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Simple Daily Trend Reversal Trading System

  • #1,701
  • Dec 28, 2017 5:05am Dec 28, 2017 5:05am
I recently installed it before about 14 hours, the spreads were high at that moment..The choopy market conditions does not tell the true story but however I am on the green side (for now ) charts from H4
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" Accepting losses is the most important single investment devise "
  • #1,702
  • Dec 28, 2017 5:18am Dec 28, 2017 5:18am
Information

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  • #1,703
  • Dec 28, 2017 5:22am Dec 28, 2017 5:22am
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  • #1,704
  • Dec 28, 2017 5:22am Dec 28, 2017 5:22am
Considering the low volatility and low liquidity in the markets over this holiday period, the results in the last few days have been good.

Attached are settings for this strategy.
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Attached File(s)
File Type: zip v1 strategy.zip   < 1 KB | 442 downloads
  • #1,705
  • Dec 28, 2017 5:25am Dec 28, 2017 5:25am
Quoting johnsmith2nd
Considering the low volatility and low liquidity in the markets over this holiday period, the results in the last few days have been good. Attached are settings for this strategy. {image} {file}
nice! Thats manual, or 100% auto trading or auto trading with manual intervention ?
  • #1,706
  • Dec 28, 2017 5:27am Dec 28, 2017 5:27am
Quoting ebeckers
Using automatic S&R levels to filter out low probability trades Just to give you an idea what i'm working on Below are 2 trades which are currently active. One on EURCHF and one on CADCHF. Both are on H4 High probability setup: CADCHF If you look at CADCHF then you'll see that the zigzag arrow appeared right on a S&R level of 2 years old and that the trade has plenty of room before it will reach the next resistance level of 3 years old. I would consider this a high probability setup which is likely to give us profit Low probability setup: EURCHF...
As always appreciate the input and all your work, will test and let you know if that indicator improved it
  • #1,707
  • Edited 6:00am Dec 28, 2017 5:31am | Edited 6:00am
Quoting ebeckers
{quote} nice! Thats manual, or 100% auto trading or auto trading with manual intervention ?
This is purely using your wonderful EA good Sir, and mrdfx's strategy!

No intervention at all, I thought I'd let this run full auto and see how it goes. I've amended some of the time filters, to LO, NY close.
Quite a conservative TP/TS.
  • #1,708
  • Dec 28, 2017 5:40am Dec 28, 2017 5:40am
Quoting ebeckers
Using automatic S&R levels to filter out low probability trades Just to give you an idea what i'm working on Below are 2 trades which are currently active. One on EURCHF and one on CADCHF. Both are on H4 High probability setup: CADCHF If you look at CADCHF then you'll see that the zigzag arrow appeared right on a S&R level of 2 years old and that the trade has plenty of room before it will reach the next resistance level of 3 years old. I would consider this a high probability setup which is likely to give us profit Low probability setup: EURCHF...
Is there a particular rule in using only Weekly or Daily levels, 3000 bars in the past? Are 7 year old resistance levels relevant in today's price movement? (excuse my lack of knowledge in this department)

There are a few variables to play with in the settings, i.e. detail - medium/medium high/maximum, and the bars history, are the default the optimum, for H4 charts?
  • #1,709
  • Dec 28, 2017 5:47am Dec 28, 2017 5:47am
Quoting johnsmith2nd
{quote} Is there a particular rule in using only Weekly or Daily levels, 3000 bars in the past? Are 7 year old resistance levels relevant in today's price movement? Have you tried looking at more recent history?
No, Its just a number i choose, you could also use 5000 or 1000 or whatever you like
But yes even 20 yrs old levels can be very relevant to todays price action

