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Mister ED's 4 hour Heikin Ashi system

  • #841
  • Sep 17, 2009 3:28am Sep 17, 2009 3:28am
Quoting scalpz
Yep thanks, got all those. Nice smily face, not sad or an x.
I suspect I have too many profiles around, may need to do some tidying up.
By "live chart" do you mean actually showing on the screen in the current open profile. Or can it be in the current profile but minimized.

If I change to another profile to see say a range of charts for EURUSD instead of MrED charts, I suspect the ea's become inactive for those minutes/hours the profile isn't open. I get sets of lines in the journal like:
2009.09.17 09:05:09 Custom indicator Atr&CandleLength...
Hi Scalpz,

Seems to me you have a very busy MT

I mean live chart which is receiving tick data. Can be minimized alright it will still receive and process tick data. However if you switch to another profile then that chart will be shut down & become dead until you switch back to the original profile.

If you have too many EA's you want to host then I would suggest to make multiple installations of the MT and execute them parallel (provided that you have sufficient hw resources). You could host all the EA's on 1 or 2 MT instances which are always on, and you could have another MT for your ad-hoc/sandbox activities....

Longbar
  • #842
  • Sep 17, 2009 5:31am Sep 17, 2009 5:31am
Thank you to all have contributed to the EA.

Can anyone help please?

I have a demo account with FXCM and I have been pulling my hair out trying to get the EA to actually take trades, all the indicators are installed working and set to MR Ed's settings. I have enabled live trading in options, there is a smiley face in the corner, the strategy tester works. But after 24 hours on 5 different currencies at 4H still nothing happening in the trading.

Been searching trough the forum but still going totally MAD
  • #843
  • Edited 1:57pm Sep 17, 2009 7:06am | Edited 1:57pm
Thanks Longbar for that guidance. I currently have IBFX MT & FXDD MT loaded. Dont always have them running together, cause things do slow a little. Especially with Word open - its a memory hog.
Sounds like an excuse for some more ram.

Hi Fourxxxx, Welcome to FF & congrates on your 1st post.
As a sugestion, change 1 of your charts to H1 & in the ea settings, change EAPeriod to 5.
Should then have a line on your screen reading like:
On GBPJPY symbol 60 minutes chart - monitoring 60 minutes chart

I have had quite a few trades showing up for gbpjpy pair.
At least then you will know if things are set ok.

Just after your hour ticks over you should see a line in your bottom Experts tab like:
2009.09.18 00:00:01 MrED_v1.0.0 GBPJPY,H1: INFO: CheckTrigger - no colour change in HA direction, no trade triggered (BUY,2:BUY)

If you get those 2 lines then ea is working, when the settings agree, it should trade.
Goodluck.
cheers scalpz
Target 2 : Stoploss in the green
  • #844
  • Sep 17, 2009 3:46pm Sep 17, 2009 3:46pm
Quoting Fourxxxx
Thank you to all have contributed to the EA.

Can anyone help please?

I have a demo account with FXCM and I have been pulling my hair out trying to get the EA to actually take trades, all the indicators are installed working and set to MR Ed's settings. I have enabled live trading in options, there is a smiley face in the corner, the strategy tester works. But after 24 hours on 5 different currencies at 4H still nothing happening in the trading.

Been searching trough the forum but still going totally MAD

Thanks you Scalps, I found the problem, 2 step order needs to be true.
  • #845
  • Sep 17, 2009 7:39pm Sep 17, 2009 7:39pm
For Longbar:
I loaded your EA, Mr. Ed's HAS indicators, and the 10 pair listed in his indicator,
set up using Strategy Tester, etc. on H4 for each pair. Ran last 24 hours and
only got 2 pair to trade.....and each, USD/JPY and GBP/USD put on double trades at same time! No closed trades? The notes seem consistent on each chart. Not sure I understand ATR? The ATR% on charts runs from 9.11 to 20.73? When observing Mr. ED's template, the gold brackets, they define faily accurately the trends on some pair and really miss (cut in middle) of trends on
other charts. Does this EA have the ability as presently configured to strucure
setting so the trends can be defined or bracketed where price line crosses so if one wished they could have a trade on near start of trend, filter horizontal moves, and close simultaneously with trend end but establish new position when next trend is identified? Seems like one could have a trade always on a "qualified" trend, keep the lot size minimum where short trends occur and experience a high probability of being on the longer or medium trends in either direction, like in tandem? The total trend pips would far out-shadow the few small losses from single digit false trend starts. I think this will be a great EA when I figure out why I'm not getting trades?

