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100% Mechanical PinBar system

  • #41
  • Feb 11, 2011 4:06pm Feb 11, 2011 4:06pm
My problem is that on the daily/weekly charts, the support/resistance could 100-200 pips away. Then you're facing a take profit of the same magnitude for a 1:1 or 1:2 Risk:Reward which is rather large.

Therefore, do you find more success with retracement entries or break of the candle high/low entry?

Soda
  • #42
  • Feb 11, 2011 8:48pm Feb 11, 2011 8:48pm
To be honest, I don't look at daily etc charts, just 5, 15, 30min charts these days as they seem to give me more opportunities. Maybe a daily trader will help you with your question.
"Even if you fall down face first, you still went forward."
  • #43
  • Apr 19, 2011 1:49am Apr 19, 2011 1:49am
Quoting juicyt
I've been looking at and trading pins for many years and I can only give you this advice if you want to move forward... Think different than most people, but still use what works for most.

Use sup/res (this means you need an indicator to display this and it can be done if you use monthly OHLC) Use possibly fibs (once again you need an indicator but can be done) and use maybe MA's for confluence as dynamic sup/res. If you do this, loosen up on your pin criteria, you will do well. I would start at monthly OHLC as sup/res, use a zigzag indicator...
I know this thread is a bit old...but this is great advice, any more where that came from? Going down this road myself and what you've said so far resonates.
Hope for the best, but prepare for the worst
  • #44
  • Nov 29, 2011 9:56pm Nov 29, 2011 9:56pm
http://www.forexfactory.com/showthread.php?t=328346
  • #45
  • Jul 5, 2013 3:15am Jul 5, 2013 3:15am
Wanted to revive this old thread of mine.

The aim: Get a profitable 100% mechanical system based on pinbars. Most will say it's not possible without manual intervention but why not try I would like to get a pinbar EA on a forward testing VPS.

I have managed to do backtests that show potential, if you have time and want to help and test some settings and share your backtests, maybe we can develop something together.

Please only post if you want to make a positive contribution or have time to invest and do backtests.

The EA in the first post works on any timeframe and have a few interesting settings, if you have any questions please ask! Depending on your broker you may have to add a 0 to the pip fields, e.g. 200 for 20 pips.
  • #46
  • Jul 5, 2013 7:16am Jul 5, 2013 7:16am
If you need manual intervention, that means the logic behind the EA is not comprehensive enough.
  • #47
  • Jul 5, 2013 8:40am Jul 5, 2013 8:40am
Quoting pickers
If you need manual intervention, that means the logic behind the EA is not comprehensive enough.
Exactly, I want to develop the logic and stay away from manual intervention.
  • #48
  • Feb 5, 2017 6:06am Feb 5, 2017 6:06am
Hi all, Hi pasopvirpot.
I don't know why such a promising strategy has been abandoned after only 47 posts. I don't get why nobody (or at least so few traders) got interested in back and forward testing such a great strategy. I trade sometimes this strategy on timeframes >=H4, and I find it very profitable, where is everybody? pasopvirpot, is there any chance to get the .mq4 file for the EA?

Revive this thread please!!
Ionut
  • #49
  • Jun 24, 2018 2:26am Jun 24, 2018 2:26am
Sir,
I read read the word EA. What it means
  • #50
  • Jun 24, 2018 4:44am Jun 24, 2018 4:44am
Quoting vk4
Sir, I read read the word EA. What it means
EA = Expert Advisor (robot trading).
For any info google it please..
Gambling = 0% skill, 100% luck. Trading = 1% skill, 99% luck.
  • #51
  • Last Post: Jun 25, 2018 1:07am Jun 25, 2018 1:07am
subs. Thanks and
Regards
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