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Currency Grail Scalping System

  • #61
  • Nov 22, 2019 9:37am Nov 22, 2019 9:37am
Quoting chenxee
{quote} here you are. i simply implemented the set up PDF described, didn't put any stop loss. author however used words like "significantly greater than" which hard to interpret, i just code it the way i comprehend... {file}
Is the EA based on 1h tf?
I believe so I exist
  • #62
  • Nov 22, 2019 9:55am Nov 22, 2019 9:55am
Quoting Cologne
{quote} Is the EA based on 1h tf?
i think its 15 if someone can make it with adjustable tp and sl that would be great
  • #63
  • Nov 22, 2019 10:04am Nov 22, 2019 10:04am
Quoting Moolah
{quote} i think its 15 if someone can make it with adjustable tp and sl that would be great
Thanks, not using the EA now until it is clear. Trades by hand for now. Looks allright to me, so thanks for bringing it up.
I believe so I exist
  • #64
  • Nov 22, 2019 11:00am Nov 22, 2019 11:00am
Quoting jmss59
the holy grail exists {image}
Can you share this system? Please. Thanks.
  • #65
  • Nov 22, 2019 2:25pm Nov 22, 2019 2:25pm
Quoting osmanxx
{quote} Can you share this system? Please. Thanks.
Read the forum as everyone else does. Start at post 1
  • #66
  • Edited Nov 23, 2019 12:48am Nov 22, 2019 4:50pm | Edited Nov 23, 2019 12:48am
Quoting Cologne
{quote} Is the EA based on 1h tf?
It's not time-based, so you can use it on whatever timeframe you want. (EDIT: sorry I was wrong, it's coded with a fixed TP of 2 pips, so yes, it's for M15).

I'm working on an indicator, initially, that will show the entries. Once I'm convinced I have the rules correctly coded, I'll turn it into an EA.
"Pips are vanity. Profit is sanity."
  • #67
  • Nov 22, 2019 7:31pm Nov 22, 2019 7:31pm
Quoting i.o
EDIT: It is hit TP.. on the way to TP.. {image}
Dude, please, don't be naive and myopic. You think your trade hit the TP because of the magic pattern? Man, let me tell you one thing: there is no magic pill, no shortcut, and no holy grail. Here is why you profited from this trade:

Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.PNG Size: 33 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURCHFM5.PNG Size: 10 KB


You have been luck. Next time you will not. In this case there was 4 things in confluence in your favour:
1- A strong supply area
2- A psychological level
3- Previous days high that sometimes act as a "wall"
4- 80% ADR

All those things together in the same area. This is luck, this is not a magic pattern

Do homeworks like all successful traders did, and leave this thread.
  • #68
  • Nov 23, 2019 12:53am Nov 23, 2019 12:53am
Quoting AltosTrader
{quote} Read the forum as everyone else does. Start at post 1
Yes, I was read but i only ask this system...
  • #69
  • Nov 23, 2019 1:20am Nov 23, 2019 1:20am
Quoting PaulDV
{quote} It's not time-based, so you can use it on whatever timeframe you want. (EDIT: sorry I was wrong, it's coded with a fixed TP of 2 pips, so yes, it's for M15). I'm working on an indicator, initially, that will show the entries. Once I'm convinced I have the rules correctly coded, I'll turn it into an EA.
Great. I saw the 2pip tp also but the document stated 1 pip on 15m?
The thing my head explodes about is stop loss. Sometimes the pattern doesn't work out. Risk reward ratio is not good. However, sometimes price returns in our favor.

To all critics: offcourse there is no holy grail. Just let us talk about it. Btw, on my short backtesting I found that it works often, even when there is no special price level. 1 hour tf seems most reliable though.
Better look for a 0 spread broker.
I believe so I exist
  • #70
  • Edited 3:08am Nov 23, 2019 2:24am | Edited 3:08am
OK, make of this what you will...

I hacked @chenxee's EA a bit, and in doing so, made a small mistake with the order submission logic, resulting in the EA submitting a new order every 3 seconds or so! Realising my mistake, I fixed it, but then thought I'd add an option to trade it this way, and called it High Frequency Mode.

