Easy Bounce System autotrade and manual (Easy Bounce System autotrade and manual)
Hello everyone,
Originally this system started from here:-
http://www.forexfactory.com/showthread.php?t=345586
However, I decided to try automating it and optimizing it using backtesting and ended up with a completely different system, so I decided to create this thread. I will provide details on how to trade manually and automatically.
So far I have only developed it for EURUSD on the 15 minute chart
Trade entries during 8, 9, 10 or 13->17 GMT
Trade only on the 200 EMA. Take long trades when the green line of the TDI indicator (see below) is above the yellow and red lines and the red line is above 50 and short trades on the opposite side. Take trades when the CCI with a period of 8 exceeds 30. Initiate a 30 pip trailing stop when profitable.
Profit target 40, stop loss 40-80, depending on how aggressive you are. When the backtest stop loss is 40, the profit coefficient is 1.7, and when the stop loss is 80, the profit coefficient is about 2. You can adjust the CCI minimum setting to suit your desired trading frequency. The setup suggested above is conservative and does not provide trading opportunities every day. A minimum CCI value of 0 will result in more transactions, but when set to 30, the profit factor drops from about 2 to about 1.75. All backtested results are from January 1, 2011 to the present and should be considered indicative only. The market has a habit of changing, and you need to stay on top of these changes by constantly testing your strategies.
To autofill, I put these settings into the free and pro versions of FX-Scanner (fx-scanner.com). Attached is the test result, starting from trading 0.1 lots of $10,000. The one above uses the free version of FX-Scanner, and the one below uses the professional version. Due to limitations of the free version, FREE is configured slightly differently. I use MACD instead of CCI, which doesn't work very well.
Originally this system started from here:-
http://www.forexfactory.com/showthread.php?t=345586
However, I decided to try automating it and optimizing it using backtesting and ended up with a completely different system, so I decided to create this thread. I will provide details on how to trade manually and automatically.
So far I have only developed it for EURUSD on the 15 minute chart
Trade entries during 8, 9, 10 or 13->17 GMT
Trade only on the 200 EMA. Take long trades when the green line of the TDI indicator (see below) is above the yellow and red lines and the red line is above 50 and short trades on the opposite side. Take trades when the CCI with a period of 8 exceeds 30. Initiate a 30 pip trailing stop when profitable.
Profit target 40, stop loss 40-80, depending on how aggressive you are. When the backtest stop loss is 40, the profit coefficient is 1.7, and when the stop loss is 80, the profit coefficient is about 2. You can adjust the CCI minimum setting to suit your desired trading frequency. The setup suggested above is conservative and does not provide trading opportunities every day. A minimum CCI value of 0 will result in more transactions, but when set to 30, the profit factor drops from about 2 to about 1.75. All backtested results are from January 1, 2011 to the present and should be considered indicative only. The market has a habit of changing, and you need to stay on top of these changes by constantly testing your strategies.
To autofill, I put these settings into the free and pro versions of FX-Scanner (fx-scanner.com). Attached is the test result, starting from trading 0.1 lots of $10,000. The one above uses the free version of FX-Scanner, and the one below uses the professional version. Due to limitations of the free version, FREE is configured slightly differently. I use MACD instead of CCI, which doesn't work very well.
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