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Price Action Trading with Indicators! The Freebie System

  • #9,061
  • Jul 6, 2018 11:01pm Jul 6, 2018 11:01pm
Quoting xmess7
Closed All trades for 7.05%. I was tempted to leave them run and see how much more profit was to be gained but decided to start fresh next week. Next Week I will not touch it, just let it go on its own. I will just be comparing indicator results to what the EA puts out. The Image below is just before I closed all the trades. Notice how nicely the EA is matching the arrows. Oh I forgot mention. I added a condition that in order for the EA to take a new trade that the new signal must be ahead of the last trade direction. For example if the last trade...
Hi Jess amazing 7% one day I'm dreaming of 1 % :-)) here is some feedback,

1. I like strong quality setups - so I think it is a god idea to be more restrictive regarding the shape of failed pivots -As you have done already is fine.

2. and regarding 3 semafor within (1-3)candles or 1-5 - again I prefer rather few strong quality signals than many so so signals. Why not make it as an option with a variable input then we can try to optimize on it.

3. ''Obviously if we allow the EA to take all signals we would more than likely have alot more pips. Let me know if you want this as an option'': I think not, the way you have done it already seems fine. But what if I just want to have one trade running ?- Are there an option for Max trades open?


A question about the trend TF.

If I choose 1H - what happens if I have an open trade and I get an opposite signal will it close the current trade or just open a new trade in the opposite direction?


Look forward to see the new EA :-))

Regards
Jan
  • #9,062
  • Jul 7, 2018 10:57am Jul 7, 2018 10:57am
Quoting janus64
{quote} Hi Jess amazing 7% one day I'm dreaming of 1 % :-)) here is some feedback, ..... Regards Jan
Awesome thanx for the commets/questions

"7% one day I'm dreaming of 1 % "
Remember I am only using 5 pairs and each trade is set to a 1% risk of balance loss. So to a certain extent it is low risk trading. But what I have noticed is that even with one pair you get alot of trades. So that 1% you are looking for can possible be attained with even less risk.

"1. I like strong quality setups - so I think it is a god idea to be more restrictive regarding the shape of failed pivots -As you have done already is fine."
---Yep, the less you open trades the less you risk

"2. and regarding 3 semafor within (1-3)candles or 1-5 - again I prefer rather few strong quality signals than many so so signals. Why not make it as an option with a variable input then we can try to optimize on it."
---No problem,, that's what I thought would be needed an input. I'll add it for the final version.

"3. ''Obviously if we allow the EA to take all signals we would more than likely have alot more pips. Let me know if you want this as an option'': I think not, the way you have done it already seems fine. But what if I just want to have one trade running ?- Are there an option for Max trades open?"
---I am basing my observation on what I have seen this EA do in the past 3 weeks. It is possible that this version, with the latest trend filter is going to work as we saw when Dredding was doing it manually. That is that the majority of the time the trades will follow the trend. There will be days when this is not the case. The solution to that is REAL EASY. DONT TRADE THAT WEEK. If you start to see consecutive loses, 2-4 for example then I would stop trading for that week. I have noticed that in a weeks time the transition of the linebreak chart candles will start to align with the true trend. So waiting one week or a couple of days to reap the benefits of a trend is nothing. Oh and yes there is a MaxTrades Input.

"If I choose 1H - what happens if I have an open trade and I get an opposite signal will it close the current trade or just open a new trade in the opposite direction?"
---You have the option in the inputs to select UseAutoTrend=None. By doing that then the EA will trade any signal that is valid in any direction. The other UseAutoTrend options are _long, _short, LineBreak. LineBreak is the new filter and of course the other inputs tell the EA to assume upper trend is in those directions.


Also consider that the EA is configured to only allow new trades if all open trades are in profit. I had many cases where the EA would take one trade and then nothing for a couple of days cause price fell and profit was at about -30 pips. The indicator on the other hand does not consider that thing (cuase it doesnt trade right) and it was till showing new trade arrows. It wasn't until profit got above +1 pips that new trades were opened.

I will need to explain this in more details later. What you have is a combination of things. You can either set a MAxNumber of trades for the symbol and let the EA take trades based on the conditions happening again. The other thing you can set is a StackStep (with or without MaxNumTrades). This tells the EA to add trades after profit has moved X StackStep pips.

I might remove the stack feature cause just by the regular trades, I see more than enough... Let me know what you think.

Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #9,063
  • Jul 7, 2018 12:54pm Jul 7, 2018 12:54pm
Hi Jess,
It sounds fine and I can't wait for your update :-))).
Pls don't remove the stack feature I think it is a great idea - lets try it.
You know I'm following your great work with basket trading and become a big fan of CMS. In my opinion every strategy should have this incorporated as an extra filter so follow the trend and trade only when the pair reach a defined level in strength/weakness. I know this is not the original idea but perhaps in version xxx :-))))

Again thank you for your effort

Regards
Jan
  • #9,064
  • Jul 8, 2018 8:14pm Jul 8, 2018 8:14pm
Quoting xmess7
Yep, next week will be very interesting.. BTW that 7% was basically from 1 day of trading.
Hi Jess,
When the EA is completed - will the indicators be included in the EA code or do they need to be installed separately? Will there be an updated post with all the required components for installation.