Fabulous work Longbar,
Atlas1
  • #846
  • Sep 18, 2009 6:13am Sep 18, 2009 6:13am
Quoting Atlas1
For Longbar:
I loaded your EA, Mr. Ed's HAS indicators, and the 10 pair listed in his indicator,
set up using Strategy Tester, etc. on H4 for each pair....
Hi Atlas1,

When you go for ExitMethod=2 then you would see 2 tickets created per trading trigger. One ticket will close out when TP or SL is hit, while the 2nd ticket will do trailing stop once the 1st ticket reached TP.

As the EA runs on 4H TF and trades only on certain setup at every new bar you would likely to see low trading activity - this is how the strategy works. When you run the EA on multiple pairs then the trade activity likely to increase though.

Reading your post re the short/medium/long term trends I am not sure I can follow. Would you explain more in details?

Longbar
  • #847
  • Sep 18, 2009 1:45pm Sep 18, 2009 1:45pm
Quoting JRpips8
Hi Longbar,

I'm looking forward to having v 1.0. The ATR filter should prove useful in trading short tf's in the manner of Mr Ed's method.

#2 on my wishlist of post 765 was for an Option to "Trade opposite to signal."
I know it sounds heretical, but I've been doing more testing with M15, M30 and H1. The losses are much greater than the current H4 results. Depending on the exit method and tf, the loss rates range from 72% to 96+%. These results are on runs of 55-90 trades each test, enough to indicate some potential for this approach.
A switch...
As per JRPips8 request: the new feature of reverse the trading trigger for market entry is added, see EntryMethod=3. This feature is to check out the potential of the strategy in a reversed way. Retracement trades are disabled with this entry method.

So if you want the EA to SELL when a BUY trigger is found (or the other way around) then set EntryMethod to 3.

JR: I am looking for your feedback as what results do you experience with this upside-down approach

Longbar
Attached File(s)
File Type: mq4 MisterED_v1.1.0.mq4   50 KB | 408 downloads
  • #848
  • Sep 18, 2009 11:54pm Sep 18, 2009 11:54pm
Quoting LongBar
As per JRPips8 request: the new feature of reverse the trading trigger for market entry is added, see EntryMethod=3. This feature is to check out the potential of the strategy in a reversed way. Retracement trades are disabled with this entry method.

So if you want the EA to SELL when a BUY trigger is found (or the other way around) then set EntryMethod to 3.

JR: I am looking for your feedback as what results do you experience with this upside-down approach

Longbar

Hi Longbar,

Thanks for incorporating it. Manual trades using opposite signal show it profitable, but now with the EA I'll be able to test more tf's and not miss any trades. Much more comprehensive view. Again, thanks for providing the option.

Just to clarify, except for the retrace entry, all other trade parameters remain the same, just in the opposite direction?

I'll keep you posted with the live forward tests. I'm not much of a backtest fan, especially with MT data, even when it's scrubbed to 0 mismatched. I'll get some M15 M30 H1 results to you after 200+ trades. Should be mid week if stays like this week.

Cheers,

JR
  • #849
  • Sep 19, 2009 5:07am Sep 19, 2009 5:07am
Quoting JRpips8
Hi Longbar,

Thanks for incorporating it. Manual trades using opposite signal show it profitable, but now with the EA I'll be able to test more tf's and not miss any trades. Much more comprehensive view. Again, thanks for providing the option.

Just to clarify, except for the retrace entry, all other trade parameters remain the same, just in the opposite direction?

