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High & Low 8 Hours (GBP/JPY)

  • #1,781
  • Dec 28, 2007 5:33am Dec 28, 2007 5:33am
I've got other stuff that I need to take care of, so I'm going to paste the images a little prematurely and you guys can follow it from there.

I dont use many indicators in my trading, if I do use any, its just MACD and thats for looking out for divergence. I purely trade the price action.

Today, I looked at the Daily EURUSD chart and noticed it had fallan down and raised up quite a bit (% of its fall). Then I looked at the GBPUSD pair, and saw it had fallen down quite a bit as well, infact alot more then the EURUSD pair but it had not gone up as much as the EURUSD pair (in terms of % rise compared to its fall). We have some reversal candles on the Daily chart, some reversal consolidation on the H4 chart over the last week and a push towards the upside. I took my Long position on this pair (GBPUSD) yesterday. There was another long oppertunity today. The market was pointing towards the upside and the pair had made a very tight range on the hourly chart. If I had decided to take another trade, I would have taken a long trade had the market broken out towards the up side for an intra day play.

(I didn't take this trade, coz I already have 4 positions on the EURUSD pair and 1 on EURJPY and 1 on GBPUSD. 6 is the max # of trades I have on my this account at any given day, unless all 6 have their stop loss set to breakeven or better )

I'm swing trading this, but it was a nice little setup for a intra day trade.

I'm attaching the screen shots

P.S: My long entry is based of the H4 and Daily charts, thats why you see my SL a little far and my TP quite a bit out there (you can see them on the daily chart pic)

P.S: I currently positions on the EURUSD pair, I didn't want to reveal them that is why I'm using the EURUSD chart from a MIG demo account.

Hope this helps you guys see such setups for intra day trading in the future.

Saaedb
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 8 KB
Click to Enlarge Name: gbpusd_daily.gif Size: 10 KB
Click to Enlarge Name: gbpusd_h1.gif Size: 15 KB
Click to Enlarge Name: GBPUSD_h2.gif Size: 15 KB
  • #1,782
  • Dec 28, 2007 5:35am Dec 28, 2007 5:35am
Quoting tresorfx
HI saaedb,
what's going wrong with me i put yesterday the EA i activated it and i think i hava parametered it well. but it does'nt work. no order has benn taken automaticaly.
what to you ,is the cause?
Read the Journal/expert tab in the terminal window and see if its giving some errors. Show screen shots of your charts. I can't tell what could be wrong by just reading your statement.
  • #1,783
  • Dec 28, 2007 5:45am Dec 28, 2007 5:45am
Quoting fxramin
you have written 2 setting for EJ which one do you use ?
is this EA just for 2 pairs or for three pairs ?
GBP JPY EUR JPY AND GBP USD
OK?
is there any pirs?
Oops. Sorry. 2nd EJ should have been GU. I have editied the post.

  • #1,784
  • Dec 28, 2007 6:10am Dec 28, 2007 6:10am
I was going over the code and saw a logical mistake. it should not affect the current settings that we are using. it only affects the settings if the values of RangeEnd is greater then RangeStart. If some one has tried that, he probably had some issues.

This EA takes care of that, incase someone wants to use such a setting in the future.

Saaedb
Attached File(s)
File Type: ex4 NicoTinaBreakOut.ex4   26 KB | 950 downloads
  • #1,785
  • Dec 28, 2007 6:30am Dec 28, 2007 6:30am
HI Saaedb,

How does this EA work, i.e if I change the time range to 14:00 to 15:00 hours should I start to see high low numbers showing up on the screen on the top left hand corner, or do they get displayed after the time has finished, as I want to test EA.

Thanks,
Guess

Quoting saaedb
I was going over the code and saw a logical mistake. it should not affect the current settings that we are using. it only affects the settings if the values of RangeEnd is greater then RangeStart. If some one has tried that, he probably had some issues.

This EA takes care of that, incase someone wants to use such a setting in the future.

