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Simple Daily Trend Reversal Trading System

  • #1,461
  • Dec 22, 2017 4:06am Dec 22, 2017 4:06am
i get what OP means. but this strategy is actually good for counter trend. bc i started to tabulate the result this month using just this strategy. majority of the trades are counter trend trades and i can easily profit 50pips to 100 pips. and bc we are using H4, we need not worry much abt whether the signal is noise or not. and also bc we use H4, there isn't much signals compared to lower time frames. And if you are even more selective about trading the trend or against the trade, the strategy might not giv high profitability. So as I observed based on just this month trading, as long as you don't set your TP too far, this strategy give really good result. the trend doesn't matter. I only use it to see whether I am trading trend or against it. If I trade against the trend I know I am trading the pullback and TP shld not set too far, 1 :1 RR is quite reasonable. If I am trading the trend I also set at about 100 pips. Based on my experience, dont bee too greedy. Just take the profit first. There are always opportunity to enter trades as there are 28 currency pairs. So is really up to you if u want it to use just for trending. different traders have different trading styles. Use it to suit your trading style
  • #1,462
  • Dec 22, 2017 4:18am Dec 22, 2017 4:18am
Quoting hzs10
i get what OP means. but this strategy is actually good for counter trend. bc i started to tabulate the result this month using just this strategy. majority of the trades are counter trend trades and i can easily profit 50pips to 100 pips. and bc we are using H4, we need not worry much abt whether the signal is noise or not. and also bc we use H4, there isn't much signals compared to lower time frames. And if you are even more selective about trading the trend or against the trade, the strategy might not giv high profitability. So as I observed...
nescentia necat
  • #1,463
  • Dec 22, 2017 4:37am Dec 22, 2017 4:37am
Quoting renkotop
@mrdfx, could you please send me/us the setup based on post #1360 for H1, please. Could you please let me know, what means OrderHiddenSL= 50. (I' m still learning...... renkotop
It means that if you do not use zig zag SL( FALSE) the stop loss will be 50 pips
  • #1,464
  • Dec 22, 2017 4:37am Dec 22, 2017 4:37am
Quoting hzs10
i get what OP means. but this strategy is actually good for counter trend. bc i started to tabulate the result this month using just this strategy. majority of the trades are counter trend trades and i can easily profit 50pips to 100 pips. and bc we are using H4, we need not worry much abt whether the signal is noise or not. and also bc we use H4, there isn't much signals compared to lower time frames. And if you are even more selective about trading the trend or against the trade, the strategy might not giv high profitability. So as I observed...
Excellent points and analysis, thank you for sharing.
  • #1,465
  • Dec 22, 2017 4:48am Dec 22, 2017 4:48am
Quoting hzs10
i get what OP means. but this strategy is actually good for counter trend. bc i started to tabulate the result this month using just this strategy. majority of the trades are counter trend trades and i can easily profit 50pips to 100 pips. and bc we are using H4, we need not worry much abt whether the signal is noise or not. and also bc we use H4, there isn't much signals compared to lower time frames. And if you are even more selective about trading the trend or against the trade, the strategy might not giv high profitability. So as I observed...
OP stay for ?

thanks
  • #1,466
  • Dec 22, 2017 5:02am Dec 22, 2017 5:02am
Quoting paolo7
{quote} It means that if you do not use zig zag SL( FALSE) the stop loss will be 50 pips
Paolo, thanks for reply.
Best regards, renkotop
  • #1,467
  • Dec 22, 2017 5:32am Dec 22, 2017 5:32am
Quoting hzs10
i get what OP means. but this strategy is actually good for counter trend. bc i started to tabulate the result this month using just this strategy. majority of the trades are counter trend trades and i can easily profit 50pips to 100 pips. and bc we are using H4, we need not worry much abt whether the signal is noise or not. and also bc we use H4, there isn't much signals compared to lower time frames. And if you are even more selective about trading the trend or against the trade, the strategy might not giv high profitability. So as I observed...
I understand what you are saying, but please understand that the Forex market in general has been mostly ranging in the past year. Volatility has been near record lows during that time. Trend Reversal systems do very well with ranging markets. After all, a range is composed of many trend reversals. Forex ranges 70% of the time. It is the other 25% that we must worry about. The problem is that you don´t really know when the market will change to a trending one.

