Hello guys!
I trade the EURGBP only and I love this pair, especialy on the asian session. In the asian session it's very very simple to scalp the eurgbp, getting 5 to 15 pips per trade.
I open this thread to discuss a profitable scalping method for EURGBP on asian session and I am 100% sure we can do it.
I am trying to develop an EA for this, and I attached a very simple and profitable code. I am 100% sure we can improve this code together.
Just take a look at eurgbp on asian session and see how easy to trade it is.
The EA attached show an amazing backtest from 1999 to 2006. I don't know why 2007 is not good. I traded that way since june 2007 with no problems.
Let's forward test, improve this simple strategy and make a very profitable EA. Or maybe develop a new strategy.
The time frame is M5.

Another very profitable strategy is trading the EURGBP on asian session on the highest or lowest price of the previous day. The asian market is very bored for this particular pair and its very rare to see a of a strong support or resistance broke.

Thanks

Attached Files

EURGBP_King.mq4 (2.8 KB, 1832 views)

Amazing backtests attached...

Attached Files

BACKTESTS.zip (715.7 KB, 1312 views)

Please your system for scalping EURGBP in the asian session?
What does the EA do?

And you applied what adjustments?

It's simple. Buy at RSI 30 and Sell at RSI 70. Time filter to trade on Asian Session only.

I am really impressed with the backtests. Note that it dont uses MM on backtests. That amazing results were traded with 1 fixed lot only.

I wish you guys can fw test and improve this EA.

It's important to coment that I dont trade every time the RSI is touched like on the EA. I usualy trade on the highest or lower price of the previous day (asian session is a new day) + when RSI touches 30 ou 70 on M5 timeframe. I dont use a fixe take profit. I close a trade depending on the volatility of eurgbp.

You guys can see attached an exemple of 2 trades on April 17.

I dont know how to code, so maybe you guys can help me to improve this EA. I even don't know if it's already ok to trade cuz I never fw test this EA hehe.

I hope you guys can help.

Attached Images

eurgbp1.gif (23.1 KB, 5522 views)

ive test on demo metatrader and the result is really bad
so what i do change in the script for buy or sell only 0.01 lot?

I know people are sick of me saying it, but Metaquotes data is completely worthless! I have at least 3-4 EA's that show similar or better backtest results - right up until Oct./Nov. 2006 that is. After this time period, it all downhill... FWIW, I'm convinced that the only 'real' data Meatquotes has provided is from Nov. '06, everything else is computer interpolated rubbish! In fact, just check out GBPCHF - huge portions of this has 50-100 pips difference between Close/Open of adjacent bars! Hugely profitable on backtests, but completely unrealistic...

Hi Madruga can you post the setting that you have used for the backtest. Thanks a lot, this EA is really very promising, very compliments!

Sincerely,

Giovanni.

Dear Mr. Madruga,
I trial for demo at Fxclearing, that ea is not work
I can't find that problem for it
Pls, advice me
(I use standard setting)

NRD

scalping will go very well because the backtester is confused with the M1 timeframe

put tick data in and watch that line head due south

__________________
Ideas are not trade advice.