Looking for an EA to test my theory - TBA ForexScotty's EA

hi, u did not mention the TF, is it M30 ?

HI Fernand. Thank you for your interest.

Time frame for the purposes of the testing is M30. But that is an arbitrary choice. From a candle viewpoint using the indicators that correlate, the time frame only matters when we start calculating risk. The M30 tends to correlate on basic pairs where the 20 pip SL equates to 2% account risk and the SL is below recent candles assuming a correlation to go LONG . As I wish to limit my risk to 2% per trade, I am using the M30

As I mentioned earlier, I am seeking a collaboration here on FF. If I have to come up with the design myself and the programmer has to come up with the EA on their time, then what is the point of posting in a forum - thread format?

For many to benefit from the work of a couple people? Most people on this forum know that philanthropy is not a core value in Forex.

I am all about helping others. But I do not wish to spend my time or waste other's time on an idea that has no value.

But, If several can offer educated and experienced input and the result is that many benefit, then it all seems worth while to continue posting in a forum format. And why I started the thread.

Does the entry point have merit, or not? Don't think about an EA, or risk, or TP, or SL, or Money Management. All of that will come later.

Look at the correlation and tell me if you see the same thing I do.

And I challenge anyone to load the CCI, Awesome Oscillator or Accelerator Oscillator as they are very close, and Heikan Ashi on ANY CHART and Time Frame and take a look and tell me that this correlation does not appear over and over BEFORE a price movement in the same direction. It wont win EVERY time. But often enough to calculate a probability factor. Want to have a real conversation? A project management conversation? I can be reached by SKYPE. Just let me know and we'll set up a time.

Please, do not post comments on this thread asking or offering anything until you have least done that.

In all the time I have been on FF, I have never made the HomePage. I think I must have hit a nerve.

Want to have a real conversation? A project management conversation? I can be reached by SKYPE. Just let me know and we'll set up a time.

I don't understand why people in Forex don't want to have a conversation anymore. They speak in short sentences through cryptic emails.

It's no wonder why trust is at an all time low.

Hi, challenge accepted..
Just note: Some indicators --->Repaint<---- meaning that they can start showing one thing and change over time. For example: CCI can start below, draw itself to above 100 and then go back down below 100 as bar closes.
Note 2: I admire your approach to get sh1t done so please Look up hind-sight bias, Will link a nice video here for you:


Even though you either didn't understand or ignored some of the suggestions I tried to contribute, don't ignore the one above (the video).

From challenge: I ran a quick strategy tester using your 3 confirmations.
1)Prev HA blue for buy, red for sell.
2)Current AO on candle open green for buy, red for sell
3)CCi(14) above 100 for buy, below -100 for sell.

The strategy did make money, but also gave it back. SL was set to 20 pips and TP target was set to 40 pips (1:2 RR). Trades that passed the 1:1 RR were placed at B/E + some profit. Entries were made on the open of the candle that met the above conditions.

Problem chart areas, example below:


We need to think what can be done to prevent being taken out on those pullbacks. This 3rd tested day tookout all the profit from 2 previous days...
Useful Suggestion: Another proof of concept: Make the EA exit a position when the conditions are no longer met on the open of the next candle. For example you enter a buy and 2 candles later the AO changes to red. The trade is then exited. No SL or TP targets, exits based on the next candle not matching the conditions. This gave me better results as strongly trending trades (basically Big E's system) are followed and continued. Anyways, hope this helps and I suggest read over my previous posts more carefully regarding what I mentioned regarding CCI.

Due to repaining, entry signals are taken on next candles which lose this system some pips, but that is ok. Regarding making the front page: THe most recent comments on any post of the EA section will appear as long as a new comment was posted, such as this one. I am guessing you have not had a thread started until now.

Enjoy the video and I hope you learn something. All the best mate,
Tzamo

FINALLY - Thank you Tzamo! I knew you would come through. I did not ignore your recommendation. But I am focusing on step 1 and you are looking at the next steps.



The correlation is VERY consistant that when it occurs, the price continues. My hope was that someone could state that this correlation was false or flawed in some way. If we can join together in accepting that this correlation means something and can be trusted, then we can work together to see if there is anything out there that will mathematically give us a target price to set TP from the correlation initiation.

To choose an arbitrary TP based on the correlation will end in failure more often than a profitable close. Which is why if the correlation can be validated, we can try to validate phase 2 which is the body of the trade which will vary for every trade. The SL of 20 Pips establishes a base line of risk.

To say that this correlation must meet a 20 pip profit to win, is presumptive in nature. The price will move where it will. But, to choose for an example a 20 pip SL, and a profit target of the equivalent of 1 candle positive movement. And looking back and seeing that in almost every correlation, the was AT LEAST 1 positive candle movement, a high win rate should be achieved greater than losses.

Your example shows a failed trade, which is exactly why I ask if in anyone's experience of chart trading, might there be another indicator that could be used to filter them out.

There will be failed trades. I don't believe anything can change that myself. But there may be something there that can assist on limiting them.

Nice video by the way. But as I am looking at historical data without a confirmation from anyone that the indicators requested repaint or not, they can be considered actual data until proven otherwise

Hi Buddy, I don't want to mess your project...but if do allow I would like to present my ideas about your system. BTW I like your concept...!

I have created a random (basically double) chart with HA smoothed bars and a overlayed bar chart (to better watch the real price action) on EU M30 from yesterday.
I have marked with vertical lines (white=long, red=short) possible entries and got 6 ones from which at least 4 would have made very nice profits:


Edit: That pic is of course benefit of hindsight without any considering of possible repainting indis!
Stay tuned and have a nice weekend...!

Happy pipping, jdva

Another example from yesterday EURAUD, 5 signals ( 1 loss, 4 wins):

Hey guys,
i have a similar attempt as jdva.

i have taken a chart with range bar setup ( 3pips) + HA
CCI
AO
ADX
RVI

1) i'm looking for a cross in the ADX
2) i check all other indis if they give me a valid entry
( CCI around +/- 100 , AO tending up/downwards (and green or red ) , and RVI has crossed tends up or downwards )

3) enter the next candle ( care! its not timebased candles! )
4) try to get the trade breakeven after the second closed candle ?
5) Exit: probably when we get a closed candle to the opposite direction (look at pictures from friday and thursday )

!!! CARE! see on thursday the start of the day is ranging ! no good entry signals!

I didn´t test it live so far, but i will try this the next weeks
you will not get a lot of trades on a day but maybe some good movements can be captured

EDIT: Sorry forgot to say, that we can also place a relativly tight SL, just under or above the previus candle
which should be around 8 points

As described, that would not be a repaint. That is current bar price action. Re-painting is when the indicator changes the value or buy/sell indication for an already closed bar.

Typically, a repainting indicator has a statement like this for its main processing loop:
for(int i=0; i<limit; i++)
In contrast, honest indicators look like this:
for(int i=limit; i>=0, i--) // arby noticed my typo / fixed.

Note that in the 2nd statement of the 'honest indicator', the calculation for bar zero will be recalculated with each price quote that is received for the duration of the bar. This is valuable information,as you can see, during the bar's formation, what is happening to the indicator value for that bar.
- Not all re-painters are dishonest, there have been a few open and upfront discussions about how an indicator repaints and how they should used in light of this. But, that is unlikely to be the case for a hyped up email in your inbox about some sure fire system or other.

hi Lukeb, I think the correct conditional is:

for(int i=limit; i>=0, i--)

but by the way you are right