[quote=sburtonhome;4240529]That is VERY strange. Make sure you are:
1) On a 4 Hour chart
2) EMA - 21
3) SMA - 89[/quote
HI, I just happened to come across your thread and seems its similar to a strategy i have been looking at and went live with today! conicidence lol (see postings via my username). anyway i have a few questions regarding your setup, esp relating to 21 EMA & 89 SMA, i have attached a screen shot and can you tell me if i have got the settings right or wrong?? (pic3.jpg)
Secondly, my system (see today's 4h setup) is based on 4H also, but i use STO & MACD with confirmation, if both are at the very bottom then i assume they can only go one direction which is up right (vice versa for a SELL), my entry then relies on the next 4H candle, if that is above (or below for a SELL) for a BUY then i enter, today this occured on the EUR/USD @ 9am price was 1.3221, then next 4H candle @13:00 was 1.3276 (+55pips)(4hr.jpg), so by time i entered price was 1.3265 and now stands at 1.3388 (although i took profit and out of trade @1.3383 = +118 as first trade didn;t want a loss!)
and Thirdly, why wait for the 21 & 89 lines to cross over for another trade, isn;t there a chance (like on ur video) that price could return to original position, or even pass it and you could make a loss? why not watch the MACD lines and if say a BUY, once 2 red candles appear or 2 green candles get smaller you exit the trade, surely you would come out at least profit at the top of your trade? see last screenshot (entry.exit.jpg)
3. add trade will have same SL/TP concept as original.
for this system, i would consider add only when the current trade is closed in profit. its like a new trade with same entry/exit criteria. but if your backtest results prove that only the first cross gives good profitability, not the subsequent crosses then we can remove this idea
has anyone tried this on H1 ? sometimes H4 is too slow
drag script to price of stoploss on the chart
set your risk in percent
push oke
and order is opened on the chart
with the MM of your risk also the take profit
My G/U long met my 2.5 x H4 ATR(20) trailing stop... for a couple of pips profit.
Looks like I will have to bump the ATR multiplier to 3.0 next time round for G/U.
Trial and error.
G/J is in range, will be breaking out soon. Hasn't made a pip of profit yet.
On a brighter note my U/CHF short has locked in 144 pips and looks like it will meet my profit target of 266 pips either today or tomorrow.
EDIT: I've closed my U/CHF short for a 200 pip profit as it didn't quite get to the profit target and it was starting another retracement back to the 21 EMA, and it would have been a very big retracement too!
A/U long is on the right track already locking in 53 pips profit target is 344 pips according to SBH rules, but knowing the A/U I am doubting that it will ever reach the 1.02239 mark.
EDIT: I've moved the A/U stop to BE because of the retracement.
Now using 3.0 x H4 ATR(20) as trailing stop for this pair.
This is where the trailing stop comes in handy, one less thing to think of - when to "really" get out.
If you are trying several trading systems at the same time, be careful as this will manage ALL symbol orders trailing stops based on the settings you use.
For this system, use the following settings:
ATR_TimeFrame = 240 (240=H4, 60=H1, 30=M30, etc...)
ATR_Period = 20 (You can change this to suit you, but this is standard)
ATR_Multiplier = 3.0 (Use this as a starting point, then lower/increase it if you find that the trailing is too loose/tight)
SBH,
There are far better ATR Trailing Stop EAs out there.
SteveHopwood's MPTM (Multi-Purpose Trade Manager) for instance has plain vanilla trailing stops, ATR stops and jump stops and even a BE at pips profit, and start trail from BE...
But since you asked for a way to automate the ATR multiplier trailing stop idea, I guess this will suit you... for now.
