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SHA & Tripple MA

  • #41
  • Apr 22, 2024 12:22am Apr 22, 2024 12:22am
Finished the analysis of the first pair. It looks nice on multiple timeframes. I trade the H1. Look how nice it gave pips in the past days. And best of all, it is right on the top of a south going channel. It look promissing for short trades.

But - I hate mondays, so this will be small money trades today - just for getting the experiance.

Note, I have not shown how I find the pool of instruments yet.
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MetaTrader 4 - so many advantages.
  • #42
  • Apr 22, 2024 12:27am Apr 22, 2024 12:27am
How is it with trends. They last for some time and then they are broken. So in our minds we watch a stretchy trend and think "it must end NOW". But all experts say NO, trends can go on for a much longer time than we think and as long as the trend is not broken, then it is still working and it can be traded.
MetaTrader 4 - so many advantages.
  • #43
  • Edited 5:07am Apr 22, 2024 4:20am | Edited 5:07am
This is my shot for the instruments for this week. Of cause it will be adjusted along the road.

Why the different background colours? I have done that for years. Sometimes I trade all 28 Forex pairs and it can be hard to follow them. So I change the background colour to red if I own it short, blue at long and the green is when I have not traded the pair.
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MetaTrader 4 - so many advantages.
  • #44
  • Apr 22, 2024 4:42am Apr 22, 2024 4:42am
Here is the tool number 1: symbol changer profit display

Made by two of the FF giants Mladen and CJA. Find it in post no# 1 here: Symbol Changer Profit Display | Forex Factory

I search all 28 Forex pairs. How I do it will come later this week.

Put the indicator on a chart that you don't trade. Be aware, that this chart will now change when you pust a button in the menu. So the chart will change between all the instruments. Hence you cannot write anything or draw trend lines.

Of cause this has only value if you trade multiple instruments. If your strategy is to trade only 1 or 2 instruments, then the rest of my strategy is not interesting for you.
MetaTrader 4 - so many advantages.
  • #45
  • Apr 23, 2024 3:35am Apr 23, 2024 3:35am
Quoting amargam
Looks good your last strategy, I apply on M1 and M5, using as a filter to know momentum and change trend RSI 4 crossing 45-55 levels and trail SL with Supertrend and/or OB/OS of RSI. Thank you so much.
So how do you use RSI? No trade when value is in the zone 45-55, or a short trade must pass 45? Or 55?

What will be your buy signal?
MetaTrader 4 - so many advantages.
  • #46
  • Apr 23, 2024 3:44am Apr 23, 2024 3:44am
Quoting amargam
Looks good your last strategy, I apply on M1 and M5, using as a filter to know momentum and change trend RSI 4 crossing 45-55 levels and trail SL with Supertrend and/or OB/OS of RSI. Thank you so much.
And does the RSI filter really prevent false signals?
MetaTrader 4 - so many advantages.
  • #47
  • Apr 24, 2024 7:00pm Apr 24, 2024 7:00pm
First days of the week were not good with the instruments I had chosed. So I have added a filter to the strategy. The much underestimated Williams Percent Range.

Buy only allowed over -30 and Sell only below -70. To be safe. Could be extended to over/under -50. But more uncertain.
When value lies in the area netween -30 and -70 for more than a couple of bars - don´t touch. Ranging might be coming.
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MetaTrader 4 - so many advantages.
  • #48
  • Apr 26, 2024 4:13am Apr 26, 2024 4:13am
Quoting RiskFighter
{quote} And does the RSI filter really prevent false signals?
yes there is false signals, i look ok higher tf to look for HL or LH and then enter on M1 and scalp. Look for cross rsi from below 45 to cross over 55. Sl on recent high or low of swing of higher tf
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  • #49
  • Edited May 29, 2024 3:04am May 28, 2024 9:46pm | Edited May 29, 2024 3:04am
I use this setup to trade with the trend. But how do you get into a trade when it is trending. The answer is of couse bounces - but when is the bounce right. I am a miserable manual trader so I always get a pain in my stummock when I have to decide when a bounce is ok to take.

