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Hanover - can you help me with MT4 qs please? 4 replies

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Hanover replies to PMs

  • #721
  • Jul 9, 2017 9:26pm Jul 9, 2017 9:26pm
Quoting hanover
{quote} I just noticed that your indicator uses the ArraySetAsSeries() command, which apparently has the capability of reversing the sequencing (i.e. from left to right, or right to left). I've never used this before, but I expect that it explains why both indicators are giving the same result. Hence I'm unable to answer your original question, as I don't know which candle MQL4 sees as the "first" candle . Ignore my previous comments; I apologize for the gaps in my knowledge.
Hanover, you are correct. ArraySetAsSeries=false reverses the index. In the case of this specific indicator, all of the rates arrays and indicator buffers are set to index from left to right. Ie. the first bar/ 0bar = oldest bar/earliest date/first bar from left to right.

This is a very simple code block... the first pass ExtOpenBuffer[0]=open[0];

Definitively the first candle == SeriesInfoInteger(Symbol(),Period(),SERIES_FIRSTDATE))

Botman this is the only answer.

Inserted Code
ArraySetAsSeries(time,false);
if(time[0] == SeriesInfoInteger(Symbol(),Period(),SERIES_FIRSTDATE))
      Print("Bar Time[0] = ",time[0]);
  • #722
  • Jul 10, 2017 2:33pm Jul 10, 2017 2:33pm
Quoting Botan626
{quote} I will continue to seek for the answer and I will let you know it. Thank you for your help.

The calculation for HA candles starts from the very 1st standard candle on the chart, though the 1st plotted HA candle will be in the place of 11th standard candle.


For the 1st calculated HA candle open price = 0, the low is thereafter the same 0. High and close are calculated using their corresponding HA formulas.


For the 2nd HA candle OHLC values are calculated using their corresponding HA formulas, and so on.
  • #723
  • Jul 10, 2017 3:04pm Jul 10, 2017 3:04pm
Quoting Nicholishen
ArraySetAsSeries=false reverses the index........
Thanks for the info.

Quoting Botan626
The calculation for HA candles starts from the very 1st standard candle on the chart.........
Thanks for the info.
  • #724
  • Jul 11, 2017 1:41pm Jul 11, 2017 1:41pm
Hi Hanover,
Your math background is much better than mine so I was wondering if you could kindly help me with this little (?) trading puzzle: suppose I had a trading method that could produce 60% wins on a 1:1 risk/reward ratio. It may be shown that risking 20% per trade would generate the biggest long term return, according to the Kelly Criterion. But the drawdowns for this risk level may be very hard to stomach. I think in practice, from a psychological point of view, I should take a fraction of this "optimum" risk. But what I would like to know before setting "my" ideal risk is the "risk profile" of the method (what is the probabiliy of undergoing 5% drawdown, 10%, 15% and so on). This is similar to Myfxbook "Risk of Ruin" feature, but that one looks a bit weird to me as, if I am not mistaken, they consider the risk of ruin as the probability of taking n losses in a row, compounding to a certain loss, looking like they disregard the possibility of alternating profits and losses, distorting the estimated probability. My doubt could be formulated this way too: "What is the expected drawdown if I risk x% per trade?". I cooked a solution (still evaluating if it is valid) to estimate the probability of x% drawdown in one single trade, but I suppose it is not the same probability of undergoing that same % drawdown in an indefinite series of future trades. Thanks in advance for any help. Best regards.
  • #725
  • Edited Jul 12, 2017 2:24am Jul 11, 2017 4:50pm | Edited Jul 12, 2017 2:24am
Quoting Jairo
I was wondering if you could kindly help me with this little (?) trading puzzle........
Jairo,

A good question that I've also wanted an answer to myself. I've done a lot of searching on the internet and reached the conclusion that there's no clear cut formula for risk of drawdown -- there are too many variables -- hence the only way is to run Monte Carlo like simulations. This trader has apparently reached a similar conclusion; also Dr Mike Shackleford (whose PhD is in math) makes a similar comment about calculating ROR in the 'Methodology' section here.

I did have a formula for risk of ruin (as opposed to risk of drawdown -- the difference is explained here) but I can't find it now (see note 1 below). I recall that it gave different results to those given by myfxbook, whose formula I suspect may be incorrect, although there may be different ways of calculating ROR (note 2), I'm not sure.

Anyway, here and here are two MC simulation curve generators, and here, here, here and here are some ROR/ROD calculators, and accompanying explanations. No doubt Google can find many more.

