before I posted this strategy on this board, I did not have very rigid rules. Depending on market conditions, sometimes I used to take long positions even when 30min was overbought.
You can see if this would result in better trades by backtesting a bit. I won't mind changing this rule as even I sometimes traded against it.
But one thing that I never ever did, was buy when 5min stoch was overbought and vice versa.
If backtesting results are profitable, we can modify the rule to just use the 30min stoch to see direction of trend only, regardless of OB/OS condition and consider OB/OS only for 5min stoch.
You can see if this would result in better trades by backtesting a bit. I won't mind changing this rule as even I sometimes traded against it.
But one thing that I never ever did, was buy when 5min stoch was overbought and vice versa.
If backtesting results are profitable, we can modify the rule to just use the 30min stoch to see direction of trend only, regardless of OB/OS condition and consider OB/OS only for 5min stoch.