Supernova GBP/JPY Mini Trend Catcher | Page 111 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex Trend Catcher EA 721 replies

trend catcher fib ea 5 replies

Early Trend Catcher Part2 46 replies

Early Trend Catcher 31 replies

Trend Catcher 5 replies

Attachments: Supernova GBP/JPY Mini Trend Catcher
Exit Attachments

Supernova GBP/JPY Mini Trend Catcher

  • #2,201
  • Oct 26, 2007 1:23am Oct 26, 2007 1:23am
Quoting awesome792
I will not be able to trade for two months (but may consider Sundays) because I have to go to a training for my job in Georgia. I wish they would have waited after the holiday's
Awesome,

I think it may be a blessing in disguise. I manually backtested last December and January. December was a disaster, there was a little profit but most would have been taken by the spread (or commission if you use an ECN). January was a lot better, but still not as good as usual. Of course your results may vary depending on exactly how you are trading, but I think most traders will agree that over December/January the markets are ranging a lot more (bankers are away skiing ), and although this system works better than most during that period, I think you won't be missing too much... better to be sent away now rather than later.

In fact, that's one of the reasons that I'm so interested in the EA, because a single currency in December will probably not provide a lot of good opportunities, but by working with a lot of currencies the EA may still be able to find a lot of decent moves - and that's also why I'm so interested in having a good non-ranging filter, so that the EA doesn't get slaughtered by the December ranging markets....

Jin.
  • #2,202
  • Oct 26, 2007 1:40am Oct 26, 2007 1:40am
Quoting awesome792
I always felt that manually trading this system was extremely easy the hard part is getting out. Once you find the best way to determine to exit the sky is the limit.
Try adding the indicator Parabolic S+R with settings : Step 0.04, Maximum 0.5
(If you're using a version of Parabolic with a 'precision' setting then use setting 7)

I would recommend adding it to the same timeframe as you're trading, although probably for longer timeframes it would be better to use a faster chart, eg. 5m or 15m.

Place your initial SL at the Parabolic dot that occurs on the same bar as your entry, but I use maximum 30 for GBP/JPY on 5m - your maximum may be different for other pairs, timeframes, etc. With GBP/JPY on 5m the dot will almost always be further than 30 at first, so just use 30. (in December the market is so slow that the parabolic dot will almost always be closer than 30)

Eventually the Parabolic dot will move within 30 of the current price, so just follow your SL with the dots, BUT with one catch - always use the dot that is 2 behind the current dot. This is the optimum point according to my manual backtesting. If the current dot gets hit so that Parabolic reverses, then keep your SL 2 back and wait - often it will reverse again and keep you in good long trades.

At first I found it hard to use this method of exit because when I see profit then I like to 'lock it in', but often by doing so you will miss out on the really big trades that stall and reverse a little before moving big. So now I've removed all prices from the chart and just trade with the dots. Works for me.

Jin.
  • #2,203
  • Oct 26, 2007 1:58am Oct 26, 2007 1:58am
I appreciate your posts and I will set these settings this morning! Will talk with you later!!!

Quoting Jin
Try adding the indicator Parabolic S+R with settings : Step 0.04, Maximum 0.5
(If you're using a version of Parabolic with a 'precision' setting then use setting 7)

I would recommend adding it to the same timeframe as you're trading, although probably for longer timeframes it would be better to use a faster chart, eg. 5m or 15m.

Place your initial SL at the Parabolic dot that occurs on the same bar as your entry, but I use maximum 30 for GBP/JPY on 5m - your maximum may be different for other pairs, timeframes, etc. With GBP/JPY on 5m the dot will almost always be further than 30 at first, so just use 30. (in December the market is so slow that the parabolic dot will almost always be closer than 30)

Eventually the Parabolic dot will move within 30 of the current price, so just follow your SL with the dots, BUT with one catch - always use the dot that is 2 behind the current dot. This is the optimum point according to my manual backtesting. If the current dot gets hit so that Parabolic reverses, then keep your SL 2 back and wait - often it will reverse again and keep you in good long trades.

At first I found it hard to use this method of exit because when I see profit then I like to 'lock it in', but often by doing so you will miss out on the really big trades that stall and reverse a little before moving big. So now I've removed all prices from the chart and just trade with the dots. Works for me.

Jin.
  • #2,204
  • Oct 26, 2007 2:10am Oct 26, 2007 2:10am
Hi awsome,

great job you are doing, been lurking in this thread since start...

SKype is THE tool for this, its super optimized and carries also voice and video etc. Just download it and you will be up running in 2 mins. (right now 7.566.998 ppl are online using skype, and it has over 75 mill. users!)

