Inside Bar Trading Revisited | Page 12 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

3 Bar Fractal with mid-bar and bar on each side 11 replies

Inside bar or outside bar identifier 7 replies

Journal related to: Advanced Inside Bar (IB) Trading 19 replies

Pin bar, pin bar, pin bar 0 replies

Attachments: Inside Bar Trading Revisited
Exit Attachments

Inside Bar Trading Revisited

  • #221
  • Jan 26, 2009 12:58am Jan 26, 2009 12:58am
Quoting Abnormalone
How would you handle weekend with the EA if you were trading live. I choose to close all trades right before the close Friday and not to turn it back on till after the market opened again on Sunday. If I had left it on I would be losing money on GBP/USD but making money on EUR/GBP and had a good trade going on EUR/JPY. Some how it did open a trade in EUR/USD (must have turned it on before that one had traded). I was afraid to leave it on for fear of gaps but I guess I should have in order to get the same trades the strategy tester would.
I'm avoiding doing any time related code at the moment. I'm not sure the MetaTrader language can show me timezone related information.

One thing I could do is to enable a property to turn off trading when set. It would still continue to manage existing trades but would not open any new ones. This would mean that you would need to set it for each EA you are running. Useful?
  • #222
  • Jan 26, 2009 1:04am Jan 26, 2009 1:04am
Quoting smilee89
SL is the opposite side of the CB.
If SL hit i take the opposite side trade on the same conditions as the origianl trade (sometime I double the lot size).
Hmm, I've noticed this on occasion where a trade gets triggered and then price drops through the SL and out the other side. The EA won't trade the same IB twice, maybe I should relax this constraint?
  • #223
  • Jan 26, 2009 2:33am Jan 26, 2009 2:33am
Yep, Already -£30. So, we somehow need to have a small SL. Lossese are in 10s and the profits are in ones (single digits). We need to really look into this.
  • #224
  • Jan 26, 2009 8:21am Jan 26, 2009 8:21am
Thanks for the replies. I will update my EA this morning. As it was, I left the "problem" one on overnight as it was plenty late. This morning, I see it has placed a slew of trades. The results are negative, but at least it was working.
  • #225
  • Jan 26, 2009 10:59am Jan 26, 2009 10:59am
I downloaded the "Pivot Point" EA to my IBFX platform but it does not show up in the chart. I have dragged and I have clicked "attach to chart" but to no avail - can someone point me in the direction. I got the EA by clicking on hard1head1's "paper clip" in the upper right hand corner. thank you.
  • #226
  • Jan 26, 2009 1:45pm Jan 26, 2009 1:45pm
Quoting piprac
I downloaded the "Pivot Point" EA to my IBFX platform but it does not show up in the chart. I have dragged and I have clicked "attach to chart" but to no avail - can someone point me in the direction. I got the EA by clicking on hard1head1's "paper clip" in the upper right hand corner. thank you.
Hi piprac,

Did you place it in the experts\indicators directory of your installation? You may need to exit IBFX to get it to be recompiled when you next start up.
  • #227
  • Edited 2:29pm Jan 26, 2009 2:12pm | Edited 2:29pm
I've posted an update to the EA and placed it in the first post.

  1. Changed BUY open trade to use spread.
  2. Added ability to only trade Long if price above Daily Pivot Point and vice versa (enable with UsePivotIndicator property)
  3. Changed the ATR trailing to be based upon a user specified factor e.g. 0.5 * ATR. Change this with the TrailATRFactor property.
  4. Removed the MaxStart parameter (well the related code). This stopped a trade opening if it was x-points past the IB. I MAY ADD THIS BACK as it may now open trades well past the opening point.

Feedback is welcome.

Note that the DPP is calculated with regard to YOUR timezone. MetaTrader does not seem to have the ability to retrieve time relative to GMT

Notes on various stuff:

  1. The initial TP is fixed at 1/2 the ATR value.
  2. Use TPFactor to change the ATR value used. e.g. a TPFactor of 0.6 will change TP to 0.6*ATR and the initial TP will now be 0.5*0.6*ATR or 0.3*ATR.
  3. The TrailATRFactor is independent of these. So you can set an inital TP as a factor of ATR and trail the remainder with a different value.

