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Attachments: Breakout Trading - Simple Weekly System
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Breakout Trading - Simple Weekly System

  • #81
  • Mar 15, 2020 6:28pm Mar 15, 2020 6:28pm
Quoting SwingMan
{quote} 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.
If you start with 4 lots because you plan on taking half at tp1 then your are increasing your risk overall just so you can reduce risk and take half at tp1. That makes no sense to me. If you are planning on letting a portion of your trade to continue on from tp1 to tp2 you're better of just closing 100% of your initial trade and open a 2nd smaller trade. Again, just my opinion, and as i've said before i've been wrong many many times before, just ask my wife!
  • #82
  • Mar 17, 2020 10:55am Mar 17, 2020 10:55am
Dear Swingman,
Thanks for your indicator.
Can you make addition:
+ 3 more Fibo level factor: TP3, TP4, TP5
+ fibo line can extend to end of week (with 2 option true/false)

P/s: sorry if my emglish is bad, !
  • #83
  • Mar 17, 2020 11:50am Mar 17, 2020 11:50am
Quoting tienpham005
Dear Swingman, Thanks for your indicator. Can you make addition: + 3 more Fibo level factor: TP3, TP4, TP5 + fibo line can extend to end of week (with 2 option true/false) P/s: sorry if my emglish is bad, !
Maybe later.
But it makes no sense for me to program indicators that only you use.

If someone posts an interesting idea in a thread, or other member posts comments, then I can program help tools.
If I don't see any analysis from you or others with a new idea, I have no interest to invest my time.
  • #84
  • Mar 18, 2020 7:13am Mar 18, 2020 7:13am
Great indi. Need ea for placing limit orders with sl and TP. Can anyone share one?
  • #85
  • Mar 18, 2020 11:11am Mar 18, 2020 11:11am
Quoting AlexeyRoss
Great indi. Need ea for placing limit orders with sl and TP. Can anyone share one?
Try this, not limit but Stop orders. for this strategy and it does work.
Attached File(s)
File Type: ex4 EA Daily Mon Tues v1.0.ex4   54 KB | 456 downloads
  • #86
  • Mar 18, 2020 9:38pm Mar 18, 2020 9:38pm
Thank you verymuch Sm for this great indi
  • #87
  • Mar 22, 2020 9:42am Mar 22, 2020 9:42am
Nice indicator colouring is my issue and it can not be set to one week.it gives options but when you change tf it goes back to origin
Will be back in 5years
  • #88
  • Edited Mar 23, 2020 7:32am Mar 22, 2020 12:52pm | Edited Mar 23, 2020 7:32am
Here is version "3 Tier London Breakout V.5.1-GMT" with source code.
The values of the arrows for the D1 filter for UP or DOWN trades are also displayed in "Data Windows".

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1-FilterUpDown.PNG Size: 34 KB

Attached File(s)
File Type: mq4 3 Tier London Breakout V.5.1-GMT.mq4   28 KB | 901 downloads

One D1 one can analyse the filter efficiency:
- Close[1] / Pivot, Middle
- Smash Bar
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDD1-TradeFilter.PNG Size: 40 KB
  • #89
  • Mar 28, 2020 5:09pm Mar 28, 2020 5:09pm
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...
i checked some visual tests for the last 12 weeks, EMA 14 Weekly is a very good filter.
AUDCAD + 1100 pips
AUDCHF +690
AUDJPY + 722
CADCHF + 343
CHFJPY + 275
EURGBP + 745
XAGUSD +1300
GBPUSD +1630
EURUSD +1248 12 months .

Example of USDCHF attached waiting to touch TP2 ,
When it touched TP1 moved to breakeven meanwhile.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-03-28 at 23.06.26.png Size: 84 KB
Download Corti EA : https://cortiea.com
  • #90
  • Apr 1, 2020 2:57pm Apr 1, 2020 2:57pm
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}
Hello SwingMan

My observation, statistically I don't see an advantage to use Monday AND Tuesday for the break out box.
Tuesday is often an inside bar. (Mataf tool volatility)
Presently I use the daily lines boxes indi limited to Mon

Is it possible to make a modification to use only Monday as box in your smBreakout-2D1-Weekly v2.2 ?

Thank you

.
  • #91
  • Apr 2, 2020 2:21am Apr 2, 2020 2:21am
Quoting Shaishen
... Hello SwingMan My observation, statistically I don't see an advantage to use Monday AND Tuesday for the break out box. Tuesday is often an inside bar. (Mataf tool volatility) Presently I use the daily lines boxes indi limited to Mon Is it possible to make a modification to use only Monday as box in your smBreakout-2D1-Weekly v2.2 ? Thank you .
New version "smBreakout-2D1-Weekly v3.0"

to use only by @Shaishen!

With the first parameter "Daily_Box" you can switch between "Monday" and "Monday_Tuesday"
Please test, but I ask you to post some comparative test results, that helps us all.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.rH4-2D1Breakoutv3.0.png Size: 51 KB
Attached File(s)
File Type: ex4 smBreakout-2D1-Weekly v3.0.ex4   27 KB | 901 downloads
  • #92
  • Apr 2, 2020 2:40pm Apr 2, 2020 2:40pm
Quoting SwingMan
{quote} New version "smBreakout-2D1-Weekly v3.0" to use only by @Shaishen! With the first parameter "Daily_Box" you can switch between "Monday" and "Monday_Tuesday" Please test, but I ask you to post some comparative test results, that helps us all. {file} {image}
SwingMan - thank you very much.
Following a few examples side by side Mo and MoTu with your indicator.
The last example is a difference at extreme - doesn't happen too often but it does happen (news driven or other catalyst)

Prior to my request I did look back at several pairs with the Daily Lines Box indicator.
Based on my observation I inquired if you could modify your MoTu smBreakout-2D1-Weekly indicator to only Monday.

