- 17 Nov 2016, 05:23
#306
These are my rules for a strategy I'm calling HALO. I came up with the idea while studying HOLO/HiLo although my idea has more to do with following a trend, than with scalping.
You can watch the progress as I test it manually (badly ) here.
http://www.forexfactory.com/clemmo17#acct.35
As I write this I am on day 3 of testing. It's a little early to post such an untested strategy, but I want to get in the habit of sharing my research.
The problem I have is this is a system meant to trade hourly, over the whole day and I don't have the stamina or the free time to do this entirely manually. As a result I made several errors that have reduced the performance. You can spot them as deeper dips in the profit curve. I'm also not able to trade all 3 sessions, which would be my preference, as the win rate is 50/50 so the length that trends are allowed to run is proportional to profit.
Halo
Configurable extern option inputs in green
[01] – General Requirements
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Chart: Any
Timeframe: Any, but default to H1
Indicators: Bollinger bands (2 or 3 deviations) (optional)
[02] – Entry
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Here, my ideas are not original.
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I see this EA trading all week, with no interruptions, but closing all trades with a basket closure at the mid-point of each session, when balance is positive.
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Again, nothing new here.
[07] – Miscellaneous
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https://drive.google.com/file/d/0B7jwC7 ... sp=sharing (draw.io)
https://drive.google.com/open?id=0B7jwC ... i1jQnlyd2c (PDF)
[09] – Ideas for possible inclusion in future versions
=======================================
You can watch the progress as I test it manually (badly ) here.
http://www.forexfactory.com/clemmo17#acct.35
As I write this I am on day 3 of testing. It's a little early to post such an untested strategy, but I want to get in the habit of sharing my research.
The problem I have is this is a system meant to trade hourly, over the whole day and I don't have the stamina or the free time to do this entirely manually. As a result I made several errors that have reduced the performance. You can spot them as deeper dips in the profit curve. I'm also not able to trade all 3 sessions, which would be my preference, as the win rate is 50/50 so the length that trends are allowed to run is proportional to profit.
Halo
Configurable extern option inputs in green
[01] – General Requirements
=======================================
Chart: Any
Timeframe: Any, but default to H1
Indicators: Bollinger bands (2 or 3 deviations) (optional)
[02] – Entry
=======================================
- Start at the beginning of the trading day (first hour Asian session). Allow 3 candles to elapse.
- Wait for a candle to close higher (for a bull candle) or lower (for a bear candle) than the prior candle’s open +/- 10 pips*. Call this the ‘signal candle’. If that candle closes higher - enter long at market at the next candle open. If it closes lower, enter short. See Money Management section for position sizes.
- If the candle height is less than 20 points (basically a doji) then ignore this candle for the purpose of signaling. It doesn’t exist. Wait for the next candle. Such candles also do not contribute to exit signals.
- Stop loss (can be real or virtual to hide it from broker criminals) is placed at the signal candle’s high price for a short order, or its low price for a long order +/- 10 pips.
- Optional (true/false): Default true. Move to break-even after 20 pips and jump tighter by 12 pips every 10 pips of profit
- Optional (true/false): Default false. Use trailing stop of 10 pips. These cannot both be true.
- Optional multi trade (true/false): Once price is 20 pips away from the entry point, place a new order of ¼ lot size in the direction of the trend. Move the stop loss 2 pips above entry to protect the profit of the first order. Do this every 10 pips.
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- If price hits the virtual stop, then close the order. If there is time remaining in the candle immediately open a trade in the opposite direction and exit at the candle close.
- If the order is short AND a candle closes higher than the previous candle’s opening price, exit.
- If the order is long AND a candle closes lower than the previous candle’s opening price, exit. Note: see my future ideas section below where I suggest that you should give trades going with the dominant trend more leeway. I'm favoring this approach now.
- 10 minutes before close of that day.
- 180 minutes before close of the week.
- After 3 consecutive OR total loss trades, stop trading that symbol for the day. 0 disables this option.
[6]Optional: defaults false. Partial close ½ of position if price reaches the 2ndOR 3rd deviation band.
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- If there are no open trades, wait for a signal candle to close higher/lower than the previous candle’s open. (see Entry 2 note)
- If that happens AND there are more than 5 candles remaining in the trading day then enter long or short according to the signal.
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Here, my ideas are not original.
- Lot size - fixed
- Lot size - percent of balance
- RiskPercent
- LotsPerDollopofCash
- SizeofDollop
- UseBalance
- UseEquity
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I see this EA trading all week, with no interruptions, but closing all trades with a basket closure at the mid-point of each session, when balance is positive.
- Check broker time, compare to local GMT offset and ensure that the hour count begins on the first hour of the Sydney session.
- TradeMonday -defaults true
- TradeFriday -defaults true
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Again, nothing new here.
- Stop all trades and remove EA if balance closes below SafetyAmount -default -500 units of currency
- Stop all trades and remove EA if balance closes below SafetyPercent - default -5 percent of balance
- Close all trades when profit exceeds ProfitAmount - default 500 units of currency
- Close all trades when profit exceeds ProfitPercent -default 3 percent of balance
- MaxSpread
- MaxSlippage
- Send email on any event in this group. If I can use something besides MT4 default email function that would be great since it doesn’t work for anyone.
- Send push on any event.
- Send alert on any event.
- MinMargin - stop all trades and remove EA if margin falls below percent
[07] – Miscellaneous
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- Magic Number: 7462
- Trade Comment: HALO buy/sell/sl/tp
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https://drive.google.com/file/d/0B7jwC7 ... sp=sharing (draw.io)
https://drive.google.com/open?id=0B7jwC ... i1jQnlyd2c (PDF)
[09] – Ideas for possible inclusion in future versions
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- If a signal candle moves more than Z% by the ¼, ½, ¾ mark of the current candle, allow EA to enter in that direction before it closes.
- Dashboard, trading multiple currencies/commodities at the same time
- Currency pairs - comma delimited list
- Avoid metals? They don’t seem to be helping. OR
- Trade higher timeframe (H4) OR
- Trade only in the direction of the D1 trend. (commodities) OR
- When trading WITH the D1 trend, allow 3 contrary candles to close before exiting. AND when trading AGAINST D1 require 2 confirming candles to close before entering, UNLESS a trade was just exited due to a trend change, then you can enter without confirmation. <- chart test this.
- Wait x minutes for retracement, then enter.
- Trade-management/basket-closure
- Prevent making the same symbol trade in the same direction after a failure
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