TSLA Trend Entries with BlueWave and Money Flow

Summary

This TSLA strategy combines a custom BlueWave oscillator, smoothed money flow, and 50- and 200-period exponential moving averages. It seeks long entries when both oscillator measures are positive and rising while price is above both averages; an additional check requires the conditions not to have held on the prior bar. The setup is intended to align momentum with a broader upward trend.

Position size is based on a user-defined fraction of equity divided by the distance to the lowest low over a configurable lookback, with a minimum stop distance tied to price. The script places a stop at that structural low and also closes a long when price falls below the 50-period average. The document provides implementation details, but no reported performance results or evaluation methodology. Its title mentions daily and hourly trading, yet the supplied excerpt does not specify timeframe behavior; it also shows only long-entry logic, so conclusions about short trades or robustness across markets are unsupported.

Key ideas

• Long entries require positive, rising BlueWave and money-flow readings, with price above both trend averages.
• A prior-bar condition is used to avoid entering when the signal was already present on the previous bar.
• Position size scales with equity and the distance to a recent structural low, subject to a minimum stop distance.
• The long position exits at the structural stop or when price drops below the 50-period EMA.
• The document gives no backtest results to establish performance or robustness.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.