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Free Grid EA Ikarus - From zero to hero

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  • #2,001
  • Edited 12:15pm May 5, 2022 11:59am | Edited 12:15pm
Quoting Umberleigh
{quote} Hi ThangNguyen, I have a slightly different perspective on how your EMA could be used as a component of Icarus. It seems to me that Icarus is a fantastic tool for collecting profits when market action provides frequent pullbacks within ranges or trends. In this environment, we can run Icarus in both directions, all the time, with success. The problem is the potential trend that comes along (rather frequently) without sufficient pullbacks to allow Icarus to close out trades in profit. What if we use your EMA trend filter to step in around...
Hi Umberleigh,
I understand your opinion but please correct me if I am wrong.
EMA or all other trend indicators calculate trends based on past prices. If you already trade and the new strong trend comes up against you, there is no way to close those trades profitable without sufficient pullbacks. When the first trade against the trend keep losing money and keep opening new order to cover it and lose more, the opposite trades that follow the trend are already close in profit one by one. Nothing there to balance the loss.
The only 2 options here are to enable "Hedge order to balance" or close losing trades to protect the account if the trend is too steep.
Hedge order to balance is an option with a cost of high risk because you will have more big lot trade on the table.
  • #2,002
  • May 5, 2022 12:45pm May 5, 2022 12:45pm
Quoting ThangNguyenM
{quote} Hi Umberleigh, I understand your opinion but please correct me if I am wrong. EMA or all other trend indicators calculate trends based on past prices. If you already trade and the new strong trend comes up against you, there is no way to close those trades profitable without sufficient pullbacks. When the first trade against the trend keep losing money and keep opening new order to cover it and lose more, the opposite trades that follow the trend are already close in profit one by one. Nothing there to balance the loss. The only 2 options...
Hi ThangNguyen,

Yes, I think you are correct. In my mind, the "with the trend" entries that are based on your EMA would not act exactly as a hedge, but would instead act independently, as it would close the "with the trend" EMA trades based on the EMA readings irrespective of the "counter-trend" losing trades. Any profit earned by the "with the trend" EMA trades would accrue to the TP calculation, thereby allowing the entire group of trades to be closed out quicker.

Umberleigh
  • #2,003
  • May 5, 2022 1:19pm May 5, 2022 1:19pm
Quoting Umberleigh
{quote} Hi ThangNguyen, Yes, I think you are correct. In my mind, the "with the trend" entries that are based on your EMA would not act exactly as a hedge, but would instead act independently, as it would close the "with the trend" EMA trades based on the EMA readings irrespective of the "counter-trend" losing trades. Any profit earned by the "with the trend" EMA trades would accrue to the TP calculation, thereby allowing the entire group of trades to be closed out quicker. Umberleigh
Do you mean a revenge trade? A revenge trade to cover that loss must be a very big lot. And push the risk further. What if the market turns around right after the revenge trade is open?
I have tried the revenge strategy before, but my experience was not good.
  • #2,004
  • Edited May 6, 2022 9:53am May 5, 2022 1:22pm | Edited May 6, 2022 9:53am
Quoting ThangNguyenM
{quote} In theory, This is what the setting " Hedging Order to balance" does. you can give it a try.

If I'm not mistaken Hedging recovery system open oposite trades to the current ones to help to take advantage of the trend and try to close orders with profit, what I was talking about is to use the common pull backs of the trend your trades are in and use them to close the oldest orders so, even in the case you are in a strong trend against your initial trade, you still have the chance to recover, you only need to find a strong enogh pull backs.

I have attached another pick, the green circles are zones where you could close trades with enough profit to compensate some of the losing ones, and the red zone where new trades will be opened again as the price resumes its trend after the pull back, then with those new trades, but with less losing ones to compensate, you have better chances to end the whole cycle with profit
Attached Image (click to enlarge)
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  • #2,005
  • May 5, 2022 2:00pm May 5, 2022 2:00pm
Quoting ThangNguyenM
{quote} Do you mean a revenge trade? A revenge trade to cover that loss must be a very big lot. And push the risk further. What if the market turns around right after the revenge trade is open? I have tried the revenge strategy before, but my experience was not good.
I'm not familiar with the "revenge trade". The goal of this "with the trend" trade(s), would simply be to lessen the burden of reaching the TP required to close out the group of trades. The lot size would not have to be equal to the "counter-trend" losing trades. It could be 50% or 25%. Worst case scenario would be that the market turns around before the EMA signals an exit. This would create a manageable loss instead of allowing an account threatening trend to blow up the account.
  • #2,006
  • May 6, 2022 2:35am May 6, 2022 2:35am
@Leeoo,
Currently, The hedging system opens new big lot trade on both sides at the same time when you reach the max position. Then it tries to thin out the old trade to reduce drawdown while waiting for a big pullback or trend change. because it opens both side trades, I find out sometimes makes it harder to close all losing trades.

