The purpose of this thread is to track the performance of a MultiCharts EasyLanguage autotrader that I wrote.
The strategy trades off a modified version of the popular SuperTrend indicator. It also uses a weighted moving average. There are no other indicators.
I posted a basic SuperTrend version of the EasyLanguage indicator here (. That version has a few tweaks over versions floating around on the net. However, this thread has a super-tweaked version of SuperTrend which uses swing high and swing low pivots plus incorporates a maximum excursion distance from the closing price.
The strategy will be trading CL crude oil during RTH only. The strategy has preset daily loss limits and daily profit targets, currently at $450 loss and $600 win.
I also developed a "trailing stop" for the daily profit target, whereby there is no preset hard upper target limit, but the strategy will stop after giving back (trailing) a certain amount of profits. Surprisingly, the backtest didn't yield any favorable response to this however, so I've disabled it for now until I can look into it further. I may enable it later.
The strategy trades 2 contracts only. The targets are primarily dynamic but have a preset limit of 36 ticks to target 1, and 66 ticks to target 2. All targets include commission and slippage -- so they are net. The strategy uses dynamic stops as well, but has a hard preset limit of 20 ticks per contract for the stop. This includes commission and slippage as well, so again it is net.
The trades will be sim until I build confidence with the system in a cash market.