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Attachments: The Ghillyoar System (buying highs and selling lows)
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The Ghillyoar System (buying highs and selling lows)

  • #21
  • Apr 13, 2021 2:02am Apr 13, 2021 2:02am
Quoting Paddy9
{quote} I am glad that you find the system interesting. Ghillyoar has no traditional stop loss and no traditional take profit,,,,,,,,,, but we do accept losses..........and I have not seen exit rule two anywhere else . Who knows the system might be better with a traditional TP and SL, maybe some one will run a test. The published back test is for EURUSD and was for 21 years. However if you read my second post you will see that I believe that MetaTrader back tests are very unreliable.


As long as the data is good, it should be okay. And I suggest using MT5
In God we trust. All others must bring data.
  • #22
  • Apr 13, 2021 3:02am Apr 13, 2021 3:02am
Quoting Paddy9
The Ghillyoar System: Trades are filtered: Buys are only allowed if the previous candle closed higher than the 23ema. iClose(NULL,0,1)> iMA(NULL,1440,23,MaShift,MODE_EMA,MaPrice,0) Sells are only allowed if the previous candle closed lower than the 23 ema iClose(NULL,0,1)< iMA(NULL,1440,23,MaShift,MODE_EMA,MaPrice,0)
Shift is 0, if it is checked at the beginning of each trading day, there's no difference between a shift of 1 or 0. But if is checked over the whole trading day, it is in fact looking for the moment when the ema dips below/rise above yesterday's close. But I think there is little difference for a long term strategy.
  • #23
  • Apr 13, 2021 3:34am Apr 13, 2021 3:34am
Hi guys i think i don't understand the rules. Maybe it is because my bad english. Can someone clarify this. In the screen below i marked the buy setup. Is this a good setup or i missed something?
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  • #24
  • Apr 13, 2021 3:48am Apr 13, 2021 3:48am
EURGBP first 3 months of the year.
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  • #25
  • Apr 13, 2021 11:08am Apr 13, 2021 11:08am
Have you thought to maybe use ATR for the buy and sell bench instead of fixed 30 pips?

Maybe it would be more suitable if we were to use it on many pairs.
In God we trust. All others must bring data.
  • #26
  • Apr 13, 2021 11:23am Apr 13, 2021 11:23am
suscribed, thank you very much Paddy9, very interesting,
there are a couple more threads related it in ff (https://www.forexfactory.com/thread/...rning-to-hedge)

What is Ghillyoar?

i have been developing a "strategy" similar to this for a while, very similar concept
it seems that I am not the only "crazy" who buy highs and sell lows...
there are differences with what I do...
i don't use indicators, no EAs, most of the time pending orders, and don't use SL
i consider important the control over the weight of each trade, and the control in the distance between the average of trades
in short: risk control
a few months ago I started in real,
the results: impressive (at least for me) and 0 stress (when you know where you are and what to do)

keep it, regards
Newbie trader
  • #27
  • Apr 13, 2021 11:49am Apr 13, 2021 11:49am
Also do you enter on the tick that your price hits bench or you enter only on the start of the candles? I am guessing on the tick, but let me know
In God we trust. All others must bring data.
  • #28
  • Apr 13, 2021 12:51pm Apr 13, 2021 12:51pm
Quoting Mr.Sexobeat
Also do you enter on the tick that your price hits bench or you enter only on the start of the candles? I am guessing on the tick, but let me know
without wishing to bother the thread, in my case, it is not too important whether it is at the start of the candle or not, most of the time pending orders,
the decisions to take a trade, it is based on my "line in the sand" (daily opening, also interesting weekly and monthly), statistical prices (personal develop) and PA (also taking into account the appetite of "market makers" for SL)
Price above open remains buyers, price below open remains sellers
nothing complicated (but yes effective), something "simple" works better...

as encouraged/suggested in this thread, approx 70-80% MM and 20-30% TA

regards
Newbie trader
  • #29
  • Apr 13, 2021 1:37pm Apr 13, 2021 1:37pm
1. The answer to everything is in the first 2 lines of this thread.
2. I am pleased that people are now ( after only 24 hours ) starting to ask some of the right questions.
3. Like Eric Morecombe I will give all the right answers, but not neccessarily in the right order.
4. I am hoping that once we get past the stage where people understand Ghillyoar... they will tell me how to improve it.

