What happenin.
O.K. here is my idea.
Currency Pairs: GBP/JPY and EUR/JPY
Period: 4 hour time frame and and possibly use 1 hr. timeframe as entry.
Indicators: (SCREENSHOTS ATTACHED!!)
SuperTrend 3 (Overall Trend Direction) Its the thicker,
more ridge line on actual chart outside of the candlesticks,
*I believe there is room for improvement on this indicator because it draws late and awkward. It was altered by a mediocre programmer and may still have bugs*
LSMA w/ Colors (Changes from intial color to yellow THEN to opposite color) or MegaTrend (Changes straight from One color to the opposite color)
(Entry & Exit Logic and Re-Entry) its the line that follows the candlesticks thru the middle, BOTH ON FIRST SCREENSHOT!!
Double Woodies C.C.I. (Faster) second indicator window,
and Double C.C.I. (Slower) third indicator window (Confirmation)
Entry logic:
Using a 1 hr. chart for entry, once SuperTrend3, and LSMA w/ Colors or MegaTrend are both same colors (lime for buy, red for sell) AND both C.C.I.'s are on same side, ENTER TRADE. Notice on screenshots that once Slower C.C.I. crosses over, its a solid trend. It'll get you in a lot earlier that using the 4 hr. chart for entry. But using 4 hr. chart gives indicators a more reliable entry.
Once in, stay in trade as long as SuperTrend 3 remains same color and Double C.C.I. stays on same side on 4 HOUR. LSMA w/ Colors or MegaTrend and Double Woodies C.C.I. w/ be changing back and forth since they are leading indicators.
Exit logic:
Once SuperTrend3 changes to opposing color AND LSMA w/ Colors or Megatrend Change afterwards on 4 hr., exit and Re-enter trade going opposite way. (Sometimes the LSMA w/ Colors or MegaTrend will change before the SuperTrend3 does. This is very rare however there would need to be a line of code in the E.A. when this does happen.)
If you check the screenshots, there is plenty of pips to be harvested. I'm doing pretty good trading it as a manual strategy on a demo, however I'm getting in moves hundreds of pips late because I can't babysit the screen. Also being impulsive and getting greedy and trying to get back in once my take profit is hit. Since I can't babysit, I don't know when its going to turn-around on me nor cut the loss short. Also, can't let winners ride. Lot of potential as an E.A.
Up 10% since 8th of March on a 5k acct on demo manual trading.
T/P:
225 pips on GBP/JPY
150 pips on EUR/JPY
(Have been very conservative.)
S/L:
150 pips on GBP/JPY
100 pips on EUR/JPY
(May need to be wider if set-up as an E.A.)
Money Management:
1.5:1 W/L ratio is what I've been using in my manual trading.
2:1 W/L ratio is a VERY realistic possibility.
Also want to use compounding strategy I saw in an E-Book. Increase acct. by 25% per 125 pips made. I will post that later because its a .pdf file and I dont know how to get that one page out without owning expensive Adobe software. $1,000 to $22,000,000 in 45 weeks starting w/ mini-account if no loss were incurred. Of course this is the real world. But very interesting nonetheless.
Looking forward to hearing feedback. Thanks in advance to all replies.
gbp_jpy 4 hour screenshot2.gif
gbp_jpy 1 hour screenshot.gif
eur_jpy 4 hour screenshot.gif
eur_jpy 1 hour screenshot.gif