I will post a system here hoping that a talented programmer can make a EA for it.
The idea behind this system is not mine - you can find it in Forex Factory (name of the thread is Shadow System). However I change a few things.
Pair = GBPJPY
At 7H00 AM (EST) Short GBPJPY at the opening of the candle
SL = 40 Pips and TP = 40 Pips (including spread so the real profit will be 32 pips with an 8 pips spread)
If tp hits, we exit.
If sl hits, we enter long with a sl of 200 pips and no tp - this position will be close the next day at 7h00am.
If neither tp nor sls hits in both cases (short and long), exit at 7h00am
I would like also the possibility to change a few parameters (tp, sls, entry hour and very important, i would like to have the possibility to reverse the order = first we enter long and then short).
I hope some of you find this idea interesting enough to work on it.
What is the logic behind going long or short for the first trade? A coin flip?
And do you mean 07:00 AM Eastern Time?
Also, have you backtested or live traded this system? If so, can you provide results, etc?
The point is to play both way (reversal tradind and trading with the trend)
Yes, i mean 7H00 am eastern time.
Please find attached backtest and forward test.
High & Low 8 Hours (GBP/JPY)
I saw this thread over at FF. It is going pretty well, but for those of us that like to sleep or work could use an EA to manage the trades after they are placed manually. should be simple but I really know nothing about coding or even how to use an EA. I was wondering if someone might be interested in taking a quick look and seeing if they could put together an expert. I apprecaite your time!