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Simple Monday-Tuesday System (attached calculator)

  • #1,481
  • Edited 2:47am Mar 19, 2020 2:15am | Edited 2:47am
@ PaulDV

sorry for our misunderstanding about my comments # post 1419

on your board for GBPCAD you displayed a loss of 155 pips
so I thought you didn't put a SL since you should have been stopped at 65 pips with a SL ratio 50 %

EDIT your EA is working like a charm ...no bug so far

I hope I have been clear this time
  • #1,482
  • Mar 19, 2020 2:49am Mar 19, 2020 2:49am
Quoting 0xff
On demo acc in Trade Explorer, I made 1 manual trade with 1 lot I made a mistake when choosing an account. When I saw what I did, immediately close order. As result is -19$ by few seconds. Any way, the test continues, and I won’t pay much attention to this mistake. {quote} I'm not use TP, I close all position few hours before market close on friday. I only trade pairs with low spread. I wrote about it here. {quote} I use script where the default setting is 25%....
I use the smBreakout-2D1-Weekly v1.0.ex4 indicator and script. It works well. I manually enter one more position. Can someone create a script for entering two positions?
1st position 0,03 lot:
Input = 25%
PT = PT1 indicator
SL = 50% (range axis)
2.position 0.01 lot:
Input = PT1 indicator
PT = PT2 indicator
SL = 25% (first position input)
It works like closing 2/3 of the position on PT1 and sliding SL beyond BE. The rest of the position continues on PT2.
Please excuse the bad English via Google Translate.
  • #1,483
  • Mar 19, 2020 3:02am Mar 19, 2020 3:02am
Quoting Forestralia
{quote} Not true! There are strategies for any market.

flat is basically ranging, therefore use a ranging strategy. so this comment aint true
  • #1,484
  • Mar 19, 2020 3:41am Mar 19, 2020 3:41am
Quoting 0xff
On demo acc in Trade Explorer, I made 1 manual trade with 1 lot I made a mistake when choosing an account. When I saw what I did, immediately close order. As result is -19$ by few seconds. Any way, the test continues, and I won’t pay much attention to this mistake. {quote} I'm not use TP, I close all position few hours before market close on friday. I only trade pairs with low spread. I wrote about it here. {quote} I use script where the default setting is 25%....

Thank you!
I am following your advice this week and I am also using your own currencies.
Have you noticed an increase in pips not using TP?
  • #1,485
  • Mar 19, 2020 4:17am Mar 19, 2020 4:17am
Quoting dazjw2311
{quote} flat is basically ranging, therefore use a ranging strategy. so this comment aint true
Range trading can generally be implemented at any time, but it proves to be most effective when the forex market lacks direction, with no discernible long-term trend in sight. On the other hand, range trading proves to be at its weakest during a trending market, especially if market directional bias isn’t accounted for.
  • #1,486
  • Mar 19, 2020 4:56am Mar 19, 2020 4:56am
Quoting SwingMan
{quote} Not semicolon?
Yep, you are right semicolon. I never have to bother as my spreadsheet is setup to always open that way. I didn't actually check the output. You can do text to column but its just easier to tick the semicolon box to define how the fields are separated.
  • #1,487
  • Mar 19, 2020 5:21am Mar 19, 2020 5:21am
Quoting zoraxfx
@ PaulDV sorry for our misunderstanding about my comments # post 1419 on your board for GBPCAD you displayed a loss of 155 pips so I thought you didn't put a SL since you should have been stopped at 65 pips with a SL ratio 50 % EDIT your EA is working like a charm ...no bug so far I hope I have been clear this time
Ah, now I understand.

