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EA based on Levels seen by MarketProfile and Volume

  • #141
  • Sep 22, 2017 8:49am Sep 22, 2017 8:49am
Quoting HappyMe
Hi guys, I programmed a little for a possible MonsterMove.... Is this what we want for the MonsterMove?! If a move between now and the last finished M1 bar is > x points? Then cancel levels for the specified pair Show a button on the chart for resetting the MonsterMove trigger If button clicked or EA start again or changed the timeframe => trading is active again! Actually I think we only want to be warned if there was no known RedNews-event....or? {image}
Oke...I programmed the MonsterMove into a personal Demo-version!

If it's working correctly I can add this MonsterMove filter in the next release together with:

  1. support EUR, USD, AUD, CAD, GBP account balance
  2. possibility to choose for Trading with "fixed Lot" or "% of balance"
  3. if traded with Fixed lot all account balance are possible

You can manage risk, but you can't manage the return
  • #142
  • Sep 22, 2017 11:42am Sep 22, 2017 11:42am
Quoting HappyMe
{quote} Oke...I programmed the MonsterMove into a personal Demo-version! If it's working correctly I can add this MonsterMove filter in the next release together with: support EUR, USD, AUD, CAD, GBP account balance possibility to choose for Trading with "fixed Lot" or "% of balance" if traded with Fixed lot all account balance are possible
In my mind wouldn't it better if it is X pips move within X min/sec; then give us option to insert delay time for non-trading
ie; 15pips movement within the last 60 seconds, then 5 minutes after that can trade again. (of coz, provided the level were not tested.)

I thinking the reasoning is because if it is a strong move is moving towards our level (i.e, 15pips in the last 60 seconds) but havent hit our level. We dont want to trade because chances are it might just blew thru the level. So after x time (i.e, 5 minutes) we can trade normal again.

p.s.: maybe it a good idea to check with Dale on the theory behind it also
  • #143
  • Sep 22, 2017 11:54am Sep 22, 2017 11:54am
Quoting HappyMe
{quote} Good question! I think if you read the link below you understand why! https://www.babypips.com/learn/forex...position-sizes The manual input is only needed if you you use the EA in the MT4 Tester!!
Manual input is only required for MT4 Tester - is it because MT4 Tester cant read the actual market exchange rate at the particular point back in time? So, we have to use a fix rate

while for live EA trading we dont need this input because the EA can read all the required exchange rate from the market to calculate cross pairs sizing?
  • #144
  • Sep 22, 2017 1:07pm Sep 22, 2017 1:07pm
Quoting otiose
{quote} Manual input is only required for MT4 Tester - is it because MT4 Tester cant read the actual market exchange rate at the particular point back in time? So, we have to use a fix rate while for live EA trading we dont need this input because the EA can read all the required exchange rate from the market to calculate cross pairs sizing?
Correct!!
You can manage risk, but you can't manage the return
  • #145
  • Edited 3:39pm Sep 22, 2017 1:40pm | Edited 3:39pm
Quoting otiose
{quote} In my mind wouldn't it better if it is X pips move within X min/sec; then give us option to insert delay time for non-trading ie; 15pips movement within the last 60 seconds, then 5 minutes after that can trade again. (of coz, provided the level were not tested.) I thinking the reasoning is because if it is a strong move is moving towards our level (i.e, 15pips in the last 60 seconds) but havent hit our level. We dont want to trade because chances are it might just blew thru the level. So after x time (i.e, 5 minutes) we can trade normal...
Hi, I'm not totally agreed.....

What is the definition of a MonsterMove in our case?

Well it's a sudden sharp move in the market without planned Rednews. Some guy or girl is shouting something, a missle is in the air....yellow news is sneaky rednews.....whatever. The market it just in a short panic (a quick and sharp move). And when the market is quiet again normal trading can start again.

Well very good you posted your thinking! because now I noticed that we can probably handle it just like normal RedNews.
So I think it would be oke if we say....

If X points move in 1 or 2 M1 bars we are dealing with a MonsterMove.
If seen disable trading for specified Pair (with button we can eventually manually activate trading again) and after Y min. start normal trading again.... (just as we do in normal RedNews (x min before and after no trading....well in case of a MonsterMove only x min after the move).

I know you also can say if the market is back to normal for x-min. or if spread is back to normal then activate again... also that is a possibility.
You can manage risk, but you can't manage the return
  • #146
  • Sep 23, 2017 8:20am Sep 23, 2017 8:20am
Treating it like a rednew sounds like a good idea. Using minute probably the way to go in my mind. Spread should be also covered under the max spread setting that we already have if I am not mistaken.

