Earlier tonight, I received this pm from plateman:
Hi Steve,
I've played with many EA's in the past, some quite simple and others very complicated but I've always had a gut feeling (or a fervent hope) that a very simple EA could work with the right indicator. A few weeks ago I came across a non repainting indicator called Supertrend ( downloadable from www.forexfactory.com/showpost.php?p=4187280) and I have been monitoring its operation on 6 charts (M30) which seems to show that it has some promise. The trading rules are simply when the indicator turns blue open a long then when it turns red close the long and open a short, I have changed the blue to green on my charts as it seems more natural for a long position. As it does not repaint, you can look back and reliably see what would have happened, although colour changes take place at the open of a new candle you cannot always guarantee the criminal will open your trade straight away. I think that because it does not repaint, this sometimes leads to strange lines sticking out from the main indicator line, I'm not sure what effect this would have on an EA. The only filter that I would like to try out is a switchable condition that stops a new trade being opened when the indicator line is horizontal, I havn't been able to decide whether it is better to let it trade on a flat line and take some whipsaw losses or stop the losses and suffer a later entry on a bigger move. It would also be preferable to have the parts of MPTM that you usually include in your EA's
I would like your opinion as to whether it would be worth your while coding such an EA, all the best, John.
There is nothing special about SuperTrend. All it does is consult a CCI(50) and colour an indi line red when the value is <1 (trend is falling, supposedly) and green (originally blue but sensibly changed by plateman) when the value is >1 (trend is rising, supposedly).
Calling the indi 'Supertrend' is frankly laughable. Squalou could have coded this with one hand whilst writing us a decent trading platform with his other hand. The unusual bit is the choice of 50 as the CCI period, rather than the usual 14.
I was bored, hadn't coded an ea for a couple of days and didn't want to think about anything strenuous, so I coded an auto-trader. The post in the thread linked by John's pm talks about trading the indi on EU and (I think) EJ,so I have been backtesting this robot on EU for the last year.
To my utter, blank, incomprehensible astonishment, the damn thing actually shows profits on the H1 and H4. Life will never cease to amaze me. Next thing we know, the robot will be surviving on demo - now that will be a miraculous achievement.
Ok, mockery and scorn apart, here is the system:
Hi Steve,
I've played with many EA's in the past, some quite simple and others very complicated but I've always had a gut feeling (or a fervent hope) that a very simple EA could work with the right indicator. A few weeks ago I came across a non repainting indicator called Supertrend ( downloadable from www.forexfactory.com/showpost.php?p=4187280) and I have been monitoring its operation on 6 charts (M30) which seems to show that it has some promise. The trading rules are simply when the indicator turns blue open a long then when it turns red close the long and open a short, I have changed the blue to green on my charts as it seems more natural for a long position. As it does not repaint, you can look back and reliably see what would have happened, although colour changes take place at the open of a new candle you cannot always guarantee the criminal will open your trade straight away. I think that because it does not repaint, this sometimes leads to strange lines sticking out from the main indicator line, I'm not sure what effect this would have on an EA. The only filter that I would like to try out is a switchable condition that stops a new trade being opened when the indicator line is horizontal, I havn't been able to decide whether it is better to let it trade on a flat line and take some whipsaw losses or stop the losses and suffer a later entry on a bigger move. It would also be preferable to have the parts of MPTM that you usually include in your EA's
I would like your opinion as to whether it would be worth your while coding such an EA, all the best, John.
There is nothing special about SuperTrend. All it does is consult a CCI(50) and colour an indi line red when the value is <1 (trend is falling, supposedly) and green (originally blue but sensibly changed by plateman) when the value is >1 (trend is rising, supposedly).
Calling the indi 'Supertrend' is frankly laughable. Squalou could have coded this with one hand whilst writing us a decent trading platform with his other hand. The unusual bit is the choice of 50 as the CCI period, rather than the usual 14.
I was bored, hadn't coded an ea for a couple of days and didn't want to think about anything strenuous, so I coded an auto-trader. The post in the thread linked by John's pm talks about trading the indi on EU and (I think) EJ,so I have been backtesting this robot on EU for the last year.
To my utter, blank, incomprehensible astonishment, the damn thing actually shows profits on the H1 and H4. Life will never cease to amaze me. Next thing we know, the robot will be surviving on demo - now that will be a miraculous achievement.
Ok, mockery and scorn apart, here is the system:
- CCI(50) is the indicator. You don't need it on the chart.
- Cci is currently > 1 and was <1 at the close of the previous candle:
- close an open sell trade and take a buy
- Cci is currently < 1 and was >1 at the close of the previous candle:
- close an open buy trade and take a sell
That's it. The bot will be an always-in once the first trade is sent assuming you do not use trading hours/management features. These are included as usual. There are also tp/sl inputs; the bot will override them if it detects a change of 'trend'.
I attach the risibly-named Supertrend indi so you can see how it works; like CCI, you do not need it on a chart. The bot makes all the calculations internally.
Have fun. It will be a strange day indeed if this one even gets as far as one of my demos, but have fun playing anyhow.
All I need now is for someone to send me a hat.
