FXCodeBase.COM: Forex Chart Indicators and Development

Hi everyone,

As kind-of requested on: viewtopic.php?f=17&t=20388

Basically, the requested strategy was to use the hl1 indicator but that isn't really necessary. The point of the strategy is to create entry orders at the previous bar's highs and lows in expectation of a break, with the stop at the opposite extreme. So, that is what I have done - no indicators required.

I also enhanced it to support One-Cancels-Others orders so if one is executed, the other is automatically cancelled.

Orders are created at the start of each new bar, and previously pending orders are cancelled as well.



Cheers,
MooMooFX

The Strategy was revised and updated on January 19, 2019.

Hi moomoo,

There is no option for setting the amount of pips for a trailing stop. I think this is throwing the strategy off. When I backtest I have losses 10xs bigger than my limit.

The Stop is being set to the opposite high/low extreme for the previous period, as originally requested.

The trailing feature turns on dynamic trailing, i.e., 1 pip-trailing.

The fact that you have 10x losses > limit has nothing to do with trailing or not, it's just because your limit is 1/10th the size of what the stop might be set to. Keep in mind the stop would change from bar to bar.

Cheers,
MooMooFX

Thanks for the clarification. . . . that being said, Is it possible to add the option of a Stop in pips rather than the opposite Hi/lo?

Hi,

Yes that is possible. Your request has been added to the to do list.

Cheers,
MooMooFX

Great strategy to enter a trend with low risk in smaller timeframes. Thank you.
Is it possible to add a function to enter only long or only short if a signal is given?

Thank you.
kingolli

Hi,

Your request has been added to the list.

Cheers,
MooMooFX

The two requested enhancements have been added to the strategy.
- Ability to specify stop in pips instead of the strategy deciding
- Ability to filter the trade direction.

Source has been updated in the original post on this thread, please redownload from there.

Cheers,
MooMooFX

Hi,

is it possible to ad this function:

1. Excess (in Pips over high limit to open position).

2. Start and Stop Time for Trading.

Best Regards

kankatrader

Would it be possible, to combine this strategy with fractals: placing entry oders not according to high and low of the last candle but to local extremes determined by the fractals indicator?

Best Regards!