Welcome Forex EA downloads & MT4/MT5 auto-trading resources — EAs, Gold EAs, quant tools and real-world automation.
Sign In Sign Up

Simple Monday-Tuesday System (attached c)

author EAcpu | 4 reads | 0 comments |
I have been trading using the Monday to Tuesday system (MoTu) with some success. My first post, it’s time to give back to the community!
Right : I prefer the pound cross. Could be any volatile currency pair.
The logic behind the system : Monday's and Tuesday's highs and lows typically form the week's lows or highs.

Steps (see attached calculator )

  1. Find the high and low on Monday and Tuesday.
  2. Enter this into the attached calculator .
  3. The entry point is set at 15% of the highest point.
  4. Stop loss is set 10% on the other side of the low for long; high for short.
  5. TP is set to 50% of the range.
  6. If trading has not started by the end of the week, please delete the pending order.

For example, GBP/USD this week.

  1. High formed on Tuesday; low on Monday
  2. I placed a buy order at 1.31011.
  3. Stop loss is 1.29495
  4. The target price is 1.31617

I set up sell and buy orders for each pair. After opening an order, delete another order.
Buy orders open on Wednesday and close on Friday.

I've been manually backtesting GBPJPY, GBPUSD, GBPAUD for years and it looks good.
Attached is the day of the week indicator I found on FF. I set the indicator to only show MoTu.

question

  1. If the trend overextends, it may enter and then be stopped out. In these cases, only callbacks are considered. Therefore, the system needs to be improved to take into account weekly and monthly ATR. If the weekly or monthly range is already above average, the trade may fail.
  2. If the MoTu range is too small, you may not want to place an order that week, or you may increase your entry percentage.

I'll try to post my trade here once it closes. Any advice would be greatly appreciated.

Screenshot3.pngScreenshot1.pngScreenshot2.pngScreenshot1.png
Screenshot3.pngScreenshot1.pngScreenshot2.pngScreenshot1.png
Screenshot3.pngScreenshot1.pngScreenshot2.pngScreenshot1.png
Screenshot3.pngScreenshot1.pngScreenshot2.pngScreenshot1.png
Screenshot3.pngScreenshot1.pngScreenshot2.pngScreenshot1.png
Screenshot3.pngScreenshot1.pngScreenshot2.pngScreenshot1.png

Attachment to original post (2)

📦 Summary of post attachments(161)

Below are all the files shared in the reply (161).

Verification code Refresh