Simple Monday-Tuesday System (attached calculator) | Page 53 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simple Monthly System (see attached calculator) 48 replies

Excel simple risk calculator needed 10 replies

what if every free system is attached to a trading explorer? 28 replies

If it's such a great system, why isn't there a Trade Explorer attached? 261 replies

Simple Fx Calculator 1 reply

Attachments: Simple Monday-Tuesday System (attached calculator)
Exit Attachments

Simple Monday-Tuesday System (attached calculator)

  • #1,041
  • Mar 10, 2020 6:11am Mar 10, 2020 6:11am
Not to many people around as yet.
Would you agree that any consideration for new weeks weekly trading range should be taken from the close of Friday.
e.g. Friday closing +- Weekly ATR
  • #1,042
  • Edited 8:19am Mar 10, 2020 8:07am | Edited 8:19am
New version available

Attached File(s)
File Type: ex4 EA Daily Mon Tues v1.0.ex4   26 KB | 294 downloads


I have tested many times and it looks ok.
The button CloseALL does exactly that. ALL trades will be closed.

Trades will open it may take a few seconds minutes depending on how many charts etc. If you put the EA up overnight it should all be working tomorrow.

There is a mechanism which stops multiple trades occurring during the week if you were to test and/or close early. In the GlobalVariables each pair has a number and a value. OpenLongTime is the Weekly time similar for short. There is some duplication here with LongOpened etc but that doesn't affect the way teh EA works. I will look to remove this next versions.
I was going to add an option to specify What Day/ What Hour to close but setting that up requires the user to enter a GlobalVariable. It can be done if anyone wants it and knows how to access through Tools menu. For now its the button.

I won't have time to develop and test position sizing and basket closing but will do that next. The spec will be a configurable % of Account Balance etc. I'm also looking at SET files, never used them but I think Globals are easier to use. They re right there every time on the menu under Tools. Yes I know I have repeated that.


As always please test on a demo chart(s) always better to use 3 or 4 to check for any errors before tomorrow. Don't forget to set and reset startdate to reflect its not yet Wednesday. e.g set to 2 and then back to 3 when finished.

May have been a bit pedantic but just making sure I pass all the info over.

Good Luck
  • #1,043
  • Mar 10, 2020 8:49am Mar 10, 2020 8:49am
Quoting Spikehunter
New version available {file} I have tested many times and it looks ok. The button CloseALL does exactly that. ALL trades will be closed. Trades will open it may take a few seconds minutes depending on how many charts etc. If you put the EA up overnight it should all be working tomorrow. There is a mechanism which stops multiple trades occurring during the week if you were to test and/or close early. In the GlobalVariables each pair has a number and a value. OpenLongTime is the Weekly time similar for short. There is some duplication here with LongOpened...
When I remove the EA from the chart, it leaves the button and a few lines behind. Could you amend it so that it removes all objects it has drawn please?
"Pips are vanity. Profit is sanity."
  • #1,044
  • Mar 10, 2020 9:22am Mar 10, 2020 9:22am
Howdy,

Erebus guided me to this thread, and his passion for this trading method was over 9000 - I checked it out and decided to make some tools for him ready for when he gets his computer going.

For me - it is 2 birds with one stone, as I have an extensive trade library that I needed to do some work on, so I used this trading strategy as a "guinea pig" for developing the library - since it is nice and mechanical.

There seems to be some EA's n things being passed around in this thread, so I am a bit late to the party, but to my understanding most of the tools are for MT4.

My contribution today is for MT5. I can compile these to MT4 as well, but I don't want to step on anyone's toes here since I can see SpikeHunter already put something together.

Erebus refers to this method as the WTF method (Wed, Tues, Something something) ... so I just stuck with that.

The indicator: WTF Helper.ex5

Will mark the mon-tues high low levels from Wednesday. Works on all time frames.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 62 KB


There is a simple candle marker that you can turn on/off. It will mark candles that close on one side of the channel and close on the other... indicating a possible Mon-Tues breakout.

Just a nice quick visual aid.

The Expert: WTFTrader.ex5

As I mentioned earlier, I was using this system to work on a trade library that has a lot of tools in it. So I've included quite a bit for you to play around with.

Entry Stuff:

  1. The robot will not set pending orders, it will wait until price touches the breakout trigger level (from Wednesdays onward) then open an order on touch.
  2. It will only have one trade open at a time per pair.
  3. If a trade fails, it will still allow one more trade to be triggered in the opposite direction. So basically you get one trade trigger per direction.
  4. At the end of the week it resets internal counters.

