Sniper Entries w/ Half-Trend RSI Pullback Strategy

Half Trend

1. Amplitude: 10
2. Channel Deviation: 2
3. Only show half trend line
   
   Attached File(s)

   Half Trend Indicator.mq4   6 KB | 1,029 downloads
   Attached File(s)

   Half Trend Indicator.mq4   6 KB | 710 downloads
   
   

RSI

1. Length: 5
2. OB: 80
3. OS: 20

Timeframe

1. Any

Long

1. Half Trend is blue
2. Price is under Half Trend
3. RSI crosses up through 20 level
   

Short

1. Half Trend is red
2. Price is above Half Trend
3. RSI crosses down through 80 level

Exit

1. Price touches Half Trend Line
2. 1:1 with SL

Stop Loss

1. High or Low of the candle that crossed the OS/OB level with pip cushion
2. Half Trend changes color

R:R is very nice. SL is always smaller than TP

I will be posting the last 20 setups of every major pair

CASE STUDY: EURUSD H4 17 WINS 3 LOSSES

Attached Image (click to enlarge)

LETS LOOK AT THE LOSERS - 7TH TRADE

10TH TRADE

15TH TRADE


SOME WINNERS

This is not a valid entry

If price closes already touching the half trend, there's no trade

CASE STUDY: GBPUSD H4 16 Wins 7 Losses

CASE STUDY: NZDUSD H4 17 Wins 3 Losses

CASE STUDY: USDJPY

In the process of coding a strategy script so we can back test the results over the years


this is just with Half Trend so far

It appears you win in trending and loose on ranging markets.
Correct?

More losers tend to appear in ranging markets definitely. It's still very accurate, but that's definitely a weakness.

do you have the code for thishalf trend so thet we can use it in trading view

It's called HalfTrend by Everget
//@version=4


// Copyright (c) 2021-present, Alex Orekhov (everget)
study("HalfTrend", overlay=true)

amplitude = input(title="Amplitude", defval=2)
channelDeviation = input(title="Channel Deviation", defval=2)
showArrows = input(title="Show Arrows", defval=true)
showChannels = input(title="Show Channels", defval=true)

var int trend = 0
var int nextTrend = 0
var float maxLowPrice = nz(low[1], low)
var float minHighPrice = nz(high[1], high)

var float up = 0.0
var float down = 0.0
float atrHigh = 0.0
float atrLow = 0.0
float arrowUp = na
float arrowDown = na

atr2 = atr(100) / 2
dev = channelDeviation * atr2

highPrice = high[abs(highestbars(amplitude))]
lowPrice = low[abs(lowestbars(amplitude))]
highma = sma(high, amplitude)
lowma = sma(low, amplitude)

if nextTrend == 1
maxLowPrice := max(lowPrice, maxLowPrice)

if highma < maxLowPrice and close < nz(low[1], low)
trend := 1
nextTrend := 0
minHighPrice := highPrice
else
minHighPrice := min(highPrice, minHighPrice)

if lowma > minHighPrice and close > nz(high[1], high)
trend := 0
nextTrend := 1
maxLowPrice := lowPrice

if trend == 0
if not na(trend[1]) and trend[1] != 0
up := na(down[1]) ? down : down[1]
arrowUp := up - atr2
else
up := na(up[1]) ? maxLowPrice : max(maxLowPrice, up[1])
atrHigh := up + dev
atrLow := up - dev
else
if not na(trend[1]) and trend[1] != 1
down := na(up[1]) ? up : up[1]
arrowDown := down + atr2
else
down := na(down[1]) ? minHighPrice : min(minHighPrice, down[1])
atrHigh := down + dev
atrLow := down - dev

ht = trend == 0 ? up : down

var color buyColor = color.blue
var color sellColor = color.red

htColor = trend == 0 ? buyColor : sellColor
htPlot = plot(ht, title="HalfTrend", linewidth=2, color=htColor)

atrHighPlot = plot(showChannels ? atrHigh : na, title="ATR High", style=plot.style_circles, color=sellColor)
atrLowPlot = plot(showChannels ? atrLow : na, title="ATR Low", style=plot.style_circles, color=buyColor)

fill(htPlot, atrHighPlot, title="ATR High Ribbon", color=sellColor)
fill(htPlot, atrLowPlot, title="ATR Low Ribbon", color=buyColor)

buySignal = not na(arrowUp) and (trend == 0 and trend[1] == 1)
sellSignal = not na(arrowDown) and (trend == 1 and trend[1] == 0)

plotshape(showArrows and buySignal ? atrLow : na, title="Arrow Up", style=shape.triangleup, location=location.absolute, size=size.tiny, color=buyColor)
plotshape(showArrows and sellSignal ? atrHigh : na, title="Arrow Down", style=shape.triangledown, location=location.absolute, size=size.tiny, color=sellColor)

alertcondition(buySignal, title="Alert: HalfTrend Buy", message="HalfTrend Buy")
alertcondition(sellSignal, title="Alert: HalfTrend Sell", message="HalfTrend Sell")

Got the logic down for signals, just need to work on the exit before migrating to full blown strategy

We're going to want to change the RSI length depending on the PAIR. For EURUSD length of 7 seems disgustingly accurate

I'll do extensive back testing with parameters on each pair and create a spreadsheet of best settings accordingly

Looking at some additions

thinking about adding some additional logic to support the strengths of trading in trend.

The Simple Cause of Failing at DayTrading and How to Win Consistently
Identify these three states during the trading session: Happening, Not Happening, Wanting Something to Happen.
1. Happening - your setups are appearing - take the money-managed trade.
2. Not Happening - your setups are not appearing - wait and do nothing.
3. Wanting Something to Happen - you introduce emotions - you take an inappropriate trade, lose and then try to dig out of the hole.
Check your daily journal for "Average Total Efficiency" and see how many times your Efficiency<0 when you have been wanting something to happen.
When you can recognize when your mind is generating the emotion that is wanting something to happen, and then take a step back, you have put yourself in a position to win consistently.
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Take a look at my strategy is very similar
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thanks for sharing, I don’t use mt4 or 5. Do you use half trend?

Here's the EA version (make sure to change the indicator name to match the indicator file name and location, mine was in a folder called "Forex Factory")
**I just edited this so re-download**

I made some edits to the indicator as well (mainly named the buffers)

What is the os/ob level? Can you show a screenshot of your rsi setting where you input this numbers ? Thanks