Friday, November 16, 2007

QQ indi _ EA fot GBP-JPY (beta)

The system uses 2 indicators. The QQE and a 5 period simple moving average

The QQE is used in the 30min and 60 min Time frame. The smoothing factor is 5. The 5 period SMA is used in 30 min TF purely for entrys and exits

When the 30m and 60m QQE crossovers agree I enter the position when price pulls back to the 5 sma. Waiting for the pullback will get you in the position at a better price usually than just jumping in.

For exits, there are 3 ways to exit. Stopped at -100 pips, TP at 150 pips or exit on a 30min QQE crossover the opposite direction and then waiting for a pull back to the 5sma to exit at a better price.

When trading this manually I will enter and exits on 5 sma pullbacks if I have time to sit in front of the PC, but without fail I get signals when I am sleeping and have them texted to my cell phone. I'll often just enter the market without waiting for a pullback in those cases, but If I wait for 5sma pullbacks to enter and exit I can get better prices probably 80% of the time.

The screen shot I am posting is from Fibonacci Trader software. I could show you in MT4, but the color bars in FT make it easier to see I think. The green and red dotted indicator shown is the QQE indicator I requested be programmed for FT.

This system is by far not optimized. Its optimized in the fact that it makes pips for me every month but it can always be tweaked. I know that stops of 100 pips and TP of 150 will get me positive pips so thats what I use I am just limited in what I can do in FT software.

I also know that using a 100 pip trailing stop results in a greater profit factor instead of a 100 pip flat stop. But I guess these are things that can be programmed in an EA.

I'll post the mql version of QQE indicator also but it is not MTF, and I'll answer any questions best I can.
Attached Images

DivShare File - QQ 4 indi _ EA for GJ_beta_.rar

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