Interesting idea. I have been thinking. Perhaps you could open 7 chart and use a S/R indicator to auto generate the S/R levels on a 5min or 10min chart. Instead of instant blast all. Do a one by one blast for each ones that breach a S/R level. I notice that the bar chart is updated every 10mins. Maybe reassess every 10mins and watch all 7 charts in real time for any reverse in price touching the S/R levels. The heat map is 10min lagging. Watch the price chart in real time. You may be on to a super scalping strategy. Remember position sizing should be small. When do you cut loss? Do you double up for the next trade?
Hi All,
Well, let’s say, this WE, I did not all I planned to do… Guess why!
Well, nonetheless, I manage to setup a foreward testing EA, based on the ‘heatmap’. The entry/exit rules are really basic:
Close open basket, then open a new basket on each hour. Rigth after recalculing % of variation (daily - since 0:00). This % setup witch pairs we are going to buy/sell…
I still need :
- allow backtesting (to be able to tune some setup). It is not so simple as MT4 do not allow basket/multi-currency backtesting. But not impossible
- Implement some more clever entry/exit rules. I am mainly thinking implementing a slope based on % of variation… Open to suggestions…
- Finish shift feature to calculate % variation (acandan21 suggestion)
And all kind of suggestions…
Regards,
och
PS1 : by the way result of half a day trading is not that good, but not that bad neither… And as we can definitly not rely on a one day testing, I let the VPS running… I will probably put a link someday…
I believe in trading a single pair or two. Most traders apply same strategy to all pairs. They do not try to understand or they dont know that every has some unique charecteristics. That’s why once you are expert is one pair, go for a second one, otherwise not.
If its working keep doing it. Sometimes trading too many pairs with the same currency can seem like conflict but really each chart should stand on its own.
Using a heatmap will indicate trending pairs, and likely the fact price will continue in trend direction is responsible for your profits. I would prefer to use market structure for targets. I assume you have a catastrophic stop in place?
This is not a good option to trade on a same pair because there is a largege possibility that you lose in this pair. You must have to trade on different pair so that if you get lose in one pair than there are other options must be available in which you can achieve your success.