Range Trading (non-trend) system needed

New comment
 

Hi everyone!

I'm in desperate need of help.

I need a system that works well during non-trending (ranging) market.

Do you know any?

small PS:

If you know such a system but there isn't an EA for it, I'll be willing to write one.

 

Just for information:

- Forex Market Conditions https://www.mql5.com/en/forum/174309

- evaluation of the market condition using six SMA indicators: https://www.mql5.com/en/forum/175824

- how to estimate and predict the market conditions (choppy, trend etc): the post with many links.

- market condition evaluation (incl choppy zones) and prediction using MTF_AbsoluteStrength_v1 indicator: original thread with indicators, live trading results and images; how to use indicator (rules): read all the pages starting from this page till this one.

 

Thanks! I'll be looking further into it.

Still, if anyone has an EA that works fine during ranging and choppy market, that would be nice.

IMHO: it should have a small profit target, very small drawdown, big stoploss and no trailing stop. It should not be a scalper. Something like trading daily.

I'll prefer to stay out of the market during flat and I can make good money on trending market.

 

I think you may look at threads about Ichimoku indicator. This indicator is very good for H4 and D1.

 

Is this indicator or EA ?

 
vladv:
Is this indicator or EA ?

It is an indicator, a good indicator to measure market condition. Look at thread start by New Digital how ichimoku works, Or else you can visit ichiwiki by kumotrader.

 

Hi Shinigami,

I have just started a thread about range trading. Come and see ! If you can make an EA out of what we come up with there, that would be great !

Leo

 

The EC method

EC method stands for Eur/Chf...although the system can be used with the Eur/Gbp pair as well. I have not done any backtesting but its been doing well so far.

1st step...establish the pivot point for the period 00z - 17z.

Next...create a trading window that is 10 pips above the pivot point and 10 pips below the pivot point.

AT 19z...if price is in the trading window place an entry order to buy at the bottom of the window and also an entry order to sell at the top of the window.

If the 19z price is below the window, place an entry order to buy at 5 pips lower.

If the 19z price is above the window, place an entry order to sell at 5 pips higher.

take profit is 10 pips. SL is 24 pips.

close all entry and running orders at 05z.

Its a simple price action stratgey and it is working so far.

If you could write an ea...that would be too cool!

New comment