Thanks again for all your efforts.
maahome
  • #9,065
  • Jul 8, 2018 9:35pm Jul 8, 2018 9:35pm
Quoting maahome
{quote} Hi Jess, When the EA is completed - will the indicators be included in the EA code or do they need to be installed separately? Will there be an updated post with all the required components for installation. Thanks again for all your efforts. maahome
Yep all the indicators will be in the EA. So no more hassle with me using different indicators than you. You can use the EA on its own ...

But I will also provided the Freebie indicator that shows arrows of where all conditions meet. That too will have the other indicators in it LOL.

Then u can have the manual too. Where u setup all the indicators on the chart. So basically the indicators are for us so we can SEE where signals are generated.
Our AWESOME IMAGINATION is the true holy grail!
  • #9,066
  • Jul 8, 2018 9:52pm Jul 8, 2018 9:52pm
Freebie Start of week.
Here we go. This is a screenshot of the beginning of this week. Take note of the balance and also take a look at the comment on why that second trade was not taken.
The EA has a filter... but the indicator does not have a filter. So you may see more Arrows on the indicator where there are no trades from the EA.

So as you can see Freebie already has 3 open trades... lets see what happens.

Enjoy..
Attached Image (click to enlarge)
Click to Enlarge Name: freebie_Test.jpg Size: 314 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #9,067
  • Jul 8, 2018 9:59pm Jul 8, 2018 9:59pm
Quoting xmess7
{quote} Yep all the indicators will be in the EA. So no more hassle with me using different indicators than you. You can use the EA on its own ... But I will also provided the Freebie indicator that shows arrows of where all conditions meet. That too will have the other indicators in it LOL. Then u can have the manual too. Where u setup all the indicators on the chart. So basically the indicators are for us so we can SEE where signals are generated.
I would just like to say thank you for taking this up and putting your time and effort into this> On top of it you are eager to share with everyone. Again thank you for your hard work and willing to share.
  • #9,068
  • Jul 12, 2018 12:44am Jul 12, 2018 12:44am
Quoting xmess7
Freebie Start of week. Here we go. This is a screenshot of the beginning of this week. Take note of the balance and also take a look at the comment on why that second trade was not taken. The EA has a filter... but the indicator does not have a filter. So you may see more Arrows on the indicator where there are no trades from the EA. So as you can see Freebie already has 3 open trades... lets see what happens. Enjoy.. {image}
Hi Jess,

Are you still testing ?
Regards
Jan
  • #9,069
  • Jul 12, 2018 11:14am Jul 12, 2018 11:14am
Quoting janus64
{quote} Hi Jess, Are you still testing ? Regards Jan
I plan to release the latesr version this friday. TheRe are still bugs that i am working out with the upper trend detection.

The key for everyone is to understand what the linebreak chart is doing, that is.. when is a candle developing and when is a candle closed. The open times of the linebreak chart are not sequential like that of the regular candles.This is the 'new' thing In the latest EA.
I have already provided an indicator that generates the offline chart of linebreak candles so you guys can stsrt working with it and undertand how it can be used in various ways to detect direction..

Currently i am only using the color of the last linebreak candle to tell direction. But we can use other things like the current candle or rsi crosses etc ..

So expect the release on friday and the gazillion questions on the following weeks lol

Peace
Our AWESOME IMAGINATION is the true holy grail!
  • #9,070
  • Jul 12, 2018 11:23am Jul 12, 2018 11:23am
Folks.. the profit is on dd . -10%.
Now i been battling bugs in the software that have caused loss of opportinities. For example.. on eurjpy the lonebreak candles hqve signaled long all week long... but due to a bug.. it changed to no trend detected.. there where several lkng attempts that woild of nicely kept the -10% down to a postivie profit.

So now thst i fixed the issue i will continue to monitor that the operation continues to work. So even thought the bugs will be fix we will need to figure out an mm strstegy.
For example i am goong to continue to use my long term setup.. I will lower the risk to .5% per pair and then if i see a -3-5% loss stop trading for the week and continue the next. or we can use the dredding setup and sew if we van get x% per day.

stay tuned ....
Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #9,071
  • Jul 14, 2018 8:38pm Jul 14, 2018 8:38pm
Quoting xmess7
EDIT:Originally I had posted the freebie indicator but have removed it. I may of made a mistake on how to determine a fib failure. Will need to recode and do some testing. I am releasing the new indicator and also the latest pivot indicator. so you guys can start to mess with it. I am also releasing the offline generator for the linebreak charts. Just set the linebreak indicator on a chart with D1 TF. Leave the default, you can either hit the button to open the chart or go to the FILE-->OFFLINE charts and find the chart. If you need help setting...

Hi xmess,

Can the 3 line break offline chart be based on the one minute chart?

Thank You very much for your contribution.

Regards
  • #9,072
  • Jul 23, 2018 12:18am Jul 23, 2018 12:18am
UPdate on latest Freebie EA.