There are weeks with Tue inside days which would make no difference since Mon would determine the box size.
There are weeks with Tue breakout in which case the only Mon box starts to make profit on Tue.
On a 4 hr chart I use a simple 20 SMA to filter break out direction.
I will update this test as it progresses.
.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: SwingMMo1.PNG Size: 80 KB
Click to Enlarge Name: SwingMMo2.PNG Size: 89 KB
Click to Enlarge Name: SwingMMo3.PNG Size: 84 KB
Click to Enlarge Name: SwingMMo4xtrem.PNG Size: 98 KB
  • #93
  • Apr 2, 2020 4:11pm Apr 2, 2020 4:11pm
Quoting Shaishen
....Following a few examples side by side Mo and MoTu with your indicator...
General is fine, but how do you manage the trades in the second and fourth rows, where the entry on Monday breakout is unfavorable compared to the Mo-Tu breakout?
  • #94
  • Apr 3, 2020 11:33am Apr 3, 2020 11:33am
Quoting SwingMan
{quote} General is fine, but how do you manage the trades in the second and fourth rows,
where the entry on Monday breakout is unfavorable compared to the Mo-Tu breakout?
Yes, always two sides to a coin - There will be weeks when Mon only will be more profitable and weeks when MoTu
will be more profitable (resp losses will be smaller/larger).
We could use a Wed box or Fri and start Mon just like any variation of London, NY, Asia break out.
Eventually trade management will determine the outcome.
Personally I see no advantage to wait till Tue end of session. Looking at Mataf volatility stats for a long time made
me decide for Mon only box.

The 4th row I think the only Mon would have outperformed the MoTu version, especially the 2nd box from left where
price dropped all day Tues.

If a pair is trending nicely like GBPUSD over the last 3 weeks, a perfect smooth up and down swing, both box set ups
work however the Mon only set up also gains the Tue pips.

I do not apply the 15% entry factor but take the trade as price crosses the box border.
SL is the 20 SMA resp half the box size whatever comes first
Trade management (Virtual Trader ea) enters 3 separate units - 1st target is 9 pips - then SL moves to break even.
2nd target is 18 pips and trailing stop kicks in.
Will see what happens next week.

Have a wonderful weekend and stay healthy.

.
  • #95
  • Apr 7, 2020 3:48pm Apr 7, 2020 3:48pm
Quoting mastercool66
{quote} i checked some visual tests for the last 12 weeks, EMA 14 Weekly is a very good filter. AUDCAD + 1100 pips AUDCHF +690 AUDJPY + 722 CADCHF + 343 CHFJPY + 275 EURGBP + 745 XAGUSD +1300 GBPUSD +1630 EURUSD +1248 12 months . Example of USDCHF attached waiting to touch TP2 , When it touched TP1 moved to breakeven meanwhile. {image}
Hi mastercool66

when you say 14 ema weekly do to mean 1680 ema on the hourly and 70 ema on the daily chart?

thanks
  • #96
  • Apr 8, 2020 1:34pm Apr 8, 2020 1:34pm
Hi Swingman

Could you plse add a alert when price hits box H or L.
Trade Without Fear
  • #97
  • Apr 11, 2020 7:59am Apr 11, 2020 7:59am
Quoting Erebus
@ Swingman, Thanks for your contribution, I’m sure it will help many. Only a question about the TP lines, why are they called 50% and 100% ? And what are the calculations based on or from? For example, Entry 71.82 - Stop Loss 70.46 = 1.36 (136 pips) Add 1.36 to Entry = 73.18 for the 1 to 1 TP, you show 72.55 for 50% ? Add 1.36 again = 74.54 for the 2 to 1 TP, you show 73.60 for 100% ? As shown by Mr Fibonacci , but definitely not Fibonacci levels Thanks, {image}
OT: Can you lead me to the indicator for your chart? thanks!
Don't bet the farm house.
  • #98
  • Apr 11, 2020 9:07am Apr 11, 2020 9:07am
Quoting akosichago
{quote} OT: Can you lead me to the indicator for your chart? thanks!
it’s the Fibonacci Tool, read the thread

https://www.forexfactory.com/showthr...0#post12798780
It takes a lot for me to IGNORE you, but you can try.
  • #99
  • Apr 11, 2020 9:50am Apr 11, 2020 9:50am
Quoting SwingMan
New Version "smBreakout-2D1-Weekly v1.1" - The indicator now also works for Gold/Oil etc., when the trading day does not start at 00:00. - For the Fibo-Levels I took the R:R = 1:1 values from @Erebus because the author didn't complain ... {image} {file}
Please can you make this open source? Can we get the mq4 file so we can do some edits ourselves to the levels, entry and exit without bugging you. Thanks in advance Swingman.
Read in between the price!!!
  • #100
  • Apr 11, 2020 10:30am Apr 11, 2020 10:30am
Quoting calebfx
{quote} Please can you make this open source? Can we get the mq4 file so we can do some edits ourselves to the levels, entry and exit without bugging you. Thanks in advance Swingman.
Sure, maybe the next version with alerts.

I am pleased that many members download this indicator for the private collection, because I have not yet seen any charts with it.
Everyone just wants to use the EA, so the indicator is superfluous!
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