Topic: Can FSB build Only Price Based Trading/ No Indicators Systems

Can FSB build/create price based only trading systems, no indicators at all. Or will there need to be coding. For example.

If someone wanted to start trading at 2:00am in the morning on a certain currency. Than when price breaks the previous closed bar by 1 pip for an entry, and the stop loss is 1 pip on the other side of that same previous closed bar that was used for our entry.

The exits beside the stop loss, would be a trailing stop 1 maybe 2 times our distance from entry to our stop loss. Another exit opened at the same time would be a take profit which is 3 times our stop loss distance which is from entry price to our stop loss price. Also another exit opened at the same time is a $100.00 dollar amount if reached.

If our stop loss is hit another trade would be immediately opened but in the opposite direction. And all the same exits would be used as was used in the first trade we opened.

Can this all be built by your ea builder. Thanks Much

This would be for a buy or sell.

Re: Can FSB build Only Price Based Trading/ No Indicators Systems

Most of these trading rules can be implemented by using custom indicators. However, Forex Strategy Builder is not the best choice in that case. You can try with NinjaTrader where you can set different rules on menus without programming.

The main issue is why do you want to make exactly that system? Where this system is backtested or traded successfully? If you don't have proves that a system works, probably it doesn't deserve the time and efforts to make and test it. Forex Strategy Builder is designed to allow very fast setting of different indicators and rules and monitoring the results in real time. You can do it even without a particular idea.

Another option is to run the Generator on a preset account and market. When it find a strategy that looks promising, you can play with the rules to make it even better. Finally, you have to test it on a demo or on a real account with minimum lots.

You can create hundreds of strategies for FSB Pro and you don't need to spend more than 1-2 hours for a particular one. If it doesn't work, just throw it away.

Re: Can FSB build Only Price Based Trading/ No Indicators Systems

[Opening Point of the Position]
     Previous High Low
     Enter long at the previous high
     Base price  -  High and Low
     Vertical shift  -  10

[Opening Logic Condition]
     Entry Time
     Enter the market between the specified hours
     From hour (incl.)  -  2
     From min (incl.)  -  0
     Until hour (excl.)  -  24
     Until min( excl.)  -  0

You have to get creative with closing options, plenty to choose from in FSB, take your pic which one is the closest to your needs.

Re: Can FSB build Only Price Based Trading/ No Indicators Systems

I have read about strategy generators that come up with trading systems based on a traders parameters and how the trading strategies that are created by software do not stay viable/profitable.

Indicator based trading systems are really not the best systems. Pure price based trading, finding price patterns are the best.

Re: Can FSB build Only Price Based Trading/ No Indicators Systems

You know, you are making global assumptions without having the knowledge to do so.

Trading is arithmetic and once you take the fancy name off an indicator you are left with arithmetic, the exact same arithmetic that is used to compute so called 'price action' which is calculated using arithmetic.

The 'name' of an indicator is based on a formula, just as is the name of a price bar based on a formula.

What you have read, may or may not be interpreted properly.

Therer are very few strategies created in the world which do not have to be tuned up on a regular basis, it is part of the business.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....