I'll keep you posted with the live forward tests. I'm not much of a backtest fan, especially with MT data, even when it's scrubbed to...
Yes JR, all other EA parameters should do their job as before. The only thing is the trade would happen in the opposit direction of the trigger.

Good weekend!
  • #850
  • Sep 19, 2009 2:49pm Sep 19, 2009 2:49pm
I've been studyng heiken ashi for a while now and I have to say this is a great method. By combining it with atr and trading the most profitable days has really made this a comlplete method. But it does seem to struggle when the market is ranging. This may be because of a lack of fundemental news releases? I don't know, could this be a way of filtering some trades in ranging markets or does anyone have any ideas?
  • #851
  • Sep 19, 2009 7:33pm Sep 19, 2009 7:33pm
I just wanted to say thanks for writing such a comprehensive EA for this strategy and for continuing to fix and enhance it!
  • #852
  • Sep 21, 2009 12:06am Sep 21, 2009 12:06am
Hi Longbar,

v1.1 seems to be doing its job, but I missed two things that need to be an option.

1- Change of the signal on subsequent bars currently triggers an autoclose and possible reverse trade, but that is not desired when trading opposite signal. It's frequently killing the trade just as it turns profitable. It's obviously more profitable to leave the trade running after a HAS color change because it's now going in the direction of the counter trade.
Can the close and reverse be disabled with an option?
I was doing it without realising it trading manually. Sorry I didn't let you know.

2- Can ATR and ATR/bar height ratio be recorded in Comment field? I'm trying to learn the significance of the ATR & ratio on opposite sig trades, but it's not recorded anywhere. With 100's of trades, recording manually is patchy at best. Can the Comment field have an option to add these 2 items, especially the ATR?

Best wishes,

JR
  • #853
  • Sep 21, 2009 12:14am Sep 21, 2009 12:14am
Quoting LongBar
Hi Atlas1,

When you go for ExitMethod=2 then you would see 2 tickets created per trading trigger. One ticket will close out when TP or SL is hit, while the 2nd ticket will do trailing stop once the 1st ticket reached TP.

As the EA runs on 4H TF and trades only on certain setup at every new bar you would likely to see low trading activity - this is how the strategy works. When you run the EA on multiple pairs then the trade activity likely to increase though.

Reading your post re the short/medium/long term trends I am not sure I can follow....
Hi Longbar, sorry for the delay in answer to your last query on my comment regarding the Mr. Ed EA. I observe you have quite accurate limits using the gold vertical bars for some pairs, but not all? As I study the different pairs, some bars are close to the color change delineating trend change and then on other pairs the gold vertical bars seem to cut the trend midpoint? My earlier comment was asking if this is really the way the EA works?

Is it possible to have a variation where the trends would be defined regardless of pair and consistent in both lower TF's and higher TF's? I know my concept is much simpler than Mr. Ed's, but I envisioned where the trades might be ended, that is covered when the price crosses the indicator just before the color change (indicator lag time) incorporating the ATR or SMA or some trigger point(?). Essentially, the trade would be defined just prior to color change, closed out and a reversal trade opened on the new trend. Then, when that trend signal ended a new trade would ensue in tandem fashon? Obviously the filtering mechanism, possibly as you have pre-defined, could reduce ranging wip-saw? This would allow a trade to be on every trend allowing for some gaps where horizontal price movement took place (filtered out).

It would be nice to have this option of settings as it is nice to have the reversal option No. 3 you just incorporated. Kind of an ancillary variation?

In my vision I see each entry and exit as dynamic and thus the exit
and entires are automatic T/P and S/L's and the EA would work regardless of market shifts and independently of major channel shifts.

My experience with the H4 ten pair EA is it took only two trades and the S/L on one failed as noted in the Error Message. Also, the trade day setting is set at Sun,Mon,Tue,Wed,Thu,Fri for my test run. On three charts it is blank although set correctly in both individual charts and also in the test platform of MT as well? I have no clue why the other eight pair do not trade even with the H4 lower trade incident?

