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AF, we are on the same page. As far as I know the Days Back settings just adjusts how many past artifacts will show on your screen as a way to cut down on CPU usage. I don't know of any way that this setting changes the size, number, or quality of the CZ's. That work is done by the first 7 settings within the parameters window.

Correction: Just did some testing of my own. I can see whay AF is confused with my answer. It does limit the number of past artifacts (as it should), but it does so while overriding the other values. So even if the ATR setting is 100, it will override that value to what ever number the Days Back line is set for. This is a bug. All of these values should remain true no matter what the Days Back line says. All that setting should do is limit the CPU usage and nothing more. I'll be reporting this to Squalou as soon as he gets back.

So AF, just set this to zero. It doesn't help with anything right now. And thanks for helping to spot the bug!
To improve is to change. To perfect, is to change often.
G/U and E/U are both showing money tonight. Jump on it guys. Come back tomorrow and tell us how it went...
To improve is to change. To perfect, is to change often.
Quoting forexhard
This is from yesterday's G/U M15.

The first 3 breakouts (red circles) did not qualify.

Entered Long at the 1st green arrow, which went into very mild and expected DD of approx 25 pips (blue box) before finding it's direction. Closed at 2nd arrow for 38 pips.

This is an absolutely typical breakout scenario.
FH - thanks for a great thread. Looking at your GU M15 chart, I'm wondering why you rejected the first circled short breakout? To my (admittedly myopic) eye the setup looks identical to the long you entered on.
Great, 60 pips in the bank
Hi all.

Attached are my settings for GBPUSD. BTW, I'm using this method in conjunction with my own set of break-out guidelines. Helps me confirm where the real S/R levels are. I know FH recommends finding our own tweaks per pair, but I'm using the same settings for all the pairs I trade, while only tweaking my position sizes depending on where my stops are.

That's just me.

I reduced the box length to 16 for the M15 TF. Since I'm switching the AutoBoxRange to True, I suppose BoxRange is irrelevant (?).

I set the ATR period to 75 just to see what's what. Looks pretty good.. and made a few bucks besides. Thanks FH!

One observation: I set DaysBack to 5 instead of zero. My MT4 app is just plain unresponsive when this setting is set to zero. Plus I don't think Daysback=5 skews my results any which way anyways. Maybe my PC is not up to snuff?

My 2 cents.

Thanks FH for a nice set of guidelines.

Regards,
Imran

Quoting forexhard
So AF, just set this to zero. It doesn't help with anything right now. And thanks for helping to spot the bug!
Attached Image
I'm not trying to convince anyone. I'm not in the "convincing" business.
Quoting Swg123
FH - thanks for a great thread. Looking at your GU M15 chart, I'm wondering why you rejected the first circled short breakout? To my (admittedly myopic) eye the setup looks identical to the long you entered on.
one of the rules of the "stairstep breakouts" system is that 2 candles close beyond the buffer zone
Sorry for my english
Quoting imranyusof
One observation: I set DaysBack to 5 instead of zero. My MT4 app is just plain unresponsive when this setting is set to zero. Plus I don't think Daysback=5 skews my results any which way anyways. Maybe my PC is not up to snuff?
Your PC is fine. I had the same problem. I thought my pc locked up the first time I opened this indi. If I waited long enough it came back. Then I found the DaysBack setting which solved it.

The default setting for DaysBack is 0. DO NOT LEAVE IT ON THIS SETTING! A setting of 0 tells it to draw boxes for all the data on your chart, all the way back to the first date. on my MT4 M15 chart for EU, the first data is Jan 4, 1999. So it has to make calculations and draw boxes for 12.5 years of M15 data. This will take a while on any PC and makes it look like it's locked up.

The DaysBack setting tells the indi to perform the calculations for "DaysBack" days prior to today. Another way to say it: it tells the indi to draw boxes on your chart only for "DaysBack" days prior to today. So if you change this setting to a number, it only makes calculations and draws boxes for that number of days.

Perform the following simple test to clearly confirm all this. Set DaysBack to 30, then scroll your chart back. Today is Aug. 23, so you won't see any boxes prior to July 24.

Now change it to 60 and scroll back. You will see no boxes drawn prior to June 24 (60 days ago).

Make sure you compare the boxes it drew for both 30 and 60 settings. You will quickly confirm that they are all identical and unaffected by this setting.

This setting has NO EFFECT on the size or shape of the boxes it draws. It is NOT related to the ATR setting in any way. It does NOT override any ATR settings and does NOT change ATR calculations. It's NOT a bug, it works perfectly as I just described it.

This setting determines ONLY THE TIME PERIOD for which the indi draws the boxes. It DOES NOT change HOW it draws them.

So set your DaysBack to, say, 90 days or 180 days to draw boxes over the last 3-6 months. That's what I'm doing.

Hope this helps!
Luck occurs when preparation meets with opportunity.
Quoting blackhaus
one of the rules of the "stairstep breakouts" system is that 2 candles close beyond the buffer zone
Sorry for my english
Well I thought so too but look at the chart!

