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Channel MA Short-Term System

  • #561
  • Nov 3, 2017 5:15pm Nov 3, 2017 5:15pm
Hi Mickey, Damiend

Thanks for this great system and EA. A humble request, please bring this goldmine to fruition as soon as possible.

I placed the EA on 27 available pairs on two MT4 instances. One produced close to 60% and the other 25% in one weeks trading. On a $6,000 account with 1:400 leverage there were a maximum of ten full contracts running at a given point of time, I.e one full contract per $600. Not exactly what one can do on a live account. Point to note here that the system handled this very well. I would think that one full contract per $2,500 to $3,00 is probably workable and can produce a hefty monthly return.

There are improvement possibilities by way of selecting the pairs to trade, not trading during news hours etc. There were times the EA was inadvertently shut down and at others, there were internet issues, possible areas of improvement. Also, difference between the two setups was that for the 60% setup, I used to close all the trades when a 10 to 12 % gain was recorded for a particular run. I did not do this for the other setup, another possible improvement for basket trading.

All in all, a great system and a great EA.

In relation to Basket trading, I know that it will not be easy for Damiend and will take a lot of time and effort. If you decide to go for it, it will be great. In the meanwhile, can I request you for something that will help me “manually” basket trade the EA. A check in your EA so that no new trades are placed if the account balance is
1) above a certain amount
2) when account balance is below a certain amount.

These balances to be picked up from global variables. Having these two values as global variables will not need any new input fields for the EA and will not affect the functioning of the EA.

Thanks
Attached File(s)
File Type: pdf Statement_ Channel.pdf   115 KB | 746 downloads
  • #562
  • Nov 3, 2017 6:36pm Nov 3, 2017 6:36pm
After testing it i came to the conclusion that EA is a good idea when you haven't scree-time for don't loss some good trades, but this method gives the best with manual trading and human analisys: this is why i ask here if someone could make also a dashboard who can monitoring 28 pairs + metals, indices, commodities... all if is possible + the daily timeframe; It would be FANTASTIC. I wish you a lot of green pips. Good night guys :-)
  • #563
  • Nov 3, 2017 7:01pm Nov 3, 2017 7:01pm
Quoting TradeForexFx
Hi Mickey, Damiend Thanks for this great system and EA. A humble request, please bring this goldmine to fruition as soon as possible. I placed the EA on 27 available pairs on two MT4 instances. One produced close to 60% and the other 25% in one weeks trading. On a $6,000 account with 1:400 leverage there were a maximum of ten full contracts running at a given point of time, I.e one full contract per $600. Not exactly what one can do on a live account. Point to note here that the system handled this very well. I would think that one full contract...
Glad to see your results.
One thing though,you will need to recalculate your risk. 1 contract per $2500 with a 40pip stop is running at 16% risk per trade. And your going to have 27 pairs running the ea ! Margin call a whistling in the wind !
I dont know what the chances are of getting half the 27 pairs to have open trades but its something that should be covered.
1% risk per trade might be a good starting point.

How many trades do you recall open at any one time ?
ive only been running today on 13 pairs as a test and had 4 open trades.
Be really really interested to know if you can remember.We can then work out the best risk/reward.
Great info !
  • #564
  • Nov 3, 2017 7:33pm Nov 3, 2017 7:33pm
Quoting nihilist23uk
{quote} Glad to see your results. One thing though,you will need to recalculate your risk. 1 contract per $2500 with a 40pip stop is running at 16% risk per trade. And your going to have 27 pairs running the ea ! Margin call a whistling in the wind ! I dont know what the chances are of getting half the 27 pairs to have open trades but its something that should be covered. 1% risk per trade might be a good starting point. How many trades do you recall open at any one time ? ive only been running today on 13 pairs as a test and had 4 open...

As mentioned in the post, ten pairs, could have been twelve.

As for risk, at 16 percent calculated by you, that will be the case if each and every pair being traded at that particular instance goes all the way against you, highly unlikely. Also, most of the time, the number of pairs traded at the same time is lower than 10/12 pairs. I would think 6 to 8.
  • #565
  • Nov 3, 2017 8:40pm Nov 3, 2017 8:40pm
Quoting TradeForexFx
{quote} As mentioned in the post, ten pairs, could have been twelve. As for risk, at 16 percent calculated by you, that will be the case if each and every pair being traded at that particular instance goes all the way against you, highly unlikely. Also, most of the time, the number of pairs traded at the same time is lower than 10/12 pairs. I would think 6 to 8.
Ok,thanks for the info.
unlikely,maybe, but possible. so what happens if we get a bad day... or two. I understand what your saying,but for me on a live account,I would be cutting down the risk.
Your results are great and even reducing it down to a manageable risk your still on the way to making it.
im using an ea at the moment that increases lot size based on balance,it would be the icing on the cake if that could be programmed in to the ea by damiend and maybe the close all trades at equity increase as you seems to have good results with it.But these are all things for the future.

