Developing S/R Expert : Highly Profitable : 99 % Accuracy

[konorti]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Here is a free SR inidcator, which dynamically counts SR levels from close values of the bars. I've also looked for this indicator for a long time, this seems good, but needs testing how accurate are these. I think it is a good idea to mix it with fibos.

http://codebase.mql4.com/6376

http://content.screencast.com/users/konorti/folders/mix/media/8fe0f3f5-6b6c-4af3-b211-e79d907743c0/00000014.png

[samk090905]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

thank you for the reply rio. incidentally, i was under the impression that it was doing fantastic. from your tone it seems that doesn't seem to be the case. i know harsh had quite a success with it: have you completely changed the system?

 

thank you,

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

OK, I think I've totally cracked Forex wide open. I'm not saying that lightly.

 

I've also figured out the other strategy, that allows you to keep adding positions knowing full well where the Take Profit is for max profits. I just scored 70 pips of a consolidation move on the EURUSD

 

I've told you guys everything you need to know, and with the indicator I posted, you should all be able to rip through the markets.

[harsh124]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Rio - Am waiting for that EA - So we can see.. how powerful your theory works!

 

Harsh124

[soundfx]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Hi Rio,

 

Good work - I've had a look at your S/R indicator.

 

I'm wondering if we can reduce those stops a lot.

 

We can still have the Fib stops there as a default safety measure but also implement dynamic stops based on the rule:

 

Long: If target not reached and new resistance level has started to be plotted, then close the trade.

Short: If target not reached and new support level has started to be plotted, then close the trade.

 

I've not looked at this idea in any depth, though a few scans of the charts suggest that it will certainly eliminate long drawdowns and shorten stops. Given that the accuracy of reaching the target is high, this should work well in theory.

[stovedude]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

First of all, thanks Harsh and Rio for this great thread. I hope you guys share with everybody. It will be a great contribution for us poor folks. I've also built an EA based on the original rules. It works fine, but I've still got to implement the neutral areas of the Kicker as a filter. I'll figure that out this weekend, because it will keep us out of a lot of bad trades. Another concern: if S/R levels are too far from the Kicker, such as after a news event, it seems like a risky trade. Just backtesting now and trying to catch as many pips as possible. News events will have to be implemented, as well as ADR as previously mentioned for TP. I think this indy works the best on range bar charts, which will catch even more pips. I'm making the Kicker parameters adjustable for optimization, and I'm also looking at bouncing from level to level, using Kicker for TP when the filters give warning. It's the little moves that kill. Probably need a different, faster SR calculation, but that adds more risk. I'll keep working on it this weekend and update you with new progress. So far, I've got both preset and dynamic TP and SL, which will modify with each new bar, as well as breakeven and trailstop options. I think we're close to finding a solution, not a holy grail of course, but something better than a kick in the #$#@!

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Personally, I'd like to experiment with not closing the trade... despite it breaking SR, missing the TP and flying miles backwards....and I have a reason for it.

 

REVENGE TRADING (that works) <):)

[forexample]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

In 2008 I experimented a lot with a system like this on several time frames using the 138.2 as TP and several variables as SL and in the end I found the most profit using a RR of 1:1 (61.8, not including spreads) on the H4 TF but the DD was long. This was based on a thread at forexfactory called "Skunny - Indicator Free Trading".

 

I was interested in running it on M15 but it was too time intensive and I am not an EA coder. I later forgot about this system but it was freaky how precise the TPs were.

 

I hope that those involved in the creation of this EA are as generous as the creator of this thread.

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

OK, here's a bit of an explanation of my own strategy as it stands right now.

This is the end of the week on the EURUSD M5 chart (maybe too small to trade on, but this is just to illustrate)

 

The red line shows the original trade aiming for the 138 extension take profit down there. Price breaks support by 3 pips and so we enter a short trade... now sometimes the price will just go straight through and hit the take profit, but in this case it didn't. It came out so far and then swung all the way back.

 

The thing is, the market has a "memory" of price areas, and it occasionally retests them. In this case, we have an incomplete cycle and this is HANGING. The market will eventually remember that this move was incomplete and will complete it when it gets around to it. It's as if the price got distracted and forgot to put its toys away. Eventually, however, it will come back to clean up after itself - so according to what I know, my prediction is that we will hit this price eventually.

