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Relative Strength Basket Trading System

  • #2,221
  • Dec 28, 2008 2:59pm Dec 28, 2008 2:59pm
Quoting azjeff
Hello Steve,


Many thanks for your wonderful and brilliant work on making a profitable expert advisor for this system at least in my demo testing your previous versions so far. Your trading skills and programming skills help many people.


Regards,
Jeff
Cheers Jeff. I try. Let's hope the bugs are easily swatted.

  • #2,222
  • Dec 28, 2008 3:10pm Dec 28, 2008 3:10pm
In outline, the TP function appears to work. The demo account had a few baskets outstanding from last week, one of which was at +$1.7. I set the TP to $1.00 and the EA closed the trades at the next available tick.

Excellent.

Do post any problems though, in case I have mis-coded the routine for any of the other triggers.

  • #2,223
  • Dec 29, 2008 12:53am Dec 29, 2008 12:53am
Quoting SteveHopwood
V6 is attached. This version has a Take Profit, Stop Loss and Jumping Stop Loss.
I will be surprised if these routines work straight off. I have released them in time for market opening so that problems are highlighted on demo. If you prefer not to mess around with this release, then stick to V4a until I can say for sure that the coding is correct.



Update details[list][*]V3a: fixed the incorrect entries in the xxxUSDUSDxxx baskets.[*]V3b: (1) Fixed the user feedback display. (2) Added feedback to show when the ea is waiting for a retrace...
Hi Steve thanks again,

And here are what i found, i think you forgot to add GBPAUD and CADCHF in the GBP basket and CHF basket.

So, with the new TP and SL code inside the EA, is it means we do not need MPTM EA anymore? it's confusing me... hehehehehehe

Regards,

KG
  • #2,224
  • Dec 29, 2008 1:52am Dec 29, 2008 1:52am
Quoting SteveHopwood
In outline, the TP function appears to work. The demo account had a few baskets outstanding from last week, one of which was at +$1.7. I set the TP to $1.00 and the EA closed the trades at the next available tick.

Excellent.

Do post any problems though, in case I have mis-coded the routine for any of the other triggers.

Hi Steve..

Thanks again for your excellent works. Currently I'm testing V5 and V6. In order to see the action, I put V6 at the 5M TF while V5 at 1H and 15M TF.
So far I found the TP and SL it's working accordingly except the Jumping Stop. All the execution of closing was done very fast.

I not sure whether this the way of the jumping stop acting. In my case in 5M TF, I set my trade at $5 jumping stop,SL=-$35, TP=$35 and the alert is on when it reach $5 and the alert keep on and off when it pass $5 either up or down. I though, when the Jumping is moving down more than $5, the EA should stop, but in this case the EA does close the trade. It's close the trade when the SL hit. I'm not sure about this..

During the Tokyo time, I put all baskets are true, but I found that GBP and CHF baskets are producing high DD. Based on the testing, I found that 5M TF is better than 15M TF, but all still depend on the SL and TP set. So far 1H TF is produce better result, but sometimes carry high DD compare to 5M.

I attached here the result starting from Tokyo time until London opening session. I believe during London and New York session, the result could be different.

For this moment, I just concentrate on 3 baskets..USD, JPY and EUR while the other currency I don't trade.So..maybe others can share for the other currency.

Sahars.
Attached Image (click to enlarge)
Click to Enlarge Name: kg basket range trading.gif Size: 78 KB
Attached File(s)
File Type: pdf Forex Comparison Resultx.pdf   42 KB | 914 downloads
  • #2,225
  • Dec 29, 2008 3:33am Dec 29, 2008 3:33am
V6a is attached. IBFX users need not bother downloading it - you can see what is added below and it is irrelevant to us.

It seems that the various take profit and stop loss routines are working correctly, apart from the unwanted alerts in the jumping stop loss. I have this version running my live account and managing the baskets; I am no longer using my trade manager for this purpose.

I am not going to extend the management functions of this EA much. It is already huge, with a ridiculous number of inputs to set - this will only get worse when I add the remaining triggers. If all you need is a simple, all-purpose sl/tp/js, then the EA will do this for you. More complex requirements can be handled by the multi-purpose trade manager.