Also, ideas for the EA:-

1. Auto close when reach certain time. I.e, at near 24.00 is forex rollver and liquidity can be low. with higher chance of slippage. So it would be good if we can let the EA to close all my trades at set timing like 23.00/etc.

2. to have non-trading hours. In relation to 1 above, low liquidity may persist maybe to 0.30 pr 1.00/etc. So it would be good if we can set these hours/any other hours to non-trading. And any levels hit during this time can be set as tested probably i reckon.

Q: where or how does the EA keeps memory of a leve is tested currently? I notice a level being tested. I shut down the MT4 and reopens it. The EA knows that particular levels has been tested. This is awesome! but i am curious because DaleEA doesnt works that work.
  • #147
  • Sep 23, 2017 12:37pm Sep 23, 2017 12:37pm
Quoting otiose
HappyMe/Bestof27, In relation to inputting the Long, Short and also the News and multiple EA either running for different accounts or settings. Was wondering is it possible for the note files to sit in a google drive like a Master Files. Then we update the Master Files in google drive. The respective EAs will read the file from the google drive and update accordingly. The benefit would be that we only need to update one Master Files instead of multiple times if we got multiple EAs running through VPS. I think this would be an awesome feature. "evil...
Good idea.on windows onedrive maps onto folder with path.
In tjlhe mt4 folder u can create virtual drive that point into that path.reads file and iu can puish file on cloud drive and read it by ea on vps.
(Mt4 or other platform)
  • #148
  • Sep 24, 2017 7:19am Sep 24, 2017 7:19am
Quoting otiose
Treating it like a rednew sounds like a good idea. Using minute probably the way to go in my mind. Spread should be also covered under the max spread setting that we already have if I am not mistaken. Also, ideas for the EA:- 1. Auto close when reach certain time. I.e, at near 24.00 is forex rollver and liquidity can be low. with higher chance of slippage. So it would be good if we can let the EA to close all my trades at set timing like 23.00/etc. 2. to have non-trading hours. In relation to 1 above, low liquidity may persist maybe to 0.30 pr 1.00/etc....
1) and 2) are already on the wish-list

Q) => Answer: Good observation...! indeed whatever you do if a level was tested or triggered...it is always triggered or tested in my EA (also when you change the timeframe). Exactly that was a very big point why I created my own EA instead of using Seven62 (=Dales) EA.

Well how the EA is doing it? It is not saving anything...it is just scanning the levels again and looks back in history "that's all"....well it's quick to say but a hell for programming because of the many possible options comes along the path.... but I think It's working really perfect at the moment!

Because of the new initialize at start of the EA and in case you change the timeframe the EA knows exactly what happens and where we are concerning your levels and so he can continuing his work where it started and can continue managing your levels correctly
You can manage risk, but you can't manage the return
  • #149
  • Sep 24, 2017 8:41am Sep 24, 2017 8:41am
Quoting HappyMe
{quote} Hi, I'm not totally agreed..... What is the definition of a MonsterMove in our case? Well it's a sudden sharp move in the market without planned Rednews. Some guy or girl is shouting something, a missle is in the air....yellow news is sneaky rednews.....whatever. The market it just in a short panic (a quick and sharp move). And when the market is quiet again normal trading can start again. Well very good you posted your thinking! because now I noticed that we can probably handle it just like normal RedNews. So I think it would...
Can't we adjust the monster move filter / average move speed of the currency. ie if average speed is 1 pip/min, monster move could be 5X this value = 5 pips/min. like that our monster move match the current market. Monster move could be removed when speed is again below the chosen limit.
  • #150
  • Sep 24, 2017 1:32pm Sep 24, 2017 1:32pm
Quoting Bestof27
{quote} Can't we adjust the monster move filter / average move speed of the currency. ie if average speed is 1 pip/min, monster move could be 5X this value = 5 pips/min. like that our monster move match the current market. Monster move could be removed when speed is again below the chosen limit.
Hi, If I understand you right you want to let the EA adjust the MonsterMove Filter depending on the average speed of the market.

Well ofcourse we can but then an ever-going question is "When do we see the average speed?" How can we detect it. Is it just the average speed of the last 60 minutes or last day or...depending on...?! Also another problem....when is speed again below the chosen limit.

