Hello,
The following strategy has been made using the concept of Vegas Tunnel Method in forexfactory but it is slightly different. It uses only one envelope instead of two moving averages.
The idea is to enter on breakout of moving average envelope with a tight stop loss on the other end. There will be three contracts. Target of one is 20 pips. The target of second is 40 pips and third one is trailed till the end.
Entry Rules:
Moving Average 250: Envelope = 0.02% Buy Stop on the top band. Sell Stop on the lower band.
Stop Loss: Other end of the envelope. That is, if it is a buy stop, sl is at the lower band. If it is a sell stop, sl is at the top band.
Exiting Rules:
Target 1: 20 pips
Target 2: 40 pips
Target 3: Trailing. If it is was a buy position, it will be trailed till the touch of lower band. If it was a sell position, it will be trailed till the touch of top band.
This looks promising. I need someone to code the EA for that.
Thanks and Regards,
Xpertize
The following strategy has been made using the concept of Vegas Tunnel Method in forexfactory but it is slightly different. It uses only one envelope instead of two moving averages.
The idea is to enter on breakout of moving average envelope with a tight stop loss on the other end. There will be three contracts. Target of one is 20 pips. The target of second is 40 pips and third one is trailed till the end.
Entry Rules:
Moving Average 250: Envelope = 0.02% Buy Stop on the top band. Sell Stop on the lower band.
Stop Loss: Other end of the envelope. That is, if it is a buy stop, sl is at the lower band. If it is a sell stop, sl is at the top band.
Exiting Rules:
Target 1: 20 pips
Target 2: 40 pips
Target 3: Trailing. If it is was a buy position, it will be trailed till the touch of lower band. If it was a sell position, it will be trailed till the touch of top band.
This looks promising. I need someone to code the EA for that.
Thanks and Regards,
Xpertize