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optimizing my reverse candlestick closing strategy

  • #1
  • First Post: Feb 13, 2018 11:00am Feb 13, 2018 11:00am
Hello Forum,

im trying to optimize my strategy and wanted to ask you for help.
its a really simple strategy, if a candle closes: open in the reverse direction (The stop is the timeframe you opened the candle) (no take profit or stopp loss*) he closes at the end of the timeframe

i got results of 51 % to 49 %
that means not a real big profit (spread makes it even harder)

now i wanted to start a discussion if we can filter somehow trends or trending candles ? does anyone has a good idea maybe ?

my idea was to maybe add an RSI to the candles and set period 2 ! and range 70 OB 30 OS.
that could work but i dont have the filter in the EA right now
cause of the rsi all moves in same direction that hold on longer are blocked out so the % could possible rise ?


does anyone wann join the disucussion and find ways ? i will share my EA too

regards
  • #2
  • Feb 13, 2018 11:17am Feb 13, 2018 11:17am
Quoting vortexpme
Hello Forum, im trying to optimize my strategy and wanted to ask you for help. its a really simple strategy, if a candle closes: open in the reverse direction (The stop is the timeframe you opened the candle) (no take profit or stopp loss*) he closes at the end of the timeframe i got results of 51 % to 49 % that means not a real big profit (spread makes it even harder) now i wanted to start a discussion if we can filter somehow trends or trending candles ? does anyone has a good idea maybe ? my idea was to maybe add an RSI to the candles and set...
try rsi setting 50 or more? Oversold in multiple timeframe and an going out of oversold in M1 or M5. Another thing, why dont you open a trade at the open of the previous candle instead of the close, maybe it gives you less risk in trends.
(.)(.) think first ...
  • #3
  • Feb 13, 2018 11:23am Feb 13, 2018 11:23am
Quoting maximumguita
{quote} try rsi setting 50 or more? Oversold in multiple timeframe and an going out of oversold in M1 or M5. Another thing, why dont you open a trade at the open of the previous candle instead of the close, maybe it gives you less risk in trends.
thanks. which direction would i open if i wait till price goes to back to opening of previos candle ? sounds interesting..
  • #4
  • Feb 13, 2018 11:25am Feb 13, 2018 11:25am
Quoting vortexpme
Hello Forum, im trying to optimize my strategy and wanted to ask you for help. its a really simple strategy, if a candle closes: open in the reverse direction (The stop is the timeframe you opened the candle) (no take profit or stopp loss*) he closes at the end of the timeframe i got results of 51 % to 49 % that means not a real big profit (spread makes it even harder) now i wanted to start a discussion if we can filter somehow trends or trending candles ? does anyone has a good idea maybe ? my idea was to maybe add an RSI to the candles and set...
Look at 15 SMA + WPR -50% level.
  • #5
  • Feb 13, 2018 11:40am Feb 13, 2018 11:40am
Quoting shiva
{quote} Look at 15 SMA + WPR -50% level.
can you tell me a bit more ? i dont know what you think exactly, unfurtunately
  • #6
  • Feb 13, 2018 12:14pm Feb 13, 2018 12:14pm
Quoting vortexpme
{quote} can you tell me a bit more ? i dont know what you think exactly, unfurtunately
See the gold dotted lines? They'd be valid entries.
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  • #7
  • Feb 13, 2018 12:19pm Feb 13, 2018 12:19pm
Quoting vortexpme
{quote} thanks. which direction would i open if i wait till price goes to back to opening of previos candle ? sounds interesting..
reversed means if the last candle was a short you go long
(.)(.) think first ...
  • #8
  • Feb 13, 2018 12:21pm Feb 13, 2018 12:21pm
Quoting shiva
{quote} See the gold dotted lines? They'd be valid entries. {image}
thanks a lot! jup i see
all perfect trades for this strategy but how did you filter them and why only those 4 ? thats the point i dont got

which criteria do you look for based on the mentioned indicators ?

regards
  • #9
  • Feb 13, 2018 12:21pm Feb 13, 2018 12:21pm
Quoting maximumguita
{quote} reversed means if the last candle was a short you go long
thank you
  • #10
  • Feb 13, 2018 12:30pm Feb 13, 2018 12:30pm
Quoting shiva
{quote} See the gold dotted lines? They'd be valid entries. {image}
very interesting strategy. what is the indicator below? is it a special RSI indicator?
  • #11
  • Feb 13, 2018 12:32pm Feb 13, 2018 12:32pm
Quoting vortexpme
{quote} thanks a lot! jup i see all perfect trades for this strategy but how did you filter them and why only those 4 ? thats the point i dont got which criteria do you look for based on the mentioned indicators ? regards
Filtered based on wpr and MA. Above 15SMA & wpr above -50 Only long. And vise versa for shorts. Why only those 4? I'm sure there are more, but I'm too lazy
  • #12
  • Feb 13, 2018 12:39pm Feb 13, 2018 12:39pm
Quoting shiva
{quote} Filtered based on wpr and MA. Above 15SMA & wpr above -50 Only long. And vise versa for shorts. Why only those 4? I'm sure there are more, but I'm too lazy
ehy i only wanted to mention them thanks a lot
  • #13
  • Feb 13, 2018 1:07pm Feb 13, 2018 1:07pm
Quoting Winnerstar
{quote} very interesting strategy. what is the indicator below? is it a special RSI indicator?
hello no, the indicator is called william percentage range %
you will find him in basic indicators

i cant find out if i should smile filters can help this strategy sooo much
  • #14
  • Feb 13, 2018 1:47pm Feb 13, 2018 1:47pm
i tried to take rsi 2 (50/50) and sma 15 ... and if its upwards (and bounces back an downwards candle but stays above RSI 2 50) i go long again,

seems interesting while im doing manual backtesting... should code it and test ... will do next month
  • #15
  • Last Post: Feb 19, 2018 12:17pm Feb 19, 2018 12:17pm
im testing shiva s recommendatioon and it looks quite fine anyone else has a suggestion maybe to add to this too? regards
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