DislikedHey GCT,
Got to agree with an earlier post (as I'm a little confused here) ... you mention using the MACD to choose your direction of trade, yet I do not see it on your charts. Can you please confirm the application of MACD in your system, thanks.
P.S. As MACDoug has commented, I'm hoping soon to code up your system also into PRT, hopefully with several tweaks of my own that I've incorporated into other systems I've been working on. I'm talking 20 pages of code though, so I need to sift through this carefully to utilise some ideas and discard others - but we should end up with a very nice backtest and a psuedo 'black box' indicator (similar to your entry indicator if you like) which will take much of the work out. Your use of MACD though for entry and exit though I am not entirely sure of.Ignored
Hi Johnny,
The Macd is one type of entry or exit strategy that can be used. In the code or indeed just visually looking at the chart the direction can be easily picked by which way the breakout is headed from the constriction. In the code, it is easily added to pick the direction of the trade.
Same thing for the exit, it is used to evaluate if the move is over or it has just stalled. That is why I have the MACD Threshold. It compares the current value of the MACD signal to the previous bar and if that value goes over the threshold, it exits the position.
As I said, it is one form of exit. Another VERY effective exit strategy is to stage out at pivot points.
I hope this clarifies it and I cant wait to have a look at your code. Im a code geek, what can I say!
Here is a pic of my layout, although it cuts off one of my screens! The screen capture mustnt be able to see all 4. lol
GCTrader
http://img413.imageshack.us/img413/7...kspace1jm7.jpg