3 CCIs 'Flag' Trading - MT4/MT5 Resources
I'm sharing this to solicit the FF community's honest opinion on its long-term trading viability. I have limited resources for backtesting and forward testing, and I hope those who would like to take a look and give their opinions.
This system is actually a fork of Divergent Flag Trading. This thread mostly evolved from this article by Clivepackham here.
I noticed that it required fast fingers to get into the 1 pip high/low of the sub (signal) bar, so I tipped Ronald Legon on his site for the obligation which he graciously and freely fulfilled and hereby allows it to be shared on FF.
I did manual backtesting from February to September, and only 1 month was a failure. I did live trading on Alpari in October and November and the win/loss/ratio was 35/20/16 and 31/19/8 respectively.
The EA is all the system needs. I have provided a copy of a working short and long trade with settable parameters.
The EA is based on the following rules:
Trading hours: Frankfurt opening to London closing (not yet included in EA)
System settings:
1. 3 CCI periods 8,40,120 apply to typical prices (HLC/3)
2. SMA period 10 applies to the median price (HL/2).
Trading rules:
Time: 1 minute Setting 1 - The bar when all 3 CCI move above 50 simultaneously is the signal bar.
Setup 2 - Initially the CCI 120 is above 50, then the bar when the remaining 2 CCI moves above 50 is the signal bar.
Setup 3 - Initially the CCI 40 is above 50, then the bar when the remaining 2 CCI moves above 50 is the signal bar.
The signal bar's lowest price must be less than 2.4 points from the SMA and less than 11 points from the last fractal/lowest point.
If any of the next 3 bars breaks above the signal bar high by 1 pip, enter the trade long. Stop loss is 15 points and take profit is 16 points. Move to BE with 10 points
When the rules below -50 are met, shorting is as above
If there is anything to add, the first post will always be edited.
This system is actually a fork of Divergent Flag Trading. This thread mostly evolved from this article by Clivepackham here.
I noticed that it required fast fingers to get into the 1 pip high/low of the sub (signal) bar, so I tipped Ronald Legon on his site for the obligation which he graciously and freely fulfilled and hereby allows it to be shared on FF.
I did manual backtesting from February to September, and only 1 month was a failure. I did live trading on Alpari in October and November and the win/loss/ratio was 35/20/16 and 31/19/8 respectively.
The EA is all the system needs. I have provided a copy of a working short and long trade with settable parameters.
The EA is based on the following rules:
Trading hours: Frankfurt opening to London closing (not yet included in EA)
System settings:
1. 3 CCI periods 8,40,120 apply to typical prices (HLC/3)
2. SMA period 10 applies to the median price (HL/2).
Trading rules:
Time: 1 minute Setting 1 - The bar when all 3 CCI move above 50 simultaneously is the signal bar.
Setup 2 - Initially the CCI 120 is above 50, then the bar when the remaining 2 CCI moves above 50 is the signal bar.
Setup 3 - Initially the CCI 40 is above 50, then the bar when the remaining 2 CCI moves above 50 is the signal bar.
The signal bar's lowest price must be less than 2.4 points from the SMA and less than 11 points from the last fractal/lowest point.
If any of the next 3 bars breaks above the signal bar high by 1 pip, enter the trade long. Stop loss is 15 points and take profit is 16 points. Move to BE with 10 points
When the rules below -50 are met, shorting is as above
If there is anything to add, the first post will always be edited.
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