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Is This My Holy Grail EA :D

  • #481
  • Jul 24, 2008 7:58pm Jul 24, 2008 7:58pm
Quoting Leomeister
A very clever modification of the martingale Bob! Thanks for the concept and the split expert for buy and sell. I started with it yesterday on a $3000 demo and am already up +$280 with most open trades moving in the right direction. I think I entered to early on several. partly for the reason you point out; the shifting Macd but partly my being too anxious to jump into a trade.

About the MAcd --it seems I've seen a Macd set up on a 1-100 range rather than the typical +/-. Haven't found it yet. Have tried to just set the range manually on the Macd but not sure thats the solution.
Thanks.

LeoM
I tried the MIN MAX thing and it doesnt seem to fit. The MACD moves all over the place on its scale and that is what makes it unique. When you fix the numbers it seems to lose some of its uniqueness. I will test the 2 sto 1 MA and see how that does for now. Thanks for the idea though. A MACD based on 0 and 100 may work, if we can find it.
  • #482
  • Jul 25, 2008 4:50am Jul 25, 2008 4:50am
Every trade I had was in profit, it looked really good so I closed them all and will take the wife out to dinner. Will start trading again Monday. The total amount of pips was almost 300 and with yesterdays 500 I felt that was enough.
  • #483
  • Jul 25, 2008 4:39pm Jul 25, 2008 4:39pm
Bob, have you ever looked at the Schaff Trend Cycle indicator? This may help you with your MACD issues. I'm not real familiar with it so I've included a pdf which describes the indicator. I've also included a picture of your original template where I have replaced the MACD gold line the STC indicator gold line.

It seems like this might work, since according to the indicators creator, he made the STC in response to multiple false signals generated by the MACD and Stochastics...ring a bell?
Attached Image (click to enlarge)
Click to Enlarge Name: stc.gif Size: 23 KB
Attached File(s)
File Type: pdf Schaff code.pdf   264 KB | 1,332 downloads
  • #484
  • Edited 5:19pm Jul 25, 2008 5:06pm | Edited 5:19pm
It might help if I include the indicator!

The default MA's are 23 & 50, for the above picture I changed them to 12 & 26. According to my reading, you can use this indicator in both timeframes.
Attached File(s)
File Type: mq4 Schaff Trend Cycle Oscillator.mq4   3 KB | 1,262 downloads
  • #485
  • Jul 25, 2008 6:19pm Jul 25, 2008 6:19pm
Quoting Lincoln10
It might help if I include the indicator!

The default MA's are 23 & 50, for the above picture I changed them to 12 & 26. According to my reading, you can use this indicator in both timeframes.
thanks, I will look at it over the weekend. Other than that one trade I still had a good week, especially the last two days. When most/all the currencies go oversold or overbought, I have seen some big moves and we got that the last two days.
  • #486
  • Jul 25, 2008 6:42pm Jul 25, 2008 6:42pm
Here's one more article on the STC indicator for your reading enjoyment.
Attached File(s)
File Type: pdf Catching_Moves.pdf   335 KB | 1,432 downloads
  • #487
  • Jul 25, 2008 11:31pm Jul 25, 2008 11:31pm
This was my first week trading this system (on demo account with .10 lots). Below are a few stats:

Starting Balance: $3000
Days traded: 4
Total trades: 31
Wins: 19
Losses: 12
Average win: 55 pips
Average loss: 25 pips
Largest negative open position: -95 pips (damn you USD/CHF!)
Maximum steps utilized: 3 (.22 lot)
Ending balance: $3718.40

All-in-all not a bad week!
  • #488
  • Jul 26, 2008 12:15am Jul 26, 2008 12:15am
Quoting Lincoln10
This was my first week trading this system (on demo account with .10 lots). Below are a few stats:

Starting Balance: $3000
Days traded: 4
Total trades: 31
Wins: 19
Losses: 12
Average win: 55 pips
Average loss: 25 pips
Largest negative open position: -95 pips (damn you USD/CHF!)
Maximum steps utilized: 3 (.22 lot)
Ending balance: $3718.40

