AWE v01 is a (hopefully) advanced version of my weighted escalator system. It currently uses 8 stochs, 1 sma, 1 ema, and 1 CCI to give a score. Based on the score, you enter or close a trade.
Values are: Upward movement, Over bought, Over Sold, Downward movement
15m 5,3,3 and 14,3,3 VALUES: 1,0,0,-1
30m 5,3,3 and 14,3,3 VALUES: 2,0,0,-2
60m 5,3,3 and 14,3,3 VALUES: 2,1,-1,-2
240m 5,3,3 and 14,3,3 VALUES: 4,2,-2,-4
Using a 3 EMA and a 34 SMA
EMA over the SMA indicates an up trend, and SMA over EMA indicates a down trend.
EMA > SMA : 4 points
EMA < SMA : -4 points
Using a 34 CCI
CCI is greater than 0 but less than 100: 3 points
CCI is greater than 100: 7 points
CCI is less than 0 but greater than -100: 3 points
CCI is less than -100: -7 points
You can choose which of these you want to count towards your score. Currently, they all go towards the score. I'm still looking for another good indicator to help smooth things out a bit. Also, play with the numbers (by editing the mq4)
Buy when the score goes from below 0, and goes PAST 5.
Enter 3 Trades.
Sell hen the score goes from above 0, and goes PAST -5.
Enter 3 Trades.
DO NOT buy or sell if, when coming past 0, you have just closed a trade coming from the other side. Example. If you crossed 0 on your way down to -7, but the act of crossing 0 caused you to close some buys you had, then do not suddenly sell at -7. In these situations, wait at least 2 candles before entering a new trade. This is to confirm that you are not getting a false end.
1st trade closes after 25 pip Take Profit is reached.
2nd trade closes after 50 pip Take Profit OR when Score crosses 0, whichever comes first.
3rd trade closes after 100 pip Take Profit OR when Score crosses 0, whichever comes first.
Input needed.
As it currently stands, the indicator works great live, however, it does not show past candles correctly on the graph. I do not know why this is. If you know, please tell.
I have included a debug script to show what the current parts that make up the score are. You can turn this off in the properties. I am currently testing this system out with the above mentioned EMA, SMA, CCI and the weighted colored stochs from my previous thread. I have attached the files and a template below for testing.
DO NOT USE THIS TO MAKE LIVE DECISIONS YET. This is a beta and for testing purposes only. My goal here is to have a stable indicator that will work on a 15min or greater chart with an accuracy of 70%. Please leave comments and suggestions, and feel free to fix any programming errors you see. Thanks for you help.
STOCHATICS
Values are: Upward movement, Over bought, Over Sold, Downward movement
15m 5,3,3 and 14,3,3 VALUES: 1,0,0,-1
30m 5,3,3 and 14,3,3 VALUES: 2,0,0,-2
60m 5,3,3 and 14,3,3 VALUES: 2,1,-1,-2
240m 5,3,3 and 14,3,3 VALUES: 4,2,-2,-4
MOVING AVERAGES
Using a 3 EMA and a 34 SMA
EMA over the SMA indicates an up trend, and SMA over EMA indicates a down trend.
EMA > SMA : 4 points
EMA < SMA : -4 points
CCI
Using a 34 CCI
CCI is greater than 0 but less than 100: 3 points
CCI is greater than 100: 7 points
CCI is less than 0 but greater than -100: 3 points
CCI is less than -100: -7 points
You can choose which of these you want to count towards your score. Currently, they all go towards the score. I'm still looking for another good indicator to help smooth things out a bit. Also, play with the numbers (by editing the mq4)
BUY / SELL
Buy when the score goes from below 0, and goes PAST 5.
Enter 3 Trades.
Sell hen the score goes from above 0, and goes PAST -5.
Enter 3 Trades.
DO NOT buy or sell if, when coming past 0, you have just closed a trade coming from the other side. Example. If you crossed 0 on your way down to -7, but the act of crossing 0 caused you to close some buys you had, then do not suddenly sell at -7. In these situations, wait at least 2 candles before entering a new trade. This is to confirm that you are not getting a false end.
WHEN TO CLOSE
1st trade closes after 25 pip Take Profit is reached.
2nd trade closes after 50 pip Take Profit OR when Score crosses 0, whichever comes first.
3rd trade closes after 100 pip Take Profit OR when Score crosses 0, whichever comes first.
Input needed.
As it currently stands, the indicator works great live, however, it does not show past candles correctly on the graph. I do not know why this is. If you know, please tell.
I have included a debug script to show what the current parts that make up the score are. You can turn this off in the properties. I am currently testing this system out with the above mentioned EMA, SMA, CCI and the weighted colored stochs from my previous thread. I have attached the files and a template below for testing.
DO NOT USE THIS TO MAKE LIVE DECISIONS YET. This is a beta and for testing purposes only. My goal here is to have a stable indicator that will work on a 15min or greater chart with an accuracy of 70%. Please leave comments and suggestions, and feel free to fix any programming errors you see. Thanks for you help.
Attached File(s)
WeightedColorStoch.mq4
13 KB
|
346 downloads
awev01.tpl
47 KB
|
343 downloads
AWE_v01.mq4
13 KB
|
365 downloads
bastardv03.mq4
39 KB
|
315 downloads
|
Uploaded Oct 16, 2008 12:17pm