Chart showing Shi channel.

Attached Images

pivot3.gif (20.0 KB, 1044 views)

I use Heiken Ashi candle for exit in the same day. If I open a trade today and later (today) the HA candle changes colour, i will exit. That's why I think the H4 timeframe is better than H1. There are lots of days when the H1 changes colour signaling an exit, but the H4 doesn't. If you exit a trade to soon, you risk to stay out of the market for several days because the EMA will not cross the pivot. Please check the 22 Feb crossing. If you have closed you short that day, you had no other cross since then.

I also combine the HA colour changing exit with true range(ATR1). If HA changes colour and ATR1 rises => EXIT. If ATR1 drops =>Keep the position.

Please take a look and give me some feedback.

Hi

I have built up an EA for this strategy. It needs more work. I'm not very satisfied with the backtesting. I have switched to EMA3 Open (instead of EMA3 Close) to reduce the whipsaws. This way we will also increase the lag. Any suggestions?


My backtesting results for GBPJPY, with data older than 2006 aren't real! I have downloaded the data from Alpari Databank, I have converted the periods, etc... and I get several trades on days in which the EMA3 Open hasn't crossed the Pivot. There are obviously some errors because EMA3 Open is not mobile(as the EMA Close)!
Here are the results in the last month (23Jan-24Feb 2006).

Please note that the pip value for 1 lot is 6.02 USD, so the net profit is 7236.3/6.02 = 1202 pips.

If anybody is interested and gives me some suggestions/feedback, I will be posting the EA. So far, it seems that I'm talking to myself here.

Attached Files

PivotEMA3report - 24Jan-24Feb.htm (7.7 KB, 299 views)

Not at all, Cucurucu
I am looking for news on this thread all the time, pls attach EA.
I will help with testing.

hi

cucurucu

I have real data for 2005.

Pls attach EA here i will do bakc testing and will post results here

I suggest tesing it on H1 and H4.

I'll try it with TakeProfit=500, without StopLoss(SL=1000) and without TrailingStop(TS=1000).
ProfitModifySL=50 (when profit>50 pips, SL is raised to order open price)


Please note that you need those two indicators posted above in this thread.



Bye

Attached Files

PivotEMA3.mq4 (6.2 KB, 356 views)

Ok. I will test it, beginning tomorrow...thanks a lot...

Me too...Can we put it in multiple currencies on the same platform?

Thanks

Sada

Hello,

Big work cucurucu. I will try this ea with FT: H4 with GBPJPY, for few days

__________________
All long voyages always start from the first small steps ...

No, it only opens one single trade. Please note that it has a CloseAllOrders function, and it will close all orders no matter who opened them.

It still needs work. I need to "fix" the 0:00 bar problem. Perhaps tomorrow I'll do some modifications. Any suggestions are more than welcome!


Bye.