All-in-all not a bad week!
I am very humbled. The student did better than the teacher. If I hadnt done the GBP/CHF trade too early I would have done better but alas I did not.
  • #489
  • Jul 26, 2008 2:46am Jul 26, 2008 2:46am
I am adding a new template with a couple of new wrinkles. I kept the 3 lines red, white and blue. The blue line follows the MACD but it is not the same so it will read a little differently. However, It will let you know if the MACD is drifting. For instance, in an overbought condition, the MACD may stay up above or near the 85 line but the blue will be going south. This means the MACD is drifting you dont trade until the MACD and blue agree again. This would have kept me out of the GBP/CHF trade until the proper time but it doesnt change when the conditions are right. MACD and the blue line will agree at trading time.

I also added an envelope. It is the 89 MA with a dotted line of 75 pips above and below and then two solid lines, 150 & 300 pips above and below the 89 MA. Depending upon the currency you will want to turn the EA on when price is near or past one of these lines. For instance, the eur/gbp is a very slow moving currency and you would use the dotted lines for confimation. Other currencies you will use the solid lines. This will also help you in the take profit mode. You will see price often halts or hesitates at the 89 MA or these other lines, so you can decide to continue or take profit at that point. Attached is the new template and the signal only MACD.

Put the template in the first templates folder and the indicator in the indicators folder which is inside the Experts folder. Good luck.
Attached File(s)
File Type: tpl 4h 89 ma.tpl   4 KB | 672 downloads
File Type: mq4 MACD With Signal Only.mq4   2 KB | 923 downloads
  • #490
  • Jul 26, 2008 2:47am Jul 26, 2008 2:47am
Pic to go with the previous post. The MACD is now a dotted Gold line.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp chf.gif Size: 25 KB
  • #491
  • Edited 8:45am Jul 26, 2008 3:15am | Edited 8:45am
It will be interesting to see if the "agreement" of the blue ma and dotted MACD does work. Its a nice concept and seems it should. I'll be testing it.

With the envelopes; I use these and find that fibonacci levels are very good for TP or support resistance. So envelope bands at; 21, 34, 55, 89, 144, etc.. Or with deviations; 50, 62, 78, 100, 123.

Hope Bob and others don't mind; here's a slight variant of the bands using the 'envelopes' indicator in MT4 with Fibonacci deviation numbers for the distance from the 89 ma. The .786 is often a short target in ranging periods and the 1.23, 1.618, and 2.0 Daily Targets # 1-3 for take profit points as the market often hits support or resistance there.

I attached three indicators including the Schaff Trend Cycle, CCI-34, and Laguerre as possible confirmation filters for the Macd marking range extremes. Thought others here might like to test these in real-time and see which to keep and which throw out. The attached template includes the settings for the indies. 'Envelopes' and CCI is standard in MT4. The Schaff and Laguerre you'll have to place in your Indicators folder for the template to find them.
Attached Image (click to enlarge)
Click to Enlarge Name: nnbob_w_fibenvel_4indies.gif Size: 21 KB
Attached File(s)
File Type: tpl 4h 89 ma + fib envel+indies.tpl   6 KB | 633 downloads
  • #492
  • Edited 8:48am Jul 26, 2008 4:16am | Edited 8:48am
I agree, the Schaff Trend Cycle Osc is a great indicator. Several years ago I had a techie code me a trading expert for eSignal that relied on theSTCO. It has potential and I agree, would also be good to test to see if it fits this trading strategy.
Attached File(s)
File Type: mq4 Schaff Trend Cycle Oscillator.mq4   3 KB | 892 downloads
File Type: mq4 Laguerre.mq4   3 KB | 773 downloads
  • #493
  • Jul 26, 2008 9:35am Jul 26, 2008 9:35am
Quoting Leomeister
It will be interesting to see if the "agreement" of the blue ma and dotted MACD does work. Its a nice concept and seems it should. I'll be testing it.