ATR sounds good , worth testing.
I use Bench plus or minus 30 pips because in all of my tests I use a spread of 30 pips.

When I wrote the buy trigger I know what I intended...... in case I coded something different that works better here is the trigger:

iClose(NULL,0,1)>Buy_Bench
&& iClose(NULL,0,1)> iMA(NULL,1440,23,MaShift,MODE_EMA,MaPrice,0)

If there is a coder out there who can explain I would be grateful.
  • #30
  • Apr 13, 2021 2:32pm Apr 13, 2021 2:32pm
Quoting Paddy9
I use Bench plus or minus 30 pips because in all of my tests I use a spread of 30 pips. When I wrote the buy trigger I know what I intended...... in case I coded something different that works better here is the trigger: iClose(NULL,0,1)>Buy_Bench && iClose(NULL,0,1)> iMA(NULL,1440,23,MaShift,MODE_EMA,MaPrice,0) If there is a coder out there who can explain I would be grateful.
I intended to query the trigger conditions earlier because your description omitted the bench levels in the entry filters and basically made the bench calcs completely pointless, but I'm glad you've now clarified that point. The logic is actually to enter at the start of a [0] bar if the close of bar[1] exceeds the bench value AND the close of bar[1] is above the 23 EMA.

However, I'm still confused by the "+/- 30" aspect - I initially thought you meant 30 pips, but from your "spread of 30 pips" comment above, I think you actually mean 30 POINTS i.e. just 3 pips, because no-one trades with a 30-pip spread unless it's something like Gold or Bitcoin... hopefully you will confirm.
  • #31
  • Apr 13, 2021 2:58pm Apr 13, 2021 2:58pm
Yeah, this is what I just wanted to ask, but fxtrue asked the questions.

By 30 pips spread, you probably mean points? Please clarify
In God we trust. All others must bring data.
  • #32
  • Apr 13, 2021 3:12pm Apr 13, 2021 3:12pm
Quoting fxtrue
{quote} I intended to query the trigger conditions earlier because your description omitted the bench levels in the entry filters and basically made the bench calcs completely pointless, but I'm glad you've now clarified that point. The logic is actually to enter at the start of a [0] bar if the close of bar[1] exceeds the bench value AND the close of bar[1] is above the 23 EMA. However, I'm still confused by the "+/- 30" aspect - I initially thought you meant 30 pips, but from your "spread of 30 pips" comment above, I think you actually mean 30...
I am so glad that you are here and are being helpful .
I am relieved that my intentions were exactly reflected in the coding, Thanks for the confirmation.

I use a spread of 30 ( pips ?) in back tests.
I am attaching a back test that shows the 30 setting ( top right corner just under the period setting).

Here is the coding that I used to calculate the Buy Bench

if (
iClose(NULL,0,2)>Buy_Bench )
{ Buy_Bench=iClose(NULL,0,2) +30 * myPoint; }


As a complete aside, in the picture I like the way Ghillyoar sold until the sell off was completed.........and then it bought,,,,,
probably a very lucky coincidence.
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  • #33
  • Apr 13, 2021 3:20pm Apr 13, 2021 3:20pm
Quoting Paddy9
Exit Rule Number Two One of the two following conditions has to be satisfied. The total Open profit on buys has to be higher than 20$. or The total Open profit on sells has to be higher than 20$ In addition the following condition must be satisfied: The number of open buys must be equal to the number of open sells. Example1. We have four open trades ……….. 1 Buy and 3 sells. We are losing but Ghillyoar does nothing, After a while we open 2 more buys. We now have 3 open Buys and 3 three open sells. Either the buys or the sells are likely to be in...
Could you expand a bit more on the "not recalculate" part? For example, in your UJ chart (post #17) - after the short in loss we get a long which gets to +20 and all is closed. The next new buy trade however seems to start from a recalculated bench?
  • #34
  • Apr 13, 2021 3:41pm Apr 13, 2021 3:41pm
Quoting Paddy9
I use a spread of 30 ( pips ?)
Points ;-)

