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About an EA, I find if you get consistent wins at 86%-100% the EA is good but may need better rules or additional filter. If not this then it is account MM and exposure leading to high DD and eventual account blowup. Please let me know more on this, if I could help I will.
Here is a screenshot of my chart setup slightly modified from your template.
I can't say whether or not it helps improve it or not. I added Stoch and DAMIANI to show when not to trade, oh and PSAR. If you decide to use any modifications in the EA I would recommend using these. I would not generally use DAMIANI myself though because it can keep you out of a lot of potential profit making trades but seems to be OK for this. I am not sure what times to trade this, Asian session only so early hours GMT, waiting for a breakout? If I made a simple system overcomplicated by doing this sorry!
Ignore the arrows on the chart they mean nothing much but I did put them there for a possible trade entry before the upmove.
If you designed the EA a certain way it could make up to 600 pips daily.
If you start at the beginning of the thread and read the first few posts it will make sense. We removed the "boxes" and used the "floating pivot" as a filter. The indicators automatically generate buy/sell signals now. (yes we changed the entry rules a bit to improve results based on forward & back testing). We even provided a free Trade Messenger to help you recieve the alerts in real-time...
About an EA, I find if you get consistent wins at 86%-100% the EA is good but may need better rules or additional filter. If not this then it is account MM and exposure leading to high DD and eventual account blowup. Please let me know more on this, if I could help I will.
Sorry, I just realized that I missed your question/comment. Yes, many tweaks have been made to improve risk/reward. I now call the system "X Trend". I still can't get an EA to work consistantly, but still working on it. I need a "common sense" filter, lol... This movie explains how the system works:
I just watched the movie and have a couple of questions/comments:
1) In the exercise example, where we have to figure out if it's a confirmed signal, the "confirmation candle" appears to have it's wick above the blue line. The wick before it is fully below the blue line, but it is not "full red"; it's a light red (maybe that counts??) However, this is called a confirmed signal. Can you clarify?
2) The RSI is not red within 1 bar from the confirmation candle, at least that's what I see. The RSI is red within 1 candle from the "not fully red" bar to the left however.
From what is described as a confirmed signal, it seems this would NOT be a confirmation per details above. Please clarify if possible the confusion I have based on the example in the movie. It seems there would be confirmation if you're using that "not fully red" candle, but I thought it had to be "fully red"?
Just trying to understand as best I can ...thank you.
I just watched the movie and have a couple of questions/comments:
1) In the exercise example, where we have to figure out if it's a confirmed signal, the "confirmation candle" appears to have it's wick above the blue line. The wick before it is fully below the blue line, but it is not "full red"; it's a light red (maybe that counts??) However, this is called a confirmed signal. Can you clarify?
2) The RSI is not red within 1 bar from the confirmation candle, at least that's what I see. The RSI is red within 1 candle from the "not fully red" bar to the left however.
From what is described as a confirmed signal, it seems this would NOT be a confirmation per details above. Please clarify if possible the confusion I have based on the example in the movie. It seems there would be confirmation if you're using that "not fully red" candle, but I thought it had to be "fully red"?
Just trying to understand as best I can ...thank you.
Yes, if I understand your question: after a trade alert (arrow with a price label), then you need 2 things to happen within 10 candles, (1) a red or green rsi (2) a full red or green candle to close. They do NOT have to happen at the exact same time. It's better if they do, but sometimes the full red or green candle will paint 1 or 2 candles after the rsi confirmation. If that doesn't make sense let me know and I will try to explain better...
Also, consider risk/reward: how close is your entry to the blue line? and how large is your "realistic" target? Meaning: how large is your stop in relation to your target. Try to maintain at least a 1:1.5ish ratio... Hope that helps...
Linear Mode