With the envelopes; I use these and find that fibonacci levels are very good for TP or support resistance. So envelope bands at; 21, 34, 55, 89, 144, etc.. Or with deviations; 50, 62, 78, 100, 123.

Hope Bob and others don't mind; here's a slight variant of the bands using the 'envelopes' indicator in MT4 with Fibonacci deviation numbers for the distance from the 89 ma. The .786 is often a short target in ranging periods and the 1.23, 1.618, and 2.0 Daily Targets # 1-3 for take profit points as the market often hits support or resistance there.

I attached three indicators including the Schaff Trend Cycle, CCI-34, and Laguerre as possible confirmation filters for the Macd marking range extremes. Thought others here might like to test these in real-time and see which to keep and which throw out. The attached template includes the settings for the indies. 'Envelopes' and CCI is standard in MT4. The Schaff and Laguerre you'll have to place in your Indicators folder for the template to find them.
Well, we are getting some ideas but I like keeping the simplicity. I find out if I use too many indicators it gets confusing. The three lines crossing is a great indicator and with maybe 1 filter it should work fine. I still had a good week except for one trade. I kept the system but added one more indicator to filter out the MACD roaming. The advantage I see with some of these other lines is you are familiar with them and know how they function. I would have to learn these new indicators all over again and how they function in different markets, currencies and timeframes. I know how the sto, MACD and MA function, I didnt know about the roving MACD and now some things really make sense to me about my occasional bad trades. If I know the MACD is roving then I can adjust myself. I think an envelope system, (FIBS may not be a bad idea but I have never been much of a FIB man) helps in the filtering. I am afraid that maybe too much info. It is the simplicity that makes a system work but we are already using, sto, MACD, MA, crossovers and currency range. If I can keep the simplicity of the system it works. The Martingale is very forgiving and allows for the simplicity. You dont have to have precise entry points. Anything within 100-200 pips actually works nicely. That is the beauty of this system, its simplicity and the ability to forgive a not so accurate entrance.
  • #494
  • Jul 27, 2008 4:04am Jul 27, 2008 4:04am
Bob,
I definitely agree that limiting your key indicators is ideal; the fewer the better. My posting the stack of indicators was not to advocate using all of them, or a chart environment that looks like someone dropped a plate of spaghetti on your monitor! Just that to my eye, and from past use, the Laguerre, CCI, and Schaff T.C. indicators come close to replicating the MACD cycles which you've indicated are so important in this strategy.

On past charts the MACD as you have it overlayed is excellent in finding the peaks or bottoms of cycles. I'm just wonder if in real-time the shifting MACD may get us into several trades way too early. If only one 'flyer' takes off and we average in multiple trades using the excellent 'modified martinagale' expert, then no problem. But if the market takes off and all the JPY pairs move 150 pips beyond the first early entry; a margin call might close down the account.

My thought was just to see if one of the alternate indicators provides similar results to the MACD, but without shifting. If it shares the same scale, then overlay it on the Stoch instead of the MACD. The Schaff TCO might be less likely to shift as it has the same 1-100 scale as the stochastic.

* Another alternative might be to look for a programmer who's willing to adjust the code and combine the stochastic and macd into one indicator, with both sharing the same scale. Then no shifting and you keep the MACD.

Again, this is a great system and whatever works best to pin-point the cycle extremes will put pips in the bank for us.


LeoM
  • #495
  • Jul 27, 2008 11:23am Jul 27, 2008 11:23am
Good post. I just dont want to take the time learning a bunch of new indicators if I can help it. But if you get a good read off of them I may learn something. I am going to try the blue line addition this week and see how it works.