But be careful here, I haven't fully optimized this to remember its state if you unload the ea and then reload it. It will see open trades that it placed before, and work off that basis, but otherwise unloading and re-loading the EA will mean a "reset" of the internal trade counters in most cases.

I didn't really polish this aspect because I was mainly flogging this in the back-tester, checking the things I was implementing, were working as intended.

There was also some discussion here about having a buffer outside the channel boundary.

Add_Entry_Threashold Is the entry buffer setting. 0.1 = 10%, which will add 10% of the Mon-Tue range to the entry condition.

During back testing I noticed that timing was swinging results wildly. So Trade_Hour_Start and Trade_Hour_End are the hours which the EA will be allowed to place trades. It's set to 8-15 by default which were showing the best results on my broker.

These times work off your broker hour, so when your broker hour hits London Open is a ballpark time when you want to allow trading. Play around with this in the back tester. Just put 0 - 23 to essentially allow trading in all hours.


Stop Loss Calculations:

Here you will start to see all the options my trade library is offering.

There are two stop loss selections. One selection are standard / generic kind of stop loss methods, and the other one is stop loss methods that are unique to this strategy only.

To use the stop loss method unique to this strategy,

  1. Set Stop_Strategy to: STOP_LOSS_USE_STRATEGY_METHOD
  2. Select a stop loss method from System_Stop_Loss_Method (I only have one in there at the moment)

The option WTF_STOPLOSS_MON_TUE_CHAN_PCT will set the trade stop loss at a percentage point of the monday - tues channel. By the amount set in Stop_Strategy_Value

Careful: It is expecting decimals here... 0.5 = 50% of the candle.

Otherwise you can use my built in stop loss methods. Eg.

  1. Stop loss by prev candle high/low
  2. Stop loss by volatility (atr) - use multiplier to multiples of the atr, eg set stop loss multiplier value to 2 for 2xATR
  3. Stop loss by prev swing high/low - Stop_Strategy_Value = fractal value here, stop loss multiplier adds buffer spacing (remember pct in decimal format)


Trailing Stop Methods

  1. Lots to play with here
  2. Remember multiplier values are in decimal format
  3. Some methods don't use multiplier values, like trail by EMA
  4. Min risk reward achieved by trade before trailing kicks in (strongly recommended for some trail methods)
  5. Break even conditions


You've also got other options with are pretty straight forward

  1. Risk settings (by account %, or by $ value)
  2. Set targets by risk reward multiples
  3. Plus some more..


Hopefully that get's you started.

Please don't use this on a live account until you've played around with it on demo and you understand how the input options are working.

Have fun, get well soon Erebus.

Attached File(s)
File Type: ex5 WTF Helper.ex5   121 KB | 243 downloads
File Type: ex5 WTFTrader.ex5   517 KB | 252 downloads
  • #1,045
  • Mar 10, 2020 10:43am Mar 10, 2020 10:43am
Quoting dazamate
There seems to be some EA's n things being passed around in this thread, so I am a bit late to the party, but to my understanding most of the tools are for MT4. My contribution today is for MT5.
Please do not let the thought of supposedly stepping on other people's toes in here keep you from sharing in MT4. You are not stepping on anyone's toes by doing that. Variety is a good thing! It's good to have choices. So my request to you is to compile what you have contributed to MT4, and share it on this thread.

Thank you for your contribution here!
Learn from your mistakes and march on.
  • #1,046
  • Mar 10, 2020 10:52am Mar 10, 2020 10:52am
Quoting PaulDV
{quote} When I remove the EA from the chart, it leaves the button and a few lines behind. Could you amend it so that it removes all objects it has drawn please?
Thanks for the reply and all replies are welcomed equally.
This is a tricky one as some people want their lines to remain intact. The button should stay where it is.
Making something completely configurable makes testing so much harder.