Saaedb
  • #1,786
  • Dec 28, 2007 6:58am Dec 28, 2007 6:58am
Hi Saaedb,

I saw an option of Trailing Stop in your EA. It looks good, but i would like to suggest a better option so that we can maximise our profit. Is it possible to add a trailing stop after it moves 100pips? let say we put 20pips trailing. It will only trail after we archive 100pips? This way we can just ride the pip and maximise our profit...
  • #1,787
  • Dec 28, 2007 7:47am Dec 28, 2007 7:47am
Quoting joelabu
Hi Saaedb,

I saw an option of Trailing Stop in your EA. It looks good, but i would like to suggest a better option so that we can maximise our profit. Is it possible to add a trailing stop after it moves 100pips? let say we put 20pips trailing. It will only trail after we archive 100pips? This way we can just ride the pip and maximise our profit...
Just set the TrailingStop to 100, it will trail the price 100 pips behind.
  • #1,788
  • Dec 28, 2007 7:48am Dec 28, 2007 7:48am
Quoting guess121
HI Saaedb,

How does this EA work, i.e if I change the time range to 14:00 to 15:00 hours should I start to see high low numbers showing up on the screen on the top left hand corner, or do they get displayed after the time has finished, as I want to test EA.

Thanks,
Guess
It will display that once the RangeEnd time has passed.
  • #1,789
  • Dec 28, 2007 8:09am Dec 28, 2007 8:09am
Ok great...

I get this error...

?!?!?

Quoting saaedb
It will display that once the RangeEnd time has passed.
Attached Image (click to enlarge)
Click to Enlarge Name: error.JPG Size: 133 KB
  • #1,790
  • Dec 28, 2007 9:17am Dec 28, 2007 9:17am
Quoting guess121
Ok great...

I get this error...

?!?!?

Follow this

http://www.forexfactory.com/showpost...&postcount=889
  • #1,791
  • Dec 28, 2007 9:35am Dec 28, 2007 9:35am
Hi Saeedb, I'd like to ask.. is there any way to prevent your EA from opening orders when I start the EA after the range was done ?
I mean, for today, the values are 227.7 and 226.08 (IBFX - 18/2 range).
If I enable EA now, it immediately opens sell order..
And since now the price is well below 226.08, opened positions are quite bad.
Or am I missing something..
Thanks
  • #1,792
  • Dec 28, 2007 10:29am Dec 28, 2007 10:29am
I irritated Saaedb with the same simple questions. It is best to read the thread before you ask about 4109 questions.
Always Stay Positive
  • #1,793
  • Dec 28, 2007 10:53am Dec 28, 2007 10:53am
Quoting zigzig
I irritated Saaedb with the same simple questions. It is best to read the thread before you ask about 4109 questions.
I will second that, endy. Granted, I was lucky when I first came here as the thread was only about half its current length, but reading the thread thoroughly will repay every second you spend doing so. It is not advisable to use an ea until you understand how to use it.

As I recall, the ea is programmed to open trades when you first attach it to a chart, if the price has already broken out of the range the ea calculated. I suspect the only way to avoid this is to attach it just before it is due to calculate the range and place the pending orders.

This feature of the ea caused me some consternation the first time I attached it to a demo chart. I was lucky in that this happened fairly soon after the price broke out and I was rewarded with my first +100.

  • #1,794
  • Dec 28, 2007 11:00am Dec 28, 2007 11:00am
Fair enough, I workarounded this moving PT to just few pips below entry, and that's ok.. so now I'll wait what next days in next year give us.

Take care all.

Quoting SteveHopwood
I will second that, endy. Granted, I was lucky when I first came here as the thread was only about half its current length, but reading the thread thoroughly will repay every second you spend doing so. It is not advisable to use an ea until you understand how to use it.

As I recall, the ea is programmed to open trades when you first attach it to a chart, if the price has already broken out of the range the ea calculated. I suspect the only way to avoid this is to attach it just before it is due to calculate the range and place the pending orders.

