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ZigZag - Keep It Simple Stupid

  • #41
  • May 23, 2022 8:30am May 23, 2022 8:30am
continued my first post.

and if previous m15 bar HL is small less then 10 pips we set STOP LOSE to next previouse bar. I just think trade should be managed little. Dont know if will work better but can test
  • #42
  • May 23, 2022 8:30am May 23, 2022 8:30am
Quoting Arch1
Hi all! I just started follow this system. Can we get better results if stop lose get moved when half target reach from TP point? Exemple: we open trade risk:reward 1:1 (20pips) Stop is placed previous m15 bar HL. When trade moved to +10 pips we adjust Stop lose from -20 to -10pips and leave. Let it run TP or lose. I now testing this way
That could work? - will be interested to see your results/conclusion using this trade management over a representative sample size of trades if you continue to use it.

Please be aware that samsha786 has proven the theory that there could be an edge here from his representative 1400+ trade sample, and has rightly pointed out some areas for possible improvement which is what we are all trying to do I guess, as well as trying to remove as much human discretion as possible on the entry and exit methodologies as well as indeed trade management.
Trader with an Edge.
  • #43
  • May 23, 2022 9:13am May 23, 2022 9:13am
Quoting Headland
.... 11. ** 1144am eurnzd sell @ 6453, stop @ 6473, tp = 1;1, = B/e taken after being a max +13 in unrealised profit, now in a an unrealised loss but still within stop if holding for 1:1.) 12. ** 1145am eurusd sell @ 0666, stop @ 0687, tp = 1:1, = +9pips scalp taken. 13. ** 1145am euraud sell @ 4985, stop +5025, tp = 1;1, = not traded as at same time as and effectively the same trade as eurusd above....similar situation as 11. above correct at time of typing. * 14. 1203pm gbpcad buy @6079, stop @ 6065, tp = 1:1, = +14pips gain ....
Day 1 (of 5) test results, addendum.
Those 4 trades, no's 10-13 left with no trade management, or the discretion that I exercised @ exit on no's 10-12, and @ entry on no. 13 - ie just left to reach either stop or tp would all have produced a loss. So, the day 1 (of 5) test results would have been 14 trades, 5 loses, 9 wins, =circa +12% overall @ circa 3% risk/trade. Incidentally, There have been some good winners since then going into the London afternoon/U.s morning but these will not be in my published results which are for signals between 0800am -1200noon London time only, a 4hr trading session.
Trader with an Edge.
  • #44
  • Edited 1:19pm May 23, 2022 10:06am | Edited 1:19pm
Quoting Woodyz
That multi zigzag indicator has locked up my platform & had to shut it down through the task manager...........Now when ever the platform is re-opened its frozen.........Can you help to get me back prior to putting the indicator on the new chart without having to do a platform re-install...........
The same happened to me and since the 600build of the MT4 the data folder (where the indicators are stored) is inside the MT4 application so you can't get to it to delete the indicator as you used to able to pre 600 build through My PC>C: drive>Program files>MT4>indicators. Whose idea was that ? Doh! Anyways, the way I had to cure it was to do a system restore to a restore point a few days ago, but I think this only worked because at that restore point the MT4 app was on a different chart profile.

I always keep an updated copy of the File>Data Folder from within the MT4 app outside of the app and if necessary if you do this and it happens again, a pain though it is you can always uninstall MT4 and re-install and copy and paste the data folder back into it over-writing it. Also when you have problems like this it is better to close the app on a different 'more stable' chart profile so it opens on that at next time of opening.

Hope this helps.

Ps: I think samsha786's latest multizigzag v1.15 indy may be better in this respect by limiting the pairs you are looking at.
Trader with an Edge.
  • #45
  • May 23, 2022 10:23am May 23, 2022 10:23am
Hello,

Where is this latest multizigzag v1.15 indicator?.

Thank you
  • #46
  • May 23, 2022 10:25am May 23, 2022 10:25am
Quoting Rafaz1
Hello, Where is this latest multizigzag v1.15 indicator?. Thank you
Hi,
Post 1 (updating)
  • #47
  • May 23, 2022 10:26am May 23, 2022 10:26am
Quoting Rafaz1
Hello, Where is this latest multizigzag v1.15 indicator?. Thank you
POST N. 1
  • #48
  • Edited 11:08am May 23, 2022 10:55am | Edited 11:08am
Forgive me if I write again, but my post has been "bypassed".
I need to understand how to use the indicator.
Some questions:
For example, If I click on AUDCAD and M15, does it consider me M1-M5-M15 or M15-M30-H1?
Furthermore, if I receive the alarm, do I have to enter immediately?
Thanks
  • #49
  • Edited 1:21pm May 23, 2022 12:57pm | Edited 1:21pm
Quoting livinv
Forgive me if I write again, but my post has been "bypassed". I need to understand how to use the indicator. Some questions: For example, If I click on AUDCAD and M15, does it consider me M1-M5-M15 or M15-M30-H1? Furthermore, if I receive the alarm, do I have to enter immediately? Thanks
Re the multizigzag v1.15 indicator It depends on what t/f you put the indicator on (I think it is just one t/f so put on the 15min it will signal when the 15min zz changes.) It is up to you whether you enter immediately just on the indicator alarm alone, or whether you filter this signal from this indy with other analysis tools.
Trader with an Edge.
  • #50
  • Edited 1:22pm May 23, 2022 1:07pm | Edited 1:22pm
At the end of this test week on the 15min signal as detailed in my posts on this thread so far, I will do the analysis based on it's discretionary trading (ie discretion may be used on entry, -and/or- exit, -and/or- trade management) -and- also on just leaving the trade to run to stop or tp with no trade management. (Arch1 in his posts above is conducting some research on whether a certain trade management helps or not.)