Here are some ROR tables (from Chris Capre of 2nd skies forex).

Sorry I can't be more helpful. I will add more links to this post if I find relevant info within the allowable/next 24 hours.

David
_________________________
[EDIT]
Notes:
1. I just found this, and I think the ROR formula I had was the same as Kaufman's (see the 'Some Calculations' paragraph here). Ralph Vince takes Kaufman's formula (incorporating ave win/loss sizes) a step further here -- note how much more complex the math becomes.

2. Here is a different formula for calculating ROR. And a couple more here. Another formula, calculator and more info here.

3. Some additional links in this thread.
  • #726
  • Jul 12, 2017 5:32am Jul 12, 2017 5:32am
You are FAR too clever for this place D...

Hope you are well!


Quoting hanover
{quote} Jairo, A good question that I've also wanted an answer to myself. I've done a lot of searching on the internet and reached the conclusion that there's no clear cut formula for risk of drawdown -- there are too many variables -- hence the only way is to run Monte Carlo like simulations. This trader has apparently reached a similar conclusion; also Dr Mike Shackleford (whose PhD is in math) makes a similar comment about calculating ROR in the 'Methodology'...
In life you get 3 types of people, those who can count and those who can't.
  • #727
  • Jul 12, 2017 6:16am Jul 12, 2017 6:16am
Quoting hanover
{quote} Jairo, A good question that I've also wanted an answer to myself...
Hi David,

Thank you very much for the detailed reply. As I am a slow learner, it will take time for me to grasp it all. In the meantime, I'll keep trying to find my "ideal risk level" (if I have any) in small incremental steps from below. Thanks again and "may the pips be with you".
  • #728
  • Jul 12, 2017 2:44pm Jul 12, 2017 2:44pm
Quoting HedgePiglet
You are FAR too clever for this place D... Hope you are well! {quote}
Great to hear from you HP, I think about you guys often, and wonder how your business is progressing. I'd love to catch up some time -- it's always inspirational to converse with REAL traders -- but I know you're very busy, and I respect that. Very best wishes to you from me.

Quoting Jairo
{quote} Hi David, Thank you very much for the detailed reply. As I am a slow learner, it will take time for me to grasp it all. In the meantime, I'll keep trying to find my "ideal risk level" (if I have any) in small incremental steps from below. Thanks again and "may the pips be with you".
Goes without saying that it's always best to err on the side of caution, if you're trading a serious size account. May the pips be with you also.
  • #729
  • Jul 12, 2017 2:48pm Jul 12, 2017 2:48pm
Quoting hanover
{quote} Great to hear from you HP, I think about you guys often, and wonder how your business is progressing. I'd love to catch up some time -- it's always inspirational to converse with REAL traders -- but I know you're very busy, and I respect that. Very best wishes to you from me. {quote} Goes without saying that it's always best to err on the side of caution, if you're trading a serious size account. May the pips be with you also.
Long time - see you still keeping the forum alive !
  • #730
  • Jul 12, 2017 4:20pm Jul 12, 2017 4:20pm
Good to hear from you Hanover, its been like 3 years since i looked at a chart last, i quit trading decided to take a short visit here. Keep up the good work man
  • #731
  • Jul 12, 2017 7:12pm Jul 12, 2017 7:12pm
Quoting claudia1
Long time - see you still keeping the forum alive !
Just for you.
Attached Image
  • #732
  • Jul 12, 2017 7:13pm Jul 12, 2017 7:13pm
Quoting francisakz
Good to hear from you Hanover, its been like 3 years since i looked at a chart last, i quit trading decided to take a short visit here. Keep up the good work man
Thanks for stopping by.
  • #733
  • Jul 13, 2017 4:35am Jul 13, 2017 4:35am
Why do I always feel a bit like a celebrity when David quotes me on here...


Quoting hanover
{quote} Great to hear from you HP, I think about you guys often, and wonder how your business is progressing. I'd love to catch up some time -- it's always inspirational to converse with REAL traders -- but I know you're very busy, and I respect that. Very best wishes to you from me. {quote} Goes without saying that it's always best to err on the side of caution, if you're trading a serious size account. May the pips be with you also.
In life you get 3 types of people, those who can count and those who can't.
  • #734
  • Jul 16, 2017 6:50am Jul 16, 2017 6:50am
Greetings....
I have mql4 question, hope can advise me.

i need to get the datetime for specific candle.

example 1: datetime dt1 = candle[0]; printf(dt1);

example 2: datetime dt2 = candle[15]; printf(dt2);

example 2: datetime dt3 = candle[17]; printf(dt3);

I need to find out those candle datetime, how to code it wisely.

