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Trend Follower 5 Minute System

  • #1,561
  • Mar 20, 2008 5:53pm Mar 20, 2008 5:53pm
Alistair and Skyscraper.

This manual suggested by Dutchy is a great read and I think it provides the basis of using indicators and mathematics to extablish good exit strategies.

A bit long winded, especially at the beginning but a very good read.

It also appears taht this strategy is used for Longer Term Trades so may not be applicable to our 5 MInute Wicker system.

Thanks again Dutchy and hope that some of us can come up with some sound exit startegies.

Tadinda

I am attaching it here to make it easier to find and read.
Attached File(s)
File Type: pdf Not So Squeezy Manual.pdf   815 KB | 1,897 downloads
  • #1,562
  • Mar 20, 2008 5:55pm Mar 20, 2008 5:55pm
Quoting FxFocus
I am getting very confused trying to work out why I wasn't confused before all the recent activity designed to make it less confusing but now I am confused...

Hi,

Which is the part which is confusing?

Tadinda
  • #1,563
  • Mar 20, 2008 6:48pm Mar 20, 2008 6:48pm
I will be testing the EA also guys, so you can count me in.

I'll post up my results for my pips also at the end of the london trading session tomorrow, or just after for you all to see as i trade from 8am till about 5pm ish roughly.

thanks skyscraper for your hard work and effort in this. I use the wicker system everyday to confirm trades, and have been for a few months now, but this has just made it much more interesting now. So thank you firstly.

Also, will the EA work fine with the 2 lags on my charts? E.g., the 0.66 and 0.8 lags? Which one of these will it check? I wasn't too sure about which laguerre setting it checks, hope it checks the 0.66 lag though

I trade around 12-13 pairs. Will post my results tomorrow hopefully. I will be testing with ADX switched on just so you know, BUT, i constantly monitor all my trades and look at my charts so i'll let you know what the best settings seem to be soon after it takes up enough trades.

God bless. Thanks Al and Tadina for helping reviving this thread.
  • #1,564
  • Mar 20, 2008 7:09pm Mar 20, 2008 7:09pm
Quoting tadinda
Hi,

Which is the part which is confusing?

Tadinda
All the parts not mentioned by thewicker as by definition they can't be part of TheWicker's system.
  • #1,565
  • Mar 20, 2008 7:25pm Mar 20, 2008 7:25pm
It will work fine. You can have as many legs in your chart. EA does calculation internally on its own..
Please post your result..
Quoting WilteredFire
I will be testing the EA also guys, so you can count me in.

I'll post up my results for my pips also at the end of the london trading session tomorrow, or just after for you all to see as i trade from 8am till about 5pm ish roughly.

thanks skyscraper for your hard work and effort in this. I use the wicker system everyday to confirm trades, and have been for a few months now, but this has just made it much more interesting now. So thank you firstly.

Also, will the EA work fine with the 2 lags on my charts? E.g., the 0.66 and 0.8 lags? Which one of these will it check? I wasn't too sure about which laguerre setting it checks, hope it checks the 0.66 lag though

I trade around 12-13 pairs. Will post my results tomorrow hopefully. I will be testing with ADX switched on just so you know, BUT, i constantly monitor all my trades and look at my charts so i'll let you know what the best settings seem to be soon after it takes up enough trades.

God bless. Thanks Al and Tadina for helping reviving this thread.
  • #1,566
  • Edited 8:48pm Mar 20, 2008 8:10pm | Edited 8:48pm
http://i31.tinypic.com/jzv1p1.jpg

Hello Sky,

I am also trying out the signalterndfollwerV1.0, and I want to know that, at what condition EA will 'auto' open the position??

Thx in advance,,,I am willing to test out this gr8 system too...

sonic
  • #1,567
  • Mar 20, 2008 9:51pm Mar 20, 2008 9:51pm
I received some PM and general question about EA description. SO here is short and sweet description More you will understand when you run it with forward testing.

General description about EA.

1)
Long Position ( ADX Filter = False)
Signal = Long , Slope = long, MACD=long, Laguerre=Long, Guppy=Long ( ignore ADX value)
Long Position ( ADX Filter = True)
Signal = Long , Slope = long, MACD=long, Laguerre=Long, Guppy=Long ADX= Long

2)
Short Position ( ADX Filter = False)
Signal = Short, Slope = Short, MACD=Short, Laguerre=Short, Guppy=Short (ignore ADX Value)
ShortPosition ( ADX Filter = True)
Signal = Short, Slope = Short, MACD=Short, Laguerre=Long, Short=Long ADX= Short

Please test the EA in two time frame. M1 and M5 with two scenario in each time frame.
1) M1 ( with ADX filter) and
M1 ( without ADX filter)


Stoploss= 40 except GJ ( for gj use 60 or whatever u think the best)

You can run this by setting TakeProfit=50 or 100 or so make risk to reward ratio 1:2, no less than 1:1.