 

Stop loss sits at the opposite 138. I have not seen price break this level once it has a trade open and hanging (YET)... but maybe it will. I'm not sure. So far it seems like a safe stop loss..... time will tell.

 

That leaves issues with massive amounts of drawdown.... but if we are DEAD SURE that price will come back to complete the cycle, we can effectively make new trades everytime a new resistance level (in this case) gets made... so our equity is balanced out a bit, and by the time TP gets hit, we've made some large trades! In addition, we have a SL which should not ever get hit.... but it is there for safety.

 

You will also note that these is a trade there where the TP level is too small. By the time you factor the spread and take profit into that trade, you'll see that it is pointless (and risky) to take it... so you would skip over it. Turns out it would have been a good trade anyway (especially if you look at previous SR levels and their TPs), but there's enough cash to be made we can mechanically skip over them. Typically another timeframe (higher or lower) would have caught that move!

 

anyway... I wouldn't trade live like this yet until I'm dead sure it all works out. In any case, I predict price will go down and hit that level on the EURUSD before going higher. If you look on a H1 chart you will see that the NFP swing broke a resistance level on the way up, and has created a hanging trade!

(and that brings us to another bonus.... assuming my logic is correct, we can trade safely during the news!)

 

Hope that explains things.

 

http://img515.imageshack.us/img515/6132/exampleu.gif

 

-- 06 Mar 2010, 11:03 --

 

OK, I've found a point where my Stop Loss theory doesn't hold.

 

Here's a few hanging trades near the last NFP news report. At one point the hanging trade broke through the 138 stop loss we would have set and ruined that trade (although, we would have profitted on the way down!)... although if we had set no stop loss we would have survived the swing down enough to profit..... although that seems hardly safe.

 

Note that the NFP swing has made hanging trades to the topside, so I assume that this is where price is set to go.

 

http://img269.imageshack.us/img269/7792/nfpfail.png

[forexample]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Sorry to butt in at this point but this system is so similar to the one I was working on back a couple of years that its got me re-hooked. I hope my comments are seen as constructive and help in the project overall. I always knew this system could deliver BUT it was too time-consuming manually having to be in front of charts and I put it in the archives for later and forgot about it. If this can be coded there is a lot of potential. Great work harsh and Rio!

 

All comments made below come from my time experimenting with Skunny's system (which I no longer use for manual trading and have not done for two years) but I believe what I was doing and what is being done here are so similar that my comments are warrantable and worth considering - I put a lot of time into manual testing.

 

On H4, with TP of 138.2ish and stop of 61.8ish, I saw incredible gains but always wanted to test this on multiple timeframes.

 

 

Regarding Entries

 

There were two schools - 1 entered on a PIERCE of the SR line (ie the candle did not need to close above/below SR, price just had to move out of the range.

 

The other only entered after a candle of whatever time-frame you are trading closed above/below SR and then price came back to your entry point BEFORE hitting TP.

 

No-one decided how many pips above/below if any were needed to qualify a signal. Personally I worked with percentages. I saw TPs of 600 pips hit almost to the pip with this system, in this case 3 pips hardly seems significant. This was on H4, but the more options the EA has the more we will be able to find good settings by running backtests not visually watching thousands of charts.

 

Recommendations

 

Could the options "enter on SR pierce" OR "enter on SR break" be included?

 

Setting the entry a set number of pips above or below limits the flexibility of the EA as 3 pips may be huge on one TF/range and miniscule on another. Why not make this adjustable AND a figure related to the fib percentages eg Entry = "2" would mean price had to move 2% above/below range for an entry to trigger.

 

 

Regarding TPs

 

Same point as above. I know you have mentioned 138.2 and 161.8 BUT these need to include spread and perhaps a bit for the "pip-gods" - setting the TP a set number of pips above or below 138.2/-138.2 limits the flexibility of the EA as this figure may be huge on one TF/range and miniscule on another.

 

Recommendations

 

Why not make this adjustable AND a figure related to the fib percentages eg TP = "138.2" would mean price hit to move to the 38.2% extension above/below range to hit TP.

 

Spread could be withdrawn from/added to this figure automatically OR we could fit it in there manually by changing TP to 136 for example - I like the first option with a "automatically allow for spread" option but it depends on the coder.

