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Honest
Version 5
The Honest algorithm uses key levels that develop over time and volume for day trading the Emini S&P contract. Honest delivers a decent return adjusted after worst-case scenarios with Tick-level back-testing and performs very well with out-of-sample data - half the time out-of-sample data outperforms the in-sample. The nature of how these key levels are treated by traders of various time frames is the basis for the performance of Honest. As markets change over time, some adjustment of these levels is necessary in response to how sensitive these become, or even when some levels lose their ability to cause price reversals. Run Honest in simulation for the entire trial period and see if this trading strategy is right for you. You can either choose to automate this strategy or use it in prompt mode to enter. I have found that exits could be managed very well if you are more ambitious than Honest and letting profitable entries run. See for yourself how often Honest will enter with greater ...
The Honest algorithm uses key levels that develop over time and volume for day trading the Emini S&P contract. Honest delivers a decent return adjusted after worst-case scenarios with Tick-level back-testing and performs very well with out-of-sample data - half the time out-of-sample data outperforms the in-sample. The nature of how these key levels are treated by traders of various time frames is the basis for the performance of Honest. As markets change over time, some adjustment of these levels is necessary in response to how sensitive these become, or even when some levels lose their ability to cause price reversals. Run Honest in simulation for the entire trial period and see if this trading strategy is right for you. You can either choose to automate this strategy or use it in prompt mode to enter. I have found that exits could be managed very well if you are more ambitious than Honest and letting profitable entries run. See for yourself how often Honest will enter with greater than 60% efficiency- and while it exits on a Market If Touched (MIT) profit target of $75, you could choose to let the profits run as long as day low has been achieved. I use it on a daily basis because it manages drawdown fairly well and offers a reasonable return per contract on a monthly basis.

Honest favors filtering out bad trades over taking on more trades but with a lower expectation of profit. Patience wins over in the long run. Set UserMoreTrades to 1 or 2 to increase the number of trades HONEST takes. Default and recommended setting is 0.

Average trades amount to 2-3 per week but when used with a decent account size, such as $10,000 per contract, one could use 2-3 contracts for a good return. If you have any questions or want to adjust the settings, please contact me at a_smartdog-misc@yahoo.com.
What's New
Version 5
Set UserMoreTrades to 1 or 2 to increase the number of trades HONEST takes. Default and recommended setting is 0.

Version 4
Exits at 345PM CME time. There is no way to monitor future holidays so please do not run HONEST in automated fashion on short trading days.

Version 2
Adjusted exits to occur slightly before 1600 hours. Increased trial to 30 days.

Version 5
Set UserMoreTrades to 1 or 2 to increase the number of trades HONEST takes. Default and recommended setting is 0.

Version 4
Exits at 345PM CME time. There is no way to monitor future holidays so please do not run HONEST in automated fashion on short trading days.

Version 2
Adjusted exits to occur slightly before 1600 hours. Increased trial to 30 days.

Version 1
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Requirements
Tradestation 9.5 (Update 16)
Asset Type
Future
Style
Intraday
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