Have a great weekend,looking forward to next few weeks to see how this all develops.
  • #566
  • Nov 4, 2017 5:20am Nov 4, 2017 5:20am
Quoting Dtde
{quote} Coincidentally, yes. Testing GER30 and GOLD on M1 and M5 at the moment. For my surprise, ger30 on m1 is doing good for now. Too early to judge, but the strategys idea seems to fit for more than just currencys. Renko charts might be worth a try as well.
Hi,
great. I did backtest on M15 and went well.
I put on renko but no trade so far, perhaps need to change some settings.

good news is that DD is on good level.

Appreciate for the developer !

mojepole
  • #567
  • Nov 4, 2017 5:21am Nov 4, 2017 5:21am
Quoting Noor16
{quote} what about ur version & set ? thanks
Hi,
Latest ver available.
time M15; set will provide later from my 2nd laptop.

mojepole
  • #568
  • Nov 4, 2017 10:55am Nov 4, 2017 10:55am
So first weeks results are in! 6 major pairs traded, total of 30 trades taken, 9 hit TP and 21 hit SL. I think this week was not the best week for testing with all the news that came out and the EA didn't handle it well, but that being said it could have gone either way if the news had come differently.

Not the best performance for me, but I will admit that I made some changes to some settings here and there throughout the week, but nothing drastic. This was a week of testing different scenarios and settings to see what works, and this week I got to see what doesn't work!

I've made some further adjustments and will run them next week and see how it goes. I have also thought that if the EA could cross check the higher overall trend before opening a trade it might help to filter some false signals.
Attached Image (click to enlarge)
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Truth is like poetry. And most people f*cking hate poetry.
  • #569
  • Nov 4, 2017 1:59pm Nov 4, 2017 1:59pm
Last week results (V1.3, standard settings).. also some funky pairs in the basket
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  • #570
  • Nov 4, 2017 3:42pm Nov 4, 2017 3:42pm
Quoting mrdfx
So first weeks results are in! 6 major pairs traded, total of 30 trades taken, 9 hit TP and 21 hit SL. I think this week was not the best week for testing with all the news that came out and the EA didn't handle it well, but that being said it could have gone either way if the news had come differently. Not the best performance for me, but I will admit that I made some changes to some settings here and there throughout the week, but nothing drastic. This was a week of testing different scenarios and settings to see what works, and this week I got...
Hi mrdfx,
I had very similar results to you over the same period, I started on version 1 and updated as soon as an update happened. I lost 3% in the first 4 days and have now got that back to almost breakeven. testing next week again so hopefully we will see some good results.
Just trying to put a kiss on the cheek of success
  • #571
  • Nov 4, 2017 5:14pm Nov 4, 2017 5:14pm
Thanks Damiend, for all the work that has gone in to DD Channel EA. I had been testing this EA and the results have been good. Few observations, the breakeven is really good and it protects the initial, however profit drops if trailing stop is used I dont see anything wrong with that it works as expected. Will it help if another step similar to breakeven (2nd) is introduced. Could we check how that works, first one will prevent the initial money and second one will give a garanteed return. Just a thought.
  • #572
  • Edited 12:46pm Nov 5, 2017 8:15am | Edited 12:46pm
Thanks to MickeyMar and other contributors of this thread. I hope you will pardon me for this post because I am grateful to find this thread as I tried to get someone to help in making this system as EA without help.
For the purpose of the EA and to quicken the curve of perfection, I think there is Forex Power Pro by Russ Horn which may help in finding a filter for the EA.

