Original subtitles

in this video we'll go over the

first section of the skeleton key external

so first things first we must choose

the strategy direction either long or short

we cannot choose both and this is

actually um for the purpose of optimization

because almost never will you find a

strategy that is

is optimal with the same settings on

both the long and the short side

it is best to specialize between long

or short if you are going to

create a strategy around it rather than

trying to create or trying to incorporate

both in a singular strategy so if

you do intend to have

both long and short strategies running you

can do that you just have to

have a another skeleton key script running

and have that active of course setup

chair exchange which you can do just

by creating another template over here on

trading view and um and you can

just set up another strategy

that way that's completely fine but like

i said you're probably going to find

better settings when you're going to find

better suited settings depending upon whether it's

long or short i wouldn't just blindly

copy one to the other maybe it

could be a starting point but very

rarely will you find any strategy that

performs perfectly or opt

to optimally i should say with both

long and short with the same setting

so choose one okay then we get

to the section right here crown cross

so the crown cross refers to the

twenty one and fifty five exponential moving

averages when the lower period twenty one

is crossed above the higher

period the fifty five that is what

we consider an uptrend and vice verse

for downtrend and so you can select

these to ensure that whatever time frame

you're looking at in this case let's

go down to like an hourly perhaps

whatever time frame we're looking at um

is going to have that cross

it's in the direction that you choose

so uptrend would be twenty one above

the fifty five downtrend is twenty one

below the fifty five and you can

do it either on entry or on

exit so what that means is that

that cross would have to be present

and active whilst the other criteria for

entry in this case are also present

in order to fire off and then

of course if you wanted to have

an exit as well that's fine but

again that that is across and that's

looking at bars casey is valid just

how many bars after that condition is

not met anymore would you want to

allow

now for in order to still have

that condition as valid in combination with

all of the other

pieces of entry criteria that you're looking

for for example um i find in

general it's best not to mess with

this criteria here on any um form

you might find particular settings or strategies

where that is better but i find

it's best not to mess around with

this too much

and then you have the entry logical

group this means that um you can

essentially group conditions together so for entry

you'd have group a or b or

you could do or as well but

if you have group a that means

that all the occasions conditions that you

set out for group a must be

present together or you know simultaneous

or or also for group b you

know this is for you to choose

which sort of grouping of um of

entries need to be present in order

for this to fire off or consider

that um situation valid and then of

course the or signal gives you just

well or just

one of these conditions needs to be

present in order for um entry to

occur so if we had or selected

here and we had enter on uptrend

selected here basically anytime the twenty one

and fifty five crossed for the upside

we would enter into a tree into

a long trade um now typically we

want to have and and for the

exit

a logical group typically we just have

an or setting here but again you

can set up the same thing as

well it'll just be orb by default

anyways moving on now we can get

to the patterns and turon lower high

and enter on higher low so what

this is gonna do is it's going

to use the internal definition as far

as the script goes to define whether

there is a higher low or lower

high and when that is confirmed as

far as the script defines that it

will enter you in on that condition

so again same thing here with the

law with the entry logical group or

exit logical group and bars pattern bout

bars pattern valid

get rid of these for now and

we'll do one one more within this

ah within this first initial video which

is divergence so here we select the

oscillator that we would be using so

of course you need to have it

on your chart in order for it

to show up as a potential input

but you could have a stochastic all

sort of that you could have an

arse i swear there could have really

any momentum oscillator that has potential for

divergences and it will use the logic

again from this script to define whether

divergences present or not this logic that

it uses is not as robust and

certainly not the same as caretakers are

a size so if you are

are using caretakers or a sigh and

you're trying to figure out where those

divergences occur this this will define it

differently um

and then you can also select the

timeframe that you want to be searching

for for those divergences so maybe you're

on the hourly timeframe here as you

can see but you want to see

a divergence on like a full hour

timeframe for example you can do them

you select for right here so you're

also right here and then you want

to exit on barry

a divergence for example it's it's outside

of the context of this program to

explain what bullish and bearish divergences are

those covered on youtube videos and and

freely available content um out there on

my channel and probably also several others

as well anyways that's all but end

this video and i'll see you in

the next three