Would love to get some insight from someone who is having success as to how the rules are being applied in the EA to get good results. I am not having good results. I am trying to get close to robopips backtest results but I am no where close!
He did a backtest on EURUSD 1hr from March - June (4 months). He was up 961 pips, 46 trades total. Not sure if he was opening multiple positions with this EA.
In mine, when I use 100 pips at tp and sl, and 20 pip ts, trading only one position at a time, I get 13 trades total, 6 winners, 7 looser for a net -56 pips…
I’m attaching screens of the first three trades here (all loosers). I believe there is potential in this system but as is shown, it’s not perfect and not as easy as it seems.
In looking at the second trade, we can see (in hindsight) that the RSI did not CLOSE below 50, but it must have crossed at some point during that candle for the trade to have been triggered. Possible solutions I can think of:
wait until the close of the current candle (so technically, the open of a new candle), and then look back at the previous 2 candles to see if the signal was generated. In my experience, on 1 hour charts, when there is a strong signal, you will have missed the boat by waiting for confirmation like this. On the other hand, by going in right away on the signal, we have many potential losers, like #2 below.
If you go in on a trade as it happens, on the next candle, confirm the rsi (or MA’s) did in fact cross and close like that, confirming the signal. If not, close the trade.
I feel like I might be making things unnecessarily complicated, but clearly, I am not having great success following the simple rules. Robopip, if you see this, help us!