Changes to Weekly Reversal FX Strategy

• 03/23/2023 at 9:47 AM #211971
  Philley

  Hi,

  I’m looking for a few modifications to the attached strategy:

  Existing Strategy notes:

  Trade On Conditions

   

  – Friday move from 8:00am GMT to Friday close to be 0.007% of FX price – i.e if EUR/USD is at 10700 move to be 75 point minimum

  – Close on Friday to be weekly high/low

  – Daily RSI to be 65 or higher in uptrend or 35 or lower in downtrend

  – Price on Friday to be at or above upper BB on uptrend or at below lower BB on downtrend

  Entry Conditions:

  – Entry from 11:01pm on Sunday – entry level calculated at Fri close – plus 0.001% in downtrend or minus 0.001% in an uptrend.

  – Stop placed at 0.002% of Friday close

  – Limit – Stop x 10 – All trades standard 10R

  Modifications required:

  – Orders not filled by 8:00am Monday to be cancelled

  – Stop to be moved to break even by 8:00am Tuesday

  – Reduce entry condition on Friday from move of 0.007% to 0.005%

  – Reduce limit from 10R to 5R

  – Entry from 11:01pm on Sunday – entry level calculated at Fri <b>high or low </b>- plus 0.001% in downtrend or minus 0.001% in an uptrend. If High on Sunday from open to 11:00pm is higher that Friday high (or lower on downtrend) entry level to be adjusted accordingly

  Many thanks,

  Patrick

  

  Philley

  Participant

  Topics: 3

  Replies: 5

  Been thanked: 0 times
  05/02/2023 at 12:24 PM #213979
  robertogozzi

  Modifications required:

  1. Orders not filled by 8:00am Monday to be cancelled DONE
  2. Stop to be moved to break even by 8:00am Tuesday DONE
  3. Reduce entry condition on Friday from move of 0.007% to 0.005% what is it, I can’t see any move?
  4. Reduce limit from 10R to 5R what are they, I can’t see any reference to those values?
  5. Entry from 11:01pm on Sunday – entry level calculated at Fri high or low plus 0.001% in downtrend or minus 0.001% in an uptrend. If High on Sunday from open to 11:00pm is higher that Friday high (or lower on downtrend) entry level to be adjusted accordingly where are those conditions and values dealt with?

  defparam cumulateorders=false defparam preloadbars=0 // --- settings LotSize = 1 //define lot size of each order here // --- end of settings sellc, buyc, entry, sl, tp, dir = CALL "PRC_PatrickHilley01_indi"(close) if onmarket or shorttriggered or longtriggered then currentry=entrylevel endif if buyc[0] or sellc[0] then entrylevel=entry stoploss=sl takeprofit=tp direction=dir endif if Not Onmarket AND (Time >= 080000 AND Time[1] < 080000) AND (DayOfWeek = 1) THEN entrylevel=0 endif if Onmarket AND (Time >= 080000 AND Time[1] < 080000) AND (DayOfWeek = 2) THEN set stop BreakEven endif if entrylevel>0 then if not longonmarket and entrylevel<>currentry and close<entrylevel and direction=1 then buy lotsize contract at entrylevel stop set stop price stoploss set target price takeprofit endif if not shortonmarket and entrylevel<>currentry and close>entrylevel and direction=-1 then sellshort lotsize contract at entrylevel stop set stop price stoploss set target price takeprofit endif endif

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39

  defparam cumulateorders=false defparam preloadbars=0   // --- settings LotSize = 1 //define lot size of each order here // --- end of settings   sellc, buyc, entry, sl, tp, dir = CALL "PRC_PatrickHilley01_indi"(close)   if onmarket or shorttriggered or longtriggered then currentry=entrylevel endif   if buyc[0] or sellc[0] then entrylevel=entry stoploss=sl takeprofit=tp direction=dir endif if Not Onmarket AND (Time >= 080000 AND Time[1] < 080000) AND (DayOfWeek = 1) THEN entrylevel=0 endif   if Onmarket AND (Time >= 080000 AND Time[1] < 080000) AND (DayOfWeek = 2) THEN set stop BreakEven endif   if entrylevel>0 then if not longonmarket and entrylevel<>currentry and close<entrylevel and direction=1 then buy lotsize contract at entrylevel stop set stop price stoploss set target price takeprofit endif if not shortonmarket and entrylevel<>currentry and close>entrylevel and direction=-1 then sellshort lotsize contract at entrylevel stop set stop price stoploss set target price takeprofit endif endif

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16466

  Been thanked: 3641 times
  07/08/2023 at 2:41 PM #217441
  Philley

   

  Thanks Robert,

  Please see below for the last point that I need some assistance with:

  1. Entry from 11:05pm on Sunday – entry level calculated at Fri high or low plus 0.001% in downtrend or minus 0.001% in an uptrend. If High on Sunday from open to 11:00pm is higher that Friday high (or lower on downtrend) entry level to be adjusted accordingly where are those conditions and values dealt with?<span style=”color: #ff0000;”> I’ve added the indicator where these conditions are to be entered.</span>

   

  1. tolerence = 0.01 s0 = opendayofweek=5 s1 = range > 0.007 s2 = high=highest[5](high) s3 = rsi[14]>=65 s4 = high > BollingerUp[20](close) * (1 - tolerence) sellc = s0 and s1 and s2 and s3 and s4 if sellc then drawarrowdown(barindex,high) coloured("red") entry = close-(0.001*close) sldistance=0.002*close stoploss = close+sldistance takeprofit = close-sldistance*5 direction = -1 endif // --- b0 = opendayofweek=5 b1 = range > 0.007 b2 = low=lowest[5](low) b3 = rsi[14]<=35 b4 = low > Bollingerdown[20](close) * (1 - tolerence) buyc = b0 and b1 and b2 and b3 and b4 if buyc then drawarrowup(barindex,low) coloured("green") entry = close+(0.001*close) sldistance=0.002*close stoploss = entry-sldistance takeprofit = entry+sldistance*5 direction = 1 endif return sellc as "sell conditions" coloured(0,0,0,0), buyc as "buy conditions" coloured(0,0,0,0), entry as "entry", stoploss as "stoploss" coloured("red"), takeprofit as "takeprofit" coloured("green"), direction as "direction" coloured(0,0,0,0)

     1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37

     tolerence = 0.01 s0 = opendayofweek=5 s1 = range > 0.007 s2 = high=highest[5](high) s3 = rsi[14]>=65 s4 = high > BollingerUp[20](close) * (1 - tolerence) sellc = s0 and s1 and s2 and s3 and s4   if sellc then drawarrowdown(barindex,high) coloured("red") entry = close-(0.001*close) sldistance=0.002*close stoploss = close+sldistance takeprofit = close-sldistance*5 direction = -1 endif   // ---   b0 = opendayofweek=5 b1 = range > 0.007 b2 = low=lowest[5](low) b3 = rsi[14]<=35 b4 = low > Bollingerdown[20](close) * (1 - tolerence)   buyc = b0 and b1 and b2 and b3 and b4   if buyc then drawarrowup(barindex,low) coloured("green") entry = close+(0.001*close) sldistance=0.002*close stoploss = entry-sldistance takeprofit = entry+sldistance*5 direction = 1 endif   return sellc as "sell conditions" coloured(0,0,0,0), buyc as "buy conditions" coloured(0,0,0,0), entry as "entry", stoploss as "stoploss" coloured("red"), takeprofit as "takeprofit" coloured("green"), direction as "direction" coloured(0,0,0,0)

      

  

  Philley

  Participant

  Topics: 3

  Replies: 5

  Been thanked: 0 times
• Author
  Posts