CPP Scalping Strategy

My pleasure brother, immediately after new day opening

GBPCHF back in zone added another position

Watch out for "Camarilla Pivots Historical" in mql5.
(but not exact same levels) broker data? GMT?

This might help.

Still in GBPCHF came close couple times

stuck in a squeeze
Hoping for pop to upside

Just passing through but found this for MT4. Hanover updated it in 2020. Have no idea if the levels will match Firescapes.

extern double Lots = 0.01;
extern int PipsCushion = 10; // Set to 0 for automatic calculation
extern int Risk = 10;
extern int MagicNumber = 999;
int slippage = 3; // Define slippage value here
color clrNone = clrNONE; // Define color value here
int OnInit()
{
if (!IsTesting()) {
Print("This EA can only be run in the strategy tester.");
return INIT_FAILED;
}

return INIT_SUCCEEDED;
}
void OnTick()
{
// Check if it's a new trading day
if (TimeHour(TimeCurrent()) == 0 && TimeMinute(TimeCurrent()) == 0)
{
double H = High[1]; // Previous day's high
double L = Low[1]; // Previous day's low
double C = Close[1]; // Previous day's close
double R4 = (H - L) * 1.1 / 2 + C;
double R3 = (H - L) * 1.1 / 4 + C;
double R2 = (H - L) * 1.1 / 6 + C;
double R1 = (H - L) * 1.1 / 12 + C;
double S1 = C - (H - L) * 1.1 / 12;
double S2 = C - (H - L) * 1.1 / 6;
double S3 = C - (H - L) * 1.1 / 4;
double S4 = C - (H - L) * 1.1 / 2;
// Check if the current day's CPP lines are inside the previous day's CPP lines
if (S4 > Low[1] && R4 < High[1])
{
// Buy Entry
double buyEntryPrice = R3 + PipsCushion * Point;
double stopLossBuy = Risk / 100.0 * AccountBalance() / (Lots * 100000.0);
double takeProfitBuy = stopLossBuy * 2;
OrderSend(Symbol(), OP_BUYSTOP, Lots, buyEntryPrice, 0, stopLossBuy, takeProfitBuy, "Buy Order", MagicNumber, 0, Blue);
}
if (R4 < High[1] && S4 > Low[1])
{
// Sell Entry
double sellEntryPrice = S3 - PipsCushion * Point;
double stopLossSell = Risk / 100.0 * AccountBalance() / (Lots * 100000.0);
double takeProfitSell = stopLossSell * 2;
OrderSend(Symbol(), OP_SELLSTOP, Lots, sellEntryPrice, 0, stopLossSell, takeProfitSell, "Sell Order", MagicNumber, 0, Red);
}
}
}
void OnDeinit(const int reason)
{
// Close any open orders when the strategy tester ends
for (int i = OrdersTotal() - 1; i >= 0; i--)
{
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
if (OrderMagicNumber() == MagicNumber)
OrderClose(OrderTicket(), OrderLots(), OrderClosePrice(), slippage, clrNone);
}
}

Hey FireScape,

Thank you for your strategy, will try it out

Have found this indi for mt4.

Best

Can you please share the name of the indicator on TradingView

EURUSD In Range

NZDUSD In Range

I thought I’ve seen or tried every indicator by this point but I haven’t seen a system using CPP before, really interesting!

As you open positions at broker open, do you have any trouble with the spread jump that often happens? I guess you wait for the spread to normalise before setting your stop orders?

thanks again for the thread

you're correct, spreads will normalize, and you know which pairs hover around what spread. But yes, great question

If I analyze correctly we have 8 compressed pairs:
EURUSD
GBPUSD
NZDUSD
AUDCAD
AUDJPY
GBPNZD
NZDCHF
NZDJPY

Correct, beautiful thanks

need to make money from the difference between the spread and the target tp, just calculate that and see if the trade makes sense.

For example, if spread is 10 pips but target is 11, probably not worth setting up trade yet.

If spread is 4 pips and target is 20 pips, you can set bracket order as spread will usually only get tighter.

very simple

If we have that many compressed pairs, can we place stop orders on all of them or we can choose only some of them (money management)?
What you do?

Thanks

Definitely don't trade all of them, i usually only trade 2-3 a day, start with the tightest spread pairs and then use some basic analysis to determine which ones makes sense for you. There's no wrong or right here, all setups are equal, just use use some of your experience and discretion. I like to use things like RSI, Market Structure, and other trend identifying indicators to help pick. But again, you dont have to, could randomly pick, or pick them all and lower your position sizes accordingly.

please can someone throw up a charts so I can see if my pivot points match. NU would be great