Elder Triple Screen

Because you filter trades through three successive screens or tests: Screen 1 identifies the tide (weekly trend), Screen 2 finds the wave (daily pullback), and Screen 3 times the entry. A trade must pass all three screens.

Screen 1 (weekly) only needs checking once per week. Screen 2 (daily) is checked daily when Screen 1 is favorable. Screen 3 is the entry technique you use once Screen 2 signals.

The weekly ALWAYS wins. If weekly is bearish, you don't take longs regardless of what the daily shows. The daily only matters once the weekly is in your favor.

Yes, Triple Screen is excellent for TFSA trading. The typical holding period of days to weeks is appropriate, and the systematic approach helps avoid overtrading.

Use Stochastic (5,3,3) or RSI (14) instead. For longs in uptrend: look for Stochastic below 30 or RSI below 40. The principle is the same - find oversold conditions in uptrend.

Typically 3-5 days. If the entry isn't triggered within this window and the tide is still valid, you can reassess. If the tide changes (weekly MACD-H reverses), cancel the pending order.

Dr. Elder recommends exiting primarily on weekly tide change. However, you can take partial profits when the oscillator reaches extreme positive levels, then trail the rest.

Yes, but adjust timeframes: use Daily for Screen 1 (tide) and Hourly for Screens 2 & 3 (wave and entry). The principle of trading with the larger trend on smaller timeframe pullbacks remains.

If price gaps through your trailing buy stop, you'll be filled at the gap open, which may be worse than expected. This is rare. If it happens, ensure position sizing limited your risk to 2%.

Typically 45-55%. The system doesn't aim for high win rate; it aims for larger winners than losers. Profits come from staying with the tide while cutting losses on whipsaws.

Two-stage scan: First, find instruments with rising weekly MACD-H (bullish tide). Second, from that list, find those with daily Force Index below zero. The output is your 'ready for entry' list.

Yes. Instead of buying stock on Screen 3 trigger, buy ATM or slightly ITM calls with 2-3 months to expiration. This provides defined risk and leverage. Use the same exit rules.

Track risk on each position (Entry - Stop) × Shares. Sum across all positions. This total must not exceed 6% of account. With 2% per trade, you can have maximum 3 positions.

Use wider stops (below 2-3 day low instead of previous day), smaller position sizes, and possibly a higher ATR multiplier for the Chandelier Exit. The tide/wave concept still applies.

Track: Win rate, profit factor, avg winner vs loser, Screen 3 fill rate (efficiency), avg holding period. The system should have profit factor > 1.5 and winners at least 2× losers.