Eurjpy In and Out Scalping. - page 5
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We can also consider adding a rule; that if we've had a losing trade then the subsequent trade is set a TP at the same number of pips as the previous loss. This method can best be tested with an EA.
Put SL 4 pips above or below from the last top (resistance) or bottom (support), consider tops and bottoms form last AO cycle.
I'm not familiar with using the AO, what exactly do you mean by the top and bottom of a cycle? And I assume buy the SL you mean if you are enterying a buy to put the SL 4 pips below the bottom right? And for a sell, 4 pips above the top + the spread(3) = 7, right?
Willis,
Try this:
FXSniper = iCustom(NULL, 0, "FX Sniper\'s T3 CCI", FX_Sniper_CCI_Period, FX_Sniper_T3_Period, FX_Sniper_b, 0, 1);
WookeyThanks Wookie, I had already found that actually, and that's why I was saying that I felt stupid for the previous comment.
I have all of the indicators added now, I'm just setting up how to use them.
As we see now, the GU has made some nice moves today, which could have given as over 200 pips with this system. We must admit that even though this move was not the usual, but it is not something very unusual. What I mean by this is, that such moves happen all the time a least a few times a month. So we see very clear, that harvesting some of these mega trades a month, keeps you in the plus for a while, and is a good ground for helping the average trades throughout the month to accumulate to nice profits.
I'm not familiar with using the AO, what exactly do you mean by the top and bottom of a cycle?
In each round from positive to negative or reversed we look at the tops and bottoms it made at that cycle. So, now when a new cycle is forming we use the previous bottom or top as a SL + 4 pips, the way you described it yourself in the second part of your question.
And I assume buy the SL you mean if you are enterying a buy to put the SL 4 pips below the bottom right? And for a sell, 4 pips above the top + the spread(3) = 7, right?
correct
Hope all is clear, otherwise keep shooting.
Also remember to take note of the rule that If the last top or bottom is less the 6 pips not to enter the trade
By 6 pips, do you mean from the top to the bottom, or if the current price is within 6 pips of either the top or the bottom?
By 6 pips, do you mean from the top to the bottom, or if the current price is within 6 pips of either the top or the bottom?
As in your second suggestion, price is less then 6 pips from the bottom or top
Willis, have you looked at the ATR thing yet, I can see potential problems with the results of the ATR since it's a little lagging in realtime, maybe we should leave it as an option to switch on and off. This method could also be implemented with some of the other rules too, in order to help with testing.
Let's try to finish writting the original rules first. Taking out one of the indicators, such as the ATR, will be an easy modification once it is finished.