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  • #521
  • May 24, 2018 4:46am May 24, 2018 4:46am
Quoting jmtini
{quote} Hi jason Thanks, that's very helpful indeed. I presume the RSI setting is for trading view platform not MT4 of course but thanks so much EDIT Looks like we might get a chance to try it out soon as a few pairs are in a pullback situation right now!
The formula/ calculation for the RSI-2 HLC/3 shopuld be more or less the same for MT4 and Tradingview.com, the only difference is only the broker/ data feed.
  • #522
  • Edited 6:47am May 24, 2018 6:13am | Edited 6:47am
Nice work Jason.. I wish a few more would say thank you.. Not tried it yet as will have to get another test demo.

Quick lesson.. Why some advice on forex factory is just plain wrong and why your're getting bad advice.

Take a look at the GBP/CHF chart - It's on the M30.... All the guru's, experts, kings and queens will just say its in Consolidation. Waiting for a breakout. No money going into it.. I tell you there is a lot of money going into the GBP and the CHF.. But the're buying it in large amounts. Large amounts of money is flowing into the GBP and the CHF.. When that happens the pair will hardly move. Just up and down, up and down with small candles.. Until the money flow dries up in one of the currencies. It will stay like that. Then a big breakout out when the money flow dries up on ONE of the currencies.

Seeing what a currency is doing is more valuable then seeing what a currency pair is doing.

Edit. I got a PM saying that OK you sold the GBP/JPY last night and it did go down a lot. About 400 pips but then it went back up leaving you in a losing position.
I will try and explain here as well.... Well no, not at all, I had a tight rolling stop loss as I had to get some sleep. When the money flow stopped in the JPY the price of the GBP/JPY will just rise again. As say 90% closed there trades in the GBP/JPY - They had to buy the GBP to close there positions. So the money flow to the JPY dried up and then there was a lot of money flow going in to the pound as they closed them. More technical then that but that is in simple terms
Attached Image (click to enlarge)
Click to Enlarge Name: Consolidation.png Size: 12 KB
The most violent element in society is IGNORANCE
  • #523
  • May 24, 2018 5:36pm May 24, 2018 5:36pm
Its not going to make that magical 1% - British bank holiday this Monday 28th May. All London markets will be shut. So going away for three days from tomorrow.
Gone very quiet here.. So won't post so much... See what happens next week with the contrarian method.
Attached Image (click to enlarge)
Click to Enlarge Name: GoldUSD%.png Size: 7 KB
The most violent element in society is IGNORANCE
  • #524
  • May 24, 2018 6:37pm May 24, 2018 6:37pm
Quoting neilgroom
Its not going to make that magical 1% - British bank holiday this Monday 28th May. All London markets will be shut. So going away for three days from tomorrow. Gone very quiet here.. So won't post so much... See what happens next week with the contrarian method. {image}
It's also Memorial Day Holiday here in the states on Monday. Banks will closed. Too bad I was ready to see how the markets react to the magical 1%. No worries.....we'll get'em next time. We just have to be patient and smart. I can tell you whats next with the Contrian method.....WINS and %%%'s. Have a great weekend my friend! Take the Mini for a LOOONG cruise.....don't forget to take the wife with you.
  • #525
  • Edited 8:58pm May 24, 2018 8:13pm | Edited 8:58pm
Quoting jasonckb
As I am not a full time trader and don’t want to stick to the chair to monitor the market for my leisure day (trying as sometime addicted to trading), I have tried to build an ea to cater the purpose. As I am not a programmer and have very little knowledge in mql4 coding, I have used a paid service (web-based) to help build the ea. And as the choices there cannot fully match with the need, the ea can only be semi-auto. So the logic of the ea is as below: Open Limit Buy Order when: {C}1) Myfxbook short position is over 70% and combined long/ short...
I have put the ea for 5 pairs EU.GU.NU,UC and GC for demo test. So far, there were EU, UC, NU short opened successfully, so at least the algo and code of the ea is behaving normal. Let see the contrarian approach can be more mechanical or not.
Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: NU.PNG Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: UC.PNG Size: 62 KB
  • #526
  • May 24, 2018 8:36pm May 24, 2018 8:36pm
Quoting jasonckb
{quote} I have put the ea for 5 pairs EU.GU.NU,UC and GC for demo test. So far, there were GU, UC, NU short opened successfully, so at least the algo and code of the ea is behaving normal. Let see the contrarian approach can be more mechanical or not.
What time frame are you using? 4 hr chart? I must say that the RSI/fxbook worked perfectly yesterday on GJ
  • #527
  • May 24, 2018 8:39pm May 24, 2018 8:39pm
Quoting jmtini
{quote} What time frame are you using? 4 hr chart? I must say that the RSI/fxbook worked perfectly yesterday on GJ
Are you using rsi 2 hlc3 70/30 and 5000 volume throughout the week regardless of currency strength?
  • #528
  • May 24, 2018 8:44pm May 24, 2018 8:44pm
Quoting jmtini
{quote} What time frame are you using? 4 hr chart? I must say that the RSI/fxbook worked perfectly yesterday on GJ
I paste it in H4 chart.....but as I hard coded the trigger signal TF to be H4/ D1, so I think TF of the chart should not affect its triggering algo.
  • #529
  • May 24, 2018 8:50pm May 24, 2018 8:50pm
Quoting bojack34
{quote} Are you using rsi 2 hlc3 70/30 and 5000 volume throughout the week regardless of currency strength?
Nvmd I see you are talking about the ea
  • #530
  • May 24, 2018 9:02pm May 24, 2018 9:02pm
Quoting jasonckb
{quote} I have put the ea for 5 pairs EU.GU.NU,UC and GC for demo test. So far, there were EU, UC, NU short opened successfully, so at least the algo and code of the ea is behaving normal. Let see the contrarian approach can be more mechanical or not. {image} {image} {image}
Are you using MT4 Charts and RSI?
  • #531
  • May 24, 2018 9:04pm May 24, 2018 9:04pm
Quoting bojack34
{quote} Are you using MT4 Charts and RSI?
As per post#519. Yes. And as I am not a coder just using a web service to write the siple code........so I cannot incorporate the myfxbook position and volume in the ea. One need to gauge the direction by himself and chose Long only or short only in the ea setting but never Both
  • #532
  • Edited May 25, 2018 12:59am May 24, 2018 9:40pm | Edited May 25, 2018 12:59am
As mentioned in an earlier post please be careful of using the RSI-2 on MT4 price feeds. That's why I never use it to trade. It is so different to tradingview charts.
I know it makes life easier but it just doesn't work the same way.. It will wipsaw you in and out of trades.
The most violent element in society is IGNORANCE
  • #533
  • May 24, 2018 9:44pm May 24, 2018 9:44pm
Quoting neilgroom
As mentioned in an earlier post please be careful of using the RSI-2 on MT4 price feeds. That's why I never use it to trade. It is so different to tradingview charts. I know it makes life easier but it just doesn't work the same way.. It will wipsaw you in and out of trades. Jason use an SMA 3 shift 3 instead of the RSI {image}
Hi Neil,