I would be prepared to bet that sahars is far from alone in not fully understanding the jumping stop, so I have added an explanation to the pdf. I reprint it here to save people looking it up:

 

  1. Basket jumping stop settings:
  2. UseJumpingStop: set this to 'true' to use this feature.
  3. JumpingStopDollars: profit points in dollars at which the EA should lock in the basket UPL – JumpingStopDollars,

    1. Here is how a jumping stop works. Imagine you have it set to $2:

      1. Basket profit hits $2: EA locks in breakeven and will close the basket if the profit falls to 0.
      2. Basket profit hits $4: EA locks in $2 profit and will close the basket if the profit falls to $2.
      3. Basket profit hits $6: EA locks in $4 profit and will close the basket if the profit falls to $4.
      4. And so on until the basket is closed by a change of strength direction.






Update details

  1. V3a: fixed the incorrect entries in the xxxUSDUSDxxx baskets.
  2. V3b: (1) Fixed the user feedback display. (2) Added feedback to show when the ea is waiting for a retrace to send a basket - shows a message such as 'Weak basket pending'.
  3. V4: added the GBP trigger.
  4. V4a: added the MaximumSpread feature. Added the ability to chose the distance of retrace the ea waits before sending the basket.
  5. V5:

    1. added EUR and CHF triggers.
    2. Added the DisplayGapSize input to help tidy up the feedback display.
    3. Added the missed GBPCAD pair to the GBP basket.
    4. Added the option to turn off the screen display of magic numbers.
    5. Added the basket take profit option.

  6. V6: added the basket stop loss and jumping stop functions.
  7. V6a: added the missed GBPAUD and CADCHF pairs.

Attached File(s)
File Type: zip KG basket range trading EA V6a.zip   437 KB | 606 downloads
  • #2,226
  • Dec 29, 2008 4:17am Dec 29, 2008 4:17am
Quoting SteveHopwood
V6a is attached. IBFX users need not bother downloading it - you can see what is added below and it is irrelevant to us.

It seems that the various take profit and stop loss routines are working correctly, apart from the unwanted alerts in the jumping stop loss. I have this version running my live account and managing the baskets; I am no longer using my trade manager for this purpose.

I am not going to extend the management functions of this EA much. It is already huge, with a ridiculous number of inputs to set - this will only get worse when...
Hi Steve,

Thanks for the explanation in that pdf file.

Cheers

Sahars.
  • #2,227
  • Dec 29, 2008 6:06am Dec 29, 2008 6:06am
V7 attached - added the AUD trigger. Two more to go.

As usual, the eagle-eyed amongst you please report anything wrong - I haven't tested the AUD pair so don't go live with it for now.

Rmember guys, just because you can trade 6 baskets, doesn't mean you should. 6 open baskets all going into 10% dd means the account is into a 60% dd; most people would need clean trowsers after experiencing that. Use a combination of maximum trades and turning off triggers to manage your risk.




Update details

  1. V3a: fixed the incorrect entries in the xxxUSDUSDxxx baskets.
  2. V3b: (1) Fixed the user feedback display. (2) Added feedback to show when the ea is waiting for a retrace to send a basket - shows a message such as 'Weak basket pending'.
  3. V4: added the GBP trigger.
  4. V4a: added the MaximumSpread feature. Added the ability to chose the distance of retrace the ea waits before sending the basket.
  5. V5:

    1. added EUR and CHF triggers.
    2. Added the DisplayGapSize input to help tidy up the feedback display.
    3. Added the missed GBPCAD pair to the GBP basket.
    4. Added the option to turn off the screen display of magic numbers.
    5. Added the basket take profit option.

  6. V6: added the basket stop loss and jumping stop functions.
  7. V6a: added the missed GBPAUD and CADCHF pairs.
  8. V7: added AUD trigger,

Attached File(s)
File Type: zip KG basket range trading EA V7.zip   404 KB | 1,335 downloads
  • #2,228
  • Dec 29, 2008 6:11am Dec 29, 2008 6:11am
Chf basket opened in Time Frame 5 Minute and hit the profit

Three baskets are running with EA attached in time frame 5 minute
  • #2,229
  • Dec 29, 2008 6:32am Dec 29, 2008 6:32am
Quoting SteveHopwood
V7 attached - added the AUD trigger. Two more to go.

