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Free Grid EA Ikarus - From zero to hero

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  • #2,221
  • Oct 15, 2022 7:30pm Oct 15, 2022 7:30pm
Guys,

Be very, very careful with Ikarus. It is true that it can generate massive profits in favorable market conditions. However, the same power that creates can and will take away.

At the end of the day, it all comes down to one measurement...how many pips can the market move in one direction without a pullback of (X) pips, before your account blows up?

I think Ikarus is only half of the puzzle. The other half is most probably some form of pyramiding operation (with the trend) that synchronizes with and contributes to Ikarus' TP calculation. It doesn't have to be perfect or precise, but it needs to be there...adding positions with the trend when Ikarus is averaging in deep and possibly getting into existential trouble.
  • #2,222
  • Oct 16, 2022 6:17am Oct 16, 2022 6:17am
Quoting Umberleigh
Guys, Be very, very careful with Ikarus. It is true that it can generate massive profits in favorable market conditions. However, the same power that creates can and will take away. At the end of the day, it all comes down to one measurement...how many pips can the market move in one direction without a pullback of (X) pips, before your account blows up? I think Ikarus is only half of the puzzle. The other half is most probably some form of pyramiding operation (with the trend) that synchronizes with and contributes to Ikarus' TP calculation. It...
Hi, im a long time lurker here but i have never posted anything (because i feel i dont bring value to the community: most of the people here either are profitable, have a long career or a master coders) and i admire the work that you all have been doing on Ikarus (i cannot code in MQL but i do hire coders every now and them to test theories). I strongly agree with this view Umberleigh, what i have found while exploring it is that both things needs to happen within the same EA or at least controlled by another EA that can sync them and im not sure how to deal with the fact that the pyramid one will eventually get either too big on trade size or have the levels too spaced out to get proper gains while trending (without even take into consideration the amount of trades that will be stopped out despite being in the correct direction due to SL being hit). I have tried only pyramiding alone but i haven't been able to couple those two concepts of the pyramid and Ikarus working together.. Any clue on that?

Regards,
S
  • #2,223
  • Edited 11:33am Oct 16, 2022 11:20am | Edited 11:33am
Inserted Video

The cartoon is called "Icarus and the Wise Men" (1976).
Text:
Once upon a time there lived an eccentric named Icarus. All his neighbors, smart people, have already found their calling in life.
And, now, they devoted their leisure time to philosophical conversations about the meaning of being, and so on ...
And this one... was a eccentric.
Seeing Icarus falling, smart people thought, and one of them, the smartest, said: "Quod licet Jovi, non licet bovi" (What is allowed to Jupiter is not allowed to the bull). Thus was born the first indisputable truth.

Pes sic tendatur ne lodix protereatur (Stretch your legs along the clothes). Thus was born the second truth!

Festina lente - You go quieter - you will continue.
Est avis in dextra (melior quam quattuor extra) - Better a titmouse in the hand than a distant crane.
Ne sutor supra crepidam (judicet) - Every cricket know your hearth.
Via trita via tuta - The beaten path is safe (You can’t jump above your head).
Quo altior grapus tanto profundior casus - The higher you climb, the deeper you fall.
Bene qui stat non moveatur - Whoever stands well does not need to move (inscription on the monument to Icarus)

And, nevertheless, Icarus will fly!!!
Wherever you go, there you are (Jon Kabat-Zinn)
  • #2,224
  • Oct 16, 2022 12:08pm Oct 16, 2022 12:08pm
gpsamj,

Ikarus does a very good job of executing its core task (averaging grid). Perhaps the obstacle lies not with Ikarus but with the instrument(s) we are trading. We have established that Ikarus will blow up if it encounters a long, smooth trend without a reasonable pullback.

Why not use Ikarus to trade an instrument(s) that does not trend? In other words, trade an instrument that "ranges only".

This theoretically can be done by trading the "cointegrated spread" of two or more currency pairs.

I believe this idea would be complicated to code... so a master coder would be needed. The "hedge ratio" of each pair would need to be locked so that the integrity of the cointegrated relationship is maintained.
  • #2,225
  • Edited 3:22pm Oct 16, 2022 3:12pm | Edited 3:22pm
Quoting Umberleigh
Guys, Be very, very careful with Ikarus. It is true that it can generate massive profits in favorable market conditions. However, the same power that creates can and will take away. At the end of the day, it all comes down to one measurement...how many pips can the market move in one direction without a pullback of (X) pips, before your account blows up? I think Ikarus is only half of the puzzle. The other half is most probably some form of pyramiding operation (with the trend) that synchronizes with and contributes to Ikarus' TP calculation. It...
At the end of the cartoon, the little boy took the feathers of Icarus (https://www.forexfactory.com/thread/...5#post14182195).
In 2012, at a Russian forum, the fourteen-year-old genius Connect495 took on the challenge of safely trading a grid of stop and limit orders.
And he promised to share the result of his work. But a large number of "wise men" poured a lot of verbal crap on him.
Connect solved the problem and showed how the Expert Advisor works. Partially told how he solved the problem.
And then he disappeared from the forum forever.
On the screen, the work of EA for 5 days from a deposit of $ 10,000.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 44 KB

For years, his fans have been trying to solve this problem again. This year, one trader said that he succeeded and showed several videos of work using the Connect method.
Inserted Video

EA trades a mixed grid of limit and stop orders.
Wherever you go, there you are (Jon Kabat-Zinn)
  • #2,226
  • Oct 16, 2022 3:32pm Oct 16, 2022 3:32pm
Genry_05,

Would you be the now grown man...Connect495 ? Can you communicate with Evgeny?
  • #2,228
  • Oct 19, 2022 9:56pm Oct 19, 2022 9:56pm
Quoting Jarass1080
Also thanks to Mapi. I have been working with ikarus for some time. For me, the best versions are the ikarus 4.73 flex ATR. And 4.73 flexART 2022 june 22 Ikarus 4.73 flexATR after 2 months of work {image} Ikarus 4.73 flexATR 2022june22 after a month of work {image}
Can I ask for your setup here and which timeframe you are using?
  • #2,229
  • Oct 29, 2022 6:54am Oct 29, 2022 6:54am
Hi guys!