My calls for Sunday night are:

Sell EUR/AUD and USD/CAD (I dont trust this pair)
Buy AUD/USD

Obviously the two AUD trades could move at their opening at 4PM EST.
  • #496
  • Jul 27, 2008 12:14pm Jul 27, 2008 12:14pm
Yes the AUDUSD looks ready to move up. Some of the indicators I posted affirm your stoch cross up over the macd which is below 20. The Schaff TC is at the bottom of its cycle, and the CCI is just moving up to touch the -100 line. In addition the price has just bounced off the lower 1.62 purple price band and should now try to move back towards the yellow 89 median line. But of course the market will do what it wants...!
  • #497
  • Jul 27, 2008 7:00pm Jul 27, 2008 7:00pm
Quoting Leomeister
Yes the AUDUSD looks ready to move up. Some of the indicators I posted affirm your stoch cross up over the macd which is below 20. The Schaff TC is at the bottom of its cycle, and the CCI is just moving up to touch the -100 line. In addition the price has just bounced off the lower 1.62 purple price band and should now try to move back towards the yellow 89 median line. But of course the market will do what it wants...!
Yes, I feel your pain about the market doing what it wants, however, with the modified martingale you can let it do what it wants for at least 300 pips. My system relies on, when the market indicators are in this position, it will not move 300 pips against you, that the majority of the market move is done with. With the exception of the GBP/CHF, and GBP/JPY, I feel the chances are less than 1% and it definitely wont happen in one day. My trading system is based on that there will be a market change of direction or a retracement that is profitable in the next 300-400 pips.

The GBP/CHF trade of mine last week did have a profitable retracement but I did not take it. I thought there would be more there. Also, it did turn around after 386 pips from my entry so if I had stayed in, it would have worked. But I would rather be safe than sorry. Good luck
  • #498
  • Jul 27, 2008 8:31pm Jul 27, 2008 8:31pm
I'm shorting the EUR/AUD (got a nice signal and its bouncing off the +150 line). I'm not taking USD/CAD since it's not in my list of currencies that I set out to test. Lastly, I'm not seeing a signal on the AUD/USD (my indicators are still above the 15 line but I'm using a different broker so that's probably why).

Here's to continuing my 24% return from last week!
  • #499
  • Edited 12:16am Jul 28, 2008 12:01am | Edited 12:16am
Quoting Lincoln10
I'm shorting the EUR/AUD (got a nice signal and its bouncing off the +150 line). I'm not taking USD/CAD since it's not in my list of currencies that I set out to test. Lastly, I'm not seeing a signal on the AUD/USD (my indicators are still above the 15 line but I'm using a different broker so that's probably why).

Here's to continuing my 24% return from last week!
Here is the pic from my chart (IBFX) I would be interested on when it shows on your chart. Also if you are using the MACD from MT4 instead of the MACD with histogram its signals are a bit more delayed. The MACD with histogram is using the Main line and the MACD from MT4 uses the signal line. So the difference maybe the MACD used. The difference is not that much if you get used to reading the signal from it. This is not a critical decision at this point since the AUD/USD doesnt move much during the EURO session. It really wont move until the US open so probably by then it will show as a buy on your chart. I went ahead and put the EA on to see if it would move during the AUD session. It didnt, so now I am hanging on to it until tonight. It is at a 4 pip profit right now so it was not a significant move.

In the chart below the gold broken line is MACD with Histogram main line and the green broken line is the MT4 MACD signal line. You will notice that the MT4 one is a bit more delayed. If your MACD lines on your computer show different than these two then it would be from the time your company uses. IBFX 00:00 time is 8pm EST or the start of the JPY open. That is when it starts the new daily bar. If your daily bar is not starting at 8pm EST then your time frame is different than mine. I dont think this will cause you a problem once you get used to reading your charts according to your time frame.
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd2.gif Size: 22 KB
  • #500
  • Jul 28, 2008 12:28am Jul 28, 2008 12:28am
Quoting Lincoln10
I'm shorting the EUR/AUD (got a nice signal and its bouncing off the +150 line). I'm not taking USD/CAD since it's not in my list of currencies that I set out to test. Lastly, I'm not seeing a signal on the AUD/USD (my indicators are still above the 15 line but I'm using a different broker so that's probably why).

Here's to continuing my 24% return from last week!
I have my EA to short EUR/AUD also but it has not crossed the 2MA line yet so has not entered.
Attached Image (click to enlarge)
Click to Enlarge Name: eur aud.gif Size: 22 KB
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