DislikedIn your backtests, there is a big falloff in profits after some time - how do you plan to avoid that?Ignored
But not possible to avoid dd. Therefore have n accounts and z strategies running to diversify.
1
Notable numbers work well for currencies.
And therefore started a new experiment - Synthetic symbols created in MT5 with formulas from existing currency symbols.
For example, here we can create a new synthetic symbol with the formula: price=EURUSD + GBPUSD
Formulas can be anything.. As we see from the MQL5 website then we can build any kind of synthetic assets for example here complex formula for the dollar index USDX:
Here how it looks my new synthetic symbol "Syn1" chart:
And now we can find notable numbers entries as it was done previously but with one different rule: we open 2 deals for each symbol (in this case EURUSD and GBPUSD) both in the same direction and TP/SL is monitored for Syn1 and closed both opened deals accordingly. No hard TP/SL is possible here - deals must be closed by an EA. There are available free EAs that can do that (close all opened deals according to targets) if you trade this strategy manually.
This is for what I now will make an analysis - to find out combinations of tradable pairs and targets.
And therefore started a new experiment - Synthetic symbols created in MT5 with formulas from existing currency symbols.
For example, here we can create a new synthetic symbol with the formula: price=EURUSD + GBPUSD
Formulas can be anything.. As we see from the MQL5 website then we can build any kind of synthetic assets for example here complex formula for the dollar index USDX:
50.14348112*pow(ask(EURUSD),-0.576)*pow(USDJPY,0.136)*pow(ask(GBPUSD),-0.119)*pow(USDCAD,0.091)*pow(USDSEK,0.042)*pow(USDCHF,0.036)
Here how it looks my new synthetic symbol "Syn1" chart:
And now we can find notable numbers entries as it was done previously but with one different rule: we open 2 deals for each symbol (in this case EURUSD and GBPUSD) both in the same direction and TP/SL is monitored for Syn1 and closed both opened deals accordingly. No hard TP/SL is possible here - deals must be closed by an EA. There are available free EAs that can do that (close all opened deals according to targets) if you trade this strategy manually.
This is for what I now will make an analysis - to find out combinations of tradable pairs and targets.
- #68
- Mar 5, 2023 2:18pm Mar 5, 2023 2:18pm
- Joined Jul 2016 | Status: Trader | 2,534 Posts
In this most recent signal, the entry was taken last week and would have exited profitably on 2022-03-02 ~18:00, I believe.
Why is it status: waiting?
Also it says pips: 10 but from 1.0667 to 1.0581 is ~86 pips.
- #69
- Mar 5, 2023 2:46pm Mar 5, 2023 2:46pm
- Joined Jul 2016 | Status: Trader | 2,534 Posts
I think I understand how the levels work. They are at a fixed distance of 100 pips but at any value that ends in 66 (for EURUSD)?
Update: I understand now. The dates of the trade and my chart history are not always the same, so the trade was taken the previous day when it was a buy signal, which is why it hit the SL.
Also do you know why there are some trades that were not taken during this history? I've marked some of them with green and red arrows (green = potential buy, red = potential sell).
{quote} Some trades wont be taken at level if the previous Hi/Lo is not correct, strategy optimizes according to num of days hi/lo, signal number and signal count.. Stated on the first page
and hi/lo is very important criteria because needed strong/long trend before bouncing from notable numbers (see charts for GBPUSD). days are different for each symbol. EURUSD only 2 days.. all the rest symbols need a lot more days for example AUDUSD even 42 days.
Running analysis for "synthetic" assets made with quite a stupid rule because EURUSD + GBPUSD is not "real" synthetic asset..
anyway did an EA and it is running for more than 10 hours. 4 hours left. There will be setups even with the weird approach:
let it finish and then will run another analysis for the right synthetic assets formula approach:
synthetic asset price = (EURUSD*1/EURUSD + AUDCAD*1/AUDUSD)/2
or for example
synthetic asset price = (GBPJPY*1/GBPUSD + AUDCAD*1/AUDUSD)/2
base currency is USD and in this way, normalization should be accomplished.
anyway did an EA and it is running for more than 10 hours. 4 hours left. There will be setups even with the weird approach:
let it finish and then will run another analysis for the right synthetic assets formula approach:
synthetic asset price = (EURUSD*1/EURUSD + AUDCAD*1/AUDUSD)/2
or for example
synthetic asset price = (GBPJPY*1/GBPUSD + AUDCAD*1/AUDUSD)/2
base currency is USD and in this way, normalization should be accomplished.
- #77
- Mar 5, 2023 3:59pm Mar 5, 2023 3:59pm
- Joined Jul 2016 | Status: Trader | 2,534 Posts
{quote} right
Is this the 'hi/lo' rule?
BUY when the previous 2 days high price is above our notable price level?
SELL when the previous 2 days low price is below our notable price level?
You see here that price reached the notable level of 1.0566. 2 days before both the high and the low were ABOVE this entry level. Is there a reason to reject this signal? EURUSD H1 {image}
You can trade this at this time span: starting from 1 hour after London opening till 1 hour after New York opening.
