Here's something I've played around with:
EURUSD
-long trades can only be made when the weekly13EMA is up and over the weekly 20SMA
once the "trend" is determined by the above then looking at the daily chart once daily at the close (7:59pm for me):
1. IF the daily 13EMA is over the 20SMA AND the price closed above the 13EMA buy long with a 100pip TSL
2. if stopped out, buy at the next daily OPEN ie: 8pm using the same rules above
reverse everything for shorts ie: the weekly 13EMA is under the weekly 20SMA.
I looked at this manually from January 08 till today and counted almost 40 trades with +2700pips. The biggest loss being the 100pip TSL the biggest winner being a +362 upswing.
Seems to be able to capture the trends in small bites and not get hammered too badly in ranging times.
I don't know how to program an EA to really backtest this and forward test it, but can forward test it manually however:
Is there any glaring problem with this system that makes it not worth pursing? I appreciate your thoughts. (remember, be gentle to newbies )
FW
EURUSD
-long trades can only be made when the weekly13EMA is up and over the weekly 20SMA
once the "trend" is determined by the above then looking at the daily chart once daily at the close (7:59pm for me):
1. IF the daily 13EMA is over the 20SMA AND the price closed above the 13EMA buy long with a 100pip TSL
2. if stopped out, buy at the next daily OPEN ie: 8pm using the same rules above
reverse everything for shorts ie: the weekly 13EMA is under the weekly 20SMA.
I looked at this manually from January 08 till today and counted almost 40 trades with +2700pips. The biggest loss being the 100pip TSL the biggest winner being a +362 upswing.
Seems to be able to capture the trends in small bites and not get hammered too badly in ranging times.
I don't know how to program an EA to really backtest this and forward test it, but can forward test it manually however:
Is there any glaring problem with this system that makes it not worth pursing? I appreciate your thoughts. (remember, be gentle to newbies )
FW
Isolate yourself from the herd