So I use "Barplay". Using some standard methods.

One example is the Williams Fractals, which is part of MT4. Note if you are a newbie, that the yellow sign first prints 2 bars after. But then it is tradeable. SL under low of the middle bar and RR as 1:1 or 1:2. However I don't use them all. The two last bars must have the same direction as the trend - Long bars in a Long trend.

Another good example is using the 3 soldiers or 3 black crows. Find it on Google.

Just assure, that for a Long trade, the 50EMA triple is over EMA150.

And you can use EMA20 for approval of setups. So if the low of the fractal is below EMA20 and the high of the 5th. bar is over EMA20, then it is a valid setup (bounce). Same when using the solders. The first soldier must open below EMA20.
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MetaTrader 4 - so many advantages.
  • #50
  • Jun 17, 2024 9:48am Jun 17, 2024 9:48am
I programme robots in Metatrader4. That is a very advanced piece of tool with many functions. One of those is the Backtest function. When you have made the robot, then you can backtest it to see how it performs. And you can change the parameters in the robot to see if it would perform better with another value of the indicators you use. This way you can find the best set of parameters for your strategy and then you will be rich - the grail is there.

But alas - this is called curvefitting. You fit the performance of the past to give maximum output. The same as if you could write the lotto numbers on your coupon from last week, after they have been published. I stopped backtesting and curvefitting many years ago.

But lately people in this forum have talked about making robots and backtest them in order to make them perfect. So I tested the strategy in this thread to make it as good as possible. Watch the result in my next 3 posts.
MetaTrader 4 - so many advantages.
  • #51
  • Jun 17, 2024 9:51am Jun 17, 2024 9:51am
Quoting RiskFighter
I programme robots in Metatrader4. That is a very advanced piece of tool with many functions. One of those is the Backtest function. When you have made the robot, then you can backtest it to see how it performs. And you can chance the parameters in the robot to see if it would perform better with another value of the indicators you use. This way you can find the best set of parameters for your strategy and then you will be rich - the grail is there. But alas - this is called curvefitting. You fit the performance of the past to give maximum output....
So here is the result. The last 6 weeks curvefitted with the parameters which worked the best for my strategy.

Nice ??? Grail - YES!!!
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MetaTrader 4 - so many advantages.
  • #52
  • Jun 17, 2024 9:52am Jun 17, 2024 9:52am
Quoting RiskFighter
{quote} So here is the result. The last 6 weeks curvefitted with the parameters which worked the best for my strategy. Nice ??? Grail - YES!!! {image}
The next step was to use the same parameters on the whole of 2024.
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MetaTrader 4 - so many advantages.
  • #53
  • Jun 17, 2024 9:53am Jun 17, 2024 9:53am
Quoting RiskFighter
{quote} The the next step was to use the same parameters on the whole of 2024. {image}
You see? I found the best parameters for the 6 weeks that I tested, but it does not fit in real life.
MetaTrader 4 - so many advantages.
  • #54
  • Jun 17, 2024 9:54am Jun 17, 2024 9:54am
Quoting RiskFighter
{quote} You see? I found the best parameters for the 6 weeks that I tested, but it does not fit in real life.
OK then, what are the best parameters for 2024. MT4 can tell me, so I tested with the optimizing function. This is the result.
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MetaTrader 4 - so many advantages.
  • #55
  • Last Post: Jun 17, 2024 9:57am Jun 17, 2024 9:57am
Quoting RiskFighter
{quote} OK then, what are the best parameters for 2024. MT4 can tell me, so I tested with the optimizing function. This is the result. {image}
So - lesson learned. You cannot backtest and find the best parameters for your strategy. And you cannot make a robot that works at all times.

My take is, that I do not back test at all. I make a strategy and if I believe in it, then I make the robot. But i select the pairs to trade next day every evening. If I think a pair will fit my strategy,then I put on the robot for the next day only.
MetaTrader 4 - so many advantages.
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