About what you talking about trying to close some trade at the pullback, it is what "Thin out the grid" does, right?

I see the problem here is the grid size currently is not based on the pullbacks signal. If we can make it only open the next grid trade on the pullback signal, we will have a better chance to close those trades.

@Umberleigh,
I understand what you mean, but for now, I think if we can change the algorithm of the grid size as I told above to Leeoo, we can have a better chance and less risk.

If we try to do so, how can we identify a potential pullback signal?
What do you guys think?
  • #2,007
  • May 6, 2022 11:49am May 6, 2022 11:49am
Quoting NguyeThangnM
@Leeoo, Currently, The hedging system opens new big lot trade on both sides at the same time when you reach the max position. Then it tries to thin out the old trade to reduce drawdown while waiting for a big pullback or trend change. because it opens both side trades, I find out sometimes makes it harder to close all losing trades. About what you talking about trying to close some trade at the pullback, it is what "Thin out the grid" does, right? I see the problem here is the grid size currently is not based on the pullbacks signal. If we can make...
ThangNguyen,

I think that may be a great idea. So let me see if I understand you correctly.

-Enter the first trade via your EMA Trend Filter signal (with the trend).
-Average in with the second trade based on a pullback signal (generated by another indicator)
-This idea would keep us at the point of making each trade useful and relevant instead of just randomly adding new positions based on distance.
-Each "averaging" trade would give us the legitimate chance to ride a pullback to profitability based on a high quality pullback signal.

Is this basically correct?
  • #2,008
  • May 6, 2022 12:30pm May 6, 2022 12:30pm
Quoting Umberleigh
{quote} ThangNguyen, I think that may be a great idea. So let me see if I understand you correctly. -Enter the first trade via your EMA Trend Filter signal (with the trend). -Average in with the second trade based on a pullback signal (generated by another indicator) -This idea would keep us at the point of making each trade useful and relevant instead of just randomly adding new positions based on distance. -Each "averaging" trade would give us the legitimate chance to ride a pullback to profitability based on a high quality pullback signal. Is...
Yes, you get it right Umberleigh.

Changing the second trade position not based on grid size may be too complicated for me. But I will see what I can do. This means we are touching the main algorithm and this one may be no longer a grid EA .

Here I have made an upgrade version for EMA trend. I added Option Mode to it.
Mode - Following: Only open trade with the trend, and the current trend is stronger than the trend filter level.
Mode - Avoid Counter: Allow both directions to trade if the current trend is weaker than the trend filter level. If the current trend becomes stronger than the filter level, the opposite trade won't open.
I also add comments about trend settings to make backtest easier.

While I am forcusing on coding new algorithm changes. you guys can test this version first. Don't forget me if you find something good.
Attached File(s)
File Type: ex4 Ikarus_4.77_EMA trend.ex4   204 KB | 857 downloads
  • #2,009
  • May 6, 2022 3:19pm May 6, 2022 3:19pm
Quoting ThangNguyenM
{quote} Yes, you get it right Umberleigh. Changing the second trade position not based on grid size may be too complicated for me. But I will see what I can do. This means we are touching the main algorithm and this one may be no longer a grid EA . Here I have made an upgrade version for EMA trend. I added Option Mode to it. Mode - Following: Only open trade with the trend, and the current trend is stronger than the trend filter level. Mode - Avoid Counter: Allow both directions to trade if the current trend is weaker than the trend filter...

Excellent thinking! You're right...Mapi might get you for what could be a "non-grid" suggestion However, even though the grid distance is affected under your plan, the grid based lot size might not be. You may need to keep the grid based lot sizing in order to have the fire power to ride the pullback all the way back to profitability.
We'll see.
  • #2,010
  • May 7, 2022 10:01am May 7, 2022 10:01am
Quoting MaPi
Hey guys, hope you are doing fine! Just started opening yesterday a short position with EA in S&P500,
I don't understand why my EA don't work on sp500... there's a special setting?? It doesnt open a single operation...
  • #2,011
  • Edited 5:58am May 8, 2022 4:30am | Edited 5:58am
Quoting ThangNguyenM
1. Fix Restricted working time function: The last one does not work properly
Hi Thang, can you please provide what changes you made, because you didnt publish the mq4 file.




