Hello members,
I would like to share a system in hopes that one of our talented programmers here on FF will write an EA. This is a simple daily system with a somewhat unique approach on money management. Here are the details of the system:
Indicators:
1. 200 SMA (option to change period by user)
2. ADR - 50 pips or greater on the previous 10 days
3. PSAR - this can be optional to use with the SMA (user defined) that allows trades only to be taken when both indicators agree
R/R ratio: 1:1
Stop loss: (user defined) will be using 100 pips to include spread
Take profit: (user defined) will be using 100 pips after covering spread
Pairs:
All that have an ADR equal to or greater than 50 pips
Broker: Personal preference (will test using IBFX w/10K starting balance)
Money Management: Each contract will be equal to .1 lot. (option to change lot size per user)
Example using MM: To begin open 1 contract for each pair in the direction of the indicator(s). If a win is obtained, continue with 1 contract. If a loss is obtained in a given pair then increase 1 contract for the next trade. Continue to add 1 contract if consecutive losses. Once a win is generated after a loss reverse contract size by 1 until the contract size returns back to the beginning of 1 thus eliminating all the losing trades.
Exaple of opening a trade:
Long - at the open of a new candle if the previous candle is > 200 SMA (optional to add the PSAR and trade only when both agree)
Short - at the open of a new candle if the previous candle is < 200 SMA
(optional to add the PSAR and trade only when both agree)
Let the position run until either the take profit or stop loss is hit.
I would like to share a system in hopes that one of our talented programmers here on FF will write an EA. This is a simple daily system with a somewhat unique approach on money management. Here are the details of the system:
Indicators:
1. 200 SMA (option to change period by user)
2. ADR - 50 pips or greater on the previous 10 days
3. PSAR - this can be optional to use with the SMA (user defined) that allows trades only to be taken when both indicators agree
R/R ratio: 1:1
Stop loss: (user defined) will be using 100 pips to include spread
Take profit: (user defined) will be using 100 pips after covering spread
Pairs:
All that have an ADR equal to or greater than 50 pips
Broker: Personal preference (will test using IBFX w/10K starting balance)
Money Management: Each contract will be equal to .1 lot. (option to change lot size per user)
Example using MM: To begin open 1 contract for each pair in the direction of the indicator(s). If a win is obtained, continue with 1 contract. If a loss is obtained in a given pair then increase 1 contract for the next trade. Continue to add 1 contract if consecutive losses. Once a win is generated after a loss reverse contract size by 1 until the contract size returns back to the beginning of 1 thus eliminating all the losing trades.
Exaple of opening a trade:
Long - at the open of a new candle if the previous candle is > 200 SMA (optional to add the PSAR and trade only when both agree)
Short - at the open of a new candle if the previous candle is < 200 SMA
(optional to add the PSAR and trade only when both agree)
Let the position run until either the take profit or stop loss is hit.
Attached File(s)