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Simple Monday-Tuesday System (attached calculator)

  • #41
  • Jan 27, 2020 12:40pm Jan 27, 2020 12:40pm
Quoting jpfalls
{quote} I am also in the US and am wondering with the no-hedging rules, are you able to set pending orders in either direction? Or, do you just watch and enter a position once one or the other level is broken?
+++++++++++++++++++++++++

Using Oanda, you can place opposing trades, as you can on all brokers I'm aware of. As noted, you would need to manually close one order once you have opposite entry.
Before FIFO (first in first out), you were able to place OCO (One Cancels the Other) trades, so you would not need to manually cancel opposite order.
  • #42
  • Jan 27, 2020 12:52pm Jan 27, 2020 12:52pm
In my post #39 I said;
Trades with entry totals - 9. for +51pips [+61%] & -124pips [-83%].

Kind of confusing, so let me break it down:
• Trades with Entry, refers to all trades entered that did not reach TP or SL.
• I further broke down those in both pips & % based on fib levels.
• Also these trades were measured by taking price at close of Friday. This could be different for each of us, depending on how you decide to manage.
  • #43
  • Jan 27, 2020 2:09pm Jan 27, 2020 2:09pm
Hi there!

I like the simplicity of the system, I'm not an expert coder but will try to make an EA tonight when I get home(GMT-3).

One thing I know I will struggle with is ignoring weeks with festivity days but will make the simple rules first and we can work the rest later.
  • #44
  • Jan 28, 2020 2:42am Jan 28, 2020 2:42am
Ok, here it is. A very basic version just to see if I understood all the rules correctly because english is not my primary language and I'm still new in this (less than 1 year in forex)

What the EA is doing:
-When Tuesday ends and the daily bar closes it will put 1 buystop order and 1 sellstop order and set the TP and SL according to the input percentages of the range between the high and low of Monday+Tuesday. This will do it only if there was no other operation already with the magic number for the day.
-When one of the two pending orders opens it will cancel the other pending order
-On Friday it will delete any pending order

What the EA is not doing
-Closing any order even if it was open for months as the OP didn't give directions for this
-Trailing stop (I can add this feature if needed)
-Money management (Same)

Please test it and point any bugs you may find and of course feel free to modify it as you please but only only and only if you are going to share your work with the rest of us

Cheers!
Attached File(s)
File Type: mq4 MoTu_System_v1.0.mq4   11 KB | 870 downloads
  • #45
  • Jan 28, 2020 3:21am Jan 28, 2020 3:21am
Sangui... I had just finished coding this up and saw your post lol... Code looks nice.. Thanks for sharing..
  • #46
  • Jan 28, 2020 6:14am Jan 28, 2020 6:14am
Quoting Sangui
Ok, here it is. A very basic version just to see if I understood all the rules correctly because english is not my primary language and I'm still new in this (less than 1 year in forex) What the EA is doing: -When Tuesday ends and the daily bar closes it will put 1 buystop order and 1 sellstop order and set the TP and SL according to the input percentages of the range between the high and low of Monday+Tuesday. This will do it only if there was no other operation already with the magic number for the day. -When one of the two pending orders opens...
+++++++++++++++++++++++++++++
Thank You. Good job.
One thing to be aware of, some brokers have a different end of day time. In this case there could be SIX daily bars, instead of FIVE.
Five PM New York time (2200 GMT) would give you 5 daily bars. This would change during those times of the year that when your zone may have some sort of Daylight Saving.
  • #47
  • Jan 28, 2020 7:56am Jan 28, 2020 7:56am
Just finished backtesting 2019, with first 4 weeks of 2020. GbpUsd ONLY!

Criteria:
• 15% Breach of Monday Tuesday Range.
• Profit @ 65% of range.
• Loss @ 80%* retrace of range (= to loss of 95% of total range). Other Stop Losses have been suggested in this thread.
• No Win, No Loss trades closed @ market closing on Friday. This may not be the best way to finish for week.
• No Trades when range is too large. I used 150 pips for this range. Basically double the ADR for GU.