I've attached the EA for everyone to play around with, but thought I'd show the results. I ran the EA on EURUSD over a 3.5 year period (Jan 2016-Sep 2019) using quality tick data, and got the following:

In High Frequency Mode using lot size of 0.02:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 40 KB


In normal mode, using lot size of 2.0:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 26 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 38 KB

(That one loss actually hit TP - but was registered as a loss due to swap fees making the closing amount negative)

So, for all of the naysayers out there, this strategy does seem to have some merit after all.
Attached File(s)
File Type: mq4 scp.mq4   4 KB | 1,349 downloads
"Pips are vanity. Profit is sanity."
  • #71
  • Nov 23, 2019 2:44am Nov 23, 2019 2:44am
Quoting PaulDV
OK, make of this what you will... I hacked @chenxee's EA a bit, and in doing so, made a small mistake with the order submission logic, resulting in the EA submitting a new order every 3 seconds or so! Realising my mistake, I fixed it, but then thought I'd add an option to trade it this way, and called it High Frequency Mode. I've attached the EA for everyone to play around with, but thought I'd show the results. I ran the EA on EURUSD over a 3.5 year period using quality tick data, and got the following: In High Frequency Mode using lot size of...

It looks worth it to make an EA dashboard for multiple pairs?
  • #72
  • Nov 23, 2019 2:56am Nov 23, 2019 2:56am
Quoting PaulDV
OK, make of this what you will... I hacked @chenxee's EA a bit, and in doing so, made a small mistake with the order submission logic, resulting in the EA submitting a new order every 3 seconds or so! Realising my mistake, I fixed it, but then thought I'd add an option to trade it this way, and called it High Frequency Mode. I've attached the EA for everyone to play around with, but thought I'd show the results. I ran the EA on EURUSD over a 3.5 year period using quality tick data, and got the following: In High Frequency Mode using lot size of...
Great job. Looks promissing.
If I understand correctly your tp is 5 pips and sl is 100 pips? One can change this to his liking I guess. Is it of any importance that my broker has points instead of pips? If so, I think I need to change settings to tp 50 and sl 1000.

According to these numbers, your ea is based on 1h tf correct?
I believe so I exist
  • #73
  • Nov 23, 2019 2:58am Nov 23, 2019 2:58am
Quoting The1Student
{quote} It looks worth it to make an EA dashboard for multiple pairs?
I don't think there's any need for a dashboard if you're going to run it on autopilot - simply have one copy of the EA running on each chart you want it to run for. It'd be worth optimising the parameters for each pair though as they will differ.
"Pips are vanity. Profit is sanity."
  • #74
  • Nov 23, 2019 3:00am Nov 23, 2019 3:00am
Quoting Cologne
{quote} Great job. Looks promissing. If I understand correctly your tp is 5 pips and sl is 100 pips? One can change this to his liking I guess. Is it of any importance that my broker has points instead of pips? If so, I think I need to change settings to tp 50 and sl 1000. According to these numbers, your ea is based on 1h tf correct?
The best SL is actually 135.
TP and SL are in pips and the EA adjusts this internally, so you don't have to worry about points.
Above results were on H1, yes.
"Pips are vanity. Profit is sanity."
  • #75
  • Nov 23, 2019 3:01am Nov 23, 2019 3:01am
Quoting PaulDV
OK, make of this what you will... I hacked @chenxee's EA a bit, and in doing so, made a small mistake with the order submission logic, resulting in the EA submitting a new order every 3 seconds or so! Realising my mistake, I fixed it, but then thought I'd add an option to trade it this way, and called it High Frequency Mode. I've attached the EA for everyone to play around with, but thought I'd show the results. I ran the EA on EURUSD over a 3.5 year period using quality tick data, and got the following: In High Frequency Mode using lot size of...
Share with us the timeframe of your test.
Looking for profitable short term trades ...|
  • #76
  • Nov 23, 2019 3:07am Nov 23, 2019 3:07am
Quoting Js3mwtRc
{quote} Share with us the timeframe of your test.
January 2016 to September 2019
"Pips are vanity. Profit is sanity."
  • #77
  • Nov 23, 2019 3:20am Nov 23, 2019 3:20am
My Tester shows loss loss and more loss.
Please, show us your settings
Just an opinion. Based on research
  • #78
  • Nov 23, 2019 3:26am Nov 23, 2019 3:26am
Quoting since80808
My Tester shows loss loss and more loss. Please, show us your settings
Which settings are you referring to? I've defaulted the parameters to the best settings for EURUSD, with the exception of SL which should be 135 instead of 100.
"Pips are vanity. Profit is sanity."
  • #79
  • Nov 23, 2019 3:35am Nov 23, 2019 3:35am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 227 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 238 KB
Just an opinion. Based on research
  • #80
  • Nov 23, 2019 3:53am Nov 23, 2019 3:53am
Quoting since80808
{image}{image}
What date range and parameters did you use?
"Pips are vanity. Profit is sanity."
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