I've recently subscribed to TTC's EAP course and created this script to help me.
This is a script to assist with backtesting the strategy outlined in the course. It follows the 5 basic rules of entry.
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Updated Pullback indicator for The Trading Channel EAP Course
There is much clearer signals and improved and organized code
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Added strategy orders to see performance of chart history
Note #1 - ATR hasnt been added to TP & SL yet Note #2 - These signals dont take into account retracement level, so verification is required on that front
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- Added risk factor variable to test different strategies - I've added checkbox options to ignore either buy or sell signals
@bustari, Add it to a chart and click on the cog/settings icon to configure settings.
"Bars back to check previous high/low" - This will determine how far back it will look for the "swing" (It's not the same for all currency pairs but the script doesn't have a human eye to determine this)
"Risk Factor" - This is only for the Strategy Tester to determine where your Take Profit will be relative to Stop Loss
"Allow Sell/Buy Signal" - Enable/disable sell signals (Useful for certain pairs)
AhlvertStevenSantosAbina
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@RodRitter, im familiar also on the strategy of TTC
by the way thank you for making this script and post it on public.
can i ask does it have an alarm? whenever there is a trade?
amarkumar2103
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wondering how this strategy works. does it repaint? Also, when "SIG" pops up in a short scenario is that the candle where stop would be above the high and then target 1:2, 1:3, etc depending on what we want to do.
robertmileage
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@amarkumar2103, No repaint once the candle closes. I think it will paint as the candle is in flux. The idea is to take an entry after a two candle pullback with an engulfing candle towards the trend during a trend. This would be the first attempt at making the swing level though. So if you already have a swing level, then it is not a valid set up.
RodRitter
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@robertmileage, Thats correct. @amarkumar2103 The signal only paints at the end of the time frame, so the next candle is your entry. Assuming you've done your own validation. It's not always valid with the swing length ("Bars back to check previous high/low") variable.
rjadeja
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@RodRitter, what's the return for this strategy and what about the RR and winrate?
gertjonvermeulen
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Hi there! Its very helpful also joined the EAP program.
What do you think of the pullback strategy?
Do you have already decided witch currency pairs trade the best whit this strategy in 2020?
For now just backtesting and creating a trading plan around this strategy.
Thanks for al the hard work en publicizing this script!
I think it depends on the time frame, & currency pair. Also some of the pairs work better with just buy/sell orders on their own.
There's no one pair that works all the time. Probably best to backtest once every few months to see if the pair is still reacting strongly to the strategy. It changes.
gertjonvermeulen
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@RodRitter, thanks! What current strategy do you use for now? backtested the major pairs but not profitable. around 50 to 52 %.