I have a very easy strategy that I would like to turn into a EA so I wouldn’t have to sit every minute to pick up each trade but have no idea how to code.
Ok there are 4 basic parts to my trading style or method…
All this takes place on the “one hr chart” I might add, the MA numbers are 33 Exponential Moving Average and 60 EMA…this is trend! Both of these EMA’s are to again be on the 1 hr chart for trend! �Side note� the stochastic on the daily chart 9-8-3 is about the same as this for determining trend, in fact some of my constituents feel this is a better tool �the jury is out on this one� I will keep you posted if this turns out to be better and more accurate tool J
[B]See item 1.jpeg to see above example[/B]
OR�… stochastic at the bottom of the print screen �…
[B]See item 2. jpeg to see above ex.[/B]
#2 its called my "set up signaler" the set up signaler is the stochastic indicators set up on "intellichart is were it looks best" and the numbers are...slow k "22" slow d �18� with a separation of 5 or it looks like this too..."22-18-5" RED AND BLUE at the bottom of the screen�
[B]see item 3.jpeg to see above ex[/B]
#3 "timing the entry only, not exit" now for this part we need to look at the "5 min chart" for entry, but the stochastic numbers are...slow K "9" "woof woof" get it:) ok sorry...slow k"9" slow "d" 5 with a separation of 3...so the stochastic numbers looks like this 9-5-3 on the 5 min chart. This is entry only but not exits! BLUE AND WHITE at the bottom of the screen stochastic
[B]see item 4.jpeg to see above ex[/B]
#4 "Exits" and "stops" this is the simplest part of the system, this is set to a default of 20 or 30 pips for exiting a trade �called a limit order� or �GTC� in stocks� the stops also set to a default on most currencies of 61 pips...and in theory this would work best if you had it much further like 160 pips but we won�t get into thatJ and that�s it! �For explaining its functional parts�. �All of these parameters could be adjustable on some parameter set up window�
Now let�s get to the explanation of how all this works...
We determine trend with the 33 and 60 EMA’s on the one hr chart�. “lets say for example sake its up” the trend� 8/20 at 21 hundred hrs eastern standard time�as soon as this happens, or we are alerted to this, we look for the “set up signaler” to signal us for the first “buying set up opportunity” in this case it was at the same time, with the stochastic indicator on the 1 hr being at the bottom� I don�t have a five min example, the data I was using didn�t go that far back on the five min�… but I do have a short example that you can see�"side note" the set up tool must have a signal of less than 30% on the bottom of the indicator graph, this will insure the “quality” of the setup for the 5 min. chart to be very good…
so for example sake lets say that it is, and its down on the bottom like at 20% "perfect" now that it is,� in the live scenario it wasn�t� it was more like 40% on the 1 hr chart you see above the preceding 5 min chart� but lets move onJ �we look for the 5 min chart to give us a "also 30% or less bottom stochastic signal" as well, �for a buy if it was a buy� and when it dose, we buy!
A shorting example happened at 8/22/08 at 22 hundred EST �look at above 1hr chart� so lets look at the 5 min to see what happened�the next �shorting signaler� in congruence with the short term trend was at �8/25/08 at 22 hundred EST lets take a look at now…
[B]see item 5.jpeg to see above ex[/B]
And the times were�.8/25/08 at 23:40 then 8/26/08 at 01:10 then 08/26/08 at 3:10 then 08/26/08 at 4:05 and 08/26/08 at 6:00 am�
If it were a trend up we buy all of the 30% signals on the bottom no matter what, all of them, and we keep doing that till we get the "set up signaler" to say stop buying! �Because it�s at the top of the graph indicator band� And when it dose stop going up, we stop buying...by this time all the 5 min buys have closed out, why? because they were all set for only 20 pips, and the average was 30 to 50 pips on most currencies, during the movement of the one hr stochastic timeframe, this method insure that 80+% of all the trades are automatically filled and closed out profitable,� as the shorts did� as soon as the �set up signaler is ready for the next series of buys� provided that the trending EMA�s are still up� or daily chart stochastic is still up� you continue to buy only, and repeat the process as long and as many times as the �set up signaler� gives you that opportunity to do so, I hope someone can help me automate this into something so I can get some sleep at night, thank you.
PS: remember if you want to trade just the one hr doing this, this will also work! Keep this in mind because it can and will simplify the work load on creating an EA let me know if I made sense and if I need to explain more I would be happy to, thanks again