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Daily Stochastic Oscillator System

  • #21
  • Jan 14, 2008 10:54pm Jan 14, 2008 10:54pm
how about a elliot oscillator. While i think a 100 pip move a day is unreasonable, and move of 10+spread a day could not be far off.

jms
  • #22
  • Jan 15, 2008 12:09am Jan 15, 2008 12:09am
also is there any reason you choose 9am GMT to place the order and not 8am the london open time?
  • #23
  • Jan 15, 2008 6:39am Jan 15, 2008 6:39am
Quoting nealc99
Objective: To average 100 pips per day each week

Setup: 1hr chart with Stochastic Oscillator set at 7,3,3, Low/High, Simple

Pairs Traded: Figures below are for GBPJPY since it has the bigest swings - havent tested on others, their SL & TP would have to be adjusted.

Trade Execution: At the 9:00 GMT and 13:00 GMT each day place a buy/sell according to the location of the Stochastic.

If the Stoch is BELOW the signal level you would SELL, if above you would BUY.

For EA settings and performance results see next posting.

I would apprecieate any input on refining the process for more optimal results.
Hi nealc99

Thx For sharing

does it matter if the Stoc gives us a buy/Sell signal @ 9:00 GMT and it is above/Below 20/80


Regards
  • #24
  • Jan 15, 2008 9:10am Jan 15, 2008 9:10am
Quoting nealc99
In the process of doing just that.

Most likely will be switching indicators to one that has less lag and better performance.

Will test a few days before releasing a new EA.

It is the Solar Winds indicator (attached).
Solar Winds repaints.
  • #25
  • Jan 15, 2008 9:50am Jan 15, 2008 9:50am
The time to open on the EA is default 1300. I'm using fxdd gmt +2. Should I set the open time on the EA to 1100? Thanks, Paris
I had this set last night but the EA v.2 didn't open any trades.
  • #26
  • Jan 15, 2008 1:13pm Jan 15, 2008 1:13pm
This system is tricky to work with. Ive done some looking around and my experience is to use 8am GMT instead of 9 as this is the true open of london. If a signal is above 80/20 i will ignore it if it gives a signal that doesnt make sense. IE if its at 98 something and says buy still, its weird as i clearly expect it to drop. Also a good secondary indicator is needed to clear fakes and give a cleaner entry. Other than that about 1 or 2 trades since nov were losers.

cheers

PS last night (az time) at 8am the trade easily netted 50 points
  • #27
  • Jan 16, 2008 4:23am Jan 16, 2008 4:23am
Hi nealc99!

Would you please explain your settings? The 7-3-3 is a kind of unusual (instead of 5-3-3). I think you have your reasons to change this. Can you please also explain why you are using median and not closing price?
/ ... clarifying decisions ... /
  • #28
  • Jan 18, 2008 9:54am Jan 18, 2008 9:54am
I'm using another EA on my charts with GBP/JPY. I've found with this daily100 EA that it won't open a trade at the same time if you're already in a trade with the GBP/JPY . Last night the London session EA didn't trigger at all. Is this normal or a quirk? Thanks, Paris
  • #29
  • Jan 18, 2008 11:44am Jan 18, 2008 11:44am
I think this is a good system if we can get the bugs out of the EA. I have it on fxdd and northfinance. No trades were taken last night on the north finance account. Took the new york trade on FXDD but neglected to set the take profit , only the trailing stop . I checked the properties on the EA and I did have the take profit on there but the EA didn't set it. I did get out of the trade with a 145 pip profit but I believe the take profit is 130 pips. I had to close it manually. Thanks, Paris
  • #30
  • Jan 18, 2008 12:06pm Jan 18, 2008 12:06pm
I had this EA running since January 9, and trades were opened on two days.

The 14th and the 17th.

Is there something in the system I'm missing?
  • #31
  • Jan 18, 2008 2:09pm Jan 18, 2008 2:09pm
Quoting Ronald Raygun
I had this EA running since January 9, and trades were opened on two days.

The 14th and the 17th.

