Slingshot 30M & 1H - The 2nd Coming......

The EA should use the s/l parameter for the 1st bar. It is not until the close of that first bar that the S/L should be adjusted to either below or above the the entry bar for the new s/l setting?

I just got here, is that the way the EA is set-up?

Thanks Orest... I will test this new version tomorrow.

I am afraid that I needed to restart my platform, and so the slingshot bars will be tainted, adn i am too tired to figure it by hand. Just by looking at things though, I think we would have had a pretty good day.

We'll see what tomorrow brings.

Hi Guys -
I've been away for a few days on family business - threads been busy and that's good.
damonl - the results your getting are a great inspiration to go forward!
Orest - thanks for the hard work on the ea, very nice programming. Looking forward to helping with the testing.
To llambert3 (and others) who have provided the detail testing, its appreciated.

Attached is a 'family' of filter indi's based on the list in post 1. I'll give a little description, but the best thing is to try them out and provide feedback if you think they will be helpful. Haven't had the test time to see if all the bugs are out (except for the first one). Ok - here we go.....

1. SSMaxMacdFilter - identical to the MaxMacdTrendSetter_v3 except I changed the name to get the members of the indi family all using the same approach to naming them.

2. SSStochFilter - works like the first filter except it used the stoch data to determine trend. Blue vertical lines = long trend, red vertical lines = short trend.

3. SSZZiFilter - works like the two above except it is based on the zzi data.

4. SSAMacdFilter (Avanced Macd Filter) - not yet written, will do so if damonl decides this is worth doing and provides the info on the 'hows and whats' we need need to use for this filter.

5. SSMultiFilter - The above filters have to be used one at a time because they all draw blue and red vertical lines (or what ever color you may change them to). However, the more filters the more vertical lines and the more confusion on the screen. So, I wrote an indi that displays in a separate window. The filters are displayed as different colored horizontal lines, each filter has a different value. For example, the maxmacdfilter defaults to red and its values are +1 (= long trend) or -1 (= short trend). The stochfilter defaults to the color blue and its values are +2 (= long trend) or -2 (= short trend). The zzifilter defaults ot the color green and its values are +3 (= long trend) and -3 (= short trend). The default color yellow and the values +4 and -4 are reserved for the amacdfilter if we get that far.
You are given several options in the parameter setting - for example you can display all the filters at once or just one or any combination you like. You also have the option of showing the vertical lines for each filters (just like in each of the single indi's above). For example, if you want to test the stoch filter, turn off the other horizontal lines for the other filters and turn on the stoch vertical lines, put the stochastic indi on the screen and test how the stochastic indi and the stochfilter (horizontal lines and vertical lines) relate to the patterns we are looking for. Don't worry if this doesn't make a lot sense, just play with the indi's and I think it will be pretty obvious how it works.
Bottom line = a quick look at the SSMultiFilter indi tells you immediately the trend for each of the filters. Remember, values above the zero line are long trends and values below the zero line are short trends. The actual values (e.g., +2, -3) mean nothing, they are just used to separate the horizontal lines so we can see more than one indicator (macd, stoch, zzi) at a time. These indies run well in the strategy tester - makes it easy to test and to get acquainted with these new toys.
If you think they are of help, I'll be happy to repair bugs, etc.

One last note - damonl and Orest, if the indi's end up being useful, the code in the SSMultiFilter can be easily put in the ea. The multi indi is a stand alone program.

Gary

Thought a template I use for testing might be of help especially to those who are a bit new to forex! I've also included the indicators addressed in the template except for the stochastic indicator - its the standard one in the custom indicator folder that comes with metatrader.

Note: I used the 'zee zee i' indicator - damonl provided the 'zzi' indicator - they give the same results but I had the .mq4 file for the 'zee zee i' and could not find the similar file format for 'zzi' - damonl, I'll make the change over to your zzi.ex4 format after we test this puppy. I also used a slightly different version of the MACD_inColor for similar reasons and will also change it over after the testing, again gives the same results just made it a bit easier on me for now.

Gary

Hey Orest,

Just a quick test of the ea changing the settings and it now looks to be doing it ok. I did put the stop in. The hi-low setting is to true, but it doesn't seem to be doing that. Also, I had to change the time variables. Finally the only other thing I noticed, which may not be possible for you is the trading stops on Friday earlier than the rest of the week. We may have to pull the trigger on that one manually by shutting it down. Anyway, I'll check in more detail tomorrow, but it looks to be doing it correctly.

I noticed I kept mentioning a missed trade in the past posts because I took a loss last friday and your ea's never picked it up. Well I just realized I should not have taken that trade as the direction was wrong. Sorry about that.

Now SL is set according to Hi/Lo of prev. bar, that's how I understood it. It could be changed later.

Lambert, everything is possible... Regarding Friday at least....

Thanks Orest. Will start forward testing version 1.4 Stop loss is the tricky part because alot of the times price comes back to your favor. Would hate to get stopped out and then it reverse and run a long way. But, that's why we test I guess.

txtaz,
I agree this is kind of system where MM makes 100% of success (or failure).