I hope u soon can quit your (newly promoted) job and be a hardcore FX trader on the beach

See u around and have a nice weekend all..

PC



Quoting awesome792
Thanks for posting! I will heard of Skype but never educated myself on it. Nofx also mentioned them. Sounds good what do everyone think?
Less is more...
  • #2,205
  • Oct 26, 2007 2:10am Oct 26, 2007 2:10am
Quoting winsteadglenn
I agree that Damiani looks best on settings of 1.1, but the darn thing was jamming up the EA, so that it took no trades at all. I wonder if it requires that one enable DLL inputs on the common tab?
I do have DLL imports enabled, but I don't think that should make a difference as that setting is intended for code that "imports external functions from the common windows dlls or from your custom dlls". I don't think that applies to Damiani, though I could be wrong.

I don't know why it wasn't working in the past, but somebody earlier in this thread said it is now fixed, perhaps it is working perfectly now and there is no need to change anything? It certainly seems to be working on my end. I would still prefer Juice though.

Quoting winsteadglenn
I am using entry: QQE/DMI period 7
I think most of my settings are the same as yours, since I based my settings on what you have written earlier, although my DMI is still at the default 14. I guess you found 7 to be better for 30m? I'm reluctant to change since 14 seems to be working okay.
  • #2,206
  • Oct 26, 2007 2:30am Oct 26, 2007 2:30am
Quoting awesome792
I appreciate your posts and I will set these settings this morning! Will talk with you later!!!

Here's an example of what my Parabolic chart looks like for exits. All prices are removed, the only price remaining is the level of my current SL which appears by placing a horizontal line on the chart, I manually move the line every 5 minutes (since I'm trading on 5m) so it shows exactly where my current SL is, at the Parabolic dot 2 bars back.

http://img139.imageshack.us/img139/1053/paradb2.jpg

This image demonstrates why I like to keep my SL at the level of the dot 2 bars back. It helps to prevent early exits. Of course if the direction does properly reverse then you'll lose a little more profit, but the benefit outweighs the risk.

http://img139.imageshack.us/img139/3372/para2fg0.jpg


It's also possible to try other parabolic settings, but I tested A LOT before choosing these.

As I mentioned before, if the current parabolic dot does get hit and so the parabolic dots reverse, I stay in the trade without changing the SL, as often it will reverse again. In that case I am sitting waiting for the parabolic indicator to reverse, and that is when the parabolic alert comes in handy - see attached indicator. Be sure to set the 'precision' to 7, otherwise it is not accurate.

Jin.
Attached File(s)
File Type: mq4 Parabolic SAR Color - Alert.mq4   3 KB | 731 downloads
  • #2,207
  • Oct 26, 2007 4:04am Oct 26, 2007 4:04am
Daylight Savings Changes

You may want to adjust your hours of trading from next week, since changes occur on the last Sunday in October (this Sunday) :

- most of Europe & USA switches from DST to standard time
- most of Australia switches from standard time to DST
- Japan never changes it's time throughout the year

If you're trading only with non-yen pairs then it shouldn't make much difference. Also if you're just trading during the US session then conditions probably won't change much since the UK/US market overlap times will stay the same. But if you trade with yen pairs, and especially during the beginning of the UK session, then your timing may need to change since Europe switches from DST but Japan doesn't, therefore the UK/Asian market overlap times will change, affecting the times when the market is likely to move the most. Also some brokers adjust their times with DST and some don't, which may complicate any time-difference calculations. This especially applies to any changes you may need to make to EA trading hours, but will also change the best times for trading manually. Good Luck!

Jin.
  • #2,208
  • Oct 26, 2007 6:44am Oct 26, 2007 6:44am
I have a suggestion for a modification to the EA (s) that would have saved me a bit of money today.

When the time reached the trading hour (0800 GMT), three trades were executed based on the entry parameters already having been met (QQE, DMI, MOM,CCI). Looking at the charts at time of entry, however, showed that one or more of the exit signals was heading in the wrong direction. In other words, the EA put me in trades that were too late in the current trend and about to reverse. For those of us trading larger TF's, this can result in a substantial loss.

My suggestion is to include a parameter to ignore the initial trend and wait for a new signal. I am running the same EA (Glenn 1.3a) on a separate demo account with trading hours of 0-24 (vs 8-16), and, on that account, those three trades initiated much sooner and all closed for a profit.

