Daily Breakout Centipede System | Forex Factory

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Daily Breakout Centipede System

  • #1
  • First Post: Edited Apr 5, 2020 9:51am Mar 22, 2020 1:10am | Edited Apr 5, 2020 9:51am

Daily Breakout Swing Trading Centipede System


Simple Rules:
i)Swing trades based on daily breakouts if signal confirms buy/sell
ii) Add more trades in the direction of the core open trade - building centipede every 40pip distance
iii)On Signal reversal,squareoff of all the open trades and take a fresh trade in the opposite direction where new signal comes.
iv) Spread check under 3 pips prior to taking trades.

Example : GBP USD 1.3042 Daily sell signal breakout
core position i) 1 sell GBPUSD 1.3042
ii) sellstop GBPUSD 1.3002 (if triggered new sellstop at 40pip distance i.e 1.2962 and so on till the core signal reversal)

Attached the EA for daily chart
Attached File(s)
File Type: mq4 dailyswingcentipede.mq4   5 KB | 2,053 downloads
that I have coded for the same, please feel free to back/forward test and make a best/robust version to share which can profit for all.

BackTest on GBPUSD Daily 10k account (lot size 0.01) from Oct 2019 to Mar 2020 till date below :
Attached Image (click to enlarge)
Click to Enlarge Name: results.PNG Size: 31 KB



Any new ideas welcome.

Cheers,
Scoobidoobi
Scoobi doobi doo
  • #2
  • Mar 22, 2020 1:26am Mar 22, 2020 1:26am
Quoting ChicagoRob
What time period and lot size for the test?
time period : Daily
lot size default : 0.01 lot per 10k account ( as it will scale into a position till the reversal happens..)

It makes crazy profits when market is swinging massively on any currency pair like below case:

For example on GBPUSD Daily sell signal triggered on Mar 10th at circa 1.3034 and its done centipede till date Mar 22nd building a huge profitable centipede and awaiting for trend on GBPUSD to flip to buy signal to book profits on all open trades...

Attached Image (click to enlarge)
Click to Enlarge Name: core.PNG Size: 60 KB



Attached Image (click to enlarge)
Click to Enlarge Name: core2.PNG Size: 69 KB
Scoobi doobi doo
  • #3
  • Mar 22, 2020 1:41am Mar 22, 2020 1:41am
USD CAD daily : 6th March buy entry 1.3438 swing till date its added to more buystops along the way by scaling to the profitable centipede in market direction, no signal to short just yet FYI.

Attached Image (click to enlarge)
Click to Enlarge Name: core3.PNG Size: 40 KB


Attached Image (click to enlarge)
Click to Enlarge Name: core4.PNG Size: 28 KB
Scoobi doobi doo
  • #4
  • Mar 22, 2020 1:52am Mar 22, 2020 1:52am
Thank you for your contribution. I’ve been waiting for an EA like this. Will be putting it to work next week. With aggressive scaling-in, I guess we would have to be careful with margin, though.
  • #5
  • Mar 22, 2020 1:56am Mar 22, 2020 1:56am
Quoting ChicagoRob
Thank you for your contribution. I’ve been waiting for an EA like this. Will be putting it to work next week.
Sure homie Rob, please let me know if any additional filter to be added to the entry as of now it catches any big swing and scales up on correct direction like we saw GBPUSD sell daily and USDCAD buy daily it works on any currency /even on sp500 with suitable settings..

appreciate your feedback.

Warning Note for traders: Don't get greedy and use on small accounts with more pairs (or) large account with high lots.. ,I leave it to the individual to use it wisely as the EA support multi pairs where ever it swings it makes up for the minor losses and covers with huge profits else where..
Scoobi doobi doo
  • #6
  • Mar 22, 2020 8:02pm Mar 22, 2020 8:02pm
Quoting Scoobidoobi
...i)Swing trades based on daily breakouts if signal confirms buy/sell...
Hey Scoob,

What's the definition of the daily breakout and what signal are you referring to? Buy/Sell if price breaches the previous high/low by "x" number of pips?

Best,

Dave
  • #7
  • Edited 8:44pm Mar 22, 2020 8:23pm | Edited 8:44pm
Quoting davelansing
{quote} Hey Scoob, What's the definition of the daily breakout and what signal are you referring to? Buy/Sell if price breaches the previous high/low by "x" number of pips? Best, Dave
If you can read through the EA code,Prev high/low saved in LastBuy and LastSell for the daily. If we break those levels and spreads are under 3pips a trade is kicked in.. Also there is orderlimit parameter which sets 1 trade per day to be allowed for buy/sell for the day not letting over trade..

once the core signal trade kicks in then it will be dabbled I betcha with buystops if the signals is buy and sell stop if sell & the direction of the market follows suit as same as the core trade..

