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Slingshot-30 Min. PA System

  • #341
  • Jan 20, 2009 11:42pm Jan 20, 2009 11:42pm
Quoting trendchaser
i had made a candle pattern indy, thought id mod it to show slingshot entries

it will alert, should be very useful for this strategy
the alert is a thump sound, in editor, you can copy n past the loud alert in if u like

How do we attach it to the chart? To the expert folder or indicator? I tried expert folder but can't do anything..

EDIT: Ok.. got it.. should attach it to indicator folder.. Very useful indeed.. Thank you very much!!
  • #342
  • Jan 21, 2009 6:04am Jan 21, 2009 6:04am
Quoting trendchaser
heres the files

tester-tools is the ea

trendchaser companion is a blank indicator so that the chart stays clean

the 2 scripts are designed to trade the lines, using the lines for sl

also if the ea is on, and you move a line
the sl will be updated

if you dont wish to move the sl, the ea is not needed, the scripts will trade the lines regardless if the ea is present

to place a pending order, use the red and blue, buy/sell labels is the companion

a pending buy is opened at red line, with sl at blue line
opposite for sells

theres also...
Hey Trend Chaser...does your "trade the lines" EA only manage certain trades or will it manage all open trades for that pair?
"Keep your eyes on the helpers" - Mr. Rogers
  • #343
  • Jan 21, 2009 7:30am Jan 21, 2009 7:30am
all trades
  • #344
  • Jan 22, 2009 7:08am Jan 22, 2009 7:08am
Quoting Ronald Raygun
Check the most recent version on this thread. I believe the fix has already been added.
Hi RR

Could you please change your Slingshot EA to trade only once per opened bar as very often after order closed with a profit it opens another positions which end up with a loss.

Thanks a lot.
  • #345
  • Jan 27, 2009 9:09am Jan 27, 2009 9:09am
Hi,

Thanks for sharing your ideas.
Can you post for me please your EA. my EA is not working.
please help me.
Thanks,
Pad
quote=thatwasme;2472546]PM me with very clear instructions for entries, exits, filter rules and Stop Loss and Take Profit and enter multiple times on a single bar, ect, and I will modifiy mine to do it. Mine meets all of the requirements of the original method exactly, so it should be easier to modify. Also I have Automatic money management built into mine and it adjusts automatically for a 5 or 4 digit broker. Please be clear and precise.[/quote]
  • #346
  • Feb 3, 2009 5:30pm Feb 3, 2009 5:30pm
Quoting soloFx
using the history
the errors are still the same
SlingShot system EURUSD,M30: OrderSend error 4051
SlingShot system EURUSD,M30: invalid lots amount for OrderSend function

have tried various lot sizes with the same result..

P.S Ok, manually modified the SlingShotsystem.mq4 and it stared working...

Hi Solofx.

Can you just clarify what you amended manually to get it working please.

I noticed that RR kindly posted his code at 1.58 on the 16th and your comment followed a little later in the day.

I haven't seen an updated version from Ronald so your findings would be apprciated.

Thanks in advance.

Nigel
TQO23
  • #347
  • Feb 3, 2009 6:39pm Feb 3, 2009 6:39pm
Quoting kramlon
Hi RR

Could you please change your Slingshot EA to trade only once per opened bar as very often after order closed with a profit it opens another positions which end up with a loss.

Thanks a lot.
set MaxTradesPerBar to 1...
  • #348
  • Edited 4:50pm Feb 4, 2009 3:45pm | Edited 4:50pm
Wrote an EA and running it against EURUSD...
Running it for the last two day..Not great results as of now...

Verified the trades by checking the M1 chart..saw that most of the trades were in profit at some time but closed at a loss in the end(at the end of the 30min bar)...
introduced a profit management function to my EA...Moving the stop loss to open price once 10pips in profit is seen.
  • #349
  • Feb 4, 2009 6:10pm Feb 4, 2009 6:10pm
Quoting Ronald Raygun
set MaxTradesPerBar to 1...
Hi Ronald.

Firstly I admire the work you are doing writing, and then sharing your EA's. However it does make it very hard to raise concerns or challenge when you are putting so much effort in.

Have been testing your Sligshot EA having been running manually for a couple of weeks, with some success.

Today the EA placed 2 losing trades where the trading system rules did not appear to have been followed.

Reference to the attached chart:-

Trade 1 should have entered 1 pip above the 12:00 setup exit level, ie 88.94 instead of 89.07. This is a classic case where the trade price dropped below the bottom of the setup bar and then came back up above the setup bar exit price. Stop should have been around 88.88 ie 1 pip below the bottom price of the 12:00 setup bar. Trade close should have been at the exit price of the 12:30 bar, around 89.00 although your code may manage the exit price differently.

Trade 2 was another buy which should not have triggered as it should have been looking for a sell after the previous buy trade. However this trade just did not follow the rules for entry and as such should not have triggered.

It may well be that I'm missing some here and without the knowledge of how your code works I could be misinterpreting what you want to happen. However if I simply apply the rules as detailed in the info provided by Martin Alexander the EA just doesn't appear to be following them.

Appreciate your comments.