NB
Just added below are 2 indicators as my cross alerters
Attached File(s)
File Type: tpl Forex Power Pro.tpl   3 KB | 647 downloads
File Type: pdf Forex Power Pro.pdf   796 KB | 986 downloads
File Type: ex4 20 EMA Buy.ex4   10 KB | 648 downloads
File Type: ex4 20 EMA Sell.ex4   10 KB | 619 downloads
  • #573
  • Nov 5, 2017 8:58am Nov 5, 2017 8:58am
Quoting Liovannix
Thanks to MickeyMar and other contributors of this thread. I hope you will pardon me for this post because I am grateful to find this thread as I tried to get someone to help in making this system as EA without help. For the purpose of the EA and to quicken the curve of perfection, I think there is Forex Power Pro by Russ Horn which may help in finding a filter for the EA. {file} {image}
Thank you very much for posting the Russ Horn system. It should prove to be a very useful tool.
  • #574
  • Nov 5, 2017 12:01pm Nov 5, 2017 12:01pm
Quoting damiend
{quote} Ok thank you for the screenshots! From what I can see with your chart and your settings, it's not a bug. Let me explain again the rules implemented in the EA from MickeyMar's original strategy: The signal (cross) is valid after the candle close only (around 1.32400 on your chart, where I have drawn the bottom line) If the EA can't set the StopLoss on the other side on the channel, the entry is not valid and there won't be ay trade opened. You have set the StopLoss at 30 pips and the entry was more than 30 from what I see on your chart The...
Hi Damiend,

Still new at this, haven't finished the thread yet. You're saying the trade would be opened if the SL is more than 31 pips, which is on the opposite side of the channel?
  • #575
  • Nov 5, 2017 4:49pm Nov 5, 2017 4:49pm
Quoting mojepole
{quote} Hi, Latest ver available. time M15; set will provide later from my 2nd laptop. mojepole
Here it is,
please check on longer time period.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DE30.png Size: 25 KB
Click to Enlarge Name: set DD.png Size: 64 KB
Click to Enlarge Name: DD info.png Size: 24 KB
Attached File(s)
File Type: zip dax19k win DDCHANNEL.zip   1 KB | 491 downloads
  • #576
  • Nov 5, 2017 7:29pm Nov 5, 2017 7:29pm
For everyone that has posted results, thanks for your efforts. One Caveat; We could really use help with an itemized naming convention.

i.e.:
1. What Stop Loss & Take Profit are you using?
2. Do you use a Break Evan price trail?
3. Do you use a Trailing Stop?
4. How many entries, per trade do you use.
5. Do you use Specific Trading Hours? Times in GMT Please.
6. Do you use a Specific Closing Time, or Specific Daily Pip Count, etc.

With many of the posted results, we are left to guess the answers to at least, some of these questions. Therefore, some posted results are of no use. It's like presenting the response to questions by using some form of unknown language.

Just trying to help keep everyone totally informed on the Specifics of what everyone else is doing, to give us all a Common starting point.

Thanks,
Darryl
  • #577
  • Nov 5, 2017 9:31pm Nov 5, 2017 9:31pm
Super useful filter, I posted similar before but it was removed for some reason. Will try again.....this keltner channel keeping the EA/manual trader safe in a ranging market. Must use the 40 period Keltner to work.

https://www.forexstrategiesresources...nnels-and-ema/
EX BBMA trader focusing on REE code.
  • #578
  • Nov 6, 2017 4:54am Nov 6, 2017 4:54am
Hi
I have a request for damien about the next version
About the management there are 3 options:
- a fix TP and a fix SL
- a trailing stop
- a TP at opposite signal
I noticed sometimes a TP at 40 pips while the trend goes on until more pips
So I suggest to open 2 orders to choose the desired option.
For instance I can open 0,05 lot with a fix TP and a fix SL and 0.05 lot with a trailing stop or an opposite signal
It's a way to optimize the trades.
  • #579
  • Nov 6, 2017 12:52pm Nov 6, 2017 12:52pm
Darryl,

FQ_Custom_Levels_v7 indicator

By applying it twice with High Low Bars at 120 and 30, I manually determine my possible TP and SL
See the about section of the indicator

http://prntscr.com/h70cpu

Sorry didnt want to divert the thread
Attached File(s)
File Type: ex4 FQ_Custom_Levels_v7.ex4   126 KB | 467 downloads
  • #580
  • Nov 6, 2017 2:33pm Nov 6, 2017 2:33pm
Hi all,
thanks to MickeyMar for sharing this strategy and thanks to Damiend for his patient work with EA.
I have read all ideas and indications on this thread and I try to give you my little contribution sharing my results on real account from 3 to 6 november... are few trade but fully automated, so may be helpful to improve EA.

bye
Attached Image (click to enlarge)
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