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DOSI: Daily Open Strategy Improved

  • #21
  • Sep 30, 2021 2:43am Sep 30, 2021 2:43am
Quoting yoriz
{quote} If the backtest stops, then the EA must have logged an error message. What does it say in the "Journal" tab?
Now i've a new demo mt5 account and everithink seems ok.
About spread i mean, take it hard coded to 4 pips coul be a problem for all pairs (or index) with large spread
Thanks
Regards
  • #22
  • Sep 30, 2021 3:20am Sep 30, 2021 3:20am
Quoting yoriz
How should that work? Should the EA just ignore Sell/Buy opportunities and move on, or should the EA force to Sell/Buy orders even if the strategy suggests the opposite?
Mate, it will just work same as MT4's Common Tab for Buy Only, Sell Only, or Buy and Sell.

Actually, this feature/user input is pretty common among the MT5 EA, as the Common Tab is gone in MT5.

Buy and Sell Mode is what we are having now.

If we set to Buy Only, the EA will only open Long Trades, based on the settings that we set, and deal the strategy as it is.

Same for Sell Only. Not sure how can I elaborate more, it works exactly the same as the MT4's Common Tab for Buy Only, Sell Only, or Buy and Sell.

A good thing of this feature is, we can do optimization on Buy Only, Sell Only, or Buy and Sell, or, trade with direction bias on the latest market condition.

If we know the market is in clear strong upward trending, maybe we might only want the EA open Long trades only, as Short trades might not be that profitable and bring drawdown and risks.

In addition to that, an uptrend market vs a downtrend market might need different settings especially the MinBarLengthPips and TP.

We have no clue about all these at this moment. Let's make this user input available, and we'll backtest, optimize and see.

Mate, let me know if anything I can help you with.

Once again, many thanks for your great work and valuable time.
  • #23
  • Sep 30, 2021 4:31am Sep 30, 2021 4:31am
Quoting cescof
About spread i mean, take it hard coded to 4 pips coul be a problem for all pairs (or index) with large spread
You got it. Added a MaxSpreadPips input parameter to version 1.15. See post #1 for download link.
  • #24
  • Sep 30, 2021 4:51am Sep 30, 2021 4:51am
Quoting bdunn
it will just work same as MT4's Common Tab for Buy Only, Sell Only, or Buy and Sell.
I see, you just want to suppress Buy or Sell orders if needed. Not force a Buy order where otherwise a Sell would have been made. I have added the TradeDirection input parameter to version 1.20. See post #1 for download link.
  • #25
  • Sep 30, 2021 6:26am Sep 30, 2021 6:26am
Quoting yoriz
{quote} I see, you just want to suppress Buy or Sell orders if needed. Not force a Buy order where otherwise a Sell would have been made. I have added the TradeDirection input parameter to version 1.20. See post #1 for download link.
Thanks mate!

I will test the EA whenever I am free.

Respect,
Bill
  • #26
  • Sep 30, 2021 7:08am Sep 30, 2021 7:08am
@yoriz

Mate,

1. Is the MaximumDrawdownPercent is a Equity Drawdown or Balance Drawdown? I believe it is a Balance Drawdown. Preference will be Equity Drawdown. Can an user input added to choose a Balance-Based or Equity-based Drawdown?

2. Are the commission and swap fees deducted in Net Profit/TP calculation on the EA?

For example, if TP set to 100 pips, that will be the net profit of 100 pips, after deducting the commission and swap fees. If not included, that's fine. Just want to make sure and confirm.

Cheers!
  • #27
  • Sep 30, 2021 7:45am Sep 30, 2021 7:45am
There is any logic if the trade goes against us open a new trade every new day on the opposite direction like the first trade? Maybe its more easy to close the basket? It’s only an Idea.

