Hi all,
I've been looking around for a RULE based system for a while now. Mostly on the Dailys, but recently I've been looking for something that could be an EA as well. The aim was to have something rule based, from indicators to SL and TP. Here's something I've found interesting. Been testing a similar thing on the dailys and have made a little more than I've lost... feel free to read on.
The Bishops Rules
Timeframe: Should work on all. I've been looking at 30m.
Pairs: Currently testing on GU and EU will look at more.
Custom Indicators: + +
Other Indicators: 233 and 55 SMA of close.
My Template:
How to trade: At the open of a new bar, check the bar before. If the OSMA and the MACD have come into agreement (either both > or < 0) AND the close of the bar is above/below BOTH the SMA's then you've got a trade.
TP and SL: Again it's off the bar before where we confirmed the trade. Use the ATR channels. I've been testing with 1.5*ATR(3) and it seems to be working ok. I'd like to mess with it some and see if I can't get a good win rate with something better than 1:1 RR ratio. Hopefully somebody will build an EA so we can mess with this and test it backwards before forwards.
Money Management: Fixed percentage. I'd be open to some semi martingale management but only with some solid stats on runs of losses.
Green lines are wins, Red lines are losses. All at 1:1 Risk Reward.
Some Notes: Only take a trade when the OSMA and MACD come into agreement. If they were already in agreement then no trade.
Why I put this up here is to share, and to employ the help of the collective to take a look at multiple timeframes and pairs to gain some more insight as to the vailidity of this idea. Feel free to mess with the ATR's and such. Please report back your findings!
An EA would be GREAT. I've had some preliminary help with it but it needs some tweaking. I'm a thinker but my programming skills are zilch!
Enjoy
Stuart
I've been looking around for a RULE based system for a while now. Mostly on the Dailys, but recently I've been looking for something that could be an EA as well. The aim was to have something rule based, from indicators to SL and TP. Here's something I've found interesting. Been testing a similar thing on the dailys and have made a little more than I've lost... feel free to read on.
The Bishops Rules
Timeframe: Should work on all. I've been looking at 30m.
Pairs: Currently testing on GU and EU will look at more.
Custom Indicators: + +
Other Indicators: 233 and 55 SMA of close.
My Template:
How to trade: At the open of a new bar, check the bar before. If the OSMA and the MACD have come into agreement (either both > or < 0) AND the close of the bar is above/below BOTH the SMA's then you've got a trade.
TP and SL: Again it's off the bar before where we confirmed the trade. Use the ATR channels. I've been testing with 1.5*ATR(3) and it seems to be working ok. I'd like to mess with it some and see if I can't get a good win rate with something better than 1:1 RR ratio. Hopefully somebody will build an EA so we can mess with this and test it backwards before forwards.
Money Management: Fixed percentage. I'd be open to some semi martingale management but only with some solid stats on runs of losses.
Green lines are wins, Red lines are losses. All at 1:1 Risk Reward.
Some Notes: Only take a trade when the OSMA and MACD come into agreement. If they were already in agreement then no trade.
Why I put this up here is to share, and to employ the help of the collective to take a look at multiple timeframes and pairs to gain some more insight as to the vailidity of this idea. Feel free to mess with the ATR's and such. Please report back your findings!
An EA would be GREAT. I've had some preliminary help with it but it needs some tweaking. I'm a thinker but my programming skills are zilch!
Enjoy
Stuart
especially