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  • #1,721
  • Jan 17, 2022 12:12pm Jan 17, 2022 12:12pm
Quoting romiek
{quote} Hello all i am new here. Thank you for a great EA Mapi. I am a programmer for over 15 years and forex EA builder for 2+ years. I will take a copy of Ikarus and play with it. I like this idea hedging..of mr trader, but i have few questions.. When should the first hedge order start? after how many pips down of the last max trade? What do we do with 6 buy positions and 1 sell when market goes down again? account can blow up easy this way.. Hope we can make a great EA together.
Welcome, I think we wrote allready on YT...

I asked Mr. Trader to rejoin the discussion, hope he will reply soon, pretty sure he has allready progressed on his initial plan...

Cheers!
Green pips 2 all of us!
  • #1,722
  • Jan 17, 2022 6:39pm Jan 17, 2022 6:39pm
Can you please explain to me or guild me to a link of the post so I can understand the hedge function or the idea about version 4.0.4 beta please
I want to collect some ideas so we can find the best hedge idea or settings
  • #1,723
  • Jan 17, 2022 10:00pm Jan 17, 2022 10:00pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20220118-044755_TeamViewer.jpg Size: 531 KB

Backtest for Gold. DD only with some marketmover. If I switchoff before the max DD is max 500$...
  • #1,724
  • Jan 18, 2022 5:08am Jan 18, 2022 5:08am
OK an update on my test running ICarus on all 28 pairs simultaneously with a view to using it for prop firms, I have been running it on FTMO trial accounts.
Settings (basic) were:
Bollinger off
Stoch on at 20/80
RSI on at 20/80
Initiate both cycle off.
Grid multiplier D'Alembert
Lot size multiplier Fibonacci.

It generated very good profit with very low drawdown normally, however the week before last got caught in a couple of pairs when the JPY collapsed and last week/this week has got caught in 2 CAD pairs where the CAD has rocketed due to the price of oil increasing suddenly - both instances caused the 5% drawdown limit to be breached.

I have set it running again in this latest test with Bollinger turned on, I initially turned it off as from testing the MT5 version of Icarus the Bollinger over ruled the other 2 indicators - but it then became evident that the MT5 code translation was flawed so I don't think this will be an issue with the original MT4.

Couple of ideas for additions/amendments:
a) Invert trigger - at the moment this seems to just do the opposite of the signal, so if it's activated instead of opening trades when the 20/80 bars are breached it will open trades when the price is within the 20-80 range.
I think perhaps an alternative/addition would be to invert the direction of trade when in one-directional trade mode. So at the moment for instance when the 80% line is breached it opens a sell as it is expecting the price to bounce back below. How about an option to invert this so if the threshold line is breached it instead opens a trade in the same direction to trade with the momentum of the price?
b) A chart based stoploss centered on the "P/L Sym" figure so if Icarus is running on multiple charts and one chart starts to get away past a user defined amount ($100 or so for example) then at a certain point the trades on the pair are closed as a safety measure and the loss is taken while allowing the other pairs to continue trading.
  • #1,725
  • Jan 18, 2022 5:45am Jan 18, 2022 5:45am
Quoting snowdonred
ok an update on my test running icarus on all 28 pairs simultaneously with a view to using it for prop firms, i have been running it on ftmo trial accounts. Settings (basic) were: Bollinger off stoch on at 20/80 rsi on at 20/80 initiate both cycle off. Grid multiplier d'alembert lot size multiplier fibonacci. It generated very good profit with very low drawdown normally, however the week before last got caught in a couple of pairs when the jpy collapsed and last week/this week has got caught in 2 cad pairs where the cad has rocketed due to the price...
happy to know that its work on multipair, is it possible to share set file for review of setting. Pl do reply
  • #1,726
  • Jan 18, 2022 6:56am Jan 18, 2022 6:56am
Quoting d.dalal333
{quote} happy to know that its work on multipair, is it possible to share set file for review of setting. Pl do reply
Not really as I have no reliable set file as of yet but I have given the bones of the settings in my post anyway so it's not hard to dulpicate for your own testing.
  • #1,727
  • Jan 18, 2022 11:06pm Jan 18, 2022 11:06pm
Quoting snowdonred
OK an update on my test running ICarus on all 28 pairs simultaneously with a view to using it for prop firms, I have been running it on FTMO trial accounts. Settings (basic) were: Bollinger off Stoch on at 20/80 RSI on at 20/80 Initiate both cycle off. Grid multiplier D'Alembert Lot size multiplier Fibonacci. It generated very good profit with very low drawdown normally, however the week before last got caught in a couple of pairs when the JPY collapsed and last week/this week has got caught in 2 CAD pairs where the CAD has rocketed due to the price...
Are you using ATR?
  • #1,728
  • Edited 5:30am Jan 19, 2022 4:26am | Edited 5:30am
Quoting francis79
{quote} Are you using ATR?
No I have not played with that setting yet. I have not really looked at ATR so want to research and understand it fully for myself before I start experimenting with it.

