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  • Post #241
  • Quote
  • Dec 5, 2014 5:48am Dec 5, 2014 5:48am
  •  stanvy
  • | Joined Aug 2014 | Status: Member | 157 Posts
hello Dave,

thanks for providing this great ea, one question though, do you know why after i install the ea and waited for 4 hours but it doesn't trigger any trade?
i try' to change tradealert from 0 to 2 but it doesnt work as well, i had enable auto trading, etc

appreciate your help here

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  • Post #242
  • Quote
  • Dec 5, 2014 7:00am Dec 5, 2014 7:00am
  •  gigicualex
  • | Joined Nov 2012 | Status: Member | 1,187 Posts
First trade on today a long UC. Price broke the consolidation area marked by the grey rectangle with the set-up candle. I entered on the 2nd green HA candle, which had all body above 5MA. Not happy with the RSI, but noticing the temp bullish momentum I took the trade anyway.
5p TP hit in a matter of seconds.

TK5, I got a question for you if I may. The below pic contains also my 5MA settings. Wondering which option from the 'Apply To' drop down menu you use. Thanks
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  • Post #243
  • Quote
  • Dec 5, 2014 7:29am Dec 5, 2014 7:29am
  •  tk5
  • | Commercial Member | Joined Aug 2013 | 699 Posts
Quoting gigicualex
Disliked
First trade on today a long UC. Price broke the consolidation area marked by the grey rectangle with the set-up candle. I entered on the 2nd green HA candle, which had all body above 5MA. Not happy with the RSI, but noticing the temp bullish momentum I took the trade anyway. 5p TP hit in a matter of seconds. TK5, I got a question for you if I may. The below pic contains also my 5MA settings. Wondering which option from the 'Apply To' drop down menu you use. Thanks {image}
Ignored
Close, of course.

guys dont trade until NFP news today.
always draw trendlines
  • Post #244
  • Quote
  • Dec 5, 2014 9:45am Dec 5, 2014 9:45am
  •  Dave_C
  • | Commercial Member | Joined Jun 2009 | 1,676 Posts
Quoting stanvy
Disliked
hello Dave, thanks for providing this great ea, one question though, do you know why after i install the ea and waited for 4 hours but it doesn't trigger any trade? i try' to change tradealert from 0 to 2 but it doesnt work as well, i had enable auto trading, etc appreciate your help here {image}
Ignored
I'm sorry to those who have had problems with the latest EA

The problem was in these 2 lines

if (Trade0Alert1Both2 == 1 || Trade0Alert1Both2 == 2) CheckForModify();
if (Trade0Alert1Both2 == 1 || Trade0Alert1Both2 == 2) CheckForClose();

I have amended them to

if (Trade0Alert1Both2 == 0 || Trade0Alert1Both2 == 2) CheckForModify();
if (Trade0Alert1Both2 == 0 || Trade0Alert1Both2 == 2) CheckForClose();

in other words check for trade modify and close only when trading is enabled not when in alert mode.

With a quick look at optimizing the EURUSD 15 min chart and without altering Take Profit or the moving averages, the following results were produced.
These figures can be improved if you alter some of the other parameters.
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Attached File
File Type: mq4 5 Pips System.mq4   13 KB | 372 downloads
  • Post #245
  • Quote
  • Dec 5, 2014 10:07am Dec 5, 2014 10:07am
  •  frani60
  • | Joined Nov 2011 | Status: Member | 117 Posts
hi guys, if someone need a good app for his smartphone or tablet look for tradeinterceptor this is unlimited and has heikin charts, because mt4 app has no heikin charts, it works for me very well, but better at the tablet because the charts are bigger

greets and many pips
  • Post #246
  • Quote
  • Dec 5, 2014 10:14am Dec 5, 2014 10:14am
  •  gigicualex
  • | Joined Nov 2012 | Status: Member | 1,187 Posts
I'd say that any future(today) buy on GU and EU are not trade-able as we'd be against the 200MA rule. Am i right?
  • Post #247
  • Quote
  • Edited at 11:36am Dec 5, 2014 10:45am | Edited at 11:36am
  •  Dave_C
  • | Commercial Member | Joined Jun 2009 | 1,676 Posts
Quoting stanvy
Disliked
hello Dave, thanks for providing this great ea, one question though, do you know why after i install the ea and waited for 4 hours but it doesn't trigger any trade? i try' to change tradealert from 0 to 2 but it doesnt work as well, i had enable auto trading, etc appreciate your help here {image}
Ignored
I had a look at the GBPNZD 15 min chart and there were no trade setups today and that is why you didn't get any trades.

