For fun or boredom i was wondering what percentage the price hits the other bollinger band(standard deviation).So i looked at the daily tf, the psar as to be outside the band . The candle with the first dot cannot have hit the band on the other side.I was wondering what the percentage was so i scrolled back a couple years on three currencys.(USD/CHF)(GBP/USD)(USD/JPY)
HITS REVERSES PCT
(USD/CHF) 13 5 72%
GBP/USD 16 6 72%
USD/JPY 16 9 64%
The price when the psar dot appears is usually over half to 3 quarters of the way to the band.I like the pct just a generic pattern the pct can be worked on and the exits with proper indicators can help.I am looking at longer time frames for some c&d trades with a separate account.
I would like to let you know I am working on an Icycloud EA which I have back tested through the last couple of nights.
First of all, I would like your personal opinions on closing your open positions so I can build it in to the EA. Whether it be the the first opposite PSAR, or if you take a profit where you see fit.
If all goes well, I will ask for some testers to see how this is going because the back testing seems to work well. I am using a small strategy on .1 lots, 20 T/P, and a trailing stop of 10 and it has been OK.
What are your suggestions? Maybe your idea and strategy could make this a very nice EA after all (for those people not calm enough to trade themselves and profit from many small winning trades!)
anyone still using this, as the original method on 4H rather than scalping 10 to 20 pips with the Gann HiLo on 30M, looking back through the charts looks like a decent system which still works using the DMI and ADX filter. Although need to work out good money management as no stops kinda scares me
I think this shouldnt be a scalp system. Try using the MACD. I tried it and it gave me confirmations. I also think stop loss should be 100-150 pips while take profit should be 300-500 pips with a trailing stop of 80 or 100 pips since its a long trade. The only problem is waiting for the trend to form.
I’m hopefully going to try and demo this shortly however its hard to monitor to pick up the signal on my platform so have missed a lot of trades. Using FXCM Marketscope 2.0
Hi Icycloud
just wanted to thank You.
I am very happy that I found your system. I modified it a bit and now for the first time in my very short forex expirience, I am getting some very good trades and working up my account from my former chaotic trades.
THX again.
I’ve replaced Parabolic SAR with Parabolic Trendchaser becouse it could give alerts and mails.
Added P4 Clock and P4 Candle Time to easy see when candle going to end and markets open.
Added Price Channel_Stop as another indication of trend changing. Somtimes its a bit faster then PSAR, but its only another confirmation. Maybe I will trash this one.
Adapted some indicators from Nanningbob 4H system: Nanningbob 4H trading system @ Forex Factory
Two stochastic indicators and modified MACD. When they are grouped tightly at the top or bottom - very likely strong trend change is comming.
When I see stochastics-MACD configuration and PSAR changing I am taking trade even if PSAR isn’t outside bollinger band. That and SL-TP and MM. Still refining this strategy.
Wow, Im glad I found this. Have been back testing this for a few hours, it looks like if you were more comfortable using a SL using the preceding hi/low would work nicely. Also it looks like you could maximize your profits in range bound markets by either aiming for the top of the range(if you feel its heading there), or watching it hit rather then waiting for the psar to cross. Im sure they guys who use this have already considered it, but maybe this will help a noob out. This just hit in an AUD/JYP trade Im already in, and it looks like its about to hit in the EUR/JYP. The Aussy has alot more room to the top of the trend though.
My current love affair with this continues into the morning. This happened at a critical level(imho) that I was already watching this morning in the Eur/Aud. The Eur/Jyp didnt hit it, but the Aud/jyp is running quite nicely.
Same here, but that trade was invalidated by this system. Im a fan of pretty graphs and nice trends. Too much consolidation going on with the USD for my tastes.
Hi everyone. Im wondering what exactly the modifications to this strategy were. I saw something about a adx at one point and a Grannhilo but im confused on where to add them as an indicator or how to use them.
Thanks for a great system ICYcloud and those who helped it grow