Is there something in the system I'm missing?
No sorry, It's me that didn't understand the system. I'll continue practicing with the EA on demo. I just don't undertand why it didn't set the take profit. I did have it set as I checked the properties on the EA and I had it set take profit to 130 but it opened on my chart with no take profit. Thanks again and have a nice weekend. Paris
  • #32
  • Jan 20, 2008 4:15pm Jan 20, 2008 4:15pm
I did back test this method for the month of November GBP/JPY 1 hour chart and got the new york and london combined totals of +715 pips profit. Still very good for about 15 minutes of work per day. But i think we're seeing exaggerated results on the forum here. 20 trades in all with 9 winning and reaching their take profits, 4 hitting the trailing stops and 7 trades outright stopping out. I'll continue some more back testing. Think of a very bad month and I'll back test that one just to see what the damage could be like. Paris
  • #33
  • Jan 20, 2008 7:34pm Jan 20, 2008 7:34pm
I just got done manually testing August on GBP/JPY 1 hour chart both london and new york combined at the hours of 9:00 gmt and 1300 gmt mine is fxdd gmt+2 so it's the same hours as tested. Sorry , I didn't get any 8000 pips like recorded here. I did get a total of +378 pips profit with both time 9:00 and 13:00 combined. 7 trades went to take profit 3 went to trailing stop and 8 stopped out. For a total of 18 trades for the month. Is anyone else getting different or similar results in their backtests? Thanks, Paris
  • #34
  • Jan 21, 2008 7:17am Jan 21, 2008 7:17am
Took a profit of +140 pip take profit hit at 0900 trade. 1300 trade trailing stop activated to bring in +12 more pips profit today. This was using the EA. Paris
  • #35
  • Jan 21, 2008 9:39am Jan 21, 2008 9:39am
my 2 cents on the solar winds indy

id imagine alot of ppl abandon a indy soon as they switch time frames a few times n see that the indy signal you had has dissapeared

if you never switch tf or anything to re initialize the indy it dont repaint

below is a pic of the indy when never touched
a 2nd indy is added fresh to show the diference

bottom line is visually backtesting this indy is useless
unless youv had it on the chart all along
and never restarted mt4 or switched the time frame
so i wouldnt say the indy is useless

also after testing ur ea and then looking at the chart
the indy may not match ur trades because the indy is added after the test

youd need to make a template with the same name as the expert and test in visual mode, or add indy at beginning of test

if you minimize the chart while testing it will go fast as if it does not in visual mode

as you can see in the pic, the real performance of the indy in real life is lagged more

you also get more false signals

but could still be good maybe


Quoting billbss
Solar Winds repaints.
Attached Image (click to enlarge)
Click to Enlarge Name: now2.gif Size: 22 KB
  • #36
  • Jan 21, 2008 11:21am Jan 21, 2008 11:21am
I've used the stochastics oscillator to visually back test this strategy using 7,3,3. Paris
  • #37
  • Jan 21, 2008 6:07pm Jan 21, 2008 6:07pm
Visual manual backtest for December on the 0900 and 1300 times was +534 pips profit. 9 wins of take profit, 9 hitting trailing stop and 10 that stopped out. So far every month I bactested so far with this strategy has been profitable. Paris
  • #38
  • Jan 21, 2008 6:56pm Jan 21, 2008 6:56pm
Paris,

The 0900 and 1300 times that you are using is that the open of London and open of US markets?

Thanks,
dro
  • #39
  • Jan 21, 2008 10:11pm Jan 21, 2008 10:11pm
Quoting dro
Paris,

The 0900 and 1300 times that you are using is that the open of London and open of US markets?

Thanks,
dro
Not absolutely sure. I do know these are times for this system. If your charts are on gmt time then it needs to be 1100 and 1500 to test. I use fxdd.com and their charts are gmt+2, so are North Finance's. Paris
  • #40
  • Jan 22, 2008 7:50am Jan 22, 2008 7:50am
Paris,

I tried this morning at the opening of the US time, which is 1500 on my charts. Set t/p at 100 pips and it was reached before I could get ready to go to work. I have not tried the london open, it would mean me getting up at 3 a.m. just not something I am real interested in doing right now. I think this is a good system for someone that has a day job.

Thanks,
dro
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