Magic 5 | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Magic numbers question 12 replies

Ever seen this magic number bug? 4 replies

magic is back! 11 replies

Magic Numbers for Mutiple EA 9 replies

Attachments: Magic 5
Exit Attachments

Magic 5

  • #41
  • Mar 5, 2024 11:42am Mar 5, 2024 11:42am
Quoting MachineLearn
{quote} Great work and appreciate your coding! What do you think could be a formidable tool when it comes to identifying more ranging markets
So I have made an enormeus amount of robots. The best curvefitting result was 17 million dollars in one year. However the robot should have traded 2 hours every wednedsday night. And that would clearly not happen again.

So my take on it these days is: Make the strategy and robot that seems right. Do some paper testing and forward testing. If the strategy seems logical a winner, then use the strategy when the circumstances are right. Top down analysis.
MetaTrader 4 - so many advantages.
  • #42
  • Mar 5, 2024 11:43am Mar 5, 2024 11:43am
Quoting RiskFighter
{quote} If I had that tool, I would be rich. And so would everybody else. Nobody would have to work anymore. Hence there would be no food on earth and we would all die! Problem is of cause that tools are lacking and we will not acknowledge the range before it is close to end. And the steepest trends follows the end of the ranging. We need to be ready for those. Bollinger and ADX are the ranging indicators. And of cause all the oscillators, when they are undecisable in the middle of the range. Then there is the no trend. I think the best tool for...

Very well said! Thank you.

Start of the day we can apply a filter to sort through trending pairs that qualify for good enough market conditions.
  • #43
  • Mar 5, 2024 11:59am Mar 5, 2024 11:59am
Quoting MachineLearn
{quote} Very well said! Thank you. Start of the day we can apply a filter to sort through trending pairs that qualify for good enough market conditions.
You know - it could be nice for this thread if we exchanges ideas for the next days filter and followed up on the results. More brains to find the right filter!

I will see if I can find something later this evening. Then put the robot on tomorrow.
MetaTrader 4 - so many advantages.
  • #44
  • Mar 5, 2024 12:03pm Mar 5, 2024 12:03pm
Quoting RiskFighter
{quote} You know - it could be nice for this thread if we exchanges ideas for the next days filter and followed up on the results. More brains to find the right filter! I will see if I can find something later this evening. Then put the robot on tomorrow.
Sounds great , let’s do it
  • #45
  • Mar 5, 2024 2:07pm Mar 5, 2024 2:07pm
No
  • #46
  • Mar 5, 2024 6:33pm Mar 5, 2024 6:33pm
Thinking -

Stiffness is a technical indicator introduced by Markos Katsanos. This indicator helps assess the stiffness (i.e., the quality) of an uptrend. Based on the observation that in strong long-lasting uptrends, price seldom penetrates the 100-bar simple moving average, this indicator might help estimate how strong the current trend is by calculating the stiffness coefficient.
The stiffness coefficient is calculated as the ratio of the number of times the price has closed above the moving average during the indicator period to the length of that period in bars. In order to make the calculation more flexible and eliminate minor movements, a volatility threshold is taken into account. If the price closes above the moving average but the distance between the average and the close price is less than a specified fraction of standard deviation, the bar is disregarded when calculating the stiffness coefficient.
By default, the stiffness coefficient is to be at least 90 for the uptrend to be considered strong by this indicator.
  • #47
  • Mar 5, 2024 6:44pm Mar 5, 2024 6:44pm
Quoting MachineLearn
Thinking - Stiffness is a technical indicator introduced by Markos Katsanos. This indicator helps assess the stiffness (i.e., the quality) of an uptrend. Based on the observation that in strong long-lasting uptrends, price seldom penetrates the 100-bar simple moving average, this indicator might help estimate how strong the current trend is by calculating the stiffness coefficient. The stiffness coefficient is calculated as the ratio of the number of times the price has closed above the moving average during the indicator period to the length of...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 45 KB