Something to consider.
  • #2,209
  • Oct 26, 2007 6:59am Oct 26, 2007 6:59am
Quoting Jin
Here's an example of what my Parabolic chart looks like for exits. All prices are removed, the only price remaining is the level of my current SL which appears by placing a horizontal line on the chart, I manually move the line every 5 minutes (since I'm trading on 5m) so it shows exactly where my current SL is, at the Parabolic dot 2 bars back.

http://img139.imageshack.us/img139/1053/paradb2.jpg

This image demonstrates why I like to keep my SL at the level of the dot 2 bars back. It helps to prevent early exits. Of course if the direction does properly reverse then you'll lose a little more profit, but the benefit outweighs the risk.

http://img139.imageshack.us/img139/3372/para2fg0.jpg


It's also possible to try other parabolic settings, but I tested A LOT before choosing these.

As I mentioned before, if the current parabolic dot does get hit and so the parabolic dots reverse, I stay in the trade without changing the SL, as often it will reverse again. In that case I am sitting waiting for the parabolic indicator to reverse, and that is when the parabolic alert comes in handy - see attached indicator. Be sure to set the 'precision' to 7, otherwise it is not accurate.

Jin.
Jin

I like your parabolic alert a lot! Using it, I am currently +70 and counting on GJ

A quick question. I noticed that you said you traded dot to dot mostly. Do you use any other criteria for entering a trade other than parabolic and Juice or do you use it just to control your exit from Supernova trades?
  • #2,210
  • Oct 26, 2007 7:05am Oct 26, 2007 7:05am
The latest EA 3A does need some modifications other than what people want as enhancements. The CCI issue is killing the system, its constantly opening trades when all conditions [with EntryOnCCI = False] have been met many bars ago when the CCI hits +/- 100 due to opening the charts for the first time. Though I have ExitOnCCI, it will not close it since CCI is approaching the zero line. Is anyone using any other options on ExitON??? other than the S/L? I guess I will have to exit on anything since the entry orders are at the bottom when these orders gets kicked in automatically.
  • #2,211
  • Edited 9:03am Oct 26, 2007 8:19am | Edited 9:03am
Jin: Wow. You are good! That Parabolic SAR is a keeper, for sure.
Thanks. Also tips on time change. Thx.
I am not sure that DMI 7 is better than 14. I think it offers a slight edge on the thirty min. window. Will you use the EA on the five min. window, when you are ready? Gnat wanted to exit on another time frame. Perhaps the Parabolic will be an ideal exit for this scenario.
Current EA plans:
QQEA;
Sound alert on entry;
Parabolic SAR with alert;
Juice.
Alternate TF exit option.
Debating the trailing stop system. It might be better to omit it, since several versions can be used, as is.

Give me a solution to the problems cited by Orion/ET.


ET and Orion . Same here. Will address this. Late entries on pound/yen are killers. Maybe this can be linked with the indicator by Sapimas in some way.
No entries after X number of blue or red bars, perhaps. ???? Those late CCI entries caused me to change to entry T3 true/ CCI false; exit on everything.

Eeecked out a tiny profit today.
  • #2,212
  • Oct 26, 2007 8:28am Oct 26, 2007 8:28am
Jin

I guess I gotta try the PSAR for exiting, how has been for entries? I had tried to used the PSAR awhile back, it would show long/short even though in my mind price is moving the opposite direction using the default settings.
  • #2,213
  • Oct 26, 2007 8:51am Oct 26, 2007 8:51am
Quoting Jin
I provided the updated indicators with the alerts for people trading this system manually, and I said that I will never use the EA because I don't want to use MT4 brokers... but I couldn't resist the EA any longer after reading the positive results here, so I started testing...

(1) There seems to be a bug, though I'm surprised nobody else has noticed so I'm not sure if it's happening only for me. I'm using Glenn's EA (from the zip in post 1), and selected for Exit the QQE, DMI, and CCI. I believe that the EA should just wait for ONE of those to reverse, and then it will close the trade, but it's definitely not closing when QQE reverses. It also seems that sometimes it doesn't exit when CCI reverses... Is anybody else experiencing either of those problems?

(2) I know there was a problem with Damiani in the past, apparently the problem is now fixed (somebody wrote that). It certainly seems to be working fine for me with Damiani active for entries. But I read that people have requested that Damiani is not included in future versions of the EA (send it into the ocean). In that case, I suggest that another filter is added to prevent entries during ranging markets, eg. the Juice indicator that I posted works well. I believe it is very important to have a filter for periods when the market is ranging, otherwise there will be many more bad entries outside of the most active trading hours. By having a filter against ranging, you can leave the EA running almost all day and let it take advantage of the big moves that often occur unexpectedly during off-hours, without risking entering a market that has no strong active trend.

ps. I think Damiani looks much better with the threshold setting at 1.1, just my observation...

