Stop and reverse strategy(No martingale)

[seemab]

Hi arrow82 :
The result i have just sent you is done in strategy tester and to get live trades, you have to wait until all conditions met.

[Arrow82]

@seemab check with you, can use it on different time frame to test the results right? i wanted to test it on small time frame to check whether its working properly first..i tried on 5mins chart it took trade wrongly, attache the picture for your reference.

[Arrow82]

@roar Hope you are doing great, i tried the project RSI bullish or bearish engulfing pattern earlier we worked on, once attached to the chart, it seems like not working at all..not sure where is the glitch. could you help to check whats the issue? when you attach the EA to the chart able to see RSI level 70 but couldn't see the 30 level.. kindly check, thanks. i am confident this strategy will be killing pips if we can rectify the issue. please help, thanks. attached picture for your reference.!0_1549289446780_RSI project.JPG

[roar]

@arrow82 Hi!
I ran a quick backtest with the project https://fxdreema.com/shared/Cy0GAae1c

It does create trades, but the bot trades quite rarely by design. Engulfing candles don't happen very often with RSI over 70.
The reason why you dont see the level 30 is because I mirrored it. It makes no sense to have different levels, like 70 and 20, it must be 70 and 30, 60 and 40 and so on. So its better to use only one level, less work with optimizing.

See what I did here:

The level parameter is indeed 70, but the whole condition actually reads as "14-RSI is below 30" when you work the math out.

[Arrow82]

@roar thanks a lot roar, will check this again and come back. appreciate your help.

[Arrow82]

@roar Hi Roar, thanks always for your help. the RSI 70/30 level bullish/Bearish Engulfing project as you mentioned, it take far less trades, so i planned to change the trade taking criteria, kindly help to modify according to it. if you have any good suggestions let me know, we can work together.
Buy set up: RSI level 30

1. As long as RSI crosses 30 level, means rising from below 30 level to cross the 30 level.
2. Bullish engulfing formation. not just one bearish candle followed by engulfing candle, it can be continuous candle, one bearish candle followed by 2 or 3 bullish candle, as long as it engulf the previous bearish candle.
3. above 2 conditions meet, enter buy with stop loss, whichever the candle wick is lower. take profit 200% of the stop loss.
   Sell set up: RSI level 70
4. As long as RSI crosses 70 level, means coming down from below 70 level to cross the 70 level.
5. Bearish engulfing formation. not just one bullish candle followed by engulfing candle, it can be continuous candle, one bullish candle followed by 2 or 3 bearish candle, as long as it engulf the previous bullish candle.
6. above 2 conditions meet, enter sell with stop loss, whichever the candle wick is lower. take profit 200% of the stop loss.
   Attached picture for more information:
   

[roar]

@arrow82
Well, do you have a fxdreema project for this? Did you even try?

[Arrow82]

@roar thanks roar for your reply. i saved your project and installed in the chart. it works well but the entry is very rare due to candlestick formation below level 30 and above 70. what i am planning is to open up the conditions lightly, as long as RSI coming up from level 30 and bullish engulfing form with 2 or 3 continuous candle should be eligible for entry. reverse criteria is for selling with RSI 70. hope you can help me on this. kindly help, advance thanks.

[Luqmaan]

@roar lm laughing myass off as im reading this.
Ur ryt though if u share ur strategy then the next person would use it and at the end of the day it will no longer work because every newbie with a few bucks in the pocket will be using it and flooding the market with the same strat.

[AlphaOmega]

Hi roar.... Could you please look at this strategy and give me a helping hand ... I having trouble to get the TP to move 75% under the next created trade either in buy trend or sell trend. I have asked in the normal forum but nobody seems to know how to do it. I tried many ways but the TP either do not move to new position or the TP move and then retrace making the BT very very slow. I am hoping you will be able to help... Thx in advance
Project:
https://fxdreema.com/shared/DycmAdrob
Idea:

Here is my post in the normal forum:
https://fxdreema.com/forum/topic/10242/how-do-i-move-tp/15