Very nice I have to try this system. I think that is makes more profit if we can control base on money management.
Thanks a lot.
Thanks a lot.
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function run() { // Open a Daily chart BarPeriod = 1440; // Place a 5 EMA High and 5 EMA Low on the chart. var EMA5H = EMA(series(priceHigh()),5); var EMA5L = EMA(series(priceLow()),5); // Stop Loss is high/low from last candle. Stop = priceHigh(1) - priceLow(1); // Short when candle closes inside the channel if(priceOpen() > EMA5H && priceClose() < EMA5H && priceClose() > EMA5L) enterShort(); // same for long. Let it run until you see opposite signal if(priceOpen() < EMA5L && priceClose() > EMA5L && priceClose() < EMA5H) enterLong(); }
DislikedThis is very interesting. It is an extremely simple system, yet it is indeed profitable with some pairs. It returns 10% per year on EUR/USD, 84% on AUD/USD, and 45% on USD/CAD. It loses money with GBP/USD, USD/CHF, and USD/JPY.
If someone wants to automated trade this system, here's the simple code (for Zorro):
[code]function run()
{
// Open a Daily chart
BarPeriod = 1440;
// Place a 5 EMA High and 5 EMA Low on the chart.
var EMA5H = EMA(series(priceHigh()),5);
var EMA5L = EMA(series(priceLow()),5);
// Stop Loss is high/low from last...Ignored
DislikedSorry if I was not clear enough about the entry rules. But honestly dont know how easier I can explain. If the candle closes inside the channel (5Ema High and 5 Ema Low) I immediately enter the trade. No buffer, no extra rules. (Again, not looking for perfect patterns)
I followed the flying buddha system for some time and came up with this. Solely a 5 EMA close would give to many false signals but thanks pointing this out. The channel is avoiding retracements most of the time...Ignored
Disliked"If candle closes inside the channel I enter the trade" With all due respect dont know how else to word, structure and sentence this differently...Ignored
DislikedFirst, thank you for sharing a system with everyone. But I am confused too. I understand that you enter when a candle closes inside the channel, but if a candle closes inside the channel, how do you know if you will go long or go short? Thank you.Ignored
DislikedWith this system we are trying to catch the trend from the start, with the very first candle. Meaning if the candle that closes inside the channel is red go short, if its blue go long..Ignored
DislikedSorry if I was not clear enough about the entry rules. But honestly dont know how easier I can explain. If the candle closes inside the channel (5Ema High and 5 Ema Low) I immediately enter the trade. No buffer, no extra rules. (Again, not looking for perfect patterns)
I followed the flying buddha system for some time and came up with this. Solely a 5 EMA close would give to many false signals but thanks pointing this out. The channel is avoiding retracements most of the time...Ignored