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Daily Breakout with TP & SL Fibonacci Ranges

  • #21
  • Feb 22, 2020 1:31pm Feb 22, 2020 1:31pm
Quoting Beren
Hi northwind, which set are u using? The same you posted before? As u said, aplying a breakeven option and break the open order in several take profit levels would be awesome
Hi Beren,
1. Yes same settings as posted.
2. Also tried opening multiple trades by loading EA on two charts for same pair with different TP.
Worked well.
3. Now need to have SL adjust to BE plus commission, then trailing as profit/price increases.
Perfidious Pips
  • #22
  • Feb 22, 2020 5:26pm Feb 22, 2020 5:26pm
Will open demo to try, thx
MTN
  • #23
  • Feb 22, 2020 5:33pm Feb 22, 2020 5:33pm
Quoting northwind
Results for today, 02-20-2020, so far. No intervention. They either hit TP or SL. The results would be much better with manually closing trades but I don't have time to watch the screen all day. And, the last 6 are still running. {image} {image} {image} {image} {image} {image}
Hi northwind,

great idea and results.

You mentioned "The results would be much better with manually closing", my question is, what do you mean by this? Moving manually SL to BE or?

Cheers

PC
Less is more...
  • #24
  • Feb 22, 2020 10:51pm Feb 22, 2020 10:51pm
This is the first content I read here and I am wowed. Northwind, could you please share the EA done by Sangui, would very much appreciate it.
  • #25
  • Feb 23, 2020 7:14am Feb 23, 2020 7:14am
Quoting pipcruiser
{quote} Hi northwind, great idea and results. You mentioned "The results would be much better with manually closing", my question is, what do you mean by this? Moving manually SL to BE or? Cheers PC
Hi PC,
Yes, "Moving manually SL to BE" or trailing stop on the price.

For example, say the TP is set at +50% but the price only gets to +48%.
So EA doesn't close the trade and it ranges around the entry price or hits SL at -15%.
A loss which could have actually been a profit.
Manually you could move SL to BE and/or close the trade at +40% or +35% or +25%.
Perfidious Pips
  • #26
  • Feb 23, 2020 7:26am Feb 23, 2020 7:26am
Quoting redfly
This is the first content I read here and I am wowed. Northwind, could you please share the EA done by Sangui, would very much appreciate it.
Hi Redfly,
Welcome to FF.

Let's play a game called Reading For Pips.
Instructions:
Start at Post #1 and read it.
Read post #2.
Read post #3.
We're getting warmer.
Read post #4.
Read post #5.
Whoa, what do we find at the bottom of the post?

Anticipating your next question - What are the perfect setting?
Read a few more posts and you will discover the answer.
Maybe not perfect settings, but a great place for you to start exploring what works for you.
All the best.
Perfidious Pips
  • #27
  • Feb 23, 2020 8:23pm Feb 23, 2020 8:23pm
Quoting northwind
{quote} Hi PC, Yes, "Moving manually SL to BE" or trailing stop on the price. For example, say the TP is set at +50% but the price only gets to +48%. So EA doesn't close the trade and it ranges around the entry price or hits SL at -15%. A loss which could have actually been a profit. Manually you could move SL to BE and/or close the trade at +40% or +35% or +25%.
Thanks a lot northwind - have a great trading week..


PC
Less is more...
  • #28
  • Feb 24, 2020 2:05pm Feb 24, 2020 2:05pm
Are you running the ea on 28 pairs?
Anything above the line is an uptrend, below the line is a downtrend.
  • #29
  • Feb 24, 2020 2:17pm Feb 24, 2020 2:17pm
Quoting Degolep
Are you running the ea on 28 pairs?
Hi Degolep,
Thanks.
No, not yet. Currently, only on 8 or 10 pairs.
This is Beta version of EA and still needs some work.
Plan to run on 28 pairs when/if next version is released.
Basket approach should be good way to use this EA.
NW
Perfidious Pips
  • #30
  • Feb 24, 2020 11:35pm Feb 24, 2020 11:35pm
Anyone doing this manual ? Going to give it a go on gbpusd today.. what are the 10pairs U guys are looking at ?
  • #31
  • Feb 25, 2020 5:32am Feb 25, 2020 5:32am
Quoting PhillipmC
Anyone doing this manual ? Going to give it a go on gbpusd today.. what are the 10pairs U guys are looking at ?
Hi PhillipmC,
You can try strong vs weak pairs.
Finviz and FXBlue have free currency strength indicators.

