Follow the Candles

Probably the GMT in Reykjavik, it stays the same all year long, unlike that other GMT, cannot trust that one

Happy Easter everyone!

Happy Easter Sir.

Never Trade Price!

Price will always go anywhere.

Always trade the Candles

Yup Lot size is everything

Its much easier to stay in the fight when you use appropriate lotsize

Candles are the PRICE, so actually we are on the same path

Why didn't my GMT reply get any likes?

I thought it was quite in depth and funny; maybe over everybody's head

The Candle sticks we developed to detail price movement so its an historic and therefore predictive in was that price by itself cannot be.

So price is just that...a number...Candles is a description of historical direction of price.

happy easter! Successful basket closed this week

blam

Yup the 03:00 basket reached TP last night with minimal DD.

Its been another mixed bag this week.

The 23:00 set hit TP nice and fast, but the default 03:00 set hit SL hard and fast last night.

I removed the 04:00 and 05:00 tests as overall the last cpl months they did not make profit and in place of them I have added 2 new 02:30 and 03:30 tests to compare. Funny thing is that over the last cpl of months forward testing the 23:00 basket has been doing pretty well and nearly a thousand pips in profit since testing 3 months ago. I've got it running with the new times for comparison and we will see if it remains consistent.

I also made some changes to the daily tests. With the forward data I already compiled I removed some sets and added some new ones. I've now got 12 new daily sets running which should help me compile some good forward data in the months to come. This should be fun!

I'm also working on the idea of adding a virtual basket similar to the CCFp EA. By doing this we can potentially avoid those baskets that run straight to SL like last nights basket. If we had been using a VB last night the EA would not have traded. So I'll keep you updated on that development.

thanks mrdfx, looks like the 23:00 basket test you are running has some potential. My default 03:00 basket also went to SL

blam

*Due to some members comments I felt the need to state publicly that the Follow the Candles EA is FREE and always will be! The is no hidden commercial agenda or plans to sell the EA at any time.!*

Please read above, most people who are downloading are new and might not be using it I have been downloading sometime back but never use the EA but love the the trend indicator. you have done a great job with your ea monthly download is like paying cause money is spent on data for downloading and if you insist people must post the cost is much. hope you do understand the patronage?

Wow its quiet in here.

Well I'm pretty sure activity will pick up again once I post my profitable sets for the local FF spoon feeders. Anyway moving on...

Its been a mixed start again for the weekly sets, the 23:00 basket hit SL and the default 03:00 hit TP. The new weekly sets are still running and close to reaching TP.

The new daily sets have been doing well, some have started to stand out making good profits and some have been terrible, but if I didn't test them I would not know.

I'm working on a new version which has the virtual basket option which should really help improve the stats.

thanks for the update mrdfx, I haven't posted an update yet because my default 03:00am basket still hasn't closed, but it currently is in the positive so may well close out successfully

EDIT: basket closed out at breakeven

blam

Love your threads mrdfx

I still use the Simple daily trend reversal with pivots

Does this indi gives email alerts? I would really like to test out with some pivots and a "volume" indi.

Thank you. I appreciate your work!

Please see attached the latest version 1.7!

V1.7. updates:

1. There is a new virtual basket option.
2. Cleaned up the inputs.

The new big addition to the EA is the virtual basket. It's pretty straight forward on how it works, but I'll explain for those that are not familiar with virtual baskets. I got the idea of adding a VB from the CCFp EA as it has worked very well for a basket trading style EA. Many thanks to xmess7 for helping out with the VB!

Basically what it does is that at the set open time the EA will look at the list of valid pairs and then it opens a virtual basket of those pairs and monitors them. There is a VB trigger value to be set by the user and when the total pips hits the trigger the EA will then open a real basket. I have set an option to only allow pairs in positive pips to be allowed to open and there is also a VB reset after the user selected time.

An example of how to use the VB, you can set a trigger value of 20 pips and a 1 hour expiry so when the EA opens the VB it will wait for the total pips of all the pairs to hit 20 pips and if it does it will open a real basket. If the virtual basket does not hit the trigger then after 1 hour the EA will reset itself and wait for the next session. You have the option to allow all pairs to open or only pairs in positive pips. I think I've explained pretty much how it works, you can play with the VB settings to and if you have questions please ask.

When you set the EA to use the virtual basket on the side of the dashboard a panel will open showing the pip count for all the valid pairs so you can monitor them. At the bottom of the dashboard it will show the trigger level in pips and the virtual basket pip count.

I think with the addition of the VB it can really help to filter out those baskets that hit a loss., and improve the overall results. By using the VB if the trigger is not hit the EA will not trade so there will be no loss. If course its not perfect and there will be times when the VB is triggered and the basket hit SL anyway, but this will really help to filter out those quick losing basket occasions we've had sometimes and minimize losses.

I have also decided to extend the expiry date and have set the expiry to 31/12/2020 so the EA will work until the end of the year.

This is now the most current and stable version. Please give your feedback!

Please test on demo first before thinking about trading this EA live. Thanks!

Post 1 also updated!

Hi mrdfx,
You can condition "Add new Trades suggestions on real basket" like EA CCFp?
Because I see EA only open pairs at the time the EA opened. When the basket has new pairs, the EA does not open new pairs.

great thanks mrdfx

blam

This modification you suggesting is not part of the original strategy and I have actually tested this idea using the EAX dashboard and the results we not very good.

Dear Mr.DFX

After loading EA it exits fast does it required any support indicators?? I tried latest version!