The "Forex Renewal" code
Hello everyone,
I found this strategy on an ebook that I bought. The author claimed to have executed over 500 winning trades in a row.
Obviously this is completely unrealistic. But I figured the strategy coul be winning, however. So I decided to backtest this strategy.
It didn’t work well with the entry rules mentioned in the ebook, I have simplified these rules.
This strategy takes the breakout candle between 8:45 and 09H which defines a range. If a signal candle is completely out of the range, we take position in the direction of the trend, on break of the high / low of this signal candle. Only 1 trade per day. Do not trade if the breakout candle is more than 45 pips.
This strategy applies in M15 graphs, mainly on the EUR / USD, and also the GBP / USD.
// FOREX RENEWAL system
// M15
// EUR/USD ou GBP/USD
Defparam cumulateorders = false
n = 3
// BOUGIE RANGE
IF time = 090000 THEN
hautcanal = high
bascanal = low
tradejour = 0
IF high - low >= 0.0045 THEN
tradeok = 0 // pas de trade si bougie range >= 45 pips
ELSE
tradeok = 1
ENDIF
ENDIF
// PLAGES HORAIRES
Ctime = time > 090000 and time < 180000
IF Ctime and tradeok = 1 and tradejour = 0 THEN
IF low > hautcanal THEN
BUY n shares at high + 0.0003 stop
ENDIF
IF high < bascanal THEN
SELLSHORT n shares at low - 0.0003 stop
ENDIF
ENDIF
// TAKE PROFIT
tp = 0.0045
IF longonmarket THEN
tradejour = 1
sell at tradeprice + tp limit
sell at bascanal stop
ENDIF
IF shortonmarket THEN
tradejour = 1
exitshort at tradeprice - tp limit
exitshort at hautcanal stop
ENDIF
// CLOTURE LA NUIT
IF time >= 230000 or time < 070000 THEN
sell at market
exitshort at market
ENDIF
Comments
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Ooops got that excited I sent that last one twice! ha (and can't delete it, sorry)
I got it going ... it's to do with these bits of the code ,,,
IF high - low >= 0.0045 THEN
it needs to be
IF high - low >= 45 THEN
to work on IG Spread betting accounts.
I should have relaised sooner! On spreadbetting accounts, IG multiply all instrument prices by 10000 (makes it easier to see the perpoint values, I guess?). So currently EUR/USD is 11,126 on IG spread betting charts.
Hope that makes sense, just say if not?
I'll get on with my day now that's sorted! ha
GraHal
I adjusted for GMT (minus 1 hour on all times) ... no trades.
Might it be because the code is a mixture of French and English ... I'm with IG in the UK.
I also tried the code download and copy and paste in case any different.
I'm keen on a breakout strategy so its doubley frustrating.
Hello,
Strange, it works fine for me, on each timeframe < 4H.
I'm convinced that someone can improve this strategy.
It's a breakout strategy, those kind of setups can sometimes be profitable.
But there is so much to test...
No doesnt do even 1 trade for me on GBP/ USD either.
I can normally get any strategy to do a few trades by tweaking (even if losses) but nothing on this one so far.
I put a few of the french terms into 'google translate' so I could get my head around how the code works.
I'll have another go tomorrow.
Thanks anyway Doc ... it does look interesting code / strategy ... I'd really like to get it going.
Cheers
GraHal
Hello, my best trading systems are on my website ; but I don't put the links here (as I don't want to make advertising here).
Regards,
hello doctor .... publishes the trading system your best ... I am curious to see the detailed report to compare it with mine. :-)
Hello doctor, in 5 minutes eur-usd development is good, I think it's very good strategy, thank you very much for your contribution, looketh to improve it to see if I can
No, I think it only works on EUR/USD and GBP/USD.
As I said I did want to test this strategy, but it's very far from being my best... anyway, I did post it because I think someone can really improve it.
Tried EURUSD GMT and GMT -1, as far back as I can go, Nov 2018 on 15mn Tf, 22% loss