Hello forex buddies,
I am trying this system but I might need some suggestions
The system is based on the following indicators:
- Bollinger Bands 100,2, this helps to exclude ranging periods
- SuperTrend 5,3.0 (but this might change depending on the currency and chart
- MACD 10,34,5
Buy signal
- Current MACD signal higher than previous
- Price over upper bollinger band
- Price above Supertrend line
- Time in the session for the pair
Sell signal
- Current MACD signal lower than previous
- Price lower than lower bollinger band
- Price lower than Supertrend line
- Time in the session for the pair
Stop Loss
- Previous value of the supertrend line (since the current one is still in formation)
- the Stop Loss follows the SuperTrend line
- Call x the pips between price and the SL
Take Profit
- 2*x
- Close half of the order when the gain is x, TP incresed to 4*x, leave the rest of the order till SL is hit
The system works ok during a trend but I find difficult to stop it when the price is ranging, any suggestion?
I already wrote an EA and can change parameters quickly, however the SuperTrend indicator is really slow to compute during the backtesting
Thanks guyz
