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Free Grid EA Ikarus - From zero to hero

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  • #1,481
  • Nov 16, 2021 8:44pm Nov 16, 2021 8:44pm
Quoting fx4money
I have to use my ea to defend other's martingale counter trend ea. easier and safer way is not to use martingale, but there could be way, because price never go in straight line, and using more than 1 ea could be better because to put everything in 1 ea may not be possible, especially when it is a martingale ea.
Yes, it is a correct approach. One can develop an EA for protecting Icarus purpose. The protect EA can monitor Icarus and put opposite orders when Icarus is adding new orders. When the price is bouncing back, the protect EA can close orders grid by grid. With the protect EA, Icarus will never crash because the loss of Icarus can be balanced by the protect EA. Also, the protect EA is an isolated EA, it won't affect the profitability of Icarus. Only thing you have to control well is open and close orders in the protect EA. Note that, the protect EA is not for making profit propose, it serves a protection mechanism for Icarus.
  • #1,482
  • Edited 11:30pm Nov 16, 2021 8:48pm | Edited 11:30pm
Quoting TeChaoLiang
{quote} It is what I mentioned, hedging cannot solve the problem. When the price continue going down the hedging orders only keep the loss in a constant speed. Eventually, soon or later, the EA will crash. Theoretically and logically, hedging mechanism cannot be added into an against-trend grid trading EA (Icarus) to make it safer or better. If hedging could be a solution to prevent Icarus from crashing, I would have coded hedging mechanism into Icarus and that will makes Icarus a Holy grail EA. As we already know, there is no Holy grail EA exist....
It is better to have two cylces (a) with the trend (b) against-trend. And allow weight to be given for each cycle.
With the trend can use from 50% to 100% of quantity lots based on your own directional bias
At the same time you may input from 0% to 50% lots for against the trend.
Using both cycles in proportionate lots will act as natural hedging.
It works well for futures traders to have facility for two symbols and quantity in the EA connected with each of the two cycles. Profit or Exit for each cycle has to be there as well.

If you want to use two symbols of same contract. Example both SP500 ES (mini ) and MES (micro) futures have different symbols but can work as natural hedge.
ES (with tick value of 1) can be with the trend and MES(10) can be for selling. In such a case you will utilise single margin of ES and thus hedging will be in effect.
It will require skills of trading. With the Trend (for instance use it at support level) and Against the trend (say resistance level) , you may see the progress for sometimes before closing the cycle with profit and bank upon the other cycle to work as per your own bias.

Indicators can't provide you bias. This is your own skill of entering and exiting trades that will determine the profitabilty.

Why EA then? Because it executes trades expeditiously and saves lot of time in manually entering trades and does not allow you to be fickle minded and helps stick to your strategy.
Practice makes a person perfect
  • #1,483
  • Nov 16, 2021 9:39pm Nov 16, 2021 9:39pm
Quoting Jippykaze
{quote} my modification only create order only on new candle, not related with the grid
i prefer to use this version, new trade open on new candle, is your modification completed?
LUCKY golden trades, LUCKY gold investor trading style
  • #1,484
  • Nov 17, 2021 7:39am Nov 17, 2021 7:39am
Quoting TeChaoLiang
{quote} I would add nothing to Icarus. It is a truth that against the trend and hedging are mutually exclusive, they can not be both exist. So, (against the trend, hedging) is a ridiculous requirement. I can, but I won't code hedging into Icarus for the purpose of refining Icarus. So far, I didn't see any sound and effect idea on this thread that can add hedging into Icarus to make it better.
What would you think about a logic, linking starting volume of a cycle to ATR?
Green pips 2 all of us!
  • #1,486
  • Edited Nov 19, 2021 12:54am Nov 18, 2021 1:43am | Edited Nov 19, 2021 12:54am
To protect all trades of Icarus I'm using Swiss Army EA just simply to adjust the Stop Loss for each trade (for example 500). So far this is successful strategy for me.
I am a big fan of Grid trading, so I would like to ask someone who can reverse the strategy of Icarus 2.2 in order to place Buys when the price going up and Sells when the price going down. I have used such EA in MT5, the result was good but ofcourse like expected the account was blown. The Icarus looks very stable ea, so I'd like to experiment in this way.
Thanks in advance and happy trading.
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  • #1,487
  • Nov 18, 2021 2:42am Nov 18, 2021 2:42am
Hi @MaPi
Due to EU's big downward moves in this week, my account would have blown up if I hadn't used hedge (which I made a little loss but was able to save the account t least)
I noticed in your trades that you haven't faced any inconvenience as your history shows.
Do you mind sharing your key to this success? If it is your settings it would be more than helpful if you can share it. Otherwise no push you have done many to the community.
  • #1,488
  • Nov 18, 2021 3:21am Nov 18, 2021 3:21am
Quoting MaPi
{quote} What would you think about a logic, linking starting volume of a cycle to ATR?
Well, ATR only dynamically determine the grid size, and the grid size is related to the virtual SL of Icarus. However, starting volume, I think, should depend on your account balance. Starting volume seems independent of the grid size.
  • #1,489
  • Nov 18, 2021 3:31am Nov 18, 2021 3:31am
Quoting benson72
I would like to ask someone who can reverse the strategy of Icarus 2.2 in order to place Buys when the price going up and Sells when the price going down.
The original Icarus does not has a specific strategy for entering the market. The later version of Icarus I added several indicators for choosing to trigger a trade, that is, initiate a buy/sell cycle. You can use these indicators to arrange Icarus initiate a buy cycle when price going up as well as initiate a sell cycle when price is going down.
  • #1,490
  • Nov 18, 2021 4:58am Nov 18, 2021 4:58am
Quoting benson72
To protect all trades of Icarus I'm using Swiss Army EA just simply to adjust the Stop Loss for each trade (for example 500). So far this is successful strategy for me. I am a big fan of Grid trading, so I would like to ask someone who can reverse the strategy of Icarus 2.2 in order to place Buys when the price going up and Sells when the price going down. I have used such EA in MT5, the result was good but ofcourse like expected the account was blown. The Icarus looks very stable ea, so I'd like to experiment in this way. Thanks in advance and...
Hi, in Icarus 4 you have this allready, when inverting bollinger bands, cheers
Green pips 2 all of us!
  • #1,491
  • Nov 18, 2021 5:11am Nov 18, 2021 5:11am
Quoting Farzad666
Hi @MaPi Due to EU's big downward moves in this week, my account would have blown up if I hadn't used hedge (which I made a little loss but was able to save the account t least) I noticed in your trades that you haven't faced any inconvenience as your history shows. Do you mind sharing your key to this success? If it is your settings it would be more than helpful if you can share it. Otherwise no push you have done many to the community.
Hey,

