I have finished writing the first version of an EA based on the Turtle trading system, with a MACD + Stoch filter. I will not explain the Turtle trading system, since its already well known. My filters on top of the breakout entry signals are (1) H1 MACD(5,13,1): check if th last 6 bars are positive for a long entry, or negative for a short entry, AND (2) M15 Stochastic(5,3,3): for long signals, entry when stoch crosses 30 up; for short signals, entry when stoch crosses 70 down. Thats all!
If you have read about the Turtle trading, the emphasis is on discipline and following rules exactly. So I thought what better way to implement this strategy than automated trading. I basically wanted an EA that I can put on a small account, say $500, and let it trade without any manual intervention. I have finished the first version of my system, and the backtest results look great! I'm attaching the report from strategy tester. The test was ran from Jan 1 2008 to Sept 16 2008. It was started on initial deposit of $500, and was able to produce net profit of $19k. It produced 83.33% winning trades.
Thanks, and good luck!Ignored
For exiting you use the 10/20 day low/high rule or you exit a position when you get entry signal in opposite direction?