 

 

Regarding Stops

 

Lets say a long trade breaks support at 100 and our TP is 138.2. The way that Skunny taught was that the stop should be at the point where the original signal was no longer valid and you are prepared to enter a trade in the opposite direction. In this case that would be a few pips lower than 0 and that range would be considered "dead" OR a new trade would be opened in the opposite direction.

 

However I worked with multiple variations of stops and the opposite range was not what proved to be most profitable over the 1 1/2 years I tested. Who knows which strategy is best. Visually it seems that once a range doesn't work, it can piss around back and forth for a while. I manually backtested a whole lot of settings but manual optimisation is a real pain in the @$$.

 

Recommendation

 

EA should have a SL that can be set. Why not make this adjustable AND a figure related to the fib percentages eg SL = "-38.2" would mean price hit to move to the opposite 38.2% extension to hit SL.

 

 

Regarding Trade Management

 

As each range is different lot size needs to be calculated automatically by the EA depending on what the stop is set at and what risk the trader accepts - MM is an absolute necessity.

 

Rio your idea to open two trades, one aiming for 138.2 and one for 161.8 or smaller profit target is great. This could be an "advanced strategy TRUE/FALSE" option and preferably the options for this could be editable - TP, SL, and BE - eg "TP 160", "SL 61.8", "BE at 110 after price hits 135".

 

Personally I like Fractals, the Barry's colors I find off-putting, but this is only important for manual trading.

 

What to do when SL is hit? Ignore that range? Double-up? Keep reentering until TP is hit? Have mutiple management options that can be chosen eg "Trade Management = System 1"?

 

 

 

Please take all comments as constructive and I applaud the hard work being done here.

 

Regards,

 

FE :)>-

 

-- 06 Mar 2010, 12:28 --

 

Here is an example chart, EU as that's what has been posted here, M15, last 24 hoursish. I know its hard to see but if you understand what I mean and the system as harsh described you will get the idea. Some of these TPs hit within 1 pip as Rio was amazed at.

 

There was a time I thought about having this coded and trying to sell it for cash but as my time in the forex world lengthens I have come to understand the importance of generosity if we are to be both profitable AND ethical and hope that this contribution helps. Also, I want to be one of those who "does", not one who sells/teaches but "doesn't" if you get my drift.

 

Time-frame is difficult - M15 still has a lot of small ranges - so a "do not trade range smaller than X" function may be necessary. Manually the small ranges are stressful but hopefully the EA can deal with them.

 

None of the following trades went beyond the other SR line which is what I have used in this case for the results - not the best RR but the strike rate makes up for it.

 

1st setup - winner.

2nd setup - winner.

3rd setup - winner.

4th setup - winner.

5th setup - winner.

7th setup - winner.

8th setup - winner.

9th setup - winner.

10th setup - winner.

11th setup - open with TP of 1.3655.

12th setup - hasn't broken range.

13th setup - hasn't broken range.

14th setup - winner.

15th setup - winner.

16th setup - winner.

17th setup - hasn't broken range.

18th setup - hasn't broken range.

 

So at 2% per trade we would be up 4.584% (not including spread and assuming entry at 0 and TP at 138.2) with 4 orders and one open trade currently in small profit. Not a bad first day. I would like to see this though with tightening stops all the way up to the 61.8 as the decreasing RR and hence increasing profit per trade makes a big difference - it is working out what provides the most efficient edge over time that is important

 

Please forgive the mammoth post ^:)^

 

http://i47.tinypic.com/14alpx2.gif

[samk090905]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

hi forexample,

 

i just kudoe'd you for taking the initiative to post this...thank you. i read the thread regarding "skunny's" system: well three pages of it (it had 1600 pages of thread.) @-)

 

have you tried what rio has put together thus far?

 

i think we should get birt or scarface involved for the EA...these guys are pretty good at coding, at least in my opinion (which is really worthless), they would be able to figure this out.

 

perhaps you can give these indicators a whirl and see what YOU think about it.

 

thank you,

[forexample]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

hi samk,

 

I believe what I was doing and posted here and what Rio is doing are in essence one and the same. Rio uses Barry's Support and Resistance, I use fractals, they are the same just different look. From what I understood there were no indicators involved really although harsh included them originally. My system there are basically zero - the SR from the fractals (swing highs and lows) and fib percentages which are just extensions of price.

