I have traded this system manually but due to the stress one has to undergo like watching the pairs all day so as not to miss any ripe opportunity the automation idea came and the good news is its a better and efficient version of the manual system.Due to some reasons,i wont be dropping the source code file here but whosoever is interested in trading it manually,i will teach the system.
Below is the result of the trading system last month
Its a price action trading system.
Firstly:you have to plot a support and resistance line.This may be a problem but my Algo already have the features that automatically draws the line.
Secondly:You get your Volume moving average.Here are the VMA settings.
The VMA consist of two Histograms and a Moving average line. One of the histogram records Bull tick volume and the other records bears volume…I prefer to use Ema and the ema period i use is 20.
Thirdly : RSI. The value of an Overbought and Oversold zone in a RSI may vary depending on the current trend.In an uptrend,RSI may tend to be overbought for a very long time and in a downtrend,it may be oversold for a long time.The bot also have a system in place that detect the current trend and adjust the overbought and oversold values accordingly.So, I can’t write a specific value for RSI values.
Timeframe:5,15,30,60 and 4H
Condition for long
Wait for price to get to your support line.
1.when you see a bear candle and the bear Tick volume is greater than the Moving average.
2.A bull candle following the bear candle with the bull tick volume greater than the Moving average line.
3.If the rsi values is not overbought,you buy straight up.
Condition for short…
Opposite of long…
Stoploss…50 pips below the low of the entry candle
Take profit: depends on you but i use 100pips.
Risk:2% of the trading capital per trade.
If you noticed,the lotsize incresases as the profit increases.The bot automatically uses 2% of the trading capital.
The good news is it works on most currency pairs.But not all currencies are created the same,so,the Input parameters for each pair may varies.The input parameters for Audusd may be different from that of USDCHF .So,take note.polygee.pdf (310.1 KB)