It's a simple breakout system where the buy/sell orders are reversed (this gives better returns for some reason).
- If yesterday's price closed lower than the 30 day low, we have a short signal and we go long (cos of the order reversal).
- And vice versa.
- StopLoss is set to 80 pips, TakeProfit is set to 100 pips.
This works on the AUDUSD hourly chart and with the breakout period set to 30 it gives a profit factor of 1.18.
And on the 5Min chart with profit factor of 1.07.
I'm still using the position sizing rules that were part of the sample moving average system I started from. Next step is to figure out what that is doing and look into writing (or finding) some optimal f code for MT4.
So far MetaTrader4 looks like a great platform for system development and because it's free I don't have to write my own platform anymore.