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Trend Follower 5 Minute System

  • #1,721
  • Mar 23, 2008 12:06pm Mar 23, 2008 12:06pm
Sky,

Attached you will find the excel sheet with the 1 Hr Time Frame updated.

Would greatly appreciate if you were to supply me with the iTPIncrement for each time frame so that I would start new tests and continue with the 30 MIn Time Frame.

Thanks
Tadinda
Attached File(s)
File Type: xls Backtesting.xls   241 KB | 1,087 downloads
  • #1,722
  • Mar 23, 2008 12:34pm Mar 23, 2008 12:34pm
Sky,

In the testing so far the above setting for all non Yen Pairs is 40.

Do you want me to reduce it to 30?

Tadinda
  • #1,723
  • Mar 23, 2008 3:31pm Mar 23, 2008 3:31pm
Sky and others helping on teh EA.

As you know I have been extensively testing the EA.
I was getting worried becasue one aspect of the original Wicker we did not consider in the pragramming of the EA and I was certainly not considering in my testing. The timing of the market.

Now I have taken a Pair and one time Frame and did a detailed analysis of the Trades. It became very apparent that most of the losses where occurring outside UK and outside US Market Hours.

Consequenlt, I think that to move this forward properly we have to proagramme within the EA timings of the market. If the timing of the signal occurs between open of UK Market and Close of USA Market then the signal will be valid. If not it should not be a signal at all.

In view that there would eb a variety of people from different countries I suggest the timing programming should be able to be flexible. In that for example:

I am in Malta. Our Time is GMT (Greenich Mean Time) +1. Therefore when the UK markets open at say 08:00 the time here would be 09:00. Similarily when the US closes say at 16:00 EST, that would be around 22:00 here. Therefore a parameter would need to be inserted to establish the timing of the various brokers. Something like + or - a number away from GMT.

Look forward to hearing from you. Meantime I have suspended all testing I was doing until such time I hear from you on this.

Thanks
  • #1,724
  • Mar 23, 2008 4:53pm Mar 23, 2008 4:53pm
I have added Entry Time and Exit Time Parameter, This is GMT time remember. So it will open trade only after the entry time, after the exit time it will close all open trade.
Entry time =0 then means GMT 0.
If you set exit time =0 then it will not close the trade..

I haven't did forward testing this one.. So lets test it today. This EA is version number 1.2/

Quoting tadinda
Sky and others helping on teh EA.

As you know I have been extensively testing the EA.
I was getting worried becasue one aspect of the original Wicker we did not consider in the pragramming of the EA and I was certainly not considering in my testing. The timing of the market.

Now I have taken a Pair and one time Frame and did a detailed analysis of the Trades. It became very apparent that most of the losses where occurring outside UK and outside US Market Hours.

Consequenlt, I think that to move this forward properly we have to proagramme within the EA timings of the market. If the timing of the signal occurs between open of UK Market and Close of USA Market then the signal will be valid. If not it should not be a signal at all.

In view that there would eb a variety of people from different countries I suggest the timing programming should be able to be flexible. In that for example:

I am in Malta. Our Time is GMT (Greenich Mean Time) +1. Therefore when the UK markets open at say 08:00 the time here would be 09:00. Similarily when the US closes say at 16:00 EST, that would be around 22:00 here. Therefore a parameter would need to be inserted to establish the timing of the various brokers. Something like + or - a number away from GMT.

Look forward to hearing from you. Meantime I have suspended all testing I was doing until such time I hear from you on this.

Thanks
Attached File(s)
File Type: mq4 SignalTrendFollowerEA-V1.2.mq4   25 KB | 1,727 downloads
  • #1,725
  • Mar 23, 2008 4:54pm Mar 23, 2008 4:54pm
Yes..
Quoting tadinda
Sky,

In the testing so far the above setting for all non Yen Pairs is 40.

Do you want me to reduce it to 30?

