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Breakout Trading - Simple Weekly System

  • #61
  • Mar 11, 2020 12:57pm Mar 11, 2020 12:57pm
Quoting zoraxfx
Excuse me... I was talking about RT Hours Range
Yes,
in my post I wrote:
"If one use the "Happy Hours", you can see that statistically, regardless of GMT, the bar ranges (volatility) for this pair increase between 06:00 - 10:00, continue to increase until 17:00, and then decrease."

For me this means that you can take the range of 2-3 hours (4 to 6, or 5 to 7 etc.) and you trade the breakout of the range until about 5 p.m. because then there is a higher volatility.

The hour ranges are determined statistically and there are no problems with the GMT offset which my broker has just increased from 2 to 3 this week.

In #Post 54 you can also see that for a trading system e.g. on M5, it would be interesting to trade the increasing volatility from 7 to 10 and from 14 to 17.
Such precise information would be very important, and as far as I know, nobody has taken this indicator seriously ...
  • #62
  • Mar 11, 2020 12:59pm Mar 11, 2020 12:59pm
Quoting zoraxfx
Excuse me... I was talking about RT Hours Range
Yes,
in my post https://www.forexfactory.com/showthr...9#post12804579 I wrote:
"If one use the "Happy Hours", you can see that statistically, regardless of GMT, the bar ranges (volatility) for this pair increase between 06:00 - 10:00, continue to increase until 17:00, and then decrease."

For me this means that you can take the range of 2-3 hours (4 to 6, or 5 to 7 etc.) and you trade the breakout of the range until about 5 p.m. because then there is a higher volatility.

The hour ranges are determined statistically and there are no problems with the GMT offset which my broker has just increased from 2 to 3 this week.

In #Post 54 you can also see that for a trading system e.g. on M5, it would be interesting to trade the increasing volatility from 7 to 10 and from 14 to 17.
Such precise information would be very important, and as far as I know, nobody has taken this indicator seriously ...
  • #63
  • Mar 11, 2020 1:37pm Mar 11, 2020 1:37pm
Quoting SwingMan
{quote} Can you please leave out parasitic comments in this thread? I will always be happy if one makes helpful comments here. The clever remark that the indicator draws lines does not help anyone because everyone knows that. It helps some people who are not as talented as you and analyze everything virtually and not visually. I admit that this is a great advantage over all of us because drawing lines was fatal for Arhimedes ...
Thank you Swingman for your continued support and help for traders here on FF.
Just trying to put a kiss on the cheek of success
  • #64
  • Mar 11, 2020 2:03pm Mar 11, 2020 2:03pm
Quoting pet3250
{quote} Thank you Swingman for your continued support and help for traders here on FF.
That's a real contribution to the thread.
  • #65
  • Edited 4:36am Mar 14, 2020 3:20am | Edited 4:36am
Quoting SwingMan
Just a remark: In #Post 14 https://www.forexfactory.com/showthr...0#post12797960 I posted a "Happy Hours" chart. At that time, GMT-Offset = 2 on my computer. Now for GMT-Offset = 3 there are small differences: {image}
Hi Swingman,
1. Your indicator is done with good intentions of showing Happy hours. But really in today's trading environment it does not help because of the acceleration and deceleration of price levels happening so fast, particularly during strong trending markets like now.

2. If you have time, please code an indicator showing the movement of Ticks (may be in blocks of 36 ticks) its speed in terms of Pips, levels of prices crossed in terms of quantums, fractals, zlines or Semafor. To study past movements.

3. For creating database, I have an exe file of indicator supplied by a programme for personal use. I am sending you by PM . The friend has not given me source file.
You can figure it out and may be in a position to programme your own new quantitative indicator based on this idea

Attached Image (click to enlarge)
Click to Enlarge Name: SMC idea.jpg Size: 1.6 MB


4. Ticks in main chart are plotted not in candles but in range blocks and displayed in sub-window. The tick indicator is also supplied. .

5. For current live trading, you can modify the attached Blubb Zlines indicator to include Pips at Open-close or High Low of Zlines happening in the past (lookback period) and indicated by "minutes, hours, days, weeks and Month ago" as is being done by the indicator.

In your new indicator you can give an input of block size of Time in ticks

If you define inputs of Zlines with thresholds of

Time selector: from and to upto seconds. Yes or No
Pips : xxxxxxxxxxxx Pips or five digits : Yes or No
If I select Time filter then it prints horizontal lines with all information Like Day, Time etc with Pips counted on open/close basis of Time selected. Not time frame .
If I select Pips filter then it prints horizontal lines with all Time information.
Like in Highly volatile times now, the price level that used to take 4 hours in normal time is now reached in 10 minutes (accumulation speed) and also gets exhausted and reverses in less than 15 minutes.
We have to catch such strong trends by measuring the speed of shifting price levels based on time and pip size filters.

