First of all thanks.
Yes, I noticed that with a smaller TP, profit would have been reached. Are you using a fixed 10pips TP or are you using a trailing profit at 10 pips?
Right now, just a straight 10pip TP without trailing. Below are 2 images. one is the 5 min and one is the 1 hour. 3 blue arrows in the 5 min showing the reference bar breaking the MA, then the entry bar on the open and the exit bar at 10pips. Same with the yellow. The 1 hour chart shows where this took place. For my major trend indicator i am using a DDFX major trend which I found somewhere. I take no credit for it but I like the indicator. so you can see on the one hour, today was all long indicated by the green histogram under the chart. the second trend indicator under the histogram is a 1hr heikenashi which were also indicating long trend on the 1 hour chart. So with the 5 min chart, its all long, ignoring anything that could look like a short.
I also have added the same trend indicators on the 5 min chart to confirm the long direction. For me, I like my additions.
Also had 10 pips from eur/usd and gpb/usd
I think looking at H4 is more accurate. I visually back-tested GBP/USD using H4 chart, signal mostly appeared during 16:00 GMT+3 , always enter after the 1st candle closed above or below EMA , and MACD must be obviously crossed with TSI above or below 0.
Using 10 TP , 15 SL or 20 TP , 25 SL .
Hey guys, thanks to you all for your positive input on the system. I did not know that i would disclose this this early, (i didnt want death threats 
) but i now cant help it. I noticed a10pip TP, 20pip SL, 1 trade a day increased the profit rate to 86% for the year 2013 so far. Yes my R:R is still unhealthy bt th probability of striking a 10pip win is so high to ignore. Yes i know i didnt intend this to be a scalping system but am (just lyk all of you) trying to contribute to the improvement of the system. Now i welcome all critisim, opinions, advices and death threats
Are you kidding?? Thats what we are here for. So far, the best strategy I have seen in some time. And in my opinion, 10 pips is not scalping. 2 or 3 maybe 10 is just fine for me. And it seems to work well on my 3 favorite pairs so that would be 30 pips per day on the 3. Lets keep this thread going.
Might have to move to europe so I dont have to get up in the middle of the night… oh how bad would that be!!
HEy riley, are you still using pc alpha for london breakout ea?
interesting nice strategy, great work. just to confirm are the rules on page 1 the best still?
thanks
yeah i consider the first rules the best, any changes we would consider will be looked into deeply after Robopip comes back with the results from his extensive backtesting
I think the only problem is you leave yourself very little room for variance, with a solid bankroll management setup where you’re only risking say 2% of your equity and compounding, a risk:reward ratio that high means you consistently need to meet that 86% win rate, and with only 1 trade a day and the uncertainty of back-testing (especially when using tools which can move/repaint slightly once confirmed), if your win rate slips you’re going to lose money quick and you might not realise for weeks due to assumed variance.
Are you really losing so much when back testing to not be able to settle for a 1:1 like 20 pips SL/TP? A 70% win rate at 1:1 is very very respectable.
I followed the 10 TP/20 SL today and got my +10 pips, but could have gone to +20 quite easily. I’m going to continue with 20 TP and 25 SL for now and until it proves to not be profitable or inefficient I’ll stick with it. I think one of the biggest flaws I see in trading is not the systems themselves but the way in which people apply them, letting emotion or impulse rule over consistency. I’m going to try my best not to be de-railed from this approach any more, and stick to the foundations of this system. Just the act of doing this system precisely every day will increase my knowledge of the markets and what I’m looking at tenfold, which can only be of benefit to our trading overall.
What about a trailing stop? (eg. 15 pips trailing). What do you think?
Hi Shane,
I have tabled that ea for now.
Hello good morning,
I’m new to this, but while learning on the awesome “school” section I noticed this script and wanted to try it.
I installed it as suggested and adjusted the timing according to my time zone too.
The BreakOut Box should be on the 1HR chart too right? Because the template I downloaded doesn’t have that.
I modified the period to begins and ends at the same time as the Time Zone Indicator right?
The London market is open for about an hour now.
The thing is the Coral line is totally out of the box … is this normal or I have some settings wrong?
Take a look…I couldn’t post a link since I’m new so just remove the space: charts.mql5 .com/1/350/eurusd-h1-fxpro-financial-services.png
This mean I shouldn’t trade at all?
Scary one this morning! Got my +20 pips locked in for the day though.
Took a big tumble after the signals aligned but only just managed to avoid my SL of 25 pips. Think it got to over 24, so very close! Then we got back on track 
You may notice my supertrend is now on my M5 chart, I just set the time period for it to H1 so I don’t need to keep swapping between charts when backtesting and checking entries.
That"s what am talking about!!! sometimes the s.l might look so big and give a bad R:R but the system was made to accommodate scenarios like these. Sawell have you made an ea on the system?
Very interesting system! I got stopped out this morning on EUR/USD, but of course it can’t always succeed (I was also a littlebit late). Im looking forward to an EA so that it can be done a proper backtest
Im quite new to the forex world so right now im trading on eToro with 3 pips spread on EUR/USD and 4 on GBP/USD. Should i then only have 17 pips (EUR/USD) and 16 pips (GBP/USD) as targets?
No, you have to set TP at 23 and 24 pips (EURUSD / GBPUSD) if you want to achieve 20 pips profit.
i would advice you to try mt4 platforms which off less spreads for those pairs, ranges from 1-3pips
Ok, thanks. I should probably set it to 20 pips (-spread=17/16) as this is the most secure setting to this system.
Yes i think I will switch broker soon.
BTW does anyone know how to program the EMA’s to alert me when the price closes below it/above it at the 5-min chart? That way i wouldn’t have to watch it that much.
Also, does the MACD have to be below 0 for it to be a valid sell signal, or does it just have to be that the red line is above the green line?
And opposite for a buy signal, of course
No, just red line above green or vice virsa it does not matter if above 0 or below