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Simple Daily Trend Reversal Trading System

  • #1,981
  • Jan 3, 2018 3:27pm Jan 3, 2018 3:27pm
Quoting FxMadness
That about that e/g trade i have shown before that has gone wrong. It is still open because it did not reach his stoploss yet despite it lost 2 out of the 4 trade indicators, one being the (major) trend direction indicator. There should have been an option in the EA to close trades on loss of signals or reversing signals or something like that and something other than letting it run to SL because that usually is not good for the results. {image}
first the question is if it did loose the signal. the ea only looks at the last 10 bars (by default). so when a new bar arrives it could be that the valid signal just moved out of scope but that the trade is still valid. 2nd its pretty common to see small pullbacks before trend continues. if we simply close the trade when one of the indicators become invalid because of a pullback then i guess thats not what we want
  • #1,982
  • Jan 3, 2018 3:43pm Jan 3, 2018 3:43pm
Quoting ebeckers
{quote} first the question is if it did loose the signal. the ea only looks at the last 10 bars (by default). so when a new bar arrives it could be that the valid signal just moved out of scope but that the trade is still valid. 2nd its pretty common to see small pullbacks before trend continues. if we simply close the trade when one of the indicators become invalid because of a pullback then i guess thats not what we want
But if the pullback is over the ea would re-signal again and we would be able to enter the trade again.
Closing the trade could prevent you running to sl in case the pullback is a reversal and it can prevent large DD's.

It is about how sensitive the indicators are and which ones could temporary disappear during a pullback and should be ignored.
Perhaps it should be a combination or even a different signal.
I can calculate the movement of stars, but not the madness of men. Isaac N.
  • #1,983
  • Jan 3, 2018 3:43pm Jan 3, 2018 3:43pm
Quoting johnsmith2nd
{quote} Is it possible to for example incorporate Alorente's idea, and then have the EA stop autotrading for the day? i.e. When total profit reaches 5%, close all open trades and stop autotrading for the day. This gives the option for those whom are potentially not able to sit at the computer all day, yet maintaining good money management discipline. Just a thought. EDIT: Just re-read Alorente's last posts.. Ignore above.
I have an ea that will monitor equity,you can set the equity in money or pips or %

it will then close all trades when target reached,it will also disable all ea's when target reached so could be used to test the idea before getting it worked into the code.

Only problem is,it has the developers name displayed on the ea dashboard with the web address..

I was just about to post it here but not sure if it will break any rules. Dont want to screw thread up.
  • #1,984
  • Jan 3, 2018 4:41pm Jan 3, 2018 4:41pm
Quoting ebeckers
{quote} You are not answering my question ? Instead you raise another question ? 1) Why should we (according to you) only open new orders @ candle close. Doesn't make sense to me.. 2) And to answer your 2nd question. Thats why we have a setting for this. Just set minsBetween2TradesOnSamePair to the minutes you want and you're done
The only problem with this is that if you use minbetweentrades to prevent re entries then you may possibly miss a good signal and opportunity to trade the opposite signal
  • #1,985
  • Jan 3, 2018 5:01pm Jan 3, 2018 5:01pm
Quoting ebeckers
{quote} i see nothing wrong with this method so why should it be corrected??
Edwin, I think Nihilist has a point. In my opinion it would be good to have a switch for StartTradeImmediate which will start the trade immediately when signal valid when EA starts or to wait for clean setup.
  • #1,986
  • Jan 3, 2018 5:22pm Jan 3, 2018 5:22pm
Quoting bgntrs
{quote} The only problem with this is that if you use minbetweentrades to prevent re entries then you may possibly miss a good signal and opportunity to trade the opposite signal
true, but that depends on what you specify for minsbetween2trade ?
If you set it to 12 hrs ( = 720 mins ) you will be fine in 99,9999% of all cases. Or do you expect the trend to reverse 2x times within 12 hours ?

Anyway I still don't see how only allowing the EA to open trades on candle close fixes your re-entry problem.
If we would use candle close then the EA will still open a re-entriesy, but then every candle close.
So even then you will need something like minsbetween2trade to prevent it from opening re-entries.
  • #1,987
  • Jan 3, 2018 5:23pm Jan 3, 2018 5:23pm
Quoting madebybel
{quote} Edwin, I think Nihilist has a point. In my opinion it would be good to have a switch for StartTradeImmediate which will start the trade immediately when signal valid when EA starts or to wait for clean setup.
I don't see how this is related to the thing Nihilist suggested. He's talking about avoiding re-entries, and you seem to be talking about EA starting up ??
  • #1,988
  • Jan 3, 2018 5:55pm Jan 3, 2018 5:55pm
Guys I have been watching for some time now, and I'm noticing something which I've seen happen to many threads, especially those that get some popularity in the forums, and that's the thread slowly, but surely detracting from the original strategy and purpose.

