Hey guys, I have recently started back testing a strategy and wanted to get your thoughts on it. It uses the aroon up and down set to a period of 30, 26 EMA and 100 EMA.
I will look at the chart at 9AM GMT and the trade will only execute at this time. I will be using 1H time frame. Depending on what the aroon is showing for the previous candle, it will indicate a buy or a sell opportunity, so if the green is higher than the red it is a buy opportunity and vice versa. What determines whether I get into a buying opportunity is if the 26ema is below the 100ema at this time. The opposite would have to be true for a sell signal. TP is 150 and SL is 25 from the close of the previous candle. Only one trade can be open at anytime.
I have only backtested this from 06/01/20 to 10/04/20. This was carried out last week which is why it only went up to the 10/04. The results were 7 wins and 8 losses which gave a profit of 850 pips. I will be testing this further for 2019 and see if it gives good results. May also look at trying this on other pairs as well
Just wanted to see what your thoughts are on this and if anyone wants to explore this strategy further with me as well.
I am still quite new here and this is my first time posting a strategy, let me know I have missed anything out or you don't understand
I will look at the chart at 9AM GMT and the trade will only execute at this time. I will be using 1H time frame. Depending on what the aroon is showing for the previous candle, it will indicate a buy or a sell opportunity, so if the green is higher than the red it is a buy opportunity and vice versa. What determines whether I get into a buying opportunity is if the 26ema is below the 100ema at this time. The opposite would have to be true for a sell signal. TP is 150 and SL is 25 from the close of the previous candle. Only one trade can be open at anytime.
I have only backtested this from 06/01/20 to 10/04/20. This was carried out last week which is why it only went up to the 10/04. The results were 7 wins and 8 losses which gave a profit of 850 pips. I will be testing this further for 2019 and see if it gives good results. May also look at trying this on other pairs as well
Just wanted to see what your thoughts are on this and if anyone wants to explore this strategy further with me as well.
I am still quite new here and this is my first time posting a strategy, let me know I have missed anything out or you don't understand