Tadinda
  • #1,726
  • Mar 23, 2008 7:34pm Mar 23, 2008 7:34pm
Quoting skyscraper
Yes..
Thanks Sky. Will do.
  • #1,727
  • Mar 23, 2008 8:08pm Mar 23, 2008 8:08pm
Can anyone please show some results using the newest ea to take trades ?
  • #1,728
  • Mar 24, 2008 12:53am Mar 24, 2008 12:53am
Quoting fxj
I have followed this thread from its inception and look forward to the improvement of the EA. My ultimate respect and admiration for all of you involved in that labor and thought intensive endeavor. It occurred to me that the exit strategy is one of the ultimate issues to be resolved(as discussed earlier). In this regard, I refer you to another thread,"Simple method of Scalping any pair on 5 minute chart-by Imran Sait" http://www.forexfactory.com/showthread.php?t=48926
The major difference btween Wicker's methodology and Imran's besides the Guppy and different EMA crossovers is Imran's use of a stoichistic indicator (which I have found allows entering a trade earlier - sometimes) and the use of a second Laguerre for exits. I have found this works. The first Lag is set at .6, the second at .8; levels to watch are .15 and .85 (rather than.75) I have combined the best of both systems with some success however I only add this post as a suggestion as to exit strategy. The .8 Lag is used for exits and distance, horizontally(on graph) between Lag1 and Lag2 indicates strength of trend. For all who get unnerved by someone trying to change, add to, hijack or otherwise amend Wicker's system get a grip, I am only trying to help.
Thank you for your contribution.

Currently as you may have noticed we are trying to get the new Ea to work perfectly on entries and we are constantly testing.

We should be getting to exit startegies shortly.

May I suggest you hand on to this thread and keep on following it, and once we are into exit startegies bring the point back up. CUrrently we are overwhelmed with testing. IF you can help in this it would be most appreciated.

tadinda
  • #1,729
  • Mar 24, 2008 8:02am Mar 24, 2008 8:02am
Hi all!
Does anyone know what happen with chat room at paltalk?
Is The Wicker still here for answeres or he abandoned that thread due to many EA mess?
  • #1,730
  • Mar 24, 2008 8:51am Mar 24, 2008 8:51am
Quoting pilatus
Hi all!
Does anyone know what happen with chat room at paltalk?
Is The Wicker still here for answeres or he abandoned that thread due to many EA mess?
Hello Pilatus,

I cannot answer for teh organisers of teh chat room or for the Wicker. However, I can certainly answer for teh activity regarding teh EA's

I would certainly not call it a mess. If you bothered to read all of teh contributions and follow teh development of the EA you woudl certainly not call it a mess.

I have said it before in this thread and wil not repeat myself what we are endevouring through very hard work to achieve. IF you want to update yoruself you are more than free to go through the thread and educate yourself appropriately.

However, I would certainly not call it a mess.

The work which is being dome by some of us here, such as Skyscraper, DEzil, and many others does not deserve unresearched blacket statements such as teh one you have made.

tadinda
  • #1,731
  • Mar 24, 2008 9:39am Mar 24, 2008 9:39am
Tadinda!
First of all I read this thread from its starting. Second I DID NOT mean in bad context. Third I appreciate your and yours friend work on EA. But I am little afraid that The Wciker abanodned this thread because right now is far away from its first direction.
Now, without bad feeling I found some interesting things that can filter bad trades. If it is someone interesting I will post my opinion and chart of bad examples and explanations.
P.S. Do not allow you self to get emotional. Trading is a job where emotion will kill your account.
  • #1,732
  • Mar 24, 2008 9:56am Mar 24, 2008 9:56am
Quoting pilatus
Tadinda!
First of all I read this thread from its starting. Second I DID NOT mean in bad context. Third I appreciate your and yours friend work on EA. But I am little afraid that The Wciker abanodned this thread because right now is far away from its first direction.
Now, without bad feeling I found some interesting things that can filter bad trades. If it is someone interesting I will post my opinion and chart of bad examples and explanations.
P.S. Do not allow you self to get emotional. Trading is a job where emotion will kill your account.
Pilatus,

Contributions, SIggestions, Solutions and Criticims are always welcome. Skyscraper, who is doing the biggest part of all has always listened, explained and taken on board any suggestion or contribution.

Consequently, your contribution or otherwise would be most welcome to get this EA working as well ALL want it to.

tadinda
  • #1,733
  • Mar 24, 2008 10:06am Mar 24, 2008 10:06am
Quoting tadinda
Sky and others helping on teh EA.

As you know I have been extensively testing the EA.
I was getting worried becasue one aspect of the original Wicker we did not consider in the pragramming of the EA and I was certainly not considering in my testing. The timing of the market.

Now I have taken a Pair and one time Frame and did a detailed analysis of the Trades. It became very apparent that most of the losses where occurring outside UK and outside US Market Hours.

Consequenlt, I think that to move this forward properly we have to proagramme within the EA timings of the market. If the timing of the signal occurs between open of UK Market and Close of USA Market then the signal will be valid. If not it should not be a signal at all.

