Trading system: wick system 1.00
Type: trend and ranged
Timeframe: M1 - D1. In this example we take the H1 chart.
Entry:
- when: in the H1 chart buy or sell on every candle (this means, every hour you will open an order at exactly close of previous candle).
- buy: if lower wick of previous candle is bigger than the upper wick.
- sell: if lower wick of previous candle is smaller than the upper wick.
- TP/SL: 50 pips
Statistics:
If statistics say that wicks determine direction, this trading system should be profitable. I ask the readers of this thread to test this theory.
What do you think: will this system be profitable?
______________________
Discuss test case:
______________________
1. (stated by Tzamo) Find out if the wicks and candles are relative in the different timeframes of a particular symbol. (For example (Random numbers) in the H1, the candle bodies range from 100 to 200 units and the wicks are 40 to 80 units. While in the 15 min, the candle bodies are 25 to 50 units and the wicks are 10 to 20 units. If that is true, then the candle bodies are relative to the wicks and to run the EA on the other time frame just need to adjust the bodies/ wick limits.)
-- test case: select several different situations withing the symbol, like: 10 events of steep up trends, 10 events of steep down trends, 20 events of ranging, events with lots of spikes... and so on and then run the EA on each of those and see if it passes.
2.
3.
4.
5. [let's discuss and add more ideas]
Type: trend and ranged
Timeframe: M1 - D1. In this example we take the H1 chart.
Entry:
- when: in the H1 chart buy or sell on every candle (this means, every hour you will open an order at exactly close of previous candle).
- buy: if lower wick of previous candle is bigger than the upper wick.
- sell: if lower wick of previous candle is smaller than the upper wick.
- TP/SL: 50 pips
Statistics:
If statistics say that wicks determine direction, this trading system should be profitable. I ask the readers of this thread to test this theory.
What do you think: will this system be profitable?
______________________
Discuss test case:
______________________
1. (stated by Tzamo) Find out if the wicks and candles are relative in the different timeframes of a particular symbol. (For example (Random numbers) in the H1, the candle bodies range from 100 to 200 units and the wicks are 40 to 80 units. While in the 15 min, the candle bodies are 25 to 50 units and the wicks are 10 to 20 units. If that is true, then the candle bodies are relative to the wicks and to run the EA on the other time frame just need to adjust the bodies/ wick limits.)
-- test case: select several different situations withing the symbol, like: 10 events of steep up trends, 10 events of steep down trends, 20 events of ranging, events with lots of spikes... and so on and then run the EA on each of those and see if it passes.
2.
3.
4.
5. [let's discuss and add more ideas]
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