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Simple Monday-Tuesday System (attached calculator)

  • #1,401
  • Mar 18, 2020 7:08am Mar 18, 2020 7:08am
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...
I already posted my MT4 & 5 Robot and Indicator here. Comes with trailing stop options, move to break even, various other parameters you can test, including the original stop loss and entry methods from this strategy.
  • #1,402
  • Mar 18, 2020 7:09am Mar 18, 2020 7:09am
Data looks nice, your just going to need a whole lot more. I would highly suggest adding in winning %, max R:R reached and such info in order to make it more 'workable'

Also on a sidenote I don't really understand why people want to trade so many pairs, why not either pick the ones with lowest spread or the ones that perform the best. This seems to go far beyond the realm of diversification and far into the realm over overcomplication and overpaying for spread.
  • #1,403
  • Mar 18, 2020 7:43am Mar 18, 2020 7:43am
Quoting nevie2
Data looks nice, your just going to need a whole lot more. I would highly suggest adding in winning %, max R:R reached and such info in order to make it more 'workable' Also on a sidenote I don't really understand why people want to trade so many pairs, why not either pick the ones with lowest spread or the ones that perform the best. This seems to go far beyond the realm of diversification and far into the realm over overcomplication and overpaying for spread.
I might need some help to add those. One of my skills was that of a programmer (during the 70's) programming to a specification. There's not much I can't do once I have the idea or formula. I did all pairs as I was going to try and see which were the best and also what effect having multiple orders open.
I

Right, I have listed what we have to start with what we have and deleting/adding. Perhaps others may care to comment as well.

Hi
Lo
HiBrk
LoBrk
SL
Pip Range
TP Long
TP Short
LongProfit
ShortProfit

to be added
winning %
max R:R
????

It will take a little time to add the code and test and I have some issues with the data output and SL calcs which won't take long to fix.
I hope we can make some real use of this.
  • #1,404
  • Mar 18, 2020 7:53am Mar 18, 2020 7:53am
Quoting Spikehunter
{quote} I might need some help to add those. One of my skills was that of a programmer (during the 70's) programming to a specification. There's not much I can't do once I have the idea or formula. I did all pairs as I was going to try and see which were the best and also what effect having multiple orders open. I Right, I have listed what we have to start with what we have and deleting/adding. Perhaps others may care to comment as well. Hi Lo HiBrk LoBrk SL Pip Range TP Long TP Short LongProfit ShortProfit to be added winning % max R:R ???? It...

It may be helpful to know on what day a trade is opened that reaches TP or SL.
We could see if the operations open on Wednesday are better than those on Thursday
  • #1,405
  • Mar 18, 2020 7:58am Mar 18, 2020 7:58am
Hi guys, there are many pairs that broke either the low or the high of monday-tuesday. What i can see here is that many of them are either touching the highs or lows of 2018. Will they break out of the 2018 support or resistance, lets see.
  • #1,406
  • Mar 18, 2020 8:02am Mar 18, 2020 8:02am
Quoting FrancescoDTM
{quote} It may be helpful to know on what day a trade is opened that reaches TP or SL. We could see if the operations open on Wednesday are better than those on Thursday
Noted thank you. Just added it in. Interesting the test sample over the last 4 weeks shows very few Wednesdays. I haven't thoroughly checked it yet.
Just working on Profit percentage. Not sure if my calculations will be correct especially the Lo Break. What price do you recommend to divide by and is Friday Close ok.
eg (FriClose-HiBrk)/FriClose% && (LoBrk-FriClose)/FriClose%
  • #1,407
  • Edited 8:38am Mar 18, 2020 8:27am | Edited 8:38am
Ok, here is the code to produce the analysis .csv file which will be put in the Files folder under MQL. It has to go there no choice.
I haven't done anything to make it user friendly for configuration but a bit of thought you can see how it works.
The important bit is:
init section change Analyse to 1 if you want details for that pair

The number of Days analysed is set in the input section.

