I’m in the process of writing an EA for this strategy in my spare time. Except, I’m using different PSAR settings to take it down to a lower TF. Hopefully I’ll be able to show some good results.
is it possible to trade with 1HR with this system? or I will get whipsaw?
IcyCloud, I just discovered this thread some days ago, and implemented it at my two demo-accounts. I like its simplicity and have the feeling that this System is helping me to stay above the “noise”.
I have discovered some differences between the two MT4’s of my demo-accounts. I don’t know why this happens.
On the left side of the Image you can see, that the pSAR has already two dots - on the right side there isn’t.
Cheers!
your demo accounts are with different times (on the servers), so on (for example) h4 tf, candle doesn’t start at same time. one demo is on new york time, other is london time
regards
bump for justice!
any update on this system?
Fantastic thread. Lots of awesome ideas on a great simple basis. Will begin testing back and forward today.
I think you have a great idea. I’ve already made some pips and have been overly conserative. I do use a filter of my own, a daily RSI thv but my biggest concern is your not using a stop loss. In Forex, that = a diaster wating to happen. I’m going to trade this heavy next week with a 50 pip stop. I’ll let you know how it works. By the way, thank You for sharing!!!:42:
I am currently testing this system with an EA I made.
I am using the standard settings, but implemented two other indicators;
RSI < 50 for short entries (confirming bearish territory) and RSI > 50 for long entries.
ADX > 20 for excluding fake-outs during market consolidation.
I will continue trying with and without my implemented indicators and with different parameters (mainly different stop losses).
So far, the testing doesn’t show too good results. Backtesting looks promissing a few years back, but has recently provided losses. The system does show good results on some pairs, but is very “unstable” and the balance is varying widely.
If someone would like to help me test with different parameters, on different pairs for different backtesting period, please send me a message.
I TingeFlaa you are doing a good job. I think the secret of this system is “no stop loss”.
Of course we have to be very careful with a perfect money management.
I implemented the charts with the [U]BB macd (v. 1.03)[/U] indicator. It works very good for entryes and exits.
If your EA could work like the above indicator would be great.
One more thing TingeFlaa. The above indicator is fantastic on daily charts.
The EA works exactly as described by IcyCloud in the first post, but I’ve implemented ADX and RSI (They are also possible to turn off in the EA). I’m currently forward testing the original system now on one of my computers, with the original pairs and 4H time frame. Will do so for a couple of months I guess 
Can you send me a link to that indicator you are mentioning, so I can download it?
I am sorry TingeFlaa but I am at the second post on babypips and cannot send links until te fifth. Anyway go to site “ultimaforex” an search for free indicators.
If you don’t find it type BB macd in search box and on search results click older entries.
Found it! Looks very nice. Will test it out trading manually. But if i implement it in the system, that will change the entire entry settings completely? How do u use it together with icycloud’s system?
I use it to confirm entry and exit setting with BB and PS (I am in demo). Basically it seems to anticipate trend changes. It is based on different indicators also: macd, volatility and trend direction.
Hey TingeFlaa,
I found that BBmacd could be very usefull for EA exit trade in IcyCloud system. Your RSI (<>50) filter is perfect for entries with new opposite PS dot.
The point is that during a good trend sometimes an important economic news moves the price very fast. If it is in opposition of our trade we have a relevant gained pips loss. If we are manually trading in front of the monitor we are able to stop the position, but unfortunately the EA waits for the opposite PS dot that generally comes in the next bar.
Watching charts history the BBmacd dot color change anticipates (in the actual fast moving bar) the new PS dot trend.
The EA exit trade instructions should be:
(long example)
a) The color of BBmacd dot change (green to magenta)
b) The price goes below the previus open level bar
If both conditions are true the EA close the position.
I am not a programmer and I hope it is possible.
I wonder if IcyCloud agrees with it.
Anyway I’ll be happy to test your EA.
email: <[email protected]>
One more implementation TingeFlaa.
The EA need to reopen a new position in the original trend if still present:
(long example)
a) The color of BBmacd turn back green
b) The price goes over last closing position
If both conditions are true the EA open a new position in the original IcyCloud parameters.