For now I programmed it as follows:
if move within start 1 bar back and current bar is bigger then X pips. Disable trades for that pair.
I show a button for resetting the MonsterMove detection
After Xmin MonsterMove was detected always reset MonsterMove (if reset button was not pressed)

(I only need to think and program how to detect MonsterMoves if we start the EA or change the TimeFrame) in relation of our Levels. So that we always have the correct startingpoint!
You can manage risk, but you can't manage the return
  • #151
  • Sep 24, 2017 2:00pm Sep 24, 2017 2:00pm
TradeManEditor 1.2.1

I added a RedNews editor to the TradeMan editor

At open the existing RedNews file is loaded into the editor
You can add, update and delete news lines to the tab.
Once you are done, you save data to the RedNews file
I m not good at explaining how it works...may be HappyMe ll help to do better

Report if you see problems !
Attached File(s)
File Type: zip TradeManEditor.zip   791 KB | 224 downloads
  • #152
  • Sep 24, 2017 2:31pm Sep 24, 2017 2:31pm
Quoting Bestof27
TradeManEditor 1.2.1 I added a RedNews editor to the TradeMan editor At open the existing RedNews file is loaded into the editor You can add, update and delete news lines to the tab. Once you are done, you save data to the RedNews file I m not good at explaining how it works...may be HappyMe ll help to do better Report if you see problems ! {file}
I like this update Good job!!

I added this update in post1 (with name TradeManEditor V1.2.1.zip) I also added the old manual and the needed ini-file.
Somewhere next week I can look for updating the manual I think
You can manage risk, but you can't manage the return
  • #153
  • Sep 25, 2017 12:30pm Sep 25, 2017 12:30pm
HappyMe,

One of the thing about this EA is the ability to use the MT4 Tester.
Stupid question: So, I would need to insert all the past RedNews and Levels into the txt before running the test?
  • #154
  • Sep 25, 2017 2:13pm Sep 25, 2017 2:13pm
Quoting otiose
HappyMe, One of the thing about this EA is the ability to use the MT4 Tester. Stupid question: So, I would need to insert all the past RedNews and Levels into the txt before running the test?
Yes indeed.... just put all your:
-short level in the short.txt
-long level in the long.txt
-rednews times in the rednews.txt

You must put those files in the tester location of your MT4 installation. Read the manual in post 1 of this thread. I described it in there.

I collect my levels day by day so at the end of the month i can backtest them with different settings.

Regards,
HappyMe
You can manage risk, but you can't manage the return
  • #155
  • Sep 25, 2017 4:17pm Sep 25, 2017 4:17pm
Hi Happy,

this is a reply to post 150.

Am not sure if you already considered it but in a monster move wouldn't it be the case that the spreads widen significantly and quickly? Would this not be the better measure than average speed of a drop? What do you do when your are only 5 pips away from an entry and a monster move happens? For instance a missile shot from NK would make the market probably drop UJ 100 pips in 10 seconds so even a minute bar would be too late. Not sure if some members have spread analysers to identify what happens in a minster move scenarios but i believe a spread widening would be imminent and thus it would react quicker while at the same time it would not give us headache thinking about an average speed a market can drop

Just my opinion

Cheers

Jester
  • #156
  • Sep 25, 2017 5:56pm Sep 25, 2017 5:56pm
Quoting HappyMe
{quote} Yes indeed.... just put all your: -short level in the short.txt -long level in the long.txt -rednews times in the rednews.txt You must put those files in the tester location of your MT4 installation. Read the manual in post 1 of this thread. I described it in there. I collect my levels day by day so at the end of the month i can backtest them with different settings. Regards, HappyMe
Cool. Will check that out. I never really play with tester before
Do u have past .txt to share? "big grin"
  • #157
  • Sep 25, 2017 10:28pm Sep 25, 2017 10:28pm
Reading Best and Jester comments, wondering maybe it would be better using x pip movement per min/sec instead of x pip movement starting from 1bar. So basically we using a purer measurement where any tick x pip movement against exact time.

ie, using time as a measurement for x pip movement instead using bar as a measurement point.

Hope it makes sense
  • #158
  • Sep 26, 2017 1:20am Sep 26, 2017 1:20am
Seems a bad month indeed
  • #159
  • Sep 26, 2017 1:36am Sep 26, 2017 1:36am
HappyMe,

Once more question: Does the EA works on MT5 also?
  • #160
  • Sep 26, 2017 1:59am Sep 26, 2017 1:59am
Quoting otiose
HappyMe, Once more question: Does the EA works on MT5 also?
I really don't know. For know I'm not interested in MT5
You can manage risk, but you can't manage the return
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