As Sexobeat recommended, a variable range would be better. Especially when applying on different pairs. Take for example this table:

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https://www.mataf.net/en/forex/tools/volatility


What I love with this approach is the fact, that it sounds like against all odds. But isn't that what the brokers do? They manipulate the market in a way that everyone loses who thinks rationally. "It must go down"... strike: it goes up. "Haha, fooled y'all again!"
The system looks like an anti-grid-trader...
  • #35
  • Apr 13, 2021 3:55pm Apr 13, 2021 3:55pm
Quoting fxtrue
I think you actually mean 30 POINTS i.e. just 3 pips, because no-one trades with a 30-pip spread unless it's something like Gold or Bitcoin... hopefully you will confirm.
Certainly. Take a look at the screenshot with the strategy tester. He uses 30 (points).
  • #36
  • Apr 13, 2021 4:02pm Apr 13, 2021 4:02pm
Quoting Go5
{quote} Could you expand a bit more on the "not recalculate" part? For example, in your UJ chart (post #17) - after the short in loss we get a long which gets to +20 and all is closed. The next new buy trade however seems to start from a recalculated bench?
Thanks for your interest. I will try to explain.

We have 2 systems of exit,

Number One ,
Number one checks to see if we have successfully hit our target. If we have it says thanks very much we can now start afresh. New Buy Bench. New Sell Bench and a new profit target which is 50$ higher than our current equity.
So in this case there is a re-calculation,

Number Two
Ghillyoar gets fed up if the number of sells is the same as the number of buys. So if we have the same number of buys as sells we exit all trades. However the system remembers the initial equity target and will not effect a complete reset of Buy Bench and Sell Bench until the targets are hit.
So in this case there is a recalculation.



In post 17.
The sell is losing and a new buy opens.
Rule 2 Kicks in and we close everything.
We are flat.
Price moves up and creates a new Buy Bench,
The Buy Bench is exceded. We are in long.

Our target is the original profit target.
  • #37
  • Apr 13, 2021 4:17pm Apr 13, 2021 4:17pm
Sorry for the typo in my previous post.
Exit two should read " so in this case there is no recalculation.
  • #38
  • Apr 13, 2021 4:27pm Apr 13, 2021 4:27pm
Quoting ursinho4711
{quote} Points ;-) As Sexobeat recommended, a variable range would be better. Especially when applying on different pairs. Take for example this table: {image} https://www.mataf.net/en/forex/tools/volatility What I love with this approach is the fact, that it sounds like against all odds. But isn't that what the brokers do? They manipulate the market in a way that everyone loses who thinks rationally. "It must go down"... strike: it goes up. "Haha, fooled y'all again!" The system looks like an anti-grid-trader...


Well, if we use points and not pips, then 3 pips can be a benchmark for all pairs. It is really small tho, if it was 30 pips as we thought, then ATR would serve a better purpose!
In God we trust. All others must bring data.
  • #39
  • Apr 13, 2021 4:42pm Apr 13, 2021 4:42pm
Quoting Mr.Sexobeat
{quote} Well, if we use points and not pips, then 3 pips can be a benchmark for all pairs. It is really small tho, if it was 30 pips as we thought, then ATR would serve a better purpose!
I did not dive in deeper into the strategy, nor do I have details of the code. I just saw the 30 in the strategy tester and that is imho 30 points and not pips. Please correct me if I am wrong.
For the entry conditions I do no know whether it is points of pips, have to see the code. 300 points difference sounds alot though for a trend following grid. Something like half of a daily candle. But might work with this strategy.
Maybe the system works with 30 pips, he just used 3 pips in the tester... and that's why the results were good.
But that's a shot in the dark. Code snippets please.
  • #40
  • Apr 13, 2021 4:57pm Apr 13, 2021 4:57pm
Todays last post. USD CHF for first 3 months,
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