  • #228
  • Jan 26, 2009 2:38pm Jan 26, 2009 2:38pm
I am sorry I can't test your EA (it seems you do a good work), as I am developing another EA for this method and I have many researches to di with it.
Sorry, I can't upload it to the forum. My partners want to have it for themselves as for now.
  • #229
  • Jan 26, 2009 3:03pm Jan 26, 2009 3:03pm
Quoting 1ka
Hi piprac,

Did you place it in the expertsindicators directory of your installation? You may need to exit IBFX to get it to be recompiled when you next start up.
Yes I did but it just won't show up. I don't know what's going on; I may cruise the threads and see if I can find a Pivot Point indicator somewhere and then try to install it. I would think that a Daily PP is a DPP. thanks for your help, p.
  • #230
  • Jan 26, 2009 3:38pm Jan 26, 2009 3:38pm
Quoting piprac
Yes I did but it just won't show up. I don't know what's going on; I may cruise the threads and see if I can find a Pivot Point indicator somewhere and then try to install it. I would think that a Daily PP is a DPP. thanks for your help, p.
I use the one attached, which came from somewhere in this thread -> http://www.forexfactory.com/showthread.php?t=40325
Attached File(s)
File Type: mq4 Pivot Points Multitimeframe.mq4   45 KB | 409 downloads
  • #231
  • Jan 26, 2009 3:43pm Jan 26, 2009 3:43pm
I'll get me coat.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 73 KB
  • #232
  • Jan 26, 2009 7:59pm Jan 26, 2009 7:59pm
Quoting 1ka
I use the one attached, which came from somewhere in this thread -> http://www.forexfactory.com/showthread.php?t=40325
Thank you very much, you will go to heaven! You have no idea how much time I spent trying to find and install it. Thanks again and good trading, p
  • #233
  • Jan 27, 2009 6:14am Jan 27, 2009 6:14am
Attached is a graph showing the trades and profit by hour of day.

I probably need to draw this for each currency to be more meaningful.

Note that I don't often leave the EA running overnight, so these trades are not as well represented.
Attached Image
  • #234
  • Jan 27, 2009 6:22am Jan 27, 2009 6:22am
And here's a currency one.
Attached Image
  • #235
  • Jan 27, 2009 4:02pm Jan 27, 2009 4:02pm
How bad can it get?

.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 74 KB
  • #236
  • Jan 27, 2009 5:52pm Jan 27, 2009 5:52pm
Quoting sebby2468
I think the win ratios are fantastic,I feel its up to the trader to get as much out of a trade as he can,every trade is different and you have to be able to see what is happening price wise.An EA I feel can't do this,and I always trade manually on live account.
Also if it is in a strong trend don't close out all your position leave say 25% on and let it run,you won't get that many,but the ones that go can make you thousands of pips,also have you tried only entering trades when the entry bar is the same colour as the trigger bar?
very intersting! im only on page 8 of this thread.... trying to read through the whole thing...... has this question been studied? just beeing impatient.
like the thread so far.... will keep reading. BTW PM me if this doesn't belong in the current discusion.
-Steve
  • #237
  • Jan 28, 2009 12:40am Jan 28, 2009 12:40am
Quoting DenverTrader
very intersting! im only on page 8 of this thread.... trying to read through the whole thing...... has this question been studied? just being impatient.
like the thread so far.... will keep reading. BTW PM me if this doesn't belong in the current discussion.
-Steve
Thanks, I need to re-read the thread to create a to-do list of things

The EA will attempt to follow trends with a trailing stop. I've tried leaving the stop wide open, but after a certain point it generally comes back. (On EURUSD)

Haven't tried the 'same colour' rule. Anyone any experience with this?
  • #238
  • Jan 28, 2009 1:15am Jan 28, 2009 1:15am
Having watched many trends break an IB and then gently reverse to hit my SL and go 100 pips the other way, I wondered if there was any benefit in placing trades at either end.

So an overhaul of the EA to place pending trades at either end of the IB was the result. The trades expire after 3 hours so they won't get hit 'accidentally'.

Well, in the charts below (before/after) the results are not much better. Obviously many more trades are shown, due to ALL IBs now being tradeable and the fact we can trade both sides.

A nice diversion, but not a long-term prospect, I think.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 114 KB
Click to Enlarge Name: Picture 2.png Size: 112 KB
  • #239
  • Jan 28, 2009 2:13am Jan 28, 2009 2:13am
I added a routine to check for the Support and Resistance levels and to NOT trade is the price is within range.

In the initial version the EA just checks to see if the price is within a 'bar' (based upon the ATR) of the S/R level.

Did it make a difference? Not really, I can't see anything major. Overall win ratio goes down, but average profit/loss per trade increases/decreases which is nice.

It might be worth tweaking the logic to check not only range but trade direction. i.e we can still sell if we're below the resistance lines. Might add DPP into the mix also.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 114 KB
Click to Enlarge Name: Picture 4.png Size: 113 KB
  • #240
  • Jan 28, 2009 4:52pm Jan 28, 2009 4:52pm
Still losing.

Attached Image (click to enlarge)
Click to Enlarge Name: Picture 1.png Size: 74 KB
1 trader viewing now