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Attachments: The Small Hours Simplified!
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The Small Hours Simplified!

here is an example of a 3 bar eas system with facilities to alert emas and atrs ect so later if you want i can see the feasability of incorperating a 5 bar set up from my friends for recoding

the arrows alarms ect are already in the system


but for now im sure many ideas will come from others

thank you for your wonderful sharing of your ideas

from BRIAN
Attached Image (click to enlarge)
Click to Enlarge Name: 3 bar ea with atr settings.jpg Size: 90 KB
Yes I would be very interested in seeing how these look on my charts. I'd like to test the rules of the 5 bar breakout, when the arrow appears...absolutely Brian...bring it on!

Quoting brijon
here is an example of a 3 bar eas system with facilities to alert emas and atrs ect so later if you want i can see the feasability of incorperating a 5 bar set up from my friends for recoding

the arrows alarms ect are already in the system


but for now im sure many ideas will come from others

thank you for your wonderful sharing of your ideas

from BRIAN
Hey colostarr, just curious about moving the stops if the tp or stop hasnt been hit after the 1st bar closes once your in.

My question is this: Is it normal to increase the stop after using LL5 and going to LL3? On a buy that is. I just thought using LL3 to make your stop would tighten the stop but it seems sometimes it ends up increasing it.

Just trying to wrap my mind around it
will test 5 bar breakout with your rules manual trading using breakout 5 bar indicater and atR and emas ect next week

i know 3 bar ea works with lsma 21 but i want to see how yours works first before getting friends ivolved from my skype group
in the recoding

but i understand your concept very well and look forwood to testing it out the 5 bar breakout and expanding or contracting trading range but your idea of tying into atr is quiet clever i think

i will look forwodd to testing this very promising strategy but have not much time as im booked to go one holidays for 5 months to europe
on 23rd of march so we are busy now

keep up the great work mate

Thank you for sharing with us

from Brian
Quoting Colostarr
The results look very promising. But that comes as no surprise to me, so far every limit or stop order that triggered has at least hit TP1. Great job on this EA ido370! I can't wait until it's done!

Hope you got some good rest!
just woke up.... having some coffee now
this afternoon i'll continue on the order part of the EA. Keep in mind, that the backtest i posted was only using SMA20 and TP was always set to the second TP (entry+ATR*1.5)
So potentially it could be WAY higher yes?

Quoting ido370
just woke up.... having some coffee now
this afternoon i'll continue on the order part of the EA. Keep in mind, that the backtest i posted was only using SMA20 and TP was always set to the second TP (entry+ATR*1.5)
Hi Colostarr

I've sent you a PM.

Thanks,
Tibmas
Quoting Colostarr
So potentially it could be WAY higher yes?
yes, i suppose when it uses tp1 and tp2 with the ll3 SL it could get way higher
ColoStar, thanks for sharing your system. The thread now seems to have level out to positive contributions by all, so I will make a small contribution. Attached you will find a custom indicator that will provide signals and alerts based strictly upon your rules. Please verify that I have implemented them correctly. When you see a signal bar close, it represents the first bar of your five-bar breakout sequence. Simply place your Buy/Sell-Stop above/below the high/low of the last 5 bars and wait. You will note that the ATR multiplier is an input in the external parameters box, defaulted to your 1.5*ATR(20).

Let me bore you with my thoughts on the EA being developed. I spent my first 5 years trading forex trying to develop a successful EA. It wasn't until I decided to develop some dicipline within myself and spend time in front of the screen that I began to have success with forex. I have come to believe that the big-guys do not want retail traders to be successful en-masse with forex trading. As soon as an EA begins to demonstrate success and a lot of people are using it, one of the big banks or big players will assign an analyst to it and come up with a strategy to break it. Easy to do with this strategy -- just wait for a signal (everybody will get the same sognal) and spike the market down/up to take out everybodies stop. End of EA. All that said, the EA looks great to me.

Hope the attached indi is useful.
Attached File(s)
File Type: ex4 SamllHoursIndi.v1.0.0.ex4   10 KB | 370 downloads
Way higher is definitely a good thing!

I am logging off for a spell. Enjoying my day off! I'm stoked about your EA!!

Quoting ido370
yes, i suppose when it uses tp1 and tp2 with the ll3 SL it could get way higher
captured some small bugs have to do some shopping first, will work on right TP levels (and trailing with LL3) later this day.

Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2011-02-13 om 14.13.02.png Size: 84 KB
Hi,
I've modified EA that was given by ido370. It opens trades and moves SL to BE after first target is hit. Please feel free to make changes because I'm not a programmer and the code could be written more correctly.
This is my backtest of EURUSD from Jan 2009:
Attached Image (click to enlarge)
Click to Enlarge Name: TesterGraph.gif Size: 28 KB
Attached File(s)
File Type: mq4 SmallHours.mq4   5 KB | 161 downloads
Quoting ido370
yes, i suppose when it uses tp1 and tp2 with the ll3 SL it could get way higher
Thank you for your work ido370, and of course thank you to Colostarr to for give us this strategy.

I've tried your EA but it didn't launch any trades. Do you have any updated and funcional version?
  • Post #94
  • Quote
  • Edited 10:56am Feb 13, 2011 10:41am | Edited 10:56am
Quoting oashken1
Hi,
I've modified EA that was given by ido370. It opens trades and moves SL to BE after first target is hit. Please feel free to make changes because I'm not a programmer and the code could be written more correctly.
This is my backtest of EURUSD from Jan 2009:
Looks like we have different versions of the EA mine does end in profit in January 2009 (about 250 dollar):
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2011-02-13 om 16.41.57.png Size: 16 KB


But i do see some differences/mistakes:

-my EA has some "errors", like i didn't close the sellstop order when a buystop was placed, so its not exactly according to rules i noticed. Only when a new sellstop is placed, it deletes the old one. Same for buystops. Just some luck it have higher profits that way i guess

-your EA looks like it has some "error" to move SL to BE as quick as possible (as soon as trade is open, not when tp1 is reached), and on every tick (the whole EA btw, not checking on barclose - saves pretty much cpu time too)

I'll post my updated version tonight. Got some problems myself with the moving of the SL to BE...
I am finding this method very fascinating... One question for downtrend. Rule #2 - 2.The low of the current closed bar must be greater than LL5. Do you mean the current closed bar must be higher than LL5??

mrgintz
  • Post #96
  • Quote
  • Edited 11:25am Feb 13, 2011 11:03am | Edited 11:25am
Quoting oashken1
Hi,
I've modified EA that was given by ido370. It opens trades and moves SL to BE after first target is hit. Please feel free to make changes because I'm not a programmer and the code could be written more correctly.
This is my backtest of EURUSD from Jan 2009:
No no no, Rules in this EA only for buy operation.
My contribution in attachment.
Sorry for my bad bad english!
Attached File(s)
File Type: mq4 Small Hours_SB1.mq4   8 KB | 166 downloads
Quoting Colostarr
And generally when it does range it is outside the news release hours, so price can actually react to moving averages, pivots and trends. Which makes this system very powerful! Thank you for contributing!
Your statement "Rule #1: Have patience, let Price come to you...stop chasing it!" at the end of the post gives very powerful message. If the trader follows that everytime whenever the trade is placed either using your system or any other system, he/she will benefit a lot. Thank you !
The reason for the switch from 5 bars to 3 for the stop is to minimize your loss. Once you've moved your stop up to the LL3, there won't be a candle fall below it while your trade is open. If it does fall below where you've placed your stop, then you are stopped out, end of trade.

You initial stop is at the lowest low of the last five bars. One of 2 things will happen 1. You get stopped out on your initial stop, 2. the next candle makes a higher low, no matter the amount, you move your stop up and you keep moving it to minimize your losses first!

When the TP of your first target is hit, move stop to BE on remaining order, and then to each higher low (LL3) to preserve profit!

I hope this made sense!

Quoting pp22
Hey colostarr, just curious about moving the stops if the tp or stop hasnt been hit after the 1st bar closes once your in.

My question is this: Is it normal to increase the stop after using LL5 and going to LL3? On a buy that is. I just thought using LL3 to make your stop would tighten the stop but it seems sometimes it ends up increasing it.

Just trying to wrap my mind around it
Your insight didn't bore me one bit. As a matter of fact I appreciate it. Personally I do not plan to use an EA just my normal rules. I appreciate your contribution with the signal generator.

I will apply it to my chart and when I get time tomorrow will analyze and let you know.

I do concur with everything you've said here. The best practice is to watch and learn the markets.

I hope I haven't created a monster!

Quoting EasyRyder
ColoStar, thanks for sharing your system....
Yes the most recently closed bar / candle and yes it must be higher than the LL5

Quoting mrgintz
I am finding this method very fascinating... One question for downtrend. Rule #2 - 2.The low of the current closed bar must be greater than LL5. Do you mean the current closed bar must be higher than LL5??

mrgintz
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