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Gann Hilo DMI System

  • #21
  • Dec 5, 2007 7:21am Dec 5, 2007 7:21am
Quoting billbss
What times do you consider the London session?

0800? GMT until?

Thanks
I trade from the start of 07 GMT bar to the start of the 19 GMT bar,

Please note that if I open a trade in this session i dont close it when session ends, only when stop loss is hit, or when price brakes gann hilo. and I hold trades during weekends.

EU, and GU give almost 300 pips today,
Logic will get you from A to B. Imagination will take you everywhere.
  • #22
  • Dec 5, 2007 7:28am Dec 5, 2007 7:28am
masmp
the Gann hilo indicator you have posted .ex can you resend .mq?
thanks
  • #23
  • Dec 5, 2007 7:32am Dec 5, 2007 7:32am
Quoting croesesFX
masmp
the Gann hilo indicator you have posted .ex can you resend .mq?
thanks
Sorry, English not my first language, didn't understood your question.
Logic will get you from A to B. Imagination will take you everywhere.
  • #24
  • Dec 5, 2007 7:38am Dec 5, 2007 7:38am
masmp
when you posted the indicators the DMI was .mq the QQE was .mq but the GannHilo was .ex, can you please resend the GannHilo in .mq?
thanks
  • #25
  • Dec 5, 2007 7:42am Dec 5, 2007 7:42am
Quoting croesesFX
masmp
when you posted the indicators the DMI was .mq the QQE was .mq but the GannHilo was .ex, can you please resend the GannHilo in .mq?
thanks
I don't know if I'm being dumb, but in my meta trader folder I only find the ex4
Logic will get you from A to B. Imagination will take you everywhere.
  • #26
  • Dec 5, 2007 7:50am Dec 5, 2007 7:50am
I`m currently trading on MetaTrader 4 and its not on my platform, unless somebody else knows where to find it
thanks
  • #27
  • Dec 5, 2007 8:32am Dec 5, 2007 8:32am
Quoting croesesFX
I`m currently trading on MetaTrader 4 and its not on my platform, unless somebody else knows where to find it
thanks
Just did a quick search in FF, and everyone has ex4, didn't find the mql, I don't know why you are facing problem using the ex4.
Logic will get you from A to B. Imagination will take you everywhere.
  • #28
  • Dec 5, 2007 8:37am Dec 5, 2007 8:37am
Let me be sure I understand.

Price must move 150 pips before you make a profit. Is that correct?

If it moves 75 pips, you lock in BE.

If it moves another 75 pips, you lock in 75 pips profit.

If, say, it moved only a total of 149 pips then went the other way, you would break even. Is that accurate?
  • #29
  • Dec 5, 2007 8:44am Dec 5, 2007 8:44am
Quoting billbss
Let me be sure I understand.

Price must move 150 pips before you make a profit. Is that correct?

If it moves 75 pips, you lock in BE.

If it moves another 75 pips, you lock in 75 pips profit.

If, say, it moved only a total of 149 pips then went the other way, you would break even. Is that accurate?
In GY Yes, 100 correct, but again I say, those setting can be changed, you can move your trail sooner, use a take profit etc, I shared the settings that I use.
Logic will get you from A to B. Imagination will take you everywhere.
  • #30
  • Dec 5, 2007 10:52am Dec 5, 2007 10:52am
Thanks for sharing this!

Ohka
  • #31
  • Dec 5, 2007 12:25pm Dec 5, 2007 12:25pm
This is what you mean? This transpired just a couple of hours ago. Too bad I got nervous and trailed my stop too fast...
For good measure, I've also uploaded my template file. Enjoy!

bye
Ohka
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 16 KB
Attached File(s)
File Type: tpl hilo-dmi-qqe.tpl   2 KB | 1,341 downloads
  • #32
  • Dec 5, 2007 1:23pm Dec 5, 2007 1:23pm
Quoting Ohka
This is what you mean? This transpired just a couple of hours ago. Too bad I got nervous and trailed my stop too fast...
For good measure, I've also uploaded my template file. Enjoy!

bye
Ohka
Hi, All settings are correct, but I've tested the system only in 4 pairs, AU, EU, GU and GY, but it should work in other currencies with no problem, you just have to do in the minimum 1 year of manual backtesting, to get notion of the most correct Stop Loss, method of trailing your stop and get the felling how the system works.
Logic will get you from A to B. Imagination will take you everywhere.
  • #33
  • Dec 5, 2007 1:43pm Dec 5, 2007 1:43pm
Quoting Masmp_FX
Hi, All settings are correct, but I've tested the system only in 4 pairs, AU, EU, GU and GY, but it should work in other currencies with no problem, you just have to do in the minimum 1 year of manual backtesting, to get notion of the most correct Stop Loss, method of trailing your stop and get the felling how the system works.
Hi Masmp_FX,

assuming that you did those tests for the four pairs you mentioned, can you please give us a rough estimate about the %winners and profit factor you achieved for the pairs? Another thing that interests me is whether you tested this on any other (shorter?) timeframe?

Thanks
Ohka
  • #34
  • Dec 5, 2007 1:59pm Dec 5, 2007 1:59pm
2 things occur to me about your losing example:

1. The QQE is running horizontally at the 50 level immediately prior to your entry. When I've used the QQE I 've preferred to see it move from a higher or lower level so that the strength is clearer to see.

