32 points strategy - breakout with sell/ buy stop

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Martin
  • updated
  • Completed

This idea I have found in the education area of Roboforex.

When I go back thru the D1 chart it seems that the strategy is working good.


Example:

In order to place pending orders the closing price of the previous day will be used. From this price the EA should place pending orders: BUY STOP and SELL STOP at the distance of 32 pips.

The level of Take Profit: 35 pips.

The level of Stop Loss: 28 pips. 

Example of placing a pending order

For example, the price of the previous day was 1.1516.

The level of BUY STOP will be calculated as follows: closing price of 1.1516 + 32 pips = 1.1548

The level of SELL STOP will be calculated as follows: closing price of 1.1516 - 32 pips = 1.1484

The pending order should be placed with beginning of new day candle. If none of the orders have been activated within a day, pending orders will be cancelled at end of day candle


Image 1404


To make the strategy more flexible the distance of the pending orders, TP and SL should be indivual set able.

Replies 11
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1
jiayao zhou
Quote from Martin

CP test strat32.set

I will test different settings and additional filters to reduce fail breakouts.

Maybe the idea more usable for general commission with a cash back reward 😉


good job

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0
Andrey Khatimlianskyi
Quote from Hannes Waser

How does it look like using martingale scaling if a trade was not successful? :)

Who is your question addressed to?

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Andrey Khatimlianskyi
Quote from Sai Pratap

Any idea how to cancel the other pending bid on activation of bid in one direction?

Sai, try to play with opposite closing signal or with Pending cancelation distance.

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Hannes Waser

How does it look like using martingale scaling if a trade was not successful? :)

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0
Sai Pratap
Quote from Martin

CP test strat32.set

I will test different settings and additional filters to reduce fail breakouts.

Maybe the idea more usable for general commission with a cash back reward 😉


Any idea how to cancel the other pending bid on activation of bid in one direction?

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Andrey Khatimlianskyi
  • Completed

Great )

One more strategy in portfolio

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0
Martin

CP test strat32.set

I will test different settings and additional filters to reduce fail breakouts.

Maybe the idea more usable for general commission with a cash back reward 😉


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0
Martin
Quote from Andrey Khatimlianskyi

Play with Pending entry and Time schedule on D1 TF.

I guess you already can trade this strategy with CP.

You are right, with the simple signal TF D1, deals on new bar und the pending setting I can setup this idea easily. The working time isn't needed. Cause of the fix SL and TP they is a big up and down in the profit chart. Fake breakouts have a big influence on this simple idea.

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Andrey Khatimlianskyi
  • Under review

Play with Pending entry and Time schedule on D1 TF.

I guess you already can trade this strategy with CP.

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0
Martin
Quote from Kunta Kinte

I like this idea! :)

I would suggest to make it a bit more free to configure and also link the breakout settings to the newstrading options.


New Inputs could be as follows:


Bars to calculate: "number of bars to calculate High-Low or Open-Close in that period OR use the last bar's close price if set to 0 "

Timeframe: "Timeframe used for the bars calulation"

Applied Price: "High-Low / Open-Close"    // will only be used if Bars to calculate is not 0

Distance calc mode: "points / Coefficient to Volatility"

Distance to Order: "Distance the pending Orders will be placed"

TP and SL could be set with Global TP/SL
 

This way it could be used for the 32 points Strategy as well as for Market open breakouts and for News Breakouts.

For News Breakout the Inputs "Trade during News only" and "minutes before" would then trigger this breakout settings.

You are right, the idea could be used for many cases/ scenarios. But it could be difficult that both stops will be activated during high Vola before news. When Andrey will give us the possibility it can be tested 😉.