I have built this as an EA and not a script as I was getting some strange results as a script and thought it easier to test/fix.
Add it as an EA to a blank chart. It only runs when it is added or something changes like changing the timeframe.
It doesn't do anything else.
A sample for GBPJPY attatched

I'm am still checking results but if anyone does look at it and there are errors or additions let me know.

Attached File(s)
File Type: csv MonTues_System.csv   6 KB | 224 downloads
GBPJPY only 129 days
Attached File(s)
File Type: mq4 MT system statistics.mq4   7 KB | 223 downloads

Attached File(s)
File Type: csv MonTues_System pt2.csv   71 KB | 259 downloads
multiple pairs 129 days
  • #1,408
  • Mar 18, 2020 8:42am Mar 18, 2020 8:42am
Again, good stuff!

Most of the variables are easy to understand indeed, and as long as you have succes per trade (so R:R reached), you can always test it for different variables and that's all that really matters.

% profit should just be the R:R reached imo. I usually just take the breakout range in pips, and the maximum move in pips, add in the spread (which i input as a variable) and divide those

so breakout range is 50 pips, maximum move is 200 pips, R:R is 1:4.

Seeing as you have 2 options for close here, friday close or a set R:R with a friday close if that isn't reached, recording the seperate maximum move that is reached during the week should be enough I think, unless i'm missing something.
  • #1,409
  • Mar 18, 2020 8:57am Mar 18, 2020 8:57am
Also vis a vis more variables, it would be interesting to know wether the trade was in accordance with the monthly/yearly direction. Monthly is most likely a lot more interesting than yearly. Can be calculated by measuring the distance between the trade open and the monthly open. Positive number in pips would be in accordance with monthly direction (and by measuring in pips you would see how strong the move is) and negative number would indicate against the monthly direction.

A lot of systems perform better when traded with monthly or weekly direction (yearly for longer term trades), some perform a lot better in strong moves (so far from open) and some perform better from consolidation type situations (so close to open)
  • #1,410
  • Mar 18, 2020 9:38am Mar 18, 2020 9:38am
Quoting Spikehunter
Ok, here is the code to produce the analysis .csv file which will be put in the Files folder under MQL. It has to go there no choice. I haven't done anything to make it user friendly for configuration but a bit of thought you can see how it works. The important bit is: init section change Analyse to 1 if you want details for that pair The number of Days analysed is set in the input section. I have built this as an EA and not a script as I was getting some strange results as a script and thought it easier to test/fix. Add it as an EA to a blank chart....
Very nice. I'm trying it but I don't understand the LoBrk voice. How do I know what day he broke the level?
Does it only work with GBPJPY?
It would be interesting to know how much is the percentage of the weekly trend at the time of the opening of the operation. In this way we could check and understand if the trend is running out or not over a certain strength
  • #1,411
  • Mar 18, 2020 10:03am Mar 18, 2020 10:03am
Quoting FrancescoDTM
{quote} Very nice. I'm trying it but I don't understand the LoBrk voice. How do I know what day he broke the level? Does it only work with GBPJPY? It would be interesting to know how much is the percentage of the weekly trend at the time of the opening of the operation. In this way we could check and understand if the trend is running out or not over a certain strength
LoBrk is the Low Break Value i.e Low of Mon/Tues less 15% as per the rules. HiBrk the opposite.
Please see edited repost there is a multiple one there. pt2
  • #1,412
  • Mar 18, 2020 10:07am Mar 18, 2020 10:07am
Quoting Spikehunter
{quote} LoBrk is the Low Break Value i.e Low of Mon/Tues less 15% as per the rules. HiBrk the opposite. Please see edited repost there is a multiple one there. pt2
Sorry I said badly.
In the csv in the LoBrk column I read whole numbers (4/5).
What does it mean?
I highlighted in green.
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  • #1,413
  • Mar 18, 2020 10:10am Mar 18, 2020 10:10am
Quoting nevie2
Again, good stuff! Most of the variables are easy to understand indeed, and as long as you have succes per trade (so R:R reached), you can always test it for different variables and that's all that really matters. % profit should just be the R:R reached imo. I usually just take the breakout range in pips, and the maximum move in pips, add in the spread (which i input as a variable) and divide those so breakout range is 50 pips, maximum move is 200 pips, R:R is 1:4. Seeing as you have 2 options for close here, friday close or a set R:R with a friday...
My understanding of R:R would be measuring the Risk i.e. StopLoss vs the Return(Profit). I've never really got my head around this because Risk vs Return would/could be different for every trade. Volatility will also have a significant impact. Looking at the numbers this could be a very profitable system and with some tuning even more so.
I'm also in agreement about trend direction.

