15-min 60 WMA | Forex Factory

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Attachments: 15-min 60 WMA
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15-min 60 WMA

  • #1
  • First Post: Edited Apr 12, 2012 12:04pm Apr 10, 2012 12:50am | Edited Apr 12, 2012 12:04pm
Hi fellas

I have tested dozens of strategies posted here and most of them are profitable...for me The matter is that I changed them slightly to my style of trading and working hours.

Now I want to post here my new strategy. I like simplicity so here you go:

1. Time frame: 15 min.
2. WMA: 60

Long Entry:

1. Bar/Canlestick should close above 60 WMA. Find the LAST LOCAL MAXIMUM (swing).

Place Buy Stop 2 pips higher the last local maximum + spread. SL place 2 pips below the last local minimum (swing).

Exit: place Sell Stop 2 pips below the last local minimum (swing) when bar/candlestick closes below 60 WMA.

Short Entry:

1. Bar/Canlestick should close below 60 WMA. Find the LAST LOCAL MINIMUM (swing).

Place Sell Stop 2 pips below the last local minimum. SL place 2 pips higher the last local maximum (swing).

Exit: place Buy Stop 2 pips higher the last local maximum (swing) when bar/candlestick closes higher 60 WMA.


Some more examples: http://www.forexfactory.com/showthre...56#post5563556

Example:
I attached 2 screenshots.

P.S.
If bar's high (low) is above (lower) last swing then you need to look for the previous swing and place there buy stop (sell stop).
Attached a screenshot. (Pic.3) Some more examples: http://www.forexfactory.com/showthre...56#post5563556
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Pic 1.PNG Size: 44 KB
Click to Enlarge Name: Pic 2.PNG Size: 26 KB
Click to Enlarge Name: Pic 3.PNG Size: 46 KB
  • #2
  • Apr 10, 2012 12:57am Apr 10, 2012 12:57am
I will also post here statistics of how this strategy will be doing.
I will keep it updated on a regular basis.
Happy trading!!!
  • #3
  • Apr 10, 2012 1:13am Apr 10, 2012 1:13am
i'm sure this works very well. but we need some 'filters', you know...
in my opinion it might be:
- time session
- RS levels
- news
- and others...

what about you?
If You try Destiny'll try...
  • #4
  • Apr 10, 2012 1:42am Apr 10, 2012 1:42am
Quoting ochiroo20
i'm sure this works very well. but we need some 'filters', you know...
in my opinion it might be:
- time session
- RS levels
- news
- and others...

what about you?
Actually, I do not used any filters. I just go with the trend.
60 WMA is my good trend indicator. Swings are like RS levels.

Of coz, during consolidations we all loose money. So, only patience can help us.
  • #5
  • Apr 10, 2012 1:47am Apr 10, 2012 1:47am
Quoting ochiroo20
i'm sure this works very well. but we need some 'filters', you know...
in my opinion it might be:
- time session
- RS levels
- news
- and others...

what about you?
FILTERS -
how about a 61.8% fib retracement AFTER the candle close at 60wma?

also is it possible to run an EA on this?
  • #6
  • Apr 10, 2012 1:51am Apr 10, 2012 1:51am
Quoting marwan2010
FILTERS -
how about a 61.8% fib retracement AFTER the candle close at 60wma?

also is it possible to run an EA on this?
I thought about EA that would detect RS levels using Fractals but they are not the same thing your eye detects
So, if someone can develop EA that will spot nice swings and open positions according to the rules...
  • #7
  • Apr 10, 2012 5:09am Apr 10, 2012 5:09am
Here is the statistics for April.
will keep it updated.
Attached File(s)
File Type: xls 15 min eurusd.xls   7 KB | 877 downloads
  • #8
  • Apr 10, 2012 8:24pm Apr 10, 2012 8:24pm
thank you & good luck dear.

can you attach the screen shots?
If You try Destiny'll try...
  • #9
  • Apr 10, 2012 11:46pm Apr 10, 2012 11:46pm
Quoting ochiroo20
thank you & good luck dear.

can you attach the screen shots?
Yes)) I forgot to mention that if bar's high (low) is above (lower) last swing then you need to look for the previous swing and place there buy stop (sell stop).
Attached a screenshot.
Attached Image (click to enlarge)
Click to Enlarge Name: Pic 3.PNG Size: 46 KB
  • #10
  • Apr 10, 2012 11:54pm Apr 10, 2012 11:54pm
The last trade's screenshot
Attached Image (click to enlarge)
Click to Enlarge Name: Trade 10 Apr 2012.PNG Size: 48 KB
  • #11
  • Apr 11, 2012 12:00am Apr 11, 2012 12:00am
Looking for a new trade...
Attached Image (click to enlarge)
Click to Enlarge Name: Potential trade.PNG Size: 48 KB
  • #12
  • Apr 11, 2012 3:03am Apr 11, 2012 3:03am
Today's trade...
Attached Image (click to enlarge)
Click to Enlarge Name: 11 Apr 2012.PNG Size: 49 KB
  • #13
  • Apr 12, 2012 12:56am Apr 12, 2012 12:56am
Hi Slovforex,

I have some queries about the entry rules.