In view that there would eb a variety of people from different countries I suggest the timing programming should be able to be flexible. In that for example:

I am in Malta. Our Time is GMT (Greenich Mean Time) +1. Therefore when the UK markets open at say 08:00 the time here would be 09:00. Similarily when the US closes say at 16:00 EST, that would be around 22:00 here. Therefore a parameter would need to be inserted to establish the timing of the various brokers. Something like + or - a number away from GMT.

Look forward to hearing from you. Meantime I have suspended all testing I was doing until such time I hear from you on this.

Thanks
Agreed. AUD/USD works best during US / Eur sessions. Trust me on that one
  • #1,734
  • Mar 24, 2008 10:13am Mar 24, 2008 10:13am
Quoting Nigel
Agreed. AUD/USD works best during US / Eur sessions. Trust me on that one
Nigel,

If you see an earlier thread teh Skyscraper has already progarmmed this in his last update. Ever so efficicnt our man..

tadinda
  • #1,735
  • Mar 24, 2008 11:37am Mar 24, 2008 11:37am
According to more than 6 months of research of this system I found next:

1. Every good signal is not good all the time. According to my research I found that guppy MMA must be not even in same direction, they must correctly expance. Yes, that The Wicker said too. But If you look carefully on chart you will notice that blue lines a wider than green and red. Last mentioned, in good trend which we are looking for, is not the case. In good trend all guppy, espacially red, green and blue are at least same bandwith. And guppy are gathered.
Next, let us assume that we had a good downtrend few days. Every trend has its retrace. Price moves in Elliot wave fashion and tend to retrace. If we had a breakout in our example from downtrend to uptrend we must predict that breakout is only retrace. In our system( Wicker system) we are only looking for signals like MACD/LAG and good assemblage of guppy MMA. And if we get a good signal we assume the new trend has become which is WRONG.
How can we see that a new look like trend is not good???
Accoridng to my research and opinion:
1,.If breakout occur in fast way, like on example, RED lines did not have time to shrink. So, when signal occur RED lines are NOT wide like green and blue.
2. Blue lines are often wider than green and red. And Blue lines are already expanded to much for new trend.
3. All picture (guppyMMA) looks like that you can see through guppy. Like its net is tin. Looks like net does not have densitiy. Look chart.

If I see picture like that even I have a good signal I will NOT enter a trade.
Next, we can help ourself when we look 1H chart and there we can put fibonacci, trendlines e.t.c.
I want The Wickers comments about everything mentioned.

And now something about EA!!
Dear treaders. I really appreciate your work, but you must understand that there is no EA on the whole planet that will make you money. Trading is a full time job. Dont think that anyone can take money from market on easy way. If that is possible, dont worry, some smarter and faster trader would do this before.
EA can not think. EA does not have the common sense like you have. I had few months ago, a prefect EA on some other system with amazing results.
I had EA that made in 2007, 35 wins and 1 loss trade. Now you are asking yourself why I am not rich yet??
Because market conditioned has changed, and that amazing EA which I loved so much on some way does not work well as in 2007. So, my suggestion is for all of us. Let us study how to learn and become expert in TF-5min system and stop waste time on EA.
On the end. For all EA fans one question. Have you ever heard that one very well known trader made his glory with EA???? Mention just one please.

Have anyone mentioned how many good signals we had last week??
I have found it more than 5. They all together made more than 600 pips. In one week????
Yes dear traders in one week. That is why we should look in that direction. To make us experts in trend folowing.
The Wicker where are you??
Attached Image (click to enlarge)
Click to Enlarge Name: not good signal.gif Size: 31 KB
  • #1,736
  • Mar 24, 2008 12:38pm Mar 24, 2008 12:38pm
Pilatus:

I used to run the Paltalk chatroom for this system, it picked up nicely at one point, It was great talking to other traders from this forum and comparing signals and learnt so much about this system by the wicker each and every day.

Unfortunately, with paltalk, im having to keep my pc on for 17 hours a day along with the paltalk software to keep the room open. I've closed it down for the time being as people started slipping away one by one and hardly anybody would join me so i cant waste my time and my pc resources are low already as I run 3 copies of MT4 everyday on it. Im searching for another chatroom alternative that I may set up sometime for people that may be interested.

But for now, I think if we can just filter out the bad signals from this system somehow without changing the system or making it unrecognizable, i truely understand though what you and Fxfocus are trying to say, but I think there should be some middle ground. As for the EA side, I think the EA is a good development, BUT, i will NEVER let an this EA trade a live account until we have enough testing and results, not backtesting, but forward testing on demo testings to see where the shortfalls and strengths of this EA are compared to trading this system Manually. I still prefer to use the EA on my charts, BUT to just execute demo trades and alert me of a signal, which I would then check up myself, and see why a signal was given, and wether its going to be a good trade, or not.

