CCI Expert, not a holly grail, but quite rewarding - page 3
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Updated should make more sense.
That is what I ment.
Steven
I`m runnig the expert on 4 currencies, live demo. I hope it is ok. Sofar there where two ttrades today, first - 22 pips and the second one, which just closed is 93 pips. It went up to 130 pips, but then went down and hit the tstop.
Ravique,
What are your settings used on the currencies?
I am currently using:
Stop Loss: 30
Trailing Stop: 60
No take profit
CCI Period :50
I have changed only the CCI level to 50 , other settings remained as they were:
Stop loss: 60
T - Stop : 40
Take profit: 999 ( so basicly no take profit )
Are you sure that the best CCI_period is 50? Becouse for example on eur jpy was january 7. Or maybe the time period is too big?
I don't understand what you are trying to say. Are you using the H1?
I checked the EUR/JPY on January 7th, there was a good call there when it sold... Those 4 days were rewarded with 150 pips...
I might also have to add that the take profits and stop losses that are default don't really mean anything. I'm sure they can be optimized. I have found that S/L of 30 and T/S of 60 seem to work pretty good avoiding the useless bounce that seem to happen sometimes
Here's the January 7 trade on Hourly chart on EUR/JPY. I'm not sure what you were trying to say.
https://www.mql5.com/go?link=http://forex1000.com/cnet/jan7.jpg
No, there was nothing wrong with the trade, i was just thinking about the charts, i thought maybe it would be better if the timeframe was smaller, say 30 minutes or 15. But now i see that there are too many whipsaws in that case there, so everything is ok. =) Sorry for not being clear.
For the whipsaws your mentioned I am still trying to figure out which setting would be the best. This time it is not to changed the CCI Period but instead to put a different barrier to buy, sell and close a position. What I was thinking was instead of using the 0 as a point of intersection, maybe we should use something like 35 and -35. I need to contain as many little whipsaws as possible withing that barrier and execute the trade when the line leaves the barrier.
I will be working on this for the day and maybe for the week, working on different currencies to check.