as reported I was liquidated mid of year, so I would not say everything was running smoothly, but I was able to recover and trading know on equity all time high this year...

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The last drop in EURUSD did not effect me, due to the fact I softened my setting in reducing starting volume of my cycle (was staring with 0.10, since september staring with 0.05 lot). I still trade on a beta version of my old coder but with Ikarus 4 you can more or less have the same settings...(grid progression is 1)...

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I am trading on a 1:400 levergae, equity is currently 13kish, Spread ist about 0.04 pips in average, very good swap rates (getting paid for short in EURUSD e.g.) and zero margin for hedges.

Cheers
Green pips 2 all of us!
  • #1,492
  • Nov 18, 2021 5:25am Nov 18, 2021 5:25am
What about only one direction trade. For example: I have EG 500 pips up target and also 200s pips correction is possible (I'm sure that it will go up). So only buy. Will it make the EA more profitable?
Will it save from collapses?
Any ideas?
  • #1,493
  • Edited 6:57am Nov 18, 2021 5:50am | Edited 6:57am
Quoting MaPi
{quote} Hey, as reported I was liquidated mid of year, so I would not say everything was running smoothly, but I was able to recover and trading know on equity all time high this year... {image} The last drop in EURUSD did not effect me, due to the fact I softened my setting in reducing starting volume of my cycle (was staring with 0.10, since september staring with 0.05 lot). I still trade on a beta version of my old coder but with Ikarus 4 you can more or less have the same settings...(grid progression is 1)... {image} I am trading on a 1:400...
I appreciate your generosity. Thank you, bro.
About spread you meant 0.4 pip, right? I remember you said that you had a business account on your broker, but 0.04 pip spread seems dreamy to me

I use higher tp and that was an issue in such case of the last big movement. Apart from that, you use RSI High and Low on 49 and 51 which is interesting to me, and will tweak that as well to identify the market condition and avoid big moves.

One thing that was irritating, I had 4 orders opened on a huge candle on Nov 10th which was the candle on which the Long cycle (the worst) initiated by hitting the lower BB and it caused 4 first positions including 1 , 1 , 2 , 3 Lot positions to be triggered in less than 2 minutes.
An idea to avoid such behaviour is to prevent the EA from opening a certain number of orders (let's say 1) on a single candle, in order to stay safer in savage markets as much as possible.

Traders and subscribers, all contribution is definitely appreciated.
  • #1,494
  • Nov 18, 2021 8:00am Nov 18, 2021 8:00am
Quoting Ihlas
What about only one direction trade. For example: I have EG 500 pips up target and also 200s pips correction is possible (I'm sure that it will go up). So only buy. Will it make the EA more profitable? Will it save from collapses? Any ideas?
Hi this is easy to achieve by choosing in the EA "Long only" or "Short only"...Cheers
Green pips 2 all of us!
  • #1,495
  • Nov 18, 2021 8:06am Nov 18, 2021 8:06am
Quoting Farzad666
{quote} I appreciate your generosity. Thank you, bro. About spread you meant 0.4 pip, right? I remember you said that you had a business account on your broker, but 0.04 pip spread seems dreamy to me I use higher tp and that was an issue in such case of the last big movement. Apart from that, you use RSI High and Low on 49 and 51 which is interesting to me, and will tweak that as well to identify the market condition and avoid big moves. One thing that was irritating, I had 4 orders opened on a huge candle on Nov 10th which was the candle on which...
In the new version I would use the RSI on a higher timeframe like H1, also it is interesting to invert it e.g. 40/60, so you will not start contra trading in bigger trend moves...

