DEC2014_GBPUSD

Trading Logic: This strategy uses simple exponential moving averages (EMAs) based trend follow strategy on GBPUSD instrument. I also check for Over-bought (above 70) and Over-sold condition (below 30) as determined by RSI indicator. Only then BUY/SELL orders are triggered. I BUY when EMA 4 > 8 > 12 > 16 with RSI > 70 and SELL when EMA 4 < 8< 12 < 16 with RSI < 30. Lot size = 4 lots when equity falls below 100000 and Lot size = 5 otherwise. Description of indicators: I have used mainly THREE customized indicators. I will describe them one by one. FIRST is customized variable trailing profit taking targets. Targets profit levels are 13/5, 40/20, 80/65 and 135/112. I shall explain what 13/5 means - Whenever I have 13 pips in profit and price action reverts back to 5 pips in profit, I close the position to safeguard further erosion in profits. Variable used is profitinpips (integer data type). Whenever profitpips exceeds 13 pips then another variable counter13level which was initially set at zero is incremented by one. When profitinpips reverts back to 5 pips, I check if counter13level exceeds one, If yes then counter13level is set back to zero and position closed using Position Viewer.I shall explain what 80/65 means - Whenever I have 80 pips in profit and price action reverts back to 65 pips in profit, I close the position to safeguard further erosion in profits. Variable used is profitinpips (integer data type). Whenever profitpips exceeds 80 pips then another variable counter80level which was initially set at zero is incremented by one. When profitinpips reverts back to 65 pips, I check if counter80level exceeds one, If yes then counter80level, counter40level and counter13level is set back to zero and open position closed using Position Viewer. Hence, above explanation can be extended for 13/5, 40/20, 80/65 and 135/112. SECOND is customized time based indicator. I wanted my trades to be opened only during 10 GMT and 18 GMT hours on Monday-Thursday. Using LAST TICK's Tick Time in GETTIMEUNIT function, I fetched day of week, hour and minute in variables named - dayofweek, hour and minute respectively. Using dayofweek less than 6 helped in excluding Friday's trading day. hour variable was set as greater than and equal to 10 - along with - less than and equal to 18. So, trading was set during 10 GMT and 18 GMT hours. THIRD is using Over-bought condition (above 70) and Over-sold condition (below 30) as determined by RSI indicator. I have two RSI values called rsishift1 and rsishift2 with time period 14 on 1 minute period. In my strategy, gbpusdema4 symbolizes EMA 4 with 1 shift and 1 minute period. Same logic applies to gbpusdema8, gbpusdema12 & gbpusdema16. I BUY when EMA 4 > 8 > 12 > 16 with RSI > 70. I SELL when EMA 4 < 8< 12 < 16 with RSI < 30. Explanation of chosen setting: I use 4 8 12 16 EMA's with shift 1 to trigger BUY and SELL orders. Lot size = 4/5 lots (already explained), 18 pips is set as Stop Loss and 190 pips is set as default Take Profit. Method of trade volume calculation: Lot size is set as 4 lots when equity falls below 100000 and Lot size is set as 5 when equity falls rises above 100000.
Version: Date: Status: Description:
1 01.12.2014 Not running DEC2014_GBPUSD  Download
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