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High & Low 8 Hours (GBP/JPY)

  • #1,081
  • Dec 5, 2007 8:36pm Dec 5, 2007 8:36pm
Quoting maestr2
As per Nicotina's instructions:

System: Find the maximum and the minimum between 18:00GTM and 2:00GTM and then put a buy stop order with maximum and a sell stop order with the minimum.
TP 100
SL 50
If close in S/L open again the stop orders.
Close the day if close in S/L for the second time.
Close the day if close in TP.
Do not change the SL and the TP
Closes orders manually only at the end of the day (18:00 GTM).

Thanks for the reply, I'm familiar with the original set of rules. I think Monday someone had mentioned that the high/low was right at 0200 GMT so they were waiting for a retrace. I didn't know if that was common practice for this system or not. I was looking to see what those who have been using this system are doing. Waiting for the retrace or not?

I'll stick with Nico's plan for now, seems solid.
  • #1,082
  • Dec 5, 2007 8:38pm Dec 5, 2007 8:38pm
Hi NP,

thanks.

Hi all,

Did everyone got the same high low ?

Quoting HnP
High : 225.60
low : 223.69

My MT4..

The picture below explain how to get the high and the low for this system. Captured at 10.02 pm EST.
  • #1,083
  • Dec 5, 2007 8:39pm Dec 5, 2007 8:39pm
Quoting maestr2
HNP: Not sure if you are aware that there is an indicator called BOX.mq4 in the attachment section of this thread that draws the box for you.
Thanks bro......... .
  • #1,084
  • Dec 5, 2007 8:40pm Dec 5, 2007 8:40pm
Quoting tjsun80
Hi NP,

thanks.

Hi all,

Did everyone got the same high low ?
225.56
223.77
Trade what you see, not what you think.
  • #1,085
  • Dec 5, 2007 9:19pm Dec 5, 2007 9:19pm
Quoting saaedb
Removed a bug, that was causing the EA not to close trades if we had set the "CloseEndOfDayCandle" to 23. The EA will close all pending orders on a new DailyCandle Open.
Saaedb,
I have couple of questions for you regarding EA parameters and backtesting. Here they are:

1) Would you also consider to add MinRange to the EA? The main purpose for my request is to use it in backtesting and optimization. For example I would like to see and compare results for MinRange is set to say 1 ( which means no effect of MinRange in trading) and MinRange is set to say 70 (which means if MinRange is equal or smaller than 70, EA will not start any trading for that day). Basically same logic for MaxRange

2) Yesterday EA place buy and sell order as it is supposed to be. Then, when buy order became active, it cancelled out sell order. Is it the way it works or something is wrong? ( I should also say that, after first SL, it did start sell order when the requirements were met)

3) I did get historical data from http://www.alpari-idc.com/en/dc/databank.php for GBPJPY_M1, then I foolowed the steps as it explained in MT4's help to update them in history center, and finally use period_converter script in MT4 to create H1 data. My question is, I do only get data from 2004.06.16 to the day. Is it the only data available?

I think running optimization will be very useful to figure out optimized parameters. I am currently trying to learn it and would like to run optimization on your EA.
  • #1,086
  • Dec 5, 2007 9:20pm Dec 5, 2007 9:20pm
Quoting maestr2
225.56
223.77
I can tell by your low that you are starting to look an hour late. The window starts at 1800 GMT
  • #1,087
  • Dec 5, 2007 9:23pm Dec 5, 2007 9:23pm
Quoting Templar
Thanks for the reply, I'm familiar with the original set of rules. I think Monday someone had mentioned that the high/low was right at 0200 GMT so they were waiting for a retrace. I didn't know if that was common practice for this system or not. I was looking to see what those who have been using this system are doing. Waiting for the retrace or not?

I'll stick with Nico's plan for now, seems solid.
When I posted the prices Sunday, the low had already been broken.
I said it wouldn't hurt to wait for it to retrace. I think that may actually be a safer entry although it isn't part of the system.
  • #1,088
  • Dec 5, 2007 9:54pm Dec 5, 2007 9:54pm
Quoting Fx97
Saaedb,
I have couple of questions for you regarding EA parameters and backtesting. Here they are:

1) Would you also consider to add MinRange to the EA? The main purpose for my request is to use it in backtesting and optimization. For example I would like to see and compare results for MinRange is set to say 1 ( which means no effect of MinRange in trading) and MinRange is set to say 70 (which means if MinRange is equal or smaller than 70, EA will not start any trading for that day). Basically same logic for MaxRange

2) Yesterday EA place buy and sell order as it is supposed to be. Then, when buy order became active, it cancelled out sell order. Is it the way it works or something is wrong? ( I should also say that, after first SL, it did start sell order when the requirements were met)

3) I did get historical data from http://www.alpari-idc.com/en/dc/databank.php for GBPJPY_M1, then I foolowed the steps as it explained in MT4's help to update them in history center, and finally use period_converter script in MT4 to create H1 data. My question is, I do only get data from 2004.06.16 to the day. Is it the only data available?

I think running optimization will be very useful to figure out optimized parameters. I am currently trying to learn it and would like to run optimization on your EA.
To question 1)
Since we are trading a breakout system, the tighter the range the better the probability for the break out to work in our favor, so MaxRange should be good enough. But when I get some time I will add the MinRange Parameter for you, some time tonight. Thought, I must recommend, too much curv fitting isn't good for the EA.

Question 2)
Yes, thats normal. Once one of the pending order becomes a market order, teh EA remove the the other side of the order, to protect against instances when the range is too small and the two orders are with in the STOP range of each other. It could cause two orders to kick. When the first order that was filled is closed either at a TP or SL, the second order is placed or not placed according to that.

