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eur/usd scalping method

  • #41
  • Jan 2, 2009 4:46pm Jan 2, 2009 4:46pm
Rather that use a MTF psar, which could change before the 15 minutes are up...would you be better to use the same psar indicator with a setting that mimics a longer timeframe? It might look something like this..plus the slope direction line. Only one spot today where you get caught in a bit of whipsaw and you would have made it back easily.
Cheers
CanuckCT
Attached Image (click to enlarge)
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  • #42
  • Jan 2, 2009 4:47pm Jan 2, 2009 4:47pm
Reminds me of the work trendchaser was doing.
Cheers
CanuckCT
  • #43
  • Jan 2, 2009 5:09pm Jan 2, 2009 5:09pm
here's a colored version
Attached File(s)
File Type: mq4 Parabolic SAR Color - Alert.mq4   3 KB | 1,127 downloads
  • #44
  • Jan 2, 2009 5:38pm Jan 2, 2009 5:38pm
I will reserve judgment until i demo trade this for awhile just to see. At first glance it looks like there would be times you would be whipsawed til you had a margin call. There has to be an active day of trading for this to work or succeed. It is simple and not cluttered up with indicators.
  • #45
  • Jan 2, 2009 8:04pm Jan 2, 2009 8:04pm
Ronald,
Thank you for making this EA to test. Question, what is the difference between timeframe, and timeframe minutes, in your in puts section. If I'm testing on 5m chart would I set both to 5? If so, why is it there twice?
Thank you in advance for your answer and skills, I'm just a 51 year old, doing my best.

Sir Viver.
“The waiting is the hardest part” Tom Petty
  • #46
  • Jan 2, 2009 8:24pm Jan 2, 2009 8:24pm
Quoting SirViver
Ronald,
Thank you for making this EA to test. Question, what is the difference between timeframe, and timeframe minutes, in your in puts section. If I'm testing on 5m chart would I set both to 5? If so, why is it there twice?
Thank you in advance for your answer and skills, I'm just a 51 year old, doing my best.

Sir Viver.
Each setting controls the timeframe used for the PSAR and Slopedirection respectively.

So I could have a 5 min PSAR and a 15 min Slopedirection and attach the EA on a 1M chart.
  • #47
  • Jan 2, 2009 8:28pm Jan 2, 2009 8:28pm
Now that is a great feature! Don't know why I didn't figure that out.
Thank's again.

Sir Viver.
“The waiting is the hardest part” Tom Petty
  • #48
  • Jan 3, 2009 4:21am Jan 3, 2009 4:21am
I wanted to say thanks to everyone for their hard work and contribution to the thread.
  • #49
  • Jan 3, 2009 4:25am Jan 3, 2009 4:25am
Ronald,

How did you handle exits?

Pete
  • #50
  • Edited 7:14am Jan 3, 2009 7:03am | Edited 7:14am
Very interesting little system with few indicators to distract one.
That said, I just had to distract myself a little with the Stoch & Wolfwave indicators.

Seems to work well on USD/JPY, will give it a spin on Monday with the EA Ronald so kindly made.

PS: Ronald, what is the magic number and how does one set it?

I will of course also trade it manually.

Many thanks
Attached Image (click to enlarge)
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Starting to see instead of just looking.
  • #51
  • Jan 3, 2009 8:44am Jan 3, 2009 8:44am
Magic number is a feature placed in most EA's nowadays which insures any trades that aren't made by the EA aren't closed or modified in any way by checking to see if the trades magic number corresponds with the EAs.

Its also useful if you're using mutiple EA's on the same currency pairs, as long as their magic numbers are different, they won't mess with each others orders.
  • #52
  • Jan 3, 2009 9:08am Jan 3, 2009 9:08am
A very interesting method, I have to say.

If I have well understood, the signals in the chart are right.

Or I think so.

Or Do I have misunderstood ?
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  • #53
  • Jan 3, 2009 9:32am Jan 3, 2009 9:32am
At the beginning of a new parabolic it is 100% in agreement with the slopeline everytime so long or short is simply the beginning of any parabolic, because the slopeline is faster than the parabolic it provides the exit signal.

So looking at history thats all I can tell from this system para is entry and slope is exit...

Will try it on monday see how it goes, Id say the 1min TF is to short for such fast scalping the spreads would likely render it useless 5min might even be pushing it.

