Hey Windsor,
If you are still here I have a quick question about the whicked whicks method, If you’ve found yourself in a trade thats broken even (passed the 131.8% and gone back to the 110% after triggered) Would you place another buy/sell stop order as if it hadn’t already during that day?
I found a lot of trades have ranged between the 110% and131.8% fib level multiple times during a day and continued upwards/downwards
Just curious, I hope for a speed reply 
hmm i will check your strategy but seems great
I think 5kk not enough for day trading
How do you factor in currency correlation? Do you just ignore it?
If anyone is backtesting this consider that those trades that are 1-2 pips away from 110 line, will get hit with your buy/sell stop order because ask line triggers them not market line
Hi Kaboemm i was wondering could you share this EA please if it works?
Thanks
How is everyone getting on with this strategy?
Did anyone come up with a solution for those consolidation periods ?
Hi Kaboemm,
Sorry, I don’t mean to interrupt your discussion. Just as you said, the new daily candles on FXCM’s MT4 platform begin at 2am Amsterdam, however, to clarify for everyone else, our MT4 servers are set to GMT, not GMT+1, so you will see new dailiy bars start at midnight 00:00 GMT. That means if you are running an EA that asks you for the GMT offset, you should set it to zero, not one.
Jason
There has to be a more efficient way of moving SL with this method. Trying to keep up on it can be quite hard during the course of a day. I also missed out on aud/usd. I got stopped out at BE and it went all the way to TP 
Hi Windsorftw you mention before about using the fib line of 50 for entry but you mention using 100 above my apologies if I have misread you but which do you recommend?
Thanks can’t wait for midnight now lol
The 50 fib line was for system that used zz swing indicator (SYSTEM 1), For Whicked Wicks (SYSTEM 2) use 100 or 110 fib lines, with sell/buy stop
might want to read more, starting from about page 9. its changed. entry is at 110 fib. thats just one of the changes
This looks like a great trading system. I will try it and see how it goes.
Im looking forward to trying out this system. I appreciate you sharing your trading knowledge! Thanks so much!!
Hi windsorftw,
Read all from the beginning. I made a couple EA’s to trade by the rules you’ve set. I’m a bit lazy when it comes to manual trading. The final system for Whicked Wicks I made, and still cannot get it to backtest with much profit. Lots of stoplosses.
I’m very interested in getting this EA to work since your profits are very nice. Maybe it’s the subjective evaluation on trade entry that’s the difference, but the EA uses your specified rules.
One main question is do you enter on any candle the fulfills the entry criteria, or do you still filter using zigzag, or High/Low candles only. I made the EA to take all trades that fit the entry criteris, which had the best result, but still not enough to “write home about”. So I modified it to only take tades at High/Low points, and also only if they are within 5 candles of a ZigZag point, but it didn’t help. The “squished fibo” trades I eliminated by setting minimum size to the fibo points, and restricted the trade only if the previous candle is at least as big as average true range. Still net profit very little.
Thought I’d throw it your way, see if I’ve really missed some important aspect. Hmmm… won’t accept my mq4 file. Says invalid file, even though I just finished using it, no problem.
Well, not sure how to get the file to you. I am “j dot bentz at jbentz dot net” .
Thanks in advance.
Jim
Guys i have a query about this strategy when it comes to closing a trade do you simply let it run until it hits one of the stopless levels or do you close it at the end of the daily candle and then open a new trade at that new daily candle?
Thanks
From reading this thread these all the rules we need (if im wrong let me know and i’ll edit this):
At start of daily candle open:
Look at the previous day’s candle. If it was a Bull (BUY) then go to the TOP of the candle’s wick and draw fib lines down to the 2nd previous candle’s body, regardless of direction.
If the previous day’s candle was a Bear (SELL) then draw fib lines from the bottom of the previous day’s wick to the bottom of the 2nd previous candle’s body.
Draw Fib Retractment and set the following:
110 Fib = Trade Entry
23.6 Fib = Inital Stop Loss
400 Fib = TP
Move stoploss if the below levels are hit:
131.8 Fib = Move SL to 110 Fib
161.8 Fib = Move SL to 131.8 Fib
200 Fib = Move SL to 161.8 Fib
300 Fib = Move SL
Stoploss is hit or daily candle has ended, so close the trade.
I think this is all we need, looks good when im looking at past candles, giving it a try on my demo account at the moment.
Hi SandyBeach,
Thanks for the reply. Right, these are the rules I built into the EA. On backtest, the results are dissapointing, which is why I was hoping windsorfw could have a look at it to see what wasn’t right. However, I couldn’t attach the file for some reason, it said invalid file. Maybe you can explain how to attach an .mp4 file.
Good luck with your trading.
Also the reason the EA fails on backtest could be just because of the strategy tester nothing to do with your coding or the strategy, it would be interesting to see how your EA does on a 2 week forward test.
No worries, i had a feeling that was what you were saying just thought i’d try and be helpful. If you add the file as a zip file and then try to upload it, it should work, i normally upload files a zip files.
Otherwise you may need to post a few more posts before your allowed to upload. I know private messages has a post limit of 5 before your allowed to PM.
SandyBeach, thanks for the additional info. You could be right, but it seems to me that if the system is robust, it should work on backtest. In any case, you’re welcome to try it out, hopefully, windsorfw will have a look at it. It may be that there are too many judgement calls that come into play when choosing the candle formation(s) to use for entry, above and beyond the specifics of the fib ratio specifications.
I’m self-taught coder from borrowing from TSD-Forex and ForexFactory forums, so its not all to perfect form, but it works.
Seems as if the zip file was the key.
Disclaimer: use at your own risk. Recommend demo only until you’re sure of its behavior.
Wicks_ea_v1.zip (3.46 KB)