Simple example of EURCAD. note the chart is in MN1 and that a R&S level last touched in nov 2009 was still relevant in oct 2015
So yes.. these old levels do count ;-)
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  • #1,710
  • Dec 28, 2017 5:47am Dec 28, 2017 5:47am
CHFJPY SHJORT HIT SL -67pips
  • #1,711
  • Dec 28, 2017 5:47am Dec 28, 2017 5:47am
johnsmith2nd, I have discontinued your strategy and immediately the result has changed, THANK YOU

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  • #1,712
  • Dec 28, 2017 6:54am Dec 28, 2017 6:54am
Quoting ebeckers
{quote} No, Its just a number i choose, you could also use 5000 or 1000 or whatever you like But yes even 20 yrs old levels can be very relevant to todays price action Simple example of EURCAD. note the chart is in MN1 and that a R&S level last touched in nov 2009 was still relevant in oct 2015 So yes.. these old levels do count ;-) {image}
ur SR setting is only based on D1 onwards?
  • #1,713
  • Dec 28, 2017 7:33am Dec 28, 2017 7:33am
Quoting hzs10
{quote} ur SR setting is only based on D1 onwards?
Yes since i'm only trading H4 & D1. But if you are trading lower timeframes then you could use H4 S&R levels
  • #1,714
  • Dec 28, 2017 8:12am Dec 28, 2017 8:12am
Quoting johnsmith2nd
Considering the low volatility and low liquidity in the markets over this holiday period, the results in the last few days have been good. Attached are settings for this strategy. {image} {file}
Thanks to all of you, he put the friend's SET into operation and it works wonders, thanks.
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  • #1,715
  • Dec 28, 2017 8:19am Dec 28, 2017 8:19am
Version 1.17

- fixed bug where EA gave multiple alerts for the same signal
- new: EA now shows S/L for open trades in pips instead of price
- new: EA now shows the order type for open trades with an buy/sell arrow
- new: EA trade panel now shows profit in both currency and in pips
- new: EA status line on top now shows version and timeframe and last update time
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Attached File(s)
File Type: ex4 SimpleDailyTrendReversal_v117.ex4   165 KB | 512 downloads
  • #1,716
  • Dec 28, 2017 8:22am Dec 28, 2017 8:22am
top entry was manual based on signal. others are auto via ea.

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Blessed is the one who takes refuge in Him.
  • #1,717
  • Dec 28, 2017 8:47am Dec 28, 2017 8:47am
Quoting ebeckers
Version 1.17 - fixed bug where EA gave multiple alerts for the same signal - new: EA now shows S/L for open trades in pips instead of price - new: EA now shows the order type for open trades with an buy/sell arrow - new: EA trade panel now shows profit in both currency and in pips - new: EA status line on top now shows version and timeframe and last update time {image} {file}
Awesome once again buddy! Thanks for the update.

Truth is like poetry. And most people f*cking hate poetry.
  • #1,718
  • Dec 28, 2017 9:03am Dec 28, 2017 9:03am
Thanks @Ebeckers for the update!!

@Ebeckers or who can code or understand EA code ?

I tried to read to understand the code of zig zag indicator inside the EA, how the code calculate the position of the arrow ( RED or GREEN) exactly ?

It calculates the lowest or the highest price among last ten candles or is more deep the logic of calculation?

Thanks, it a pleasure reading and sharing with all of you the knowledge!!

Paolo
  • #1,719
  • Dec 28, 2017 9:18am Dec 28, 2017 9:18am
all green


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  • #1,720
  • Dec 28, 2017 9:23am Dec 28, 2017 9:23am
Quoting paolo7
Thanks @Ebeckers for the update!! @Ebeckers or who can code or understand EA code ? I tried to read to understand the code of zig zag indicator inside the EA, how the code calculate the position of the arrow ( RED or GREEN) exactly ? It calculates the lowest or the highest price among last ten candles or is more deep the logic of calculation? Thanks, it a pleasure reading and sharing with all of you the knowledge!! Paolo
Some information here on how it calculates: http://stockcharts.com/school/doku.p...icators:zigzag
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