No, the range on GBPCAD for Monday/Tuesday was 239, so the SL should have been 120, but there was a problem with V1 of the EA that I didn't discover until later, which meant the SL was calculated at 155. No biggie - it was just a 1% risk.
"Pips are vanity. Profit is sanity."
  • #1,488
  • Edited 7:29am Mar 19, 2020 6:24am | Edited 7:29am
Quoting 0xff
{quote} I maked a simple script(not EA) for this actions. On first wednesday's H1 bar I drag-n-drop script on the chart. And repeat it for all currencies charts. What script will do: check for highest high and lowest low for last 48 H1 bars and send 2 pending orders - buy stop & sell stop by %fibo setted when script loaded. Example for lvl_for_enter = 25: Entry level for buy stop order = 125% fibo at range Entry level for sell stop order = -25% fibo at range Example for sl_for_order = 25: StopLoss level for buy order = High of range - 25% = 75%...
Any chance you can make an excel calculator for this, or anyone here that can should help out, would be deeply appreciated, thanks
  • #1,489
  • Mar 19, 2020 7:29am Mar 19, 2020 7:29am
Quoting PaulDV
MoTuBo_EA Version 1.01 A quick fix of a couple of issues, and I highly recommend that you use this one in preference to version 1.0 Fixes: The range continued to be recalculated after Tuesday close until an entry was made. Once a trade was open on one pair, it was stopping trades from being opened on other pairs. {file}
Hi Paul, I am testing your expert but on a couple of assets the take profit and stop loss were wrong.
The fibonacci lines were very short but not precise according to the lines.
The example is on EUR / CAD and USD / JPY.
Can it be caused by the spread?
I believe that at the time of the opening of the operation, the spread was too high but since the spread fell below the threshold, the expert opened the operation even with a breakout already taking place.
Could this be the reason?
The orange lines are the opening levels of the expert.
It also happened to us in Usd / Jpy while the other assets are correct

Attached Image (click to enlarge)
Click to Enlarge Name: EurCad.png Size: 74 KB


On USD / JPY you can see better.
The TP, I spsotato I in manual.
The SL, on the other hand, is incorrect

Attached Image (click to enlarge)
Click to Enlarge Name: UsdJPY.png Size: 65 KB
  • #1,490
  • Mar 19, 2020 7:48am Mar 19, 2020 7:48am
Quoting FrancescoDTM
{quote} Hi Paul, I am testing your expert but on a couple of assets the take profit and stop loss were wrong. The fibonacci lines were very short but not precise according to the lines. The example is on EUR / CAD and USD / JPY. Can it be caused by the spread? I believe that at the time of the opening of the operation, the spread was too high but since the spread fell below the threshold, the expert opened the operation even with a breakout already taking place. Could this be the reason? The orange lines are the opening levels of the expert. It...
I did have similar problems with some pairs also. By experimenting I put the EA on H1 charts and it was then perfect. It might be worth trying on yours too.
  • #1,491
  • Mar 19, 2020 8:23am Mar 19, 2020 8:23am
Based on the calculator, won trades are this pairs:
EUR-AUD
GBP-JPY
GBP-USD
EUR-CAD
GBP-CAD
USD-JPY
EUR-GBP
USD-CHF
  • #1,492
  • Mar 19, 2020 8:48am Mar 19, 2020 8:48am
Quoting irvinboy
Based on the calculator, won trades are this pairs: EUR-AUD GBP-JPY GBP-USD EUR-CAD GBP-CAD USD-JPY EUR-GBP USD-CHF
also.........

EU hit TP1
AU hit TP1
NU hit TP2 and then some
EN hit TP2 and then some
  • #1,493
  • Mar 19, 2020 8:54am Mar 19, 2020 8:54am
Quoting smashall2000
{quote} Any chance you can make an excel calculator for this, or anyone here that can should help out, would be deeply appreciated, thanks
Why bother with a script when the ea works well. Just put it on the charts you want on Tuesday and leave it overnight. All orders created Weds morning. Job done.
  • #1,494
  • Mar 19, 2020 8:56am Mar 19, 2020 8:56am
Quoting FrancescoDTM
{quote} Hi Paul, I am testing your expert but on a couple of assets the take profit and stop loss were wrong. The fibonacci lines were very short but not precise according to the lines. The example is on EUR / CAD and USD / JPY. Can it be caused by the spread? I believe that at the time of the opening of the operation, the spread was too high but since the spread fell below the threshold, the expert opened the operation even with a breakout already taking place. Could this be the reason? The orange lines are the opening levels of the expert. It...
Thanks for the feedback.

Having looked at the charts, I suspect that it's to do with price moving after the order has been triggered.