Sounds good....

Here is how I have been testing it...

When the trade is triggered, let's say it is a long trade for GbpUsd. For GbpUsd I have a hard stop that is set at 45 pips. If at the end of the entry bar, we are not in profit, the stop loss then moves from the 45 pip stop to 1 pip below the low of the entry bar, and here it stays until we get a bar that closes in profit or this s/l gets hit.

I have the new version all set for testing tomorrow, but the stop rule above is how I have been doing all my testing.

Here is what I have been using for initial stops:

EurUsd 35
GbpUsd 45
UsdJpy 25
EurJpy 45
GbpJpy 55

Then after that close of the entry bar, if not in profit, the stops are moved to 1 pip+ spread above the high of the bar or 1 pip below the los of the bar depending on entry direction.

have a great night

Welcome back Gary. Looks great...I am burned out for tonight, but will defintiely get back here to check this all out...

Just wait...I have a nice surprise for all of you. You will like it a lot

Hey Orest, it looks like the entries are good. However, I am unable to get the EA to open up a trade on the H1 TF.

It may be the chart. I will try a different chart and see if that helps.

Great Job!

I am also having the same problem. It is opening trades on M15 chart basis.

It appears that the stoploss is adjusting to +/- 1 pip within the entry bar, rather than after the entry bar closes.

Just my 2 pips worth....

Orders appear to be opening correctly on 30M chart, but like others, it will not open any on the 1 HR charts.

Hi Orest -

I ran the v4 of your ea last night and took 5 trades - all seem to work according to the rules/filters with one exception. Once a trade closed (hit the tp for example), the ea took out another trade on the same bar (yes, I've got the parameter setting for multiple trades set to 1). The ea took 5 trades - three winners and two losers. The winners = +81 pips, the two losers= 86 pips. Both losers were the second trades on the same bar.

In the attached graphic two long trades were taken by the ea on the same bar. To check the idea of multiple trades being executed on the same bar, the ea opened a short trade a little later. Each time the trade got into a profit of a couple of pips, I closed it manually - the ea opened another trade - it did this 5 times in the same one hour bar. To be clear, for the short, I was manually closing the trades to watch how the the ea responded, however, on the long trade, the ea opened and closed both trades on the same bar (I was catching some sleep at the time). The sl/tp seems to be working just fine on these trades.

The ea opened trades on both M30 and H1 charts. However, it didn't seem to open trades on both time frames at the same time if both charts indicated concurrent long trades for example. I need to double check this to make sure my observation is correct - will get back later.
Thanks for all the hard work - progress has been great.

Gary

I left the EA running last night for the EU and GU. It appears to be working properly on the entry.

Only one real issue I'm seeing.

1. It'll open multiple positions within the time frame if the S/L is reached and the price moves back through the close of the previous bar. Don't know if this is by design, but it seems to me that if the S/L is reached - you shouldn't place any more trades during that time frame.

The stoploss logic needs to be updated - but I assume you've seen damonl's feedback on that.

As for the results: Not great. 1/7 -68pips. All on the GU. EU didn't place a trade (because of filter). Those 7 trades were within 3 time frames (30M). In the last time frame it traded 4 times within the same TF.

Orest: just to confirm the TimetoTrade1 and TimetoTrade2 are the hours of trading in GMT correct?

Gary what pair(s) did you run it on?

I traded all 5 pair listed in post 1 and used both the M30 and H1 timeframes. Therefore, I had 10 charts opened. The 5 trades were as follows:

EURJPY - 2 trades both on H1 (same bar)
EURUSD - 2 trades both on H1 (same bar)
GBPUSD - 1 trade on M30.

Gary

Gary-

That multi- filter is awesome BTW. Now we have to test the results when you have divergence or if all three are long/short at once.

Orest-
I know it's a lot to ask, but if you could build into the EA the ability to look at all three filters and have options that will only take trades if 1, 2, or 3 are in the right direction. That would be awesome.

I meant to show a couple of examples of the SSMultiFilter indi last night and forgot. The first example shows 3 colored lines moving through time going above and below the zero line. These horizontal lines indicate the various trends; red = MaxMacd, blue = stoch and green = zzi. When the line is above zero, trend = long. When the line is below zero, trend = short.

The second example shows how I use the multfilter indi to test the data. I've turned off the horizontal lines for maxmacd and zzi so on the blue stoch line is on the chart. I've turned on the vertical lines for the stoch value. When the horizontal line changes from above/below zero, note that the trend changes is reflected in changes in the vertical lines. Since the vertical lines cross the price data, the stoch indicator and the multifilter window, it is easy to check the accuracy of the trend data.

For normal trading, turn off the vertical lines. Just a quick glance at the screen shows you the trend as indicated by the maxmacd, stoch and zzi horizontal lines and helps you quickly consider any possible trades. If we decide this is useful perhaps we can get it into the ea once the indies have been through a good test period.

Gary