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Weekly system (Set and forget)

  • #201
  • Edited 9:39am Nov 26, 2017 9:28am | Edited 9:39am
Quoting yalgaar
{quote} I think coco is very clear in his following description. Don't see any other way to interpret this. You just wait for your Candle 2. Once the Candle 2 is determined you place your Buy stop and Sell stop orders. That is it! Buy rules: Place a buy stop order 2 pips above candle 2 high. Sell tules: Place a sell stop order 2 pips below candle 2 low.
Please check : https://www.forexfactory.com/showthr...0#post10512900

Edit : I read that again and I think we only open 1 buy/sell stop orders depending on the break of candle 2, if its breaking above then we only set a buy stop, and if below we set a sell stop, I was confused on having both set up (buy and sell) every time.
  • #202
  • Nov 26, 2017 8:37pm Nov 26, 2017 8:37pm
Quoting earlroy63
Results Nov 19-24, 2017 {image}
Wondering how your NZDUSD trade was in profit?
  • #203
  • Nov 27, 2017 11:38am Nov 27, 2017 11:38am
Quoting yalgaar
{quote} I think coco is very clear in his following description. Don't see any other way to interpret this. You just wait for your Candle 2. Once the Candle 2 is determined you place your Buy stop and Sell stop orders. That is it! Buy rules: Place a buy stop order 2 pips above candle 2 high. Sell tules: Place a sell stop order 2 pips below candle 2 low.
He is actually not 100% clear about it. But seeing his screenshots and his comments, it doesn't seem like he is using 2 Stop Orders but only 1 depending on which direction C2 closed compared to C1 low / high.

Otherwise it wouldn't make much sense to wait for a candle to close above / below C1 if the direction doesn't matter. You only change direction if the first trade was a loss.

Also backtesting the EA with 2 pending Stop Orders wasn't profitable. There was a high probability that both Orders got triggered and both resulted in a loss. While testing the EA with only 1 pending Order was quite profitable, as you can see from my backtesting pictures in #184.
  • #204
  • Nov 27, 2017 1:05pm Nov 27, 2017 1:05pm
Quoting cocolizo67
+22 pips this week! Last 5 weeks: - Week1: +18 pips - Week2: +28 pips - Week3: +14 pips - Week 4: +73 pips - Week 5: +22 pips TOTAL: +155 pips. 5 winnigs, 0 losing. {image}
Hello guys!

Sorry if its an idiot question and sorry if I speak bad English.

My question is how is possible I have a different chart beetwen your chart? it is because the time of broker or how? how can I change it to have the same chart?

Thanks a lot!

Broker: Activtrades
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot.jpg Size: 211 KB
  • #205
  • Nov 28, 2017 10:15am Nov 28, 2017 10:15am
Quoting T4Trade
is this new EA to replace cocoliza pervious EA?
coco didn't release an EA. It was Beertje.

I don't know how good or bad Beertje's EA was working. But as I said: I'm a software developer and was curious and inspired. So I wanted to code my own EA. Therefore I can't tell if it is worse or better than Beertje's, because I didn't use his EA.

Quoting Spartatrade
My question is how is possible I have a different chart beetwen your chart? it is because the time of broker or how? how can I change it to have the same chart?
Most likely yes, it depends on the time of the Broker. Europeans mostly trade on a UK server, while US trade on US server, which is ~6 or more hours behind GMT.
  • #206
  • Nov 28, 2017 10:25am Nov 28, 2017 10:25am
EA Update to version 1.11

  1. Fixed some more issues and bugs.
  2. Added a little GUI which shows some information, statistics and Sortino Ratio.
  3. Switched to Magic Number instead of Comments.
  4. Implemented alternative entry method.

    1. Sometimes it can happen that C2 high / low is too close to market price and spread and therefore an Order cannot be placed (Stop Level limitations).
    2. In that case the EA tries to place the order X (i.e. 2) pips away from the current Ask / Bid price.

  5. Changed order processing so that it modifies Stop Loss, Take Profit and Expiration after Order has been send to increase compatibility with ECN brokers.
  6. New expiration date is 1st Jan 2018.

Looking forward feedback.

Attached File(s)
File Type: ex4 WeeklyH4_MP_v111.ex4   92 KB | 527 downloads
  • #207
  • Dec 1, 2017 4:14pm Dec 1, 2017 4:14pm
Results
Attached Image
  • #208
  • Dec 2, 2017 12:27pm Dec 2, 2017 12:27pm
Quoting mw108
{quote} He is actually not 100% clear about it. But seeing his screenshots and his comments, it doesn't seem like he is using 2 Stop Orders but only 1 depending on which direction C2 closed compared to C1 low / high. Otherwise it wouldn't make much sense to wait for a candle to close above / below C1 if the direction doesn't matter. You only change direction if the first trade was a loss. Also backtesting the EA with 2 pending Stop Orders wasn't profitable. There was a high probability that both Orders got triggered and both resulted in a loss....
Thank you. I agree with you.
  • #209
  • Dec 2, 2017 12:27pm Dec 2, 2017 12:27pm
Quoting earlroy63
Results {image}
No Pips details this time?
  • #210
  • Dec 2, 2017 3:04pm Dec 2, 2017 3:04pm
Dear yalgaar,

No Pips details this time?

