Can someone code an EA for me, please?
I've been visually backtesting a strategy that is based on NanningBob's 10.3 system http://www.stevehopwoodforex.com/phpBB3 ... f=38&t=919 and it seems promising, at least on EURUSD.
The rules
Buy:
When a new day starts, daily open has too be above daily pivot
Send a pending order at the previous day high.
For take profit and stoploss I use a percentage of previous day's range.
TP is 33% from previous day range above open, SL is 30%.
(So this is the same as a percentage of the ATR from last day)
Only maximum one trade per day!
Some additions:
- When the order doesn’t get filled cancel it the next day.
- When there is still an order open at the start of a new day, don’t open a new one.
A few requests.
- To be able to play with the EA to find optimised settings I would like to see the TP and SL percentage adjustable.
- x Days Range input: If people want to work with the average range (ATR) of more days back instead of just the previous one.
Backtest (visual)
I backtested it the past 54 days on EURUSD,
(using the fibo-tool for quick reference with open line at 1, TP line at 1,33 and SL line at 0,7)
It generated 37 trades; 26 winners and 11 losers.
It netted +472 pips ( +735pips - 263 pips) (only visial, without spread)
472pips / 54days = 8,7 pips a day (without spread)
So, as we know from trading the 10.3 system, using the Daily Open en Daily Pivot gives an edge. I just used that edge to make my own variation on that system. One that is structured, simple and I feel at ease with. And hopefully one that turns out to be profitable over a longer period.
Future Development
If someone can write an EA for this system..... I would be helped enormously.
I shall forward test it on a small live account and share my results here.
And others can use it or try to find better settings.
EDIT, click on the pictures for a better view
Light blue line is Daily Open, Dark blue one is Daily Pivot
10.3 Day Breaker
- JulesvH
- Trader
- Posts: 50
- Joined: Wed Nov 16, 2011 7:33 am
10.3 Day Breaker
You do not have the required permissions to view the files attached to this post.
Last edited by JulesvH on Sat Jan 05, 2013 5:14 pm, edited 6 times in total.
- JulesvH
- Trader
- Posts: 50
- Joined: Wed Nov 16, 2011 7:33 am
Re: 10.3 Day Breaker
Another picture:
You do not have the required permissions to view the files attached to this post.
- JulesvH
- Trader
- Posts: 50
- Joined: Wed Nov 16, 2011 7:33 am
Re: 10.3 Day Breaker
A picture of a pending trade that didn't get filled
You do not have the required permissions to view the files attached to this post.
- JulesvH
- Trader
- Posts: 50
- Joined: Wed Nov 16, 2011 7:33 am
Re: 10.3 Day Breaker
Picture of Stoploss hit
You do not have the required permissions to view the files attached to this post.
- nanningbob
- Trader
- Posts: 4560
- Joined: Sun Dec 04, 2011 1:23 pm
Re: 10.3 Day Breaker
great idea, good work. I will have to try this puppy.
I trade http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3964,
I talk about my philosophy of trading here.
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3627
"The key to converting something useful to others is simplicity. Complexity is the enemy to execution." Tony Robbins
I talk about my philosophy of trading here.
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3627
"The key to converting something useful to others is simplicity. Complexity is the enemy to execution." Tony Robbins
-
- Trader
- Posts: 71
- Joined: Mon Jan 30, 2012 11:30 pm
Re: 10.3 Day Breaker
Hi,
I didn't post lately cause I am involved in a some demanding project at a big corporation but I followed this board.
If I am understanding right, I am using some variation of this strategy from a long time.. It is called daylibreakout HiLo and it's return is positive however mediocre.
Using Bob's condition may add an edge so I am looking into this.
Also the pending order should be at previous Daily Hight + a few pips (eg 2). You know preview's daily act a a resistance so can be hit and then you get a retrace.
I didn't post lately cause I am involved in a some demanding project at a big corporation but I followed this board.
If I am understanding right, I am using some variation of this strategy from a long time.. It is called daylibreakout HiLo and it's return is positive however mediocre.
Using Bob's condition may add an edge so I am looking into this.
Also the pending order should be at previous Daily Hight + a few pips (eg 2). You know preview's daily act a a resistance so can be hit and then you get a retrace.