Ive been playing around with the 2.2, also checked the 4.6 version.
There is something that I really miss here, (a equity take profit function). (When EQ hit a (daily/cycle target goal, say 100USD, it stops the cycle/EA and realize that profit.)

I have zero skills of coding it myself.

Ive tried seraching, but no luck, dont know if it might exist in a previous version? (super grateful if someone cant point me in the right direction)

Thank you so much!
  • #2,230
  • Oct 29, 2022 12:13pm Oct 29, 2022 12:13pm
Quoting Chriistophee
Hi guys! Ive been playing around with the 2.2, also checked the 4.6 version. There is something that I really miss here, (a equity take profit function). (When EQ hit a (daily/cycle target goal, say 100USD, it stops the cycle/EA and realize that profit.) I have zero skills of coding it myself. Ive tried seraching, but no luck, dont know if it might exist in a previous version? (super grateful if someone cant point me in the right direction) Thank you so much!
Attached is EA you could attach on another chart to take profit as you define. It would be great if anyone to include merge these two EA into One EA
Attached File(s)
File Type: mq4 Close5Profit.mq4   9 KB | 681 downloads
  • #2,231
  • Oct 30, 2022 4:59am Oct 30, 2022 4:59am
Quoting phrixusong
{quote} Attached is EA you could attach on another chart to take profit as you define. It would be great if anyone to include merge these two EA into One EA {file}


https://www.forexfactory.com/thread/...6#post14201666
Got some help here, see if its something that will work for you as well! Thanks a lot guys!
  • #2,232
  • Nov 3, 2022 8:55am Nov 3, 2022 8:55am
Hi folks,

after a long time I am visiting my own thread Thank you all for your ideas, works and thoughts on Icarus. As you might have seen from my linked live account I am on an all time high, also I have hit the Top20 of real accounts here in ForexFactory. Atm I am trading mainly EURUSD short (in direction of trend and swap) and US500 on future base (so it is swap free for me), I stoped trading USDJPY and all JPY crosses due to the intervention of BoJ.

Sometime I received mails here asking wich settings I am using. Since more than 6 months (where my account was liquidated twice within one wekk in the same market) I stoped starting cycles by settings, but do this manual via hot buttons. I use my knowledge, the chart, also CurrencyStrengthMeters when it comes to forexpairs, I am super aware of swap when choosing a market (check the stats of my real account, after all lots traded I still have earned some money from swaps).

After I have opend a cycle manualy I allow the EA to handel the cycle, sometimes I change settings for TP in favour on my analysis of the market. For EURUSD I am running the system with Grid_Size=50,GS=3,TP=150, PL:0,89,MinLot 0,1 and Progression= 3, allowing 5 Positions to be opend, latest than I take over by myself via hot buttons.

It might be I need to stop trading for this year soon, due to the fact I have a stupid tax law in my country, allowing me only to make 20K losses a year, so when there are bigger losses I do have to pay taxes on the wins but I cannot use losses above that boarder for summing them up against the wins. Currently I can make another 684,- € loss this year, lol...

I wish you all green pips,
Cheeeeers, MaPi
Green pips 2 all of us!
  • #2,233
  • Nov 11, 2022 10:11am Nov 11, 2022 10:11am
Trading with grid strategy is always risky.
  • #2,234
  • Nov 13, 2022 12:30pm Nov 13, 2022 12:30pm
How do i open a cycle manualy?

Thx for help :-)
  • #2,235
  • Nov 15, 2022 2:11am Nov 15, 2022 2:11am
You press the buy or sell button by yourself and a cycle opens
  • #2,236
  • Nov 15, 2022 2:33pm Nov 15, 2022 2:33pm
Hi

how do you setup if you want to trade a breakout with icarus, but only for one cycle?
Is there a parameter to use to put in the number of cycles? I dont want to press the stop next cycle button, but maybe there i will add some additional code.
  • #2,237
  • Nov 19, 2022 1:25am Nov 19, 2022 1:25am
For USA brokers, what settings should I use to make Icarus EA FIFO compliant? Thanks
  • #2,238
  • Nov 19, 2022 6:18am Nov 19, 2022 6:18am
Would be a good idea to add it if its useful for you,what I would like to have is an option where the cycle could open at a cross of a moving average at an A) timeframe and a dont open new cycle at a cross of another moving average at another B) timeframe. Our coders here maybe can add it?
Thnx
  • #2,240
  • Nov 25, 2022 3:47pm Nov 25, 2022 3:47pm
Hello, thank you for the hard work everyone. I am a junior fx trader. Could someone send me the most recent version of Icarus? Thank you so much.
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