Scalping system #15 (Black Magic)
Submitted by User on August 30, 2010 - 01:05.
Submitted by Black
Timeframe: One Minute
Indicator: No Indicator, but use (High+Low)/2 rather than Close.
Currency: EURUSD (Others not tested.)
Trading Rules: When the current (High+Low)/2 is 11 or more pips higher than the previous (High+Low)/2, close any open Buy trades and open a Sell position. When the current (High+Low)/2 is 11 or more pips lower than the previous (High+Low)/2, close any open Sell trades and open a Buy position.
Test these additional Options before implementing:
1. Use Martingale of 2 on the number of lots of any losing closed positions before opening the next trade... with a maximum of 32 Martingale positions opened on any one trade.
2. Use Limit and Stop, or Trailing Stop.
3. When a Trade closes via Limit or Stop, open another either direction (or 2, both directions) with a Trailing Stop.
If anybody likes this strategy, and creates a MT4 EA, I would appreciate a copy sent to my email address below.
blackanddecker@safe-mail.net
Could you expand on the HL/2. Is this a MA ? How do you show this on your chart.
please explain exit rule in detail....
HL/2 is simply the High added to the Low and divided by 2.
This is (High for the Period + Low for the Period)/2.
It is often a much better indicator of the true trend than the Open or the Close.
Exit rules are simple. When a difference of 11 or more pips between the current Period (H+L)/2 and the previous Period (H+L)/2 is reached, do 2 things: 1) close all open positions; 2) Open a new position against the direction of the last period.
In other words:
At the close of any given minute, if Just-Closed Minute's (H+L)/2 was 11 pips or more higher than the Previous Minute's (H+L)/2, close all open positions and open a new Sell trade.
Also, at the close of any given minute, if Just-Closed Minute's (H+L)/2 was 11 pips or more lower than the Previous Minute's (H+L)/2, close all open positions and open a new Buy trade.
Can you post some pictures?
a picture and one example with actual numbers would be highly appreciated!
Thanks
Jordan
Brilliant Strategy - I am doing it now and you virtually get tops and bottoms. Not looking at it from the 1min chart though - I am testimg it on other currencies in the 15min. Thanks for this.
It's more about counting. Making a screenshot won't help to visualize it.
Thomas
Don't understand H+L/2 more than or equal 11 pips e/u pairs normally is 1.300 something where i get 11 please explain.
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