(3) I've seen it mentioned various times that Glenn's EA doesn't use magic numbers, but in the list of 'changes coming soon' it doesn't say that magic numbers will be added. I think that these would be a helpful addition, especially for cooperating with other EA's that manage exits...

Anyway, it seems to be a great EA, but I really need to figure out why it's not reliably exiting trades on QQE and CCI reversals...

Jin.
Hi Jin ,
thank you for your feedback about EA. Let's give some answers...

(1) I tried EA a little bit in demo and in backtest and I never experienced that kind of issue. (Just an hint : are you using the correct QQE indicator ? The right one is QQE.mq4 and you will find somewhere along this thread). Could you also post a screenshot with your settings so it's more easy to check if something is wrong ?

(2) I'm fighting to solve the problem with Damiani indicator even if at first glance code list seems to be ok. So just for now leave EntryOnDamiani at false to avoid further problems.

(3) The EA already comes with a magic number routine that automatically calculates it for each pair and timeframe , so that it will be unique. I simply forgot to show it on the chart (sorry ). In coming v1.4 you'll see also the unique MagicNumber

Happy pips
Skyline
  • #2,214
  • Oct 26, 2007 8:53am Oct 26, 2007 8:53am
Quoting et_phonehome_2
The latest EA 3A does need some modifications other than what people want as enhancements. The CCI issue is killing the system, its constantly opening trades when all conditions [with EntryOnCCI = False] have been met many bars ago when the CCI hits +/- 100 due to opening the charts for the first time. Though I have ExitOnCCI, it will not close it since CCI is approaching the zero line. Is anyone using any other options on ExitON??? other than the S/L? I guess I will have to exit on anything since the entry orders are at the bottom when these orders gets kicked in automatically.
Sorry ET I cannot figure out the CCI issue, could you show on a chart what are you experiencing ?

thx

Skyline
  • #2,215
  • Oct 26, 2007 9:47am Oct 26, 2007 9:47am
Quoting Jin
Here's an example of what my Parabolic chart looks like for exits. All prices are removed, the only price remaining is the level of my current SL which appears by placing a horizontal line on the chart, I manually move the line every 5 minutes (since I'm trading on 5m) so it shows exactly where my current SL is, at the Parabolic dot 2 bars back.

http://img139.imageshack.us/img139/1053/paradb2.jpg

This image demonstrates why I like to keep my SL at the level of the dot 2 bars back. It helps to prevent early exits. Of course if the direction does properly reverse then you'll lose a little more profit, but the benefit outweighs the risk.

http://img139.imageshack.us/img139/3372/para2fg0.jpg


It's also possible to try other parabolic settings, but I tested A LOT before choosing these.

As I mentioned before, if the current parabolic dot does get hit and so the parabolic dots reverse, I stay in the trade without changing the SL, as often it will reverse again. In that case I am sitting waiting for the parabolic indicator to reverse, and that is when the parabolic alert comes in handy - see attached indicator. Be sure to set the 'precision' to 7, otherwise it is not accurate.

Jin.
Hi Jin and thanks a lot for this, it looks really great. Something to do at the weekend

- finnfx
If you want to win you need a Finn (an old English saying from the 60's)
  • #2,216
  • Oct 26, 2007 10:20am Oct 26, 2007 10:20am
Awesome 792,

Can you explain a little bit more about kumo resistance levels with maybe a diagram of both upward and downward movement resistance. I have been using it along with supernova but still can not figure it out.

Thanks,

Elaps
  • #2,217
  • Oct 26, 2007 11:07am Oct 26, 2007 11:07am
Hi,

Thanks for the comments. I just want to clarify that I am only using the parabolic dots for exits, not for entries. In the past I have looked at using parabolic for entries but it gives too many false signals. It isn't useful as an addition to the supernova entry indicators, because it almost always agrees with the existing indicators, the difference is that it usually gives entries too early so it's not really useful. But for exits, it can be very helpful.

Quoting skyline
I'm fighting to solve the problem with Damiani indicator even if at first glance code list seems to be ok. So just for now leave EntryOnDamiani at false to avoid further problems.
I haven't seen a problem with it, when I look at the charts I see that it definitely kept me out of trades during the early hours when there was little activity, and the EA correctly entered only at the correct time when Damiani's green line crossed up. I'm not going to turn it off so long as it continues to save me from bad trades! I guess I'm just lucky with it, but then I'm unlucky with it not exiting on QQE reversals...

Quoting skyline
Just an hint : are you using the correct QQE indicator?
I'm using all the indicators from the zip in the 1st post, so I think everything should be correct. I will try testing it again next week, I will be setting up a brand new MT4 install, if it still isn't exiting on QQE reversals then I'll send a screenshot of the settings etc.

