It took me a mere 2 decades to come up with a new Firebird….
While it has the same core principles adding a single indicator almost reverses all the original Firebird did.
Short recap. The original Firebird had fantastic results in sideways markets, and fatal draw downs in trending markets. It traded frequently and aimed for small profits.
I think I found a way to eliminate the fatal draw down by adding one indicator. But that totally changes the nature of the beast.
Only visually tested on EURUSD D1
Frequent trades >>> Infrequent trade (2x a month in good months, worst was 18 months no trade)
I know many won’t like that, if this becomes a community project I’ll explain it’s not as bad as it seems at first sight. Far from.
30 pip target >>> Several methods. Fixed 90 pip target, and 2 targets predicting methods that often aim for 300 pips.
Higher probability the spikes retrace quickly, meaning less adding of lots, and less draw down.
While the old Firebird flourished in sideways markets the new Firebird stays out of sideways markets.
While the old Firebird killed your account on trends, the new one profits from trends.
What I have is the concept and detailed rules.
What I don’t have is the skills to code it.
I think the logic is (fairly) easy to understand but it has more rules than the original Firebird which makes it a bigger project.
No guarantees it will be as good as it looks.
No forward or back testing available.
So…. I’m looking for a dedicated coder.
Dedicated, because every community project starts with a working EA and then many changes are made based on feedback.
So, it won’t be an afternoon project.
While it has the same core principles adding a single indicator almost reverses all the original Firebird did.
Short recap. The original Firebird had fantastic results in sideways markets, and fatal draw downs in trending markets. It traded frequently and aimed for small profits.
I think I found a way to eliminate the fatal draw down by adding one indicator. But that totally changes the nature of the beast.
Only visually tested on EURUSD D1
Frequent trades >>> Infrequent trade (2x a month in good months, worst was 18 months no trade)
I know many won’t like that, if this becomes a community project I’ll explain it’s not as bad as it seems at first sight. Far from.
30 pip target >>> Several methods. Fixed 90 pip target, and 2 targets predicting methods that often aim for 300 pips.
Higher probability the spikes retrace quickly, meaning less adding of lots, and less draw down.
While the old Firebird flourished in sideways markets the new Firebird stays out of sideways markets.
While the old Firebird killed your account on trends, the new one profits from trends.
What I have is the concept and detailed rules.
What I don’t have is the skills to code it.
I think the logic is (fairly) easy to understand but it has more rules than the original Firebird which makes it a bigger project.
No guarantees it will be as good as it looks.
No forward or back testing available.
So…. I’m looking for a dedicated coder.
Dedicated, because every community project starts with a working EA and then many changes are made based on feedback.
So, it won’t be an afternoon project.
