Advanced system #3 (Neat entry: RSI + Full Stochastic)
Submitted by Edward Revy on May 13, 2007 - 15:40.
Current strategy has won the hearts of many Forex traders. And why not when it has a great winning potential.
Strategy requirements/setup:
Time frame: daily
Currency pair: any
Trading setup: SMA 150,
RSI (3) with horizontal lines at 80 and 20,
Full Stochastic (6, 3, 3) with horizontal lines at 70 and 30.
Trading rules:
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Cosa significa "full stochastic e come si calcola? grazie.
Trader Di Carlo Dario
Full Stochastic = Slow Stochastic.
The Setup on August 13 was good, I remember I also waited for Stochastic to finally cross and took a position on August 17. But, to my disappointment the price went down (although not without a fight), and I accepted a loss (close to 100 pips).
Well, recently the pair seems to be slowly recovering, but with our current system there are no signals to work with.
Kind regards,
Edward
Edward, I was just wondering if you agree with all the changes Haydel made to make -his- EA work with -your- system? Do you agree with everything he is doing, I tend to believe that humans have an 'instinct' that can see data differently than machines, so the trick is to make the machines see the data the same way (I'm an artificial intelligence programmer, by the way)
Anyway, if you don't agree with some of Haydel's ways, let me know because I would like to give some "human intelligence" to his EA, so it is an "Edward-clone", basically make it act -exactly- like you do, emotions and all...
Best regards,
Aku11a
Hi Aku11a,
I like the changes made by Haydel (all 4 of them), he added consistency & structure to the most slippery aspects of the strategy.
I think you could incorporate it along with your advanced "human intelligence" approach.
Kind regards,
Edward
Can i use it in hourly chart?
interesting but unfortunately it is meant for a daily chart. can i apply to an hour chart??? if not, can u suggest a strategy for an hour chart as I do not have enough funds to go for the daily chart? appreciate you help.
On 1 hour charts you'll have different results, possibly more false signals, but this shouldn't stop you from trying.
Regards,
Edward
Thanks for sharing the strategy Edward!
I did some preliminary simulation of this strat. Please note that I just programmed this last night and it might be inaccurate!
Interval: 1 day
Stop Loss: local minimum or maximum for the last 10 candles
Take Profit: slowD or slowK crosses 70 for long or 30 for short
Results: 60.6 % success rate.
Attached is the results.
AdvancedStrategySimulation.xlsx