 

If the system that Rio is developing is different from what I offer and/or is not offered free to members lets go from there and I will start a new thread...there is a lot more to it than what I posted above.

 

If what I offered helps Rio with the EA he is creating and he offers it here for forward-testing there will be no need.

 

Patience is important in forex. The market doesn't go away. We'll get there...as will harsh and Rio with their generosity here.

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Thanks for your initiative forexample. I've followed the skunny thread myself and learnt a lot. I've even been privileged enough to see some of his training videos (but nothing there that wasn't obvious on the thread really).

 

SL will be an absolute necessity, even if all the trades will eventually swing around. In addition, we will want to trade off lower timeframes. Attached is a good example why trading the daily charts is risky.

http://img130.imageshack.us/img130/1323/gbpdayfail.gif

 

I mean to say, that MAYBE that hanging trade will get cleared in the future.... I'm just not sure how many years out it will take, and whether my account will have been completely margined out by then :hammer:

 

-- 06 Mar 2010, 15:48 --

 

Actually, here's how that losing PreNFP trade could have been traded properly.

In actual fact, there was a break down first that was hanging, so on that break up, we would not have bought but would have sold. FURTHERMORE, that upper fractal break at the new sell point wouldn't have appeared until a few candles later, so we would NEVER have taken that trade up to begin with!

 

Actually, the same thing is true for the above GBP daily chart I posted. There was a hanging trade down prior to that move up, so we would never have bought at that point (but rather sold). Even still, I would not be trading the daily charts because of the MASSIVE drawdown!

 

An eventual EA will have to know whether we have hanging breaks down, or hanging breaks up. If the EA had just cranked itself up and not seeing the break hanging down, there may have been a risk of a crash at the NFP.

 

http://img37.imageshack.us/img37/5025/prenfpfix.gif

[forexample]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Hey Rio,

 

Yes I agree stop is a necessity. I believe as you do it will get there eventually but sometimes it seems like the toy analogy is the opposite - the market plays with the toys making trades hit targets then one opens but the market loses focus and puts down the "hit TP" toy and the trade drifts off in the other direction...

 

Thats is why I believe an EA that allows for TP and SL to be set by the user will hopefully let us see what works better for different time-frames. M15 seems great though some targets are very small, but everything can be set using orders so it shouldn't be too much of an issue and it seems target hit faster than on M30.

 

I think the relevant stops that could be tested are (for a long trade based on a break of resistance at 100) -38.2, 0, 38.2, 50, 61.8.

TPs 138.2, 161.8.

 

If the stop was -38.2 then the EA could open a trade at the opposite end if price reverses, one of them will win eventually and will help the loss a little.

 

If the stops are anything else then what to do on a price reversal needs work.

 

I have not followed a thread of this sort for quite some time but will do so with this one and hope my ideas can help. Thank you for all the time you put in here and again to harsh for starting this.

 

With regards to your last observations, in a lot of cases a break may go the wrong way for the immediate future (ie the EU daily case you posted) so limiting the orders to a pre-defined direction may be a hindrance as inside as well as outside that range there could be a lot of shorts that would hit target - I hope this could be a user-defined option for back and forward testing to analyse.

 

 

 

Best Regards,

 

FE :)>-

 

-- 06 Mar 2010, 14:17 --

 

GU M15 last 26 hoursish. TP at 138.2, SL at -38.2, with a trade opened in the other direction with same TP and SL if price reverses.

 

This means the following two situations are possible (not including the room for error on SR and spread):

A. A direct hit has a risk of 138.2 and a reward of 38.2. 2% risk = 0.55% gain.

B. 1 stop, 1 win has one -2% loss with a 0.55% win = -1.45% loss.

 

1st setup: B

2nd setup: A (missed by 1 pip but we would allow for this)

3rd setup: B

4th setup: B

5th setup: A

6th setup: A

7th setup: A

8th setup: A

9th setup: A

10th setup: A

11th setup: trade opened currently 10 pips DD

12th setup: A

13th setup: A

14th setup: fractal forms after target hit - no trade in real time

15th setup: still within range - no trade opened yet.

