Hi.
The basic premise of the thing should be to prove to me a concept I've been wondering about, sort of a coin toss trend follower...
Ok here are the rules:
Timeframe is daily or higher (don't know if this can be made to just work on bar basis? if so, then just use generalized bars)
With no position:
As soon as the last/latest bar closes we compare the close of the bar to the close of the previous bar.
If it is lower we enter a short trade UNLESS we're already in a trade.
If it is higher we enter a long trade UNLESS we are already in a trade.
The entry is immediately at the close.
The stop is the low of the bar that just closed on a buy, the high of the bar that just closed on a sell.
We're in a trade now:
If the position is still alive then move the stop to the new bars low/high (plus x pips, let's say 10 pips for now, would also be nice to have this marked in the source so one can adjust it) depending on current direction.
If we're short move it to the last CLOSED bars high.
If we're long move it to the last CLOSED bars low.
If the position gets stopped out move back to the "no position, close comparison/entry" phase.
I would suggest also adding a parameter for the minimum price difference between the two closes of the bars for a direction to be valid. For example price difference has to be at least 15 pips to be considered as an entry, or > 5 or > 20 etc.
This should be marked/commented accordingly, then one can tinker with that and see if it matters at all.
Obviously exits are done by the stops.
Position size is always identical and 1, I just want to see the pips that come out of this, position sizing can always be done manually later.
Anyone up for it?
Would love to see these results
Regards,
SeekingLight
The basic premise of the thing should be to prove to me a concept I've been wondering about, sort of a coin toss trend follower...
Ok here are the rules:
Timeframe is daily or higher (don't know if this can be made to just work on bar basis? if so, then just use generalized bars)
With no position:
As soon as the last/latest bar closes we compare the close of the bar to the close of the previous bar.
If it is lower we enter a short trade UNLESS we're already in a trade.
If it is higher we enter a long trade UNLESS we are already in a trade.
The entry is immediately at the close.
The stop is the low of the bar that just closed on a buy, the high of the bar that just closed on a sell.
We're in a trade now:
If the position is still alive then move the stop to the new bars low/high (plus x pips, let's say 10 pips for now, would also be nice to have this marked in the source so one can adjust it) depending on current direction.
If we're short move it to the last CLOSED bars high.
If we're long move it to the last CLOSED bars low.
If the position gets stopped out move back to the "no position, close comparison/entry" phase.
I would suggest also adding a parameter for the minimum price difference between the two closes of the bars for a direction to be valid. For example price difference has to be at least 15 pips to be considered as an entry, or > 5 or > 20 etc.
This should be marked/commented accordingly, then one can tinker with that and see if it matters at all.
Obviously exits are done by the stops.
Position size is always identical and 1, I just want to see the pips that come out of this, position sizing can always be done manually later.
Anyone up for it?
Would love to see these results
Regards,
SeekingLight
Trust price. Know yourself.
