Last Update 19 May 2015
Hi everyone, I'm Michael, I'm writing from Italy, so sorry for my bad english. I would like to share my personal strategy. I've did a lot of studies and with a simple methodology(because simple is better), I've created a very reliable strategy. Certainly I can't garantee "ever green" days, but with my strategy I can get an ITM range between 65% and 75%. Rarely, but it happens, it touch 50% of ITM.
I want to know what do you think about it and how you could filter out the wrong signals.
I named the strategy "The Italian jOB".
Important: This is the original one, the first strategy where we started. Then you'll find last update at the end of the post.
----->NOW CHECK THE LAST UPDATE<-----
Thanks to Swingman we have all in a simple indicator, a really nice Matrix where we just need to wait all the signals. The best results are obtained on a 5 minutes TF with a 10 minutes expiry. Max successive loss registered from the system with this setup is 4 (5minTF-10minEXP), so you can think to apply a Martigale MM. Here is the last version .
You can also filter some bad signals with great indicator that some of you have post here...somewhere...
Swingman contribution
boItalianJob Stochastic_v1.ex4
Wulong contribution
NonLag stochastic nrp_mtf+alerts nmc.mq4
Again, sorry for my English...I would like to annouce that I'm working on something better e really powerfull.
I'll happy to give my contribute to those thinking to create an automated software.
Please do not hesitate to say what you think, hope to help someone...but please, try in demo!!!
Special thanks to SwingMan
Nice trade
Mike
Hi everyone, I'm Michael, I'm writing from Italy, so sorry for my bad english. I would like to share my personal strategy. I've did a lot of studies and with a simple methodology(because simple is better), I've created a very reliable strategy. Certainly I can't garantee "ever green" days, but with my strategy I can get an ITM range between 65% and 75%. Rarely, but it happens, it touch 50% of ITM.
I want to know what do you think about it and how you could filter out the wrong signals.
I named the strategy "The Italian jOB".
Important: This is the original one, the first strategy where we started. Then you'll find last update at the end of the post.
What we need?
I trade with MetaTrader 4.
Indicators:
We set the classic Bollinger Bands on our classic candles chart.
Then we insert our BBRSI indicator. On this we will overlay the Stochastic indicator. In this way we will have two indicators in the same window.
For the BBRSI we have 2 levels that we keep: 30 (oversold) and 70 (overbought). We keep too the RSI at 14 and Bollinger Bands at 20-2.
Regarding the Stochastic, we modify the stock levels from 20 to 10 (oversold) and from 80 to 90 (overbought).
You can download all the indicators and template from here:
Entry rules:
5 minutes trade on 1 minute TF. (but you can also try in different TF, less signal, better results)
Put entry:
_MT4 Stoch must be above the 90 level.
_RSI must be above the 70 level and over the Bollinger Bands.
_If at the closing the candle on our chart is beyond the Bollinger band, and all other conditions are met, make your entry immediately.
Call entry:
_Stoch Must be under the 10 level.
_RSI Must be under the 30 level and belove the Bollinger Bands.
_If at the closing the candle on our chars is belove the Bollinger band, and all other conditions are met, make your entry immediately.
And now some pics:
My results for the past week are the following:
EUR / USD London and NY session
Monday, 12 ITM - 2 OTM 85.71%
Tuesday 8 ITM - 3 OTM - 1 TIE 66.67%
Wednesday 12 ITM - 1 OTM 92.3%
Thursday, 10 ITM - 5 OTM - 1 TIE 62.5%
Friday 10 ITM - 5 OTM 66.67%
This results are similar every week.
If we operated away from the big news and we made attention to the NY opening, would be a step further.
----->NOW CHECK THE LAST UPDATE<-----
Thanks to Swingman we have all in a simple indicator, a really nice Matrix where we just need to wait all the signals. The best results are obtained on a 5 minutes TF with a 10 minutes expiry. Max successive loss registered from the system with this setup is 4 (5minTF-10minEXP), so you can think to apply a Martigale MM. Here is the last version .
You can also filter some bad signals with great indicator that some of you have post here...somewhere...
Swingman contribution
boItalianJob Stochastic_v1.ex4
Wulong contribution
NonLag stochastic nrp_mtf+alerts nmc.mq4
Again, sorry for my English...I would like to annouce that I'm working on something better e really powerfull.
I'll happy to give my contribute to those thinking to create an automated software.
Please do not hesitate to say what you think, hope to help someone...but please, try in demo!!!
Special thanks to SwingMan
Nice trade
Mike