2)


Stoploss= 40 except GJ ( for gj use 70 or whatever u think the best)
M5 ( with ADX filter)
M5 ( without ADX filter)

EA will close the 50% of lot with the profit define in iTPIncrement. After the 50% profit, it will set the stop loss to BE. The remianing 50 % will be close based on TakeProfit Value. If the TakeProfit value is 0 then it will run forever until the opposite signal occur or you close it manually.
Setting TakeProfit is always good idea when you are not sure about trend market. It also set a discipline when to exit. In this system you can always reenter, EA will do that.
The trick in range market is get your profit early instead of getting griddy and losing all the profit what we have got.


So four or five or as many folks here take one or two criteria and run at least for 15 days, but do post your result everyday. Remember focus on this two time frame and ADX filter true or false and run it set of 5 to 9 pair. like

GBP/JPY, GBP/CHF,EUR/USD,USD/CHF,EUR/CHF,GBP/USD etc .. you can add as many pair as you want.


Any system is good if it can give us consistent profit with less draw down but we need to work on that.

I don't want to introduce too many filters and get confuse. So lets run the EA with different setting for next couple of week.

Provide your feedback so we can make this a better system

  • #1,568
  • Mar 20, 2008 10:03pm Mar 20, 2008 10:03pm
Hi Skyscraper,

Thanks for sharing....will try out the EA...

Btw, can see that you are still online? Are you from Asia?
  • #1,569
  • Mar 20, 2008 10:32pm Mar 20, 2008 10:32pm
Quoting WilteredFire
I will be testing the EA also guys, so you can count me in.

I'll post up my results for my pips also at the end of the london trading session tomorrow, or just after for you all to see as i trade from 8am till about 5pm ish roughly.

thanks skyscraper for your hard work and effort in this. I use the wicker system everyday to confirm trades, and have been for a few months now, but this has just made it much more interesting now. So thank you firstly.

Also, will the EA work fine with the 2 lags on my charts? E.g., the 0.66 and 0.8 lags? Which one of these will it check? I wasn't too sure about which laguerre setting it checks, hope it checks the 0.66 lag though

I trade around 12-13 pairs. Will post my results tomorrow hopefully. I will be testing with ADX switched on just so you know, BUT, i constantly monitor all my trades and look at my charts so i'll let you know what the best settings seem to be soon after it takes up enough trades.

God bless. Thanks Al and Tadina for helping reviving this thread.

Thank You WilteredFire for your contribution. WE will be confirming notes tomorrow.

I am writing this at 04:30 am (GMT +1). So far during the night no Trades have been undertaken.

Tadinda
  • #1,570
  • Mar 20, 2008 10:52pm Mar 20, 2008 10:52pm
Guys,,

I m fr Singapore!!!


http://i28.tinypic.com/33lgy14.jpg
Bro sky,

when Laguere will become 'Long' at what value??


thx
sonic
  • #1,571
  • Mar 20, 2008 10:55pm Mar 20, 2008 10:55pm
Quoting FxFocus
All the parts not mentioned by thewicker as by definition they can't be part of TheWicker's system.

Hello All,

Fx Forex has raised an issue. In that how are we talking about the Wicker System when we are tweaking it?

A fair enough question which surely deserves an answer.

1. I have not seen in this thread any condemnation from the Wicker to anybody who has tried to make his system, if I may use the term, Better. In fact he cautions against machines running our Trades, He steadfastly believes in the Human element. But he has never condemned any improvement.
2. To the contrary. When a development was suggested which was to his liking and was genuinely geared towards improving it he encouraged such development and even, at one stage suggested that he will adopt it.
3. What has been done so far on this Thread, as far as I can tell?
a. Numerous attempts have been made to build a good solid EA to take the eyeballing of every chart after the Wicker System generates the alert.
b. I am sorry to say but the situation got so confusing that there are about 5 different EA's all with different functions (but the same goal) and to find these one has to go throughout the whole thread. And after making an uninformed choice about which one to choose is left hanging in the air as questions asked or explanations required were not given.
3. What are we attempting to do? By we I am meaning the Skyscraper more than anybody else, and anybody who is willing to help in his or her way.
a. WE got the original EA produced by pmurfin and cleaned it, and got it to the stage of it being an auto trader. The work of pmurfin was lauded by the Wicker and I am certain he will bless the work of Skyscraper save for his reluctance to let machines enter and exit trades. But that is why Skyscraper wisely set this up as an option.
b. We are testing filters for the Wicker system to make it better, stronger and much more profitable. The Wicker uses his experience, his knowledge etc to decide which trades to enter. Not all of us have have the same experience and know how to decide which is the most suitable and profitable trade to take. So we have to rely on indicators and mathematics to help us out. Once again the filters which are being built are all options. You either have them work for you or not. Again I cannot imagine the Wicker not blessing such fantastic work.
c. Finally, the ultimate goal is to have all of this tested and put into a format which is well explained and easily accessible to everybody. Hopefully, it would find such definitive support from the Wicker that he will even post it on his web site. However, I certainly do not wish any newcomer to this thread to have to go through over 1500 posts to try to make heads or tails of the Wicker System. Like I and many others had to do. I do not think that such a laborious exercise was intended by the Wicker who shared this system freely for any newbie to try out his system.