Regards

Nigel
TQO23
Attached Image (click to enlarge)
Click to Enlarge Name: slingshot screenshot - wrong trades.gif Size: 21 KB
  • #350
  • Feb 4, 2009 6:26pm Feb 4, 2009 6:26pm
The EA was designed to follow these rules:

Long entry-
Bar goes below the Low of previous bar.
Then
Goes above the Close of the previous bar.
Enter 1pip + spread above the Close of previous bar.
SL- 1 pip below Low of current bar.
Exit at close of current bar.

Short entry-
Bar goes above the High of previous bar.
Then
Goes below the Close of the previous bar.
Enter 1pip below the Close of previous bar.
SL- 1 pip + spread above the High of current bar.
Exit at close of current bar.

I ran a quick visual backtest and everything looks ok. I'll leave it running for awhile and I'll go over the trades in the chart after my nap. (32 hrs with no sleep kills =D)
  • #351
  • Feb 4, 2009 8:02pm Feb 4, 2009 8:02pm
Quoting Ronald Raygun
The EA was designed to follow these rules:

Long entry-
Bar goes below the Low of previous bar.
Then
Goes above the Close of the previous bar.
Enter 1pip + spread above the Close of previous bar.
SL- 1 pip below Low of current bar.
Exit at close of current bar.

Short entry-
Bar goes above the High of previous bar.
Then
Goes below the Close of the previous bar.
Enter 1pip below the Close of previous bar.
SL- 1 pip + spread above the High of current bar.
Exit at close of current bar.

I ran a quick visual backtest and everything looks ok. I'll...
Ron, here's something that happens if you came across it. When the bar closes at the very top or bottom and the next bar opens, it gets in the trade right away, because its right there and hits the high or low and it goes negative fast and hits the stop. With the EA on is there anything to prevent that. even if you do it manually that always produces more stoploss. Can anything be done about it.
My Email For Help: [email protected]
  • #352
  • Feb 4, 2009 9:48pm Feb 4, 2009 9:48pm
I agree that is a problem. How does the original system creator solve it?
  • #353
  • Feb 4, 2009 10:23pm Feb 4, 2009 10:23pm
i would create a buffer maybe 1-10 pips just so it had to go and come back
the markets moving, time to get in!
  • #354
  • Feb 4, 2009 10:56pm Feb 4, 2009 10:56pm
What does martin alexander say?
  • #355
  • Feb 4, 2009 11:42pm Feb 4, 2009 11:42pm
Quoting Ronald Raygun
What does martin alexander say?
Trying to send a message to him, but I still didn't get anything on it yet.
My Email For Help: [email protected]
  • #356
  • Feb 5, 2009 12:00am Feb 5, 2009 12:00am
Quoting Ronald Raygun
I agree that is a problem. How does the original system creator solve it?
Ron why don't you add in the EA that:
When Bar is closing at top or bottom,next bar open the EA will add a Safety Buffer of 15 pips to go higher,and then it will put the sell stop at preivious bar close and 15 pips to go lower and then it will put a buy stop at preivious bar closed.
My Email For Help: [email protected]
  • #357
  • Feb 5, 2009 12:27am Feb 5, 2009 12:27am
I can, but what's the basis behind that?

I firmly believe that this system is a counter-trend system, adding a pip buffer defeats that purpose. Personally, I'd probably just ignore those type of bars altogether because they are usually signs of a reversal
  • #358
  • Edited 1:11pm Feb 5, 2009 3:48am | Edited 1:11pm
Quoting Ronald Raygun
What does martin alexander say?
Hi Ronald.
OK it looks like your rules follow what Martin says but there are a couple of criteria that must apply before a trade is entered.
1. Setup bar MUST have a minimum difference of 15 pips between high and low to be a valid setup bar.
2. Open of next bar MUST BE BELOW close of the setup bar (for a long trade) , even 1 pip
I think you look for the minimum 15 pips but do you look for the opening to be below the close of the previous bar (in a long trade)? It doesn't appear so on Trade 1 of the chart I posted a couple of messages ago?
I've looked at the video again and at the examples he walks through but every one shows that the market moves a few pips (in some cases significantly) before it reverses and crosses the previous setup bar close, which triggers the trade.
With regard to opening trades at the top/bottom of the setup bar I agree that a buffer needs to be inserted here but it's a "suck it and see" situation regarding what this buffer should be.
How about an "opening trade buffer" parameter that users could input based on their attitude to risk and possibly market volatility?
Welcome thoughts on this from more experienced forex traders than myself.
Keep up the great work.
Nigel
TQO23
  • #359
  • Feb 5, 2009 1:20pm Feb 5, 2009 1:20pm
Quoting Tqo23
Trade 2 was another buy which should not have triggered as it should have been looking for a sell after the previous buy trade. However this trade just did not follow the rules for entry and as such should not have triggered.
TQO23
TQO23,
With slingshot system, we dont alternate trades...just take which every trade is triggered.fyi.
  • #360
  • Feb 5, 2009 1:32pm Feb 5, 2009 1:32pm
Quoting brk15brk15
TQO23,
With slingshot system, we dont alternate trades...just take which every trade is triggered.fyi.
Thanks for clarifying BRK15BRK15. So this is not the Martin Alexander slingshot system then?

If it is in any way based on the MA system then what are the rules that allowed it to open the trade number 2 as per my chart below?

I think it will partly be removed if you can resolve the issue of getting in a trade when the close is at the top/bottom of a bar.

I'll keep watching the thread with interest.

Regards

Nigel
TQO23
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