EFS for Trading Success
EFS Featured Studies of the Month:
BtDonchian Trailing Stops and TFS: Tether Line
The EFS library is full of new and useful strategies you can use for free in eSignal.
This month, we feature a back testing strategy that closes positions with trailing stops and a study that creates a line that the stock prices tend to cluster around.
BtDonchian Trailing Stops
This strategy enters a position when a 10-period Donchian makes a new high on the upper channel or new low on the lower channel going long and short, respectively. The exit strategy for this sample uses the Average True Range study for the basis of the trailing stop logic. The initial stop is set to the Middle Donchian channel. The trailing stop will increment in the direction of the position by 25 percent of the previous bar's 10-period ATR.
Download the BtDonchian Trailing Stops study
TFS: Tether Line
The Tether Line indicator is the first component of the TFS trading strategy. It was named this way because stock prices have a tendency to cluster around it. It means that stock prices are likely to move away from the midpoint between their 50-day highs and lows, then return to that midpoint at some point in the future. On a chart, it appears as though the stock price is tethered to this line, and hence the name.
Resources for EFS
- To access other EFS studies, visit the EFS Library (wait a few seconds for the Most Popular Articles listing to appear).
- For detailed tutorials on EFS, including how to implement EFS studies within eSignal, visit the Help Guides and Tutorials section of the EFS KnowledgeBase.
