DislikedHi PipQueen, Nice work you have going in here. This strategy has generated some nice pips for me but upon testing and reading the manual, I realise that the EA does not follow the rules. From my understanding here are the rules: Conditions for a Trade Signal to be Generated 1) Fib ratios are drawn on the active wave 2) An active wave is the price swing closest to where price presently is 3) For an active wave to be valid: (i) It must have a length of 40 pips for intraday (e.g 5mins TF) or (ii) It must have a length of 150 pips for long term TF 4)...Ignored
for standard BUY, 7 MA >14 MA, 14 MA > 49 MA, Stoch main line > Signal line and RSI > 50. The opposite is true for a standard SELL.
for Dare Me BUY, Stoch main line > Signal line and RSI > 50. no MA's involved.
if i read the pdf correctly, (and i admit i only read up to chapter 3) the regressing to the 75% line was to determine if you should stay in a trade or get out. i personally dont like giving up so many pips (regressing to the 75%) so i did not code in an exit. i think everybody can set their own according to how they like to trade. if the pair is really trending, the 25% button is pretty cool, but if it is not trending, chicagorob's way seemed to be working out pretty well for him in which he is setting SL's and TP's. i am leaning his direction since you can set a TP and increase your lot size to hit your daily number as you gain confidence with the (modified) strategy.
Mother of Pips