automate
hello all,
I've been using this system (with a couple of extra rules) to trade quite successfully on a live basis.
My trades do not exactly match pipsurfer as I have 'tweaked' the entry and exits rules - but then again I am trading my own money so perhaps extra caution is not a bad thing..... With good money management I am making around 3% on my account per month.
I am not an mql4 programmer but it would be great if one of you boffins out there could turn this indicator into an expert advisor so that we could do some automated backtesting on other pairs (I am only confident trading my system on AUD/USD as it is a pair I know).
Here is the strategy.
1) Wait for cowabunga indicator to 'confirm' a trade set up (blue arrow = long, red arrow = short). This bar is now the 'setup' bar.
2) Enter trade if the very next bar breaks the high (or low for short trades) of the setup bar. If the high of the next bar trades only as high as that of the setup bar then it is not a valid entry. (opposite obviously for short trades).
3) Stop loss/take profit with very basic trailing stop indicator (attached).
4) Also - if there is a position open, ignore all subsequent setup bars until that trade is closed (even though they are sometimes a good point to 'add' to the position...)
I have shared this in the hope that someone could please turn this fabulous indicator into an expert advisor so that we can allow automatic trading and thus automated backtesting. That way we can all benefit and ride them waves together!
reply or PM me if any of this is unclear or you would like more info.
S.O.A.P.
1+1=2, 1+2=3, 2+3=5, .......... , 1.307E+308
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