Spending an evening with a calculator and a piece a paper is a great exercise for maintaining a healthy brain. It's also great if something comes out of it.
I (until proved otherwise) developed a very easy mechanical system using trend following.
I used Eckhardt's criterion for confirming a possible trend.
This system also uses the last five candles in the following ways.
U= Bull candle (+1) D= Bear Candle (-1) Doji= 0
If the trend is bullish and its confirmed by Eckhardt's criterion and you calculate the last 5 candles and get a +1 or higher you enter a long position.
If the trend is bearish and its confirmed by Eckhardt's criterion and you calculate the last 5 candles and get a -1 or lower you enter a short position.
Using proper MM can this system be profitable over time? I curious if anyone can back test this, I don't know mt4 enough to this. Any help or feedback will be appreciated.
Voro
I (until proved otherwise) developed a very easy mechanical system using trend following.
I used Eckhardt's criterion for confirming a possible trend.
This system also uses the last five candles in the following ways.
U= Bull candle (+1) D= Bear Candle (-1) Doji= 0
U U U U U +5
D U U U U +3
D D U U U +1
D D D U U - 1
D D D D U - 3
D D D D D - 5
If the trend is bullish and its confirmed by Eckhardt's criterion and you calculate the last 5 candles and get a +1 or higher you enter a long position.
If the trend is bearish and its confirmed by Eckhardt's criterion and you calculate the last 5 candles and get a -1 or lower you enter a short position.
Using proper MM can this system be profitable over time? I curious if anyone can back test this, I don't know mt4 enough to this. Any help or feedback will be appreciated.
Voro
Money never sleeps.