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Weekly system (Set and forget)

  • #41
  • Oct 5, 2017 9:34am Oct 5, 2017 9:34am
interesting entry system..
Let Market Tell You
  • #42
  • Oct 5, 2017 12:15pm Oct 5, 2017 12:15pm
Quoting forexcentric
Hi folks, I really don't want to be destructive, but I don't know how to say the things otherwise .... I crunched the last 13 weeks on EU and this setup doesn't hold. The R/R ratio is poor. I stopped crunching when I noticed the total pips were about 60 in the original setup and about 200 with trailing stop, as I said earlier. 200 pips in 13 weeks when you expose about 50 pips every week, this is huge risk for me. Sooner or later, the black swan will bust the account. The last 5 weeks were just a lucky shot. One more time, I'm not contrarian, but...
There are definitely good ideas here from cocolizo67 but in my opinion, they all do require some adjusting. I've been crushing it for sometime and backtests show the same historically. His threads do provide a good basis but you'll have to do some adjusting yourself to your preferences.
Here's Tom with the weather.
  • #43
  • Oct 5, 2017 3:12pm Oct 5, 2017 3:12pm
Quoting Monokl
interesting entry system..
It is interesting, and if it makes you focus on PRICE ACTION, so much the better.

For instance the GBPUSD, did you have any bias on that pair?

Either fundamentally or technically?

It's not just the 2 first candles that are important...

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-06_6-03-55.png Size: 75 KB
MAY THE TREND BE WITH YOU
  • #44
  • Oct 5, 2017 4:21pm Oct 5, 2017 4:21pm
Before you ask, here are 2 useful indicator for absolutely FREE

anyone can download from the Market Tab and be using them in 2 minutes

Simple Line plots the previous Month, Week and Day lines for High & Low as well as 50% level

Watermark is what it says

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-06_6-24-20.png Size: 160 KB
MAY THE TREND BE WITH YOU
  • #45
  • Oct 6, 2017 7:06am Oct 6, 2017 7:06am
Hello and thank you for sharing you system.

I have been trying to demo some weekly order setups.
Pairs for the most part tend to run for at least two weekly green/red candles in a row.
I have succeded the best with heikanashi candles.
Have you tried to use them?

This system looks really interresting.
Thank you.
Oddbjorg
All the best to all of you. But don't follow me. I am a learner.
  • #46
  • Oct 6, 2017 9:56am Oct 6, 2017 9:56am
Quoting Oddbjorg
Hello and thank you for sharing you system. I have been trying to demo some weekly order setups. Pairs for the most part tend to run for at least two weekly green/red candles in a row. I have succeded the best with heikanashi candles. Have you tried to use them? This system looks really interresting. Thank you. Oddbjorg
Hello
No I haven´t used them.
This is a breakout system, not a swing trade system, so we are not interested in letting the trade run. Let´s stick to the original rules. Thanks
  • #47
  • Oct 6, 2017 10:03am Oct 6, 2017 10:03am
Quoting cocolizo67
{quote} Hello No I haven´t used them. This is a breakout system, not a swing trade system, so we are not interested in letting the trade run. Let´s stick to the original rules. Thanks
Ok, yes. Did not mean to interrupt. I just did not know I did, or it could to it.
I have read again, and know what you, even though I do not know the exact expression is.
Thank you.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #48
  • Edited 1:58pm Oct 6, 2017 1:34pm | Edited 1:58pm
Please check, if the EA tread via the rules. The trade is open at the High/Low level, 2 pip rule is not inculded.
Attached File(s)
File Type: ex4 _Coccolizo Weekly one.ex4   13 KB | 368 downloads
  • #49
  • Oct 6, 2017 10:01pm Oct 6, 2017 10:01pm
Quoting Beertje
Please check, if the EA tread via the rules. The trade is open at the High/Low level, 2 pip rule is not inculded. {file}
Sorry, is not working according to the rules.
  • #50
  • Oct 7, 2017 3:38am Oct 7, 2017 3:38am
There is an indicator here ---> https://www.forexfactory.com/showthread.php?t=256848

called Daily Line Boxes

which can highlight the first 2 by 4 hours candles of each week, and then draw high & low lines extended for the complete week

Okay, so sometimes maybe the first 2 candles won't be strictly by the rules but it can give a good indication

Be sure read the detailed instructions at that thread

Here are a few quick settings to get you going and how it looks on the chart

Trade well friends

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-07_18-31-56.png Size: 72 KB
MAY THE TREND BE WITH YOU
  • #51
  • Oct 7, 2017 3:48am Oct 7, 2017 3:48am
Please Try it.
Attached File(s)
File Type: ex4 _Cocolizo Weekly one.ex4   12 KB | 527 downloads
  • #52
  • Oct 7, 2017 2:05pm Oct 7, 2017 2:05pm
Quoting Beertje
Please Try it. {file}
Almost there...

SL is not 1.5 ATR (looks like 1 ATR)
Takes 2 trades a week instead of 1 (although not specified in rules)
  • #53
  • Oct 7, 2017 3:23pm Oct 7, 2017 3:23pm
Quoting Go5
{quote} Almost there... SL is not 1.5 ATR (looks like 1 ATR) Takes 2 trades a week instead of 1 (although not specified in rules)
There was a wrong code line at the stop calculating, because I modified an another EA.
Try this.
Attached File(s)
File Type: ex4 _Cocolizo Weekly one.ex4   12 KB | 329 downloads
  • #54
  • Oct 7, 2017 3:54pm Oct 7, 2017 3:54pm
Quoting Beertje
{quote} There was a wrong code line at the stop calculating, because I modified an another EA. Try this. {file}
Only 1 trade - OK.
SL still 1*ATR...?
  • #55
  • Oct 7, 2017 4:16pm Oct 7, 2017 4:16pm
Quoting Go5
{quote} Only 1 trade - OK. SL still 1*ATR...?
Also, the exit candle count is wrong, should include the entry candle if its close is above the entry level.
  • #56
  • Oct 7, 2017 8:23pm Oct 7, 2017 8:23pm
Quoting Beertje
{quote} There was a wrong code line at the stop calculating, because I modified an another EA. Try this. {file}
Thanks, but sorry still not working according to the rules.
By the way you should include the 2-3 pips brekout rule. That js a MUST rule.
  • #58
  • Oct 8, 2017 2:50pm Oct 8, 2017 2:50pm
Atr Multiplier added.
Additional PIPs is added.

I not understand what is not ok whit the exit. It close when the second Bull/Bear Candle is formed.
Attached File(s)
File Type: ex4 _Cocolizo Weekly one.ex4   13 KB | 323 downloads
  • #59
  • Oct 8, 2017 3:50pm Oct 8, 2017 3:50pm
Quoting Beertje
Atr Multiplier added. Additional PIPs is added. I not understand what is not ok whit the exit. It close when the second Bull/Bear Candle is formed. {file}
Exit is second candle closing in PROFIT. Sometimes the entry candle is the first one if it closes in profit.
The last version also closes in loss.
  • #60
  • Oct 9, 2017 1:33am Oct 9, 2017 1:33am
In the original rule is nothing about profit.But Now I Include it.

I could bring it in profit only whit martingale. (really rsky way)
Lot = Startlot;
M_Factor = Martingale Multiplier.

Any Idea for filtering?
Attached File(s)
File Type: ex4 _Cocolizo Weekly one.ex4   15 KB | 318 downloads
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