Everyone has a better idea of how they have something to add, something that they think will work or well, or have ideas to change this, and change that, and before you know it, you can hardly recognize the original strategy!

We need to be careful now not to sway too far from the original strategy I shared, and not to get carried away with too many random unrelated ideas from each member that posts here. I know most of you mean well and you are looking to improve things, but please lets stay focused.

I am also really grateful and appreciative to ebeckers for the EA he's created, and for all his time spent, hard work, and effort he's put into coding this EA. I think this strategy has evolved into something with great potential thanks to the EA, and its only getting better from the things I've seen in future development, but I've also seen that people are coming in and pitching their random ideas, some good, some not, and I foresee things detracting from the original strategy and purpose just like those other threads.

So guys lets please stay focused, adding many extra indicators isn't going to make it better, making all kinds of changes isn't going to improve the results. The only things that I think that we can still brain storms ideas on is to improve the quality/accuracy of the signals. I know ebeckers is working on adding S&R, and I'm currently testing with currency strength, which should improve the accuracy. ebeckers is also working on additional MM features which will give us more options to use to manage the risk which will be great.

An area which I'm interested in focusing on, and paying more attention is the exit strategy, I will admit that it was not a strong point of my strategy and I was more focused on the entry, and winging it for the exit. I did pretty well with my exits although this is an area which can be improved.

Now saying all this, the point I'm trying to make is that lets keep our eye on the goal, lets not get too detracted from the strategy, and lose our focus by everyone's opinion on how the EA should work, and lets be constructive and think of productive things that will improve the original strategy.

We are really onto something really fantastic here, and it will be profitable for everyone if we can stay on course. Please remember we all on the same team, so lets work together as a team! Green pips to you all.
Truth is like poetry. And most people f*cking hate poetry.
  • #1,989
  • Jan 3, 2018 6:06pm Jan 3, 2018 6:06pm
Great work on this ebeckers and mrdfx. I really appreciate the hard work, time and effort you both have put in on this EA. I have been using the Daily TF with great results, the 4H TF still very good buy not the same results. My question is this....is it possible to take the very same indicator settings on the daily TF and convert them down to the lower time frames with the same results?

for example, using the 15min MA on the daily TF would be converted to say 5min MA on the 4HR TF or 1min MA on the 1HR TF.

Best Regards and Thank You for your time.
  • #1,990
  • Jan 3, 2018 6:07pm Jan 3, 2018 6:07pm
Quoting mrdfx
{quote} I actually like the idea of reentering if a signal is still valid on the dash. Using the TS settings one of the levels could get hit and the trade closed on a momentary pullback, and then continuing on, and by using the reentry after i.e M15, we can get back in the trade fresh, and have already locked in pips from the previous trade. If you don't want to reenter then simply set the minsBetween2TradesOnSamePair to whichever time you want to wait for reentry, simple.
In my tests since few days, the re-enter in shorter time did not help much. But as I said I am testing this since very short time, few days aren'nt enough to have a clear conclusion. But I made my way on a differnt strategy. I use it only on the same day. trade time is high enough to avoid a fast re-enter. Then evening I close in any time and restart the next day. This sounds me more logical. Maybe my performance will be not so as good as yours 24h, but I want to give that a chance.
" Accepting losses is the most important single investment devise "
  • #1,991
  • Jan 3, 2018 6:37pm Jan 3, 2018 6:37pm
Quoting ebeckers
{quote} true, but that depends on what you specify for minsbetween2trade ? If you set it to 12 hrs ( = 720 mins ) you will be fine in 99,9999% of all cases. Or do you expect the trend to reverse 2x times within 12 hours ? Anyway I still don't see how only allowing the EA to open trades on candle close fixes your re-entry problem. If we would use candle close then the EA will still open a re-entriesy, but then every candle close. So even then you will need something like minsbetween2trade to prevent it from opening re-entries.
Yes,your absolutely right.Forget about the candle close issue,I was seeing that as the reason for the re-entry which was not correct. Now it has been explained I can see how it works so thank you for that.
The re-entry is what needs to be looked at. The only way I can see to solve it would be if the ea can check past trades. so if we had a sell setup,it could look at closed trades and if the last trade on the same pair was also a sell then not open a new one unless price has crossed ma15 since the closed trade. That way a new trade would not jeopardize the banked pips from the trailing stop and would be a valid trade in its own right.

I think that would work,but no idea if that is possible or not. Maybe (hopefully) there is a simpler way, that's the only one I can think of.

