Oritz 4hrs Strategy

Hello fellow traders,

First, let me thank Forex Factory for providing a great forum for every trader to share profitable trading strategies. I have a regular job hence I trade 4hrs chart mostly and after several years of trying I seem to have found some profitable strategy with rather simple indicators.

However, I miss most good trade entry signals while I am either sleeping or doing my regular day job and my emotions sometimes get in the way when I want to enter trade later. Please I need an EA of this simple strategy and I have attached the custom Bollinger Bands_stop_v2 indicator. The other indicators are the Commodity Channel Index (CCI) and Relative Strength Index (RSI). A screenshot is also attached.

Entry:
1. The main trigger is CC1 (40 period, typical price) crossing up/down zero for buy/sell respectively.
2. Filter the entry with RSI (20 period, typical price) above 54/below 46 for buy/sell respectively.
3. And (or) Filter with the attached Bollinger band_stop (20 period, 1.0 deviation) when it turns blue/red for buy/sell respectively.

Exit:
1. Use the reverse signal of CCI (40 period, typical price) and/or
2. The reverse of RSI (20 period, typical price) (the RSI is when it reverses and cross above/below 50 for exiting a sell/buy respectively) please not that it does not use the 54/46 rule for exit, this is very important.
3. The reverse of Bollinger band_stop blue and red colours.

Please note that the trigger and filters are effective after the close of the candle. Add money management like breakeven, trailing stop and if possible a 3 level lock profit to maximize profit taking. With this money management, you can have a 1:3 return ratio comfortably.

In the attached screenshot, you can see how the filters where able to avoid false trades at the right hand side of the screenshot. While this strategy is not the holy grail but it seems to work for me as I also manually adjust the Take Profit with the weekly pivot.

Please anyone with good programming knowledge should please help me and other traders that might find the strategy useful.

Thank you in advance.

I am not programmer but i will try to do manual testing. What are the rules of Re-Entry ?

Thanks aahmad29 for being the first to comment, you can re-enter a trade soon as the entry conditions are met. Like in the screenshot, the red horizontal line is a re-entry point. To make manual trade more effective, please add a support & resistance indicator and a weekly pivot point indicator. The picture will become clearer to you especially in determining where the price will likely stop and reverse.

Please as many as try this strategy, please help post your findings and help make the strategy work better.

I have attached some indicators to help in manual trading including the Bollinger band_stop with alert.

Thanks.

What are your favored pairs with this method? Thanks

This is a wonderful setup. The Bollinger band_stop with alert alone is enough for the pip harvest.
Thank you for this.

the last 3 trades i can spot, the checkmarks are correct entry points right?. I didnt count the second trade as the sl would be to high..... i see this as common sense. system seems to do good on 4hr, not alot of entries but 2:1 rr is quite common, last 5 trades were all 2:1 at least and only 1 loser.