Hi Guys, I am not creator of this strategy, only helped Farkasb to open this thread because he is junior member.
I've been working on a strategy for a while which doesn't use indicators just basic technical analyses (tops,bottoms,break outs etc..). The logic is pretty complex so I'm not going to write it all down right now, but I'm interested in your opinion. Please check it out, if you find it promising I can open up a separated thread to discuss.
Basics:
Trigger: Opposite direction bar close / or break up/break down bar
Target: Previous top/bottom / or some trailing when break out
Top/Bottom definition: At least 4 bars in one direction than at lest 3 bars in the opposite direction
Picture explanation:
Tops/Bottoms: marked with purple boxes
Trade Opening: Red arrow (up/down - LONG/SHORT)
Opening/Closing price: Yellow dots
Stops: Grey dots
I always open trades at bar close. I use 3 bars for stop normally, 2 bars stop for break up/break down entries. I use trailing stop with a special logic (will explain later). I use tops/bottoms to analyze the trend, so I don't always open positions for both directions.
I trade 2 strategies basically.
1. "Turn bar" - it happens when an opposite direction bar closes. Preferable at a previous top/bottom. I use the previous top/bottom for target and 3 bars stop.
2. "Break out" - when a break out occurs from a significant top/bottom (at least 2 tops/bottoms - marked purple boxes). I use trailing.
In the given screenshot I marked the trades manually for illustration. There were 12 trades, 11 profitable 1 loss. I noted the profit/loss in pips. I used 10 pips renko bars.
http://www.forexfactory.com/attachme...1&d=1296664315
I've been working on a strategy for a while which doesn't use indicators just basic technical analyses (tops,bottoms,break outs etc..). The logic is pretty complex so I'm not going to write it all down right now, but I'm interested in your opinion. Please check it out, if you find it promising I can open up a separated thread to discuss.
Basics:
Trigger: Opposite direction bar close / or break up/break down bar
Target: Previous top/bottom / or some trailing when break out
Top/Bottom definition: At least 4 bars in one direction than at lest 3 bars in the opposite direction
Picture explanation:
Tops/Bottoms: marked with purple boxes
Trade Opening: Red arrow (up/down - LONG/SHORT)
Opening/Closing price: Yellow dots
Stops: Grey dots
I always open trades at bar close. I use 3 bars for stop normally, 2 bars stop for break up/break down entries. I use trailing stop with a special logic (will explain later). I use tops/bottoms to analyze the trend, so I don't always open positions for both directions.
I trade 2 strategies basically.
1. "Turn bar" - it happens when an opposite direction bar closes. Preferable at a previous top/bottom. I use the previous top/bottom for target and 3 bars stop.
2. "Break out" - when a break out occurs from a significant top/bottom (at least 2 tops/bottoms - marked purple boxes). I use trailing.
In the given screenshot I marked the trades manually for illustration. There were 12 trades, 11 profitable 1 loss. I noted the profit/loss in pips. I used 10 pips renko bars.
http://www.forexfactory.com/attachme...1&d=1296664315