I have spent some time theorizing this strategy and now its time to see if the theory has any practical use. I am attaching a document that contains the strategy with the theory behind it. My hope is that others will be able to generate ideas on the best way to implement the strategy.
Due to the fact that I'm not a programmer, I am going to rely on the generosity of those who are willing to provide their programming skills to the cause. In order to get things rolling, I am hoping that someone will be able to understand the basic gist of the strategy and code an EA which we can use as a foundation.
Here is what I see as the key components (See attached document for further explanation):
1.) Determining where to set pending orders (1 set of orders at a time)
a) Get the current price and set pending orders accordingly
b) Use support and resistance and set orders once these levels are hit
2.) Take profit and Stop Loss
a) The mFactor must be greater than the rate
3.) Position Sizing
a) Modified martingale approach
4.) Filter used to determine appropriate buy size and sell size
I know that there will be many questions regarding the idea so please don't hesitate to post your questions here. I will do my best to answer them in a timely fashion.
I want to extend my gratitude to those of you who take the time to further investigate my idea.
Due to the fact that I'm not a programmer, I am going to rely on the generosity of those who are willing to provide their programming skills to the cause. In order to get things rolling, I am hoping that someone will be able to understand the basic gist of the strategy and code an EA which we can use as a foundation.
Here is what I see as the key components (See attached document for further explanation):
1.) Determining where to set pending orders (1 set of orders at a time)
a) Get the current price and set pending orders accordingly
b) Use support and resistance and set orders once these levels are hit
2.) Take profit and Stop Loss
a) The mFactor must be greater than the rate
3.) Position Sizing
a) Modified martingale approach
4.) Filter used to determine appropriate buy size and sell size
I know that there will be many questions regarding the idea so please don't hesitate to post your questions here. I will do my best to answer them in a timely fashion.
I want to extend my gratitude to those of you who take the time to further investigate my idea.
Attached File(s)
Blue Strategy Further Explanation.pdf
243 KB
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526 downloads