That is all I have to say. In conclusion I have to thank once again the Skyscraper, ACartwright and others who are contributing their time and knowledge to continue the work of the Wicker to share his system to new traders with as little fuss as possible and with the secure knowledge that others have tested any enhancement for their peace of mind.

tadinda
  • #1,572
  • Mar 20, 2008 11:10pm Mar 20, 2008 11:10pm
Dear All,

IN one of his recent posts teh Skyscraper has said teh following:

Quote

It will not open multiple trade. It will close the one which is running and then only it will open the other one.
So, if you are in buy order, and you get a signal for sell. It will close the buy order and open a sell order for you.
Also it uses magic number. So you can run multiple EA on different chart with different magic number with it.

Unquote

I have underlines the part which needs some explanation to technical idiots such as myself.

Skyscraper is already doing a lot for us. So if there is someone else who knows the functionality of this and what its objectives are, we wouild appreciate an explanation to help us understand and appreciate the work of Skyscraper better.

Thanks
tadinda
  • #1,573
  • Mar 20, 2008 11:19pm Mar 20, 2008 11:19pm
Quoting skyscraper
I received some PM and general question about EA description. SO here is short and sweet description More you will understand when you run it with forward testing.

General description about EA.

1)
Long Position ( ADX Filter = False)
Signal = Long , Slope = long, MACD=long, Laguerre=Long, Guppy=Long ( ignore ADX value)
Long Position ( ADX Filter = True)
Signal = Long , Slope = long, MACD=long, Laguerre=Long, Guppy=Long ADX= Long

2)
Short Position ( ADX Filter = False)
Signal = Short, Slope = Short, MACD=Short, Laguerre=Short, Guppy=Short (ignore ADX Value)
ShortPosition ( ADX Filter = True)

Signal = Short, Slope = Short, MACD=Short, Laguerre=Long, Short=Long ADX= Short

Please test the EA in two time frame. M1 and M5 with two scenario in each time frame.


1) M1 ( with ADX filter) and


M1 ( without ADX filter)


Stoploss= 40 except GJ ( for gj use 60 or whatever u think the best)



You can run this by setting TakeProfit=50 or 100 or so make risk to reward ratio 1:2, no less than 1:1.



2)


Stoploss= 40 except GJ ( for gj use 70 or whatever u think the best)


M5 ( with ADX filter)


M5 ( without ADX filter)

EA will close the 50% of lot with the profit define in iTPIncrement. After the 50% profit, it will set the stop loss to BE. The remianing 50 % will be close based on TakeProfit Value. If the TakeProfit value is 0 then it will run forever until the opposite signal occur or you close it manually.
Setting TakeProfit is always good idea when you are not sure about trend market. It also set a discipline when to exit. In this system you can always reenter, EA will do that.
The trick in range market is get your profit early instead of getting griddy and losing all the profit what we have got.


So four or five or as many folks here take one or two criteria and run at least for 15 days, but do post your result everyday. Remember focus on this two time frame and ADX filter true or false and run it set of 5 to 9 pair. like

GBP/JPY, GBP/CHF,EUR/USD,USD/CHF,EUR/CHF,GBP/USD etc .. you can add as many pair as you want.


Any system is good if it can give us consistent profit with less draw down but we need to work on that.



I don't want to introduce too many filters and get confuse. So lets run the EA with different setting for next couple of week.



Provide your feedback so we can make this a better system


Thanks Skyscraper for the explanation.

Let us get some order into testing.

I shall be testing the EA on the 5 MIn Time Frame with the ADX filter ON.

ACartwright is testing the EA on the 5Min Time Frame with the ADX Filter set to off.