example of stiffness

3W 1L w/ 1:1RR
  • #48
  • Mar 5, 2024 7:35pm Mar 5, 2024 7:35pm
Almost looks identical...two different pairs, two different times, but we can isolate a healthy trend
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 47 KB
  • #49
  • Mar 5, 2024 7:40pm Mar 5, 2024 7:40pm
GOLD, most recent setups..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 33 KB
Click to Enlarge Name: screenshot.png Size: 32 KB
  • #50
  • Mar 5, 2024 7:45pm Mar 5, 2024 7:45pm
Under this logic GBPNZD would be in a healthy uptrend currently..
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 45 KB


and these are the two winners from this trend..
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB
  • #51
  • Mar 5, 2024 7:48pm Mar 5, 2024 7:48pm
EURNZD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 50 KB
  • #52
  • Mar 5, 2024 8:37pm Mar 5, 2024 8:37pm
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 42 KB
  • #53
  • Mar 5, 2024 10:12pm Mar 5, 2024 10:12pm
So this is what my robot is trading. I felt asleep at did not start it on time. I like to get the Asian timing included when trading AUD and NZD. So it was 4am GMT before I got it going.

I use FXPro as broker for this. Their Split is way to high, so I normally don't trade the low timeframes with them.

The buttons Op and Ned is danish for Up and Down. With those I can set the direction for the trading. I use that for this test. And I trade in the direction of the strength according to the indicator I have on the charts. Problem with that is, that the pairs change all the time and I need to be present. So I need to find out how it works and implement the function into the robot.

The stifness indicator you talk about sounds nice. Can I get it?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 37 KB
MetaTrader 4 - so many advantages.
  • #54
  • Mar 6, 2024 1:14am Mar 6, 2024 1:14am
I'd have a plan to remotely control the parameter of direction, similar to what RF have presented. My planned scalper EA working on M15 will behave differently based on the inputs that might be updated wherever/whenever I have internet access.

But current unsolved challenges are, how do I ensure it will work 99.9%, what if it fails to ensure getting the last command from me for several times, security measures to make sure I'm the only one who could update it... maybe when it fails, terminates the MT5 terminal process provided all SL are well set. Altho I could always monitor the same account on MT5 mobile, but letting EA continually making outdated/wrong decisions is terrible... After all, I'm still new and still planning...

Seeing such stiffness indicator, guess now I have a idea to incorporate it into a swing EA. Not sure if this is appropriate and reliable.
Binds move with curiousity, may the risk rebates
  • #55
  • May 16, 2024 5:12am May 16, 2024 5:12am
@MachineLearn, are you still trading with this strategy? I really like the idea of this - the 5 ema is a great tool to use to indicate whether a market is overstretched and is an indicator I have had on my charts for many years. I can see the promise in this having done some testing.

Anyway, thanks for the thread (found this through the Magic 100 thread).
  • #56
  • May 16, 2024 5:13am May 16, 2024 5:13am
Nice setup just triggered on EURJPY:
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
  • #57
  • May 16, 2024 5:26am May 16, 2024 5:26am
Setup forming on GBPUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
  • #58
  • May 16, 2024 6:06am May 16, 2024 6:06am
Quoting Subhranta5
i have coded this strategy, but it is not attaching to any chart .. please anyone help {file}
This code looks like an indicator (OnCalculate is a giveaway) is that what you meant?
If you move it to the Indicators folder it loads and then throws an error (
2024.05.16 21:07:46.261 Magic5_Test EURUSD,H1: array out of range in 'Test.mq4' (75,49))'
  • #59
  • Last Post: May 16, 2024 8:54pm May 16, 2024 8:54pm
Quoting jonp7777
@MachineLearn, are you still trading with this strategy? I really like the idea of this - the 5 ema is a great tool to use to indicate whether a market is overstretched and is an indicator I have had on my charts for many years. I can see the promise in this having done some testing. Anyway, thanks for the thread (found this through the Magic 100 thread).
Currently not trading this, but it's always in the back of my mind. Share your insights. Will look more into this system too
0 traders viewing now