A clarification on what happens when there are two actions on the same bar. Here we discuss one of the technical limitations of the strategy/indicator code, and a practical work around.

Cheers,

Bill

When using the "Restrict Entry Time Window" functionality in the PRX Strategy on TradingView, the times entered are inclusive. Here's an example of how that works.

Cheers,

Bill

A look at how the PRX Strategy calculates the value of 1 R when determining position size. As Dr Van Tharp taught, position sizing is what allows us to meet our objectives. As such, this is an important detail if you want your own trading to match the strategy backtests.

Cheers,

Bill

Some important notes about how TradingView handles alerts and what it means when it comes to reentry and continuation.

Cheers,

Bill

Hat tip to trader Ludovic in Australia for asking this excellent question.

Cheers,

Bill

Hi all,

This video covers how to create, delete, and manage alerts for the PRX Indicator on TradingView. Note that I also cover how to update your alerts given the recent uplisting of GBTC to official ETF status.

Cheers,

Bill

Hi All,

In this video we're highlighting how you can apply the new v2.0 version of the PRX Strategy to create some shorter term intraday flavors of the PRX System on GBTC like those we've been demonstrating on the community. We think you're gonna like the results and want to dive in deeper yourself!

We're making use of many of the new features in v2.0 like restricting the entries to only certain times of the day, setting the amount of leverage available on the account, ensuring we're not holding positions overnight, and more. These are available now to all Silver level subscribers so be sure to check it out or you can upgrade your subscription.

To get v2.0 you can simply create a new chart or layout and add the TSL: PRX Strategy and the new version will load by default. For more details on this check out the earlier post here: https://www.thesystemslabinc.com/community/topics/82339/posts/370458-prx-indicator-strategy-v2-0-released

Cheers,

Jeff & Bill

We're excited to announce Version 2.0 of the PRX Indicator and Strategy software for TradingView!

For anyone who's already a Bronze or Silver level subscriber this update is available to you right now. Simply add the PRX Indicator or Strategy to a chart and you're ready to go!

See below for a list of all the new features and updates and also check out this quick start video where Jeff describes how to setup the new version on an existing chart layout and steps through the main new features. We'll also be deep diving into some of these new capabilities in the Community over the next couple of weeks so keep an eye out.

PRX Strategy v2.0 New Features & Updates

• New in-built Leverage Settings to control the amount of Leverage used for Position Sizing

  • Enables more realistic backtests as well as forward running position size calculations

  • Settings for both the Available Leverage Multiple and Max Percentage of Available Leverage to use for position sizing

  • Defaults to unrestricted leverage to mimic v1.0 settings

• Added a check for ReEntry & Continuation Entries

  • Ensures we don't take on more risk by using the same pos size as original entry.

  • Reduces the position size accordingly if the ReEntry & Continuation iStop is larger.

• New functionality for Intraday Trading

  • New Settings Area for Intraday Trading

  • Added an Intraday Trading Session filter so that trade entries are only allowed at certain times of day or even specific days of the week. Includes chart background coloring for the times of day

  • Added TimeZone selection for above Intraday Session Selection

  • Added extra filters to avoid entering on the 1st and 2nd bar of the day to avoid issues that could arise from gaps

  • Added an End of Day exit setting to ensure the system is flat overnight when desirable

• Several under-the-hood code improvements