The cross up earlier in the day was not supported by the RSI
The crosses down later were not supported by the 200 EMA

I suspect that your chart does not have the correct MA's and RSI being plotted.
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  • Post #248
  • Quote
  • Dec 5, 2014 10:49am Dec 5, 2014 10:49am
  •  Nico1359
  • Joined Jul 2014 | Status: Member | 235 Posts
Quoting Edlich
Disliked
Loser for me this AM too, looks to me like it was within the OP rules unless anyone else can point out something I've missed. The only thing I can think of that should have kept me out of this trade is an old phrase I heard on here called a 'Frankie fakeout' where the price appears to set off on the European open, only to stall and reverse in London. This particularly effects the European currencies and I should probably avoid signals on those until after the LO. {image}
Ignored
This exact trade, to me, exemplifies why an EA may not work so well for this. There are "gray area" considerations that the human brain must consider before taking a trade. I've lost on this exact setup before, and what I've done since is implement a "trend rule" -- if the market has just made a series of higher highs and higher lows, I won't take a short even if the other conditions are met. The same goes for lower lows and lower highs on potential long trades. Don't do it. Also, I tend to avoid trading when price is getting near the 200. I think there are better setups when there is a larger gap between the 5 and 200. Just some food for thought.
  • Post #249
  • Quote
  • Edited at 11:15am Dec 5, 2014 11:01am | Edited at 11:15am
  •  Dave_C
  • | Commercial Member | Joined Jun 2009 | 1,676 Posts
Quoting Nico1359
Disliked
{quote} This exact trade, to me, exemplifies why an EA may not work so well for this. There are "gray area" considerations that the human brain must consider before taking a trade. I've lost on this exact setup before, and what I've done since is implement a "trend rule" -- if the market has just made a series of higher highs and higher lows, I won't take a short even if the other conditions are met. The same goes for lower lows and lower highs on potential long trades. Don't do it. Also, I tend to avoid trading when price is getting near the 200....
Ignored
On looking at that chart, my feeling is that from a purely technical point of view, I would agree with you and I will talk to tk5 with a view to implementing some code within the EA to avoid such trades. The Average Trading Range is also low and this may be a factor to be considered. With the optimization I ran above, this trade would have been filtered out because of the ATR. I believe tk5 mentions ATR in an earlier post and thats why I added it into the EA.
  • Post #250
  • Quote
  • Dec 5, 2014 11:26am Dec 5, 2014 11:26am
  •  Nico1359
  • Joined Jul 2014 | Status: Member | 235 Posts
Quoting Dave_C
Disliked
{quote} On looking at that chart, my feeling is that from a purely technical point of view, I would agree with you and I will talk to tk5 with a view to implementing some code within the EA to avoid such trades. The Average Trading Range is also low and this may be a factor to be considered. With the optimization I ran above, this trade would have been filtered out because of the ATR. I believe tk5 mentions ATR in an earlier post and thats why I added it into the EA.
Ignored
Fair enough. Admittedly, I don't know a lot about EAs and what optimizations may or may not mitigate this kind of scenario.
  • Post #251
  • Quote
  • Dec 5, 2014 11:31am Dec 5, 2014 11:31am
  •  SeaTheStars
  • | Joined Sep 2014 | Status: Member | 282 Posts
Great strategy ( i donŽt call it system because you still have to use your own judgement a lot).

I traded it now for 3 weeks. Been a very nice income.

Even though Op does not want this in his thread, but:

I exit differently. Put SL at recent high/low of HA wick. And close trade when either RSI hit extreme zone (30 on short positions, 70 on long positions) or RSI PL (of the TDI indicator) hit extreme zone of 32/69), whichever happens first. Managed to get 8.44 times the amount of pips compared to exit with only the TP of 5 pips. YouŽll get stopped out more but once the trend goes your way, you cash big time. Like the old saying ...