I don't want to make any changes before tomorrow so we can run a live test but will certainly add it to my list.
I have an idea to close the EA with a button and if you use that then it clears everything including the EA. Need to do a bit of research but I think its do-able

How about a script just to clear the screen
Attached File(s)
File Type: ex4 Clear ALL Objects.ex4   5 KB | 180 downloads

Attached File(s)
File Type: mq4 Clear ALL Objects.mq4   2 KB | 203 downloads
  • #1,047
  • Mar 10, 2020 10:55am Mar 10, 2020 10:55am
Quoting dazamate
Howdy, Erebus guided me to this thread, and his passion for this trading method was over 9000 - I checked it out and decided to make some tools for him ready for when he gets his computer going. For me - it is 2 birds with one stone, as I have an extensive trade library that I needed to do some work on, so I used this trading strategy as a "guinea pig" for developing the library - since it is nice and mechanical. There seems to be some EA's n things being passed around in this thread, so I am a bit late to the party, but to my understanding most...
Hi, No problem to me. I looked at learning MT5 but seems that its not as poplar as MT4, what is your experience and is it really worth it.
Is there any performance improvements to be gained.
Good Luck
  • #1,048
  • Mar 10, 2020 11:08am Mar 10, 2020 11:08am
Quoting dazamate
Howdy, Erebus guided me to this thread, and his passion for this trading method was over 9000 - I checked it out and decided to make some tools for him ready for when he gets his computer going. For me - it is 2 birds with one stone, as I have an extensive trade library that I needed to do some work on, so I used this trading strategy as a "guinea pig" for developing the library - since it is nice and mechanical. There seems to be some EA's n things being passed around in this thread, so I am a bit late to the party, but to my understanding most...
Fantastic! i have waited long for a MT5 programmer. GJ! Looking ward to try it soon...
  • #1,049
  • Mar 10, 2020 11:26am Mar 10, 2020 11:26am
Hello Spikehunter,
İf it is going to be trade from these gray lines in the chart, it also calculates wrong for me .

i want to try stock cfds or all instruments in my broker, And I think you should definitely add Trailing stop .

Thanks a lot for your valuable work.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 42 KB
Click to Enlarge Name: Screenshot_2.png Size: 48 KB
  • #1,050
  • Mar 10, 2020 11:59am Mar 10, 2020 11:59am
Quoting Gokay
Hello Spikehunter, İf it is going to be trade from these gray lines in the chart, it also calculates wrong for me . i want to try stock cfds or all instruments in my broker, And I think you should definitely add Trailing stop . Thanks a lot for your valuable work. {image} {image}
Right click anywhere on a open chart and select properties. Click on Common and then select Show object descriptions.
You will be pleasantly surprised.
  • #1,051
  • Mar 10, 2020 12:08pm Mar 10, 2020 12:08pm
Quoting Gokay
Hello Spikehunter, İf it is going to be trade from these gray lines in the chart, it also calculates wrong for me . i want to try stock cfds or all instruments in my broker, And I think you should definitely add Trailing stop . Thanks a lot for your valuable work. {image} {image}
Can you give me the parameters required for a trailing SL.
  • #1,052
  • Mar 10, 2020 12:18pm Mar 10, 2020 12:18pm
Quoting dazamate
Howdy, Erebus guided me to this thread, and his passion for this trading method was over 9000 - I checked it out and decided to make some tools for him ready for when he gets his computer going. For me - it is 2 birds with one stone, as I have an extensive trade library that I needed to do some work on, so I used this trading strategy as a "guinea pig" for developing the library - since it is nice and mechanical. There seems to be some EA's n things being passed around in this thread, so I am a bit late to the party, but to my understanding most...
Well what's going on here then, Have we been took over?
MT5 indicators, Two birds for one stone,
Wed, Tues Something Something, Guinea pigs and late for parties,
confusion confusion.
Would it not have been better to start a sister site.
PS it's actually called (Simple Monday-Tuesday System (attached calculator) ,
  • #1,053
  • Mar 10, 2020 12:22pm Mar 10, 2020 12:22pm
wow I'm learning something new every day
may be the trailing stop start 5 percent and Trailing step 5 pips.
Thank YOU .
  • #1,054
  • Mar 10, 2020 12:25pm Mar 10, 2020 12:25pm
Quoting dazamate
Howdy, Erebus guided me to this thread, and his passion for this trading method was over 9000 - I checked it out and decided to make some tools for him ready for when he gets his computer going. Have fun, get well soon Erebus.
Wow, busy man, thanks for huge contribution, might be coming into some $$$ soon = computer, will be checking this out ASAP.

WTF = Wednesday Thursday Friday

What’s not to like about this method? You know when to look for a trade, you know where to look for the entry, it’s purely price, you don’t pick pairs, the pairs pick you! You don’t trade on Monday or Tuesday, which many people have a problem with seems like, ever hear the term “edging”?

