Hey Team,
I'm looking forward to The Bat and hopefully can contribute positively to the thread!
1Trader2
I'm looking forward to The Bat and hopefully can contribute positively to the thread!
1Trader2
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DislikedGood Stuff. Have you got any stats on your testing?
Like win percent and maybe average win and average loss? Of various pairs..
Of course with your names on it, it is a sure bet it will be top notch...
Thanks much, ScottIgnored
DislikedThanks smjones. Yes, we have stats, win percents, total pips, average loss and average win. We are updating those info as well for FF community and we'll post the spreadsheet asap.Ignored
DislikedThankyou very much team Aphid. i really like the way you use the fibs here.
I have a question though. After entering a trade you place a stop above/below the recent swing high/low. Now if after placing a trade price then breaks the opposite BAT line but does not hit the stop then do we just ignore the BAT line in this case and leave our stop at the original swing/high low +/- 10 pips, or should we reverse at that point.
The atatched chart of the current GBP/USD 1hr illustrates what i am trying to say.
We should already be short 1 lot now if price retraces to the 61.8 then it would also break the red BAT line. So do we ignore the BAT line in this case?
Thanks, Wiz.
PS. The current open trade has nothing to do with the BAT.Ignored
DislikedIs this viable on other timeframes, such as the M15? James16 people should know what I'm talking about here. I was trying to work it out on this timeframe but couldnt quite get it right.Ignored
DislikedPlease post backtesting results, and more importantly, forward tested results for at least three months.Ignored
DislikedHi Squash, we tested other timeframes as well and when you use lower timeframes, like most of the other indicators, you get more signals and more loser trades (but smaller losses of course). The reverse is true for longer timeframes. Therefore, we found 1hr time frame is the most suitable to trade.Ignored
DislikedWe do not ignore BAT line at all. In your case, if price retraces to the 61.8 fib, it will hit the red BAT line before touching 61.8 fib level. So you will reverse the position when the price hits BAT line (cancel your pending orders you put to go short from 61.8 fib line) and you will be long with 1 lot. So AFTER ATR line passes through fib lines, it acts as a trailing stop. This means ATR line has priority.
This also answers your first question. But if, for a short position let's say, BAT line is still above the swing high +10pips, then we use swing high +10pips as stoploss and then wait for the price to hit red BAT line to go long.
We hope this is not confusing.Ignored
DislikedI guess I am confused. Price never actually punches through the BAT lines. Now, the BAT lines do tend to run with the prices, but I never see price go through the BAT line.
So what do you mean by that? That it's parallel with the line?
Furthermore, when you get opposite BAT lines that write, they are above the price, so how will you ever get a signal since price doesn't go through them?Ignored
DislikedJust as a heads up, there is a typo (at least I think) on page 4. It says "They will be SHORT trades". According to the chart, they should be long trades as short trades would not make sense. Maybe I'm misunderstanding the system though.Ignored