Auto itrend for BrainTrading
This version of BrainTrading uses an auto itrend for figuring the location of buy and sell areas using Newdigital's calculations.
By default the iTrend is counting level bars = 300 bars back, to get highest level of iTrend, and then multiplying that by level factor which =
.283 by default.Now it should be possible to back test or optimize BrainTrading, and who knows maybe there may be a better level factor or settings to make this a very good EA.
Why 0.283?
Igorad's explanation of his findings.
This indicator is counting everything up to 300 bars back on the history starting from the current bar and estimating the max value of iTrend. Then this max is multiplied by 0.283. Why 0.283? I found it experimenting and trading this system for 1 year.
From the beginning - I estimated iTrend max manually every week for M15, M30, H1 etc timeframes. After that - good coder made auto level iTrend indicator so this indicator is making this auto level job: taking max vaklue of iTrend for some period of bars (for 300 bar for example) and multiply this max value by 0.283. So, when you are backtesting - iTrend indicator is making auto levels: you backtest for 300 bars back and you will get one level (max * by 0.283), if you will backtest more than 300 bars (for example) - you will receive the other maximum (one max from 0 to 300 bars, the other max value is calculated since 301 till 600 bars and so on. And every max is multiplied by 0.283).