6. i have also included two indicators mighty zones and double alert. If you feel it OK, please update them to work on existing platform.

Thank you.
Attached File(s)
File Type: mq4 Blubbb_ZLines.mq4   6 KB | 382 downloads
File Type: mq4 Blubbb_Ticks.mq4   3 KB | 378 downloads
File Type: mq4 Blubbb_MightyZones.mq4   9 KB | 375 downloads
File Type: mq4 Blubbb_DoubleAlert.mq4   4 KB | 413 downloads
Practice makes a person perfect
  • #66
  • Mar 14, 2020 6:44am Mar 14, 2020 6:44am
Quoting simnz
{quote} Hi Swingman, 1. Your indicator is done with good intentions of showing Happy hours. But really in today's trading environment it does not help because of the acceleration and deceleration of price levels happening so fast, particularly during strong trending markets like now...
I'm sure you are right, but I can't start new projects and be on mind with new ideas.

Here in forum you have @Bionic as an exceptional tick data expert:
https://www.forexfactory.com/showthread.php?t=727775
  • #67
  • Mar 14, 2020 7:56am Mar 14, 2020 7:56am
Quoting SwingMan
New Indicator: smBreakout-2D1-Weekly v1.0 {image} {file}
Looked some historic trades,looks promising if order managment is done the right way.
By any chance u have the source code so i can make an EA?
Download Corti EA : https://cortiea.com
  • #68
  • Mar 14, 2020 8:37am Mar 14, 2020 8:37am
Quoting mastercool66
...Looked some historic trades,looks promising if order managment is done the right way. By any chance u have the source code so i can make an EA?
The indicator is not finished, but you dont need it.

You have some EAs in the M_T thread, here one with source code: https://www.forexfactory.com/showthr...9#post12799929
  • #69
  • Mar 14, 2020 10:21am Mar 14, 2020 10:21am
Quoting SwingMan
{quote} The indicator is not finished, but you dont need it. You have some EAs in the M_T thread, here one with source code: https://www.forexfactory.com/showthr...9#post12799929
I use a different logic for order managment which i protect my account. Will have to see what i can do with the .ex4 file.
Thank you anyway
Download Corti EA : https://cortiea.com
  • #70
  • Edited Mar 15, 2020 12:12am Mar 14, 2020 11:44pm | Edited Mar 15, 2020 12:12am
SM, Will you please make an addition to the Indicator? Will you please allow us to adjust the SL? As it is right now it's hard coded to 50%. This will not allow us to forward test any other settings. Please and TY.

Edit: Also, I'm not sure why, but when I have your indicator loaded my MT4 will not allow me to use the Period Separator's. The line don't appear. But when you remove the indicator the Period Separator lines appear. Can this be fixed to allow for those lines to appear while using the indicator?
  • #71
  • Mar 15, 2020 6:23am Mar 15, 2020 6:23am
Quoting bojack34
SM, Will you please make an addition to the Indicator? Will you please allow us to adjust the SL? As it is right now it's hard coded to 50%. This will not allow us to forward test any other settings. Please and TY. Edit: Also, I'm not sure why, but when I have your indicator loaded my MT4 will not allow me to use the Period Separator's. The line don't appear. But when you remove the indicator the Period Separator lines appear. Can this be fixed to allow for those lines to appear while using the indicator?
- The SL cannot be changed for this indicator. By default it lies in the middle of the box.
If it could be changed, one has to draw lines for long and short SL.

- New version "smBreakout-2D1-Weekly v2.2" with an option for period separators.
Attached File(s)
File Type: ex4 smBreakout-2D1-Weekly v2.2.ex4   27 KB | 610 downloads
  • #72
  • Mar 15, 2020 6:47am Mar 15, 2020 6:47am
Thank you SwingMan for this indicator. ;-)
  • #73
  • Mar 15, 2020 11:45am Mar 15, 2020 11:45am
Quoting SwingMan
{quote} - The SL cannot be changed for this indicator. By default it lies in the middle of the box. If it could be changed, one has to draw lines for long and short SL. - New version "smBreakout-2D1-Weekly v2.2" with an option for period separators. {file}
May I ask why it cannot be changed? Is it because that's what is on the thread? Because I'm pertty sure the OP started with a full range + 10% SL. The SL has evolved and should continue to be adjusted to find best results. If you just cannot do it, I understand. TY for all you do!
  • #74
  • Mar 15, 2020 11:55am Mar 15, 2020 11:55am
This system works better with an EMA 14 Weekly as a extra filter.
Download Corti EA : https://cortiea.com
  • #75
  • Mar 15, 2020 12:54pm Mar 15, 2020 12:54pm
Quoting bojack34
{quote} May I ask why it cannot be changed? Is it because that's what is on the thread? Because I'm pertty sure the OP started with a full range + 10% SL. The SL has evolved and should continue to be adjusted to find best results. If you just cannot do it, I understand. TY for all you do!
Of course one can change the indicator, I just wanted to program the last rules of the author.

