Strategy is based on the "SIMPLE and PROFITABLE Forex Scalping Strategy" taken from YouTube channel ForexSignals TV.
See video for a detailed explaination of the whole strategy.
I'm not entirely happy with the performance of this strategy yet however I do believe it has potential as the concept makes a lot of sense.
I'm open to any ideas people have on how it could be improved.
Strategy incorporates the following features:
Risk management:
Trade entry:
Trade exit:
Backtesting:
Trade drawings:
Debugging:
Strategy conditions
Trade entry:
LONG
Trade entry:
Trade exit:
Credits
"SIMPLE and PROFITABLE Forex Scalping Strategy" taken from YouTube channel ForexSignals TV
See video for a detailed explaination of the whole strategy.
I'm not entirely happy with the performance of this strategy yet however I do believe it has potential as the concept makes a lot of sense.
I'm open to any ideas people have on how it could be improved.
Strategy incorporates the following features:
Risk management:
- Configurable X% loss per stop (default to 1%)
- Configurable R:R ratio
Trade entry:
- Based on stratgey conditions outlined below
Trade exit:
- Based on stratgey conditions outlined below
Backtesting:
- Configurable backtesting range by date
Trade drawings:
- Each entry condition indicator can be turned on and off
- TP/SL boxes drawn for all trades. Can be turned on and off
- Trade exit information labels. Can be turned on and off
- NOTE: Trade drawings will only be applicable when using overlay strategies
Debugging:
- Includes section with useful debugging techniques
Strategy conditions
Trade entry:
LONG
- C1: On higher timeframe trend EMAs, Fast EMA must be above Slow EMA
- C2: On higher timeframe trend EMAs, price must be above Fast EMA
- C3: On current timeframe entry EMAs, Fast EMA must be above Medium EMA and Medium EMA must be above Slow EMA
- C4: On current timeframe entry EMAs, all 3 EMA lines must have fanned out in upward direction for previous X candles (configurable)
- C5: On current timeframe entry EMAs, previous candle must have closed above and not touched any EMA lines
- C6: On current timeframe entry EMAs, current candle must have pulled back to touch the EMA line(s)
- C7: Price must break through the high of the last X candles (plus price buffer) to trigger entry (stop order entry)
- C1: On higher timeframe trend EMAs, Fast EMA must be below Slow EMA
- C2: On higher timeframe trend EMAs, price must be below Fast EMA
- C3: On current timeframe entry EMAs, Fast EMA must be below Medium EMA and Medium EMA must be below Slow EMA
- C4: On current timeframe entry EMAs, all 3 EMA lines must have fanned out in downward direction for previous X candles (configurable)
- C5: On current timeframe entry EMAs, previous candle must have closed above and not touched any EMA lines
- C6: On current timeframe entry EMAs, current candle must have pulled back to touch the EMA line(s)
- C7: Price must break through the low of the last X candles (plus price buffer) to trigger entry (stop order entry)
Trade entry:
- Calculated position size based on risk tolerance
- Entry price is a stop order set just above (buffer configurable) the recent swing high/low (long/short)
Trade exit:
- Stop Loss is set just below (buffer configurable) trigger candle's low/high (long/short)
- Take Profit calculated from Stop Loss using R:R ratio
Credits
"SIMPLE and PROFITABLE Forex Scalping Strategy" taken from YouTube channel ForexSignals TV
Notas de Lançamento:
Fix incorrect inline value in settings