We need two people:

One to run the EA in the 1 MIn Time Frame with ADX filter ON. May I suggest Sonic

Two to run the EA in teh 1 Min Time Frame with ADX Filter OFF. May I suggest Wiltedfire.

In this way we will be achieveing the tests which Skyscraper wants to see.

Please let me know.

Thanks
tadinda
  • #1,574
  • Mar 20, 2008 11:31pm Mar 20, 2008 11:31pm
Hi,

May I know what does the below value mean? What does 1.5431 mean? Thanks..

http://i8.photobucket.com/albums/a36/joschia/EA1.jpg
  • #1,575
  • Mar 20, 2008 11:33pm Mar 20, 2008 11:33pm
What I mean by Multiple EA on the same pair.
So you can open two chart of g/j and attached the EA on each chart. Assign different magic number on each.
so in one chart you can set iTpIncreamet= 30 and TakeProfit=50
and in other chart a different combination. Like that you can run EA on pair in different time frame and different settings.
Quoting tadinda
Dear All,

IN one of his recent posts teh Skyscraper has said teh following:

Quote

It will not open multiple trade. It will close the one which is running and then only it will open the other one.
So, if you are in buy order, and you get a signal for sell. It will close the buy order and open a sell order for you.
Also it uses magic number. So you can run multiple EA on different chart with different magic number with it.

Unquote

I have underlines the part which needs some explanation to technical idiots such as myself.

Skyscraper is already doing a lot for us. So if there is someone else who knows the functionality of this and what its objectives are, we wouild appreciate an explanation to help us understand and appreciate the work of Skyscraper better.

Thanks
tadinda
  • #1,576
  • Edited Mar 21, 2008 12:12am Mar 20, 2008 11:38pm | Edited Mar 21, 2008 12:12am
Quoting tadinda

One to run the EA in the 1 MIn Time Frame with ADX filter ON. May I suggest Sonic


Please let me know.

Thanks
tadinda
u get it!!!
I am letting it on!!
WHICH pair do u suggest??
Me mostly USDJPY...
  • #1,577
  • Mar 21, 2008 12:06am Mar 21, 2008 12:06am
Quoting tadinda
Thanks Skyscraper for the explanation.

Let us get some order into testing.

I shall be testing the EA on the 5 MIn Time Frame with the ADX filter ON.

ACartwright is testing the EA on the 5Min Time Frame with the ADX Filter set to off.

We need two people:

One to run the EA in the 1 MIn Time Frame with ADX filter ON. May I suggest Sonic

Two to run the EA in teh 1 Min Time Frame with ADX Filter OFF. May I suggest Wiltedfire.

In this way we will be achieveing the tests which Skyscraper wants to see.

Please let me know.

Thanks
tadinda

Hello All,

After reading in more depth the posting by Skyscraper NUmber 1567, I shall be running tests as follows:

1. On the 5 MIn Time Frame with Take Profit set as a number of Pips.
2. On the 5 MIn Time Frame with Take Profit set as 0.

Attached please find the settings for each CUrrency Pair.

All other settings as Default, except put Alerts to True.

Am not certain if I need to change any other Criteria. If so someone please advise.

Regards
Tadinda
Attached File(s)
File Type: xls Criteria 5Min.xls   24 KB | 719 downloads
  • #1,578
  • Mar 21, 2008 12:13am Mar 21, 2008 12:13am
Quoting skyscraper
What I mean by Multiple EA on the same pair.
So you can open two chart of g/j and attached the EA on each chart. Assign different magic number on each.
so in one chart you can set iTpIncreamet= 30 and TakeProfit=50
and in other chart a different combination. Like that you can run EA on pair in different time frame and different settings.

Thanks Skyscraper,

So if you saw my last post with the parameters attached for teh test I am running you will immediately see that I have two charts of the same pair running differently. One with a TP setting set in Pips. The other with a TP setting set as 0.

I think I am understanding correctly in that I have to set a different Magic Number in the Parmeters for each chart of teh same pair for your EA to work properly.

Will do immediately and repost my parameters.

Thanks
Tadinda
  • #1,579
  • Mar 21, 2008 12:35am Mar 21, 2008 12:35am
Hello All,

Following the explanation of the use of Magic Number by Skyscraper, I am reposting my fresh parameters for the tests which I shall be undertaking.

Thanks
tadinda
Attached File(s)
File Type: xls Criteria 5Min.xls   24 KB | 664 downloads
  • #1,580
  • Mar 21, 2008 12:37am Mar 21, 2008 12:37am
Quoting sonicdeejay
u get it!!!
I am letting it on!!
WHICH pair do u suggest??
Me mostly USDJPY...
Sonic

Please see my post 1579 for details.

Thanks
Tadinda
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