According to numerous tests. This forex strategy is able to double the account each year. Those are amazing results, considering the fact, that it uses stop loss (trailing stop loss) at each trade and same, user defined lot size. All thanks to a modified pyramiding/ add to the winner principle. Trailing stop is applied with each trade. If position moves to profit, according to the rules, strategy can open another trade in the same direction. Those will be both protected by the same trailing stop.
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Used forex tools and indicators
Commodity channel index (CCI) .3C forex strategy uses combination of 3 CCI oscillators. Two for trend identification (CCI filter 100 and 200) and one as a signal (CCI signal 20). We enter the trade if both filters confirm the trend, while signal notices us on low/high price suitable for entry int the trend direction. We enter the trade only on candle close.
Additional rules for position entry are applied to consider the number of open trades when entering the position vs. current profit.
Enter only if floating profit is positive
Profits of opened positions must be protected by trailing stop.
Trailing stop: Trailed behind every candle close Additional distance (100 pips) can be applied using Trailstop extra deviation input in the expert.
Risk limiting factor: The higher the factor the fewer trades the EA takes. This factor needs to consider the lot size used. We recommend to use 1 per 0,01 of lot size used (for example 0,05 lot size will require 5 factor).
MAX number of trades: Limits the maximum number simultaneously opened trades.
Sell below zone/buy above zone. Add extra distance in the middle of CCI chart to separate uptrend form downtrend and the ranging market in the middle. Our tests weren't considering this option. However, it is possible to manipulate those settings for better results in EAs inputs.
Forex strategy rules
Both filter CCI trending below zero line. Downtrend- we enter short trades only.
CCI signal line rises above 100 line. We wait for a candle close to enter the position short.
Trailing stop is placed above the high of signal candle (+ extra distance). Trailing stop is adjusted after each candle close. You will be placing it with the same extra distance above the candle high,
Position is only closed at trailing stop.
While trade exists, new trade can only be opened if the position is in profit and current price is below trailing stop. The new position must also meet all the requirements for initial entry.
Both filter CCI trending above zero line. Uptrend- we enter long trades only.
CCI signal line falls below - 100 line. We wait for a candle close to enter the position long.
Trailing stop is placed below the low of signal candle (+ extra distance). Trailing stop is adjusted after each candle close. You will be placing it with the same extra distance above the candle low.
Position is only closed at trailing stop.
While trade exists, new trade can only be opened if the position is in profit and current price is above trailing stop. The new position must also meet all the requirements for initial entry.
Notes: Expert advisor is in its crude form. Let us know in the comments if you like it, and we will come up with more advanced 2.0 PRO versions with more options and more filters.
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Disclaimer: 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.