Hi folks
I have been testing this strategy manually and it seems to have an edge but i will like to test and probably optimize with an EA.
The strategy is very simple , it is trend following and based on ssl_channel and the QQE indicator.
description of entry and Sl is shown on the attached diagram.
1)ssl_channel crossed up indicating prepare to short
2)qqe thick line has crossed down over the dotted line indicating prepare to short
3)enter at d begiing of new bar if 1 & 2 are still valid
4)place SL at barry closest resistance
System : ssl_channel_QQE
TF: 30
Entry: SHORT Conditions
1) ssl_channel has crossed UP(indicating downtrend)
2) qqe thick line has crossed down over the dotted line
3) check at the begining of new candle if condition 1 and 2 are still in place, if so do a market order sell
SL: SL is the closest Resistance as indicated by barry S&R indicator, note this might not be the highest of the previous bar (use the Resitatance pint indicated by barry S&R indicator )
TP: options:
1) depends on risk appetite, Risk reward, i found 1:1 to be efficient
2) it might be blank but with a trailing stop
EXIT: Options:
1) TP can be the exit or the hitting of the trail stop
2) using the cross back of the ssl_channel /QQE to close the trade
3) using a time interval to close the trade i.e after 6 bars close the trade
Reverse the condition for a LONG
of course there will be some false triggers and losing trades but on the long run (especially if the market is trending and not in a range) it can be profitable. Trades can also be filtered with trend actions on higher TF this can eliminates some of the false triggers
i will like to work with a good programmer on coding this strategy
indicators:
1) ssl_channel_chart_alert.mq4
settings: loopback 10
2)QQE with Alerts.mq4
settings:SF 5
3)Support and Resistance (barry).mq4
I have been testing this strategy manually and it seems to have an edge but i will like to test and probably optimize with an EA.
The strategy is very simple , it is trend following and based on ssl_channel and the QQE indicator.
description of entry and Sl is shown on the attached diagram.
1)ssl_channel crossed up indicating prepare to short
2)qqe thick line has crossed down over the dotted line indicating prepare to short
3)enter at d begiing of new bar if 1 & 2 are still valid
4)place SL at barry closest resistance
System : ssl_channel_QQE
TF: 30
Entry: SHORT Conditions
1) ssl_channel has crossed UP(indicating downtrend)
2) qqe thick line has crossed down over the dotted line
3) check at the begining of new candle if condition 1 and 2 are still in place, if so do a market order sell
SL: SL is the closest Resistance as indicated by barry S&R indicator, note this might not be the highest of the previous bar (use the Resitatance pint indicated by barry S&R indicator )
TP: options:
1) depends on risk appetite, Risk reward, i found 1:1 to be efficient
2) it might be blank but with a trailing stop
EXIT: Options:
1) TP can be the exit or the hitting of the trail stop
2) using the cross back of the ssl_channel /QQE to close the trade
3) using a time interval to close the trade i.e after 6 bars close the trade
Reverse the condition for a LONG
of course there will be some false triggers and losing trades but on the long run (especially if the market is trending and not in a range) it can be profitable. Trades can also be filtered with trend actions on higher TF this can eliminates some of the false triggers
i will like to work with a good programmer on coding this strategy
indicators:
1) ssl_channel_chart_alert.mq4
settings: loopback 10
2)QQE with Alerts.mq4
settings:SF 5
3)Support and Resistance (barry).mq4