To achieve full benefit of the swing forex strategy. Trend filter needs to be applied. This forex strategy uses alligator indicator as a trend filter. Swing entry is signalized by CCI forex indicator. Wave structure of the market is estimated and strategy tries to enter the long trade at the bottom of the wave within the uptrend. Top of the wave is used for short entry into the downtrend. According to high quality historical data test, this model works very well.
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As always we bring you full strategy for free. Expert advisor is provided freely for you to test the settings yourself and modify it for other currency pairs. Test results achieved in screenshots are for EURUSD 1H chart since 2003.
Used forex tools and indicators
Alligator forex indicator (130,80,50) All lines must be aligned according to either uptrend or downtrend. Alligator is a trend filter improving the success rate of this forex strategy drastically.
Commodity channel index (CCI 25). Oscillator will provide swing signal. We will enter long on CCI falling below -100 line. We will enter short on CCI above 100. Indicator reaching opposite line will trigger position liquidation.
Break even condition after 100 pips profit: EA includes break even condition however best results were achieved when this condition was omitted from the calculation. It is likely that it will become very useful in lower timeframes.
Forex strategy rules
SELL:
All alligator lines aligned according to downtrend. From slowest at the top to fastest at the bottom.
Lines must be untangled and clearly separated.
CCI rises above 100 line. We enter trade short on new candle open.
Position is closed once the indicator falls below -100 line.
BUY:
All alligator lines aligned according to uptrend. From the fastest at the top to the slowest at the bottom.
Lines must be untangled and clearly separated.
CCI falls below - 100 line. We enter long on new candle open.
Position is closed once the indicator rises above 100 line.
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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.
