Scalping strategy, what do you think about it?

Cameron · Fri, 30 Jun 2017 12:27:40 +0000

Hi all. I have built a simply scalping strategy that works pretty well (have been live trading for around 6 months.) It works of the 1 and 5 minute charts and does really well on the GBPUSD, AUDUSD AND EURUSD (does work well on any yen pair). Now the strategy risks 20 pips to make a profit of 4 but is highly, highly consistent. That being said, I am a terrible coder so I thought I would throw it out to the community to discuss how we can best optimise the risk to reward ratio. I also think it would be great if anyone knows how to hedge a losing position at say 10 pips down then when another buy is triggered remove the hedge and add an additional position. I also need it to kill positions for me a couple of hours before NY closes on Friday and not open until 4 hours after the market opens in the Asian session on Monday. I am open to any thoughts at all to be honest so if you have one, please lets open some discussion. Below is the indicator first, then the code. I would be really interested to hear what people think Indicator REM Calculation of Bollinger oscillator delta = CLOSE - BOLLINGERDOWN width = 4.7 * STD BBO = delta * 100 / width RETURN BBO AS"Bollinger Band Oscillator" Script // Definition of code parameters DEFPARAM CumulateOrders = True // Cumulating positions deactivated // Conditions to enter long positions indicator1 = CALL bolcam(close) c1 = (indicator1 < 0) indicator2 = RSI[13](close) c2 = (indicator2 < 25) indicator3 = RSI[13](close) indicator4 = BollingerDown[20](RSI[13](close)) c3 = (indicator3 < indicator4[1]) indicator5 = RSI[13](close) indicator6 = BollingerDown[20](RSI[13](close)) c4 = (indicator5 CROSSES OVER indicator6) IF c1 AND c2 AND c3 AND c4 THEN BUY 1 CONTRACT AT MARKET ENDIF // Stops and targets SET STOP pLOSS 20 SET TARGET pPROFIT 4

This topic has 21 replies, 6 voices, and was last updated 6 years ago by Cameron.

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07/03/2017 at 11:49 PM #39740

Cameron

sorry guys just worked out how to do it 🙂

Cameron

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07/04/2017 at 8:58 PM #39822

T-rader

Hey man!

I don´t know if it´s IG australia that have so few days in 100´000 bars or what it is but this is how it looks to me with a little bit longer test frame. and 0.6p spread.

T-rader

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07/04/2017 at 11:38 PM #39832

Cameron

Hi T-man, Thanks heaps for that……. I was hoping that it would do a little better but thems the breaks. Think I will try some tweaks and again appreciate your help.

Cameron

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07/05/2017 at 2:07 PM #39883

T-rader

No worries mate. FYI you can´t have a 4p stop in Eur/usd. 5p is minimum.

Beware – extremely over-optimized code

// Definition of code parameters
DEFPARAM CumulateOrders = True // Cumulating positions deactivated
// Conditions to enter long positions

indicator10 = Average[200](close)
indicator22 = Average[100](close)
c10 = (indicator10 > indicator22[1])

indicator1 = CALL bolcam(close)
c1 = (indicator1 < 0)
indicator2 = RSI[14](close)
c2 = (indicator2 < 45)
indicator3 = RSI[18](close)
indicator4 = BollingerDown[50](RSI[18](close))
c3 = (indicator3 < indicator4[1])
indicator5 = RSI[20](close)
indicator6 = BollingerDown[10](RSI[20](close))
c4 = (indicator5 CROSSES OVER indicator6)
 
IF c10 and c1 AND c2 AND c3 AND c4 THEN
BUY 1 CONTRACT AT MARKET
ENDIF
 
// Stops and targets
SET STOP pLOSS 20
SET TARGET pPROFIT 10

// Definition of code parameters

DEFPARAM CumulateOrders = True // Cumulating positions deactivated

// Conditions to enter long positions

indicator10 = Average[200](close)

indicator22 = Average[100](close)

c10 = (indicator10 > indicator22[1])

indicator1 = CALL bolcam(close)

c1 = (indicator1 < 0)

indicator2 = RSI[14](close)

c2 = (indicator2 < 45)

indicator3 = RSI[18](close)

indicator4 = BollingerDown[50](RSI[18](close))

c3 = (indicator3 < indicator4[1])

indicator5 = RSI[20](close)

indicator6 = BollingerDown[10](RSI[20](close))

c4 = (indicator5 CROSSES OVER indicator6)

IF c10 and c1 AND c2 AND c3 AND c4 THEN

BUY 1 CONTRACT AT MARKET

ENDIF

// Stops and targets

SET STOP pLOSS 20

SET TARGET pPROFIT 10

T-rader

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07/05/2017 at 5:02 PM #39896

JR1976

HI Guys,

IT’s seems working well , but will be interesting to test before april , when EUR/USD is in bearish trend … ?

JR1976

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07/07/2017 at 4:00 AM #39981

victormork

Just a quick add to this: should the cumulated orders be set on true and not false?

victormork

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07/07/2017 at 7:14 AM #39983

Cameron

Hi. Yes it seems to perform better (at least when I have ran it live) with it set to true

Cameron

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