Bollinger Bounce Strategy

• 01/26/2017 at 8:44 AM #22527
  StantonR

  Hi All

  I have been working on a strategy that I got from a Forex website.

  I have tested it out and seems to be working pretty well. The problem I am finding with it that I am struggling to define a good exit strategy. Sometime you would like to let it run to maximize profits.

  Strategy
  EURUSD mini
  Initial Capital $100
  15 Min timeframe

  Look for Tweezer bottom or tweezer tops

  Long Entry
  Tweezer Bottom
  Low< BolingerDown
  bullindicator = OPEN[1] > CLOSE [1] AND OPEN < CLOSE

  Short Entry
  Tweezer Top
  High > BollingerUp
  bearindicator = OPEN[1] < CLOSE [1] AND OPEN > CLOSE

  Results so far have been pretty good from 25 – 10000 ticks.

  Like I said I am trying to work on a good exit strategy to maximize profits currently I am using the EMA 20 do define the exit but sometimes it exits too early.

  Here is the code any help will be apprecitated

  DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM preloadbars = 0 ema20 = ExponentialAverage[20](close) //ema8 = ExponentialAverage[20](close) // Conditions to enter long positions tweezerTop = ABS(High -(High[1]))<= High * 0.0075 tweezerBottom = ABS(Low -(Low[1]))<= Low * 0.0075 bullindicator = OPEN[1] > CLOSE [1] AND OPEN < CLOSE bearindicator = OPEN[1] < CLOSE [1] AND OPEN > CLOSE Boll = 20 Boldown = BollingerDown[Boll](close) Bolup = BollingerUp[Boll](close) BolliLong = (low < Boldown) and tweezerBottom and bullindicator Bolishort = (high > Bolup) and tweezerTop and bearindicator IF NOT LongOnMarket AND BolliLong THEN BUY 1 CONTRACTS AT MARKET ENDIF LongExit = high < ema20 // Conditions to exit long positions If LongOnMarket AND LongExit THEN SELL AT MARKET ENDIF // Conditions to enter short positions IF NOT ShortOnMarket and Bolishort THEN SELLSHORT 1 CONTRACTS AT MARKET ENDIF ShortExit = low > ema20 // Conditions to exit short positions IF ShortOnMarket AND ShortExit THEN EXITSHORT AT MARKET ENDIF SET STOP PLOSS 20

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44

  DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM preloadbars = 0     ema20 = ExponentialAverage[20](close) //ema8 = ExponentialAverage[20](close) // Conditions to enter long positions tweezerTop = ABS(High -(High[1]))<= High * 0.0075 tweezerBottom = ABS(Low -(Low[1]))<= Low * 0.0075   bullindicator = OPEN[1] > CLOSE [1] AND OPEN < CLOSE bearindicator = OPEN[1] < CLOSE [1] AND OPEN > CLOSE Boll = 20   Boldown = BollingerDown[Boll](close) Bolup = BollingerUp[Boll](close)     BolliLong = (low < Boldown) and tweezerBottom and bullindicator Bolishort = (high > Bolup) and tweezerTop and bearindicator   IF NOT LongOnMarket AND BolliLong THEN BUY 1 CONTRACTS AT MARKET ENDIF   LongExit = high < ema20   // Conditions to exit long positions If LongOnMarket AND LongExit THEN SELL AT MARKET ENDIF   // Conditions to enter short positions IF NOT ShortOnMarket and Bolishort THEN SELLSHORT 1 CONTRACTS AT MARKET ENDIF   ShortExit = low > ema20 // Conditions to exit short positions IF ShortOnMarket AND ShortExit THEN EXITSHORT AT MARKET ENDIF   SET STOP PLOSS 20

   

   

  

  StantonR

  Participant

  Topics: 7

  Replies: 70

  Been thanked: 7 times
  01/26/2017 at 10:07 AM #22544
  Nicolas

  There are no easy ways to exit properly with the best profit, but there are for sure many many ways to try 🙂

  You can try to use MAE/MFE study to see how much money trades can do (or not) and find an edge between the 2 values.

  Trailing stop, breakeven or exit after X bars from first trade (Pathfinder’s style as far as I know..),  time schedules like many Open Range Breakout strategies you’ll find on the website, ..

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4775 times
• Author
  Posts