Relative Strength Basket Trading System

Already with Alpari.

Trading 0.01 lots which equals 0.07 pence per pip. Steve has 0.01 = 0.01 pence which is what I am looking to open.

Eddie

BOE cut to 1.5% has made the market un-tradeable in mu opinion.

Good luck boys and girls

Eddie

Eddie, adding in the validation time has called for a complete rewrite of some of the code. I have done the JPY group, so all it needs now is to copy/paste and change the relevant variables. This takes time and I have to start my paid work in a few minutes, so I might not be able to put up the finished article until tomorrow.

Still, I have tested the function on xxxJPY and all seems ok. How many minutes do you think the validation period should be, because I will set that as the default?

Steve...you are awesome! Thanks for your tremendous effort.

Misterpipster

Default looks good at 3 minutes.

I am guessing this will be a user defined option?

Eddie

If you downloaded V3 from my previous, now deleted, post then you might like to redownload.

I forgot to update the screen feedback to show the 'validating' message for the non JPY triggers in the original release, because I was in a hurry to release it before some piano pupils turned up for lessons. I have corrected this.

Here is the original post:

V3 is attached.

I have not updated the user guide yet, so here is what is new:

1. PendingTimeFilterMins is the length of time a basket should be pending before starting the validation process. I have just noticed that I have accidentally sent this with a default of 1, so remember to change this to 3.
2. Once the trigger strength passes the boundary that makes the EA regard a basket as 'pending', you will see the usual 'basket pending' message.
3. Once the trigger strength passes back through the point at which the EA previously sent a basket of trades, it passes into validation mode. The screen will show a validation message.
4. After PendingTimeFilterMinshas passed, the EA will check the strength of the trigger. If the strength is still within the value that would previously have made the EA send a basket, it will proceed to do so. If the strength has retraced back to the value that the EA regards as 'pending' then it will cancel the pending trades and start the process again.

As usual, this version is for demo only. Please load it onto your demo accounts and report anything that appears to be wrong.

You are welcome, although I can only take credit for coding the ideas. These come from:

1. KG, for kick-starting the whole thing.
2. elchoco for his retracement idea.
3. Eddie for the basket validation idea.

Ok, so I spotted the extreme-range thing, but I wasn't alone in this. I just made more of a fuss about it than others.

Steve tanks for this. I PM'd you, let me know.

Eddie

Steve

Any reason why the text is too the right in the new version?

Eddie

Hi Steve (Great Work by the way much apreciated)

This is just an observation and i hope you dont maind and that this makes sense

 

1. As per your explination the system will now first set in to pending then will go into a validation porcess and if it passes validation then send the basket if not then will go back to scratch
2. if this is correct then there is a chance the trade will not take place and event though i agree the validation process prevents entering when devaluation is occuring it will also prevent a good basket opening as once the devaluation takes place it does eventually go in the right direction as proven in almost 90% of the cases just using examples seen in the thread. The problem is that the actual entry was at the wrong time.
3. So i would propose that the EA does not revert back to waiting for pending but rather goes into a loop where it checks after x amount of minutes if the trade is ready to again and continues to do so until the flat period is over.
4. e.g. scenario where validation fails Pending > Validation > Pending > Validation > Pending > Validaiton Eventually send Basket.
5. If this is what the EA is already doing then disregard

1. PendingTimeFilterMins is the length of time a basket should be pending before starting the validation process. I have just noticed that I have accidentally sent this with a default of 1, so remember to change this to 3.
2. The PendingTimeFilterMins can act as the reptative validation
3. Once the trigger strength passes the boundary that makes the EA regard a basket as 'pending', you will see the usual 'basket pending' message.
4. Once the trigger strength passes back through the point at which the EA previously sent a basket of trades, it passes into validation mode. The screen will show a validation message.
5. After PendingTimeFilterMinshas passed, the EA will check the strength of the trigger. If the strength is still within the value that would previously have made the EA send a basket, it will proceed to do so. If the strength has retraced back to the value that the EA regards as 'pending' then it will cancel the pending trades and start the process again.

By the way this sugestion is based on the information on the charts off of the thread and the fact that the flat period on the charts seems to hover then move in the right direction most of the time its just the falt period that needs to be avoided and which causes the greatest dd.

My charts show a flatening but not as often and on smaller time frames it is easier to catch before it gets completley out of hand.

That said you would have to be watching the trades constantly.

Hope this all makes sense.

Left, right, left right left?

'Cos Alpari are rubbish?

'Cos your platform is corrupted?

Late millennium bug?

Not a hint of a clue. Hasn't happened to me yet.

Ok, I hope this is right and that this is the way Steve interpretated my request for this feature.


Say your lower level is 20, with a difference of 5.


level reaches 20, pending is triggered, retraces to 25 trade triggered. (this is how it used to be)

Now......

level reaches 20, pending is triggered, retraces to 25, Validating starts for say 3 minutes.

If trade hasn't gone under 25 then it will open.

If trade has gone under it should re-enter pending and start the "loop" again.

------------------------------------------------------------------

Experience with both demo and live accounts on this EA have showed this to be a much needed safe gaurd, and yes it will kill off good trades..... you can however set it to "0" and it will have no effect at all.

Personally I dont mind killing off a few good baskets if it means stopping a few bad baskets. In fact to have a smaller number of safe trades is more to my liking than a larger number of less stable baskets.

Either way you can switch it off if you dont want it. I suggest testing it either way.

Eddie

Possible but this is programme specific, not broker controlled.
check, restarted.... still the same

lol - I am sure there is an age joke I can do here..... lol

Not a hint of a clue. Hasn't happened to me yet.

[/quote]

EA seems to run fine either way!

Eddie

So long as the EA does its thing, that is what really counts.

I have it running on an Alpari demo without display probs, so no idea what might be causing them at your end. Tried rebooting? Ritually disembowelling chickens?

Personally I dont mind killing off a few good baskets if it means stopping a few bad baskets. In fact to have a smaller number of safe trades is more to my liking than a larger number of less stable baskets.

I agree with this in principle.

Either way you can switch it off if you dont want it. I suggest testing it either way.

Just trying to figure out if it will go back to pending loop to pass the devalutaion period as it will likely fluctuate atleast one or two percent up and down of the (say 20%) mark during devalution but not much more than that.

Swithching it off without testing is a bad idea too and it is a saftey net too.

Also if it could do the whole validation test until the devalution period is over even better because then a potentialy bad trade under the old EA has the potential to be a good trade.

I hope that makes sense.

It probably know I am defecting to your broker and Alpari wants to play up!

I now understand that you have to open a Mini account with them and trade the Micro lots thought them.

Just before I waste my time (and I know your also in the UK Steve, your pip value is 1 pence right?

Eddie

All sounds good to me - it now needs a weeks test as previous versions have had.

Remember to post your results......

Eddie

yep will do. need to tweak and well take time out to regularly read the thread end up leaving page loaded a few days then getting round to reading all missed posts.

That is right, Eddie.

Opening an account with them was a bit of a faff when I did so a couple of years ago, and I cannot remember what the minimum deposit was. Best to check with them that micro-lots (1 pip = 1 pence) are still available to new account holders. My guess is they are, but that is only my guess.

I shouldn't leave it too long, if I were you. This thread moves at warp speed