 

9 A's = 4.95%, 3 B's = 4.35. Not a good RR means not a lot of profit.

 

http://i50.tinypic.com/1gk3zt.gif

[samk090905]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

rio and forex,

 

thank you guys...although i wish i understood half the things you guys are talking about :( keep the cerebral going.

[harsh124]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Rio, I got some further updates on this Kicker System.

 

Mate - I talked to that friend of mine. What he told me was we also have to see Candle Piercing Patterns And Chart patterns before going to a trade and to my consience it was true & It is powerful. Truly , But That cannot be explained just by pictures or comments , I'll need a workspace environment to show you what i need..

 

Harsh124

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Here's how I might have traded that section... assuming I cranked up my imaginary EA in time to catch this hanging trade...

with obligatory *massive* stoploss! In reality, I may not have added so many extra trades to the trade much (I should have a max trade input in an eventual EA) due to the potential for massive drawdown.

 

For anyone who doesn't understand why pin bars happen, here you can see why. Price simply HAD to clear out the hanging trade, so it clears it in a huge pin before heading off to new trading ranges.

 

If I had missed that one, there may not have been too many ways to trade for the rest of the day... with only minor swings here and there.... at least on this time frame. I'm relying on other smaller/larger timeframes to direct me to possible trades I can't see.

 

Now that I look at it, I may have to code a routine in an eventual EA that spots hanging trades from the past number of bars back before it decides on a direction to trade in... could be tricky.

 

http://img194.imageshack.us/img194/9446/slamdunkg.gif

[harsh124]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

There are a Few More Additions to the Kicker System People, Can Someone Recommend me a workspace environment so I can show you how the system works, Its not only based on the rules I supplied, there a little more rules but which makes the system powerful 100x Times!

 

Cheers!

 

Harsh124

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

What do you mean by workspace environment, harsh?

[harsh124]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Workspace Environment As In I could show you how to go about this system.

 

See, I am writing the NEW set of Rules Here, Please See Through It :-

 

First WE Use a 8 Period Momentum, Kicker Indicator And S/R Barry's .

 

We will also USE Kicker ( 81 ) as our Primary Trend Detector.

 

We Long When :-

 

=> Momentum Goes above 100.

=> For the Last Bar ( which has been closed ), the kicker ( 81 ) is blue ( It wont repaint ).

=> And If it also breaks the S/R - Then The Trade will go a long way.

 

Go Short When :-

 

=> Momentum Goes Below 100.

=> For the Last Bar ( Which has been closed ) , the kicker ( 81 ) is red ( It wont repaint ).

=> And If it also breaks the S/R - Then The trade will go a really nice long way.

 

Further :-

 

The best time to trade is after A Yellow Spot appears & then the trend color changes on the kicker indicator.

 

Trades Best on GBP/USD , EUR/USD ! I tried going m15 , got 3 Winning Trades in 20 Mins. Fetching me more than 30-35 Pips.

 

Also Use MTF_MACD_iNColor - Parameters :- 7,19,7.

 

Also Use Kicker (35 ) , to detect weak reversal points ( experimental ).

 

You should also see that the Candle has pierced the kicker upwards if you want to go long, or the candle has pierced it downwards if you want to go short. Piercing in the last 4 Bars is acceptable, else do NOT go in the trade. Piercing is really neccessary.

 

Support and resistance Indicator is ONLY to see how much Tp should be set in trade, if S/R are broken - Along with the given set of rules :- Its gonna be a much larger trade!

 

 

Any More Doubts or Queries - I am there! :D

Harsh124 :-bd

[vladv]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

From where can I download this great system,and the EA too?

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Interesting concept harsh. The momentum indicator should ensure (at least) that when the SR is broken, that we hit the target without much of a retrace.

 

I was thinking, however, that we could enter breaks of resistance with lot sizes tweaked to the risk and possible drawdown. Say if there's a tight trading range, we risk a bit more on the break, but if the range is large, then we only risk a little on the break and risk some more from the SR on the retrace. That way our equity doesn't get hammered and we profit more from big swings with less drawdown the closer we get to stoploss.

 

Here's a visual example. Typically retraces for good swings land within the 38-61 fib range.

In this case, maybe we enter the break with a 0.01 micro lot, and at the next retrace level, we add another sell at 0.02 micro lot, and so on.... until the trade swings into TP

 

http://img175.imageshack.us/img175/6227/retracepositions.gif

 

I noticed a few other things today as well.