All totals are in % only. % is based on Fibonacci Range of Monday, Tuesday Ranges, NOT Account %!

Final total for 56 weeks, +920%.
• 27 Wins
• 4 Losses
• 15 No Trades because of Range being Too Large
• No Win, No Loss trades, are figured in grand total

* Suggested Stop Loss of 10% opposite side of range (-125%), would have been hit on all 4 losses I recorded.
  • #48
  • Jan 28, 2020 8:35am Jan 28, 2020 8:35am
Quoting mtbb
Sangui... I had just finished coding this up and saw your post lol...
Ohh well, the practice never hurts right?
Quoting mtbb
Code looks nice.. Thanks for sharing..
Thanks mate, if you have ways to improve it please send me a pm, I'm intrested in seeing how an advanced coder would do it. I'm not sure I'm able to respond yet though as a junior member, but I will when I am.
  • #49
  • Jan 28, 2020 8:38am Jan 28, 2020 8:38am
Quoting diamonddbw
{quote} +++++++++++++++++++++++++++++ Thank You. Good job. One thing to be aware of, some brokers have a different end of day time. In this case there could be SIX daily bars, instead of FIVE. Five PM New York time (2200 GMT) would give you 5 daily bars. This would change during those times of the year that when your zone may have some sort of Daylight Saving.
Thank you diamonddbw, you are right, I will take that into account for next version if the system proves to be profitable, I didn't have time to backtest it yet.
  • #50
  • Jan 28, 2020 11:00am Jan 28, 2020 11:00am
Sangui, thanks for the EA! Some thoughts...

Number 5 below may be an error?

1. Option to keep the opposite pending order open even if it opens to the other side. Many times the other trade would help alleviate some lose.
2. Can we allow for trading on Friday? In my system, anyway, I allow for trades on Friday. The pending orders should be deleted at Friday close, not Friday open. Maybe an option to open on Fridays or not?
3. Motu Maximum Range of the Weekly ATR. Explained/Formula: MoTu range times _____ (option, e.g., .75) must be less than Weekly ATR 14 period to open trade.
4. Maximum monthly range percentage. If the present month has already reached ______ (option, e.g., .75) of the previous months ATR 14 reading, do not open. For example, the trade on 2019.02.27. February had already reached a range of about 515. The previous months ATR was 533. Therefore, if this was set to .95, the trade would not have opened.
5. On mine, 2019.03.20 has a deleted sell order. It should have stayed open. Did that happen for you?

That should suffice. I really appreciate your contribution, Sangui! Much appreciated!
  • #51
  • Jan 28, 2020 1:19pm Jan 28, 2020 1:19pm
Hi 4ecstasy, thank you for sharing the system!

I will see what I can do tonigh but for a quick answer:

