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Daily Charts and Stuff

  • #21
  • May 11, 2020 8:44am May 11, 2020 8:44am
Have been looking at a few of last weeks trades, and applying idea of using H4 signal as exit. Here is Result for EurJpy trade, and how many pips I would have saved.

• Arrow shows where H4 signals exit.
• Vertical line on Sub Graph 2 (i Trend_Ronsite) shows 4th indicator confirmation.
• Orange Line (Exit Level) shows where my actual exit was.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ H4 Alt Exit.png Size: 91 KB
  • #22
  • May 11, 2020 8:56am May 11, 2020 8:56am
Here is Result for GbpJpy trade, and how many pips I would have saved.

• Arrow shows where H4 signals exit.
• Vertical line on Sub Graph 2 (i Trend_Ronsite) shows 4th indicator confirmation.
• Orange Line (Exit Level) shows where my actual exit was.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ H4 Alt Exit.png Size: 93 KB
  • #23
  • May 11, 2020 3:17pm May 11, 2020 3:17pm
Daily open trades.

• CadJpy & NzdJpy are trades from D1

• AudChf & EurNzd are trades from H4
Attached Image (click to enlarge)
Click to Enlarge Name: May 11 Trades 1500.png Size: 94 KB
  • #24
  • Edited May 12, 2020 5:54am May 11, 2020 8:29pm | Edited May 12, 2020 5:54am
AudChf Hit First Target. Just over 5 hours.

* Update: 2nd position Hit BE Stop
Attached Image (click to enlarge)
Click to Enlarge Name: AudChf first Target.png Size: 84 KB
  • #25
  • Edited 5:08am May 12, 2020 4:53am | Edited 5:08am
Looks good Diamond.
I have some forensic back test results on my algo which I'll run a comparison with. I like to trade in 3 parts with presets, all parts with 1.5 ATR SL. 1st x1 ATR target, 2nd x2 ATR target, 3rd trend or exit or Trailed SL.
Going back a few of your posts to the EURUSD.
I've marked trades on the basis of my understanding of your system. All are winners. The 1st is the only one not to hit x2 ATR. CMF looks like the exit indi and works on trades 1, 2 and 4. Trailed SL being the exit on 3.
Attached Image (click to enlarge)
Click to Enlarge Name: dIAMOND.JPG Size: 105 KB
  • #26
  • May 12, 2020 5:43am May 12, 2020 5:43am
Quoting butama
Looks good Diamond. I have some forensic back test results on my algo which I'll run a comparison with. I like to trade in 3 parts with presets, all parts with 1.5 ATR SL. 1st x1 ATR target, 2nd x2 ATR target, 3rd trend or exit or Trailed SL. Going back a few of your posts to the EURUSD. I've marked trades on the basis of my understanding of your system. All are winners. The 1st is the only one not to hit x2 ATR. CMF looks like the exit indi and works on trades 1, 2 and 4. Trailed SL being the exit on 3. {image}
++++++++++++++++++++++++++++

Good stuff Chris. Have also been thinking about adding an additional TP. Seems like many trades do go 2X's ATR with no problem.
? Are all three of your positions the same size?
  • #27
  • May 12, 2020 6:22am May 12, 2020 6:22am
Darryl, here's couple of examples of test results for USDSGD and USDCHF for my algo. Currently all trade parts are the same size at the same time.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDSGD.JPG Size: 76 KB
Click to Enlarge Name: USDCHF.JPG Size: 65 KB
  • #28
  • May 12, 2020 6:40am May 12, 2020 6:40am
And just so you know it's not all plain sailing GBPUSD - 32 trades, 7 losses. x1 ATR 81%, x2 ATR 50%
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.JPG Size: 74 KB
  • #29
  • May 14, 2020 5:58pm May 14, 2020 5:58pm
Hi Everyone

Great Algorithm Darryl, the Chaikin Money Flow seems to be a great all round indicator, but especially on exits.

Thanks Butama for a look at the spreadsheets, a good format.

I making a bit of progress, but have nothing to bring to the table yet as I have a lot of other commitments.

However I've been looking at indicators.

You all may be aware of this one, but its a tool that someone created to deal with NNFX ATR calculations for the amount to place on a trade, I've attached it if anyone is interested and its on the MQL5 website here. Its called pos_size.mq4 - https://www.mql5.com/en/code/23886

There is another ATR indicator for doing back testing https://www.mql5.com/en/market/produ...08#description and the same coder has created an EA for back testing, which seems really good, but complicated for me so i'll stick to something more basic for now. https://www.mql5.com/en/market/produ...tab_p_overview

Regards,

TradeRancher
Attached File(s)
File Type: mq4 pos_size.mq4   8 KB | 337 downloads
File Type: docx Position Size Calculator - Notes.docx   31 KB | 384 downloads
  • #30
  • May 22, 2020 6:39pm May 22, 2020 6:39pm
Looks good Darryl, thanks for sharing. I found this thread from the No nonsense Forex - VP thread. I'm brand new so don't have a whole lot to contribute yet but liked the tweaks you and butama made to the NNFX system, both of your results look very encouraging.

Are you using Rex as an entry and CMF for exits?

Butama - I liked your idea of a manual trailing stop in other thread. Exits have given me the most trouble so far in backtesting, albeit I'm working with a pretty solid lack of experience and haven't had much time managing a trade yet.