One can see in your little statistics in #Post 1255 https://www.forexfactory.com/showthr...2#post12813292
that it can work very well!

@Sorobanista suggested very well in #Post 1274 https://www.forexfactory.com/showthr...5#post12813765
to take on entry e.g. 2 lots, one sold at 1: 1 and the second at 2: 1.
Calculate the result with your 1% risk per trade and you will see that it looks very good.

What you suggested is more towards an ACD-system variant, where one can change the trade direction after reaching the SL.
I'm actually programming something like that, maybe someone will be interested later.

A problem with breakout systems is filtering the entrys, also based on the trend. @Mastercool66 has just made a suggestion in #Post 74, but it is only of limited help.
  • #76
  • Mar 15, 2020 12:57pm Mar 15, 2020 12:57pm
Quoting SwingMan
{quote} Of course one can change the indicator, I just wanted to program the last rules of the author. One can see in your little statistics in #Post 1255 https://www.forexfactory.com/showthr...2#post12813292 that it can work very well! @Sorobanista suggested very well in #Post 1274 https://www.forexfactory.com/showthr...5#post12813765 to take on entry e.g. 2 lots, one sold at 1: 1 and the second at 2: 1. Calculate the result with your 1% risk per trade and you will see that it looks very good. What[/highlight]...
Ok maybe I was unclear. I apoligize. I was just asking for an adjustable SL. That's all. I'm not talking about changing the trade direction at all.......just being able to adjust the SL. That's all. Again, I do appreciate all you do. Thanks.
  • #77
  • Mar 15, 2020 1:13pm Mar 15, 2020 1:13pm
Quoting SwingMan
{quote} Of course one can change the indicator, I just wanted to program the last rules of the author. One can see in your little statistics in #Post 1255 https://www.forexfactory.com/showthr...2#post12813292 that it can work very well! @Sorobanista suggested very well in #Post 1274 https://www.forexfactory.com/showthr...5#post12813765 to take on entry e.g. 2 lots, one sold at 1: 1 and the second at 2: 1. Calculate the result with your 1% risk per trade and you will see that it looks very good. What...
When my order reaches TP1
- i close half lot order,
- move sl to breakeven
- leave the remaining lot for TP2.

My whole problem has always been order managment, i dont leave the order anymore with classic TP/SL , i get what i can from the market.
Download Corti EA : https://cortiea.com
  • #78
  • Mar 15, 2020 2:07pm Mar 15, 2020 2:07pm
Quoting mastercool66
{quote} When my order reaches TP1 - i close half lot order, - move sl to breakeven - leave the remaining lot for TP2. My whole problem has always been order managment, i dont leave the order anymore with classic TP/SL , i get what i can from the market.
Sure, and if you use bojack's statistik:

-8x0.5=-4

+18x0.5=+9
+6x1=+6

Total +11%
  • #79
  • Mar 15, 2020 2:39pm Mar 15, 2020 2:39pm
Quoting SwingMan
{quote} Sure, and if you use bojack's statistik: -8x0.5=-4 +18x0.5=+9 +6x1=+6 Total +11%
I never understood why closing half profits was used unless the 2nd TP target is atleast 2x the distance of your TP1. If you have a 20 pip tp1 target and you close out half and the tp2 target was another 20 pips away. Once you close the 2nd portion of the trade at tp2 it's the same amount of profit as if you would have just closed the entire trade at tp1. Only if tp2 is far enough away to make it worth closing half profits at tp1. At that point your hoping that price continues far enough to make it worth your while. In my opinion you put all your efforts into selecting a good entry and exit, you might as well close entire trade. I don't mind possibly adding an additional trade of a smaller lot size after you have closed your initial trade at tp1. Doing it this way will not increase your risk on your first trade, will allow you to close full amount, and also allow you to continue to trade in the disired direction.
  • #80
  • Mar 15, 2020 3:53pm Mar 15, 2020 3:53pm
Quoting bojack34
...I never understood why closing half profits was used unless the 2nd TP target is atleast 2x the distance of your TP1. If you have a 20 pip tp1 target and you close out half and the tp2 target was another 20 pips away. Once you close the 2nd portion of the trade at tp2 it's the same amount of profit as if you would have just closed the entire trade at tp1. Only if tp2 is far enough away to make it worth closing half profits at tp1. At that point your hoping that price continues far enough to make it worth your while. In my opinion you put all...
You are right, no question.
Mathematics is fine, but many psychologically need some money in their pockets before reaching a higher level.

You can also start with 4 lots, then 2 on TP1 and 1 on TP2. Exit?
Bill Williams has suggested something similar.
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