J1mm's Intraday Trend follow Strategy

Hi everyone, I would like to introduce you to a trading strategy that I have been working on for several months and my main focus is to find someone to convert it to an EA + dashboard to eliminate manual intervention or reduce it to a minimum, mainly because of my daily screen time

The strategy is mainly based on trading retracements of trends, which means we will always trade in favor of the main momentum.

I try to remove any discretionary trading and reduce it to following certain rules and I really make sure if trader common sense is added...well that usually improves everything a lot...

To demonstrate this strategy I will try to describe the entry method and the bad entry method, all feedback as well as adding new indicators will be appreciated, but only if this new addition will filter bad entries to improve the reliability of this strategy... So if you want to change your strategy 360°, avoid posting in this thread and start your new strategy

Having said all that, let’s start with the real thing…

index:

- MBFX Timing <br> I really like this indicator, like Stochastic, very helpful to find divergences and OB/OS price in order to start observing this pair, in this strategy will be one of our "triggers"
- Semi-trend <br> I honestly don't know the actual formula or how it is calculated, but I have found that this indicator often truly reflects the short-term S/R area, and will be an important part of our strategy when price breaks above it.
- BK Woody <br> Another indicator I like is a combination of SMA and CCI for different periods, very useful for discovering whether the current momentum is waning.
- Sweet Spot Gold <br> Just to reflect the current rounds, natural S&R areas and even react to them in H4 TF price, this indicator works for me, you can skip it if you want...

So let’s start with the rules…

We need to determine the market conditions, are we in a trend? Within range? Imagine that we are in an uptrend and we see what I call a "healthy retracement", which means that the price will be below half the trend, BK Woodie will also be below 0, MBFX will of course then approach or enter the OB/OS zone... Our entry point will be when we determine based on the indicators that the current pullback is over and the trend momentum is returning.

Buying rules

First inspection <br> The market situation, we don't really want to go against the trend, or do we want to go against the trend?
Second inspection <br> Price breaks out and closes above the half-trend (for this to happen, price must first be below hehe)
third inspection
MBFX is sloping upwards, MBFX Yellow is riskier to enter, but you can also catch it earlier, the slope is steeper, the momentum is stronger, and the chances of entry are greater
fourth inspection
BK Woodie has a score below 0 and is now pointing up and crossing or "wanting" to cross it
fifth inspection
The BK Woodie Square is in green, indicating that price is above the 25 SMA
sixth inspection
BK Woodie CCI (both) will cross 0 and never go above or below 100/-100, I find the best entries are when the CCI is very close to crossing 0.

selling rules

First inspection <br> Market conditions! We want to make sure we're on a downward trend
Second inspection <br> Price breaks out and closes below the half trend (for this to happen, price must first be above hehe)
third inspection
MBFX is sloping downward, MBFX yellow entry is riskier, but you can also catch it earlier, the slope is steeper, the momentum is stronger, and the entry opportunity is greater
fourth inspection
BK Woodie over 0, now pointing down and crossing or "wanting" to cross it
fifth inspection
The BK Woodie Square is in red, indicating that the price is below the 25 SMA
sixth inspection
BK Woodie CCI (both) will cross 0 and never go above or below 100/-100, I find the best entries are when the CCI is very close to crossing 0.

Now you'll want to get started with examples, right?

Buy example:



Sell ​​Example


You'll see that in both entries, something happened around the round numbers, one was a false breakout and the other was an RN rejection, so I added that to my strategy as well, but that's not part of what I posted...

I think it's clear? Now let's test EURUSD with several months of entries...

March 2018, 3 entries, some running over several days, 360 points total


March 2018 entries avoid the 4th check and we have 1 new entry, an increase of +110 points compared to the previous 360 points


April 2018, 3 entries, 1 stop (-30P), so total +75 points April has been a bit crazy, with almost no pullback since the dip…


May 2018, a great month for this strategy... 2 entries were running almost the entire month... both running around 600 points...


June 2018, you can look at the chart yourself, we had a training opportunity on the first day, running +40 points, not more or less at the entry point...

T initial stop loss

Positive SL:
The initial stop loss should be "dynamic" and based on semi-trend, we need to define the initial stop loss for me as semi-trend +

Conservative SL:
As usual, just find a reliable key level where you will see price being rejected before, a lower high or a higher low, or even an area with a wick of more or less the same level... place your stop loss there, considering that placing a conservative stop loss will impact our RR ratio because if the trade goes crazy, our risk will be higher

Bah bah bah! ! ! There is always a but...

I don't physically place my stop loss, I know if the candle closes on my stop loss I will close the trade before price hits it, so of course I increase the risk, but there are also many situations where price just starts to retest that area and is refused to continue...

Look here how the price got rejected in the semi-trending zone and continued moving... Do you get it?

Annex g

The initial stop loss at half trend +

You can have a strict SL just to make sure you don't get burned by major news events and unexpected major changes.

Countertrade:

What is countertrade? Reverse trading is when we trade against the current trend momentum, for example when the D1 stochastic is pointing up or the trend is clearly up, we do a sell trade and if our stop loss is hit, we will open a reverse trading position, I will not martingale, I just cover my losses, but of course you are free because most of the time you will catch the resumption of the trend and therefore have a good chance of getting some good points.

Attached picture (click to enlarge)
https://www.forexfactory.com/attachm...1&d=1530119332

- Let's place the SL at semi-trend + 10 pips, when the candle closes above it, our SL will be triggered, then, since the D1 Stoch remains unchanged, we open a reverse trade.
- I like to "trigger" a counter trade up to 1 or 2 candles after my signal candle (not the entry candle), this usually means a strong reversal point and usually means a strong trend in the direction our counter trade is going to open.

Indicators and templates: