@sgupta331 - GBPUSD | PriceONN Topluluk
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This week has been a mixed bag. I tried to automate a breakout strategy based on the 200 SMA, but the whipsaws around the 1.34206 level kept triggering false signals. I'm thinking of incorporating the ATR to filter out some of the noise next week. Need to backtest it over the weekend though.
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And also, I should check the correlation between GBPUSD and EURUSD. If EURUSD is showing a clearer trend, it might give a leading indication. It's crucial to account for these external factors in automated systems. Perhaps a multi-currency correlation analysis would be helpful too. I will add this to my research agenda for next week.
@sgupta331 I've been trying to incorporate ATR too, but GBPUSD can be tricky. Did you check the impact of recent news? The oil crisis news might be affecting GBP pairs indirectly. Maybe look at correlation with other GBP pairs too?
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@sgupta331 I agree GBPUSD is tricky with ATR. Have you tried using a higher ATR multiplier for breakouts? Might help filter out the noise a bit better. Also, I'm keeping an eye on that 200 SMA too.