Question 3), Alpari data is the only reliable data that I know of. You could download the data from meta quote for a longer time, but I dont know how reliable that is.
  • #1,089
  • Dec 5, 2007 10:28pm Dec 5, 2007 10:28pm
Quoting billbss
I can tell by your low that you are starting to look an hour late. The window starts at 1800 GMT
Hi Billbss: I use IBFX which is on GMT time and I have it set for 18 and 2 as per the strategy. My low occurred on 1 hr chart at 19:30 but when I go to 1 min chart the low showed as 223.68
Don't know why the difference but my time setting appears to be right.
Trade what you see, not what you think.
  • #1,090
  • Dec 5, 2007 10:34pm Dec 5, 2007 10:34pm
Quoting saaedb
To question 1)
Since we are trading a breakout system, the tighter the range the better the probability for the break out to work in our favor, so MaxRange should be good enough. But when I get some time I will add the MinRange Parameter for you, some time tonight. Thought, I must recommend, too much curv fitting isn't good for the EA.

Question 2)
Yes, thats normal. Once one of the pending order becomes a market order, teh EA remove the the other side of the order, to protect against instances when the range is too small and the two orders are with in the STOP range of each other. It could cause two orders to kick. When the first order that was filled is closed either at a TP or SL, the second order is placed or not placed according to that.

Question 3), Alpari data is the only reliable data that I know of. You could download the data from meta quote for a longer time, but I dont know how reliable that is.
Saaedb,
Thanks for quick feedback. You are great...So, my thought about the MinRange is since the range is small, say 50-60, I think the possibilities are that it will break in one side and will change its direction withour moving too much... Anyway, Thanks for adding this in..
  • #1,091
  • Dec 5, 2007 10:38pm Dec 5, 2007 10:38pm
Quoting maestr2
Hi Billbss: I use IBFX which is on GMT time and I have it set for 18 and 2 as per the strategy. My low occurred on 1 hr chart at 19:30 but when I go to 1 min chart the low showed as 223.68
Don't know why the difference but my time setting appears to be right.
Your time should be RageStart: 18; RageEnd : 1
  • #1,092
  • Dec 5, 2007 10:41pm Dec 5, 2007 10:41pm
A New MinRange parameter add as per request.
Attached File(s)
File Type: ex4 NicoTinaBreakOut.ex4   25 KB | 431 downloads
  • #1,093
  • Dec 5, 2007 10:45pm Dec 5, 2007 10:45pm
Quoting saaedb
Hmmm... Markets do change, but from my understanding they change over a long haul.
Thanks, Saaedb.

Vbro
  • #1,094
  • Dec 5, 2007 10:54pm Dec 5, 2007 10:54pm
Quoting billbss
When I posted the prices Sunday, the low had already been broken.
I said it wouldn't hurt to wait for it to retrace. I think that may actually be a safer entry although it isn't part of the system.
Thanks billbss for your input! I appreciate it! Your post is why I asked the question about waiting, I know it wasn't part of the original rules but I wanted to see what you guys who have been doing this system thought to be the best practice.

Like I mentioned earlier this is my first week using Nicos system and I really like it. I was just trying to find out some of the finer details from you and others who are more experienced with this system. This thread is getting long ( which is great ) and I wasn't sure how far the system was tweaked from the original plan.

Once again thanks for your input! It is greatly appreciated!
  • #1,095
  • Dec 5, 2007 10:58pm Dec 5, 2007 10:58pm
Hi Saaedb,

I've got your ex4 file into the experts file, and it's showing up in my navigator window, but it's grey. I think this means it's not compiled, but when I open meta editor to try to compile it, there's no experts file.

Any ideas?

Thanks,

VBro
  • #1,096
  • Dec 5, 2007 11:02pm Dec 5, 2007 11:02pm
Quoting maestr2
Hi Billbss: I use IBFX which is on GMT time and I have it set for 18 and 2 as per the strategy. My low occurred on 1 hr chart at 19:30 but when I go to 1 min chart the low showed as 223.68
Don't know why the difference but my time setting appears to be right.
I use IBFX also. If you look at a 1H chart and check the low of the 1800 bar, it is 223.68. That is the low we use.
  • #1,097
  • Dec 5, 2007 11:08pm Dec 5, 2007 11:08pm
Quoting billbss
I use IBFX also. If you look at a 1H chart and check the low of the 1800 bar, it is 223.68. That is the low we use.
Hi Billbss: I use the Box indicator from this thread. Don't know why it didn't pick up this low. It does if I switch to 1 minute chart but as soon as I switch to any other it doesn't
Trade what you see, not what you think.
  • #1,098
  • Dec 5, 2007 11:12pm Dec 5, 2007 11:12pm
Quoting vbro
Hi Saaedb,

I've got your ex4 file into the experts file, and it's showing up in my navigator window, but it's grey. I think this means it's not compiled, but when I open meta editor to try to compile it, there's no experts file.

Any ideas?

Thanks,

VBro
it's going to be grey, it just means you dont have the source code. Dont worry about that.
  • #1,099
  • Dec 5, 2007 11:19pm Dec 5, 2007 11:19pm
Quoting saaedb
it's going to be grey, it just means you dont have the source code. Dont worry about that.
Gracias.
  • #1,100
  • Dec 5, 2007 11:55pm Dec 5, 2007 11:55pm
Quoting mexicomike
I am on fxdd. today i lost data from 04:00 to 06:00 on the 1 hour chart on at least 4 pairs that i am following. Did anyone else have this experience? I would be interested in knowing what happened if anyone knows.
thanks
Mike
I have FXDD as well. They were upgrading their hardware / software. We did loose data feed for some time.
Haste not to Enter AND Haste not to Exit !-TradeStar
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