Can somebody Program this workable system to ea
Hi,
I'll program it today and upload the EA later today if it works. I'm also interested in this system.
Good luck.
Derik
The way I programmed this system was to keep it as simple as possible so that anyone can edit the code as they like.
Long:
Entry rules for 4 hour is as follow (determine trend):
EMA5 > EMA10 (not cross as you asked for because the changes of a cross on 15 minute and 4 hour on same bar will almost never happen)
RSI(9) > 50
Stoch(10,3,3) main and signal moving upwards and smaller than 80 (overbought)
Entry rule on 15 minute chart:
EMA5 cross EMA10 up.
RSI(9)>50
Stoch(10,3,3) main and signal moving upwards and smaller than 80 (overbought)
MACD moving upwards.
The system doesn't look promising.
Good luck.
Derik
thanks derikb
just back tested the ea, discovered wasn't picking trade that much.... but i will still thank you for you effort, maybe, it will motivate the gurus in the house to take a look at.
thanks
link 2 Ian's thread
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I have been using this manual method on GBPUSD, I found it in babypips site, it works really but the problem i have is the time to sitting at the pc trying to pick a possible trade opportunity... therefore am sharing this so that it can be converted to an EA
About The System
The system is mostly based on the example given in the 11th grade of our School of Pipsology, but I've added a few tweaks that I think will help filter out those whipsaws and increase our win percentage. While the title of the system in the lesson is called the "So Easy It's Ridiculous" system, actually applying it is not. The point I try to stress is that a trading system can be simple and profitable at the same time. This blog will attempt to guide you on the application part of it
The Main Trend Is Your Friend
The main concept of the theory is to catch small trends during the day while avoiding fakeouts. Simple right? Wrong! It's easier said than done. I will be making my trades off of a 15 minute chart, but I will be using a 4hr. chart to give me my main trend. If my 4hr. chart is trending up, then I will only be looking to go long on the 15 minute chart. On the other hand, if my 4hr. chart is trending down, then I will only be looking to go short on the 15 minute chart. By looking at the main trend first, I will have a better chance for a winning trade by moving along with the current market direction.
4hr. Chart Settings:
5 EMA applied to the close
10 EMA applied to the close
Stochastics (10,3,3)
RSI (9)
The 15 Minute Chart
After establishing the main trend , it's time to look for trade entries on the 15 minute chart. The 15 minute chart looks similar to the 4hr. chart, except for the fact that I have added a MACD histogram. The trade entry rules are simple:
Long trades:
5 EMA must cross above the 10 EMA (Indicated on my chart by a black candle)
RSI must be greater than 50
Stochastics must be headed up and not in overbought territory
MACD histogram must go from negative to positive OR be negative and start to increase value. (We want to catch trends early so the MACD histogram must be negative)
Short trades:
5 EMA must cross below the 10 EMA (Indicated on my chart by a purple candle)
RSI must be less than 50
Stochastics must be headed down and not in oversold territory
MACD histogram must go from positive to negative OR be positive and start to decrease in value. (We want to catch trends early so the MACD histogram must be positive)
15 Minute Chart Setup:
5 EMA applied to the close
10 EMA applied to the close
RSI (9)
Stochastics (10,3,3)
MACD Histogram (12,26,9)
Stop Losses
There is not a hard number that I use for a stop loss. Instead I use either the most recent swing low (for long trades) or the most recent swing high (for short trades) as my stop loss. Using the examples above, this is where I would place my stops:
In these examples, the stop losses were not that wide. However, there will be times when the most recent swing high or low is several pips away from your entry. This is where you must be careful. If the stop is too wide for you to keep within your money management rules, simply stay out of the market! Trust me, there will always be another trade later. Even if that trade happens to win a gazillion pips, you should never compromise or doubt your decision to follow strict money management.
Exits
Here's where things get a little hairy. You'll have to use your brain for this one. What's that? A trading system that actually requires you to think?! But don't worry; it's really not that hard. Generally 50 and 00 levels will be your targets. What is a 50 or 00 level? It's simply any price that ends in 50 or 00. For example, 2550 and 2600 are examples of a 50 and 00 level respectively.
However, if you are too close to a 50 or 00 level you can also choose to set your target for the same amount of pips you are risking. For example, if your going long and your entry is at 2445 and your stop loss is at 2425 you would be risking 20 pips. You could then set your target for 20 pips away from your entry. So in this example your target would be 2445 + 20= 2465.