I am sharing this for sincere opinion from FF community of its viability in long term trading. I have limited resources for backtests and forward tests and hope those that do willl have a look and give their opinion.
The system is actually an offshoot of Divergence Flag Trading in this thread and mostly evolve from this post by Clivepackham here.
I noticed that it needs fast fingers for entry at the 1pip high/low of sub (signal) bar, so I sent an EA request to Ronald Raygun on his website which he graciously obliged freely and also gave permission for its share on FF here.
I did manual backtests from February till September and had only 1 losing month. I traded live on Alpari in October and November with win/loss/be of 35/20/16 and 31/19/8 respectively.
The EA is all that is required for the system. I include a copy of valid short and long trades with setable parameters.
The EA is based on this rule:
Trading Hours: Frankfurt Open to London Close (not yet included in EA)
System Setup:
1. 3 CCIs period 8,40,120 apply to Typical Price (HLC/3)
2. SMA period 10 apply to Median Price (HL/2).
Trading Rule:
TimeFrame: 1min
Setup 1 - The bar when all 3 CCIs move above 50 at same time is signal bar.
Setup 2 - Initially CCI 120 is above 50, then the bar when the 2 remaining CCIs move above 50 is signal bar.
Setup 3 - Initially CCI 40 is above 50, then the bar when the 2 remaining CCIs move above 50 is signal bar.
Signal bar Low must be less than 2.4pips from the SMA and less than 11pips from last fractal/low.
Enter Long if any next 3 bars break High of the signal bar by 1pip. SL 15pips, TP 16pips. Move to BE at 10 pips
Short is as above when the rules are met below -50
If there is anything to add, will always edit this first post.
The system is actually an offshoot of Divergence Flag Trading in this thread and mostly evolve from this post by Clivepackham here.
I noticed that it needs fast fingers for entry at the 1pip high/low of sub (signal) bar, so I sent an EA request to Ronald Raygun on his website which he graciously obliged freely and also gave permission for its share on FF here.
I did manual backtests from February till September and had only 1 losing month. I traded live on Alpari in October and November with win/loss/be of 35/20/16 and 31/19/8 respectively.
The EA is all that is required for the system. I include a copy of valid short and long trades with setable parameters.
The EA is based on this rule:
Trading Hours: Frankfurt Open to London Close (not yet included in EA)
System Setup:
1. 3 CCIs period 8,40,120 apply to Typical Price (HLC/3)
2. SMA period 10 apply to Median Price (HL/2).
Trading Rule:
TimeFrame: 1min
Setup 1 - The bar when all 3 CCIs move above 50 at same time is signal bar.
Setup 2 - Initially CCI 120 is above 50, then the bar when the 2 remaining CCIs move above 50 is signal bar.
Setup 3 - Initially CCI 40 is above 50, then the bar when the 2 remaining CCIs move above 50 is signal bar.
Signal bar Low must be less than 2.4pips from the SMA and less than 11pips from last fractal/low.
Enter Long if any next 3 bars break High of the signal bar by 1pip. SL 15pips, TP 16pips. Move to BE at 10 pips
Short is as above when the rules are met below -50
If there is anything to add, will always edit this first post.
Attached Image(s) (click to enlarge)
Attached File(s)
(And I have a 22" screen....)