Maybe other option for calculate TP is ADR
  • #28
  • Sep 30, 2021 7:52am Sep 30, 2021 7:52am
Quoting bdunn
Is the MaximumDrawdownPercent is a Equity Drawdown or Balance Drawdown?
Isn't that the same? At the time we open the first order of the day, the equity is equal to the balance. During the day the equity starts to drop, because: Equity = Balance + floating P/L. When the floating P/L become too negative (default 25% of balance) we close all trades.

Quoting bdunn
Are the commission and swap fees deducted in Net Profit/TP calculation on the EA?
TP is expressed in pips (in price movement). Commission and swap fees are costs expressed in money (e.g. dollars). They are different things. Not sure how we could combine them in one TP, unless we express the TP not in pips but in money. But that would make it dependent on the lotsizes which complicates matters.

Hope this makes sense.
  • #29
  • Sep 30, 2021 7:59am Sep 30, 2021 7:59am
Quoting amargam
There is any logic if the trade goes against us open a new trade every new day on the opposite direction like the first trade? Maybe its more easy to close the basket?
Thanks for the suggestion, but I don't see how that should work. Suppose we have an open Buy that goes against us. Opening an equal sized Sell basically means we are fully hedged and effectively out of the market. We might as well have closed the first Buy trade to achieve the same position without the cost of opening an additional trade.

The strategy uses Averaging Down to wiggle out of a bad trade. That works only if you keep opening trades in the same direction so that the average price (the break-even price of all trades combined) keeps shifting towards the current market price. The big disadvantage is obviously that things can get out of hand fairly quickly leaving you with a huge drawdown.

Quoting amargam
Maybe other option for calculate TP is ADR
Thanks, that idea was indeed posted several times in the original thread also. Both the MinBarLengthPips and TakeProfitPips input parameters would need to scale dynamically based on current market conditions (e.g. ADR or ATR). I will try to add that to the EA.
  • #30
  • Sep 30, 2021 2:19pm Sep 30, 2021 2:19pm
Thanks for effort and updates,
one suggestion to add fixed lot size fo entries other then %
Thanks
Regards
  • #31
  • Sep 30, 2021 2:55pm Sep 30, 2021 2:55pm
Normally the EA would look for bars of which the body length is at least MinBarLengthPips. In version 1.25 I added the option to use a dynamic body length that adjusts to market conditions. See post #1 for a download link.

By setting BarSelection to SelectPercentile, the EA will use the LargeBarPercentile input parameter instead of MinBarLengthPips. This determines how exceptionally large the candle body must be. For example, if you set LargeBarPercentile to 5.0, it will select bars that are in the top 5% of all bar lengths. In other words, it checks if the bar is larger than 95% of the previous bars. Use the NrBarsLookback input parameter to specify how far to look back.

In my experience percentiles work better than ATR or ADR because we are not looking for average lengths, we are looking for extremes. The only drawback of using percentiles is that it needs some lead-in time before it has enough statistical info. To reduce the lead-in time, the EA will start trading already after only 1/10th of the NrBarsLookback bars.
  • #32
  • Oct 1, 2021 1:43am Oct 1, 2021 1:43am
Just a note. Backtests of the latest version of EA from xmess7 on MT4 have shown that it works reliably. EA has no expiration or other restrictions.
Please excuse the bad English via Google Translate.
  • #33
  • Oct 1, 2021 2:21am Oct 1, 2021 2:21am
Quoting dokopy
Just a note. Backtests of the latest version of EA from xmess7 on MT4 have shown that it works reliably. EA has no expiration or other restrictions.
it works, but in visual mode I have a problem. When trade goes in opposite direction, I saw that no open new trade on sunday candles. Also the problem with the strategy is the DD, so we are here to maybe add some parametres to reduce the DD, maybe using some pairs no correlated to reduce the exposure. Three pairs at the same time with a huge DD blows account and lose all the benefit gain in years.

maybe the MM is the key instead others parametres
  • #34
  • Oct 1, 2021 2:22am Oct 1, 2021 2:22am
Quoting dokopy
Just a note. Backtests of the latest version of EA from xmess7 on MT4 have shown that it works reliably. EA has no expiration or other restrictions.
Good to know. Was that the original strategy or with some modifications?
  • #35
  • Oct 1, 2021 3:03am Oct 1, 2021 3:03am
Hi,

Well this post won't be a post with any suggestions at all, but just a post of appreciation.

