Updated by request: this is a "Strategy" trading version of the "QQE Cross Indicator Alert v2.0 by JustUncleL" (which is mainly for Binary Options trading), the same BUY/SELL signals are used to generate trade entry and exit conditions. Thanks again to JayRogers for making the Strategy risk management easier to understand and implement.
In this update I have added "Take Profit" option and cleaned up the risk management code. Also changed the close BUY/SELL order if EMA20 direction changes rather the next BUY/SELL opposite signal, making the close earlier.
BE ADVISED TO USE AT YOUR OWN RISK, even though back testing has shown good results, I don't have any Forex trading account to forward test against. You need to perform these test yourself and get back to me if there is any issues.
@JustUncleL Dose this repaint ?? looks like it to perfect
redchevy007
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JustUncleL This script is incredibly time consuming yet SAFE!!!! The entire day of a complete 8 hours of trading i have only traded 7 times.. The results were incredible 6ITM!!! Using all 5 to 10 min trade.
With this i have complete confidence and now i can open more currency pairs to see what this puppy can really do =P. if i can manage to run at least 5.. and get 35 trades with with at least 30 itm.. I can at least make a profit of 504$!!!
JustUncleL
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@redchevy007, Great to hear, just trade with this strategy version carefully. I personally prefer to use the Indicator Alert version of QQE for Forex Trading and Binary Options.
icardi
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@JustUncleL, First of all, thank you so much for this strategy. However, I am having a small issue as it uses v2. Could you please update it to v4? I have been trying for the last few hours without any luck. Thanks again
emmanueldesk
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@redchevy007, do you still use this script for binary options?
JustUncleL
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@emmanueldesk, I do not use this script for trading, I use the Alert script version:
how this script is able to cash out every single time at the top of every candle on the daily timeframes (with modified emas)
JustUncleL
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Update/Warning on TV strategy back testing behaviour: the TV back testing trading calculations are performed at close of candle and it makes assumption about what happened within a candle to interpolate results. So results may not reflect real time results which are performed on a per tick basis, this particularly the case when utilising a trailing stop where back testing assumes it always works if the candles keep going the same way. I have found this out when comparing back testing behaviour with actual trades. I have a new project idea of making the TV strategy behave the same way in back testing and in real time mode, I will update my scripts if I can get it to work.
Steve_S
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@JustUncleL, Great observation. During a trade I was 5 minutes into a new candle when suddenly the trade closed at the top of the previous candle! As you say, be careful. Good luck with the update, sounds excellent.
g
KCh2
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Hi @JustUncleL I see I'm testing your script and it looks very cool. would like your script to generate alerts "long" "short" "close long" "close short" . Please give me some hint how to change it. Thank you in advance