I mentioned a wile ago a function "tic up & down", so when we trigger a sell order it will wait for a down tick to execute preventing the EA for opening multiple orders in a fast market. Also we could think about an option setting x executions per candle, but we need to find a logic how oders will be handled if they are blocked by that rule...There are still so many things (OUTSIDE FROM HEDGING) we can bring in, so from my point of view I am very happy about all the progress we made so far but no, we are not finished yet...

Yep, my broker normaly offers 0.02 Pips + 6€/Lot or 0.08 pips, but after trading more than 584 lots starting with 5k deposit I had a good position to negotiate...So now I can choose between 0.02 + 3€/Lot or 0.04 without com, giving me an easy choice

Cheers
Green pips 2 all of us!
  • #1,496
  • Nov 18, 2021 8:07am Nov 18, 2021 8:07am
Quoting MaPi
{quote} Hi this is easy to achieve by choosing in the EA "Long only" or "Short only"...Cheers
Hi,
Yes, I know. I wanted to say that human analysis may make the EA more profitable and not to blow the account. Obviously it depends on the capability of market understanding and analysis.
  • #1,497
  • Nov 18, 2021 8:07am Nov 18, 2021 8:07am
Quoting Reking86
I have recently joined the forum and I must say that you are magnificent, I am testing various settings, but if you give me a help I would appreciate it.I have a cent account with leverage 1.1000
Welcome and thank you,

A cent account on that leverage should suit Icarus well If you have any question you are more than welcome,

From next week on I will be on vacations for 4 weeks (some Poker and some carebean feelings), I will use my free time to prepare a project for next year where I will start a Youtube channle or Facebookgroup to cover my Icarus trading + FX + Knowledge beginning next year.

Cheers
Green pips 2 all of us!
  • #1,498
  • Nov 18, 2021 8:19am Nov 18, 2021 8:19am
Quoting Ihlas
{quote} Hi, Yes, I know. I wanted to say that human analysis may make the EA more profitable and not to blow the account. Obviously it depends on the capability of market understanding and analysis.
Absolutly agreed, this is the reason we created the hot buttons so if you have a opinion on the market you can adjust EA... Cheers
Green pips 2 all of us!
  • #1,499
  • Edited 8:27am Nov 19, 2021 8:09am | Edited 8:27am
Quoting Reking86
¿podría proporcionarme una configuración óptima para una cuenta de 1.1000 centavos ???
Hi. The best configuration is the one you are most comfortable with, between the profit and the maximum loss you are willing to accept. Icarus is mainly intended for reversal or counter trend trading. There is no 100% profit setup, because sooner or later, the market can blow up your account.

My advice is to "play" with Ikarus. Open several demo charts, and on each one give it a different configuration and note how it behaves, it is a learning curve that you must go through, if you want to be profitable. Success!

My comment is based on my own experience and the way I trade, which is in strong and important zones, and I go only in buy or sell. I do not use the internal indicators, maybe someone else can give you some configuration to use the indicators, if that is what you intend to use.
  • #1,500
  • Nov 20, 2021 12:27pm Nov 20, 2021 12:27pm
@MaPi @TeChaoLiang @Farzad666 and others interested. I have a suggestion to get out of trouble (when the account, in my case to open many orders) and that I usually implement.

It is based on closing the FIRST profitable orders, with the FIRST losing orders, and the last order that goes in profit I leave it open. Why do I do this? Because many times, the market is only making a small reversal (and not a change of trend), and then continue to be overbought or oversold, if I read that it is only a small reversal, then I close the profitable orders, with the first losing orders. By eliminating the losing orders, I can lock in profits with the last one or two orders that go into profit. Sometimes I get it wrong and the market ends up going even more in my advantage, so the previous losing orders would have been recovered, but I prefer to make sure that if the price goes against me again, the previous losing orders are not even more losing.

I know that many use the internal indicators and trade both ways, but I also think that you can implement it in your way of trading, for example, closing sales when you have buys at profit. But the idea is to leave the last or the last and second to last orders with more profit open, because otherwise it would not make sense.

You could execute the closings, when you reach a certain amount of open orders, or when you reach a negative % in the account...etc. And then stop closing when you have closed X amount of orders or when you have recovered from the negative %.

I hope you get the idea. I don't currently have a real situation where I need to remove orders. But, the attached screenshot is just an example that I drew, for better understanding of how I do it.

Success!
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