Yoriz, big thanks for taking on the tasks and creating the EA and also quickly applying suggestions from the people in the thread! I am mostly lurking the forum but I have a MT5 setup trading 16 pairs with your first version of the 1 where I did some optimization on each pair (not a long optimization but a quick one 9 months back in time). Sofar just out of the box it seems to do rather fine already even though GBPUSD has been causing some havocs with a long downtrend lately I will be sure to post my results when I have a longer timeframe of testing done.

I am ofc also intrigued to test the new versions of the EA too in the future and also truly looking forward to see some presets from all us here in the thread. This is certainly something that drives this forward.

So once again... Many thanks for your dedication and support in this Yoriz! Also many thanks to all of the other ones in this thread providing excellent feedback for improvements!

BR

/T
  • #36
  • Oct 1, 2021 4:33am Oct 1, 2021 4:33am
There would be good if the last version of Xmess EA could convert to Mt5. I have better quality data to Test and multipair symbols.
  • #37
  • Oct 1, 2021 7:03am Oct 1, 2021 7:03am
Quoting cescof
one suggestion to add fixed lot size fo entries other then %
No problem. In version 1.30 I added a LotSizing dropdown menu to select either Compounding or FixedSize. Configure value in LotsPer10kEquity respectively FixedLotSize input parameters.

To avoid confusion or human error in the steadily growing list of settings, I decided to prefix the options with letters A, B, etc. to show what input parameters are active depending on the corresponding dropdown selection.
Attached Image

Hope this helps to keep things organized.

As always, see post #1 for the download link.
  • #38
  • Oct 1, 2021 7:12am Oct 1, 2021 7:12am
Quoting yoriz
{quote} No problem. In version 1.30 I added a LotSizing dropdown menu to select either Compounding or FixedSize. Configure value in LotsPer10kEquity respectively FixedLotSize input parameters. To avoid confusion or human error in the steadily growing list of settings, I decided to prefix the options with letters A, B, etc. to show what input parameters are active depending on the corresponding dropdown selection. {image} Hope this helps to keep things organized. As always, see post #1 for the download link.
Thanks for effort,
i've lost meaning of "minscale in pips" is it min pips required from last bar closed to open new trade?
Thanks
  • #39
  • Oct 1, 2021 7:24am Oct 1, 2021 7:24am
Quoting cescof
i've lost meaning of "minscale in pips" is it min pips required from last bar closed to open new trade?
When the market moves against us, we keep opening additional trades in the same direction as the first trade. We do this so the "average" price of the basket of open trades (i.e. the break-even price), keeps moving towards the current market price. This obviously causes a larger market position (=more risk) and causes drawdown.

It only makes sense to add more trades to the basket if this improves the average price. Therefore, we only add a new trade if the market has moved away more than MinScaleInPips since the last trade we opened. If the market is slowly moving back, we don't add more trades and wait until the basket is at break-even (or even in profit if BasketTakeProfitPips is greater than 0).
Attached Image (click to enlarge)
Click to Enlarge Name: MinScaleInPips.png Size: 37 KB
  • #40
  • Oct 1, 2021 7:26am Oct 1, 2021 7:26am
Quoting yoriz
{quote} When the market moves against us, we keep opening additional trades in the same direction as the first trade. We do this so the "average" price of the basket of open trades (i.e. the break-even price), keeps moving towards the current market price. This obviously causes a larger market position (=more risk) and causes drawdown. It only makes sense to add more trades to the basket if this improves the average price. Therefore, we only add a new trade if the market has moved away more than MinScaleInPips since the last trade we opened. If...
Thank ok as I supposed...
Regards
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