Edit: I was thinking the green arrow pointed to the first candle to close above the buffer, but I now see that entry could be at the close of the following doji.

Told you, myopic!
Quoting forexhard
Correction: Just did some testing of my own. I can see whay AF is confused with my answer. It does limit the number of past artifacts (as it should), but it does so while overriding the other values ... This is a bug... So AF, just set this to zero. It doesn't help with anything right now. And thanks for helping to spot the bug!
First: WARNING TO OTHERS: Do NOT set this indi to zero. This is the default setting but it will make your PC appear to lock up. See my previous post for the reason.

FH: Thanks for trying to work this out. Correction: I am not the least bit confused, nor have I been since I first posted my question to you. If your answer is confusing, it is because you do not understand this setting in this indi.

Please check my previous post for a thorough expanation. I understand that you are not a programmer and these concepts can sometimes be difficult to grasp. If you still think it's a bug you can confirm with Squalou when he returns.

The DaysBack setting does indeed limit the number of boxes drawn, but only indirectly. It does so by limiting the number of days for which it draws boxes, NOT by changing ATR calculations. It doesn't override any other values.

It also has another indirect affect of limiting PC load, as explained in my previous post.

Perform the test I wrote outlined for you and I'm sure you will get it then.
Luck occurs when preparation meets with opportunity.
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Hello to everyone and Forexhard

I am new to to Forex Factory and don't normally sign up to chat rooms and forums but came across this thread last week and when I started to read it I could not stop..

Forexhard has shown us the light here and all we need to do is walk towards it and there are riches at the other side..

I have been trading breakouts for a while now but different from this style, having said that I have something in common with FXhard as we both like our charts as naked as possible, I hate indicators with flashy colours that tell me whats just happend to the price. I only want to know whats happening now..

I am lucky enough to have completed a course with the London Stock Exchange and never did I see coloured flashy indicators only facts and figures and price movement..But I am not too proud to learn more about forex as I believe you never stop learning this trade and forex is always evolving and people like forexhard are rare to come by so my hat goes off to this guy..I find this approach to trading very interesting and would like to incorporate this into my daily trading..

If I can offer my help I will. I do run my own business in retail and I get very busy at times so can not always be here..

I don' Know what forexhard thinks but it would be great to see more charts of prople trading this so we can master this much quicker by getting a collection of charts to analyse

I normaly only trade GBP/USD EUR/USD but I am open to expand

I have attached what I think is a valid trade from this morning trading aroung 44 pips. If held on there were more pips to be had from this later in the day.

Happy trading everyone
Thank You James16, Fijitrader, Dialist, Mbqb11, ghous, Pinbar and Jarroo
Hi Forexhard,

I`m from the netherlands and i like your system very much! It helped me alot.

Thnx

Rob
Todays G/U Chart



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Thank You James16, Fijitrader, Dialist, Mbqb11, ghous, Pinbar and Jarroo
I see the same thing , and it back to the box again..wonder if it'll bounce back..

Good luck !
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E/U M15
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Everyone: To ease any confusion, just set the Days Back line at "100". This will become our default value for this parameter. I don't see any need for making it bigger, and there are drawbacks for making it smaller. But if any of you knows of a reason why it should be bigger than 100, don't hesitate to speak up.
To improve is to change. To perfect, is to change often.
The only reason is for back testing. IBFX on the 15m chart only goes back to November last year anyway so a stting of 0 is OK
Quoting Seabreeze
Attachment 769249

Hello to everyone and Forexhard....Forexhard has shown us the light here and all we need to do is walk towards it and there are riches at the other side....
I am lucky enough to have completed a course with the London Stock Exchange....
Seabreeze, welcome aboard, and thanks very much for all the kind words. If you had to pick just one chat room to enter, I'm glad it was mine.

Please tell us more about your experience with the stock exchange. I'm sure I'm not the only person around here that would like a glimpse into how the Big Dogs do things.
To improve is to change. To perfect, is to change often.
That should be "setting"
Quoting johnvr
The only reason is for back testing. IBFX on the 15m chart only goes back to November last year anyway so a stting of 0 is OK
Same with me. Zero was working great. But it looks like some guys were hitting a wall. So just to keep things even and to avoid confusion in the future, I think it will be OK to have a default of 100. I don't see how it can hurt, and not having it has already caused some problems, so why not try it out for a while? We can always modify it again later if it proves unsuccessful.
To improve is to change. To perfect, is to change often.
Quoting Swg123
FH - thanks for a great thread. Looking at your GU M15 chart, I'm wondering why you rejected the first circled short breakout? To my (admittedly myopic) eye the setup looks identical to the long you entered on.
Swg, this question has been dealt with at least 10 times in the thread, so I'm getting the impression that you haven't read from the beginning. Please do. It will only take you about 4 hours, and it will be time well spent. See you on the other side....
To improve is to change. To perfect, is to change often.
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