Classic Channel Breakout

Its a simple n-period new high/low system. Trigger is making a
new High/Low and hold until significant reversals are evident.

AmiBroker Script:



// #########################
// Author Thomas Heyen
// ER2 - 1min Chart Setup
// #########################


MArkethours = TimeNum()>=133000 AND TimeNum()<=154400;
MarketClose= TimeNum()>=154444 AND TimeNum()<=240000;
PositionSize = MarginDeposit = 1;


P = Optimize("Periods",240,120,365,10); // 240 is perfect
edge = Optimize("Edge",-70,-90,55,10); // -70 is best against my first guess

topband = HHV(C,P);
botband = LLV(C,P);

pos = (C-botband)/(topband-botband)*200-100;


Buy = MArkethours AND Cross(pos,95);
Sell = MArketclose OR Cross(edge,pos);

Short = MArkethours AND Cross(-95,pos);
Cover = MArketclose OR Cross(pos,-edge);

Plot(pos,"channel",IIf(barssince(buy)<barssince(sell),colorgreen,IIf(barssince(short)<barssince(cover),colorRed,colorGrey40)),styleArea);


// ##########################
// Script End
// ##########################


I did include double Spread slippage ($20 per trade for ER2)
and commission $2.50 for IB per trade. ($45 both ways)
I end up with about 20-30% annual profit for the last 30 months
measured at a 10K Budget with single contract trading.
Without Slippage or only single spread slippage this improves greately.
This all shows that proper MM and position scaling will also improve the performance.

Note that trading starts in the afternoon!
So it will perfectly combine with your morning trading.

The 240 min (4 h's) period aligns perfectly with the 13:30 trading start
to react to intraday new highs/lows.

 


Attached Files:

Posted By dianeclark : 11 August, 2020
Related Article

I want to thank the members of this forum for their great ideas and the materials that is laid out here! With you I managed to make highly profitable system! On the examples you see indicators that are already posted here, so spread the system will not!I wish you all good luck!PS. Sorry for my English ...      

Time Frame 15min, 30min and 60min.Pairs:all.Indicators:Ratis Filter,Direction,Ribbon,SDZ TZ PivotsLong Entry:Arrow green Direction confirmed by:De-Muniuk Green,Ribbon green.Short Entry:Arrow red Direction confirmated by:De-Muniuk Red,Ribbon Red.Exit Position:When arrows change colour or exit position on pivot level.    

The MACD is an abbreviation for the moving average convergence/divergence technical trading indicator and is used in technical analysis to filter the trends, swings, and momentum of price action. It is designed to reveal changes in price strength, direction, momentum, and duration for the moves of trends and swings. The MACD is a simple visual momentum indicator. The MACD takes two stand alone moving averages that are used as trend indicators and creates a momentum oscillator by subtracting the longer term moving average from the shorter term moving average. The formula used creates the MACD from the formula and is a dual indicator for both identifying trends and the magnitude of current momentum.  The MACD crossover can show you five things when the signal line crosses back over the slower line after being under it: The MACD crossover can show you that a short term swing higher in price could be beginning.  The MACD crossover can show you that a long term trend higher in price could be beginning. The MACD crossover can show you that a previous downtrend that was in place is ending.  The MACD crossover can show you that a downtrend has ended and the market is now going sideways.  The MACD crossover can show you that the momentum for a downtrend is over and the market may now start moving both up and down in a trading range.  The inverse is true for the MACD cross under when the signal line crosses under the slower line after being over it.     


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