Idea for EA
I have been using a trading system for a while that seems very solid, and the triggers are always in real time. I came up with this idea after watching an ea that was somewhat profitable, but based on it's mistakes, I came up with a better idea...
First, I wait for a significant retracement. The retrace must be at least 2-3 completed bars. Then I place a Stop Order 10-20 pips beyond the prvious high/low before the retrace. I put a SL of 200 (depending on currency) and a trailing stop of 100 - 300 depending on how much volatility there has been.
I have only used this on Euro/USD and GPB/USD.
The cool thing about this is, if the market turns around, the stop order doesn't go off, and you lose nothing. So, it nets a lot of pips (over 400 yesterday in two simultaneous trades). If I had been able to watch my screen all day, it would have made much more, as I've looked back and noticed where it would have triggered trades and made profit.
I would upload pictures... can someone explain how to upload? How do I capture the pic?
Anyway, an EA from this would be quite profitable, even with a set TP. I've been using the M5 chart for this as well, though it would give more signals on M1, and less on M15 and up.
Let me know if anyone finds a catch to this system, so far, it has worked.
To take a picture. The easiest way on 3 pictures:
Please give me MT$ code to plot dot on heikin ashi chart where
Here you have
Thanks a ton for your Dot Code.
I am indebted to you.
Another system on test phase.
Currency Trader dedicated three articles about this year, May, June and July.
Thanks to igorad for develop the indicator.
Where can the indicator be found?
First version is on this post: https://www.mql5.com/en/forum/general
What settings are u using for the first instance of the indicator?
Defaults. Same showed on the picture.
It was posted originally on FXCMTR web and then replicated on Investopedia.
Link full explanations and rules: Combined Forces Power Snap Strategy
It gives to stochastic a new function by using the Signal with a heavy smoothed period. This is a anticipatory system, it will tell us where the price could go 5/6 bars before the move as you can see on the picture.
I've traded this system purely and with some personal variations. As an Stochastic Fan I really like this setup.
Hello Linuxser, using these indicators in this combination could be very good I think. Could you tell me, when you display the stoch settings as 7,3,20 (and same by system originator in link you gave), is it correct that these settings would appear in MetaTrader as 7,20,3 ? This is the setting that seems to make sense of the idea.
Also on your next chart the 20 is changed to 25, and the system orginator mentions he has adjusted the standard settings, but he does not say change only once for the system setup, or change according to market conditions. Do you think it would be better to set this according to the general volatility of the pair, or better to dynamically adjust the setting according to current market mood?
I have been reading alot of your posts recently - you are a gift. Thank you! and my best regards to you.