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Forex trading strategy #53 (Strategy for EURJPY 15M)

Submitted by Emad

I want to share this strategy for EURJPY 15M

Indicator: RSI (14) level 50+ Stochastic (5.3.3) level 20,80

we put RSI 4H , Stochastic 15M chart

buy: RSI ( 4H more than 50 ) we go 15M waiting Stochastic to cross from 20

sell: RSI ( 4H down than 50 ) we go 15M waiting Stochastic to cross from
80 level

take profit 50 pips and trail stop 20 pips
I try it it so good , money management 10% of your capital

Download indicator: KFSE_RSI_Bars_Swing.ex4



Download EA: RSI_STO555.mq4

Looks promising, will give it a try. What does the number 0-209 at the bottom image stands for? Is it the number of days?

I designed this as a Strategy on ActTrader (company ActForex). In a test run on the month beginning 23/9/12 to 23/10/12 (the last 30 days) I earned 116 pips having only one trade open at a time. By allowing as many trades to be open at the same time as the Strategy might call for, I earned over 140 pips. This is a test run.

Note: I was uncertain of the Stochastic I should use, so I used a fast stochastic of 5/3/3.

Then I changed the parameters just slightly. I set both Stop and Limit to 30 pips. I turned the Trailing Stop off. I added a Martingale-like multiplier of 2 that was applied on the next trade lots following a losing trade. I had 2 losing trades and 9 winning trades. One of the winning trades had 4 lots because of the multiplier being applied after the 2 losing trades. The results were over 380 pips for the month. The lowest drawdown was -10 pips.

Next, I tested the last month (same time as with the USDJPY, above) using the EURUSD. I used all the same settings except I found that I needed to swap the Buys for Sells, and the Sells for Buys. What I mean is, every time the trade wanted to go long, I had it go short instead. And I had the shorts go long.

The results for the EURUSD were 13 wins and 5 losses with an extra 9 lots created because of the way the losing trades occured. The final pips were over 360.

Next, I tested GBPJPY. I had to switch the longs and shorts back to the way that they were originally in the first test above. There were 6 wins and 5 losses. The final pips were only 38.

Testing can vary wildly from month to month. I'm going to attempt testing back 90 days.

:) --- black

Hi Emad, again nice Idea.
You want to share your EA with us? Please :-)


Is there a reason why GPG/JPY? Why not other pairs?


Hi Emad. Very interesting strategy. I would ask, you wait for closing of the 4th hour candle or you enter as soon as RSI 14 becomes more than 50? Thanks, Greg.

Thanx all

first the numbers 0-209 is the size numbers the number of lots
second black, good job you have to try and try to get to right strategy good luck to you:)
third I will no problem but I didn't finished totally I noticed some month was losing but over all It's wining I'm modified it to make it better :)this test was for 10 month and because the money management it get win
third Insider , It not gbpjpy It is eurjpy , I was test all currencies and this pair was the profitable one , so I'm giving you the best pair to trade to win not to loss :)
fourth Greg , yes I wait the candle to close above 50 level to buy or down 50 level to sell , and there is something you have to note always when you in position of buy ( mean RSI above 50 ) you always note every 4H candle closing is the RSI still indicate to up if it continue buying position , ok


Hi Emad.what about sl?