Book Review - Alexandra Elder - Triple Screen Trading System

Screen One:

Identify the weekly trend using a trend-following indicator and trade only in this direction

Screen Two:

Apply an oscillator to a daily chart. Use daily declines during weekly uptrends to find buying opportunities and daily rallies during weekly downtrends to find shorting opportunities.

Screen Three:

Use the trailing buy-stop technique when the weekly trend is up and the daily oscillator is down. Use the trailing sell-stop technique when the weekly trend is down and the daily oscillator is up. 

Using your weekly chart to identify an uptrend, wait for daily stochastic lines to cross below their lower reference line before buying. Immediately place your buy order above the high of the latest price bar. You can then protect your position with a protective stop placed below the low of the trade day or the low of the previous day, whichever is lower.