My broker feed is GP which is an ECN and also quite high quality. And I have compared the indi reading of RSI-2 with tradingview, not much different. So as I said, it is a broker datafeed problem rather than formula difference if I am thinking it wrong.
  • #534
  • May 24, 2018 11:50pm May 24, 2018 11:50pm
Quoting jasonckb
{quote} As per post#519. Yes. And as I am not a coder just using a web service to write the siple code........so I cannot incorporate the myfxbook position and volume in the ea. One need to gauge the direction by himself and chose Long only or short only in the ea setting but never Both
I think MrPorridge was able to code an indi that could pull data from myfxbook outlook. Just thinking that the indicator (or the coder himself) could be useful in making your EA fully automatic... My 2 cents.
Simplicity Is The Ultimate Sophistication!
  • #535
  • May 25, 2018 12:34am May 25, 2018 12:34am
Quoting Impenia
{quote} I think MrPorridge was able to code an indi that could pull data from myfxbook outlook. Just thinking that the indicator (or the coder himself) could be useful in making your EA fully automatic... My 2 cents.
Yes. I think he can definitely automate it as his indi is already in ea firm.
  • #536
  • May 25, 2018 12:56am May 25, 2018 12:56am
Hi all,

You are right I love to coding... ATM Im studing closely this data and where are the most accurate stripes for the tickets. I have already seen something that I am carrying in manual and in real with great success. But it will take a long way to go, because in this type of EA, if you can not do anything backtest or even imagine how it would be in the future, you have to put it and let the days pass.
I leave the latest version, I have corrected virtually all errors. Only very occasionally gives a stack overflow, in that case open the global variables and in MyFxL = 1, change it to MyFxL = 0 and it's like a restart.
I recommend refresh every 5 minutes.
Attached File(s)
File Type: ex4 MyFX v1.1.ex4   627 KB | 345 downloads
  • #537
  • May 25, 2018 2:40am May 25, 2018 2:40am
Quoting MrPorridge
Hi all, You are right I love to coding... ATM Im studing closely this data and where are the most accurate stripes for the tickets. I have already seen something that I am carrying in manual and in real with great success. But it will take a long way to go, because in this type of EA, if you can not do anything backtest or even imagine how it would be in the future, you have to put it and let the days pass. I leave the latest version, I have corrected virtually all errors. Only very occasionally gives a stack overflow, in that case open...
Hi MrPorridge,

Please see my PM.
  • #538
  • May 25, 2018 3:44am May 25, 2018 3:44am
Quoting MrPorridge
Hi all, You are right I love to coding... ATM Im studing closely this data and where are the most accurate stripes for the tickets. I have already seen something that I am carrying in manual and in real with great success. But it will take a long way to go, because in this type of EA, if you can not do anything backtest or even imagine how it would be in the future, you have to put it and let the days pass. I leave the latest version, I have corrected virtually all errors. Only very occasionally gives a stack overflow, in that case open...
Great tool! Tnx u so much. I will write an add on to plot value
  • #539
  • May 25, 2018 4:54am May 25, 2018 4:54am
New version with 4 more parameters...
1) PullBack_OB_RSI2 = 80
1) Breakout_OB_RSI2 = 70
1) PullBack_OS_RSI2 = 20
1) Breakout_OS_RSI2 = 70

Reasons:
1) Most pull back go deeper than 70 (save more pips)
2) Faster/ better price to trigger trade (save more pips)
Attached File(s)
File Type: ex4 Pull Back Breakout Trend Trader.ex4   44 KB | 474 downloads
  • #540
  • May 25, 2018 5:28am May 25, 2018 5:28am
Quoting neilgroom
Its not going to make that magical 1% - British bank holiday this Monday 28th May. All London markets will be shut. So going away for three days from tomorrow. Gone very quiet here.. So won't post so much... See what happens next week with the contrarian method. {image}
Hi i looked at the currency pairs on scorpionfx and i compared them on myfxbook forecast and mt4 but some are contraria your approach, can you explain me well maybe i did not understand very well your approch there are things to explain well before....in conclusion of we bad opened the position we would be more at loss than profit i state that i am non a newbie in trading and your approach is new for me i ask you to explain well what you do and that you look before opening a position trade thank you very much
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