1 (edited by trendrider207 2009-04-20 11:49:26)

Topic: how to set up this strategy

The logic is first looking at 4 hr for the main trend, but I will not trade in the 4hr chart. If 4hr. chart is trending up, then I will only be looking to go long on the 15 minute chart. On the other hand, if my 4hr. chart is trending down, then I will only be looking to go short on the 15 minute chart.

4hr. Chart Settings:
·    5 EMA applied to the close
·    10 EMA applied to the close
·    Stochastics (10,3,3) (Use slow and simple settings)
·    RSI (9) (Simple)

After establishing the main trend , then look for trade entries on the 15 minute chart. The 15 minute chart looks similar to the 4hr. chart, except for the fact that have added a MACD histogram. The trade entry rules are :
15 Minute Chart Settings:
·    5 EMA applied to the close
·    10 EMA applied to the close
·    Stochastics (10,3,3) (slow and simple settings)
·    RSI (9) (Simple)
·    MACD (12,26,9) (Exponential histogram)
Long trades:
·    5 EMA must cross above the 10 EMA 
·    RSI must be greater than 50
·    Stochastics must be headed up and not in overbought territory
·    MACD histogram must go from negative to positive OR be negative and start to increase value.

Short trades:
·    5 EMA must cross below the 10 EMA
·    RSI must be less than 50
·    Stochastics must be headed down and not in oversold territory
·    MACD histogram must go from positive to negative OR be positive and start to decrease in value.

Stop loss for long trades:
the lowest point in the last 2 hours

Stop loss for short trades:
The highest point in the last 2 hours

Re: how to set up this strategy

Btw, could anyone tell me how to retrieve live data from MT4 or other trading platform?? As this strategy is trading breakout and so I have to use live data instead of importing historical data everytime. Thanks a lot~

Re: how to set up this strategy

·    5 EMA must cross above the 10 EMA

[Opening Logic Condition]
Moving Averages Crossover
     The Fast MA crosses the Slow MA upward
     Base price  -  Close
     Fast MA method  -  Exponential
     Slow MA method  -  Exponential
     Fast MA period  -  5
     Slow MA period  -  10
     Fast MA shift  -  0
     Slow MA shift  -  0
     Use previous bar value  -  Yes


RSI must be greater than 50

[Opening Logic Condition]
RSI
     The RSI is higher than the Level line
     Smoothing method  -  Simple
     Base price  -  Close
     Smoothing period  -  9
     Level  -  50
     Use previous bar value  -  Yes

Stochastics must be headed up and not in overbought territory

[Opening Logic Condition]
Stochastics
     The Slow %D rises
     Smoothing method  -  Simple
     %K period  -  10
     Fast %D period  -  3
     Slow %D period  -  3
     Level  -  20
     Use previous bar value  -  Yes

[Opening Logic Condition]
Stochastics
     The Slow %D is lower than the Level line
     Smoothing method  -  Simple
     %K period  -  10
     Fast %D period  -  3
     Slow %D period  -  3
     Level  -  70
     Use previous bar value  -  Yes

MACD histogram must go from negative to positive


[Opening Logic Condition]
MACD Histogram
     The MACD histogram crosses the Level line upward
     Smoothing method  -  Exponential
     Base price  -  Close
     Signal line method  -  Simple
     Slow MA period  -  26
     Fast MA period  -  12
     Signal line period  -  9
     Level  -  0.0000
     Use previous bar value  -  Yes

MACD histogram ... OR be negative and start to increase value.

[Opening Logic Condition]
MACD Histogram
     The MACD histogram is lower than the Level line
     Smoothing method  -  Exponential
     Base price  -  Close
     Signal line method  -  Simple
     Slow MA period  -  26
     Fast MA period  -  12
     Signal line period  -  9
     Level  -  0.0000
     Use previous bar value  -  Yes

[Opening Logic Condition]
MACD Histogram
     The MACD histogram changes its direction upward
     Smoothing method  -  Exponential
     Base price  -  Close
     Signal line method  -  Simple
     Slow MA period  -  26
     Fast MA period  -  12
     Signal line period  -  9
     Level  -  0.0000
     Use previous bar value  -  Yes


Short trades:

FSB will make them automatically.

Btw, could anyone tell me how to retrieve live data from MT4

We'll provide automatic strategy trader linked to Metatrader till the end of the year.

Re: how to set up this strategy

Thanks heaps for the great help Popov~
Do I need to set up the 4hr as well ??coz this system needs to look at the 4hr first in order to find out the main trend and 15mins should be aligned the same trend with 4hr

Re: how to set up this strategy

trendrider207 wrote:

Do I need to set up the 4hr as well ??coz this system needs to look at the 4hr first in order to find out the main trend and 15mins should be aligned the same trend with 4hr

Unfortunately FSB cannot load more than one time frame at same time.

You can use a longer indicator on the 15min frame to catch the 4hour trend instead.
Eg. MA21 on 4h chart is something like MA84 on a 15min chart.

Re: how to set up this strategy

Popov wrote:
trendrider207 wrote:

Do I need to set up the 4hr as well ??coz this system needs to look at the 4hr first in order to find out the main trend and 15mins should be aligned the same trend with 4hr

Unfortunately FSB cannot load more than one time frame at same time.

You can use a longer indicator on the 15min frame to catch the 4hour trend instead.
Eg. MA21 on 4h chart is something like MA84 on a 15min chart.


thanks Popov,
I just had a problem that I cannot add anymore opening logic conditions after I added 4 conditions, is there any way that I can add more conditions on my strategy?

Re: how to set up this strategy

trendrider207 wrote:

is there any way that I can add more conditions on my strategy?

Officially speaking - no. Anyway, you can edit the config file of the newest FSB beta and to change the max number of the opening logic conditions (MAXENTRYFILTERS).

Re: how to set up this strategy

Popov wrote:
trendrider207 wrote:

is there any way that I can add more conditions on my strategy?

Officially speaking - no. Anyway, you can edit the config file of the newest FSB beta and to change the max number of the opening logic conditions (MAXENTRYFILTERS).

Thanks Popov,
I've download the newest FSb beta and input all the opening logic conditions as you taught, but I found that the account statistics remains unchange and nothing was being updated when all the conditions were added. Could you please kindly tell me why was that happen?