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Simple Breakout System By Zach

  • #361
  • Jun 27, 2017 3:04am Jun 27, 2017 3:04am
I had the EA active on GJ, EJ, CJ, GC today. All pairs hit TP1 ☺
  • #362
  • Jun 27, 2017 4:45am Jun 27, 2017 4:45am
Quoting damiend
I had the EA active on GJ, EJ, CJ, GC today. All pairs hit TP1 ☺
hi damiend, it's good EA.. with erollzach system...

i did download and use it, but my MT4 didn't process the order, and sometimes look doesnt work correctly? about rectangle and fibo? please help me to fix ?
Attached Image (click to enlarge)
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  • #363
  • Jun 27, 2017 7:30am Jun 27, 2017 7:30am
Quoting damiend
Hi Gemmafx, Thanks for your feedback ! I'm making some tests in demo and some backtests these days, I will post some results.
hi damiend
may you say to me what is EA and how i can download it?
thank you
  • #364
  • Jun 27, 2017 8:05am Jun 27, 2017 8:05am
Quoting Tfr
{quote} hi damiend, it's good EA.. with erollzach system... i did download and use it, but my MT4 didn't process the order, and sometimes look doesnt work correctly? about rectangle and fibo? please help me to fix ? {image}
Hi Tfr,

Please use the latest version (1.2) from there: https://www.forexfactory.com/showthr...43#post9994643
You are using the v1.1 that contains some bugs.
  • #365
  • Jun 27, 2017 8:06am Jun 27, 2017 8:06am
Quoting mohseni
{quote} hi damiend may you say to me what is EA and how i can download it? thank you
Hi mohseni,
You can download it and get some info from this post : https://www.forexfactory.com/showthr...43#post9994643
  • #366
  • Edited 11:48am Jun 27, 2017 11:13am | Edited 11:48am
Quoting damiend
{quote} Hi Tfr, Please use the latest version (1.2) from there: https://www.forexfactory.com/showthr...43#post9994643 You are using the v1.1 that contains some bugs.

thanks so much damiend, you're both (damiend & erollzach) is good contributor.. please don't stop.. and keep creative.. i would test new EA...


it's helpful...


BTW, i have an idea if you can add fibo as opposite current fibo... so it would be sell and buy fibo and adding a parameter to manage the sell and buy order.. i had try it by manual and i got my sell and buy profit nicely on EURJPY


note; btw still have an little error on gold / xauusd


Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot2.png Size: 32 KB
  • #367
  • Jun 27, 2017 12:12pm Jun 27, 2017 12:12pm
Thanks Tfr for your contribution ☺

Allowing the EA to trade two times a day (one buy and one sell) could be a nice feature ! It may help us to recover from a false breakout.
I think I will implement it in the next version.

What is your error on gold exactly?
  • #368
  • Jun 27, 2017 1:24pm Jun 27, 2017 1:24pm
Quoting damiend
Thanks Tfr for your contribution ☺ Allowing the EA to trade two times a day (one buy and one sell) could be a nice feature ! It may help us to recover from a false breakout. I think I will implement it in the next version. What is your error on gold exactly?
i think so...


i did applied to gold and i didn't see the fibo, but when i did applied to other forex is appeared
  • #369
  • Jun 27, 2017 10:23pm Jun 27, 2017 10:23pm
ErollZach, I have been trading this system for quite awhile now as well. I made an excel sheet that I used in forward testing to test my take profit levels, and which trades hit the 161 fib line. All of my take profits were 10 pips, but tracked which ones moved further. If you are interested, or anyone else for that matter, just let me know. I can also modify the excel for anyone's liking to my ability. It tracks number of fibs drawn, number of fibs that broke and opened a trade. wins. losses. drawdown. profit. loss. account balance. account balance % change, whether negative or positive. You do have to manually input your trade and take profit prices, as well as how much was won or lost on each trade.
  • #370
  • Jun 29, 2017 3:58am Jun 29, 2017 3:58am
Quoting bromanbdc
ErollZach, I have been trading this system for quite awhile now as well. I made an excel sheet that I used in forward testing to test my take profit levels, and which trades hit the 161 fib line. All of my take profits were 10 pips, but tracked which ones moved further. If you are interested, or anyone else for that matter, just let me know. I can also modify the excel for anyone's liking to my ability. It tracks number of fibs drawn, number of fibs that broke and opened a trade. wins. losses. drawdown. profit. loss. account balance. account balance...

interesting method to get statistic.u can post it here for our data collection to get higher percentage on profit
  • #371
  • Jun 30, 2017 1:08am Jun 30, 2017 1:08am
i have a some problem, usually i did get out at fibo level 50 but, after hit SL, the price run to the level 161... so the price only pullback at level 50 and continue the direction

and second problem is too many false breakout... when i did entry to ensure breakout it would be late, and only give me around 3 pip, but when i did stop order at level 100 fibo, it would be false breakout. T____T

maybe someone could help?
  • #372
  • Jun 30, 2017 5:09am Jun 30, 2017 5:09am
Quoting Tfr
i have a some problem, usually i did get out at fibo level 50 but, after hit SL, the price run to the level 161... so the price only pullback at level 50 and continue the direction and second problem is too many false breakout... when i did entry to ensure breakout it would be late, and only give me around 3 pip, but when i did stop order at level 100 fibo, it would be false breakout. T____T maybe someone could help?

