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See the attached chart of EURUSD (TF 1H). You can see green and red dots representing buy and sell signals. The indicator that was used is here is the AltrTrend_Signal_v2_2. Don’t know where I found it, but after studying the results I think it’s brilliant! Suppose that there was an AE that follow these simple rules:
- at a buy signal close the previous (sell) trade of the same pair and open a long position
- at a sell signal close the previous trade (buy) and go short
No SL, no TP, just these signals! You can put it on any chart you want an any Timeframe. They all give the same results. Pips!
For the attached chart the results are as follows:
Are you sure the indicator would have made these results? I'm asking because sometimes an indicator gives the signal in the middle or near the end of a bar.
Are you sure the indicator would have made these results? I'm asking because sometimes an indicator gives the signal in the middle or near the end of a bar.
Do you know these were the exact enty levels?
Eric
Hi Eric,
Sorry but I can't tell you more about this indicator. But I think it is interesting enough to do some experiments yourself. Let me know what you discovered!
See the attached chart of EURUSD (TF 1H). You can see green and red dots representing buy and sell signals. The indicator that was used is here is the AltrTrend_Signal_v2_2. Don’t know where I found it, but after studying the results I think it’s brilliant! Suppose that there was an AE that follow these simple rules:
- at a buy signal close the previous (sell) trade of the same pair and open a long position
- at a sell signal close the previous trade (buy) and go short
No SL, no TP, just these signals! You can put it on any chart you want an any Timeframe. They all give the same results. Pips!
For the attached chart the results are as follows:
The only way that you can use signals like that is if they are given at the close of the bar. If the indicator gives a signal before close of bar, you can't trust it, 'cuz you don't know where price will be at the close of the bar.
Given that, if you take all of your signals at bar close, most of those are losing positions. That doesn't mean that you have a negative expectancy system, although most "systems" like this do, it just means that it probably isn't as good as you orgianally thought. See the pic I've attached. The red line indicates losing trades. The green line indicates winning trades.
One more thing to add... If those signals are based off of the close of the Previous bar, and you get the signals at the Open of the singal bar, then you may have something good. Again, though, most don't work that way.
The only way that you can use signals like that is if they are given at the close of the bar. If the indicator gives a signal before close of bar, you can't trust it, 'cuz you don't know where price will be at the close of the bar.
Given that, if you take all of your signals at bar close, most of those are losing positions. That doesn't mean that you have a negative expectancy system, although most "systems" like this do, it just means that it probably isn't as good as you orgianally thought. See the pic I've attached. The red line indicates losing trades. The green line indicates winning trades.
One more thing to add... If those signals are based off of the close of the Previous bar, and you get the signals at the Open of the singal bar, then you may have something good. Again, though, most don't work that way.
Keris
Hi Keris,
Thanks for your contribution! Still I believe it would be interesting if there was an EA to test this. Someone?
I see the same red and green dots. Is it the indicator I mentioned in my previous post? Can you tell me more about your chart?
Hello Hendrick,
the dots are the same. Additional you can see the Bollinger Bands Stop and Juice Level indicator.
You can trade for example during Euro Session and US Session if
BB Stops are green and dot is green.
Juice has to be 0.0004 or more.
One way could be to trade only one time per session Long or Short(without reentry).
The key is, I think so ,Juice Level together with a good stop-and moneymonegement.I can`t say what is better : trailingstop, stepstops, profitprotecting and trailingstop or time stop.
But I tink it`s worth to test it and to built an EA or in the first step an Alarm.
I hope I could explain a little bit with my 20 years old school English.
haubentaucher
Last edited by haubentaucher; 12-09-2006 at 08:22 PM.
Linear Mode