For simplicity, some persons may want more than the minimum pips.
It appears some persons are using an EA.
The only thing that is most important is for someone to create an alert on h4 whenever the "FIRST H4 Candle" is psssed High or LOW with the candle close price.

Roy
  • #211
  • Dec 3, 2017 10:38am Dec 3, 2017 10:38am
Quoting earlroy63
The only thing that is most important is for someone to create an alert on h4 whenever the "FIRST H4 Candle" is psssed High or LOW with the candle close price. Roy
My EA also offers "Alert Only" mode. It will then give an Alert after C2 has formed.
If you want to have an alert for all pairs, use * for the "Pairs" setting.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 14 KB
  • #212
  • Dec 3, 2017 11:52am Dec 3, 2017 11:52am
EA Update to version 1.12

  1. Reverted Take Profit to ATR multiplier aswell. It is more consistent and also allows for larger movements.
  2. Changed C1 detection logic.

    1. Before the day of the first candle must have been Sunday and the day of the previous candle Friday.
    2. However, some Markets like GOLD (XAUUSD) opens at a different time than Forex Market and also closes for 1 hour during rollover.
    3. Also this method doesn't work for Brokers which open at Monday at 0:00, instead of Sunday evening.
    4. Now the new method checks the time difference between the current bar and the last bar.
    5. The time difference now must be at least 48 hours (Fr close to Su / Mo open).

Download:

Attached File(s)
File Type: ex4 WeeklyH4_v112.ex4   93 KB | 626 downloads
  • #213
  • Dec 3, 2017 1:37pm Dec 3, 2017 1:37pm
Quoting mw108
EA Update to version 1.12 Reverted Take Profit to ATR multiplier aswell. It is more consistent and also allows for larger movements. Changed C1 detection logic. Before the day of the first candle must have been Sunday and the day of the previous candle Friday. However, some Markets like GOLD (XAUUSD) opens at a different time than Forex Market and also closes for 1 hour during rollover. Also this method doesn't work for Brokers which open at Monday at 0:00, instead of Sunday evening. Now the new method checks the time difference between the current...
Hi, I would like to make some backtest but EA doesn't open any orders. No error message in journal. I have pair with sufix "-ECN" so I wrote to EA setting pairs: EURUSD-ECN. Do you know where could be the problem? Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 79 KB
  • #214
  • Dec 3, 2017 5:54pm Dec 3, 2017 5:54pm
Quoting dafa
{quote} Hi, I would like to make some backtest but EA doesn't open any orders. No error message in journal. I have pair with sufix "-ECN" so I wrote to EA setting pairs: EURUSD-ECN. Do you know where could be the problem? Thanks {image}
Hmm. Thats strange. Does it show the GUI? Does it mark the Candles C1 and C2? Did you set the correct timeframe H4?

Should look like this:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 112 KB
  • #215
  • Dec 8, 2017 10:03am Dec 8, 2017 10:03am
I was asked if I could make a simple Alert Indicator (no EA) for the system. So here it is.

Attached File(s)
File Type: ex4 WeeklyH4_Alert.ex4   22 KB | 585 downloads
  • #216
  • Dec 8, 2017 6:22pm Dec 8, 2017 6:22pm
Thanks mw108. Can you send a screenshot of it?

Roy
  • #217
  • Dec 8, 2017 6:25pm Dec 8, 2017 6:25pm
Quoting earlroy63
Thanks mw108. Can you send a screenshot of it? Roy
There is nothing to show. It will just pop an alert if C2 has formed on any pair.
  • #218
  • Apr 11, 2019 6:44am Apr 11, 2019 6:44am
Hi, anybody still trades this setup?
Buy low, sell high.
  • #219
  • Nov 24, 2019 1:41pm Nov 24, 2019 1:41pm
Quoting paul72
great results whats your settings
So are you trading more than once a week and I need to understand how to find or set SL
  • #220
  • Last Post: Nov 28, 2025 10:52am Nov 28, 2025 10:52am
here is the indi for the concept
Attached File(s)
File Type: ex5 weekly_coco.ex5   12 KB | 49 downloads
File Type: mq5 weekly_coco.mq5   9 KB | 54 downloads
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