The setup overview for EMA Rainbow Strategy is a daily collection of analyzes of potential trades based on this strategy. Detailed description of the strategy can be found in this link. The cycle will last exactly two weeks. After this period, on Saturday, October 7, I will publish a summary of the statistics of this strategy and will report whether or not during these two weeks tested strategy was profitable.
As announced earlier, on the same day, I will also present another strategy that I will test for another two weeks. In this way I will try to test as many investment strategies as possible to find the best and most effective.
On AUDCAD, only from the beginning of the session we had 9 signals to open a position. Considering that only 3 of them have been wrong and the rate of return on a single transaction on this instrument is as high as 78% at uTrader, so far only 1.68:1 has been earned so far. The red arrows on the graph mark signal candle, while the colored rectangles are including 3 candles from opening until the option expires. According to the assumptions of the EMA Rainbow strategy this period is three times longer than observed interval. For another opportunity to open the PUT option on this instrument we should be awaiting after a slight correction and re-testing the purple moving average (EMA14).
EURAUD has had five investment opportunities so far, and only one of them has been lost. Taking into account the possible return on each individual position at 76%, it turns out that on these 5 transactions we could earn 2.04:1.
EURCAD enabled today to open up to 7 CALL options, of which only one would be lost. Taking into account that uTrader offers for each currency pair the rate of return on each individual option 76%, only this instrument has so far been able to earn as much as 3.56:1.
On the EURCHF currency pair EMA Rainbow strategy generated so far 5 signals, of which only 3 have proven to be profitable. Still, thanks to a possible return on investment of 68%, the overall balance would be positive and would be exactly 0.04:1.
Only two signals occurred on the USDCAD currency pair. Fortunately, both of them proved to be accurate. Broker uTrader today offers 76% return on investment on this instrument, so on the basis of these signals we were able to earn so far 1.52: 1.
Also 100% accuracy of the signals we observed today at NZDJPY. In this case, as many as 5 of them, with a return rate of 71%, yielded as much as 3.55:1.
Taking into account the results of all the instruments presented, it turns out that by investing only in these 6 currency pairs, the EMA Rainbow strategy was able to achieve a return on investment of 12.39 : 1 until 13:00 today.
I am aware that the above analyses depict historical set ups, but the whole cycle is supposed to:
- show how and what signals on the chart you need to look for,
- check if the EMA Rainbow strategy is profitable
- make us familiar with the strategy assumptions
As I mentioned in the introduction, on Saturday, October 7, I will publish a report summarizing the statistics of this strategy and will show whether or not these two weeks where profitable. So far, the results seem to be very optimistic, much better than the first strategy ( End of the Day) we tested in first two weeks of our project.
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