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:

Sell 03.03.2006 00.00 1.2047
Buy 03.03.2006 04:00 1.2007
Sell 03.03.2006 08:00 1.2029
Buy 03.03.2006 11:00 1.2013
Sell 03.03.2006 15:00 1.2061
Buy 03.03.2006 19:00 1.2008
Sell 06.03.2006 03:00 1.2086
Buy 06.03.2006 14:00 1.2004
Sell 06.03.2006 15:00 1.2044

Total amount of pips +373

Could it be that simple?

I’m not a programmer, but I think this one is interesting enough to make an EA. Any comments?

Attached Images

eurusdhendrick.gif (26.0 KB, 377 views)

Attached Files

AltrTrend_Signal_v2_2.mq4 (2.8 KB, 142 views)

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!

Another possibility

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

Attached Images

eurusdhendrick.gif (28.0 KB, 238 views)

Hi Haubentaucher!

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?

Hi Keris,

Thanks for your contribution! Still I believe it would be interesting if there was an EA to test this. Someone?

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

Interesting:

Juice o.oo4 and Bunnygirl Level are nearly the same

Finally all together with EMA 50 and Nina ( 2000 bars)

P.S. SATL could be a good stopline(SATL and FATL) are to find in a new thread by Plz I need help