Nice Indicator
Here is a screenshot, EUR/USD H1
Red= Sell
Blue= Buy
Green= Sell and Buy within two candles (didnt have room to both put them)
Ok I need help now, if anyone thinks this is a good strategy and is willing to program it or something, I need to find out how much is the max drawdown. To know how many lots I can open up without having an account of 0 too easily. Im thinking of starting an account with a broker that has a 400:1 leverage.
How I would start would probably be with a $1,000 (just to start out safe) then use a 0.5 lot which should give me 5 dollars for every pip and a $50 margin. Looking at my strategy I can almopst double my account in 2 trades which are about 5-6 days long each, then I can increase my margin etc. I just dont want to compound too much making everything crash down to a 0 account balance. So maximum drawdown I can afford is 190 pips with 0.5 lots
Alright well first we'll need to program it but I doubt that should be any problem at all to make since its so simple. I really hope it works and that it works as an expert because right now its bugging me how much attention you need to put on. I went to go watch some TV and by the time I get back there was already a signal and already 19 pips profit wouldve been made from the alert. 
Anyways, if it works on the robot can I also have the individual expert to work with?
Also looking at it more and more I'm starting to think the drawdown could be huge, because even though this catches the big moves before they arrive, it also goes a bit crazy on the little moves, making about 4-5 pip losses over and over but then gaining 100's.
I also posted it on moneytec just in case you would like to check it out:
I can't program you individual expert, since I've never program it before. Good that you post the same at Moneytec, so that expert programmer can write your strategy in code if they think it's profitable.
For me, I'm always positive to everything. I believe that any strategy has its own strong and weak points. By puting some time and effort observing them, I will be able to come up with new, better combination of strategy. I remember that I spent months just to know "why are MAs late at giving signal?"
I will post it also in the yahoo group where they have lots of expert programmers, but here is another way to read the indicator.
Same buying and selling but the closing is different. Instead of closing when the line crosses the 0, close when the trend finishes. For example if the line crosses the 0 telling to buy, it will keep the position open until the line starts moving downwards then it sells. I have seen this misses some of the big gains but dramatically decreases the number of losses. I think this makes it a 10:1 ratio with 10 wins for every 1 loss, losses normally even out and wins are about a minimum of 15 pips. Also keep in mind there around about 4-5 trades per day which could rack in alot of pips.
Also Happy New Years to all!
Any further updates on this system?
I've read in other places that folks do well trading CCI on a 30-min to hourly basis.
Any further updates on this system? I've read in other places that folks do well trading CCI on a 30-min to hourly basis.
Any updates are found on the other thread I made, it's an expert now https://www.mql5.com/en/forum/194031
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So I've been tweaking around with indicators while on vacation in france. Since I had no internet I couldn't check if anyone ever used this indicator or not. What I am using right now is the CCI (Commodity Channel Index) indicator. It seems to be working like a charm, revealing most big moves about 3 days in advance. I know that some people will say that this indicator will not work because you can only see if it crosses a certain point or not with the next candle, but this is predicting three candles before. I did a little manual backtest without numbers and I am very impressed. I would say it works about 95% of the time, all the losses are covered by about one or two gains which is excellent. So I was wondering maybe we can put this in the robot, it does make alot of trades but almost every trade is worth it (I'm guessing 25 pips MINIMUM for winning trades, and losing trades are close to evening out).
So here is how I use it:
-Chart EUR/USD H1 (havent tried other currencies yet)
-CCI Period = 20
-When to buy and sell?
When the line crosses from top to bottom the 0 line then sell, when crosses from bottom to top then buy (very easy)
Its as easy as that, I hope we will get to program it one day and probably filter out all the little trades that are almost insignificant, Ill post back with some screen shots