Hello members,
I would like to share a system in hopes that one of our talented programmers here on FF will write an EA. This is a simple daily system with a somewhat unique approach on money management. Here are the details of the system:
Indicators:
1. 200 SMA (option to change period by user)
2. ADR - 50 pips or greater on the previous 10 days
3. PSAR - this can be optional to use with the SMA (user defined) that allows trades only to be taken when both indicators agree
R/R ratio: 1:1
Stop loss: (user defined) will be using 100 pips to include spread
Take profit: (user defined) will be using 100 pips after covering spread
Pairs:
All that have an ADR equal to or greater than 50 pips
Broker: Personal preference (will test using IBFX w/10K starting balance)
Money Management: Each contract will be equal to .1 lot. (option to change lot size per user)
Example using MM: To begin open 1 contract for each pair in the direction of the indicator(s). If a win is obtained, continue with 1 contract. If a loss is obtained in a given pair then increase 1 contract for the next trade. Continue to add 1 contract if consecutive losses. Once a win is generated after a loss reverse contract size by 1 until the contract size returns back to the beginning of 1 thus eliminating all the losing trades.
Exaple of opening a trade:
Long - at the open of a new candle if the previous candle is > 200 SMA (optional to add the PSAR and trade only when both agree)
Short - at the open of a new candle if the previous candle is < 200 SMA
(optional to add the PSAR and trade only when both agree)
Let the position run until either the take profit or stop loss is hit.
I would like to share a system in hopes that one of our talented programmers here on FF will write an EA. This is a simple daily system with a somewhat unique approach on money management. Here are the details of the system:
Indicators:
1. 200 SMA (option to change period by user)
2. ADR - 50 pips or greater on the previous 10 days
3. PSAR - this can be optional to use with the SMA (user defined) that allows trades only to be taken when both indicators agree
R/R ratio: 1:1
Stop loss: (user defined) will be using 100 pips to include spread
Take profit: (user defined) will be using 100 pips after covering spread
Pairs:
All that have an ADR equal to or greater than 50 pips
Broker: Personal preference (will test using IBFX w/10K starting balance)
Money Management: Each contract will be equal to .1 lot. (option to change lot size per user)
Example using MM: To begin open 1 contract for each pair in the direction of the indicator(s). If a win is obtained, continue with 1 contract. If a loss is obtained in a given pair then increase 1 contract for the next trade. Continue to add 1 contract if consecutive losses. Once a win is generated after a loss reverse contract size by 1 until the contract size returns back to the beginning of 1 thus eliminating all the losing trades.
Exaple of opening a trade:
Long - at the open of a new candle if the previous candle is > 200 SMA (optional to add the PSAR and trade only when both agree)
Short - at the open of a new candle if the previous candle is < 200 SMA
(optional to add the PSAR and trade only when both agree)
Let the position run until either the take profit or stop loss is hit.
Attached File(s)
Daily Range Calculator.mq4
15 KB
|
427 downloads