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.
Edward Revy,
http://forex-strategies-revealed.com/
Copyright © Forex Strategies Revealed
Please whenever i add the H+L and divide by 2 is always grater than 11 For example candle stick of 2012.07.09 18.02 H=1.2309 and L=1.2296 when i add this it give me 4605/2=2302.5 Please explain better is it to add or mint
please post pictures
This system is great if you like to receive a call from Mr Margin!
dudes don't you get it? this strategy is magic, black magic.. help yourself by asking how to use it to a voodoo doll (not available in nearby stores).
Can somone help to provide profitable EA with this system? Thanks in advance!
all r here r a***holes......
first trade and then learn it urself...
then try this ..
here is most of fuc*ing guys dont know H+L/2.shame on u.
experience in mkt is important.
i just wanna tell u guys, this mkt is very risky, dont trade with ur money.
u'll loose everything....yeah everything..
Beware... thinks on it.. and stay away 4m forex mkt.
ITS RISKY mkt.
after 4yrs of experience in mkt, i just wanna tell u i was loosing money till 1 yr .... in th8 1 yr i also made money with my talent or trading analysis... b8 it was like recovering account after loss ,so there was no profit actually, i was recovering my lost money till 1 and half yr..i loss bcoz of fuck*ng indicators, EA, forex signlas. after that i realized the mkt is risky,so i started trading again with my own strategy...now i tell u dont follow indicators, EA, forex signlas. these r totally fakes they will make to divert ur mind 4m trading, makes u sick...
Testing complete. Stay away from this scalping system. It will drain your account. Forward tested using Hign+Low/2... and a 2nd version using Open+Close/2 just in case. Suggest the system be removed from the list.
I am testing indicators for this.
First, 2 things for clarification in this thread:
1) HL/2 is properly defined as the High (upper shadow or "wick" of a candle) minus the Low (lower shadow or "wick" of that candle) divided by 2. For a candle gaining value, the uppermost body (or "bar") of the candle is properly defined as the Close. The lowermost body (or "bar") of the candle is properly defined as the Open. The inverse applies to a candle losing value. I mention this because the strategy author refers to "bars" in a post here, but HL/2 is actually calculated on the "wicks." My indicators use the actual HL/2 ("wicks").
2) Strategy states open a buy position upon HL/2 decrease and open a sell position upon HL/2 increase, but a post here states open a sell position upon HL/2 decrease and open a buy position upon HL/2 increase. My indicators use the original strategy (open a buy on decrease, sell on increase).
I have found that backtesting is notoriously unreliable in MT4, especially for shorter timeframes. I received a 0% accuracy during backtesting and I am not surprised. However, I am forward testing on the M1 EUR/USD chart now. I am using 3 Simple Moving Averages. Each is set to calculate the median (HL/2) average of only 1 period (1 candle). Basically, it's a HL/2 price per closed candle calculator. I added 11 pips to the sell indicator caluculation, and subtracted 11 pips from the buy indicator calculation, and shifted both forward 1 period. Basically, when the current candle closes with its HL/2 MA above or below either of the previous candles' MAs (shifted forward to current time), a buy or a sell is triggered respectively.
These indicators also use 5 digit micro pips because regular 4 digit pips almost never trigger (I use .00011 difference in price instead of .0011 difference in price). This is actually 1.1 pips instead of the stated 11 pips.
I should note, I wrote the EA using a code generator (Molanis) so it is useless outside of my pc. However, I will post the indicators (coded on my own) in the Scalping Systems section if they are profitable.
If someone can confirm that it will profit consistently, I can post an indicator that will show the figures easily enough. Unfortunately the EAs I write are for $, which may be counter to the spirit of this great site. However, I can do the indicator easily enough, then hopefully we can be happy to work this idea out. Obviously M1 wouldn't work, so it would be interesting to know if this is just an idea or a workable strategy.
so whats up??? Thats it?? Is there nobody who can come up with an indicator or something like that .. ??? anybody ?? Edward what can we do .. this is sad that we can work this idea out !!
yah... i can't find 1 single time where this ever happens on 1 minute time frame either
As far as I can see in backtesting, this NEVER happens. I've gone back a long ways and there is never a 11 pip difference between 1 minute bars. 5 minute, 30 minute, sure, but I did not see even one 1 minute bar with 11 pips of difference. What gives?
Who said that his is a good strat ? Actualy i have no idea if this strat may work or not, but you are realy sitting at an M1 chart calculating the median price and then subtract that from previous medium Minute by Minute ?
Or do you have coded an indicator or ea for this ? If so it would be nice to know.
If we're talking about 1 minute manual trading, staring at charts is inevitable :)
Very nice strategy. Thank you.
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