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Simple Daily Trend Reversal Trading System

  • #1,721
  • Dec 28, 2017 9:34am Dec 28, 2017 9:34am
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}
With MM=false there is Err:
SimpleDailyTrendReversal_v117 US30,H4: invalid lots amount for OrderSend function
OrderSend error 4051 - invalid lots amount


BR.
Attached Image (click to enlarge)
Click to Enlarge Name: _MM_Error.png Size: 12 KB
  • #1,722
  • Dec 28, 2017 9:45am Dec 28, 2017 9:45am
Quoting johnsmith2nd
{quote} 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.
johnsmith2nd,

thanks for the set, is function fine, but may I ask the SL, if all trades went directly to negative, I could not see a stop function. In your set the ZigZAg SL is false as well. Did I miss a parameter? Or do we have to exit in such case manually?
" Accepting losses is the most important single investment devise "
  • #1,723
  • Dec 28, 2017 9:51am Dec 28, 2017 9:51am
Quoting freedom48
{quote} johnsmith2nd, thanks for the set, is function fine, but may I ask the SL, if all trades went directly to negative, I could not see a stop function. In your set the ZigZAg SL is false as well. Did I miss a parameter? Or do we have to exit in such case manually?
OrderHiddenSL - 85 = This is the stop loss, under trailing stop loss setting.

I advise you to play around with the settings and stop loss/trailing stops to suit your own MM.
  • #1,724
  • Dec 28, 2017 10:03am Dec 28, 2017 10:03am
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
Its not that difficult, it just looks to see if there is a zigzag arrow in the past X candles
  • #1,725
  • Dec 28, 2017 10:05am Dec 28, 2017 10:05am
Quoting johnsmith2nd
{quote} OrderHiddenSL - 85 = This is the stop loss, under trailing stop loss setting. I advise you to play around with the settings and stop loss/trailing stops to suit your own MM.
I was thinking about this.. 85 pips is pretty much , but i see why you would like to used a fixed SL
But what if we combine it ? So we use 85 pips unless the zigzag arrow is closer. So if zigzag arrow is 50pips away then we set the SL to 50 pips
If zigzag arrow is 100 pips away, we set the SL to 85 pips. Would that not be better?
  • #1,726
  • Dec 28, 2017 10:42am Dec 28, 2017 10:42am
Quoting johnsmith2nd
{quote} Some information here on how it calculates: http://stockcharts.com/school/doku.p...icators:zigzag
Thanks a lot but it is not the way is calculated in our zig zag.
I appreciate your help the same.
p.
  • #1,727
  • Dec 28, 2017 10:43am Dec 28, 2017 10:43am
Quoting ebeckers
{quote} I was thinking about this.. 85 pips is pretty much , but i see why you would like to used a fixed SL But what if we combine it ? So we use 85 pips unless the zigzag arrow is closer. So if zigzag arrow is 50pips away then we set the SL to 50 pips If zigzag arrow is 100 pips away, we set the SL to 85 pips. Would that not be better?
That's a very good idea .
  • #1,728
  • Dec 28, 2017 10:43am Dec 28, 2017 10:43am
Quoting ebeckers
{quote} Its not that difficult, it just looks to see if there is a zigzag arrow in the past X candles
thanks Ebeckers but how you calculate the zig zag, i mean the max or min how is calculated ? It is not the absolute max or min, is a relative max or min.....? I saw in the code a function "Low(...)" but i loose myself in the code...
Anyway thanks.
p.
  • #1,729
  • Dec 28, 2017 10:46am Dec 28, 2017 10:46am
Quoting ebeckers
{quote} I was thinking about this.. 85 pips is pretty much , but i see why you would like to used a fixed SL But what if we combine it ? So we use 85 pips unless the zigzag arrow is closer. So if zigzag arrow is 50pips away then we set the SL to 50 pips If zigzag arrow is 100 pips away, we set the SL to 85 pips. Would that not be better?
This approach could come in handy especially for trading the D1 charts where the previous zig zag arrow can be 150+ pips, so the SL would be huge. For trading H4 the hiddenSL could be set at 50-80 pips and then combined with the SL at zig zag. It's a good idea, for now I will say that the SL at zig arrow has been pretty good so far.
Truth is like poetry. And most people f*cking hate poetry.
  • #1,730
  • Dec 28, 2017 10:54am Dec 28, 2017 10:54am
Quoting ebeckers
{quote} I was thinking about this.. 85 pips is pretty much , but i see why you would like to used a fixed SL But what if we combine it ? So we use 85 pips unless the zigzag arrow is closer. So if zigzag arrow is 50pips away then we set the SL to 50 pips If zigzag arrow is 100 pips away, we set the SL to 85 pips. Would that not be better?