Regards
Thank you in advance.
  • #735
  • Jul 16, 2017 7:19am Jul 16, 2017 7:19am
Quoting joelloh
I have mql4 question, hope can advise me.
Inserted Code
  datetime dt1 = Time[0];
  datetime dt2 = Time[15];
  datetime dt3 = Time[17];
  // MT4 stores the value as a number of seconds after midnight on 1/1/1970
  // to extract the date/time, do something like:
  string date1 = TimeToStr(dt1,TIME_DATE);                      // returns something like "2017.07.17"
  string time1 = TimeToStr(dt1,TIME_MINUTES);                   // returns something like "13:55"
  string dateandtime1 = TimeToStr(dt1,TIME_DATE|TIME_SECONDS);  // returns something like "2017.07.17 13:55:30"
See datetime, TimeToStr()
  • #736
  • Jul 16, 2017 12:23pm Jul 16, 2017 12:23pm
i dont know much abt these programming language , i will pm you mr hanover


thanks for ur progamming infos
  • #737
  • Jul 17, 2017 5:52am Jul 17, 2017 5:52am
Which indicator is the best for identify divergence?
  • #738
  • Jul 17, 2017 12:02pm Jul 17, 2017 12:02pm
Quoting evgeny22
Which indicator is the best for identify divergence?
IMHO no technical indicator is better than another, nor is one set of parameter settings necessarily better than other. It is case of finding one that tests to the point that you're satisfied that it's on-balance profitable in the way that you're using it (entries+exits), and then becoming expert in its use. The only exception might be if enough heavyweight traders all use an indicator in a certain way that creates self-fulfilling prophecy (for example, a lot of traders apparently look at a 200 MA on the daily TF -- that's a general comment about indicators, not specifically divergence).

Indicators are derived from price. Oscillator divergence indicates that price is decelerating. Price must decelerate before it reverses, but not every deceleration results in a decent reversal....... explained in more detail here. You'll find some interesting answers in that thread, and also here, here, here (also includes a readers poll), and no doubt many others if you Google your question (e.g. "what is the best indicator to show divergence?").

I don't trade divergences myself, so it is probably better to get the opinions of those who do. But you asked for my opinion so I gave it, FWIW
  • #739
  • Jul 17, 2017 5:09pm Jul 17, 2017 5:09pm
Hi David,
I hope I am not annoying you with "yet another little trading puzzle": do you know if (or believe) there is an "ideal" (mathematical) share of profits to be earned by a person who trades other people's money on a profit sharing only basis or is it just a matter of market supply/demand for this kind of agreement? I think 50/50 is unfair because all the risks are on the investor while the trader risks nothing (besides his/her reputation). Maybe the "fair share" should depend on the amount traded, trader proficiency or some other criteria. Weird question.. Thanks in advance.
  • #740
  • Jul 17, 2017 6:09pm Jul 17, 2017 6:09pm
Quoting Jairo
do you know if (or believe) there is an "ideal" (mathematical) share of profits to be earned by a person who trades other people's money on a profit sharing only basis or is it just a matter of market supply/demand for this kind of agreement?
FWIW I agree with your point that the party who's taking the financial risk should be compensated for doing so, and their share of profit should reflect that. But ethically, I don't think there's an absolutely right or wrong answer to your question. If the investor is unhappy with the terms and conditions being imposed by the fund manager, then he can always look for another manager, i.e. the supply/demand arrangement that you mention.

As an investor, I believe that it's fairer to pay the manager based on the manager's performance, rather than a fixed fee. For example, I would rather pay 50% of profits above the previous high watermark, and no fixed fee; than (for example) 30% of profit, and a 2% fixed annual fee. That way, when the manager loses money, he earns nothing, which gives him incentive to consistently deliver the best possible result.

I believe your question is similar to that with R&D projects involving scientists and a financial backer. The scientists can't perform their R&D without the necessary money; and without the scientists' expertise, there is no possible return for the financier. The ethical question about who should have the greater shareholding in the business is an arbitrary one, IMHO. Again, it is asking the question: how do you put a monetary value on knowledge and expertise, and also weigh that up against the risk that the financier/investor is taking?
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