1. There is without any position open yet after arrow up 1. So... is it correct for the trigger point as mark in the chart which I take the arrow up 1 as previous swing? Or the trigger point should follow arrow up 1A?

2. If taking short position, according to the chart the trigger point should according to arrow down 2 or 3?

Please ignore the S/L which I had adjusted after another swing high.

Thank you in advance for your help.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 14 KB
  • #14
  • Apr 12, 2012 2:07am Apr 12, 2012 2:07am
Quoting sam2vt
Hi Slovforex,

I have some queries about the entry rules.

1. There is without any position open yet after arrow up 1. So... is it correct for the trigger point as mark in the chart which I take the arrow up 1 as previous swing? Or the trigger point should follow arrow up 1A?

2. If taking short position, according to the chart the trigger point should according to arrow down 2 or 3?

Please ignore the S/L which I had adjusted after another swing high.

Thank you in advance for your help.
Hi sam2vt

Thanks for asking. Good questions!

1. Yes, you correctly placed Buy Stop order above Swing 1. Please, look at my screenshot as the situation is almost the samehttp://www.forexfactory.com/showthre...46#post5559646

2. As for the short position. You should have placed Sell Stop 2 pips below the Low of Swing 3, not 2. Here is why. The rules are: "Wait for a Bar/Candlestick to close below 60 WMA and place Sell Stop 2 pips below the Low of the LAST swing". SO, what we see on your screenshot? The candlestick did close below 60 wma. Then we place Sell Stop below Swing 3.
  • #15
  • Apr 12, 2012 2:34am Apr 12, 2012 2:34am
Quoting slovforex
Hi sam2vt
2. As for the short position. You should have placed Sell Stop 2 pips below the Low of Swing 3, not 2. Here is why. The rules are: "Wait for a Bar/Candlestick to close below 60 WMA and place Sell Stop 2 pips below the Low of the LAST swing". SO, what we see on your screenshot? The candlestick did close below 60 wma. Then we place Sell Stop below Swing.
Thanks for reply Slovforex,

I cannot understand for short position entry. For my understanding, before Arrow Down (AD) A, AD 2 is the last swing which fulfill "Wait for a Bar/Candlestick to close below 60 WMA and place Sell Stop 2 pips below...."

Therefore, I will take AD 2 as last swing. Sorry I am a slow learner.

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 14 KB
  • #16
  • Apr 12, 2012 3:00am Apr 12, 2012 3:00am
Quoting sam2vt
Thanks for reply Slovforex,

I cannot understand for short position entry. For my understanding, before Arrow Down (AD) A, AD 2 is the last swing which fulfill "Wait for a Bar/Candlestick to close below 60 WMA and place Sell Stop 2 pips below...."

Therefore, I will take AD 2 as last swing. Sorry I am a slow learner.

Thanks
No, you should not have placed Sell Stop below 2, but only below 3.
I will try to explain why.
Below is your screenshot. I cut it. When you see the price closes below 60 WMA just place Sell Stop below Swing 3. Please, have a look at the first picture.
If only the price goes and closes above 60 wma and then goes down and closes below 60 wma then place Sell Stop below Swing 2.
Please, have a look at the second picture. Sorry mate I am not good at painting)))
Attached Images
  • #17
  • Apr 12, 2012 3:38am Apr 12, 2012 3:38am
Quoting slovforex
No, you should not have placed Sell Stop below 2, but only below 3.
I will try to explain why.
Below is your screenshot. I cut it. When you see the price closes below 60 WMA just place Sell Stop below Swing 3. Please, have a look at the first picture.
If only the price goes and closes above 60 wma and then goes down and closes below 60 wma then place Sell Stop below Swing 2.
Please, have a look at the second picture. Sorry mate I am not good at painting)))
I got it now! Thank you very much slovforex! Please keep posting.
  • #18
  • Apr 12, 2012 3:43am Apr 12, 2012 3:43am
Quoting sam2vt
I got it now! Thank you very much slovforex! Please keep posting.
Yep, I will
But try this system on demo first for at least 2-3 months as every trader should test it during consolidations periods when we need a lot of patience.
  • #19
  • Apr 12, 2012 4:23am Apr 12, 2012 4:23am
Today's trade
Attached Image (click to enlarge)
Click to Enlarge Name: 12 Apr 2012.PNG Size: 50 KB
  • #20
  • Apr 12, 2012 10:13am Apr 12, 2012 10:13am
Today's second trade. I will update the statistics on this weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: Second trade 12 Apr 2012.PNG Size: 41 KB
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