Hi all,

I decide to open a new topic because I need help with the strategy I created using my methodology and my style of algorithmic trading (few money per trade to risk, small time frame, mini contract in IG).

After a while studying the double to and double bottom detected by this code https://www.prorealcode.com/prorealtime-market-screeners/double-top-double-bottom-screener/. I realized that I only know that I don’t know anything.

So here is what I got: I open a long order and a short order just below and above a double top/low. When the order are activated i.e. the double bottom/top is either activated or annulated the market almost always move quickly because (I think) because there are many order placed just in that area.

The strategy  take very small profits many often but when it loses…. It loses a lot! 

I trade this in real life and winning two out of two but I am not happy because I need two win 4 times for compensate a possible future loss. That’s why I do not upload the strategy to the library.

I hope all of you can help me with this endeavour.

Thanks

//M&W HUNTER
//Autor: LEO

DEFPARAM CumulateOrders = false // Cumulating positions deactivated
DEFPARAM PreLoadBars = 3000 //cargar informacion



//VARIABLES TO BE OPTIMIZED
//PERIOD=20    //Period for analysis
//Kdouble=0.2 //Factor for defining what is double top or bottom
//maxrisk0=13 //pips per trade to risk
//Kprofit=0.5 // proportion of profit target

maxrisk=maxrisk0+(n-1)*2
totalrisk=4*maxrisk*PIPVALUE //for stop the robot if things are going bad

spread=0.7
IF TIME < 060000 THEN //(germany time)
spread=2*spread
ELSIF TIME>213000 THEN //(germany time)
spread=2*spread
ENDIF

//Robot Working Time (Germany)
IF TIME>020000 and TIME < 220000 THEN
ontime=1
ELSE
ontime=0
ENDIF

////// RISK CONTROL IF THINGS ARE GOING WONDERFULL  //////
n = 1 + (strategyprofit / (77*pipvalue))
n = round(n * 100)
n = n / 100
n = max(1,n)


//    >>>>>>>>>   M&W patterns   <<<<<<

WMA=weightedaverage[period](close)

//Smoothed curve of Leo Moving Average
IF BARINDEX > period THEN
smoothWMA=weightedaverage[period](WMA)
ELSE
smoothWMA=undefined
ENDIF

// << Storage of minimums and maximums >>
once mintemp=low
once posmintemp=1
once maxtemp=high
once posmaxtemp=1

IF BARINDEX>2 THEN
// the value 0.7 is to ensure that the donchian channel is faster than the curves analysis (this value to be checked)
IF low < lowest[round(0.75*period)](low[1]) THEN
mintemp=low //minimum temporal
posmintemp=BARINDEX //postition of minimum temporal
ENDIF
IF high > highest[round(0.75*period)](high[1]) then
maxtemp=high //maximum temporal
posmaxtemp=BARINDEX //position maximum temporal
ENDIF
ENDIF

//  << Detecting and locating a local minimums >>
//  Where the WMA is crossing the smoothed WMA, there is a maximum or minimum nearby
//  If there is a new local min/max, the preivus one is stored in de varible B... (before)
once LEVMIN=low
once POSLEVMIN=1
once LEVMAX=high
once POSLEVMAX=1
once bullcross=0
once bearcross=0

IF BARINDEX > PERIOD THEN //For avoid computer errors
bullcross=WMA crosses over smoothWMA
bearcross=WMA crosses under smoothWMA
ENDIF


IF bullcross and POSLEVMIN<>posmintemp  THEN
BLEVMIN=LEVMIN        //previus local minimum is saved
BPOSLEVMIN=POSLEVMIN
LEVMIN=mintemp
POSLEVMIN=posmintemp
support=LEVMIN
ENDIF

// --> Detecting and locating a local maximum
IF bearcross and POSLEVMAX<>posmaxtemp THEN
BLEVMAX=LEVMAX       //previus local maximum is saved
BPOSLEVMAX=POSLEVMAX
LEVMAX=maxtemp
POSLEVMAX=posmaxtemp
resistance=LEVMAX
ENDIF

once support=low
once resistance=high
support=min(low,support)
resistance=max(high,resistance)


// << DETECTING DOUBLE TOP OR BOTTOMS  >>

once WidthDoubleTop = high-low
once WidthDoubleBottom = high-low
once Wpattern=0
once Mpattern=0