thanks Dave!
Scoobi doobi doo
  • #8
  • Mar 28, 2020 7:30am Mar 28, 2020 7:30am
Anyone testing it on a demo account, it raked it in good pips on GBPUSD swing Upmove already

cheerio,
Scoobi
Scoobi doobi doo
  • #9
  • Mar 28, 2020 9:46am Mar 28, 2020 9:46am
Quoting Scoobidoobi
Anyone testing it on a demo account, it raked it in good pips on GBPUSD swing Upmove already cheerio, Scoobi
I do testing on GBPUSD and the result is amazing. I wished I did it on my real acc.
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard01.jpg Size: 245 KB
  • #10
  • Mar 28, 2020 1:41pm Mar 28, 2020 1:41pm
When and how do you stop out and wait for the next signal?
  • #11
  • Mar 28, 2020 10:08pm Mar 28, 2020 10:08pm
Hi,
I ran the EA on strategy test from 2015-2020, the result look promising. However I personally think using SL would be better for account protection. Having said that I'd modify the code to add SL, if I got time.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 337 KB


Cheers
  • #12
  • Mar 29, 2020 3:00am Mar 29, 2020 3:00am
Quoting Breadman
When and how do you stop out and wait for the next signal?
Prev day low broken it books the profit in all the longs and takes the other side.
Scoobi doobi doo
  • #13
  • Mar 29, 2020 3:02am Mar 29, 2020 3:02am
Quoting laikos
Hi, I ran the EA on strategy test from 2015-2020, the result look promising. However I personally think using SL would be better for account protection. Having said that I'd modify the code to add SL, if I got time. {image} Cheers
SL addition I have tried personally , results aren't encouraging. Hence signal change acts as SL in here also this EA can be used on multi pairs together - we can't backtest multi pairs .

Given some pair or other trends and the bot adds position scaled in winning direction it will do well, winners will outperform the choppy sideways moving pairs.

Please feel free to try setting prev. day low as SL for long swing position and prev day high as SL for short swing position and try trailing the profits if need be Laikos.. , much appreciated
Scoobi doobi doo
  • #14
  • Mar 29, 2020 3:06am Mar 29, 2020 3:06am
Quoting belka
{quote} I do testing on GBPUSD and the result is amazing. I wished I did it on my real acc. {image}
belka ,

This is no scalper, results are same in demo or live but your 0.01 lot they are giving lot of $$ which broker are you with..
For me 100 pips on 0.01 lots is 10$ at my broker. tks
Scoobi doobi doo
  • #15
  • Mar 30, 2020 5:58am Mar 30, 2020 5:58am
Quoting Scoobidoobi
{quote} belka , This is no scalper, results are same in demo or live but your 0.01 lot they are giving lot of $$ which broker are you with.. For me 100 pips on 0.01 lots is 10$ at my broker. tks
Hi Scoobidoobi,
I know it's not a scalper, but the problem was I did not have enough courage to run it on my live account yet. Maybe after several weeks, I will try it with larger distance for each position. Can we set a limit for the maximum positions open?
I use Global Prime broker and I think it has the same 100 pips = $10 as yours.

Thx & rgds,
  • #16
  • Mar 30, 2020 9:21am Mar 30, 2020 9:21am
Quoting belka
{quote} Hi Scoobidoobi, I know it's not a scalper, but the problem was I did not have enough courage to run it on my live account yet. Maybe after several weeks, I will try it with larger distance for each position. Can we set a limit for the maximum positions open? I use Global Prime broker and I think it has the same 100 pips = $10 as yours. Thx & rgds,
good luck belka!
Scoobi doobi doo
  • #17
  • Mar 30, 2020 11:01am Mar 30, 2020 11:01am
Quoting Scoobidoobi
{quote} good luck belka!
Thank you Scoob, especially for sharing the EA. GBU
  • #18
  • Apr 5, 2020 4:46am Apr 5, 2020 4:46am
Quoting belka
{quote} Thank you Scoob, especially for sharing the EA. GBU
I am running the EA on WTI and Brent on daily with hedge set as 40 it caught the rocketing upmove on both from 21.63 wti and brend 27.12.
I am gonna close all of them given the uncertainty on free markets and interventions from major oil players. thank you
Scoobi doobi doo
  • #19
  • Apr 9, 2020 9:19am Apr 9, 2020 9:19am
Daily breakout centipede system EA on gold (hedge 1200 parameter set , if 400 probably more $$)

Attached Image (click to enlarge)
Click to Enlarge Name: gold_centipede.PNG Size: 166 KB


more to come...
Scoobi doobi doo
  • #20
  • Apr 13, 2020 1:11pm Apr 13, 2020 1:11pm
Attached Image (click to enlarge)
Click to Enlarge Name: centi.PNG Size: 8 KB


Gold and AUD USD longs position doing the needful!
Scoobi doobi doo
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