Rsi 2, cci, stoch and macd pullback strategy

[nmichal]

Hi,

I have been trading ( or better trying to to trade) forex for the few years now. recently i have developed strategy that i think i quite good. But I have a problem to know when to exit the trade etc. So the strategy rules are very simple:
For going long:

1. CCI (4) below -100
2. RSI (2) below 30
3. Stoch (4,1,1) below 20
4. MACD above signal line

So basically we waiting for the pullback which means that we only entering the trade if the next candle after the all conditions are met is closed above the previous candle.

For shorting the positions and the conditions will be exactly opposite.

The strategy works good with 15M, 30M, 1H chart. Probably u can trade that with 5M charts as well but i personally prefer the longer timeframe than this.

Please take a look at my screenshots and tell me what do you think.

I am not a forex guru or anyone like that i just want some opinions, tell me what u think and how can i improve my system.

Thanks

[marcramon]

Thanks for the share will test it out…
Regards

[nmichal]

Hi marcramon,

How is your testing going ??
I know that the system is not perfect that’s why I am looking for some answers here.
I have been working on it recently and I have got some modifications to make. I have changed the Macd settings from the 12,26,9 to 6,12,9. So now the macd react faster and eliminates the false signals when the trend change. With this changes u don’t need to wait for the next candle to open the trade.

Please let me know what you are thinking.

Regards

Michal

[nmichal]

I will post some recent photos soon. I just would like o say that I have got good webpage where u can set your email or sms trading alerts which is timetotrade.eu so u can set your indicator alerts. Don’t need to stay in front of the screen all the time and also prevent me from opening the position even when condition are not fully met

[nmichal]