I am only new here but I just wanted to throw something out there that a few people have said before.
Are there any indicators that give good entry points?
I have been testing lots of indicators/EA's and combinations of indicators and cant find any that are consistently giving good results.
One of the best is maybe Xbars EA on USDCHF.
Attached is a backtest of XBARS. Backtest is simply TakeProfit = 10 Stoploss = 10. The idea is that if the entries are good then there should be more TakeProfits, then Stoploss. (10 was the optimised TP by Funyoo)
As you can see it isn't very exciting, and this is one of the best I have tested.
I understand that altering stoploss and takeprofit give different results, but the idea of scalping is to be able to make money by knowing when to enter the market.
Most EA indicators enter with a 50 50 chance of being correct, then they rely on market fluctuations to come into profit with a large drawdown. If you were trading manually you probably wouldn't accept the large drawdowns.
If there are no consistent indicators maybe the focus of EA building should be more on the logic and less on the indicator. For eg just adding a trailing stop increases profits without extra DD.
Maybe exiting the trade and opening a trade in the opposite direction is better then continuing with DD? Maybe then add a grid setup or a buy/sell Limit? Maybe focus on ways to turn the losing trades into winning trades? Maybe add these options into a template?