FIBO on each pinbar

lisamitch50 · Sat, 07 Nov 2020 08:23:58 +0000

Morning all, hope this “Virus” hasnt dampened your trading… I am in the middle of trying to transition from manual trader to automated, as i feel that my strategy can be automated and would stop me from either taking dubious trades, or not taking trades due to my own mind, plus its killing me getting up at all hours to take a trade. Currently i am averaging around 72% win rate manually, and with backtesting i am missing out on around 7-12 trades a month, some win and some loose, but all would add to my RR ratio. For example on EUR/USD in Jan 2020, my RR was +21, with +178.1 points gained and 10 wins – 4 losses. So im looking for a little help, i dont want to go straight into the “Pay someone to code it for me” yet!! i want to make sure that it can be coded the way i trade, so if its ok with you guys (Gurus) my strategy is as below. No code as i cant code (Even though it looks straightforward, i am not at all confident that i would be able to code the strategy while trading it… Any and all comments welcome. So: 1hr chart (Pick an instrument to trade, works on most) i trade DAX and EUR/USD Pin bar reversal with conditions – Pin bar MUST close above or below the previous candle. See pic (Colour of the candle doesnt matter) The body of the candle MUST be within (above) the 61.8Fib. See pic Enter (En) long or short when price breaches the low or high (100% point on FIB) Stop (SL) is 10 points above the high or low of the pinbar candle (See pic) and is 1% of total trade account Take Profit (Tp) is in sections – a. 75% is taken at the 200% Fib point and SL moved to 50% Fib, b. remaining runs to 300% Fib where 75% of the remaining amount is taken and SL is moved to BE, c. Any remaining is taken at 400% Fib. See the annotated screen shot which should be attached. As i draw the FIB manually i would need this drawn automatically on the correct type of Pin Bar (To my criteria) and be able to change that (As i have played about with only taking pin bars which close above 76.4 Fib), and the Entry, Stop, and movement of SL as well as the TP be all auto… Is this possible? Please feel free to manually backtest this strategy, however i am getting very tired from setting alarms on the PC and getting up at all hours, automation would make it all so easy. Many thanks guys, and any and all help would be very much appreciated.

This topic has 45 replies, 5 voices, and was last updated 3 years ago by lisamitch50.

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11/29/2021 at 9:04 PM #182504

lisamitch50

Sup all..

Well well – Loads happened.

The “Virus” eh!! That seemed to bugger up everything and i have been away at work for all this time.

Secondly, made a shed load on OIL with my FIBO manual – just wish i could get it automated.

Has anyone had any luck! #Grahal has been super and im sure has backtested the shiznot out of it and found that the 1hr OIL FIBO is worth it.

Anyone have any updates?

Mitch

lisamitch50
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