1. Will add
2. At the moment the EA puts orders only on Wednesday but yes, I can extend it to Friday, if you backtest though they will always be put at the first tick on Wednesday. You are right, is deleting orders at Friday's open, will make it to delete them on close or a couple of hours before to prevent high spread common on market close.
3. Will study
4. Will study
5. Will check
  • #52
  • Jan 28, 2020 4:32pm Jan 28, 2020 4:32pm
Hello! For some reason, the calculator doesn’t work for me. Do I need to fill in all the cells? or just the first two? Maximum and minimum? I enter the numbers and further calculations do not occur.
  • #53
  • Jan 28, 2020 5:11pm Jan 28, 2020 5:11pm
Quoting Sangui
Hi 4ecstasy, thank you for sharing the system! I will see what I can do tonigh but for a quick answer: 1. Will add 2. At the moment the EA puts orders only on Wednesday but yes, I can extend it to Friday, if you backtest though they will always be put at the first tick on Wednesday. You are right, is deleting orders at Friday's open, will make it to delete them on close or a couple of hours before to prevent high spread common on market close. 3. Will study 4. Will study 5. Will check
Thanks so much! Regarding 2, we might need to have a max spread entry to prevent opening during high spreads.
  • #54
  • Jan 28, 2020 5:11pm Jan 28, 2020 5:11pm
Quoting iDentist
Hello! For some reason, the calculator doesn’t work for me. Do I need to fill in all the cells? or just the first two? Maximum and minimum? I enter the numbers and further calculations do not occur.
Not sure what the problem is; make sure your numbers are correct. You should only have to change the fist two cells, yes.
  • #55
  • Jan 28, 2020 6:21pm Jan 28, 2020 6:21pm
1. Done
2. Done
3-4. I guess it's possible but it will take me a little more time because they act on different timeframes so I think the only way is by editing, substracting and modifying the indicator's code. If someone else knows how to do it quickly please go ahead.
Don't you think that this functionality will filter too many good trades?
5. What happened here is that two rules were contradicting. A buy order was opened on the previous week but didn't hit TP or SL, so when it sets the buystop and the sellstop on Wednesday it deletes the sellstop inmidiately as we already have an opposite order open. I changed it to compare only with the current week orders and now it works fine. Good catch!
  • #56
  • Jan 28, 2020 6:27pm Jan 28, 2020 6:27pm
Quoting Sangui
1. Done 2. Done 3-4. I guess it's possible but it will take me a little more time because they act on different timeframes so I think the only way is by editing, substracting and modifying the indicator's code. If someone else knows how to do it quickly please go ahead. Don't you think that this functionality will filter too many good trades? 5. What happened here is that two rules were contradicting. A buy order was opened on the previous week but didn't hit TP or SL, so when it sets the buystop and the sellstop on Wednesday it deletes the sellstop...
3-4. It could take out good trades, in fact it will. But as you note, the question is will it be too many? It's your choice, naturally. But I think it will increase the profit factor and decrease the drawdown. Yes, the overall profit may go down, but my hunch is is that it'll make the system more robust.

Looking forward to an update, thanks so much!
  • #57
  • Jan 28, 2020 6:51pm Jan 28, 2020 6:51pm
Changes:
-Option to keep the opposite pending order open when one side opens
-Trade can now be initialized on Wed, Thu and Fri
-Settable time to delete pending orders on Fri
-Fixed some bugs and improved code reading

Notes:
Server time for calculating the highs and lows won't be configurable for now, only pending order cancel time.
Attached File(s)
File Type: mq4 MoTu_System_v1.1.mq4   7 KB | 731 downloads
  • #58
  • Jan 28, 2020 9:44pm Jan 28, 2020 9:44pm
Quoting Sangui
Changes: -Option to keep the opposite pending order open when one side opens -Trade can now be initialized on Wed, Thu and Fri -Settable time to delete pending orders on Fri -Fixed some bugs and improved code reading Notes: Server time for calculating the highs and lows won't be configurable for now, only pending order cancel time. {file}
Thanks for the ea. Anyway it can be tested on stratagy tester? I am trying it and it's not working.
Thanks
  • #59
  • Jan 28, 2020 10:34pm Jan 28, 2020 10:34pm
Quoting Azis1234
{quote} Thanks for the ea. Anyway it can be tested on stratagy tester? I am trying it and it's not working. Thanks
Yes, it can, I'm doing it and not getting good results, at least with the actual parameters. At the moment I'm running an optimization that will take a couple of hours.

What message are you getting? Can you provide a screenshot?
  • #60
  • Jan 29, 2020 3:43am Jan 29, 2020 3:43am
Just having a play with this pair, JPY strong, CHF little weak

Beware all the GBP news

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200129-193953_MetaTrader 4.jpg Size: 524 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200129-193923_Chrome.jpg Size: 332 KB


PS = using 20% of the range at both High and Low
It takes a lot for me to IGNORE you, but you can try.
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