Or you can go bargain hunting trying pairs with lowest spread.
Attached is an indicator from maryjane which shows list of pairs sorted by lowest to highest spreads.
The larger the number the lower the spread. I think the calculation is average ADR / spread.
Attached Images
Attached File(s)
File Type: ex4 #R3_BargainTest.ex4   18 KB | 455 downloads
File Type: mq4 #R3_BargainTest.mq4   9 KB | 618 downloads
Perfidious Pips
  • #32
  • Feb 25, 2020 7:12am Feb 25, 2020 7:12am
would you please tell us is that on Daily chart or 5 mint
you photo refer to timerinsecone value 300 mean 5 mint or what it mean
Thank you
Attached Image
good luck
  • #33
  • Feb 25, 2020 7:39am Feb 25, 2020 7:39am
Quoting tito5615104
would you please tell us is that on Daily chart or 5 mint you photo refer to timerinsecone value 300 mean 5 mint or what it mean Thank you {image}
Hi tito,

I didn't write the software.
This EA is modified from a different project. Something to use to test the strategy.
I think the timer function is an interval between when the EA will check for trades.
Thanks,
NW

EDIT: I have the EA on Daily and 4H charts. It is a daily breakout strategy.
Perfidious Pips
  • #34
  • Feb 25, 2020 8:03am Feb 25, 2020 8:03am
Quoting northwind
{quote} Hi tito, I didn't write the software. This EA is modified from a different project. Something to use to test the strategy. I think the timer function is an interval between when the EA will check for trades. Thanks, NW EDIT: I have the EA on Daily and 4H charts. It is a daily breakout strategy.
Thank you northwind for your kind reply
good luck
  • #35
  • Feb 25, 2020 10:06am Feb 25, 2020 10:06am
Attached Image (click to enlarge)
Click to Enlarge Name: Immagine.png Size: 48 KB
  • #36
  • Feb 25, 2020 3:31pm Feb 25, 2020 3:31pm
Damn I missed the GU move last night as I took my placed orders off the table thinking there is no way it's going to move that much lol..
  • #37
  • Feb 25, 2020 3:59pm Feb 25, 2020 3:59pm
Have actually tested this EA for 2 weeks now. It's working pretty good.

Made 311$ profit so far with 0.1 lots.
No open trades whatsoever. - Default Settings.
  • #38
  • Feb 26, 2020 3:43am Feb 26, 2020 3:43am
Quoting mankindeg
Have actually tested this EA for 2 weeks now. It's working pretty good. Made 311$ profit so far with 0.1 lots. No open trades whatsoever. - Default Settings.
I think we can't decide is a EA is good or not only for 2 week of testing. I have tested it for 5 years (2015-2020), it's not always profitable

Look above my backtest
  • #39
  • Edited 4:39am Feb 26, 2020 4:16am | Edited 4:39am
I think there is a bug in the EA in the way SL is calculated.
Just reported it to Sangui. Let's see what he says.
Open a blank chart and apply the EA. The SL looks like it is too large and on the wrong side.

For the time being, please adjust manually.
Attached Images
Perfidious Pips
  • #40
  • Feb 26, 2020 6:09am Feb 26, 2020 6:09am
Quoting northwind
I think there is a bug in the EA in the way SL is calculated. Just reported it to Sangui. Let's see what he says. Open a blank chart and apply the EA. The SL looks like it is too large and on the wrong side. For the time being, please adjust manually. {image} {image}
IMHO, that could due to the SL didn't take in consideration of BuyPrice/SellPrice in calculation. Thus, if the "Range" is too tight, not able to place above/below BuyPrice/SellPrice, the SL could still fall within the "Range" and in the wrong side.

The TP did take in consideration of BuyPrice/SellPrice in calculation though.

Just my naive observations.
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