Thanks for well wishes, much appreciated

Only few hours to go now faithful followers

But still markets are finding their way, a degree of caution is advised

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-11 at 3.18.26 am.png Size: 61 KB


PS: does anyone read the TOTB thread, Trading Outside The Box? I would like to see a method called Trading Inside The Square, TITS
It takes a lot for me to IGNORE you, but you can try.
  • #1,055
  • Mar 10, 2020 12:43pm Mar 10, 2020 12:43pm
Quoting redfan
{quote} Well what's going on here then, Have we been took over? MT5 indicators, Two birds for one stone, Wed, Tues Something Something, Guinea pigs and late for parties, confusion confusion. Would it not have been better to start a sister site. PS it's actually called (Simple Monday-Tuesday System (attached calculator) ,
I'm with you however it seems this thread has been plagued with takeovers multiple solutions of scripts indicators and EA's. Perhaps its due to our success. We have a simple system which if developed into an EA could be profitable for everyone. The problem is there is to much time on peoples hands with nothing to do on Mon/Tues.
There seems to me different ideas on when to enter stop losses etc etc. There isn't any focus on getting the basics sorted.
The MT5 looks like a wish list in parts but I am not going to criticise. I may someday turn to it but not for now.

I'm ready and setup for tomorrow on my test pc so we shall see what happens.
  • #1,056
  • Mar 10, 2020 12:53pm Mar 10, 2020 12:53pm
Quoting dazamate
Howdy, Erebus guided me to this thread, and his passion for this trading method was over 9000 - I checked it out and decided to make some tools for him ready for when he gets his computer going. For me - it is 2 birds with one stone, as I have an extensive trade library that I needed to do some work on, so I used this trading strategy as a "guinea pig" for developing the library - since it is nice and mechanical. There seems to be some EA's n things being passed around in this thread, so I am a bit late to the party, but to my understanding most...

Hey you wanna compile them for the mt4 that would be realy helpful i think and would be as well realy nice :=)
  • #1,057
  • Mar 10, 2020 1:00pm Mar 10, 2020 1:00pm
Quoting Spikehunter
Yes I know I have repeated that. As always please test on a demo chart(s) always better to use 3 or 4 to check for any errors before tomorrow. Don't forget to set and reset startdate to reflect its not yet Wednesday. e.g set to 2 and then back to 3 when finished.
Spikehunter, could you please provide a better explanation of the "DayStart" variable. Thanks.
  • #1,058
  • Edited 4:42pm Mar 10, 2020 3:07pm | Edited 4:42pm
Results of last two weeks trading this system:

Week I ................GBPUSD GBPAUD GBPCAD GBPJPY GBPNZD EURUSD
W1 Feb 25-28 .......+65 ....-243 ......-173 .....+100 .....-294 ......nil
total -545 ...3 loss 2 win

W2 - March 3-6 ......-138 ....-525 ......+101 .....+113 ....+183 ....+88
total -178 .... 2 loss 4 win


Over total -723 pips ..... 5 loss 6 win
  • #1,059
  • Mar 10, 2020 3:28pm Mar 10, 2020 3:28pm
Quoting pbw
Results of last two weeks trading this system: Week I ................GBPUSD GBPAUD GBPCAD GBPJPY GBPNZD EURUSD W1 Feb 18-21 .......+65 ....-243 ......-173 .....+100 .....-294 ......nil total -545 ...3 loss 2 win W2 - Feb 25 -28 ......-138 ....-525 ......+101 .....+113 ....+183 ....+88 total -178 .... 2 loss 4 win Over total -723 pips ..... 5 loss 6 win


How was you trading with such a big loss? What are your rules for this system ? Entry? Stop loss? Can you give us the details please
  • #1,060
  • Mar 10, 2020 3:55pm Mar 10, 2020 3:55pm
Quoting pbw
Results of last two weeks trading this system: Week I ................GBPUSD GBPAUD GBPCAD GBPJPY GBPNZD EURUSD W1 Feb 18-21 .......+65 ....-243 ......-173 .....+100 .....-294 ......nil total -545 ...3 loss 2 win W2 - Feb 25 -28 ......-138 ....-525 ......+101 .....+113 ....+183 ....+88 total -178 .... 2 loss 4 win Over total -723 pips ..... 5 loss 6 win

What are the entry and stop loss criteria used? The original 25% I’m guessing

On a risk reward calculation, how does it look?

Thanks,
It takes a lot for me to IGNORE you, but you can try.
2 traders viewing now