I can see the minbetween2trade would hold off an immediate entry but as Bgntrs suggested we could potentially miss a new signal.
  • #1,993
  • Jan 3, 2018 8:09pm Jan 3, 2018 8:09pm
Quoting ebeckers
{quote} true, but that depends on what you specify for minsbetween2trade ? If you set it to 12 hrs ( = 720 mins ) you will be fine in 99,9999% of all cases. Or do you expect the trend to reverse 2x times within 12 hours ? Anyway I still don't see how only allowing the EA to open trades on candle close fixes your re-entry problem. If we would use candle close then the EA will still open a re-entriesy, but then every candle close. So even then you will need something like minsbetween2trade to prevent it from opening re-entries.
If your using a shorter time frame, like m30/h1, then you would see reversals quicker. That's when you would miss them
  • #1,994
  • Jan 3, 2018 9:02pm Jan 3, 2018 9:02pm
[quote=ebeckers;10635698]{quote} Excellent idea! I'm currently busy adding a bunch of stuff to the EA for money management Use Fixed amount of $ per trade When its done you can tell the EA that you want to risk (

This is great! You must be a coding genius Ebeck. The whole risk management component is not something that the various EA schools take into consideration when they go into idea fragmentation and sci-fi projections. I'm looking forward to being able to test this ea with your refinements.
  • #1,995
  • Jan 4, 2018 3:10am Jan 4, 2018 3:10am
Quoting nihilist23uk
{quote} Yes,your absolutely right.Forget about the candle close issue,I was seeing that as the reason for the re-entry which was not correct. Now it has been explained I can see how it works so thank you for that. The re-entry is what needs to be looked at. The only way I can see to solve it would be if the ea can check past trades. so if we had a sell setup,it could look at closed trades and if the last trade on the same pair was also a sell then not open a new one unless price has crossed ma15 since the closed trade. That way a new trade would...
Thx i think the best thing would be to add a 'AllowReEntries' setting
When enabled the EA won't take buy orders after buy orders, or sell orders after sell orders within the time specified with minsBetween2Trades
so buy->sell->buy->sell signals will be taken
and buy->buy signals then the 2nd buy won't be taken unless the 2nd buy is after minsBetween2Trades

Does that sound good ?
  • #1,996
  • Jan 4, 2018 3:49am Jan 4, 2018 3:49am
how about making those 4 indicators as a "pin" for dasboard eax ?
and/or working together with Sam2x on his thread
"Hope" is dangerous word in trading, trade what you see not what you hope!
  • #1,997
  • Jan 4, 2018 3:53am Jan 4, 2018 3:53am

Version 1.18


New:
- 'new' GUI
- added MaxSpreadInPips. The EA won't open/close trades for a pair if the spread on that pair is greater then MaxSpreadInPips
- added MaxOpenTrades. The EA won't open more then MaxOpenTrades at any times (this is for all pairs combined)
- added AllowReEntries. Specifies if the EA is allowed to take re-entries after minsBetween2Trades or not
- added Moneymanagement method Fixed Amount where the EA will risk a max amount of $ per trade
- MoneyManagement When using FixedAmount or RiskPercentageOfAccount the money management now takes S/L and currency of the pair traded in account
so if a trade needs a bigger stoploss, then the EA will use a lower lotsize and vice versa. This is to make sure we never risk more $ per trade then specified in the settings
- added new trailing stop method. Actually this is not really a trailing stop. It just closes the order when a specific risk reward ratio (like 2:1) has been reached

Fixed:
- EA shows wrong nr of pips for open orders
- EA sometimes closed orders too late

Also included.. a first 'manual' for the EA which explains all settings and how things work. PLEASE read it before asking questions.
If you find anything missing in the manual, things which are not clear, or you are the next shakespeare and you can describe things much better
then let me know so we can update the manual.

Please note: There where a lot of changes done in this version. Although i've tested it quite a lot there could be some bugs left.
So better to test this on demo first
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File Type: pdf simple reversal ea.pdf   211 KB | 961 downloads
File Type: ex4 SimpleDailyTrendReversal v1.18.ex4   186 KB | 528 downloads
  • #1,998
  • Jan 4, 2018 4:03am Jan 4, 2018 4:03am
Wow ! Great work Ebeckers,well done.
  • #1,999
  • Jan 4, 2018 4:05am Jan 4, 2018 4:05am
Quoting nihilist23uk
Wow ! Great work Ebeckers,well done.
Thx, pls let me know is the 'AllowReEntries' is working ok for you
  • #2,000
  • Jan 4, 2018 4:05am Jan 4, 2018 4:05am
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