Hello all! Needed some suggestions for an EA I am trying to make. Works best in AUD/USD M15.
Buy strategy:
Candle closes above 10 SMA
Stochastics(14,3,5) crossed upwards
MACD(21,55,8) not overbought(either line greater than 0.0011), also must be bullish
ADX greater than 30
Sell strategy:
Candle closes below 10 SMA
Stochastics(14,3,5) crosses downwards
MACD(21,55,8) not oversold(-0.0011), also must be bearish
ADX greater than 30
Buy Exit:
Candle closes below 10 SMA & Stochs crosses down, OR candle closes below & stochs is overbought
Sell Exit:
Candle closes above 10 SMA & stochs crosses up, OR candle closes above & stochs is oversold
The purpose of the ADX filter is so that choppy markets where price keeps crossing the SMA up and down are ignored. MACD extremes are also ignored because these tend to be reversal-prone.
The use of a stop-loss is optional - the exit rules are designed as such so that a reversal is immediately spotted and the trade is closed.
Back-testing results in MT4 showed a roughly 30-40 pip average profit trade, and a 20 pip average loss trade. However, win-loss percentage was 35/65. Ideally, if I could tip the percentage to 50/50 or greater, the strategy will be very profitable.
It seems that the EA still kicks in a few faulty entries. Whether it is the code that is flawed or the strategy, I am not sure. Any suggestions as to the strategy, and any offers to code the EA are welcome.
Cheers!
Buy strategy:
Candle closes above 10 SMA
Stochastics(14,3,5) crossed upwards
MACD(21,55,8) not overbought(either line greater than 0.0011), also must be bullish
ADX greater than 30
Sell strategy:
Candle closes below 10 SMA
Stochastics(14,3,5) crosses downwards
MACD(21,55,8) not oversold(-0.0011), also must be bearish
ADX greater than 30
Buy Exit:
Candle closes below 10 SMA & Stochs crosses down, OR candle closes below & stochs is overbought
Sell Exit:
Candle closes above 10 SMA & stochs crosses up, OR candle closes above & stochs is oversold
The purpose of the ADX filter is so that choppy markets where price keeps crossing the SMA up and down are ignored. MACD extremes are also ignored because these tend to be reversal-prone.
The use of a stop-loss is optional - the exit rules are designed as such so that a reversal is immediately spotted and the trade is closed.
Back-testing results in MT4 showed a roughly 30-40 pip average profit trade, and a 20 pip average loss trade. However, win-loss percentage was 35/65. Ideally, if I could tip the percentage to 50/50 or greater, the strategy will be very profitable.
It seems that the EA still kicks in a few faulty entries. Whether it is the code that is flawed or the strategy, I am not sure. Any suggestions as to the strategy, and any offers to code the EA are welcome.
Cheers!