Folks I am still working on this EA. I thought I would be able to release it by the end of last week but I saw bugs. The indicator was showing trades that the EA did not take.

Today I think I figured out why and it is not a bad thing... The EA is more strict than the indicator... so perhaps I should do the same with the indicator and I would probable get the same answers.

On another note the Trend indicator requires some work or MM to make it work for us properly. This week I am also going to formulate something like that.

I want to provide you guys with the EA that can at least provide you with some stable direction that you can take advantage.

Last week as I was allowing any trade to be taken and I would allow it to just go thru to the end of either a SL or TP. Well there were alot more SLs thatn TPs LOL. But I saw patterns that when used with proper MM it could of avoiding alot of the falls. This week I am going to employ the MM patterns I saw and see if this makes it a valid pip making machine.....

Thnx just be patient, it will be out soon..
J
Our AWESOME IMAGINATION is the true holy grail!
  • #9,073
  • Aug 30, 2018 11:57am Aug 30, 2018 11:57am
Quoting xmess7
UPdate on latest Freebie EA. Folks I am still working on this EA. I thought I would be able to release it by the end of last week but I saw bugs. The indicator was showing trades that the EA did not take. Today I think I figured out why and it is not a bad thing... The EA is more strict than the indicator... so perhaps I should do the same with the indicator and I would probable get the same answers. On another note the Trend indicator requires some work or MM to make it work for us properly. This week I am also going to formulate something like...
Thanks, I will wait for the final version keep it up

Can you add hide SL/TP function? I thought it's good for trading in DD brokers.
  • #9,074
  • Sep 1, 2018 11:33am Sep 1, 2018 11:33am
UPDATE ON EA v60

Folks:
Unfortunately it has not worked out as it looked like it would. Turns out the the Line Break information requires a considerable amount of wait time and perhaps larger pip stops. So I made some simple adjustments and was able to get it to at least not lose.. The result would be smaller loses or the account staying near its initial open. No real advancement but also no great loss.

For now I am putting this effort aside. I will come back to it but at a later time.

I am posting the EA. You will notice that the AutoTrend selection on has a less items to chosse from. The main item on the list is LineBreak and that was for testing purposes. The other 3 are long, short, and none. You will also notice on the display the trend detection for the week and a count down of seconds. That count down is just for to test and make sure that the EA is not freezing up. If you see those numbers stop and not continue to count then the EA has frozen.

So if anyone cares to try and see if they get better results please let us know. Thnx

Jess
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v60.ex4   178 KB | 294 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #9,075
  • Sep 17, 2018 10:07pm Sep 17, 2018 10:07pm
Hi-

I have been testing the v60 EA in both demo and small live account. Results are great on demo, not so much in the live account, but no significant losses either. To early to judge. Is it possible to have an option to exit at the opposite 3s? This may neutralize some of the entries which turn around after being in profit, and result in losses.
  • #9,076
  • Sep 18, 2018 1:34am Sep 18, 2018 1:34am
Quoting zorran
Hi- I have been testing the v60 EA in both demo and small live account. Results are great on demo, not so much in the live account, but no significant losses either. To early to judge. Is it possible to have an option to exit at the opposite 3s? This may neutralize some of the entries which turn around after being in profit, and result in losses.
zorran:
thnx for testing,,, done the 3s thing already.. not much improvement, or it got worse if i recall.

keep forward testing pls... if the demo continues to do good then that means we get to use a tradecopier .

save your set file pls..

Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #9,077
  • Sep 18, 2018 11:47am Sep 18, 2018 11:47am
Hi xm7-

Currently, I am using the defaults, with option only 3s. I would like to use the BE option and ATR based stop loss in future. But for now default is good. My demo is up 15% (2k acc) the live acc is up 1-2% (1k). The disparity between the accounts is, I guess, due speed of trade execution. Both accounts are with the same broker. Sometimes I get a trade on real but not demo and vice versa. Overall, I think its a good EA. The stop loss and take profit are pretty aligned to areas of S/R. I still have a lot of reading left to do on the thread. Any reason you dropped some of the UseAutoTrend options? What does linebreak option do?
  • #9,078
  • Edited 7:32am Sep 20, 2018 7:21am | Edited 7:32am
Hi Jess-

Can you please look at the screenshot below. The EA took a sell trade and lost. I don't see any reason it should have taken the trade. I use only 3s and number of candles is set to 4. This is live account. This has happened a few times. Interestingly, the demo didn't take the trade.
Can you please let me know your thoughts as I am concerned to use it on live.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 80 KB
  • #9,079
  • Sep 24, 2018 8:48am Sep 24, 2018 8:48am
so no need separate indicator installation? Just need to load the EA?
I am doing the manual Semafor trading and would like to try out the EA on demo. Would be good even just copy trade from demo.
  • #9,080
  • Sep 24, 2018 6:28pm Sep 24, 2018 6:28pm
I got it. With v60, we just need attached the ea. I will test on demo for a few weeks starting today using defauts setting except looking for Semafor 3 and time from LO to LC.
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