Chart above shows the Guppy Count Back Trailing Stop Loss Trading System for Nifty Hourly Charts with current trailing stop loss at 5088. Now the Ideal stop loss for longs is 5088.
Explaining Guppy Counter Back Trailing stop loss trading system is little long and also Iam so lazy to explain here about the Guppy Count Back trading system. Better you follow the related readings section to know more about Guppy count back trailing stop loss trading system before referring to the above nifty hourly chart
In the above chart dotted blue lines indicates the trailing stop loss and the red and black lines indicates 30 EMA and 60 EMA respectively. And the Blue arrows indicates EMA crossover
The Guppy Count Back is a price based level that determines a possible entry and/or exit point for trend trading. Here Iam using Countback(2) in my nifty trading system. The Guppy standard is two but any number can be used to widen or tighten the stop distance. Note that Guppy literature refers to using three bars, but the passed parameter is for the number of steps between bars, not the number of bars involved.If you have any queries about the system feel free to share it here.
Guppy Count Back Trailing Stop Loss