AQW1

Trading Logic: My strategy is based on price action based trading methodology. It uses GBPJPY pair. It uses EMA (exponential moving average) of 2,4,6,8 and 10 with time period of 10 seconds with shift 1 to gauge the price action. Trading decision is triggered with a completed 5 minute candle occurring between 1 and 8 GMT hours on Monday to Thursday. 5 minute candle's open and close is analysed to determine whether it is a BULLISH/BEARISH candle. I BUY when 5 minute candle's open > close confirming BULLISH bias with it satisfying the conditions of EMA 2> EMA 4 > EMA 6 > EMA 8 > EMA 10 which confirm BULLISH trend. I SELL when 5 minute candle's close > open confirming BEARISH bias with it satisfying the conditions of EMA 2 < EMA 4 < EMA 6 < EMA 8 < EMA 10 which confirm BEARISH trend. Description of indicators: I have used many customized indicators. I will describe them one by one. I started with a customized time based indicator. I wanted my trades to be opened only during 1 GMT and 8 GMT hours on Monday-Thursday. Using LAST ASK CANDLE's Candle Time in GETTIMEUNIT function, I have fetched day of week and hour in variables named - dayoftheweek and hour. Using dayoftheweek less than or equal to 5 helped in excluding Friday's trading day. hour variable was set as greater than or equal to 1 - along with - less than or equal to 8. So, trading was set during 1 GMT and 8 GMT hours. In my strategy, I have used 5 minute candle's open and close along with EMAs of 2,4,6,8 and 10. Shift 1 is used for both 5 minute candle and EMAs. I needed to determine bullish and bearish candles. So, I used Close > Open for Bullish candles and Open > Close for Bearish candles. I have already explained BUY/SELL logic in trading logic section. Explanation of chosen setting: Lot size = 7 lots, Slippage = 5 pips, 100 pips is set as Stop Loss and 6 pips is set as Take Profit. Method of trade volume calculation: Not used. Changes in Version 2 - Trading Logic and Description of Indicators : I have added a new strategy and also retained the earlier described old strategy from Version 1.This new additional strategy works Monday to Thursday during 9 to 11 GMT hours. It uses RSI oscillator to gauge OverBought / OverSold conditions. RSI(14) on 1 hour time period with shift 1 is used. I BUY when RSI < 30. I SELL when RSI > 70. Explanation of chosen setting: Lot size = 25 lots, Slippage = 5 pips, 200 pips is set as Stop Loss and 350 pips is set as Take Profit. Method of trade volume calculation: Not used.
Version: Date: Status: Description:
2 20.12.2017 Not running AQW1  Download
1 01.11.2017 Executed AQW1  Download
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