Quoting argo2020
{quote} I don't understand why my EA don't work on sp500... there's a special setting?? It doesnt open a single operation...
Probably depends on your brokers lot size - try 1.0 lot (in demo plz)



PS: Stats from Icarus NQ Breakout strategy
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-05-08 12_56_49-FXFlat _ Myfxbook.png Size: 1 KB
  • #2,012
  • May 8, 2022 5:09am May 8, 2022 5:09am
Hi thangnguyen.
What indicator you use to detect pullback when you open the second trade.
  • #2,013
  • May 9, 2022 8:59pm May 9, 2022 8:59pm
Quoting ThangNguyenM
{quote} Yes, you get it right Umberleigh. Changing the second trade position not based on grid size may be too complicated for me. But I will see what I can do. This means we are touching the main algorithm and this one may be no longer a grid EA . Here I have made an upgrade version for EMA trend. I added Option Mode to it. Mode - Following: Only open trade with the trend, and the current trend is stronger than the trend filter level. Mode - Avoid Counter: Allow both directions to trade if the current trend is weaker than the trend filter...
First half day of live demo trading with your EMA Trend Filter leading the way. This is based on the EURUSD H1

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
  • #2,014
  • Edited 10:57pm May 9, 2022 10:04pm | Edited 10:57pm
Hi Everyone,
Thanks to all the contributors to this thread. I have been testing the different versions with some success but am still not clear on how the "Take Profit" and "Profit Lock" settings work.
From the original post:
take_profit: Setting for securing profit of the cycle with a trailing stop.
profit_lock: Percentage of profit secured by trailing stop.
I had assumed that "take profit" was the aggregate profit in account currency at which the trailing stop was triggered and "profit lock" was the percentage of that profit that was then locked once triggered.
So, for example, if the settings were 20 and 50% respectively, then when profit for all open orders for that pair hit say $20 and a trailing stop would be started at $10 ($20 x 50%).
However, I have not been able to replicate this in practice.
Also, I am unclear how the trailing stop actually trails the price i.e. trailing step.
Can someone please confirm how these settings work?
Many thanks
  • #2,015
  • May 10, 2022 7:42am May 10, 2022 7:42am
Quoting Umberleigh
{quote} Excellent thinking! You're right...Mapi might get you for what could be a "non-grid" suggestion However, even though the grid distance is affected under your plan, the grid based lot size might not be. You may need to keep the grid based lot sizing in order to have the fire power to ride the pullback all the way back to profitability. We'll see.
First full day of live demo trading with your EMA Trend Filter leading the way. EURUSD H1
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
  • #2,016
  • May 10, 2022 9:26am May 10, 2022 9:26am
Quoting Umberleigh
{quote} First full day of live demo trading with your EMA Trend Filter leading the way. EURUSD H1 {image}
Looks very promising Umberleigh,
Did you backtest it? How does it perform in long run?
I have sent you a private message. Please check
  • #2,017
  • May 10, 2022 11:59am May 10, 2022 11:59am
Quoting ThangNguyenM
{quote} Looks very promising Umberleigh, Did you backtest it? How does it perform in long run? I have sent you a private message. Please check
It seems to me that your EMA Trend Filter and also the Grid Partial Close is having a positive impact on Ikarus' performance. So far, market behavior has been favorable. We'll how these settings handle a more challenging market environment on the course of the week.
  • #2,018
  • May 10, 2022 2:43pm May 10, 2022 2:43pm
-Maybe use the EMA Trend filter to select the direction of the initial trade...and keep the first 3 or 4 trades based on grid progression...then bring in the EMA Trend Filter again to handle the 5th, 6th 7th trades...etc., as a featured option. The idea here is to make sure that we are entering these higher level trades at critical points that give us the best chance of exiting the cycle successfully.

-It would be cool to have an option that would allow us to initiate a "pyramiding with the trend" feature (as opposed to "averaging with the trend) to help deal with certain problematic market behavior. This would allow Ikarus to average and pyramid simultaneously.
  • #2,019
  • May 10, 2022 4:05pm May 10, 2022 4:05pm
Quoting Umberleigh
{quote} Excellent thinking! You're right...Mapi might get you for what could be a "non-grid" suggestion However, even though the grid distance is affected under your plan, the grid based lot size might not be. You may need to keep the grid based lot sizing in order to have the fire power to ride the pullback all the way back to profitability. We'll see.
Hi, I might be quite but I still am around and like the discussion you guys are having. If you change the logic of Icarus and it will help stabilizing I am open to it.

Cheers
Green pips 2 all of us!
  • #2,020
  • May 10, 2022 9:26pm May 10, 2022 9:26pm
Quoting Umberleigh
{quote} First full day of live demo trading with your EMA Trend Filter leading the way. EURUSD H1 {image}
Thats Drawdown amazing, how long you back test it bro ?
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