I have written an EA that models this strategy accurately. The only iffy part is that the MACD cross and the new Parabolic SAR signals dont always line up perfectly, So I had to write some code to determine a timeframe to search for the two to line up, like occuring 30 minutes within each other, you can set this amount.
This EA is profitable For the past 3 years (Backtest 90% quality). However the years before that this system does not work (or atleast the EA). Only actual foward testing could determine the effectiveness.
Some of my own elements added into it, are a fixed TP at 45 pips, as the thread claims the average is 45 pips, secondly there is a SL programmed in. A SL of 75-100 seems profitable however has some drawdown from a few consecutive losses. Im sure the target Profit and SL could be optimized more, i just determined them from a few tests.
It can be set to Take Profit when the MACD recrosses, or hold onto it until either profit or stop is hit.
I have the EA restricted to trading only certain times of day, these can also be adjusted.
yeah I spose i will post my EA, I did some mods to it, so it trades a bit differnently, lemme re-code it back to match this system exactly, you guys can fudge Sl’s and what not if you want.
So has someone been kind enough to create an EA? I have to say so far this system has been great for me…It seems its good for atleast one trade during each session?
Anyone been so kind enough to set this EA up? Don’t think it is too easy. Isn’t there a website where you can submit these details to have an EA written for it?
Ok, so after getting a billion requests and PMs here is my EA for this system. NOTE, its not perfect, but all the logic from the system is there. It can definitely be improved upon, as in its current state it appears only somewhat profitable and that might just randomly be so.
There is some generally messy code and laziness involved because this wasnt my main project. There also plenty of optimizations that can be done and entry/exit Logic can be improved upon. Perhaps some more trade filtering, or timefram adaptation or for other currency pairs. I have not extensively tested this.
This should really be more of a start for some one who wants to make a very good EA from this system.
I will answer some questions and such if you have any. Like what the heck ValidTimeframes are for this program. obviously new cross of the MACD and fresh signals from SAR dont occur at precisely the same exact time. So there should be a window in whatever number of minutes that the new signals could occur for it to be a valid entry. Too small a timefram and very little trades will be placed, too huge timeframe and it will give false signals.
Word to the wise. Close Position. Watch. Open new Position.
After a steady decline on a short sell, I “made” a handsome profit last night. Only to have it all lost in mere minutes.
About 15 minutes ago, I got a buying indicator. I closed out my short position and subsequently opened a long position by purchasing 4 lots.
Within minutes of my move, the price shot down 25 pips. I had no stop loss in place. Watching the indicators it was seemingly going in and out of the buying signal.
I ended up closing out the position and taking a nasty loss. Oh looky, as I type this, it’s going in and out again.
Is it best to wait for the candle to close to prevent something like this in the future?
I just made 63 pips on my first try using this method in my demo account. I think I am going to stick with this system! Hopefully it will keep working.
Test it for a month then decide. don’t get excited at a big win - you will also get small wins, small losses, and big losses. To succeed in the business of trading you need to eliminate the emotion. Never get excited at a win or a loss, its all just part of the process. And money management is what will determine your success - the exits and entries are trivial by comparison.
You will get loser with every system, you will get draw downs and you will get sequences of losers. Prepare your mind for that, otherwise you will panic and lose the lot.