Quoting winsteadglenn
Will you use the EA on the five min. window, when you are ready?
Since many people reported good results with longer timeframes (30m and up), I thought I might stick with 30m... but I think it's too slow for me personally, I think I would prefer to get in and out of the trades faster with less profit. On Monday I will probably start testing 5m with the EA on 10 pairs, with TP 34, SL 17, Trailing 17 -I just guessed those numbers, no data to back them up I know Gnat's backtesting shows good results on longer timeframes, but I'm not happy with the number of pips profit vs. amount of stoploss required. Hopefully my 5m settings will act as a supernova-scalper and catch plenty of smaller trades...

I have spent many hours manually backtesting supernova, but only with the standard supernova settings for manual trades, and only with GBP/JPY, so I have no idea how well the EA will perform with 10 pairs on a small timeframe with my new TP/SL/Trail settings - but I have a lot of confidence that the entry indicators will find good trade opportunities, especially with the addition of Damiani to keep out of ranging conditions (so long as Damiani continues to work fine for me), so hopefully my EA testing next week will be positive, I'll report back with the results.

Have a great weekend!

Jin.
  • #2,218
  • Oct 26, 2007 12:41pm Oct 26, 2007 12:41pm
Quoting Jin
Hi,

Thanks for the comments. I just want to clarify that I am only using the parabolic dots for exits, not for entries. In the past I have looked at using parabolic for entries but it gives too many false signals. It isn't useful as an addition to the supernova entry indicators, because it almost always agrees with the existing indicators, the difference is that it usually gives entries too early so it's not really useful. But for exits, it can be very helpful.



I haven't seen a problem with it, when I look at the charts I see that it definitely kept me out of trades during the early hours when there was little activity, and the EA correctly entered only at the correct time when Damiani's green line crossed up. I'm not going to turn it off so long as it continues to save me from bad trades! I guess I'm just lucky with it, but then I'm unlucky with it not exiting on QQE reversals...



I'm using all the indicators from the zip in the 1st post, so I think everything should be correct. I will try testing it again next week, I will be setting up a brand new MT4 install, if it still isn't exiting on QQE reversals then I'll send a screenshot of the settings etc.



Since many people reported good results with longer timeframes (30m and up), I thought I might stick with 30m... but I think it's too slow for me personally, I think I would prefer to get in and out of the trades faster with less profit. On Monday I will probably start testing 5m with the EA on 10 pairs, with TP 34, SL 17, Trailing 17 -I just guessed those numbers, no data to back them up I know Gnat's backtesting shows good results on longer timeframes, but I'm not happy with the number of pips profit vs. amount of stoploss required. Hopefully my 5m settings will act as a supernova-scalper and catch plenty of smaller trades...

I have spent many hours manually backtesting supernova, but only with the standard supernova settings for manual trades, and only with GBP/JPY, so I have no idea how well the EA will perform with 10 pairs on a small timeframe with my new TP/SL/Trail settings - but I have a lot of confidence that the entry indicators will find good trade opportunities, especially with the addition of Damiani to keep out of ranging conditions (so long as Damiani continues to work fine for me), so hopefully my EA testing next week will be positive, I'll report back with the results.

Have a great weekend!

Jin.
Thx for your input
To say all the truth I didn't experienced in backtest nor in live demo test any issue with Damiani. As far as I know only Glenn is still having problem with it as far as I know, btw I'll continue to investigate about this problem.

Happy testing !
  • #2,219
  • Oct 26, 2007 12:51pm Oct 26, 2007 12:51pm
Hey Glen and Sky...my two cents are the "start-up" issue- meaning when I turn on EA it will take a old signal and trade. (last night some were 5 hour old signals!!)G/J 30M....it costs me hundreds of dollars just to start up the EA. I suppose I could just change the trading hours, but every time? I think a limit of say, 3 bars on a 30m chart...or better yet user adjustable? Also, are you positive that on entry ALL true entries must be met? I think this is the reason for the late entries (by the time all conditions have been met, 4 hours have passed...BAM it trades. Either that or it just takes whichever signal "grabs" the ea's attention and trades on it, because I just can't explan the trades it's put me in the last 36hrs... A good point, I have only been usng EA for 36 hours, so take it for what it's worth.

Thanks Glen, Sky, Cry- we will get this thing nailed
  • #2,220
  • Oct 26, 2007 1:42pm Oct 26, 2007 1:42pm
Hi,

I have been using the EA on a live account for 2 days on 1hr charts, I have had little or no profit, my inputs I have posted earlier! can anyone tell me if they are making a decent amount of pips? and what settings they are using? Thanks guys...
2 traders viewing now