On the graph posted above if you was strictly following the rules you would exit imminently after your entry on the small red dash of the slopeline so it would of been a loss. Even on the exit point shown it would be loss because you enter at the top of the white bar and exit at the bottom of the black +spread looks like 0 or - profit.
  • #54
  • Jan 3, 2009 9:44am Jan 3, 2009 9:44am
Quoting Ronald Raygun
Unfortunately, I can't code indicators very well yet. Still learning.


I did however whip up a quick EA which looks for both the PSAR and SlopeDirection to have the same direction before placing a trade.

You can choose the timeframe referenced for both the PSAR and SlopeDirection indicator. Also, as a quick note, you'll need this version of slope direction in your experts/indicators folder in order for the EA to work.

Keep in mind that if you just want the signals from the EA, set SignalsOnly to "True" and pick whatever combination...
Thanks for posting this. Is it possible to backtest this EA? Regards Vimal
  • #55
  • Edited 10:31am Jan 3, 2009 9:50am | Edited 10:31am
Quoting Ronald Raygun
Unfortunately, I can't code indicators very well yet. Still learning.


I did however whip up a quick EA which looks for both the PSAR and SlopeDirection to have the same direction before placing a trade.

You can choose the timeframe referenced for both the PSAR and SlopeDirection indicator. Also, as a quick note, you'll need this version of slope direction in your experts/indicators folder in order for the EA to work.

Keep in mind that if you just want the signals from the EA, set SignalsOnly to "True" and pick whatever combination...
Hi Ronald, May i know any specific reason why your default period setting for slope direction in your ea was 12...the default seting in the indicator itself was 80??

Also the slope direction logic in your ea i believed it suppose to be ...SlopeDirectionBlue and red !=EMPTY_VALUE instead of < and > 0
  • #56
  • Jan 3, 2009 10:00am Jan 3, 2009 10:00am
When trading live, its not possible to tell whether the PSAR and the Slope indicator will be for a long or a short since it all depends upon the completion of the candle also and not just prior price action as all indicators depend upon. How do you determine whether to take the trade or not?
  • #57
  • Jan 3, 2009 10:07am Jan 3, 2009 10:07am
I simply wait for the candle to close, and enter as long as it paints the sar on the same side at the open of the second candle and the slope line is the same colour, you miss out on a couple of pips sure, but better safe than sorry.

5 min timeframe people... its the way to go
  • #58
  • Jan 3, 2009 10:36am Jan 3, 2009 10:36am
Quoting PTOURNIS
Ronald,

How did you handle exits?

Pete
Opposite signal, TP, SL, and TS.

Quoting vnathwani
Thanks for posting this. Is it possible to backtest this EA? Regards Vimal
Have you tried to backtest it?

Quoting mazidah37
Hi Ronald, May i know any specific reason why your default period setting for slope direction in your ea was 12...the default seting in the indicator itself was 80??
That indicator is a leftover from a thread called "Trade The Slope". The settings you see in the version of the indicator I posted had a timeframeminutes parameter which allowed you to use several different timeframes on one chart.

Quoting et_phonehome_2
When trading live, its not possible to tell whether the PSAR and the Slope indicator will be for a long or a short since it all depends upon the completion of the candle also and not just prior price action as all indicators depend upon. How do you determine whether to take the trade or not?
The EA takes the trade whether there is a signal or not. You can decide whether the EA takes a signal during the bar or at the end of the bar by using the "EachTickMode" setting. "False" means end of bar, and "True" means during the bar.
  • #59
  • Jan 3, 2009 11:02am Jan 3, 2009 11:02am
Quoting Ronald Raygun
Opposite signal, TP, SL, and TS.



Have you tried to backtest it?



That indicator is a leftover from a thread called "Trade The Slope". The settings you see in the version of the indicator I posted had a timeframeminutes parameter which allowed you to use several different timeframes on one chart.



The EA takes the trade whether there is a signal or not. You can decide whether the EA takes a signal during the bar or at the end of the bar by using the "EachTickMode" setting. "False" means end of bar, and "True" means during...
Hi Ronald. Thanks for the reply. i did try and backtest but it came up with no results at all so not sure whether i have done something incorrect in the process or whether the EA won't allow backtesting.
  • #60
  • Jan 3, 2009 11:24am Jan 3, 2009 11:24am
Quoting vnathwani
Hi Ronald. Thanks for the reply. i did try and backtest but it came up with no results at all so not sure whether i have done something incorrect in the process or whether the EA won't allow backtesting.
Check the journal in the backtest. Do you see errors for "invalid lots"?

90% of the problems people have with my EAs revolves around that problem. The solution naturally is to make sure the lot size is not 0.
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