Hello fellow traders,
first of all I'd like to say that no, I am not a professional trader (yet), but I am very much pursuing it.
I've been reading alot about technical analysis and I choose it over fundamental analysis(even though it's more effective to use both)
Do please note that this strategy I'm gonna tell you about is not finished, and I'm coming here mainly because I'd like to see how other traders like this strategy and of course, opinions and improvement.
Sooo, this is what I have to offer:
Pair: EUR/USD (only pair tested)
TF: M5
Indicators: MACD (12,26,9)
CCI (14)
These are optional: 2 sets of bollinger bands, (20,1) and (20,2)
Daily pivots
Long entry:
This should all happen on the same M5 candle, EXCEPT for step 2 (which has to happen on the same candle or earlier)
Step 1 - CCI crosses +100 from BELOW (meaning CCI has to ENTER the overbought zone)
Step 2 - MACD moving average has to be below the histogram
Step 3 - MACD histogram bar needs to have a higher value than the previous bar (I use a custom MACD indicator to see this easier)
Reverse for short entry
Exit: 10 pips, or preferred method (10 pips recommended though, use demo if you want to try another exit method)
To be honest I have never used a stop-loss, but that's why I'm here, improvement for this strategy.
NOTE: I have mainly backtested this strategy and only opened a few trades on demo (all profitable with tp taken)
I use pivots and bollinger bands for possible earlier exits and sometimes they signal not to take a trade (close to major support/resistance)
ANY feedback appreciated!
The zip file attached includes the custom MACD indicator, and a template (this all for mt4)
I have added a chart in the zip with an example (there are more signals on the chart that I haven't pointed out, try n' find them lol)
first of all I'd like to say that no, I am not a professional trader (yet), but I am very much pursuing it.
I've been reading alot about technical analysis and I choose it over fundamental analysis(even though it's more effective to use both)
Do please note that this strategy I'm gonna tell you about is not finished, and I'm coming here mainly because I'd like to see how other traders like this strategy and of course, opinions and improvement.
Sooo, this is what I have to offer:
Pair: EUR/USD (only pair tested)
TF: M5
Indicators: MACD (12,26,9)
CCI (14)
These are optional: 2 sets of bollinger bands, (20,1) and (20,2)
Daily pivots
Long entry:
This should all happen on the same M5 candle, EXCEPT for step 2 (which has to happen on the same candle or earlier)
Step 1 - CCI crosses +100 from BELOW (meaning CCI has to ENTER the overbought zone)
Step 2 - MACD moving average has to be below the histogram
Step 3 - MACD histogram bar needs to have a higher value than the previous bar (I use a custom MACD indicator to see this easier)
Reverse for short entry
Exit: 10 pips, or preferred method (10 pips recommended though, use demo if you want to try another exit method)
To be honest I have never used a stop-loss, but that's why I'm here, improvement for this strategy.
NOTE: I have mainly backtested this strategy and only opened a few trades on demo (all profitable with tp taken)
I use pivots and bollinger bands for possible earlier exits and sometimes they signal not to take a trade (close to major support/resistance)
ANY feedback appreciated!
The zip file attached includes the custom MACD indicator, and a template (this all for mt4)
I have added a chart in the zip with an example (there are more signals on the chart that I haven't pointed out, try n' find them lol)
Attached File(s)
10pips with CCI.zip
219 KB
|
3,227 downloads