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Trend Finder Daily

  • #41
  • Jun 13, 2008 5:00am Jun 13, 2008 5:00am
No matter when both are green or red, you will always enter the following day, am I correct? So there would never be a need to watch when to get in on a position during the day, you would just check start of day every day.
  • #42
  • Jun 13, 2008 5:04am Jun 13, 2008 5:04am
Quoting et_phonehome_2
No matter when both are green or red, you will always enter the following day, am I correct? So there would never be a need to watch when to get in on a position during the day, you would just check start of day every day.

See Post # 12

Quoting bull101
Quoting lcfxtrader
So with the daily setup you do wait for the candle close correct? What pairs do you trade? Do you the same take profit and stop loss setting for all pairs?
Hello,

I do not wait for the candle to close. I analyze the charts when the candle opens. If there is a signal, I take it. I trade this on all available pairs.

http://forexfactory.com/images/buttons/quote.gif

  • #43
  • Jun 13, 2008 5:30am Jun 13, 2008 5:30am
Quoting Bull101
Hello,

I trade this system on all available pairs.

The win rate after 4 months of demo trading is 82%
The win rate after 2 months of live trading is 84%


Bull101
hi, bull101,
how many trades can you make every month on average for this daily strategy? and how many trades for the 4h strategy?
  • #44
  • Edited 7:00am Jun 13, 2008 6:36am | Edited 7:00am
I am backtesting this strategy,
for example,
at the beginning of jan 14 2008, both bar were green, so I bought at 1.2779. and set a stop loss at 1.2677.

then during the day, both bar suddenly turned to red (so weird), and hit my stop loss at 1.2677....
that means, this one is a failed trade. am I right?
please see the attached pictures!


btw, I use the every tick model and visual mode in the strategy tester to backtest (using my eyes).

(of course, first we need to download the 1m data(1999 - 2008) from the metatrader "tools-history center" to make the every tick model test. I hope you know this.)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd daily 01142008 1.jpg Size: 51 KB
Click to Enlarge Name: eurusd daily 01142008 2.jpg Size: 55 KB
  • #45
  • Jun 13, 2008 6:53am Jun 13, 2008 6:53am
and I noticed a weird thing...
At the very beginning of the day(01 14 2008), the stoch histogram is a half green half red bar.(the upper is green, the lower is red)...In this case, we can't trade, right?
is this a regular one?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily 01142008 1e.jpg Size: 52 KB
  • #46
  • Jun 13, 2008 6:59am Jun 13, 2008 6:59am
Quoting mohan
maybe someone try to do EA for this...

BTW, anyone could teach me how write EA...i really appreciate that...
www.metatrader.info/node/34

Quoting bobowang
and I noticed a weird thing...
At the very beginning of the day(01 14 2008), the stoch histogram is a half green half red bar.(the upper is green, the lower is red)...In this case, we can't trade, right?
is this a regular one?
The indicator is programmed so that when the stoch is above or equal to 50, the line is green, and when the indicator is below or equal to 50, the line is red. That there is a value of 50.



As for the rest of you: attached is an EA for this system.
Attached File(s)
File Type: mq4 Trend Finder Daily.mq4   10 KB | 1,011 downloads
  • #47
  • Jun 13, 2008 7:13am Jun 13, 2008 7:13am
Quoting bobowang
and I noticed a weird thing...
At the very beginning of the day(01 14 2008), the stoch histogram is a half green half red bar.(the upper is green, the lower is red)...In this case, we can't trade, right?
is this a regular one?
I have noticed that and think it is a "bug" of the indicator, as if I change timeframes and come back, it shows only one color.
  • #48
  • Jun 13, 2008 7:21am Jun 13, 2008 7:21am
A really nice , simple system , I'll get trialling it. Many thanks to Bull for the system, and thanks to Ronald for again sharing his programming skills with the FF people and making an EA.

Cal
  • #49
  • Jun 13, 2008 7:56am Jun 13, 2008 7:56am
OK, I have saved the EA everywhere, dragged it to the chart and the symbol is now sitting on the top right hand corner of the chart, with an x next to it. I've allowed live trade, I've set lot size to 1.0, but still the x is there.

This is only my 2nd time working with EA, each as demo obviously, and have not been successful. RR where am I going wrong?
  • #50
  • Jun 13, 2008 8:00am Jun 13, 2008 8:00am
Quoting Baggles
OK, I have saved the EA everywhere, dragged it to the chart and the symbol is now sitting on the top right hand corner of the chart, with an x next to it. I've allowed live trade, I've set lot size to 1.0, but still the x is there.