I'll add in trend direction based on a simple MA to start with.
  • #1,414
  • Mar 18, 2020 10:26am Mar 18, 2020 10:26am
Quoting Spikehunter
{quote} My understanding of R:R would be measuring the Risk i.e. StopLoss vs the Return(Profit). I've never really got my head around this because Risk vs Return would/could be different for every trade. Volatility will also have a significant impact. Looking at the numbers this could be a very profitable system and with some tuning even more so. I'm also in agreement about trend direction. I'll add in trend direction based on a simple MA to start with.
Yes optimal R:R calculations are endless and partly pointless, optimization will just lead to futile results, as is the case with nearly all optimization on past results.

It's mainly just to get an indication; is it better to trade for long term gains, or are the breakouts usually short and then reverse. I mean who is to say an R:R of 1:.5 might not yield infinitely better results (just as an example). For example the main strategy I trade I use 1:10 TP's only, while it is theoretically also possible to be profitable on 1:1 and 1:2 etc the higher tp's are statistically a lot better, but eventually the number 10 is just practical, 11.2 would be optimal, but again over-optimization is just always lurking around the corner.

Perhaps I completely miss you point here though, because I don't fully understand what part of this way of viewing R:R you say you can't wrap your head around.

also MA can be good, does roughly the same thing. Monthly open is my personal preference as it's more objective than an MA number
  • #1,415
  • Mar 18, 2020 10:28am Mar 18, 2020 10:28am
Today positions
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  • #1,416
  • Mar 18, 2020 10:34am Mar 18, 2020 10:34am
Quoting nevie2
{quote} Yes optimal R:R calculations are endless and partly pointless, optimization will just lead to futile results, as is the case with nearly all optimization on past results. It's mainly just to get an indication; is it better to trade for long term gains, or are the breakouts usually short and then reverse. I mean who is to say an R:R of 1:.5 might not yield infinitely better results (just as an example). For example the main strategy I trade I use 1:10 TP's only, while it is theoretically also possible to be profitable on 1:1 and 1:2 etc the...
I actually think we are on the same page. I have put in the MA direction based on a two 21MAs over a 5 day period. Sufficient to get a general direction.
MA1=iMA(name,1440,55,0,MODE_SMA,PRICE_CLOSE,cnt);
MA2=iMA(name,1440,55,0,MODE_SMA,PRICE_CLOSE,cnt+5);
if(MA1>MA2) {Trend="Long";}
if(MA1<MA2) {Trend="Short";
  • #1,417
  • Mar 18, 2020 10:35am Mar 18, 2020 10:35am
It sounds good today
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  • #1,418
  • Mar 18, 2020 10:36am Mar 18, 2020 10:36am
Quoting FrancescoDTM
{quote} Sorry I said badly. In the csv in the LoBrk column I read whole numbers (4/5). What does it mean? I highlighted in green. {image}
Sorry misread your first note. That's the day that the price broke through. Your request, and a good one.
  • #1,419
  • Mar 18, 2020 10:43am Mar 18, 2020 10:43am
Quoting edybede
Today positions {image}
Here's mine so far...
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&quot;Pips are vanity. Profit is sanity.&quot;
  • #1,420
  • Mar 18, 2020 10:46am Mar 18, 2020 10:46am
Yes Paul.... GBPCAD was a loss...no SL for this one ?
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