Breaks of SR by 1 or 2 pips usually smash back through my opposite end 138 expansion stoploss, but break of 3 pips do not. There were a number of 2 pip breaks on the EURUSD 5 min chart today which ended up having their TPs cleared later on, but not before crashing back through SL first. I think a break of 3 pips is a strong signal, but 2 pips perhaps shouldn't be traded. Also, this was on the 5 minute charts. The M15 was more stable and less eventful.

 

Getting an EA this pip-exact is going to be HARD. No doubt about it.

 

Also, there was that Friday end of trading chart that I posted with the EURUSD 5 minute a few pages back. (It had the hanging sell trade). It never got cleared.... but (and I'm going to guess here), that it got cleared OVER THE WEEKEND.

If that's true then we really need to shut down all trades over the weekend,... especially on the lower timeframes which will be more susceptible to weekend movements.

 

-- 08 Mar 2010, 20:39 --

 

Now I'm feeling a bit conflicted..... who gets their orders filled first?

Logic would suggest the 1HR charts.... we have a shorter term uptrend at the moment.... but we'll see.

I honestly don't know.

 

Note that if the 1HR clears first (@ 1.3753), the 4HR red resistance will be broken (@ 1.3735) and we'll be looking at further upswing... but that hanging trade below will still be there.....!

Also note that in order to reach the 1HR TP, price will have to breach resistance again and make another buy trade entry up to a higher TP level!

 

Hmm..... confusing consfusing.

 

http://img46.imageshack.us/img46/5228/conflict.gif

[oktoeight]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Guys, here is the SR indicator in Multitimeframe version - maybe that brings a little extra twist to the system and helps to filter unimportant breakouts

 

http://www.multiupload.com/AQHCSMEDPM

 

 

FWIW :-?

[Rio]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

Thanks for that one. I'll seeabout adding TP levels onto it just like the barry indicator. Who knows, it may work better.

[harsh124]

Re: Developing S/R Expert : Highly Profitable : 99 % Accuracy

 

No Ideas about that Rio - Your concept is interesting too. But Mate, The System with improvements, which I posted buddy -> was complete and needed NO optimization. It is exact and will and surely deliver you 6-10 Pips; Without fail. Maybe before creating a complex version of our strategy, we could create an EA on the Basic & Piercing Rules defined by me. After that , there is a scope of further improvement.

 

We first need to complete our Basic EA Then we will do more improvements. Could we please make an EA on the Rules Defined by me ?

 

What Say !

 

Rock On! :-bd

 

Harsh124 :-bd

 

-- 08 Mar 2010, 19:31 --

 

See, I am writing the NEW set of Rules Here, Please See Through It :-

 

First WE Use a 8 Period Momentum, Kicker Indicator And S/R Barry's .

 

We will also USE Kicker ( 81 ) as our Primary Trend Detector.

 

We Long When :-

 

=> Momentum Goes above 100.

=> For the Last Bar ( which has been closed ), the kicker ( 81 ) is blue ( It wont repaint ).

=> And If it also breaks the S/R - Then The Trade will go a long way.

 

Go Short When :-

 

=> Momentum Goes Below 100.

=> For the Last Bar ( Which has been closed ) , the kicker ( 81 ) is red ( It wont repaint ).

=> And If it also breaks the S/R - Then The trade will go a really nice long way.

 

Further :-

 

The best time to trade is after A Yellow Spot appears & then the trend color changes on the kicker indicator.

 

Trades Best on GBP/USD , EUR/USD ! I tried going m15 , got 3 Winning Trades in 20 Mins. Fetching me more than 30-35 Pips.

 

Also Use MTF_MACD_iNColor - Parameters :- 7,19,7.

 

Also Use Kicker (35 ) , to detect weak reversal points ( experimental ).

 

You should also see that the Candle has pierced the kicker upwards if you want to go long, or the candle has pierced it downwards if you want to go short. Piercing in the last 4 Bars is acceptable, else do NOT go in the trade. Piercing is really neccessary.

 

Support and resistance Indicator is ONLY to see how much Tp should be set in trade, if S/R are broken - Along with the given set of rules :- Its gonna be a much larger trade!

 

At the moment, use these rules for implementation in the EA.

 

Any More Doubts or Queries - I am there!

Harsh124