//  <<<<<<  Double bottoms   >>>>>>>>>

//looking for the top between two local minimums
IF bullcross THEN
doublebottomtop=high[BARINDEX-POSLEVMIN+1] // we start looking for the top in between two local minimums
//POSdoublebottomtop=BARINDEX-POSLEVMIN+1
FOR i = (BARINDEX-POSLEVMIN+1) to (BARINDEX-BPOSLEVMIN-1) DO
IF high[i] > doublebottomtop THEN
doublebottomtop=high[i]
//POSdoublebottomtop=BARINDEX-i
ENDIF
NEXT
WidthDoubleBottom = doublebottomtop-(BLEVMIN+LEVMIN)/2 // (top betwen local minimums) - (average of the las two local minimums)
IF abs(BLEVMIN-LEVMIN) < Kdouble*WidthDoubleBottom THEN
// we have a double bottom
Wpattern=1
else
Wpattern=0
ENDIF
ENDIF

//   <<<<<<<<<<  Double tops    >>>>>>>

//looking for the bottom between two local maximums
IF bearcross THEN
doubletopbottom=low[BARINDEX-POSLEVMAX+1]
//POSdoubletopbottom=BARINDEX-POSLEVMAX+1
FOR i = (BARINDEX-POSLEVMAX+1) to (BARINDEX-BPOSLEVMAX-1) DO
IF low[i] < doubletopbottom THEN
doubletopbottom=low[i]
//POSdoubletopbottom=BARINDEX-i
ENDIF
NEXT
WidthDoubleTop=(BLEVMAX+LEVMAX)/2 -doubletopbottom
IF abs(BLEVMAX-LEVMAX) < Kdouble*WidthDoubleTop THEN
// we have a double top
Mpattern=1
else
Mpattern=0
ENDIF
ENDIF

//    <<<<<<<<<<  DOUBLE BOTTOM FOR TRADING  >>>>>>>>
once entrylong=undefined
once entryshort=undefined

myATR=AverageTrueRange[2*period](close)

IF Wpattern=1 THEN
IF close > (doublebottomtop+myATR) or close < (LEVMIN-0.5*myATR) THEN
Wpattern=0 //  <<<< double bottom has been activated or it was cancelled >>>>>
ELSE
//Here we trade
entrylong = max(doublebottomtop,high)+spread*pipsize/2
entryshort= min(LEVMIN,low)-0.5*myATR-spread*pipsize/2
stoploss = min(maxrisk,WidthDoubleBottom/pipsize+1.5*spread)
StopProfit= WidthDoubleBottom/pipsize*Kprofit

IF NOT LongOnMarket AND ontime=1 THEN
BUY n CONTRACTS AT entrylong STOP
SET STOP pLOSS stoploss
SET TARGET pPROFIT StopProfit
ENDIF

IF NOT ShortOnMarket AND ontime=1 THEN
SELLSHORT n CONTRACTS AT entryshort STOP
SET STOP pLOSS stoploss
SET TARGET pPROFIT StopProfit
ENDIF
ENDIF
ENDIF

//    <<<<<<<<<<  DOUBLE TOP FOR TRADING  >>>>>>>>
IF Mpattern=1 THEN
IF close < (doubletopbottom-myATR) or close > (LEVMAX+0.5*myATR) THEN
Mpattern=0 //double top has been activated or it was cancelled
ELSE
//Here we trade
entrylong = max(LEVMAX,high)+0.5*myATR+spread*pipsize/2
entryshort= min(doubletopbottom,low)-spread*pipsize/2
stoploss = min(maxrisk,WidthDoubleTop/pipsize+1.5*spread)
StopProfit= WidthDoubleTop/pipsize*Kprofit

IF NOT LongOnMarket AND ontime=1 THEN
BUY n CONTRACTS AT entrylong STOP
SET STOP pLOSS stoploss
SET TARGET pPROFIT StopProfit
ENDIF

IF NOT ShortOnMarket AND ontime=1 THEN
SELLSHORT n CONTRACTS AT entryshort STOP
SET STOP pLOSS stoploss
SET TARGET pPROFIT StopProfit
ENDIF

ENDIF
ENDIF

IF longonmarket then

IF close < support[1] THEN //+0.3*(resistance-support)
SELL AT MARKET
ENDIF

IF TIME > 224500 and DayOfWeek=5 then
SELL AT MARKET
ENDIF
endif

IF shortonmarket then

IF close > resistance[1] THEN //-0.3*(resistance-support)
EXITSHORT AT MARKET
ENDIF

IF TIME > 224500 and DayOfWeek=5 then
EXITSHORT AT MARKET
ENDIF
endif

//Quit the robot if things are going bad
Q=MAX(Q,(STRATEGYPROFIT/pipvalue/n))
R=Q-STRATEGYPROFIT/pipvalue/n
IF R > totalrisk THEN
QUIT
ENDIF

IF STRATEGYPROFIT < (-1*totalrisk) THEN
QUIT
ENDIF

MW-HUNTER-v1.2.itf Screen-Shot-2017-11-17-at-06.44.01.png