Entry is made after price bounces from Bollinger's Moving Average, when the Moving Average is trending (pointing up or down).
After price has bounced from MA (Created a bullish candle for long trades or bearish for short), place stop order 1 pip above the candle (for long) or below the candle (for short). Watch examples for clarifications.
thank you, M256
in some cases in examples bar touches MA, in some not - may be "bounce from the BB MA" needs to be qualified in more details
Entry is made after price bounces from Bollinger's Moving Average, when the Moving Average is trending (pointing up or down).
After price has bounced from MA (Created a bullish candle for long trades or bearish for short), place stop order 1 pip above the candle (for long) or below the candle (for short). Watch examples for clarifications.
thank you, M256
in some cases in examples bar touches MA, in some not - may be "bounce from the BB MA" needs to be qualified in more detailsYou are right, this is one part which is a bit hard to program.
Any time when candle comes close to MA (it doesn't have to touch it), and than a candle in the opposite direction is created - I will take the trade. Bounce is declared after candle in the opposite direction is closed.
After a 'Bounce' I put orders above the high (or below the low for short).
More questions are welcome..
do you only use BB and candle pattern? any other confirmation signal?
do you only use BB and candle pattern? any other confirmation signal?
Only BB And candle pattern.
The confirmation signal is the candle in the opposite direction confirming the bounce. After that candle is closed I put the stop orders.
Good luck
looks intresting 923 pips in 2 weeks
in your charts you showed entry before the candlw in the direction of the trade closed. see the first chart, a bearish candle went near teh BB line, then the next candle was bullish, but u did not enter at close of that candle.
Hey, I am trading this system for 3 months, gained several hundred pips and about 50% on account.. and I would really like to turn it to an EA.
Its rules are very simple:
It is based mainly on price movement, and the fact that prices like to retrace to trending moving average and bounce from it, creating strong movements.
Last 2 Weeks Results
GBPUSD: +212 pips
EURUSD: +712 pips
Charts
This system works on any charts; I prefer using it on 4H and 1H charts.
Be sure to backtest it before you try it on any other time frame.
Indicators
Only Bollinger(20)
Entry Rules
Entry is made after price bounces from Bollinger's Moving Average, when the Moving Average is trending (pointing up or down).
After price has bounced from MA (Created a bullish candle for long trades or bearish for short), place stop order 1 pip above the candle (for long) or below the candle (for short). Watch examples for clarifications.
Stop Loss is 1 pip below low of the previous bar (for long trades), and 1 pip above high of previous bar + spread (for short trades).
Trailing Stop
This is what this system is all about.
Stop Loss is trailed to 1 pip below lowest low of last 4 bars (for long trades) and to 1 pip above highest high of last 4 bars (for short trades). Exits are done only by the trailing stop.
Money Management
I risk 2% of starting equity on each trade.
That's about it. More examples for trades can be found at my blog, I also post weekly results there.
Many pips to all of us =]
Help on creating EA will be much appreciated.Actually, no.
Look closely at chart #1 - At first I had the bullish candle that bounced off the Moving Average at about 1.2735. It was closed.
I entered when price broke the high of this candle - in this case it was a bearish star that did it. It doesn't matter - what's important is that there's a candle breaking the last candle's high.
Good trading
So, you mean if MA trends up and a SHORT candle's LOW is close or touches MA and then a LONG candle is formed, you place a BUY order at the last LONG candle's HIGH and a stop limit at the last 4 candle's LOW? Is that correct?
923 pips in 2 weeks ?!
can you show us the results each month
Indeed. You can post some pictures of your own trades if you want further confirmation..
923 pips in 2 weeks ?!
can you show us the results each month
It will take some time..
I'll dig into that sometime later this week.
GOOD TRADING!
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Hey, I am trading this system for 3 months, gained several hundred pips and about 50% on account.. and I would really like to turn it to an EA.
Its rules are very simple:
It is based mainly on price movement, and the fact that prices like to retrace to trending moving average and bounce from it, creating strong movements.
Last 2 Weeks Results
GBPUSD: +212 pips
EURUSD: +712 pips
Charts
This system works on any charts; I prefer using it on 4H and 1H charts.
Be sure to backtest it before you try it on any other time frame.
Indicators
Only Bollinger(20)
Entry Rules
Entry is made after price bounces from Bollinger's Moving Average, when the Moving Average is trending (pointing up or down).
After price has bounced from MA (Created a bullish candle for long trades or bearish for short), place stop order 1 pip above the candle (for long) or below the candle (for short). Watch examples for clarifications.
Stop Loss is 1 pip below low of the previous bar (for long trades), and 1 pip above high of previous bar + spread (for short trades).
Trailing Stop
This is what this system is all about.
Stop Loss is trailed to 1 pip below lowest low of last 4 bars (for long trades) and to 1 pip above highest high of last 4 bars (for short trades). Exits are done only by the trailing stop.
Money Management
I risk 2% of starting equity on each trade.
That's about it. More examples for trades can be found at my blog, I also post weekly results there.
Many pips to all of us =]
Help on creating EA will be much appreciated.