Thanks again to you both. It is definitely a lot of work to learn and BYO system but so far it's been rewarding work. I've felt fortunate that I stumbled upon VP's content so early in my trading life and seeing results such as your own are definitely encouraging. Appreciate your willingness to share and I look forward to giving some meaningful feedback in the near future!
  • #31
  • Edited 6:37pm May 23, 2020 6:20pm | Edited 6:37pm
For Darryl, as discussed.

Trade as depicted in chart screenshot. ATR = 21. Trade high was 52 pips. x1 ATR and x2 ATR targets both hit, with pullback to exit trade plus 16 pips on 3rd component. Profit total for 3 tier trade management strategy 79 pips in 5 hours. Still to be determined - Exit on the CMF cross or fractal high reversal candle. All the trade data in spread sheet uses CMF cross for exit.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD H1.JPG Size: 91 KB
Attached Image
  • #32
  • May 23, 2020 6:47pm May 23, 2020 6:47pm
This trade closed 120 pips on the trend component
Attached Image
  • #33
  • May 25, 2020 1:34am May 25, 2020 1:34am
Quoting butama
And just so you know it's not all plain sailing GBPUSD - 32 trades, 7 losses. x1 ATR 81%, x2 ATR 50% {image}
Hi sir, are you using the default settings for all indicators? There seem to be an entry on 9 Feb 2018 but did you not take the trade with all the indicators indicating a sell?
  • #34
  • May 25, 2020 2:14am May 25, 2020 2:14am
Quoting keeleytan
{quote} Hi sir, are you using the default settings for all indicators? There seem to be an entry on 9 Feb 2018 but did you not take the trade with all the indicators indicating a sell?
Hi Keeley,

The results I published were not for the set up Diamond has very kindly showed us. I was offering spreadsheets of back tests based on MY algo to compare results with the set up Diamond published.

I've not published the components of my algo, and, it did not signal a short GBPUSD trade on 9th Feb 2018. Hope this clears things up.
  • #35
  • May 25, 2020 4:26am May 25, 2020 4:26am
Quoting butama
{quote} Hi Keeley, The results I published were not for the set up Diamond has very kindly showed us. I was offering spreadsheets of back tests based on MY algo to compare results with the set up Diamond published. I've not published the components of my algo, and, it did not signal a short GBPUSD trade on 9th Feb 2018. Hope this clears things up.
Got it, thanks a lot
  • #36
  • May 27, 2020 5:38am May 27, 2020 5:38am
Hi Diamond, what moving average are you using as your baseline here?
  • #37
  • May 27, 2020 6:27am May 27, 2020 6:27am
Quoting BigDave1
Hi Diamond, what moving average are you using as your baseline here?
++++++++++++++++++++++++++

Hey Dave. The baseline I'm using in pics, is Kijun-sen. Guess I never mentioned that.

Also I like 26 ema or sma. If you want to use a baseline, choose which looks best to you.
  • #38
  • Jun 5, 2020 4:18am Jun 5, 2020 4:18am
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++ Hey Dave. The baseline I'm using in pics, is Kijun-sen. Guess I never mentioned that. Also I like 26 ema or sma. If you want to use a baseline, choose which looks best to you.
Thanks Diamond.

Would you mind explaining how you use the ADR?

Also, how do you avoid whipsaws/ranging markets? I've been back-testing the algorithm (with a few of my own tweaks/additions) and I feel as if I am taking too many losses due to whipsaws/ranging markets.
  • #39
  • Jun 5, 2020 8:00am Jun 5, 2020 8:00am
Quoting BigDave1
{quote} Thanks Diamond. Would you mind explaining how you use the ADR? Also, how do you avoid whipsaws/ranging markets? I've been back-testing the algorithm (with a few of my own tweaks/additions) and I feel as if I am taking too many losses due to whipsaws/ranging markets.
++++++++++++++++++++++++++

Hi Dave. To be fair, when the market is generally ranging on many pairs (D1) It's tough to make anything work. In fact my research on this general trading style comes from VP https://www.youtube.com/channel/UCc8...r4NGbaQFnd2b-A , who is probably not trading D1 at this time, according to his basic methods.

Feel free to share your take on trading, preferably D1 & H4.

More later,
Darryl
  • #40
  • Jun 5, 2020 6:07pm Jun 5, 2020 6:07pm
Quoting BigDave1
{quote} Also, how do you avoid whipsaws/ranging markets? I've been back-testing the algorithm (with a few of my own tweaks/additions) and I feel as if I am taking too many losses due to whipsaws/ranging markets.
Dave, I was the same until an epiphany struck.

1) Don't trade against the trend! This will eliminate most of the losers. How to determine the trend may require an indicator or you can do it by eyeballing price action. I use Ultratrend and price action. When I added this element to my testing I saw an immediate improvement to test results. From mid 60's to 87% strike rate on current forward testing. I've published my stats on https://www.fxblue.com/users/1033. If you filter the data from 17th feb 2020 you'll see how much this has improved since I incorporated this into my trading.

2) There are some indi's designed to pick out 'no trade' zones for ranging periods. They lag, but may be of use. I'll attach a couple but it's worth researching them. To get an idea try putting an MA 15 smoothed high and an MA 15 smoothed low on the chart. Any action inside the channel is no trade action. I want to be clear, I don't use any of these in my daily trend trading set up, but I experimented with all of them in order to get to where I am now.
Attached File(s)
File Type: mq4 ultra_trend_basic_smooth_nmc.mq4   8 KB | 434 downloads
File Type: mq4 squeeze-break-indicator3.mq4   10 KB | 378 downloads
File Type: mq4 signal_to_noise_2.mq4   3 KB | 404 downloads
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