The strength of BE system

These are the results of the tests for each chart and the corresponding set file. Two of them I had to add multiple instances of the indicator with different set files and used the secondary lines to close the trades (as discussed in the original rules)
In the Math Trader 7 chart I had a third instance of the indicator with the ATR Band Multiplier set to 0 in order to get a mid line.

So going forward I would suggest to use the following indicators to forward test.

Target Bands / ATR Channels mtf / TMA nrp+bands+alerts mtf

Secondary indicators would be.

Math Trader 7 / Bollinger Bands shaded

I will be testing with the first 3.

Good Luck.

Chris

This is my set up on the Gold 1M charts...subtly different.

This is pretty much as long as I can trade tonight...here is the running total.

I will post the rest of the results tomorrow after work.

It looks like I will probably take this down to 2 charts because the 2 on the left look exactly the same.

Trading day two update...I will be doing analysis of all trades for this entire week on the Gold 1M charts for the three indicators.

Today was a loss day all round.

I have the three charts to post with todays totals and a running total for two days (which the first day is the same as all the tests done earlier).

Ok here are the charts...ignore the yellow results for now, I am testing an idea.





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Hi Everyone

Another positive day all round

Here are todays totals and 3 day running totals (again ignore the yellow numbers)
Gold 1M charts

Hi cfudge;

First of all, thank you so much for sharing your ideas.
I have a question regarding the output in the image below. I believe the conditions for a short trade are met, but does the trade close as soon as the green dot appears on the next bar?
Thanks in advance.

When the pink dot showed up the candle closed outside the bands, so that was not a valid trade. The candle with a dot has to close inside the band but not touch the mid line.

A trade will close for 3 reasons 1/ at BE 2/ a candle closes beyond the band we are trading away from (before a candle closes beyond the mid line 3/ a candle closes beyond the opposite band.

Chris

Day 4 and we have increased our running totals across all 3 charts...great news.
Here are the charts, with the daily total and the 4 day running total

I will now disclose what the yellow numbers are for. I have been testing the ATR and TMA bands with a variation on moving to BE. It involves only waiting for a wick to touch the mid line instead of a close. If you look at the results it invariably seems to increase the pip count. I will continue this variation until the end of this week, along with the rest of the testing.

I feel that after the full week testing on the Gold 1M chart we should have enough results to make a decision as to weather or not we have a profitable system. (equates to almost 7200 candles).

Chris

Take a look at this. I created an EA based on the ATR indicator. You can use it until the 25th of December. It shows the same trades as cfudge did by hand. But doing a backtest over a longer periode of time gives a bad result.

Thank you for the EA gift Cologne I appreciate it, Iwill work with it over the weekend...

Slower day...very small profits.

Here are the 5 day running totals...

Chris

Today was a down day, have to take the wins with the losses I guess.

Here is the 6 day running total for Gold 1M charts

Chris

Hi All
I have re-furbished this system, I think to be more profitable.

I have adjusted the entries and exits and no more BE.

The old entry was to wait for price to pierce the bands with a wick or a close then wait for a candle with a dot which did not pierce the mid line.

The new criteria is to wait for a candle with a dot which does not pierce the mid line, then open a trade in the direction of the dot (green=buy-pink=sell)
We will set a protective SL at 150 pips.

The old way of exits was to close on the pierce of opposing band, moving to BE if the mid line was pierced.

The new exit is to close when another dot of the same colour (that initiated the trade) prints with a candle close beyond the midline or a candle closes beyond the opposite band. There is no reason for BE anymore.
Close all open trades on friday 23:55 broker time

I have analyzed the Gold 1M chart from the latter part of thusday and all of friday.

I got a total of 37 trades...
31 were winners
2 were losers (small)
5 hit SL
Total pips gained was 875 pips.

Here is a snapshot of some winning trades closing on both similar dot and some closing with a candle closing beyond opposite band and 1 SL hit.

Chris

This the beginning of today ...

5 trades so far
4 wins
1 sl
total banked 250 pips

This was the last few trades I caught before I go to bed.
8 trades
7 winners
1 SL
total pips in 7 hours 489

Dear cfudge,

Thank you for the new system and for your efforts to improve it.

Could you send a screenshot of what it looks like when you open a position? So that we can see the signals when they appear.

Thanks

This is the chart showing todays trades...

The totals for today are;
37 trades
32 winners
0 losers
5 SL
total pips 1650


So to recap since late thursday;
74 trades
63 winners
2 small losers
10 SL hit
total pips gained 2525
INCREDIBLE

Chris
PS-for anyone wondering, this is a non re-paint system

Utmost impressing!

It seems to me, that this is matured for making a robot????

Yes that would be the next obvious path...
Chris