I see where both you and FxFocus are coming from though, and I respect both of you, but I dont also see Sky's and Everybody elses contributions as bad at this time.
  • #1,737
  • Mar 24, 2008 12:46pm Mar 24, 2008 12:46pm
Quoting WilteredFire

Unfortunately, with paltalk, im having to keep my pc on for 17 hours a day along with the paltalk software to keep the room open. I've closed it down for the time being as people started slipping away one by one and hardly anybody would join me so i cant waste my time and my pc resources are low already as I run 3 copies of MT4 everyday on it. Im searching for another chatroom alternative that I may set up sometime for people that may be interested.
You might want to take a look at this...
http://www.tradingrooms.com/
  • #1,738
  • Mar 24, 2008 1:24pm Mar 24, 2008 1:24pm
Thank you for your time orion, i've used tradingrooms software, to sum it up...i think its a bit duff (no offense to anybody)

I've got my reasons for it such as the chatroom window not blinking when its minimized when somebody talks, thats a big downside, the feel of the software is also a little tacky, paltalk feels more warm and is much more user friendly to talk with, but paltalks downside is like i said the chatroom only stays open if i keep my pc running, so software that can keep the room open 24/7 would be ideal, and also have a nice simple user friendly interface, and good features.

I will find something good and start up another room soon maybe if theres enough interest. For now im concentrating on my trading though as im going live this week

Try tradingrooms software if you get a chance, you'll know what I mean if you've used paltalk before that tradingrooms software feels a little dull and void. Thats just my opinion though anyway lol.

  • #1,739
  • Mar 24, 2008 1:44pm Mar 24, 2008 1:44pm
Quoting orion70
You might want to take a look at this...
http://www.tradingrooms.com/

Orion 70!
Are you member of trading room community?
Do you know how can I get password for entering the trend follower room??
Thanks in advance!
  • #1,740
  • Mar 24, 2008 2:36pm Mar 24, 2008 2:36pm
Quoting pilatus
According to more than 6 months of research of this system I found next:

1. Every good signal is not good all the time. According to my research I found that guppy MMA must be not even in same direction, they must correctly expance. Yes, that The Wicker said too. But If you look carefully on chart you will notice that blue lines a wider than green and red. Last mentioned, in good trend which we are looking for, is not the case. In good trend all guppy, espacially red, green and blue are at least same bandwith. And guppy are gathered.
Next, let us assume that we had a good downtrend few days. Every trend has its retrace. Price moves in Elliot wave fashion and tend to retrace. If we had a breakout in our example from downtrend to uptrend we must predict that breakout is only retrace. In our system( Wicker system) we are only looking for signals like MACD/LAG and good assemblage of guppy MMA. And if we get a good signal we assume the new trend has become which is WRONG.
How can we see that a new look like trend is not good???
Accoridng to my research and opinion:
1,.If breakout occur in fast way, like on example, RED lines did not have time to shrink. So, when signal occur RED lines are NOT wide like green and blue.
2. Blue lines are often wider than green and red. And Blue lines are already expanded to much for new trend.
3. All picture (guppyMMA) looks like that you can see through guppy. Like its net is tin. Looks like net does not have densitiy. Look chart.

If I see picture like that even I have a good signal I will NOT enter a trade.
Next, we can help ourself when we look 1H chart and there we can put fibonacci, trendlines e.t.c.
I want The Wickers comments about everything mentioned.

And now something about EA!!
Dear treaders. I really appreciate your work, but you must understand that there is no EA on the whole planet that will make you money. Trading is a full time job. Dont think that anyone can take money from market on easy way. If that is possible, dont worry, some smarter and faster trader would do this before.
EA can not think. EA does not have the common sense like you have. I had few months ago, a prefect EA on some other system with amazing results.
I had EA that made in 2007, 35 wins and 1 loss trade. Now you are asking yourself why I am not rich yet??
Because market conditioned has changed, and that amazing EA which I loved so much on some way does not work well as in 2007. So, my suggestion is for all of us. Let us study how to learn and become expert in TF-5min system and stop waste time on EA.
On the end. For all EA fans one question. Have you ever heard that one very well known trader made his glory with EA???? Mention just one please.

Have anyone mentioned how many good signals we had last week??
I have found it more than 5. They all together made more than 600 pips. In one week????
Yes dear traders in one week. That is why we should look in that direction. To make us experts in trend folowing.
The Wicker where are you??

Interesting and informative post which includes sensible comments and good advice...
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