EurUsd H1 Simple Profit System

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  • 05/06/2017 at 8:49 AM #34669
    grimweasel47

    Hi folks.

    I have a simple H1 system for trading EurUsd only that I want to automate because of work getting in the way of trading! Personaly I don’t trust automated trading with MT4 EAs and the ability of brokers to ‘bend’ prices and fills.

    Depending on price relative to MA we set one of 3 trades.

    In short the simple system (that is highly profitable) is such:

    • EurUsd only
    • H1 chart with candles/bars and a 24period ATR and 20 period MA
    • Set Orders at 0700 GMT (1hr before UK cash equity open). Maybe this time could be ‘optimised’ to find the best H1 candle close? This is the SIGNAL candle.
    • 1. If price candle touches MA (even wicks) then look at high or low of signal candle that closes at 0659hrs. Set ‘one cancels the other’ orders for the next .00 levels above/below the signal candle. So if high is 1.0675 and low is 1.0665 then buy would be at 1.0680 and sell at 1.0660. Take profits is 10 pips; stop 1x ATR(24)
    • 2. If price is above the MA then only trade long BUT only above the highest high of the past 24 hrs (another variable here to alter/optimise). So, if signal candle is the high of past 24hrs then we set order to buy 1 pip above that candle high. Stop is 1xATR with take profits of 1.5x ATR
    • 3. If price is below the MA then only trade short BUT only below the lowest low of the past 24 hrs (another variable here to alter/optimise). So, if signal candle is the low of past 24hrs then we set order to sell 1 pip below that candle low. Stop is 1xATR with take profits of 1.5x ATR
    • If the trend trading (ie above/below MA) and there is a previous 24hr swing high/low then we set the buy/sell orders 1 pip above that level.
    • Money Management = trade size of 2% account balance divided by ATR(24).
    • If trade wins/loses – that’s it for the day. Close down PC and come back tomorrow and start again.
    • If trade doesn’t activate after 23hrs then orders are cancelled and we start again at 0700hrs.

    That’s it!

    I have some experience of PRT coding but I can’t fathom the ‘time’ element (ie only set orders at 0700 local, and keep live for 23hrs). The other tricky part of the code is the price orders above/below lowest/highest swing of past 24hrs or the next .00 level if the signal candle is touching the MA.

    This system shows a 2/1 win loss ratio but the addition of the ATR TP means winners are always more profitable that losers.

    I have attached a sample chart from MT4. The ‘signal’ candle is marked with lines.

     

    Thanks in advance!

    05/06/2017 at 10:58 AM #34677
    Elsborgtrading

    Hi so just to get it right, the challange is to code the opening of a trade @ 07:00 and close all trades after 23:00. Can you post what you got until now? The time is easy to solve

    05/06/2017 at 11:11 AM #34679
    GraHal

    Hi Grim, looks good!

    Do you have your Algo in MT4 code? If Yes, why not add it here using the Insert PRT Code button? This will make it easier for the skilled coders on here to help you?

    GraHal

    05/06/2017 at 12:19 PM #34692
    grimweasel47

    Hi Both,

     

    Sadly I don’t have the Mt4 code as the coder locked it. I will ask him for it so we can modify using PRT.

    Elsborg – the ‘signal’ candle closes at 0659:59hrs. The trade is then initiated at 0700 depending on the MA position and the highs/lows of the signal candle. Some days the trade is initiated and closed within minutes; other days, price chops around and the trade initiates later in the US session. For the system profitability, we must allow orders to remain in the market until 0600 the next day, where upon they are cancelled as we await the new trading day and signal candle.

    Thanks in advance guys

    05/06/2017 at 6:07 PM #34727
    Elsborgtrading

    Just from briefly reading the rules for the trades it sounds similar to this strategy ?

    Cheers Kasper

    05/06/2017 at 9:33 PM #34729
    grimweasel47

    Hi Kasper – thanks for that. I’d not seen that system. I guess is could be similar but that is using the Daily chart. We are using an H1 candle in this system. It’s effectively a scalping system with more rigid rules in my opinion. For me, it’s less about the backtesting; I have been trading this live and know it works. I just want to automate it as work often prevents me from being at a PC screen for 0700 each morning!

     

    Regards

    Dan

    05/07/2017 at 12:53 PM #34757
    Maz

    Hi all. Will take a look when I get  a moment, leave it with me if you like

    5 users thanked author for this post.
    avatar Francesco78, avatar grimweasel47, avatar Eric, avatar Henrik, avatar Elsborgtrading
    05/07/2017 at 5:35 PM #34779
    Elsborgtrading

    Hi Grim, the strategy uses 1H time frame and places 2 orders(one long and one short)  at 22:00, calculated from the past 4H lowest and highest x 0.4- which ever orders get filled within 22:00-24:00 runs until 10:00 the next day.

    I just thought it could help you in the coding

    05/07/2017 at 5:43 PM #34780
    Eric

    “only above the highest high of the past 24 hrs ”

    how many setups (trades) do you get with this filter? per week, month?

    05/08/2017 at 10:46 AM #34811
    grimweasel47

    Hi Eric

    The MA and highest high/lowest low prevents fake outs and losing trades. On EurUsd for example over the past few months (since Jan 31st) the system has delivered 37 wins, 18 losses and 14 no trades. With the wins being 1.5ATR and losses limited to 1ATR the profit curve is upward.

    05/08/2017 at 6:20 PM #34849
    Eric

    looks interesting

    lets see what Maz can do with it?

     

     

    05/09/2017 at 2:51 PM #34948
    grimweasel47

    Another profitable day with this strategy today!

    05/12/2017 at 10:10 PM #35376
    grimweasel47

    Hey Maz. Any luck with the code for this system yet? Thanks

    05/19/2017 at 2:17 PM #36104
    Maz

    Hi @grimweasel47 – I have some time to take a look as promised. Some clarifications please if you wouldn’t mind…

    Question: When you quote ATR above in your set of rules, are you referring to ATR-hourly or ATR daily? I would assume hourly as your period is 24 – but then could be daily too as that’s roughly a month.

    Question: With regard to rule #1 – if which candle touches MA? Signal or the following price action? When is it invalidated? What if the 8am doesn’t touch MA, nor break signal tunnel, but 9am does touch MA?

    To my mind, you actually have 3 seperate systems here.

    System 1: Breaks of a 7am period tunnel beyond psychological 00 levels, only if somthing touches some kind of MA

    System 2: Upward breaks of the signal candle if it’s the 24-hour high. Subsequently downward breaks of the signal candle if it’s the 24 hour low

    System 3: 24-hour tunnel breaks.

    Is there any reason why these 3 should be put together into one bot?

    Best,

    M

     

    05/19/2017 at 3:37 PM #36113
    Maz

    Attached, visualization of 1 hour tunnel (7-8am BST) against moving average (pink) EMA[20] H1 = roughly EMA[850] M1

    Posting this to give visual representation of setups.

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