//@version=2 // simple cross of daily candle close // strategy("DailyCandleCross", shorttitle="DCC", overlay=true, calc_on_order_fills= true, calc_on_every_tick=true, default_qty_type=strategy.percent_of_equity, default_qty_value=75, pyramiding=0) A=security(tickerid, 'D', close) B=security(tickerid, 'D', close) C=A>B if(C) strategy.entry("Long", strategy.long) if(not C) strategy.entry("Short", strategy.short)
when daily candle closes, it has a value, lets say 0.7015
during the next candle (day), the program compares the current price value to the previous close value.
If the current price is lower (0.7014), it will decide on SELL, if price higher (0.7016), then BUY.
this one works the same way, but is better.
the reason that one is better is because it does maths with the values.
it divides the value down into a fraction value, which makes less crossings as price wiggles past crossing value, so less repainting, it also has HullMA cross added to its thinking.
and also with that one you can set a StopLoss amount, and therefore see a more real performance in the report.
Yes it repaints, they all repaint. which means if you reload the page after price has gone back through decision threshold then it might "repaint" the signals.
refreshing the page will show perhaps signal change.
So, basically, if its wrong, and the page is refreshed, its wrong signal will disappear.
therefore the report showing 93% Percent Profitable is not correct for this strategy. you will get traderage when you follow its signal but it takes it back when its wrong.
fair enough too, i understand the newB traderage when loss happens due to Noobness. I do not recommend following this strategy signals blindly, but it is a great tool.
I am not too worried about repaint, as I made this strategy into an Expert Adviser for MetaTrader4 (automated trading robot). It does great, the actual profit percent is 60 - 70 %
(results: average monthly profit 50% of equity (SETTINGS: position_size=10%, TP=420 SL=33 Trail_SL=20 (pip)))
download it here for free http://ss420fx.blogspot.co.nz (Decision-Threshold EA)
Why do you think the purchase or sale indicator appears on some occasions and then disappears? sometimes even in aparce time you back even if I have monitored minute by minute which no longer gives me a valid entry has been a long time since.
another question, can I apply this code to EUR / USD and in what time frame do you think works best.
thanks for your answers
If you refresh page, the signal will re-calculate.
it simply looks at daily candle close value, and the previous daily candle close value
and if current price greater than previous candle price, then it signal buy, reverse is sell.
I have attempted to make non-repainting versions, but it just piles the signals on top of each other whenever the cross happens.
So, refresh page, if you think the price may have gone back across the Decision threshold.
I have made this strategy into a profitable EA for MT4 (trading robot) and I just tell it to have a SL of 33 pip and a trailing stop of 20 pip.
So sometimes the price dances around the decision threshold, crossing back and fourth, but once position is open, it closes by TP or trailing SL or hitting SL and then makes new decision by then price likely away from decision threshold. today i make new version of this, with daily candle values division by some large number before cross calculated so the value becomes very small and less likely for price to cross threshold.
Yes, it works on all FOREX pairs. timeframe 1H or 15M seemed best results.