Thanks again,
Atlas1
  • #854
  • Sep 21, 2009 2:20am Sep 21, 2009 2:20am
Quoting jasonphd
I've created the attached EA which I believe is making the trades correctly.

Since this was pretty quick, I only have it set to make "standard" trades and not "retrace" trades. It only takes one TP and does not make use of a trailing stop.

Can you please confirm that it is correctly making "standard" trades before I continue development?
can't open in my mt4
  • #855
  • Sep 21, 2009 2:57am Sep 21, 2009 2:57am
I have finished reading this thread. A big Thankyou to you Mister Ed for sharing your method. It's very thorough & well thought out & I think a good trustworthy system to trade, integrated with your good solid money management plan & great example of record keeping of trades. I have been trading live for a week now with all 10 pairs. Mister Ed I'm very interested in what reasons helped to shaped your choice of these 10 pairs?

Also a big Thankyou to you Longbar for genorosity in sharing. Thankyou for all your patience & hard work that has gone into creating this reliable EA. It has been performing well on demo and live trading this month. After studying the charts a lot this month I have come to one conclusion. Which is what JRPips8 has requested just 2 posts back on post 852.

JRpips8 wrote,
"Can the close and reverse be disabled with an option?
It's frequently killing the trade just as it turns profitable. It's obviously more profitable to leave the trade running after a HAS color change because it's now going in the direction of the counter trade."

Also in post 328. AZBOfin had the same idea. He wrote, "maybe an external parameter "CloseOnOppositeSignal=true/false" could make this really user friendly."

I noticed that a trade will be going well then the candle color change will occur for just 1, 2 or 3 candles at times before the trend continues. At these times the EA correctly exits the position or often tends to make a small loss by stopping and reversing. If there is an option for true/false for the close&reverse on the candle signal color change. Then like in October when trends tend to be longer the EA will have the option to stay with the trade, being able to ride out the 1, 2 or 3 candles of the opposite color before the trend continues on. Also the EURJPY 4hr chart from last week, Sept 14-18th has a nice example of this.

I have learned alot from "the bouncing pip" thread over at Forex TSD about attempting to ride the trend and more recently through a new learning adventure with R. Wyckoff, price action and P&F charts.

May God bless you and Mister Ed in your trading.
All the best.
ianlikesgolf
  • #856
  • Sep 21, 2009 7:47am Sep 21, 2009 7:47am
[quote=ianlikesgolf;3075593]I have finished reading this thread. A big Thankyou to you Mister Ed for sharing your method. It's very thorough & well thought out & I think a good trustworthy system to trade, integrated with your good solid money management plan & great example of record keeping of trades. I have been trading live for a week now with all 10 pairs. Mister Ed I'm very interested in what reasons helped to shaped your choice of these 10 pairs?

Hi Ianlikesgolf

The pairs that I have chosen have just been ones that I have arrived at over a period of time and backtesting. I believe the system can work on other pairs but these are the ones that I have got used to.

Because it is a mechanical system there will be periods of losses, that is the price to pay for not having to make judgement calls. It is possible to use other exiting systems to go with the trend longer but I have not added this in an effort to keep things as simple as possible.

Currently I am running an optimised form of taking the trades. This involves looking at all the trade signals for the past year and just trading the best days and times of day for each of the pairs. Some people may consider this curve fitting to improve results as the number of trades that the decisions are based on is small. However if I was to wait for 50 trades on GBPUSD on Monday at 8am it would take years to accumulate enough data. Some of these trades could be from several years ago and the market has evolved since then. Therefore I am just basing things on the last years data.

By doing this it improves the results by about 30%, really by avoiding some of the bad trades. The main things that is becoming apparent is that some pairs work best late in the day eg JPY pairs (probably due to trade volumes and when the markets are open) and some work best around the start and end of the week eg GBP, CAD pairs (these tend to reverse during the week and stop you out).

I would stress that it is important that you do your own back testing to reach these conclusions rather than just take my word on it.

