Hello!
I am using a system i found out last year on this forum, and although it was an old one, still works quite well, and, with some modifications at TP, it maximizes the winning rate up to somewhere around 90%. It could have been just a good period, but the system works for sure.
It's not a system i developed, as i said before, it was posted by Bull101 and can be found here: http://www.forexfactory.com/showthread.php?t=91383
I'll just copy/ paste the important info for those who would like to create an EA, and then post my money management modifications.
Development
It all started when I added the awesome oscillator to a chart and began to realize its true potential. However, you will quickly realize that the Awesome Oscillator alone is not a powerful enough indicator. After months of testing over 25 different indicators, with god knows how many different setups, I have finally determined the following:
1. The Awesome Oscillator determines the general direction of a trending market with great accuracy.
2. ADX determines the strength of the current trend, as well as a confirmation on direction.
3. Stochastic helps determine when a trend has truly changed directions.
In Conclusion,
With the awesome Oscillator showing the direction of the market, the adx showing you that it has enough power to make you a decent amount of pips, and the stochastic oscillator confirming a trend move, these 3 indicators working together provides a very reliable entry signal.
These three indicators might sound like it will be confusing, but it is actually very simple, please continue reading for the full details of the system.
------------------------------------------
The System
Chart Setup
Open a 4hr Chart.
Add the Awesome Oscillator.
Add the Stochastic Histogram, with 5,3,3 settings.
Add the Advanced_ADX Indicator with a 13 day period.
Long Entry Criteria:
1. The Awesome Oscillator is Green.
2. The Stochastic Histogram is Green.
3. The ADX Indicator is Green AND above the 15 line.
Its that simple! 3 Greens means GO LONG!
Short Entry Criteria:
1. The Awesome Oscillator is Red.
2. The Stochastic Histogram is Red.
3. The ADX Indicator is Red AND above the 15 line.
That's it for shorts! 3 Reds means SHORT.
As it's written up, the system is only used on 4HR.
The modification that i did was that i set the TP to ONLY 5 pip, and the SL it's at the end of the 4hr candle.
Because the request was for an EA...i'll write what would be needed from it.
The explanation are not technical.
I would like a system that would open a BUY when those three green are met, and a SELL when three reds ar met, only if the conditions are met at the open of a 4HR candle. The TP would be 5pip, and the SL at the end of the 4hr candle.
If this would be possible, i woud be very happy to have an EA spotting all the ocasions that i lose while i'm at work, or sleeping.
Thanks a lot for your help!
I am using a system i found out last year on this forum, and although it was an old one, still works quite well, and, with some modifications at TP, it maximizes the winning rate up to somewhere around 90%. It could have been just a good period, but the system works for sure.
It's not a system i developed, as i said before, it was posted by Bull101 and can be found here: http://www.forexfactory.com/showthread.php?t=91383
I'll just copy/ paste the important info for those who would like to create an EA, and then post my money management modifications.
Development
It all started when I added the awesome oscillator to a chart and began to realize its true potential. However, you will quickly realize that the Awesome Oscillator alone is not a powerful enough indicator. After months of testing over 25 different indicators, with god knows how many different setups, I have finally determined the following:
1. The Awesome Oscillator determines the general direction of a trending market with great accuracy.
2. ADX determines the strength of the current trend, as well as a confirmation on direction.
3. Stochastic helps determine when a trend has truly changed directions.
In Conclusion,
With the awesome Oscillator showing the direction of the market, the adx showing you that it has enough power to make you a decent amount of pips, and the stochastic oscillator confirming a trend move, these 3 indicators working together provides a very reliable entry signal.
These three indicators might sound like it will be confusing, but it is actually very simple, please continue reading for the full details of the system.
------------------------------------------
The System
Chart Setup
Open a 4hr Chart.
Add the Awesome Oscillator.
Add the Stochastic Histogram, with 5,3,3 settings.
Add the Advanced_ADX Indicator with a 13 day period.
Long Entry Criteria:
1. The Awesome Oscillator is Green.
2. The Stochastic Histogram is Green.
3. The ADX Indicator is Green AND above the 15 line.
Its that simple! 3 Greens means GO LONG!
Short Entry Criteria:
1. The Awesome Oscillator is Red.
2. The Stochastic Histogram is Red.
3. The ADX Indicator is Red AND above the 15 line.
That's it for shorts! 3 Reds means SHORT.
As it's written up, the system is only used on 4HR.
The modification that i did was that i set the TP to ONLY 5 pip, and the SL it's at the end of the 4hr candle.
Because the request was for an EA...i'll write what would be needed from it.
The explanation are not technical.
I would like a system that would open a BUY when those three green are met, and a SELL when three reds ar met, only if the conditions are met at the open of a 4HR candle. The TP would be 5pip, and the SL at the end of the 4hr candle.
If this would be possible, i woud be very happy to have an EA spotting all the ocasions that i lose while i'm at work, or sleeping.
Thanks a lot for your help!
Attached File(s)
