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PipMattik Method

What's up my peoplez! I was toying around with an idea today, and thought I'd share it with my friends here. It uses the QQE indicator. I set up a Eur/Usd chart, 1HR timeframe, and added the QQE MTF with alert indicator. I set it to alert me when QQE passes above or below the good ole' "50" level. I added two other levels to be used as filters, one at 55 and one at 45. I also set the QQE indicator to add dots when a 50 cross occurs.

When an alert happens (cross above/below the 50 line), I wait for a candle close above 55 (for BUY) and below 45 (for SELL). It has to be a "healthy" close at that level, meaning if it's only sitting on the line and not pointing up/down, then I wait.

For stop loss, I take the high/low from the last 4-5 candles. For exits, I wait for an opposite confirmed signal (Not just a 50 cross, but above/below 55 or 45). If I were to exit simply at the next 50 cross, MANY pips are left on the table any a lot of chop can be filtered out.

I tested it using the LFH trading simulator. On the report you'll see 1000 pip TP's, that's only because with LFH you can't use "0" as TP. But in live trading I'll be using no TP and exiting as per the rules. Obviously, as with any system, sideways or choppy runs will generate some losses, but I feel that the eventual long runs will greatly outweigh the losses each month.

I'll let you know how it goes!

Stovedude : you are the MAN at creating EA's based on systems, and I'm pretty sure that with the added 55 and 45 level filters only on closed candles this could be difficult. But feel free to give it a whirl!
 

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ronald123

Member
Although the Nov test was nice, looking back this strategy is probably not worth it. The grail search continues...
The idea with the added 45 and 55 level is what Russ Horn uses in his Forex Power Pro System (which, by the way, is not the worst of systems out there). As it is, I'm fiddling around with this idea right now too... Guess it could be great to grab 5-10 pips here and there, because it' s the opposite of trying to get in at 'tops and bottoms'...

regards and happy hunting!

Ronald
 
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