Looking forward to a good week this week as week 4 of the month is usually steady and therefore can trend until the new months set of data causes ranging and reversals.

All the best,

Mister ED
  • #857
  • Sep 21, 2009 11:10am Sep 21, 2009 11:10am
"Currently I am running an optimized form of taking the trades. This involves looking at all the trade signals for the past year and just trading the best days and times of day for each of the pairs."


Thankyou Mister Ed your reply is very helpful for me to continue to learn your system thoroughly and apply it correctly.

Actually one of the things I like most about your system is the fact that it's mechanical and also on the 4hr chart. I'm trying my best to learn to put into practice what Mark Douglas teaches and follow the system and let the edge of the system reach its full potential.

The last two weeks especially I have been backtesting a few hours each day with trade entry and exit. I did find quite a big difference with profit by setting the TP and SL to a larger amount on some pairs ie. GBPJPY TP4 or TP 5, SL2. But one or two other months I tested TP 2 SL 2 was best. Also I found an earlier entry of 3-1-3-1 candlestick on the GBPJPY doubled the profit on some months. But it created a lot more trades and its not following the system.

The JP pairs TP2 or bigger on AUDJPY & EURJPY and SL at 2 for more breathing room. But I tested for the month of July and this year from Janurary only so far. (Thankyou for sharing about the time length and way your backtesting, very practical and effective with 30 % improvement.)

I'm starting to find month by month makes a big difference too. I think I now need to backtest each month carefully and continue to check on the results through live trading on TP for each pair each month. I'm curious about entrying on the 4 hr and staying with the daily candle trend with some pairs just for the month of October because of last year in October your results were 11199 pips due to some long trends.

Thankyou for teaching about the 4th week of the month usually being steady and trending more. I will do some backtesting for best TP for this week of each month.

My trading times over here in Japan when I sit in front of my PC are normally 1 or 2 hours before the London open and some weeks when I'm not working due to the elementary school holidays I can catch before the Japan open through to the New York open. My broker is PFGbest in the US. As far as I know its ECN. So my MT4 times for candles are US ones.

I'm following all your recommended trading days at present, but I agree with you in that it's important to backtest and reach conclusions on best days and times myself.

Trading times is probably the biggest area I need to learn about, refine upon on and backtest going forward from here. Thankyou for sharing:
"The main things that is becoming apparent is that some pairs work best late in the day eg JPY pairs"

This is a great start to check more into and work out which pairs are doing this. Are you referring to late in the day by US New York time for example?

About 1 hour before the London open for example I have noticed sometimes about a 40 pip jump up or down in the GBPJPY. I will try to check much more carefully. I'm finding the New York open tends to reverse direction on the days trend before continuing in the same direction or remaining reversed.

Its 1 am, after midnight here. Time for sleep.

Thankyou for all your help Mister Ed. Actuallly as a child growing up I liked the TV program Mister Ed. I got 2 DVDs (Best of Mister Ed) a couple of months back to enjoy it again.

All the best for your trading & family life.
ianlikesgolf
  • #858
  • Sep 22, 2009 2:06am Sep 22, 2009 2:06am
Mr Ed

The EA done for your system so far has good results only on eur/jpy and gbp/jpy 4 hour chart

G/U pair is not bad

I did not follow your trading days

The EA open trade on any day when conditions meet.

Is your system best on jpy pairs when trading manually ?
  • #859
  • Sep 22, 2009 7:58am Sep 22, 2009 7:58am
Hi

My heiken ashi is right on top my candle sticks and I can't see the candle sticks. Can someone help me with this? In the document Mister Ed has both of them seperated nicely.
  • #860
  • Sep 22, 2009 9:04am Sep 22, 2009 9:04am
Quoting Jaula
Hi

My heiken ashi is right on top my candle sticks and I can't see the candle sticks. Can someone help me with this? In the document Mister Ed has both of them seperated nicely.
Hi Jaula

Go to the charts tab and go down to foreground chart and either click it or unclick it.

Mister ED
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