This is only my 2nd time working with EA, each as demo obviously, and have not been successful. RR where am I going wrong?
Look at the toolbar at the top of your metatrader screen. Make sure the expert advisor button is green. Otherwise, it won't trade.
  • #51
  • Jun 13, 2008 8:07am Jun 13, 2008 8:07am
I'm now standing in the corner wearing my newbie hat. Thank you so much, now back to making money.
  • #52
  • Jun 13, 2008 8:08am Jun 13, 2008 8:08am
hi, ronald,

Are you sure there is nothing wrong with your EA?
it looks like a so "great" strategy....
we can use it as inverse indicators....

look at this backtest result:
Attached Image (click to enlarge)
Click to Enlarge Name: backtest eurusd from jan142004.JPG Size: 23 KB
  • #53
  • Jun 13, 2008 8:11am Jun 13, 2008 8:11am
Quoting doblece
I have noticed that and think it is a "bug" of the indicator, as if I change timeframes and come back, it shows only one color.
is this really a bug or not? I hope it's not, it's just a special bar indicates not to trade .
  • #54
  • Jun 13, 2008 11:03am Jun 13, 2008 11:03am
Strategy tester doesnt usually reflect real market conditions very well. Ronald is an excellent programmer who has simply coded the rules as presented. The EA needs some forward testing before any of us can really comment on it's performance.

If the EA is compiled, added to daily charts and you don't see any errors in operation, then feel lucky that Ronald spent his time to make an EA that was freely posted for all to try.

Just give it a chance in forward testing for a few weeks- you can't really judge a daily bar strategy until you've trialled it for a Month as a bare minimum in my humble opinion
  • #55
  • Jun 13, 2008 11:27am Jun 13, 2008 11:27am
Quoting bobowang
hi, ronald,

Are you sure there is nothing wrong with your EA?
it looks like a so "great" strategy....
we can use it as inverse indicators....

look at this backtest result:

I'm curious. What is your modelling quality? Did the EA follow the entry rules?
  • #56
  • Jun 13, 2008 11:59am Jun 13, 2008 11:59am
I'm curious to see if anybody has entered any trades using this system and if so, what are your results?
  • #57
  • Jun 13, 2008 12:07pm Jun 13, 2008 12:07pm
Hi Bull101:

This is a 2-PART QUESTION:

So you've got two versions now on ForexFactory, the 4h and Daily TF approach. From a psychology standpoint, I think I like the 4h version better because it provides some degree of instant gratification and probably the drawdowns when you in the middle of a trade are less.

But ultimately what matters most is...which one is going to make you the most money and with the least of amount risk?

Unless I've missed it, I'm surprised that no one has asked you that question yet.

So which method makes you more money...the 4h or Daily version?

2. I very appreciate your sharing this system. I am amazed at how simple systems often become weighed down with layers of complex nuances. Phillip Nel's 4h systems is great, but it seems to have a steep learning curve when you look at all the different patterns and interpretation you have learn.

I also think that OzFX and Fozzy are also great. But both have evolved in that direction as well. They appear to be simple systems, but it doesn't appear to work well if you apply them mechanically.

Granted, I don't think success in Forex trading comes on a silver platter. I know there is inherently a great deal of thought-process in money management and executing trades. Nevertheless, I like the simplicity of your methods and I hope they stay that way.

Given the way that you have applied your 4H and Daily Methods in your real account, are you able to more or less apply them mechanically...just following simple rules?
  • #58
  • Jun 13, 2008 12:07pm Jun 13, 2008 12:07pm
Quote
I'm curious to see if anybody has entered any trades using this system and if so, what are your results?

I took 2 trades last night on a closed candle with all indicators agreeing, however, this is not by the rules. You would need to monitor the daily open to see if both indicators change color according to the author of thread.
  • #59
  • Jun 13, 2008 12:19pm Jun 13, 2008 12:19pm
What was your reasoning for waiting for the close of the daily candle rather than entering on the open? Can the Stochs and AO bar change colors before the new daily candle is formed? I thought those indicators did not repaint. Please correct me if I'm wrong.

Did the two trades you take turn a profit for you?
  • #60
  • Jun 13, 2008 12:21pm Jun 13, 2008 12:21pm
Quoting Dl1982
What was your reasoning for waiting for the close of the daily candle rather than entering on the open? Can the Stochs and AO bar change colors before the new daily candle is formed? I thought those indicators did not repaint. Please correct me if I'm wrong.

Repainting is defined as an indicator whose value for a specifc bar changes after the aforementioned bar has closed.

During a candle, the indicator's value for that candle will always chance as the price changes. After the price stops changing, the indicator's value should also stop changing, if that doesn't happen, you have repainting.
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