I wanted to find a strategy with following criteria:
- Simple (fewer than 3 indis)
- Can be done on mt4 mobile
- Does not use discretion
- Is profitable (duh)
CHART setup:
- BB (standard settings 20 and 2, no shift)
- Williams %R (14 periods. Lines at -40 and -60)
- Hourly candle
LONG entry conditions
1. Price starts below MA of BB then crosses and closes above the MA (candle 0)
2. Williams %R between -40% and 0 (candle 0)
3. Enter long at start of next candle (candle 1)
4. TP at upper BB level of candle 0
5. SL at low of candle 0
SHORT
1. Opposite of above except Williams between -60 and -100
Additional rules:
1. Move SL to BE+1 after a candle closes >=3 pips in your favour
2. Do NOT enter if high of candle 0 is above upper BB
Screenshot of backtesting results attached (hourly only. EURUSD only)
Example screenshots to follow.
Posting for two reasons:
1. Input to improve strategy
2. Someone might feel generous and make an EA for it so I can backtest more
- Simple (fewer than 3 indis)
- Can be done on mt4 mobile
- Does not use discretion
- Is profitable (duh)
CHART setup:
- BB (standard settings 20 and 2, no shift)
- Williams %R (14 periods. Lines at -40 and -60)
- Hourly candle
LONG entry conditions
1. Price starts below MA of BB then crosses and closes above the MA (candle 0)
2. Williams %R between -40% and 0 (candle 0)
3. Enter long at start of next candle (candle 1)
4. TP at upper BB level of candle 0
5. SL at low of candle 0
SHORT
1. Opposite of above except Williams between -60 and -100
Additional rules:
1. Move SL to BE+1 after a candle closes >=3 pips in your favour
2. Do NOT enter if high of candle 0 is above upper BB
Screenshot of backtesting results attached (hourly only. EURUSD only)
Example screenshots to follow.
Posting for two reasons:
1. Input to improve strategy
2. Someone might feel generous and make an EA for it so I can backtest more