Isn't the purpose of using the zigzags solely for take profit?

Do you mean, use zigzag unless the OrderTS1Trigger is closer? I may have gotten myself confused here.
  • #1,731
  • Dec 28, 2017 11:02am Dec 28, 2017 11:02am
Quoting paolo7
{quote} thanks Ebeckers but how you calculate the zig zag, i mean the max or min how is calculated ? It is not the absolute max or min, is a relative max or min.....? I saw in the code a function "Low(...)" but i loose myself in the code... Anyway thanks. p.
The zigzag code itself is just ripped from the original zigzag delivered with mt4 and rewritten in a separate class
  • #1,732
  • Dec 28, 2017 11:05am Dec 28, 2017 11:05am
Quoting johnsmith2nd
{quote} Isn't the purpose of using the zigzags solely for take profit? Do you mean, use zigzag unless the OrderTS1Trigger is closer? I may have gotten myself confused here.
We are just talking about the initial stoploss here. The trailing OrderTSxxx stuff stays the same but will only become active once the trade gets in profit.
At the moment we have two options
1) place the initial stoploss at the tip of the zigzag arrow
2) used a fixed stoploss

Now i'm proposing a mix of those. Use a fixed stoploss of lets say 85 pips. But if the tip of the zigzag arrow is closer then use that one
  • #1,733
  • Dec 28, 2017 11:07am Dec 28, 2017 11:07am
Quoting ebeckers
{quote} The zigzag code itself is just ripped from the original zigzag delivered with mt4 and rewritten in a separate class
ok thanks.
p.
  • #1,734
  • Dec 28, 2017 11:18am Dec 28, 2017 11:18am
I'm all for some form of dynamic SL. How to code that I don't know. When I trade manually, I don't choose, say 50 pips, for every trade just because it sounds reasonable. No, I look at what might be an S/R area, a recent swing hi/lo, recent price action, trend...all of those things I try to get my eyes to see. It would be extremely difficult, if not impossible to get an EA to do that. Any effort to get us close to that is welcomed by me.
  • #1,735
  • Dec 28, 2017 11:30am Dec 28, 2017 11:30am
Xmass time not much trades cant wait january 15
  • #1,736
  • Dec 28, 2017 11:42am Dec 28, 2017 11:42am
Quoting ebeckers
{quote} We are just talking about the initial stoploss here. The trailing OrderTSxxx stuff stays the same but will only become active once the trade gets in profit. At the moment we have two options 1) place the initial stoploss at the tip of the zigzag arrow 2) used a fixed stoploss Now i'm proposing a mix of those. Use a fixed stoploss of lets say 85 pips. But if the tip of the zigzag arrow is closer then use that one
Sorry, I fully understand now. Yes this would be definitely an idea worth trying out.

I only used 85 to allow me to measure draw-down without being stopped out.
  • #1,737
  • Dec 28, 2017 1:00pm Dec 28, 2017 1:00pm
Hey guys, I'm just a trader, so unfortunately I can not participate in the discussion and development. all the more I would like to thank you once again for your great work. I learn a lot through the questions and answers and my understanding is getting better and better.
Thank you thank you
  • #1,738
  • Dec 28, 2017 2:56pm Dec 28, 2017 2:56pm
GREETINGS ALL,

What are the EFFECTIVE settings for this tool? I just installed v117, and I'll be using 4hr chart, OANDA
  • #1,739
  • Dec 28, 2017 3:04pm Dec 28, 2017 3:04pm
Quoting Ruckstar
GREETINGS ALL, What are the EFFECTIVE settings for this tool? I just installed v117, and I'll be using 4hr chart, OANDA
I have a follow up question as well. If we wanted to use this on Daily or 1H charts, would the settings stay the same, or do they need to be tweaked?
  • #1,740
  • Dec 28, 2017 3:06pm Dec 28, 2017 3:06pm
Looks like our CHF pairs were short lived...all have reversed direction. should have taken any small profits we could have gotten today.
When a pair that was previously identified tradeable, and then it goes against you prior to the SL being hit, AND the signal goes away from the list, do you manually close the trade? EX: EURAUD that is no longer on the list, and is in the RED.
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