Description
Why to use this strategy?
- Backtested: Strategy has been backtested since 2021 on major pairs: AUDCAD, AUDUSD, USDCAD, USDCHF, EURUSD, GBPUSD, US30, US500, XAUUSD, BTCUSD
- Stable profits: ~50% / year stable profits since 2019
- Precision Entry and Exit Points: Catch the beginning of new trends and exit on key psychological levels
- Optimized for H1 and 15m Timeframes: Perfect for both day traders and swing traders
- Automation ready: Plugg-n-play with Metatrader via Pineconnector for complete automation and no more emotions
- Impressive Track Record: 70-90% Win Rate and 1-5 Profit Factor (backtested since 2019)
- Live results on myfxbook
How to use this strategy?
- Add the the strategy from the TradingView URL to favorites;
- After receiving access, add it to one of the recommended pairs and recommended (timeframe e.g. H1);
- Adjust the settings according to the backtested setting mentioned down below.
You can see everything in the video here: https://youtu.be/8-nHvbqKLfI
Important Reminders
- Past Performance is No Guarantee: Always keep in mind that past performance is no guarantee of future results;
- Enter with Caution: Enter with 1% of your portfolio and at a maximum of 10% margin allocation to manage risk;
- Do your own backtests: The current backtests and configurations have been done since 2021. Backtests for at least 5 years. 10 years is ideal.
Core Functionality
- Identify price reversals
- Support and resistance for exits
- DCA entries to avoid liquidations during news and volatile periods
- Ready to be used with Pineconnector, Metatrader, and Pepperstone (or any low spread broker)
Parameters
- Start year: The year from which to start using the script and backtesting
- End year: The year to which to stop using the script and backtesting
- Only longs: Enter on long trades
- Only shorts: Enter only short trades
- Use MFI: Whether to use the MFI indicator for entries
- Top: The top MFI level to check for shorts
- Bottom: The bottom MFI level to check for shorts
- Exit MFI: Whether to use MFI for exits as well;
- Use RSI: Whether to use the RSI indicator for entries
- Top: The top RSI level to check for shorts
- Bottom: The bottom RSI level to check for shorts
- Exit RSI: Whether to use RSI for exits as well;
- Aggressive entries: Whether to check only one candle instead of two before entry confirmation
- Use combined: Whether to check both MFI and RSI before entering a trade, instead of either one or the other
- Max open pairs: The maximum number of entries at the same time
- Pineconnector account number: The unique number of the Pinneconnector account to send webhook signals to
- Broker: The use broker. It can be only Pepperstone, FTMO, or ICMarkets
- Custom lots: The lot size to be used in Metatrader/Broker. When specified, the risk is ignored
- Max pairs: The maximum number of simultaneous traded pairs
- Leverage: Broker leverage;
- Use compounding: Whether to reinvest profits and increase the lots according the the increase in equity.
Recommended usage
- Use maximum 2 pairs at the same time;
- Make sure that the maximum drawdown on both pairs combined is no more than 50%;
- Use Pepperstone as broker;
- Start on a 10k demo account first with 0.01 lots;
- Use also volume profile for exits.
Backtested parameters
AUDCAD (H1)
- MFI: true (65/35)
- RSI: true (70/30)
- Exit with RSI: true
AUDUSD (H1)
- MFI: true (75/25)
- Exit with MFI: true
- RSI: true (70/30)
GBPUSD/EURUSD/US500 (H1)
- RSI: true (70/30)
- Exit with RSI: true
- Aggressive: true
USDCAD (H1)
- MFI: true (75/25)
- RSI: true (65/35)
- Exit with RSI: true
- Aggressive: true
USDCHF (H4)
- MFI: true (70/30)
- Exit with MFI: true
- RSI: true (65/35)
- Exit with RSI: true
US30(H1)
- Only longs: true
- MFI: true (70/30)
- Exit with MFI: true
- RSI: true (65/35)
- Exit with RSI: true
XAUUSD (H1)
- Only longs: true
- MFI: true (70/30)
- Exit with MFI: true
- RSI: true (70/30)
BTCUSD (H1)
- Only longs: true
- MFI: true (70/30)
- RSI: true (65/35)
- Exit with RSI: true
FAQ
How to setup Pineconnector?
- Create a Pineconnector subscription and get the license number
- Input the license number into the Pineconnector account number
- Add the Pepperstone (or any broker) account size in the Initial capital in Properties
- Add the Risk for dynamic lots calculation or use a Custom lots
- Create an alert and add {{strategy.order.comment}} in the Message and add the Pineconnector Webhook URL as specified in the docs
- Proceed with the EA and VPS setup specified in the Pineconnector docs.
Strategy did not generate any orders/trades
Try to increase the Initial Capital or change the chart provider/broker. Some symbols required a minimum size per trade.
Error on bar: Invalid qty value
Decrease the risk or custom lot size,
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