Update on activating Bollingers - reduced the number of trades taken by about 20x with ASK/BID setting, have set it running with HIGH/LOW instead to see if that still restricts but if it does I will be turning Bollinger back off for the next test run.

I will wait until this FTMO trial is over and the final figures are in. However I *think*, had there been a stop loss of, say, $400 per chart it would have stopped these 2 CAD pairs getting mired in drawdown (I don'ty remember seeing any other chart going anywhere near that figure into the negative). They would have closed off at a combined loss of $800 but Icarus will still have made enough profit in the period to pass the required profit target and keep drawdown to about 2-3%, the previous test where it got stuck with two JPY pairs would have definitely passed. Either way it would have protected the 5% drawdown from being breached and ended up with a free re-try on a proper challenge, which you get if you don't pass the profit target but also don't breach 5% drawdown.

Next test run will be with keeping an eye and trying to manual pull the plug on any chart than goes more than $xxx in negative, using the stop/close button already featured in Icarus, hopefully in good time. I do think there is great potential here for Icarus to do well with prop trading though.
  • #1,729
  • Jan 19, 2022 6:32am Jan 19, 2022 6:32am
Quoting snowdonred
{quote} No I have not played with that setting yet. I have not really looked at ATR so want to research and understand it fully for myself before I start experimenting with it. Update on activating Bollingers - reduced the number of trades taken by about 20x with ASK/BID setting, have set it running with HIGH/LOW instead to see if that still restricts but if it does I will be turning Bollinger back off for the next test run. I will wait until this FTMO trial is over and the final figures are in. However I *think*, had there been a stop loss of,...
Hey, just to make sure, you are aware the EA has a Stop Out function based on % allready implemented, right? Cheers
Green pips 2 all of us!
  • #1,730
  • Jan 19, 2022 6:41am Jan 19, 2022 6:41am
Quoting MaPi
{quote} Hey, just to make sure, you are aware the EA has a Stop Out function based on % allready implemented, right? Cheers
Yes but isn't that global (based on overall account drawdown) as opposed to "per chart/pair" drawdown?
  • #1,731
  • Jan 19, 2022 7:48am Jan 19, 2022 7:48am
Quoting snowdonred
{quote} Yes but isn't that global (based on overall account drawdown) as opposed to "per chart/pair" drawdown?
Hmmm, I practise I do not use it but you might be right. There is an free EA called Equity Sentry v1.4, I think there you can set it up per magic number...

Cheers
Green pips 2 all of us!
  • #1,732
  • Jan 19, 2022 9:41am Jan 19, 2022 9:41am
Quoting MaPi
{quote} Hmmm, I practise I do not use it but you might be right. There is an free EA called Equity Sentry v1.4, I think there you can set it up per magic number... Cheers
Could do but just as easy to get it written into the code as the calculations are already there, it would just need linking up to a hard stop option.

I realise the orignal intent was for Icarus to only operate on a single chart at a time but it works really well on multiple charts, indeed one of those 2 CAD trades has just closed out in profit and the other isn't far off - though the 5% drawdown was breached in the trial sadly.