When the Forex markets begin to do their thing and volatility picks up and strong trends become the norm again, unless you are protected by trading only in favor of the major trend, the account will suffer. As I explained before, I too created a Trend Reversal system that piled up the pips in ranging markets, but found out the hard way that I needed trend protection to be consistent with it. Anyone who traded the 2008/2009 markets know what I mean.

For now though, it looks like ranges should continue for a few weeks more, so you should be ok, but that can change at any time.

Please understand that I love the system mrdfx has created. It is based on sound principles and a lot of thought has gone into it, but I would like the new traders especially, who have never experienced the high volatility I am talking about to be alert and not overconfident or you will get hurt.

Good luck to all.
Observation is the path to discovery.
  • #1,468
  • Edited 6:20am Dec 22, 2017 5:39am | Edited 6:20am
And here's is v1.16

1.16
- fixed bug that mbfx showed invalid overbought signal for sell signals
- fixed trendline sometimes not showing valid signal in the dashboard
- added an sma200 trendline filter which you can turn on/off (see below)
- You now open the chart for a pair by clicking on the label. You can even specify the template which should be used in the settings


So new is is the SMA200 trend filter. The EA uses the D1 200 SMA with price close for this
If you turn it on then the EA will only give signals and will only take trades when they confirm with the SMA 200 trend.
This means:
that for a buy signal to be valid the price must be above 200sma
that for a sell signal to be valid the price must be below the 200sma

The sma200 trend is shown together with the MA15 in the MA15 column.
Orange means that either the MA15 or the SMA200 is valid, green means both are valid.
So below you can see USDCAD , AUDUSD and EURGBP are valid trades since its a buy trade and SMA200 trend for those pairs is up
GBPAUD for example is orange since the MA15 is valid, but its a sell signal and the SMA200 trend for GBPAUD is up
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-12-22 at 12.51.26.png Size: 57 KB
Click to Enlarge Name: Screen Shot 2017-12-22 at 13.19.05.png Size: 61 KB
Attached File(s)
File Type: ex4 SimpleDailyTrendReversal_v116a.ex4   160 KB | 581 downloads
  • #1,469
  • Edited 6:07am Dec 22, 2017 5:53am | Edited 6:07am
Quoting ebeckers
And here's is v 1.16 - fixed bug that mbfx showed invalid overbought signal for sell signals - fixed trendline sometimes not showing valid signal in the dashboard - added an sma200 trendline filter which you can turn on/off (see below) - If you now click on the label of a currency pair the EA will open the chart for that pair. You can even specify the template which should be used in the settings So new is is the SMA200 trend filter. If you turn it on then the EA will only give signals and will only take trades when they confirm with the SMA 200...
ebeckers.

Thank you for the update as well as your hard and generous work.
It's much appreciated by all of us, I'm sure.
  • #1,470
  • Dec 22, 2017 6:09am Dec 22, 2017 6:09am
Quoting ebeckers
And here's is v1.16 1.16 - fixed bug that mbfx showed invalid overbought signal for sell signals - fixed trendline sometimes not showing valid signal in the dashboard - added an sma200 trendline filter which you can turn on/off (see below) - You now open the chart for a pair by clicking on the label. You can even specify the template which should be used in the settings So new is is the SMA200 trend filter. If you turn it on then the EA will only give signals and will only take trades when they confirm with the SMA 200 trend. Overal trend is shown...
Thank you once again!!.
  • #1,471
  • Dec 22, 2017 6:09am Dec 22, 2017 6:09am
Quoting ebeckers
And here's is v1.16 1.16 - fixed bug that mbfx showed invalid overbought signal for sell signals - fixed trendline sometimes not showing valid signal in the dashboard - added an sma200 trendline filter which you can turn on/off (see below) - You now open the chart for a pair by clicking on the label. You can even specify the template which should be used in the settings So new is is the SMA200 trend filter. If you turn it on then the EA will only give signals and will only take trades when they confirm with the SMA 200 trend. Overal trend is shown...
Thanks ebeckers, you are amazing...

