An Easy System (With the help of ES Trad)
I must say that the concept of this system is taken from the "Another Simple System" theme of ES Trader.
http://www.forexfactory.com/showthread.php?t=239951
index:
Bull and Bear Indicator Damiani Indicator
Lookout:
1. Only trade when the Damiani indicator says "Trade"
2. Using bull and bear market values, if bull market absolute value is greater than bear market absolute value = long position. Opponents take short positions. (See comments for better understanding)
3. After the first "cross", as long as the Damiani indicator still shows "Trade", you can continue to look for subsequent trades in the same direction. But this part is a little tricky. For example, (for a long position) calculate the difference between the bullish and bearish values, make sure the difference is greater than the previous candlestick, and then enter the position. The opposite is true for short positions.
Money management:
I always use a TP of 20 pips and the SL is the high of the last 2 candlesticks.
Note: Sometimes the values in bull and bear markets will have a negative sign in front of them, just ignore the negative sign and use absolute values in your calculations. For example, a bull market is 0.00164 and a bear market is -0.00701, this would be a short position and the difference is calculated as 0.00701 - 0.00164 = 0.00537.
I'm currently testing GBP/USD H1. If anyone could come up with an EA it would be greatly appreciated and could be backtested in more detail.
http://www.forexfactory.com/showthread.php?t=239951
index:
Bull and Bear Indicator Damiani Indicator
Lookout:
1. Only trade when the Damiani indicator says "Trade"
2. Using bull and bear market values, if bull market absolute value is greater than bear market absolute value = long position. Opponents take short positions. (See comments for better understanding)
3. After the first "cross", as long as the Damiani indicator still shows "Trade", you can continue to look for subsequent trades in the same direction. But this part is a little tricky. For example, (for a long position) calculate the difference between the bullish and bearish values, make sure the difference is greater than the previous candlestick, and then enter the position. The opposite is true for short positions.
Money management:
I always use a TP of 20 pips and the SL is the high of the last 2 candlesticks.
Note: Sometimes the values in bull and bear markets will have a negative sign in front of them, just ignore the negative sign and use absolute values in your calculations. For example, a bull market is 0.00164 and a bear market is -0.00701, this would be a short position and the difference is calculated as 0.00701 - 0.00164 = 0.00537.
I'm currently testing GBP/USD H1. If anyone could come up with an EA it would be greatly appreciated and could be backtested in more detail.
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