High low bar chart only & how to trade them! 305 replies
Candle High/Low On Chart 2 replies
Weekly High & Low on daily chart... 3 replies
DislikedI used this system on GBP/USD and set the take profit at 50 and SL likewise and made 54 pips.
Looks like using 50 on that pair may work well.. and of course, you can trail the SL on a particularly "hot" day.
Nice system so far.Ignored
DislikedInteresting. I looked at something very similar about 7 months ago, but it was based on a 25 SMA off high and low. With GBPJPY I was looking at 100, 200, and 300 levels on the SMAs for take profit levels. SL was opposite side of the channel. The wins could be spectacular but the weakness was a direct result of the large volitility of this pair and the high possibility of being stopped out in a sideways market. It never occured to me to use something like a 100 MA variant as a filter (amazes me how small my mind is sometimes!). I also kept trying to find a way of catching the snap back to the trigger SMA (another unwise move). I'm at work right now and can't fiddle with any charts -- but I'm eager to look at this when I get back home.
I do have a question. According to the rules as posted, if price jumped up above the 100 EMA, and the next bar opened still crossed, I want to confirm, you would take that trade even if the the channel had not crossed. Is that correct? As I said, I can't take a proper look right now, but I suspect we'll find some big retracing moves that qualify for a signal, but are really far from the 13 SMA, and you'll get caught as the price falls before the trend continues. It may just be "grist for the mill"... the inevitable price you'll have to pay with this system, but I'm throwing it out for everyone to comment on.
Great little system. I'm betting it is a long term winner, and something that will easily lend itself to working in an EA.Ignored
DislikedThanks for posting this JR. I will quickly come up with a custom indicator first. Then later depending upon how successfully the system progresses , I will add alert/convert to EA.Ignored
It is a very easy EA to code. However 2007 win/loss is around 1:1. You may need to think about other filter etc.
Stoploss/Takeprofit - no need to explain
Riskpertrade - % risk per trade
Trades - number of signals/trades you are willing to take
MA1 - the channel SMA as per rule
MA2 - the filter EMA as per rule
DislikedI'm sorry, but is this an EA for another system?Ignored
This is the EA for the system you described. you can use the visual mode to check it validity. It is just my program writing style so it all looks similar. I forgot to include account calculations though and forgot to remove demo restriction. So here is the new EA:
Mini- if you are using mini account
Microlots - if your broker support microlots