This is a great strategy, aulthough I think you overlooked that you could create a better trading strategy by just using one of your indicators on many timeframes. Its funny you overlooked this.
Hi, I noticed that you posted a thread about the indicator called Gann Hi Lo which you said is the same indicator as SSL, could you tell me what does the blue and red color mean? What is the indicator based on? Thanks very much!
I am not sure if this is the right place to talk about another system, but I will anyway. The blue lines mean that gann Hi Low indicator is indicating a change in trend ( buy ) and red means Gann is indicating a sell.
Once Gann changes directions, it will most likely stick with that direction.
The key to taking a trade once gann changes direction before candle close, is higher timeframes, and with mtf confirmation. I have been trading with Gann Hi Lo for a while, so I am very comfortable with it and trading it before candle closes.
Sorry for not answering your other question on what the indicator is based on. The indicator is based on Gann Hi lo. SSL Channel and Gann hi lo are the same thing. I am not sure how Gann Hi Lo works, but it is a type of moving average that works in a different way.
thanks so much for the answer. People here are so nice!
So, you would recommend this system use three SSL as filter? Is this what you meant just now?
Yes shiningstar. A system that uses 3 multi timeframe ssl bars is a system in itself. Test around with different timeframes and periods and you will find something that suits the amount of time you have to trade, and the frequency of trades you feel comfortable with.
First see how Gann Hi lo reacts to price moves in a market simulation, then start making a strategy from there.
thanks so much! I will try!
and I want to thank darkonix for this great system and altoronto for the ea. I just tested the EA for last month, it made a profit of $1314 with a 10000 deposit. Very nice!
First of all thanks to Altoronto for this EA, it follows my strategy very well, although i have some ideas for improvement.
I am attaching my backtesting results from 1.11.2010 untill 10.12.2010.
Settings are slightly modified than the original settings on my 1st post but its still on 15min Eur/Usd and the indicators are the same
612$ (pips) profit
Profit factor 2.3
Relative drawdown 7.71%
I used very realistic money management with tight SL and TS as i would us it with live account
The modeling quality is n/a but i can assure you that i checked all days manually and as i was each and every day into trading in that period i am more than sure that the results that EA gave are valid, at least i feel convinced with this results.
As this is still the backtesting report i will not share my settings yet, because i don't want people jump into conclusions and use it with live accounts with my settings which are NOT tested on live account still. I will forward test it first and then share settings if i am satisfied with them.
I hope that you all will understand that forward testing on live accounts using any EA can disappoint but i am confident that my system and Altoronto EA based on it can give good results. .
Hopefully, i would be able to share settings soon, maybe as my New Year present to all of You
Happy trading to all and wish you prosperous 2011!
Hi James the Giant,
Thank you for your comment,
if you had in mind about using SSL in different time frames and build the strategy on it , i didn't overlooked it. In fact that was my first option which i explored. SSL on multiple timeframes (higher as filters and lower for signals) as i explained in one my earlier posts is lagging indi and that's i decided to use NonLagMA with SSL in combination. But as i said all variations/improvements are welcome