Test formation is extremely scalable and logically sound position entry signal. It confirms trend by clearly revealing market mechanic of money making maneuver – the test. To even further improve test formation entry accuracy, trend is identified by doubled MACD forex indicator.
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Entry is taken only in the direction of long and minor term trend. This expert has a lot of adjustable features that enable to scale it across all currency pairs and all timeframes. As tested it can be used as equal stop loss and take profit forex strategy but it can be also used to test ideas for scalping forex strategies.
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Used indicators and chart formations
MACD (moving average convergence divergence) Indicators are doubled and only histogram calculation is used in both. Alpha MACD identifies major trend while beta helps to avoid late trend entry and confirms more recent trend.
Test formation: Candle with tall wick (2x taller than candle body) going against the direction of trend. Next candle closes in the direction of trend with wide body surpassing open of previous test candle.
Expert has build in trailing stop adjusting after each candle close. It is also used as initial stop loss.
Notes to input:
Take profit : Take profit for orders in points.
lotsize: Position size
alfa MACD slow EMA: Calculation period for slower of the two EMA creating MACD histogram. Trend filter
alfa MACD fast EMA: Calculation period for faster of the two EMA creating MACD histogram. Trend filter.
beta MACD slow EMA: Calculation period for slower of the two EMA creating MACD histogram.
beta MACD fast EMA: Calculation period for faster of the two EMA creating MACD histogram.
Trailstop extra deviation: Distance between trailing stop and last candle low/high.
wick doubler: Wick size compared to candle body size. Higher the doubler less sensitive the setting and less signals are recieved.
max: specify maximum test candle body size
min: specify minimum test candle body size
We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).
To win you must trade with broker on your side.
Dislaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.
TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.
