25-min Statistical High/Low Scalping System...

forextrades · #1 (**permalink**) 08-02-2006, 02:27 AM

I have an idea for a trading system that uses an indicator in a different charting package. I have no idea how to code it or where to even begin, but I thought I'd share the idea and maybe someone can help with it.

The indicator at its default setting uses 20 days worth of data and the time frame is adjustable in 5 min incriments. At default, it's set at 60 min. I currently have it at 25 min with 20 days worth of data. I've been using it on the 1 min chart although it doesn't matter what time frame it's used on. It's just easier to see your entries on the 1 min.

I don't know how the indicator is calculated and I don't think the author will share it with me as I pay for his software, but here is a screenshot of it. It looks like it just takes the average high low of the last 20 days worth of data over a 25 min period and plots a line above and below the current price. The line is readjusted after every bar even on the 1 min, however.

How I'm using it is simple. When price hits the pink line, I sell. When it hits the blue line, I buy. I use a 3 pip t/p and a 10 pip stop. I also don't enter 2 trades in the same direction in the same 25 min period. I have not tested it to find the optimum settings for the t/p and stop, but it made 32 pips today on euro and 38 pips yesterday. I believe this strategy is capable of averaging 30 pips a day.

Any ideas on how to code this thing for MT4 would be much appreciated.

aelimian · #2 (**permalink**) 08-02-2006, 02:42 AM

This idea looks awesome. What software generates this?

forextrades · #3 (**permalink**) 08-02-2006, 02:45 AM

Quote:

Originally Posted by aelimian

This idea looks awesome. What software generates this?

TopGun Software

oktagon · #4 (**permalink**) 08-07-2006, 08:53 AM

This software is kracked or you pay for use !
Which kind of indicators is in use...
Thanks

006 · #5 (**permalink**) 08-08-2006, 03:48 AM

My only concern is .. how well does it work when the market suddenly moves on data?

I can see where this would be great in slow ranging conditions but if there was data that sent the price skyrocketing up past the pink level you'd be short.

Or does it respond in a way other than what I'm thinking?

Thank you.

dellan · #6 (**permalink**) 08-10-2006, 05:26 PM

Quote:

Originally Posted by forextrades

I have an idea for a trading system that uses an indicator in a different charting package. I have no idea how to code it or where to even begin, but I thought I'd share the idea and maybe someone can help with it.

The indicator at its default setting uses 20 days worth of data and the time frame is adjustable in 5 min incriments. At default, it's set at 60 min. I currently have it at 25 min with 20 days worth of data. I've been using it on the 1 min chart although it doesn't matter what time frame it's used on. It's just easier to see your entries on the 1 min.

I don't know how the indicator is calculated and I don't think the author will share it with me as I pay for his software, but here is a screenshot of it. It looks like it just takes the average high low of the last 20 days worth of data over a 25 min period and plots a line above and below the current price. The line is readjusted after every bar even on the 1 min, however.

How I'm using it is simple. When price hits the pink line, I sell. When it hits the blue line, I buy. I use a 3 pip t/p and a 10 pip stop. I also don't enter 2 trades in the same direction in the same 25 min period. I have not tested it to find the optimum settings for the t/p and stop, but it made 32 pips today on euro and 38 pips yesterday. I believe this strategy is capable of averaging 30 pips a day.

Any ideas on how to code this thing for MT4 would be much appreciated.

very interesting!

nix · #7 (**permalink**) 09-25-2007, 05:12 PM

Quote:

Originally Posted by forextrades

I have not tested it to find the optimum settings for the t/p and stop, but it made 32 pips today on euro and 38 pips yesterday. I believe this strategy is capable of averaging 30 pips a day.

Any ideas on how to code this thing for MT4 would be much appreciated.

I was just wondering if the system still works for you after a longer testing period.
Reminds me of bollinger bands...