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Dealing with whipsaws in Breakout Strategies

  • Post #1
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  • First Post: Jun 11, 2009 6:12pm Jun 11, 2009 6:12pm
  •  laphoenix
  • | Joined Jun 2009 | Status: Member | 38 Posts
Hello all!
First of all, let me thank you guys for programming this EAs and Indicators here. They are a huge part of my strategy and system. This forum rocks it all!
Currently, I am working on a template which fits best to me and I will post it when it is ready. But some things are missing, or let`s say, could be better.
The system involves SMAs, MACD, BBs etc (if you are not trained on my composition you will probably say: that’s too much or way too complicated)… but that’s my style and I am used to it.

Now, let me start …
I am following a breakout strategy, too. The indicator I use for help is ant-GUBreakout_V.0.4.1, posted in this forum.
I saw that sometimes, mostly 3 to 5 1h candles are “whipsaws”. They rise above the high/low but comeback and change direction. So I am stopped out and my other pending order is triggered. IF that happens, it is one bar… so, can some tell me:
How can I set a pending order at the highs and lows of a certain time (e.g. 00:00 – 05:00 EST on EUR/USD) but the order will ONLY be executed IF the next bar is still above/below the high/low.

Maybe someone has an EA or an idea how to do that. That would be great!

Greetings from rainy Germany!

Marc

PS: English is not my native language! Spelling mistakes may occur ;-)
Per aspera ad astra!
  • Post #2
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  • Jun 12, 2009 8:55am Jun 12, 2009 8:55am
  •  syanwar
  • | Joined May 2007 | Status: Motivated by the fear of mediocrity | 149 Posts
an Expert Advisor will help you in this case

PS: English is not my native language! Spelling mistakes may occur too ;-)
Keep your hands up, and use your pant! ;) - FxMatics
  • Post #3
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  • Last Post: Jun 12, 2009 10:23am Jun 12, 2009 10:23am
  •  Ronald Raygun
  • Joined Jul 2007 | Status: 30 y/o Investor/Trader/Programmer | 5,016 Posts
Any of my generic breakout EAs (5.5 is the latest) should do the trick.
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