The stats from which the analysis/observations at the end of the 5 days of 4hr trading sessions test period will be as follows for both scenarios.

Total trades
Winning trades
Losing trades
Average winning trade
Average losing trade
Longest losing run
Longest winning run
Typical losing run
Typical winning run
Largest winner
Largest loser
Expectancy/trade

Judging by today's 14 trading signals in the 4hr trading session I completed we may expect something like 70 trading signals across the week? So, these results may well be indicative but not necessarily representative of whether an edge is present in one or both scenarios outlined, on a sample size of just circa 70 in just one week of time.

I also hope to have a better idea of whether the 15min signal performs better when with or against the 1hr/4hr zz, and with or against the pa conditions (trend or range) on those same two higher t/f's.
Trader with an Edge.
  • #51
  • May 23, 2022 1:25pm May 23, 2022 1:25pm
Quoting Headland
At the end of this test week on the 15min signal as detailed in my posts on this thread so far, I will do the analysis based on it's discretionary trading (ie discretion may be used on entry, -and/or- exit, -and/or- trade management) -and- also on just leaving the trade to run to stop or tp with no trade management. (Arch1 in his posts above is conducting some research on whether a certain trade management helps or not.) The stats from which the analysis/observations at the end of the 5 days of 4hr trading sessions test period will be as follows...
the problem could be quickly resolved if the indicator marks exactly where the signal changes
  • #52
  • May 23, 2022 1:47pm May 23, 2022 1:47pm
Quoting 19monza64
{quote} the problem could be quickly resolved if the indicator marks exactly where the signal changes
Working on it... extremely complicated. Will take a while...
  • #53
  • Edited 2:25pm May 23, 2022 2:13pm | Edited 2:25pm
...just look @ 1hr gbpaud chart, rangy overall and although a general upward move today (the candle after the yellow vertical line was when London equities opened) it was within this overall rangy context on this chart. So my question is,and I was intimating at it on the original thread, - should we really be using a 15min zz signal or drop down to 5min in higher t/f chart conditions like these?

Just a thought, but it may prove (not proven yet as far as I know unless anyone knows different) to be important in filtering the zz siganls and putting the probability of a successful trade more on our side. The alternative to this might be to change the 15min setting from15/6 to 25/10 ?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB
Trader with an Edge.
  • #54
  • May 23, 2022 2:19pm May 23, 2022 2:19pm
The other problem is the indicator makes the MT4 screen black background when I prefer a lighter background. Can this not be changed?
  • #55
  • May 23, 2022 2:31pm May 23, 2022 2:31pm
Quoting Rafaz1
The other problem is the indicator makes the MT4 screen black background when I prefer a lighter background. Can this not be changed?
As an alternative to the multizigzag indy you could try the zigzag_startlevel indy on each chart and the zigzag_startlevel_alerts set to the same settings again on each chart, although I don't know whether you would have the same problem. There is also that ZZ3W alerts indy too. These are available for download on the original thread.
Trader with an Edge.
  • #56
  • Edited 3:01pm May 23, 2022 2:51pm | Edited 3:01pm
Quoting Headland
...just look @ 1hr gbpaud chart, rangy overall and although a general upward move today (the candle after the yellow vertical line was when London equities opened) it was within this overall rangy context on this chart. So my question is,and I was intimating at it on the original thread, - should we really be using a 15min zz signal or drop down to 5min in higher t/f chart conditions like these? Just a thought, but it may prove (not proven yet as far as I know unless anyone knows different) to be important in filtering the zz siganls and putting...
I think we should definitely be using a volatility indicator to filter more trades out... either ATR or Bollinger Bands? E.g. if our TP is 10 pips, ATR should be more than 10 pips OR the distance between the lower to mid and mid to upper bands needs to be more than 10 pips - that way you know there is room for price to move...

Increasing Length will keep you out of choppy conditions and also good trades - it's a balancing act. I would prefer fewer more reliable trades.
  • #57
  • May 23, 2022 3:04pm May 23, 2022 3:04pm
Quoting samsha786
{quote} I think we should definitely be using a volatility indicator
Hi,
I use this one in all systems. Simple, effective. Try it
If you don't like I delete
Attached Image (click to enlarge)
Click to Enlarge Name: Pallada volatillity.PNG Size: 6 KB

Cheers
jf
Attached File(s)
File Type: ex4 #Pallada_Volatility.ex4   22 KB | 466 downloads
File Type: mq4 #Pallada_Volatility.mq4   5 KB | 522 downloads
  • #58
  • May 23, 2022 3:04pm May 23, 2022 3:04pm
Quoting Rafaz1
The other problem is the indicator makes the MT4 screen black background when I prefer a lighter background. Can this not be changed?
Yes... For now: https://www.earnforex.com/guides/how-to-change-chart-and-candlestick-colors-in-mt4/#:~:text=You%20can%20change%20the%20default,for%20chart%20background%20and%20foreground

Configure after you add the indy and then save as template.
  • #59
  • May 23, 2022 3:07pm May 23, 2022 3:07pm
Quoting le celte
{quote} Hi, I use this one in all systems. Simple, effective. Try it If you don't like I delete {image} Cheers jf {file} {file}
Thanks will try it... if it works well, will build it into the indy.
  • #60
  • May 23, 2022 6:09pm May 23, 2022 6:09pm
Quoting le celte
{quote} Hi, I use this one in all systems. Simple, effective. Try it If you don't like I delete {image} Cheers jf {file} {file}
Thank you, I will try it.
“The waiting is the hardest part” Tom Petty
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