You’re welcome - I am actually going to get the indicator this weekend and was wondering have you used it on your phone (it’s MT4) - And by the way I am sure that on different platforms we will all get slightly different entries from time to time 
EURJPY Long from 12962 (11 Jul 8:00) closed at stop 12922 (11 Jul 12:00) for -40
Back in again on EURJPY
EURJPY Long from 12953 (11 Jul 16:00) stop 12919
Has anyone considered an EA for this? It seems fairly straightforward and would allow for some quick backtesting and optimization. I’ve gotten started on one for fun, but I’ve never coded in mql4, so it might take me a while. If anyone else has already started, maybe you would be willing to share so we can use it to optimize?
It will probably be a week or so before I have something ready to test. My initial tests indicate that I haven’t coded all the rules correctly after going back and finding trades that should not have been valid in my results.
I’m hoping to include optional fixed stop loss or optional calculated fixed stop loss based on 34 SMA with a max cap, optional trailing stop, optional fixed take profit, and optional risk input for calculated lot size.
Some of those features may be down the road a little ways…It will probably start with fixed SL and TP.
Can anyone please share Indicator for this system?
I’m planning on developing the EA this week end.
Hi guys
All of you are in profit with this strategy?
Good luck!!!
Luchian Valeriu/Romania
Hi guys
All of you are in profit with this strategy?
Good luck!!!
Luchian Valeriu/Romania
The indicator is available on the Forex Useful website.
EURJPY Long from 12953 (11 Jul 16:00) closed at stop 12919 (12 Jul 8:00) for -34
EURGBP Long from 8592 (10 Jul 4:00) closed at MA 8617 for +25
Back in on the Aussie
AUDUSD Short from 9135 (12 Jul 8:00) stop 9123
Back in on EURGBP
EURGBP Long from 8630 (12 Jul 8:00) stop 8604
Hi Irvinfitness, Thanks for your interest. I am just not so technical (I had to look up EA), and at the moment I’m just going to keep going manually.
No worries man. I was just curious if anyone was looking into it. I appreciate you bringing this strategy to the forums because I don’t think I would have seen it otherwise and I like the concept so far. I haven’t started live testing it yet, because I always like to backtest first and thats when I found it to take quite awhile to backtest this checking 3 timeframes (no indicator for me at this point). I decided an EA would be useful so I’ll continue working on it.
Looks like nicolas74 may have something working before I do though, as I’ve got plans for the weekend and won’t have time to work on it at all until next week.
Keep the trade reports coming though. Do you mind sharing your running total at this point? I’ve lost track and don’t want to go back and do the math myself… 
So if you’ve got the total somewhere already, that would be nice. haha
The yellow arrow you drawn is the trigger bar, and you bought on the open of next candle, am I right?
Can you show the graph for this one please ?
on my graph, the 4-8h closed at 0.90277 and you took your deal at 0.9135.
I would like to know if the difference is juts between the graph / the provider ? or if i haven’t fully understand your entry point ?
thanks, Nicolas
Well, I managed to get my EA functioning “properly”. I now have it entering all the trades correctly (from what I can tell) and I have implemented a Trailing Stop. It also auto calculates lot size based on risk percentage (make shift right now, still needs to be fully implemented, but remember this is my first time working with mql4, so I’m still learning) and I’m somewhat pleased with the results. I tested it for EURUSD and had too many mismatch chart errors for it to be useful, so I tried some other pairs, specifically my favorite pair of EURAUD with the following results for a date range of about 16 months:
Trailing Stop: 70, Risk: 2%
Date Range: 4 Hours (H4) 2012.03.30 04:00 - 2013.07.12 08:00
Initial deposit 4000.00
Total net profit 5205.24
Absolute drawdown 107.39
Maximal drawdown 1168.77 (11.63%)
Total trades 36
Average profit trade 414.80 loss trade -193.17
Looks like I’ll definitely be spending some more time on this with results like this off my initial code. With a few modifications, I think this has some great potential!
i have attached some images here to know that is this right set up to go for short in case of AUD/USD ?
12:00 bar on 4 hour [ Insta Broker Time ] chart closed at 0.9033…ATR is 79+33=112 and 112/4=28…and 34 SMA is at 0.9144 sl may be at 0.9172…
just have a look and please correct me if i am wrong…thanks…
Correct - I intend to buy the indicator this weekend so hopefully no more cr8p yellow candles from me
Hi mehulpopat/nicolas74,
Apologies but I got this wrong earlier:
[I]Back in on the Aussie
AUDUSD Short from 9135 (12 Jul 8:00) stop 9123[/I]
should have said:
AUDUSD Short from 9135 (12 Jul 8:00) stop 9170
The stop was calculated as (70 + 31)/4 = 25 so MA of 9145 + 25 = 9170
Nicolas, I use GXFX, and it was the 8:00 bar which closed at 9135, sorry but I’ve not got the hang of adding charts yet.
Mehulpopat, your calculations are correct but the close figures are different. I took the trade on the close of the 8:00-12:00 bar and at 12:00 on my chart the close was 9135. I’m working on European time.
Time is now 20:00 European time, and the 16:00 candles have just closed
In again on EURJPY
EURJPY Long from 12978 (12 Jul 16:00) stop 12911
Hi Irvinfitness,
Running total:
Pips +61, P&L +£132.15
Full results will follow, but without EURJPY the total pips would be 271!