I think I have found a profitable take on this well-known system, but need some help on doing some backtesting as I have only been doing it manually for a few days.
I use IG Index and wish to run a Probacktest on their Advanced Charts but do not know what I need to type in.
My system is:
Try GDP/USD
Work out the highest and lowest close of 15minute bars (not highest and lowest point) between 0.00GMT and 6.45GMT.
Open buy order of 3 points at the highest and sell order at the lowest.
Stop/Loss 35 pips.
Target Profit for 1st pip is 20 pips. Once hit move stop/loss of other 2 pips to Breakeven.
Target profit for 2nd pip is 50 pips. Once hit move stop/loss of 3rd pip to 20 points.
Let 3rd pip run. But for backtesting purposes on the Probacktest close 3rd pip at 100 pips.
Your help would be much appreciated thanks
I use IG Index and wish to run a Probacktest on their Advanced Charts but do not know what I need to type in.
My system is:
Try GDP/USD
Work out the highest and lowest close of 15minute bars (not highest and lowest point) between 0.00GMT and 6.45GMT.
Open buy order of 3 points at the highest and sell order at the lowest.
Stop/Loss 35 pips.
Target Profit for 1st pip is 20 pips. Once hit move stop/loss of other 2 pips to Breakeven.
Target profit for 2nd pip is 50 pips. Once hit move stop/loss of 3rd pip to 20 points.
Let 3rd pip run. But for backtesting purposes on the Probacktest close 3rd pip at 100 pips.
Your help would be much appreciated thanks