Multitimeframe SAR strategy
Posted: Thu Sep 13, 2012 4:41 amPlease, I would be interested in the following strategy based on your MTF parabolic SAR indicator (http://fxcodebase.com/code/viewtopic.php?f=17&t=15356&start=0&hilit=mtf+sar).
LONG: On new hourly Candle -> if on the previous candle (which means that the SAR indicator cannot repaint anymore) at least 4 out of 5 lines of the MTF SAR are green -> go LONG
SHORT: just the opposite, ie. On new hourly candle, if on the previous candle at least 4 out of 5 lines of the MTF SAR are red -> go SHORT
Stop loss: equivalent to hourly parabolic SAR distance OR when at least 3 out of 5 MTF SAR indicator lines change in color (ie, become RED if I am long; GREEN if I am short)
Target price: multiple of the SL (I would say three times the SL but I would like to be able to set it each time I apply the strategy)
It would be really nice to have the strategy
a) put the position at breakeven when half the way to the target price has been covered (TP/2)
b) NOT utilize predefined lots but a % of the account related to the distance of the actual stop loss (i.e. I would like to be able to put at risk no more than 1% of my account but that 1% should be calculated on the SL of the actual trade)
Many many Thanks
LONG: On new hourly Candle -> if on the previous candle (which means that the SAR indicator cannot repaint anymore) at least 4 out of 5 lines of the MTF SAR are green -> go LONG
SHORT: just the opposite, ie. On new hourly candle, if on the previous candle at least 4 out of 5 lines of the MTF SAR are red -> go SHORT
Stop loss: equivalent to hourly parabolic SAR distance OR when at least 3 out of 5 MTF SAR indicator lines change in color (ie, become RED if I am long; GREEN if I am short)
Target price: multiple of the SL (I would say three times the SL but I would like to be able to set it each time I apply the strategy)
It would be really nice to have the strategy
a) put the position at breakeven when half the way to the target price has been covered (TP/2)
b) NOT utilize predefined lots but a % of the account related to the distance of the actual stop loss (i.e. I would like to be able to put at risk no more than 1% of my account but that 1% should be calculated on the SL of the actual trade)
Many many Thanks
