Indicators used: Fractal (4 hour timeframe), Fractal (10 minute
timeframe), CCI (15 minutetimeframe). Instrument : GBPUSD. Volume: 5
million per trade.||
Strategy focuses on opening positions when the market is overbought
or
oversold. The aim is to gain profit from retracement after a big move
if the market is in trend. Fractals are used to identify reversals.
On
the other hand, CCI just confirms if the market is overbought or
oversold. TP is set at 27 pips and sl at 25 pips, reason for this is
that GBPUSD usually retraces 50-60 pips after moving up or down most
of the time. Also, if GBPUSD is consolidating then the range is
usually around 40-50 pips.
||
This Strategy is divided in two parts based on timeframe used for
fractals.
1st fractal (4hour fractal): CCI overbought and oversold levels are
120 and -120
respectively.Variables Maximums38 for maximumfractal , minimum38 for
minimum fractal. if there is a minimumfractal,strategy opens buy
position. If there is maximumfractal, strategy
opens sell position. But before opening buy or sell position, the
fractal signal is filtered by CCI to confirm if the market is in
oversold condition (for minimumfractal) and overbought (for
maximumfractal).
2nd fractal(10 minute Fractal): CCI overbought and oversold levels are
100 and
-100
respectively. Variables Maximums17 for maximumfractal , minimum17 for
minimumfractal. if there is a minimumfractal,strategy opens buy
position. If there is maximumfractal, strategy opens sell position.
But before opening buy or sell position, the
fractal signal is filtered by CCI to confirm if the market is in
oversold condition (for minimumfractal) and overbought (for
maximumfractal).
||
To avoid swaps, all positions are closed after 20:15 terminal time,
no
positions are opened from 20:15 to 0:00 terminal time.|| 1st fractal
indicator was used because of high accuracy but it opened too few
positions, so 2nd fracatl indicator was added. 2nd fractal was
supposed to be based on 15 minutes but i couldn't reduce the
"shift" in visual jforex, so i reduced the time frame to 10 minutes.