can u screenshot the false breakout?normally happen to which pair?
  • #373
  • Jun 30, 2017 9:35pm Jun 30, 2017 9:35pm
Quoting ErollZach
Hi Guys I would like to share the most simple breakout strategy: MOST SUIT:INTRADAY TRADER PAIR:GBP/JPY GBP/USD USD/JPY EUR/JPY EUR/USD GBP/CHF USD/CHF NZD/USD CHF/JPY BOX:GMT 9PM-5AM(8 HOURS) TP:161.8 Fibonacci Support&Resistance BOX(THIS IS A MINIMUM TP) SL:50 Fibonacci Support&Resistance BOX RULES LONG:ANY BULLISH CANDLE THAT BREAK RESISTANCE(EARLY SIGNAL) SHORT:ANY BEARISH CANDLE THAT BREAK SUPPORT(EARLY SIGNAL) TIMEFRAMES:M15 ENTRY: INSTANT ENTRY ON BREAKOUT 100 FIBONACCI PO @ 100 FIBONACCI PO @61.8 FIBONACCI TP:161.8 Fibonacci Support&Resistance...
Zach i dont know if you have pictures of your trades but look to see what were the differences between trades that had reversal at 38.2;50;61.8 versus take profit. When I was trading it, some would go past 161.8, 138.2, 261.8 and 400+ that is four take profits. I had almost started a thread for this reason... My case is that I could not get the true alerts for Mtf scenario just same chart timeframe. So I probably start it to get that sorted. It's already integrated in my system but that indi would be great.

So so when I start this can also help here too. Cheers!
R:R "Percentage Focus"
  • #374
  • Jun 30, 2017 9:37pm Jun 30, 2017 9:37pm
Quoting bromanbdc
ErollZach, I have been trading this system for quite awhile now as well. I made an excel sheet that I used in forward testing to test my take profit levels, and which trades hit the 161 fib line. All of my take profits were 10 pips, but tracked which ones moved further. If you are interested, or anyone else for that matter, just let me know. I can also modify the excel for anyone's liking to my ability. It tracks number of fibs drawn, number of fibs that broke and opened a trade. wins. losses. drawdown. profit. loss. account balance. account balance...

I am interested my new thread will need it. It will benefit everyone in the end. Cheers!
R:R "Percentage Focus"
  • #375
  • Jul 1, 2017 11:42pm Jul 1, 2017 11:42pm
I have posted it here. I have been following your thread as well prince. The spreadsheet can be modified as needed as well to account for different fib levels and such.
Attached File(s)
File Type: zip Fib Trade Tracker With Set Stop Loss.zip   375 KB | 895 downloads
File Type: docx Instructions for use of the Fib Trade Tracker.docx   15 KB | 792 downloads
  • #376
  • Jul 1, 2017 11:45pm Jul 1, 2017 11:45pm
I also have a version that included if price pulled back to a certain fib level, like say the 61.8. I can combine that with the one already uploaded to make one if you would like.
  • #377
  • Jul 1, 2017 11:51pm Jul 1, 2017 11:51pm
on another note, I forgot that this is for a 5 digit broker. I can also include an option for a choice on the spreadsheet to choose 4 or 5 digits. Or just make a seperate sheet all together for anyone not on a 5 digit broker. Just some thought.
  • #378
  • Jul 3, 2017 7:36pm Jul 3, 2017 7:36pm
Quoting bromanbdc
I have posted it here. I have been following your thread as well prince. The spreadsheet can be modified as needed as well to account for different fib levels and such. {file} {file}
thank you for the file!!!i hope a lot of trader here will have a benefit from it
  • #379
  • Jul 3, 2017 7:45pm Jul 3, 2017 7:45pm
You all are very welcome. I cannot help much, but will help where I can. Just let me know if anyone needs something changed or added. I do have the new version that gives the option of 4 or 5 digit broker. Not sure if anyone needs it. If so, I will give that as well.
  • #380
  • Jul 3, 2017 7:49pm Jul 3, 2017 7:49pm
Also, my apologies. I found a discrepancy in the instructions. The stop loss for this particular one is at the bottom right. If you need a stop loss of 50 pips, then you would put 50 in the cell next to Stop Loss. It will automatically put the stop loss price in the stop loss column for the traded pairs. For the new version, I have also added the 61.8 retracement to go with the 161.8 fib line. Let me know if you would like me to upload that. It is the same one that has the 4 or 5 digit broker choice.
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