As usual, the eagle-eyed amongst you please report anything wrong - I haven't tested the AUD pair so don't go live with it for now.

Rmember guys, just because you can trade 6 baskets, doesn't mean you should. 6 open baskets all going into 10% dd means the account is into a 60% dd; most people would need clean trowsers after experiencing that. Use a combination of maximum trades and turning off triggers to manage your risk.

...
Thanks Steve,

I love the words at the end of your pdf " DO NOT rush straight into live trading with it – only an idiot does this." hahahahahahahahahahahahaa

Regards,

KG
  • #2,230
  • Dec 29, 2008 6:34am Dec 29, 2008 6:34am
Quoting harigp
Chf basket opened in Time Frame 5 Minute and hit the profit

Three baskets are running with EA attached in time frame 5 minute
Hello brother,

I saw you play with lower TF than H1, find something ?

Thanks

KG
  • #2,231
  • Dec 29, 2008 7:42am Dec 29, 2008 7:42am
Hi Guys, I've been running the V2 succesfully, I just came back from holidays and added V6a and V4, both of these are giving me the following msg

KG RS GROUP V1.1 GBPJPY, H1: unkown subwindow number-1 for Objectcreate function.

I just reloaded V2 and it gives the same error code. I have the Group V1.0 V1.1 and V1.2 in the indicators.

Tks
  • #2,232
  • Dec 29, 2008 8:10am Dec 29, 2008 8:10am
Quoting sundog
Hi Guys, I've been running the V2 succesfully, I just came back from holidays and added V6a and V4, both of these are giving me the following msg

KG RS GROUP V1.1 GBPJPY, H1: unkown subwindow number-1 for Objectcreate function.

I just reloaded V2 and it gives the same error code. I have the Group V1.0 V1.1 and V1.2 in the indicators.

Tks
It's common error message. Just load the indicator on your chart and this message will be dissapears...

Thanks,

KG
  • #2,233
  • Edited 8:24am Dec 29, 2008 8:12am | Edited 8:24am
Tks for the quick reply KG, I did that, but it didn't help. I think I may have to uninstall/reinstall.
  • #2,234
  • Dec 29, 2008 8:34am Dec 29, 2008 8:34am
Quoting sundog
Tks for the quick reply KG, I did that, but it didn't help. I think I may have to uninstall/reinstall.
Ignore it, as long as the EA is work. It's happened to me too.. but the EA still working..

Regards,

KG
  • #2,235
  • Dec 29, 2008 9:00am Dec 29, 2008 9:00am
Hi KG

Lower time frame seems to be not good, I think due to thin volume
  • #2,236
  • Dec 29, 2008 9:07am Dec 29, 2008 9:07am
Quoting harigp
Hi KG

Lower time frame seems to be not good, I think due to thin volume
yup.. H1 is better. have you test on H4 or D1 Time frame? Try it, less of stress and fun with 6 triggers...

Regards,

KG
  • #2,237
  • Dec 29, 2008 9:11am Dec 29, 2008 9:11am
Here is another little pressie.

Drag the script onto a chart and it will display the profit made on trades stored in the History tab, as a percentage of the account balance.

I have made just over 3% today.

Attached File(s)
File Type: mq4 Profit Percentage Display.mq4   2 KB | 527 downloads
  • #2,238
  • Dec 29, 2008 9:38am Dec 29, 2008 9:38am
Don't enable AUD as a trigger. I have just started coding a NZD trigger and noticed a mistake in the coding that will cause the EA to enter AUD baskets when they are not required.

This will be corrected in V8.

  • #2,239
  • Dec 29, 2008 10:53am Dec 29, 2008 10:53am
Was just curious how many pips a successful basket should yield? Steve, since you are trading this live on JPY basket, what are you using for SL/TP and JS?

I would think this isn't back testable, so being able to determine appropriate stop and target levels for each basket may be difficult?
  • #2,240
  • Dec 29, 2008 12:45pm Dec 29, 2008 12:45pm
The EA is now set up in H1, H4 AND Daily

Many baskets were open and closed with TP $ 2

The only thing I am not aware is from which time frame the EA opened contracts

I will be changing the TP on higher figure from tommorow
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