This feature of the ea caused me some consternation the first time I attached it to a demo chart. I was lucky in that this happened fairly soon after the price broke out and I was rewarded with my first +100.

  • #1,795
  • Dec 28, 2007 11:20am Dec 28, 2007 11:20am
Quoting saaedb
5:59

Hi Saaedb:

Do you have gmt, range, tp/sl for Usd/jpy, and Eur/Usd, and any other pair you trade please.

Thanks for all the help

Regards
Zee

PS: Gmt for E/J is 21-6?
ZHK
  • #1,796
  • Dec 28, 2007 3:52pm Dec 28, 2007 3:52pm
Quoting endy
Hi Saeedb, I'd like to ask.. is there any way to prevent your EA from opening orders when I start the EA after the range was done ?
I mean, for today, the values are 227.7 and 226.08 (IBFX - 18/2 range).
If I enable EA now, it immediately opens sell order..
And since now the price is well below 226.08, opened positions are quite bad.
Or am I missing something..
Thanks
Attach it at the end of the day (after the EndOfDayCloseCandle)
  • #1,797
  • Dec 28, 2007 3:53pm Dec 28, 2007 3:53pm
Quoting zigzig
I irritated Saaedb with the same simple questions. It is best to read the thread before you ask about 4109 questions.
Yes, reading the whole thread or searching it would help.

http://www.forexfactory.com/showpost...postcount=1174
  • #1,798
  • Dec 28, 2007 10:34pm Dec 28, 2007 10:34pm
Quoting bassmouth
Thanks for doing the extra work for us, fx 97! Your efforts have become quite valuable to anyone who is paying attention.

When setting your 55 stop and 90 limit with 0 buffer, were the stop and limit set from the actual entry point of the trade, or from price on the chart?

In other words, if you got a buy signal, did you set your stop and limit from the price you paid (which would have included the spread at the time of purchase), or just from the price on the chart?

I hope I am being clear - I know what I mean but I am not sure if I am conveying my question clearly.

Also, did you see any runs that were profitable for 2006, based on any parameters? If not, can you give us an idea of what was happening on a typical day that year? If I remember 2006 was more of a steady climb and 2007 was a roller coaster. If this is true, perhaps this system could be improved on a discretionary level by backing off in strongly unidirectional trending periods.

Again, thanks for your great contributions to this thread.

Peace, Greg
Bassmouth,
Sorry for delay, just returned from vacation... Regarding to spread, yes in all my runs it counts for spread since EA is set up this way...
  • #1,799
  • Dec 28, 2007 10:42pm Dec 28, 2007 10:42pm
Quoting saaedb
I was going over the code and saw a logical mistake. it should not affect the current settings that we are using. it only affects the settings if the values of RangeEnd is greater then RangeStart. If some one has tried that, he probably had some issues.

This EA takes care of that, incase someone wants to use such a setting in the future.

Saaedb

Saaedb,
In fact, I did reliaze this issue before when I run my backtest. Thanks for update. In the mean time question for you. I did not know that we have to have our MT4 open in order to have EA places order ( of course when conditions met). So, does it have to have open @ RangeEnd time or some other time that conditions met? If this is true, Is there any way to eliminate that? Say you want EA be able to trade all week with you never opening your computer?
  • #1,800
  • Dec 28, 2007 11:57pm Dec 28, 2007 11:57pm
Quoting Fx97
Saaedb,
In fact, I did reliaze this issue before when I run my backtest. Thanks for update. In the mean time question for you. I did not know that we have to have our MT4 open in order to have EA places order ( of course when conditions met). So, does it have to have open @ RangeEnd time or some other time that conditions met? If this is true, Is there any way to eliminate that? Say you want EA be able to trade all week with you never opening your computer?
EA has to be connected to the internet 24/7 to open and manage the trades. If you can't keep your computer on all the time. I'm sure you can find some service were you can host the EA.
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