CSP gbpusd Strategy

CSP Strategy.

This Candlestick Pattern base as the name indicates on  a certain type of pattern on candles (best performance on 1H timeframe).The backtest and optimization was perform on external historical data for this reason a backtest done on meta trader5 will not show the same good results, nevertheless besides the backtest, we have perform a real test for 1 weekfrom the 2023.03.27 to the 2023.0330 the results are exposed on the provided images.

Hints to improve this (and most) strategies.
As some of you may have experienced we have been through a period of high volatility.
1.It is not advised to trade under these circumstances unless, of course, your strategy is based solely on it, if that is not the case the unpredictability of the market makes it really hard for a strategy to work properly, the price movements are more significant and though it may turn out ok, it usually results in reaching the stoplosses with more ease.
2.In relation to this we must avoid trading during major news releases for the volatility will be really high(to be informed, search for a calendar of forex news).
3.Do not trade overnight, albeit the strategy is configured in a way that no trades are taken after 10pm it may be the case a trade does not reach TP or SL before changing between trading sesions in that case we advise to close the trade manually as in the first hours the spread raises significantly and that alone may cause the SL to be hit.Furthermore a swap will be charged.
4. Every strategy may be improved adding your own analysis and when your conclusions align with the trade taken, pursue that trade and if you arrive at contrarian conclusions close it at the beginning preventing any losses.Adding your own vision in this cases may be really benefitial, for you do not take the psychological burden of entering a trade which has proven to be one of the major struggles for a trader, here you are just critical with the decission making, taking away in the process some of the possible human factor.

RESULTS

Expert Advisor test results: CSP strategy with an initial deposit of $10.000 earned over $247,000,00 on GBPUSD H1 and $190,000,00 on EURUSD H1 in the period from January 01, 2018 to April 04, 2023 on Backtest. with an expected relative low drawdown.

The strategy's recommended timeframe  for EURUSD and  GBPUSD is  H1, although you can always test for yourself which one is more suited in your case.

Recommended inputs for EURUSD: TP:26 SL:175  GBPUSD: TP:40 SL:288


https://www.mql5.com/en/market/product/96810?source=Site+Market+MT5+Expert+New+Rating006


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Prop Firm Ready! Chiroptera is a non-martingale, non-grid, multi-currency Expert Advisor that operates in the quiet hours of the night. It uses single-placed trades (of all 28 pairs!) with tactically placed Take Profits and Stop Losses, that are continuously adjusted to maximize gains and minimize losses. It keeps track of past and upcoming news reports to ensure impacts are minimized and carefully measures real-time volatility to prevent impacts due to unpredictable geo-political disturbances c
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