My second run with bollinger set to HIGH/LOW and ATR grid is performing OK this morning though I am a little concerned about how quickly the ATR opens additional positions, we shall see how that handles a sustained swing...
  • #1,733
  • Jan 19, 2022 2:09pm Jan 19, 2022 2:09pm
I added buy or sell cycle risk parameters. Will only stop that cycle buy or sell. Other cycle of the symbol will continue. Based of Icarus 4.31.
Attached File(s)
File Type: mq4 Icarus_4.32.mq4   251 KB | 457 downloads
  • #1,734
  • Jan 19, 2022 3:53pm Jan 19, 2022 3:53pm
Can we add hedging order after x number cycle order which will be closed when new cycle order openned or when the cycle closed with a little profit.
  • #1,735
  • Jan 19, 2022 3:59pm Jan 19, 2022 3:59pm
İt has already coded on icarus 4.03 version but with no closing option.
Attached Image (click to enlarge)
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https://assets.faireconomy.media/images/attach/ex4.gifIcarus_4.0.3_beta.ex4
  • #1,736
  • Jan 19, 2022 4:31pm Jan 19, 2022 4:31pm
Quoting falanca
Can we add hedging order after x number cycle order which will be closed when new cycle order openned or when the cycle closed with a little profit.
i am busy with hedging now.. when i get it correct i will post it. need feedback of mr trader tho.
  • #1,737
  • Jan 19, 2022 8:35pm Jan 19, 2022 8:35pm
Quoting romiek
{quote} i am busy with hedging now.. when i get it correct i will post it. need feedback of mr trader tho.
Will patiently wait for your update.
  • #1,738
  • Jan 19, 2022 8:39pm Jan 19, 2022 8:39pm
Quoting snowdonred
{quote} Could do but just as easy to get it written into the code as the calculations are already there, it would just need linking up to a hard stop option. I realise the orignal intent was for Icarus to only operate on a single chart at a time but it works really well on multiple charts, indeed one of those 2 CAD trades has just closed out in profit and the other isn't far off - though the 5% drawdown was breached in the trial sadly. My second run with bollinger set to HIGH/LOW and ATR grid is performing OK this morning though I am a little concerned...
since you are using multiple charts, how much money are you allocating for each currency pair? Example: if you have 10 pairs on different charts, would 10,000 dollars suffice for a .1 lot size per currency pair? I know it will depend on your settings, but i just want to know if you look at your money management this way…

I have tried it with 3 pairs in forward testing.
  • #1,739
  • Jan 20, 2022 1:19am Jan 20, 2022 1:19am
Found a significant bug in the ATR grid routine.

It seems to stop increasing the grid past a certain price and then when the price hits that target each time the EA still opens a progressive lot size trade according to the lot size multiplier that is set. Had it happen twice overnight on CADCHF and also USDJPY when the price moved against the trade.
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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You can see in the second list of trades above USDJPY grid price stopped increasing somewhere between 113.328-113.334 and in the attached chart below you can see all the additional positions that were opened as the price moved down and back up past the target price in the same 1M candle.
Attached Image (click to enlarge)
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The USDJPY eventually went as far as a 197.0 lot trade (from an initial 0.20 lot start) before closing out in profit but this is an account blowing error and I'd advise the ATR grid option not be used until it is resolved. Of course this can be avoided by setting a limit on the number of positions the EA will open to about a max of 6 however but that comes with the risk that a trade will not close out in profit very quickly.
  • #1,740
  • Jan 20, 2022 1:23am Jan 20, 2022 1:23am
Quoting francis79
{quote} since you are using multiple charts, how much money are you allocating for each currency pair? Example: if you have 10 pairs on different charts, would 10,000 dollars suffice for a .1 lot size per currency pair? I know it will depend on your settings, but i just want to know if you look at your money management this way… I have tried it with 3 pairs in forward testing.
I am runnning on a $50k FTMO trial account and have an initial lot size of 0.20 lots. This is generating a little more than the daily required profit for the target so can probably be decreased to 0.15 though testing is very much in its infancy & I am waiting for the current trial to close so I can work out if the max drawdown would not have been hit with a 0.15 lot opening setup, as it has been with 0.20 lots.
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