Question: Does the 200MA trend filter follow the same rules as the MATrend Arrow indi that I included (Close Above/Below the D1 200 Simple MA)?

Thanks for your great work.
Observation is the path to discovery.
  • #1,472
  • Dec 22, 2017 6:11am Dec 22, 2017 6:11am
Quoting renkotop
@mrdfx, could you please send me/us the setup based on post #1360 for H1, please. Could you please let me know, what means OrderHiddenSL= 50. (I' m still learning...... renkotop
Hi renkotop I am not trading on H1 time frame. I am trading on H4, and D1 for the EA test, and on H4 only live.

OrderHiddenSL= 50 is the stop loss that the EA will use if you have set stopLossAtZigZagArrow = false.
Truth is like poetry. And most people f*cking hate poetry.
  • #1,473
  • Dec 22, 2017 6:11am Dec 22, 2017 6:11am
Quoting Alorente
{quote} Thanks ebeckers, you are amazing... Question: Does the 200MA trend filter follow the same rules as the MATrend Arrow indi that I included (Close Above/Below the D1 200 Simple MA)? Thanks for your great work.
yup it does, it uses the D1 200 sma
for buy we need price above 200sma
for sell price needs to be below the 200sma
  • #1,474
  • Dec 22, 2017 6:47am Dec 22, 2017 6:47am
"You can even specify the template which should be used in the settings" = whut you mean by this ? TIA for ur response
da n0o0b + $hit_Disturber
  • #1,475
  • Dec 22, 2017 6:52am Dec 22, 2017 6:52am
Quoting pipsy7
"You can even specify the template which should be used in the settings" = whut you mean by this ? TIA for ur response
If you click on the label of a currency pair, the EA will open a new (or existing) chart for that pair.
So lets suppose the EA shows a signal for EURNZD. you click on the EURNZD label and voila.. a new chart opens showing you EURNZD
The template used/being applied to the chart can be specified here:
This needs to be the exact file name of your template, including the .tpl extension !
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-12-22 at 13.48.58.png Size: 63 KB
  • #1,476
  • Edited 11:24am Dec 22, 2017 6:56am | Edited 11:24am
AMAZING =dank u wel !
da n0o0b + $hit_Disturber
  • #1,477
  • Dec 22, 2017 6:59am Dec 22, 2017 6:59am
Quoting ebeckers
{quote} If you click on the label of a currency pair, the EA will open a new (or existing) chart for that pair. So lets suppose the EA shows a signal for EURNZD. you click on the EURNZD label and voila.. a new chart opens showing you EURNZD The template used/being applied to the chart can be specified here: This needs to be the exact file name of your template, including the .tpl extension ! {image}
Ebeckers !

Merry Christmas to you mate ! and thank you so much for your hard work.

I hope you are rewarded well for your efforts and wish you a prosperous new year !
D.
  • #1,478
  • Dec 22, 2017 7:14am Dec 22, 2017 7:14am
Thanks again to the generous spirit of Ebeckers

How did you learn coding ( do it yourself or couses?)

Great job boy!!

P.
  • #1,479
  • Dec 22, 2017 7:34am Dec 22, 2017 7:34am
Quoting mrdfx
{quote} Hi renkotop I am not trading on H1 time frame. I am trading on H4, and D1 for the EA test, and on H4 only live. OrderHiddenSL= 50 is the stop loss that the EA will use if you have set stopLossAtZigZagArrow = false.

Hi mrdfx,

Your Post#1360 H4 StopLossAtZigzagArrow setting "true" but now you're saying this setting must be "false". I am using H4 Timeframe. Which setting must be on H4(StopLossAtZigzagArrow) ?
Regards.
  • #1,480
  • Dec 22, 2017 7:38am Dec 22, 2017 7:38am
Quoting ebeckers
You now open the chart for a pair by clicking on the label. You can even specify the template which should be used in the settings
Very nice! Thank you for your efforts.
Blessed is the one who takes refuge in Him.
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