Here is another twist to the method (posting on permission from dimdel).. I have back tested only on EU from 1 Jan 2015 and win rate is 83%. (Money Management, I risk 2% per trade is key and also dont use this without backtesting)
Rules-
Time FrameDaily
Entry rule: HA color change & Candle color change
Re-entry rule: HA color stays the same but candle color comes back
TP: 150 fib
SL: 50 fib
cut loss: both HA and candle closes in the opposite color
BE: EP+10 pips if price moved to 140 fib (subjective and based on PA--usually TP/SL is hit within 1 day)
Backtesting results:
Summary
Period1-Jan-2015 to 4 Jun 2015
No of signal: 36
Trade did not open: 12
TP: 16
BE: 4
SL: 4
win (incl BE) %83%
win (excl BE) %80%
Pips: 1,096
I have attached a screenshot and the backtesting excel
Rules-
Time FrameDaily
Entry rule: HA color change & Candle color change
Re-entry rule: HA color stays the same but candle color comes back
TP: 150 fib
SL: 50 fib
cut loss: both HA and candle closes in the opposite color
BE: EP+10 pips if price moved to 140 fib (subjective and based on PA--usually TP/SL is hit within 1 day)
Backtesting results:
Summary
Period1-Jan-2015 to 4 Jun 2015
No of signal: 36
Trade did not open: 12
TP: 16
BE: 4
SL: 4
win (incl BE) %83%
win (excl BE) %80%
Pips: 1,096
I have attached a screenshot and the backtesting excel
Attached File(s)
Backtest_HA method_EU.xlsx
12 KB
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