Thanks for this OP. Nice and easy to use.
  • Post #252
  • Quote
  • Dec 5, 2014 6:32pm Dec 5, 2014 6:32pm
  •  marshalmax
  • | Joined Jul 2012 | Status: Member | 422 Posts
Quoting Edlich
Disliked
Loser for me this AM too, looks to me like it was within the OP rules unless anyone else can point out something I've missed. The only thing I can think of that should have kept me out of this trade is an old phrase I heard on here called a 'Frankie fakeout' where the price appears to set off on the European open, only to stall and reverse in London. This particularly effects the European currencies and I should probably avoid signals on those until after the LO. {image}
Ignored
I think this one falls into an earlier posting about "feel" of the market. Look at the price action prior to your signal. It is way too flat and ranging. I would not have taken this trade until price had already moved one way or another. To me this reeks of not enough volume or support for any movement either direction. In other words, buyers and sellers are both happy to have the price where it is for a while. You need to be jumping into moves not trying to predict when they happen. As much as some traders would disagree with this.
Winners add to winning trades!
  • Post #253
  • Quote
  • Dec 5, 2014 6:35pm Dec 5, 2014 6:35pm
  •  marshalmax
  • | Joined Jul 2012 | Status: Member | 422 Posts
Quoting gigicualex
Disliked
Preparing for the 1st trade of today. Watching GU for a short opportunity, need a clear rejection of 200MA. RSI already overbought, we've also got a bearish divergence. I'd like to see a nice 15M red HA closing under 5MA and if possible without top wick {image}
Ignored
Yes good set up. Keep watching.
Winners add to winning trades!
  • Post #254
  • Quote
  • Dec 5, 2014 6:48pm Dec 5, 2014 6:48pm
  •  jops
  • | Joined Oct 2014 | Status: Member | 97 Posts
Quoting SeaTheStars
Disliked
Great strategy ( i donŽt call it system because you still have to use your own judgement a lot). I traded it now for 3 weeks. Been a very nice income. Even though Op does not want this in his thread, but: I exit differently. Put SL at recent high/low of HA wick. And close trade when either RSI hit extreme zone (30 on short positions, 70 on long positions) or RSI PL (of the TDI indicator) hit extreme zone of 32/69), whichever happens first. Managed to get 8.44 times the amount of pips compared to exit with only the TP of 5 pips. YouŽll get stopped...
Ignored
SeaThe Stars can you please tell me the meaning of OP, regularly reading for months FF but dont know why up till now have not come across such meaning. Thanks in advance.
  • Post #255
  • Quote
  • Dec 5, 2014 8:26pm Dec 5, 2014 8:26pm
  •  marshalmax
  • | Joined Jul 2012 | Status: Member | 422 Posts
Quoting jops
Disliked
{quote} SeaThe Stars can you please tell me the meaning of OP, regularly reading for months FF but dont know why up till now have not come across such meaning. Thanks in advance.
Ignored
OP = Original Post or Original Poster
Winners add to winning trades!
  • Post #256
  • Quote
  • Dec 5, 2014 9:13pm Dec 5, 2014 9:13pm
  •  stanvy
  • | Joined Aug 2014 | Status: Member | 157 Posts
Quoting Dave_C
Disliked
{quote} I'm sorry to those who have had problems with the latest EA The problem was in these 2 lines if (Trade0Alert1Both2 == 1 || Trade0Alert1Both2 == 2) CheckForModify(); if (Trade0Alert1Both2 == 1 || Trade0Alert1Both2 == 2) CheckForClose(); I have amended them to if (Trade0Alert1Both2 == 0 || Trade0Alert1Both2 == 2) CheckForModify(); if (Trade0Alert1Both2 == 0 || Trade0Alert1Both2 == 2) CheckForClose(); in other words check for trade modify and close only when trading is enabled not when in alert mode. With a quick look at optimizing the EURUSD...
Ignored
thanks Dave,

is working now, does this compatible with 5 decimal broker, i tried to change StopWin = 70, it set tp to 300 instead of 70 pipette

appreciate your reply here
  • Post #257
  • Quote
  • Dec 5, 2014 9:50pm Dec 5, 2014 9:50pm
  •  Dave_C
  • | Commercial Member | Joined Jun 2009 | 1,676 Posts
The EA is compatible with 5 digit brokers.

StopWin of 70 of a Buy Order means an increase 70 pips

ie. Buy at 1.2300 Take Profit at 1.2370

Your $ profit is dependant on number of lots.
  • Post #258
  • Quote
  • Dec 6, 2014 12:34am Dec 6, 2014 12:34am
  •  stanvy
  • | Joined Aug 2014 | Status: Member | 157 Posts
Quoting Dave_C
Disliked
The EA is compatible with 5 digit brokers. StopWin of 70 of a Buy Order means an increase 70 pips ie. Buy at 1.2300 Take Profit at 1.2370 Your $ profit is dependant on number of lots.
Ignored

Thanks Dave, should i change atr = 50 as below?

ATRLookback = 50
MinATRPips = 50
  • Post #259
  • Quote
  • Dec 6, 2014 1:18am Dec 6, 2014 1:18am
  •  jops
  • | Joined Oct 2014 | Status: Member | 97 Posts
Quoting marshalmax
Disliked
{quote} OP = Original Post or Original Poster
Ignored
thanks mate, copied. have a nice weekend.
  • Post #260
  • Quote
  • Edited at 10:29pm Dec 7, 2014 12:04am | Edited at 10:29pm
  •  Dave_C
  • | Commercial Member | Joined Jun 2009 | 1,676 Posts
Quoting stanvy
Disliked
{quote} Thanks Dave, should i change atr = 50 as below? ATRLookback = 50 MinATRPips = 50
Ignored
That would mean that the average price range would have to be half a cent ie. 50 pips over the last 50 periods ie 12.5 hours on 15 min chart.

For example:- The backtest optimization I ran on the 15m EURUSD for this year gave values of ATRLookback = 8 and MinATRPips = 13
(an average trading range of 13 pips over the previous 2 hours). Post 244 refers.

I have run a further optimization where I extended the end values of ATRLookback and MinATRPips out to 100 and also optimized the start trading and end trading times and the results are below. The best figures were for an average of 5 pips per bar over 75 periods ie. 18 hrs. 45min.

I've made some small changes to the EA and I enclosed the latest update.
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Name: Magic 5 Pips Report.JPG
Size: 66 KB
Attached File
File Type: mq4 5 Pips System.mq4   14 KB | 230 downloads
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