Cowabunga System from babypips. Please do read the information below as well, especially if you are new to Forex. I have coded quite amateurishly the basic system onto a 15 minute chart the 4 hour settings are coded as well. The author says the system is to be traded off the 15 minute chart with the 4 hour chart only as a reference for trend direction. RSI must be greater than 50 and not overbought. Stochastic must be headed up and not be in overbought territory. Set the RSI and Stochastic levels to avoid entries when they indicate overbought conditions for long and oversold conditions for short 80 and 20 levels.
Users can input specific times they want to backtest. User's can configure profit targets, trailing stops and stops. Default is set it to was pips profit target with a 40 pip trailing stop.
Note, when you are changing these values, please note that each pip is worth 10, so pips is entered as The Cowabunga System from babypips. The author, Pip Surfer, continues to post wins and losses with this system.
It shows there is a lot of honesty and integrity with this system if the author keeps up to date even 10 years later and is not afraid of sharing the times the system causes losses. As an example of this, here is post he shared just last week. It's almost like a journal, he gives specific times and reasons why he entered, lets the readers know when he was stopped out, etc. I think that what he does is equally important as his system. To read more about this system, visit the thread on babypips.
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