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Andrew Lockwood's SIMPLE and PROFITABLE Forex Scalping Strategy

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  • Andrew Lockwood's SIMPLE and PROFITABLE Forex Scalping Strategy

    Hi Guys,
    I'm going to have a go at putting Andrew's scalping strategy in to an EA I'll make using the visual EA generator fxDreema (https://fxdreema.com).
    Once completed I'll attach the .mq4/.mq5 that can be either opened in fxDreema or edited manually using MT4/MT5.
    Note that you'll need to have a subscription with fxDreema to open the file there as it will be too complex to use with the free account, and no I'm not being paid for referencing it here.
    My hope is that once we have an EA we can post backtesting and live trading results for each pair and work out optimal settings for each.
    I'd also like to test the system with some more advanced MA's like Jurik and Hull.

    I've messaged Andrew to see if he can help with defining answers for some of the questions, but if anyone else has experience with trading the system manually I'd be interested in your thoughts...

    The videos detailing the system are here:
    https://www.youtube.com/watch?v=zhEukjCzXwM
    https://www.youtube.com/watch?v=0hUJTsjYPcQ


    Here's the rules I've defined so far, and some related questions:

    General
    Q: Is there a maximum Spread limit for this strategy?

    Considering for a positive (bull) trend:
    Trend (H1) Rules
    - EMA(21)<EMA(8)
    - EMA(8)<Low

    Q: Is the active candle 0 (variable) considered for trend states, or only candle 1 (locked)?
    Q: How many candles must the EMA(21)<EMA(8) and EMA(8)<Low conditions both be true for to confirm a trend is active?
    Q: Is the trend cancelled when Low<EMA(8), or when Low<EMA(21)?

    Scalp (M5) Rules
    + Detailed rules defining fanning behaviour of EMA(8), EMA(13) and EMA(21).
    - Trigger Bar = Low<EMA(8)
    - Buy Stop = High of previous 5 candles + 3 pips
    - Stop Loss = Trigger Bar Low - 3 pips
    - TP1 = Buy Stop + Buy Stop - Stop Loss
    - TP1 Hit = Close 50%, Stop Loss to break even (Order Open)
    - TP2 = Buy Stop + (Buy Stop - Stop Loss) x 2
    OR
    - TP2 (Trail) = Stop Loss to Low of previous 3 candles - 3 pips
    - Close<EMA(21) = Close Order

    Q: Is the active candle 0 (variable) considered for triggers, or only candle 1 (locked)?
    Q: How many candles to confirm fanning of EMA(8), EMA(13) and EMA(21) is active?
    Q: Is Trigger Bar still active if it contacts the EMA(13)?


    cheers!
    Last edited by drayzen; 01-31-2019, 04:52 AM.
    ... the alien does not concern itself with the opinions of humans ...

  • #2
    Originally posted by MonsterHigh
    It is best to open transactions on the ForexGumpXL indicator. Very accurately shows the price reversal points and does not redraw.
    Do you have a Myfxbook link to show this making profits or are you just spamming my thread and wasting my time?
    The developer has many products, most with low rating and they don't seem to understand even how to code a non-repainting indicator, or one that doesn't leave false signals on the chart. Not impressed by that at all.
    ... the alien does not concern itself with the opinions of humans ...

    Comment


    • #3
      MonsterHIgh - do not use this forum for commercials!

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