PwR EVA (PwR EVA) | Forex indicator download- MT4/MT5 resources- MetaTrader 5 resources
Hi guys! This is the system I've been testing before and after. It seems to give good results and I want to automate it.
So, here it is:
Strategy name: PwR EVA
Strategy Style: Trends
Favorable market conditions: trends
Entry signal style: based on indicators and of course a little common sense
Expected trading frequency: Approximately 5 to 8 trades per day
Expected change in each trading strategy: stop loss value 3.75
Time range: 5 minutes
Trading hours: 8.00 to 16.00 GMT
Trading Pairs: Testing EUR/USD only
Fund Management/Risk Management: The maximum stop loss is 10+ pips, and the take profit is always 3.75 times the stop loss value.
Zoom: No
Order types: pending order, stop loss order (normal situation), market order (if the price meets the assumed value).
Required metrics and any custom settings:
Pwr indicator, candle range indicator and 200 SMA.
Custom Fib with the following levels (1, 2, 3, 4, 5, 0 and -0,25) for placing the order, tp at level 5 sl at level -0,25
Trade terms:
Well, the idea behind this system is to pick price lows and use small stops and a good risk to reward ratio.
Long trade:
PwR must be positive or change from negative to positive (I'll attach examples of both cases).
The trigger candle must be completely above the 200 SMA.
The candle range must not exceed 10 pips.
So if the PwR is positive and the trigger candle is well above the 200 SMA, we wait for the "hook" (Chart #1), then we use a custom Fib to place a pending order (Buy Stop) on each candle with a range below 10 pips (the 10 pip candle is still valid). market.
Figure #1 Explanation:
The trading session begins at 8:00 GMT
PwR forms an "upward hook" (grey dotted line 1), but the candle is too big, the next candle is too big, then we get a valid trigger candle, the order is not triggered, this happens again, then on the third candle marked with the blue dotted line, the order finally gets triggered, giving us a profit of 3.75 times the stop loss.
On the second gray dotted line (2) we have another valid hook, which is important since we do not have any orders in the market (the tp of the last order was hit). The order is triggered and results in a loss.
On the third gray dotted line we have another signal; "Hook", the candle is well above the 200 SMA and less than 10 pips, we set a new pending buy stop, hitting the target price again.
When PwR crosses the 0 line from negative to positive, we use the exact same rules as using the cross as a hook.
IMPORTANT: Note on the third trade on chart #1, after the order triggered, another peg occurred (green dashed line), but since we already have an order in the market, we don't use it
Shorts on the reverse side
Results so far:
I started backtesting (per signal) 103 losing, 48 winning trades in February 2011, and I started forward testing since early January.
I hope it's explained clearly and I hope we can all benefit from it.
Sincerely, 0002097
So, here it is:
Strategy name: PwR EVA
Strategy Style: Trends
Favorable market conditions: trends
Entry signal style: based on indicators and of course a little common sense
Expected trading frequency: Approximately 5 to 8 trades per day
Expected change in each trading strategy: stop loss value 3.75
Time range: 5 minutes
Trading hours: 8.00 to 16.00 GMT
Trading Pairs: Testing EUR/USD only
Fund Management/Risk Management: The maximum stop loss is 10+ pips, and the take profit is always 3.75 times the stop loss value.
Zoom: No
Order types: pending order, stop loss order (normal situation), market order (if the price meets the assumed value).
Required metrics and any custom settings:
Pwr indicator, candle range indicator and 200 SMA.
Custom Fib with the following levels (1, 2, 3, 4, 5, 0 and -0,25) for placing the order, tp at level 5 sl at level -0,25
Trade terms:
Well, the idea behind this system is to pick price lows and use small stops and a good risk to reward ratio.
Long trade:
PwR must be positive or change from negative to positive (I'll attach examples of both cases).
The trigger candle must be completely above the 200 SMA.
The candle range must not exceed 10 pips.
So if the PwR is positive and the trigger candle is well above the 200 SMA, we wait for the "hook" (Chart #1), then we use a custom Fib to place a pending order (Buy Stop) on each candle with a range below 10 pips (the 10 pip candle is still valid). market.
Figure #1 Explanation:
The trading session begins at 8:00 GMT
PwR forms an "upward hook" (grey dotted line 1), but the candle is too big, the next candle is too big, then we get a valid trigger candle, the order is not triggered, this happens again, then on the third candle marked with the blue dotted line, the order finally gets triggered, giving us a profit of 3.75 times the stop loss.
On the second gray dotted line (2) we have another valid hook, which is important since we do not have any orders in the market (the tp of the last order was hit). The order is triggered and results in a loss.
On the third gray dotted line we have another signal; "Hook", the candle is well above the 200 SMA and less than 10 pips, we set a new pending buy stop, hitting the target price again.
When PwR crosses the 0 line from negative to positive, we use the exact same rules as using the cross as a hook.
IMPORTANT: Note on the third trade on chart #1, after the order triggered, another peg occurred (green dashed line), but since we already have an order in the market, we don't use it
Shorts on the reverse side
Results so far:
I started backtesting (per signal) 103 losing, 48 winning trades in February 2011, and I started forward testing since early January.
I hope it's explained clearly and I hope we can all benefit from it.
Sincerely, 0002097
Attachment to original post (3)
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •
