Finally.. good scalping indicator
T
I dont see this as a scalping strategy, its better than that, what indicators are you using there?
-BB-
Take-profit indicator is custom. But the bands are a modified keltner channel. The band's are actually the SMA of keltner channel.
tested live today on eurusd with good results. =)
Going to spend this weekend trying to automate this bad-boy.
Success!
Flawlessly trades the EURUSD on M1!!
Still need to fix some bugs. Sometimes price action lags near the lower channel. I need to figure out how to set it such that if it crosses over the lower channel, the buy position is entered when the price retraces back and hits the lower band again (example: hits lower channel, keeps going lower, buy in when price comes back up to lower channel)
Max DD is 64%
this could be a big problem
You had a drawdown of about 64%.. with $990....................your gross profit stood at $996 meaning at a point in time your account could be wiped away....from what I see your method does not utilises equity mangt and Stop Loss.. Very Risky....................
And modelling quality is near 25%.....
Still curious on the custom indi?
Couldnt find it anywhere :(
-BB-
I am very curious like a scientist to find out if there's a chance (and an in-the-rules one) to automatize what we call scalping.
An allowed scalping EA, yet to see that!
But, as regards thewtwitz guy. The major ingenuity does not rely mostly upon dd, sl or data accuracy. The most relevant point is: "would you trust in a system wich never fails?". I personally not. Another very relevant is: "would you trust in a system which gives excellent results on 20 trades?". I personally not.
I think the big aim remains:
- When can we consider an EA forecastably stable? When can we be sure that the past results cover enough of all the possibilities so that future is nothing but a reproposition of the past?
- When can we consider a strategy like "time-resistant"?
And what if we switched the problem from the tester backtest to the forecast of a likely forward behaviour?
I mean, an algorithm is the EA, another is the controller of the EA (in a way to forecast EA most likely succes rates), another is the controller's controller.... This seems to way out to some logical padoxes, like Turing's, Godel's...
That's all for now.
What it does remain is the convincement that our EA works well in a backtest due to the strenght of its underlying IDEA.
Simon
OK, ok, found it myself, its this
Use it to detect ranging (where line is flat for n periods), perhaps as a stoploss tracker
I wouldnt use it for trend detection, its a bit laggy for that
FWIW
-BB-
OK, ok, found it myself, its this
Use it to detect ranging (where line is flat for n periods), perhaps as a stoploss tracker
I wouldnt use it for trend detection, its a bit laggy for that
FWIW
-BB-
I let it hit the keltner channel first, and use the atr-stop as take profit
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Been working on a dependable scalping strategy. Will be testing live today..
Looks like it works fairly well..
(pictures attached)
I hate waiting for bars =\. I need to figure out how to automate this.. :@
The "Bands" above/below price are stress-price levels. good entry points.
The "L" shaped (blue and red) are take-profit points.
The take-profit point is only valid if the lower band has been reached.
EURUSD: (GOOD ENTRY EXAMPLE)
Touched the lower band and the LONG-TAKEPROFIT line is being printed.
EURCAD: (BAD ENTRY EXAMPLE)
Touched the lower band.. but short-profit line was still showing. So Bad entry..
Looking back at the EURCAD..