Whats up traders,
I've came across a strategy which prove promising with manual back testing which I'm sure is a old strategy for the pro's.
Explanation of strategy:
Rules to buy:
Signal - MACD cross above 0.
Only take trade if Stochastic and RSI is above 50.
Rules to sell:
Signal - MACD cross below 0.
Only take trade if Stochastic and RSI is below 50.
TP 10pips to 20pips
Exit/close trade if MACD cross 0 irrespective of TP.
I found an ea of Firmin (https://www.mql5.com/en/users/firmin) which can be found here (https://www.mql5.com/en/code/9323) but it's not what I am looking for. (I did however get fairly good results with MACD (settings 6,13,4) and Stochastic (settings 15,6,6) but as you'll see drawdown is a huge problem and make the attempt useless.
Does someone perhaps have an EA for my strategy or have a link to a thread on the code base? I searched but came up empty handed.
The code for Firmin's ea is too big to add, so a copy of it can be found on the link.