help with forex strategy [SOLVED]

liang323 · Postby **liang323** » 23 Oct 2018

Hi I was hoping if someone could help me with a very simple strategy based on Bollinger Band reversal, I'm trading EUR.USD on 1 hour chart (Interactive Brokers). Basically Buy when price is above the upperband and short when price is below the lowerband.

The strategy only had 1 entry order but no exit orders were issued. Much appreciated if someone is able to help me to correct the code:

and here is the quote manager setting:
Price Scale: 1/100000
Min. Movement: 5
Big Point Value: 1

Many thanks!

Code: Select all


Inputs:

	BollingerPrice( Close ),

	CurrentPrice( Close ),

	Length( 20 ),

	NumDevsUp( 2 ),

	NumDevsDn( -2 ),

	TradeAmt(10000),

	Threshold (0.0005);



variables:

	MidLine ( 0 ),

	var0 ( 0 ),

	LowerBand ( 0 ),

	UpperBand ( 0 ),

	UpperPriceThresh ( 0 ),

	LowerPriceThresh ( 0 );



{Calculating Bollinger Band}

MidLine = AverageFC( BollingerPrice, Length ) ;

var0 = StandardDev( BollingerPrice, Length, 1) ;

UpperBand = MidLine + NumDevsUp * var0 ;

LowerBand = MidLine + NumDevsDn * var0 ;



{Entry Conditions}

UpperPriceThresh = UpperBand + Threshold; {UpperBand + 5 pips}

LowerPriceThresh = LowerBand - Threshold; {LowerBand - 5 pips}



Condition1 = CurrentPrice < LowerPriceThresh; 

Condition2 = CurrentPrice > UpperPriceThresh;



{Long Entry}	              

if marketposition = 0 and condition1 then

buy TradeAmt contract next bar at market;



{Exit Long}

if marketposition > 0 and CurrentPrice = MidLine then

sell all contract next bar at market;



{Short Entry}

if marketposition = 0 and condition2 then

sellshort TradeAmt contract next bar at market;



{Exit Short}

if marketposition < 0 and CurrentPrice = MidLine then

buytocover all contract next bar at market;

TJ · Postby TJ » 23 Oct 2018

How often do you see the current price ever equals the MidLine ?

liang323 · Postby **liang323** » 23 Oct 2018

hi TJ, I can see price crosses the MidLine at least once or twice a day.

Thanks!

TJ · Postby TJ » 23 Oct 2018

hi TJ, I can see price crosses the MidLine at least once or twice a day.

Thanks!

So? What can it do for your strategy?
"Cross" is NOT the same as "EQUAL"

{Exit Long}
if marketposition > 0 and CurrentPrice ==== MidLine then
sell all contract next bar at market;

liang323 · Postby **liang323** » 23 Oct 2018

Hi TJ, thanks so much for pointing the mistake, I've replace the "=" with "cross above" and "cross under", the strategy worked straight away! I didn't think it would have such big impact on the outcome. Thank you again for helping and wish you a nice day!

help with forex strategy [SOLVED]

help with forex strategy

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Re: help with forex strategy [SOLVED]

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