2. The time of day is often a slower one as London winds down. Given point 1 I would have been wary.

Thanks for idea, I will look into it further

Regards
Considering a move to Memphis
  • #35
  • Dec 5, 2007 2:04pm Dec 5, 2007 2:04pm
Quoting Ohka
Hi Masmp_FX,

assuming that you did those tests for the four pairs you mentioned, can you please give us a rough estimate about the %winners and profit factor you achieved for the pairs? Another thing that interests me is whether you tested this on any other (shorter?) timeframe?

Thanks
Ohka

The only pair I have tested That gave-me more than 6000 pips it 11 months of data is GY, other I'm Live trading them with the rules I have in an earlier post, but didn't do any exhaustive test yet, as for winners and losers its depends, some months you have 80% winners, other months a little more than 50%, but I have trades with 400 and 600 pips gain, limited to a 75 pips loss, the only problem that this system haves, is the ranging market, that gives false signals, there are some months that this system faces losses, but applying the system in other currencies fixes almost everything, with no months with losses, I don't like to trade smaller time frames, the tendency for me is to left the 1h charts, and apply only in daily charts, where I can catch trades from 200 to 1500 pips. I hope I answered all your questions.

Regards MASMP_FX
Logic will get you from A to B. Imagination will take you everywhere.
  • #36
  • Dec 5, 2007 2:09pm Dec 5, 2007 2:09pm
Quoting Masmp_FX

ONLY ENTER AT THE CLOSE OF THE CANDLE
Hi Masmp_FX,

something I noticed while I was visually backtesting AUDJPY & EURAUD:

If the Gann HiLow line is pierced with a large movement (breaking the range formed by the prior three candles) in each of these occasions I noticed this:
Entering at the lowest low of the prior three candles (when going short) will get you in earlier without exposing you to additional risk.
I still have to check this for long entries.

Just my 0.02€...

take care
Ohka
  • #37
  • Dec 5, 2007 2:12pm Dec 5, 2007 2:12pm
Quoting Masmp_FX
The only pair I have tested That gave-me more than 6000 pips it 11 months of data is GY, other I'm Live trading them with the rules I have in an earlier post, but didn't do any exhaustive test yet, as for winners and losers its depends, some months you have 80% winners, other months a little more than 50%, but I have trades with 400 and 600 pips gain, limited to a 75 pips loss, the only problem that this system haves, is the ranging market, that gives false signals, there are some months that this system faces losses, but applying the system in other currencies fixes almost everything, with no months with losses, I don't like to trade smaller time frames, the tendency for me is to left the 1h charts, and apply only in daily charts, where I can catch trades from 200 to 1500 pips. I hope I answered all your questions.

Regards MASMP_FX
Masmp_FX,

thanks for your reply, yes that answers most of my questions

As to a ranging market: have you considered to stop taking signals when the current ATR is below a certain level? (perhaps below 1.5 - 2 times your intended profit target, or something similar, you get the idea)

cheers
Ohka
  • #38
  • Dec 5, 2007 2:14pm Dec 5, 2007 2:14pm
Just had another look at post 17 and noticed that if you had used ADX rather than DMI it would have told you that momentum was low at that point. Maybe it is worth considering some kind of momentum indicator.

Regards
Considering a move to Memphis
  • #39
  • Dec 5, 2007 2:28pm Dec 5, 2007 2:28pm
Quoting Ohka
Hi Masmp_FX,

something I noticed while I was visually backtesting AUDJPY & EURAUD:

If the Gann HiLow line is pierced with a large movement (breaking the range formed by the prior three candles) in each of these occasions I noticed this:
Entering at the lowest low of the prior three candles (when going short) will get you in earlier without exposing you to additional risk.
I still have to check this for long entries.

Just my 0.02€...

take care
Ohka
Hi.

I have done many tests changing settings adding indicators, and fixed a hole that was in one month, and created another in one month that was good. Right now I'm working on the tests on other currencies, and Live trading the system too, so I don't have time to verify those things, but do me a favour test yourself the results, and then post them in this thread so I can compare to my tests later.
Maybe this week I will post the results I had in GY, so you can test you self and then compare, But keep in mind that one month or two of tests, is worth nothing, I have done that many times, and start to think that I've got the solution, but when went further to other months that were profitable, they turned into losses.

Regards MASMP_FX
Logic will get you from A to B. Imagination will take you everywhere.
  • #40
  • Dec 5, 2007 2:50pm Dec 5, 2007 2:50pm
I've gone back over a couple of months and this is my 2 cents worth:

Your profits depend on catching one or two huge runs a month.

I wouldn't radically change anything. I sure wouldn't add any indicators. There is a similar system on this forum that has added so many rules and indicators, that it's almost impossible to trade.

I think the time frame needs looking at. I see too many good trades missed because they start an hour or two before 0700.

I think your SL and profit taking definately need looking at. Most of those BEs could give you 20-40 pip profits.

As is, price has to move 150 pips before the trade will give you any profit at all.

A 75 pip SL seems too easy to hit. I think it needs to be increased, or you need to devise a method of reentry after being stopped out.

Many trades start with a 75 pip stop out then go on to move several hundred pips.

These are just my thoughts.
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