Supernova GBP/JPY Mini Trend Catcher
I'll have to watch it again. Pretty sure there were more than 2 candles in a row. I'll let you know. Thanks for explaining how the rules are applied.
Field
EDIT: check post 4486 where I uploaded some screen shots of examples of the PSAR being further back than 2 candles without any candles in the opposite direction. In particular, the screenshots of the GBP/YEN (although this was on beta 5 version, if that makes a difference).
Thanks...
The great thing about this strategy is that by using the indicators + PSAR TS, we already have a great base to build on. It works from M15 to D1 which is amazing. Once we add MM (especially pyramiding) and the ATR based catastrophic loss stop we will have a very safe EA that takes full advantage of winners and protects our account from fast moving markets.Hi Testers,
Well, we got lots of good data last night. I mentioned that we might see some of the downsides in the first 2 weeks to using a single indicator for exits and we did. Most of our open trades were in good shape at the end of the US session, but many went against us later. Under normal circumstances, our money management(PSar TS,etc) would have locked in the profit, but we are specifically testing each indicator to see it's usefulnes (and correctnes)under default settings on it's own. Please check your charts to determine if your indicators look like they operated correctly at the close. The first thing we need to verify is that all of the indicators are working correctly before we get to next week.
Some observations:
1. For shorter TF's, as we would expect, fixed TP's work very well. For longer TF's and any lengthy trend, they limit us greatly as to how much profit we will make. My plan for money management includes the ability to specify an ATR % based scale out routine. It will have an ATR TP % level, and a position % level. If ATR% = 25 and Position% = 100, then the EA will close 100% of the position when 25% OF THE ATR is reached. If ATR% 25 and Position% = 25, then at 25%of ATR the position will be reduced by 25% of the original. At 50% ATR, the position will be reduced by another 25% of the original position. The at 100%ATR the position will be fully closed. All along the way we will move our stops to protect profits. This is scaling out, we will also have scaling in and pyramiding.
2. All of the tests using QQE as the exit did really well. This is good as it is true Supernova. Use of the indicators in conjunction with QQE, as we have all experienced, is the way to go for optimal exits. It might be that the alternate TF option will work even better, but we test that later
3. Most of us took a big hit at market open from low volatility signals. I am going to add a start input that will allow the user to delay the putting on new positions. I personally do no trading until the open of the London session on Monday. Sunday night Asian session is almost always a disaster, plus if China does radical things with monetary policy over the weekend (and they do), the mrket open can be super erratic. This option will allow us to skip the initial madness.
In summary, it is annoying to hobble the EA like we are, but we have to see what is working and what is not. Then we can tune.
Rick
!!
Hallo Rick!
All is safe and sound, which is great! Thanks for the great kick you delivered this project again and not for the last time
I have started to test on another broker, too, as we have so many InterbankFX users here, including me, that the diversification among brokers is not as great as planned. Tradeview is pretty new and I am now running the EA on their Retail platform. Still the beta4 & beta5 accounts are running also, so there is a way to see the progress. Very colourful monitors ...
Have a good day!
Matt
Hi Testers,
Well, we got lots of good data last night. I mentioned that we might see some of the downsides in the first 2 weeks to using a single indicator for exits and we did. Most of our open trades were in good shape at the end of the US session, but many went against us later. Under normal circumstances, our money management(PSar TS,etc) would have locked in the profit, but we are specifically testing each indicator to see it's usefulnes (and correctnes)under default settings on it's own. Please check your charts to determine if your indicators look like they operated correctly at the close. The first thing we need to verify is that all of the indicators are working correctly before we get to next week.
Some observations:
1. For shorter TF's, as we would expect, fixed TP's work very well. For longer TF's and any lengthy trend, they limit us greatly as to how much profit we will make. My plan for money management includes the ability to specify an ATR % based scale out routine. It will have an ATR TP % level, and a position % level. If ATR% = 25 and Position% = 100, then the EA will close 100% of the position when 25% OF THE ATR is reached. If ATR% 25 and Position% = 25, then at 25%of ATR the position will be reduced by 25% of the original. At 50% ATR, the position will be reduced by another 25% of the original position. The at 100%ATR the position will be fully closed. All along the way we will move our stops to protect profits. This is scaling out, we will also have scaling in and pyramiding.
2. All of the tests using QQE as the exit did really well. This is good as it is true Supernova. Use of the indicators in conjunction with QQE, as we have all experienced, is the way to go for optimal exits. It might be that the alternate TF option will work even better, but we test that later
3. Most of us took a big hit at market open from low volatility signals. I am going to add a start input that will allow the user to delay the putting on new positions. I personally do no trading until the open of the London session on Monday. Sunday night Asian session is almost always a disaster, plus if China does radical things with monetary policy over the weekend (and they do), the mrket open can be super erratic. This option will allow us to skip the initial madness.
In summary, it is annoying to hobble the EA like we are, but we have to see what is working and what is not. Then we can tune.
Rick
:Same here to be honest. I have been searching for a good alternative without the stop-hunting and other funny things like 60 pip spreads on EURCAD. I have been on Skype with Dave Manoukian from ATC and he was amazingly friendly (he is the owner) and was willing to work out groupdeals and let them into the PRO platform.
Unfortunately he seems to struggle with his ECN/MT4 connection still and so we are on the same waiting level since November.
Another intersting thing seems to be going on at hotspot FX, as they are going to offer exactly that: ECN over MT4 and they seem to be ready.
And lately I was ticked of by Cryten to look at TradeView Forex, as they too were about to get ready for MT4 combined with all systems you can dream of. So I am using their Retail demo here and will talk to "Will", guess a sells staffer there, during this week.
Interbank really moved into the wrong direction lately and I would not be sorry to leave there.
Greetz!
Matt
The effort that you, Gnat, Glen and Orion have contributed here blows my mind! Thanks you guys, our little money machine is taking serious form.....
Rick, just a little tidbit for (what I can Imagine is a huge pile of notes)...because I have multi platforms sitting idle; I took my set file (psar,psar) and bracketed it with 30m and 4HR--- 30m is whooping 1HR , +100.00 vs. -100.00 add a few zeros and thats a lot of GBP!! (too bad I trade USD; thanks W) No trades on 4HR. Just thought it was worth mentioning......
Same here to be honest. I have been searching for a good alternative without the stop-hunting and other funny things like 60 pip spreads on EURCAD. I have been on Skype with Dave Manoukian from ATC and he was amazingly friendly (he is the owner) and was willing to work out groupdeals and let them into the PRO platform.
Unfortunately he seems to struggle with his ECN/MT4 connection still and so we are on the same waiting level since November.
Another intersting thing seems to be going on at hotspot FX, as they are going to offer exactly that: ECN over MT4 and they seem to be ready.
And lately I was ticked of by Cryten to look at TradeView Forex, as they too were about to get ready for MT4 combined with all systems you can dream of. So I am using their Retail demo here and will talk to "Will", guess a sells staffer there, during this week.
Interbank really moved into the wrong direction lately and I would not be sorry to leave there.
Greetz!
Matt