The EA won't place an order exactly on the entry line - the entry line is there purely as a visual marker for the trader - rather it is waiting for the price to reach OR EXCEED the trigger price. It then calculates the entry price based on the CURRENT PRICE at that time.

So, if the price is moving quickly, it is possible for the price to be a few pips higher (or even lower) than the trigger point.
"Pips are vanity. Profit is sanity."
  • #1,495
  • Mar 19, 2020 9:26am Mar 19, 2020 9:26am
Hi PaulDV
Just a question about your excellent EA
With regular Trailing Stop , the Trailing Stop Start is in pips
but what the meaning of Trailing Stop Step 0=auto ?
  • #1,496
  • Mar 19, 2020 9:27am Mar 19, 2020 9:27am
Quoting Spikehunter
{quote} Why bother with a script when the ea works well. Just put it on the charts you want on Tuesday and leave it overnight. All orders created Weds morning. Job done.
Thanks for the reply, not script but .xlsx file calculator. Anyway I'm on mobile this period and will be for a while so I just want an excel calculator based on his settings. I intend to enter trades manually for few pairs. I'm new here so If you can help with the calculator it would be great
  • #1,497
  • Mar 19, 2020 9:59am Mar 19, 2020 9:59am
Quoting zoraxfx
Hi PaulDV Just a question about your excellent EA With regular Trailing Stop , the Trailing Stop Start is in pips but what the meaning of Trailing Stop Step 0=auto ?
Sure, no problem.

Most trailing stops have two parts to them:

  1. The number of pips to trail by (the trail distance).
  2. The number of pips to move the stop by (the trail step).

E.g. if you set the trail distance to 20 and the trail step to 5, the stop will stay where it is until the price is more than 25 pips ahead of the stop, and the stop will then be moved up by 5 pips.

This method is usually used to provide the price with some breathing room, but to then lock in some additional profit each time the price makes a higher high.

If you set the trail step to zero, this removes the 'stepping' feature.
E.g. if you set the trail distance to 20, and the step to 0, the stop will stay where it is until the price is more than 20 pips ahead of the stop, and the stop will then be moved to 20 pips behind the current price.

I hope that all makes, sense, but please ask if you have any further questions.

"Pips are vanity. Profit is sanity."
  • #1,498
  • Mar 19, 2020 10:10am Mar 19, 2020 10:10am
Quoting PaulDV
{quote} Thanks for the feedback. Having looked at the charts, I suspect that it's to do with price moving after the order has been triggered. The EA won't place an order exactly on the entry line - the entry line is there purely as a visual marker for the trader - rather it is waiting for the price to reach OR EXCEED the trigger price. It then calculates the entry price based on the CURRENT PRICE at that time. So, if the price is moving quickly, it is possible for the price to be a few pips higher (or even lower) than the trigger point.

I thought it was so.
The price probably made a small gap.
In these cases, however, the SL and TP are calculated from the open price of the transaction and not from the fibonacci values.
I closed the trade on EUR / CAD today but it would have been TP.
  • #1,499
  • Mar 19, 2020 10:17am Mar 19, 2020 10:17am
Quoting FrancescoDTM
{quote} I thought it was so. The price probably made a small gap. In these cases, however, the SL and TP are calculated from the open price of the transaction and not from the fibonacci values. I closed the trade on EUR / CAD today but it would have been TP.
I assumed that you were not using the "Enter of break and CLOSE of signal line"...is that correct?

The reason I ask is that I was using this week to test that feature out, and have noticed that it has caused at least four of my trades to miss their TP1 target (which was the opposite of what it was for!). Consequently I shall be removing this feature in the next version.
"Pips are vanity. Profit is sanity."
  • #1,500
  • Mar 19, 2020 10:20am Mar 19, 2020 10:20am
Quoting PaulDV
{quote} I assumed that you were not using the "Enter of break and CLOSE of signal line"...is that correct? The reason I ask is that I was using this week to test that feature out, and have noticed that it has caused at least four of my trades to miss their TP1 target (which was the opposite of what it was for!). Consequently I shall be removing this feature in the next version.
Exact.
I am using the default settings.
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