Scalping system #18 (Scalping 1 min EU)
Submitted by User on June 7, 2011 - 11:41.
Submitted by ctlprogrammer
I wrote a scalping strategy for the EU 1 min chart.
See http://ctltrading.blogspot.com/2010/12/scalping-strategy.html
Expert advisor for GFT dealbook included.
First of all for those who don't know.
Scalping = http://en.wikipedia.org/wiki/Scalping_(trading)
How does this strategy work and how do you use it.
How does it work:
The strategy goes long when
1) the low of the current candle is lower than the lower bollingerband (deviation 1)
AND
2) the Fast Stochastics (line D) is lower than 19
AND
3) if you look back their is a candle with a close at least 5 pips lower than the current candle
The strategy goes short when
1) the high of the current candle is higher than the upper bollingerband (deviation 1)
AND
2) the Fast Stochastics (line D) is higher than 81
AND
3) if you look back their is a candle with a close at least 5 pips higher than the current candle
The strategy closes a long when
1) the high of the candle is above the upper bollingerband (deviation 2!)
2) the open P/L > 8000 X (distance between the upper band and lower band) X number of mini lots
3) the open P/L is bigger than MaxLoss X number of mini lots
The strategy closes a short when
1) the low of the candle is beneath the lower bollingerband (deviation 2!)
2) the open P/L > 8000 X (distance between the upper band and lower band) X number of mini lots
3) the open P/L is bigger than MaxLoss X number of mini lots
How do u use this strategy:
/* written by ctlprogrammer for EUR/USD 1 min chart */
/*Warning for demonstration purpose only, no live trading please*/
/*you can freely copy the code but plz leave this header*/
vars currentbar = 1,stoch1min(series),t=0,t1=0,t2=0,longallowed(bool),shortallowed(bool),i(number);
begin
if currentbar < check then return;
Fast_Stochastics(close,5,3);
stoch1min:=Fast_Stochastics.line_d;
t:=hour(timestamp[currentbar])*60;
t1:=h1*60;
t2:=h2*60;
longallowed:=false;
shortallowed:=false;
Bollinger_Bands(close,20,1);
begin
for i:=1 to check do
begin
if close[currentbar-5-i]<(close[currentbar]-0.0005) then longallowed:=true;
end;
if longallowed=true then
begin
buy(minilots);
end;
end;
begin
for i:=1 to check do
begin
if close[currentbar-5-i]>(close[currentbar]+0.0005) then shortallowed:=true;
end;
if shortallowed=true then
begin
sell(minilots);
end;
end;
if short() and low[currentbar]<Bollinger_Bands.line_lower[currentbar] then exitshort();
if long() and high[currentbar]>Bollinger_Bands.line_upper[currentbar] then exitlong();
if fpl()<-8000*minilots*(Bollinger_Bands.line_upper[currentbar]-Bollinger_Bands.line_lower[currentbar]) then
begin
if long() then begin alert("text","fpl BBS"); exitlong(); end;
if short() then begin alert("text","fpl BBS"); exitshort(); end;
end;
if fpl()<-MaxLoss*minilots then
begin
if long() then begin alert("text","max loss"); exitlong(); end;
if short() then begin alert("text","max loss"); exitshort(); end;
end;
end.
Greetings
ctlprogrammer
Hey i have been testing your strategy. Got 7 winning trades in a row so far. I used the default settings. They seem to be ok. I found your email on your blog. I sended you an email. I am going to run more test. Great strat dude.
Hi, I have just started learning about FX. I still have a Demo account. Is this an easy strategy to learn? I don't want to jump around getting confused with all the seemingly thousands of strategies, i want to concentrate on one and learn it well. Do you recommend this one?
Hi CTLprogrammer - how can i contact you to discuss how to use this strategy? Sounds great, but not sure how to implement it (newbie). Thanks, you can contact me on propertydoctors@xtra.co.nz
Hi, this strategy is ok for learning and starting with FX. If you are beginner i advice to start on a demo account first. Keep your position size small if you go live. Protecting you capital is essential when you are beginner.
You can ask any question you want to know here on this page. Or if it has nothing to do with this strategy you can contact me by email: ctlprogrammer@gmail.com
I sometimes use this strategy on a live account when i expect a limited number of trend changes in the day. If their are lots of short time frame trend changes you better put this strategy on a hold.
ctlprogrammer
Is it a MQ4 code? I'm getting errors and warnings when I tried to compile it on meta editor.
No, this is CTL code for dealbook. Doesn't work on MT4.
I AM A COMPLETE NOVICE REGARDING FOREX TRADING. MOST OF THE TERMS USED SOUND GREEK TO ME. PLEASE CAN YOU SEND ME A SIMPLIFIED EDITION? MY EMAIL ADDRESS IS: imagrg@yahoo.com
Please send me a simple copy of it to my email id : balaji_8989@hotmail.com , I am totally a novice trader , and I use only Mt4 platform. Please help me out I am in a search of a new strategy for scalping coz I have blown $2000 dollars in my live account by following signals and due to swing trades. Plz help me out.
Again my id is : balaji_8989@hotmail.com
I would be so grateful to you!!Or else recommend me any strategy..
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