4H Trading Setup (Sto+MACD+TL+SK=?) @ Forex Factory

Feedback on Trading System

I built a forex trading strategy recently for a friend, and wanted to share it / get some feedback on it, as most of the systems I build trade stocks and are more fundamental/macro based!
The system was inspired by this forexfactory post: https://www.forexfactory.com/showthread.php?t=343533 but I've made a few changes.
The Filter:
I didn't like the proposed TMA slope indicator as the calculation and cutoff values seemed too arbitrary to me, so I take the 5 bar ROC of an EMA and smooth it. I divide this value by its standard deviation to scale it for higher timeframe analysis. I take the value of this adjustedSlope at the 4H, 1D, 1W timeframes, and sumproduct them with weights of 40%, 30%, 30% to give a little more strength to recent movements. I call this the overallSlope (for future reference).
I describe the the market regime under these rules:
(overallSlope > overallSlope[1] and overallSlope > 0) = bullish
(overallSlope < overallSlope[1] and overallSlope < 0) = bearish
(overallSlope > overallSlope[1] and overallSlope < 0) = neutral
(overallSlope < overallSlope[1] and overallSlope > 0) = neutral
Just like the system from ForexFactory, only long trades can be taken if its bullish, only short trades can be taken if its bearish, and either trade can be taken if its neutral.
The Setup:
I believe this portion is identical to the original stated system. Take the 50 bar Triangular Moving Average on the 4H timeframe, where the UpperBand is TMA + (2.5 * H4ATR) and the LowerBand is TMA - (2.5 * H4ATR).
If the market regime is bullish/neutral and the price has traded below the Lower Band then we're setting up for a buy and vice versa with a bearish/neutral market regime and price trading above the Upper Band.
I'm considering switching this to Median Absolute Deviation Bands as I like using the modified Z Score but I'm unsure of applying it directly to a price series instead of indirectly through an indicator or factor, I assume the median isn't very effective due to the actual series drifting, where as its (more) static when applied to Earnings Yield or something.
The Trigger:
For the trigger I'm on the 1H TimeFrame using the MACD histogram crossing 0, but the MACD is based on the Jurik Moving Average instead of the standard. A couple years ago when I first started getting into programming and playing forex, the JMA was something I stumbled on and wrote up and I really like it, it's very effective and smoothing a series, allowing the use of shorter lookback values without the MA being too "jittery".
Exits:
On the losing side, at open a stop loss is placed at (2 * H4ATR) below(above) the low(high) if we're going Long(Short). I'm currently split between two exits on the profit side. Right now my current exit criteria for a hypothetical long position is a bearish MACD Histogram crossover while we are above the TMA (the "midline"). The other strategy I'm considering is half off at the midline and the other half off at the Upper Band, but I think this isn't great because it can reverse and hit the stop effectively nulling the trade.
Risk Management:
For the risk management of the system I'm using position sizes standardized to risk 3% of the account on each trade by calculating how far away the stop is, and scaling the # of units until $risk = AccVal * .03.
Additional Comments:
As of right now I only have it fully coded on TradingView and I've made sure to use open prices for everything to avoid? (not sure if this completely handles this issue, please let me know) lookahead bias and I'm in the process of translating my code into my backtesting system but a lot of what I've built is equity related so I have some work to do to get it running right for forex. In TradingView I have it plot the Entry, Stop, and two targets, and the background shifts based on if it's long/short/flat. https://imgur.com/a/A1UQi04

I look forward to any thoughts or comments y'all may have, thanks for reading!
submitted by ilovemygirlfriend69 to Forex [link] [comments]

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The Collection of FREE Forex MT4 Indicators and MT5 Indicators. 1000+ mächtig & Profitable Forex Trading Strategies & Systems that work! Jetzt downloaden Sometimes the movement is close to the zero and within the fisrt MACD zone. I only use it as benchmarks as to where the MACD are at the moment. If one zooms in then you dont loose sight of the position of the MACD. The MACD does not have to reach certain levels. It is only when it zig zag accross the zero that one must be carefull but it ... This is the basic script that shows MACD as described with settings in the thread https://www.forexfactory.com/showthread.php?t=14630 - 4h and daily trading. - GBP pairs. - MACD (histogram mostly) and price analysis.... yes that's it! simple enough and my profitability/time ratio never been that good. - I also put some ema's to quickly spot the trend and avoiding putting too much emphasis on the chop. Stoch serve only as extra confirmation. No more scalping and small TF trading. Too much time consuming, trading cost impact ... Could someone modifie the 4h MACD FX_strategy So it will show different rhythems of different currency on the same chart On one chart you could see -ADDING WHAT EVER PAIR YOU WANTED EURUSD 1.2735 RHYTHEM = -2 strong bear strength USDCHF 1.1534 RHYTHEM = +2 GBPUSD 1.6140 RYTHEM = -3 Similar to how the CURRENCY DISPLAY indicator works Forex Trendisimo Trading System – High profits and accuracy Forex H1- H4 High Accuracy Trading System with Trendisimo Custom Indicator.This best and high accuracy Forex Trendisimo System with Trendisimo Moving Average, MACD Trend Period is very easy even for newbie trader. Once 4H Sto oversold situation found, confirming that Day and H chart’s MACD direction are up. If Day or 4H MACD contain MACD Divergent, DO NOT TAKE THE TRADE. (45 degree angle and parallel situation consider a good setup qualification.) (If Day MACD stick together or cross down, there must be SK, 38.2, 61.8 AND Trendline hold the Price) (If 4H Sto is only 50%-60% oversold situation, do not ... Philip Nel started a thread at ForexFactory forum discussing the 4-hour MACD Forex Trading Strategy.It is an impressive forum thread. It began in 2007 and it is still active now. (It has 1338 pages and growing.) This trading strategy focuses on finding patterns (for e.g. double top and head and shoulders) on the MACD indicator. I have studied several articles about the MACD indicator, and i finding if EXTREMLY RELIABLE. This is why i want to know your opinion. If you use this indicator, what are your settings. I personally trade with the MACD lines, using the 4 hour chart and this settings 5-34-21. I hope we can find a good and reliable settings for this indicator.

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