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Relative Strength Basket Trading System

  • #3,241
  • Feb 4, 2009 8:54am Feb 4, 2009 8:54am
Quoting tommyd
Steve posted earlier that the EA runs on your Local computer time , not server time.
I do believe that is correct.
Thanks tommyd. That is correct.

I coded it this way so users do not have to worry about offsets for broker time. RaverStyleTim2, try setting your EA times to local time.

  • #3,242
  • Feb 4, 2009 9:11am Feb 4, 2009 9:11am
4rexlady,

I really don't know anything about Alpari or Active Trades (I use FXDD) but I think lots of folks are using Alpari. Give it another shot.

It is my understanding that the "Insufficient trades available" message typically is caused by your broker spread temporarily (or perhaps permanently) being so high as to exceed the maximum spread setting. If enough pairs have that problem then even though there is a trigger event there are not enough currency pairs (as defined by the MinTradesPerBasket setting) to proceed with the trade.

If you want to trade when the spreads are high (dangerous) then change the max spread setting to something higher and/or the min trades per basket to something lower. The default has always worked OK for me but if you are using something lower you might want to revert to the default. Also note that for a 5 decimal place broker you need to multiply the number by 10. See user manual instructions below.

From the user manual:


MaximumSpread=20:

matrixebis's indi highlighted some horrible spreads on

occasions. If the broker's spread exceeds this, the EA will not place the individual
trade. It will continue to place the remaining trades in the basket. If your broker

quotes 5 decimal places, then you need to multiply this number by 10.

•



MinTradesPerBasket: this setting tells the EA how many trades constitute a

'basket'. It checks the broker spread of each pair in the basket and aborts the send
if there are not enough pairs with acceptable spreads. This is not total protection
because:
•



The spread might have changed by the time the EA sends an individual

trade. The EA will not send the trade if the spread has become unacceptable.

• Mt4 platform problems might result in a trade not being sent.

My intent is only to help and hopefully not clog up the thread.

Good luck

Quoting 4rexLady_de
Hi guys,

today I wanted to use the KG RS System live on Alpari account and got the message " xxxBasket cancelt - insufficient trades available "...or similiar...don´t remember the exact words.

Then I said, ok...since it is trading nicely on Activtrades Demo Account, I go live on Activtrades....but there it won´t open trades at all, probably because I have a number off longterm trades running there...

So it doesn´t seem to be able to handle when other trades, also from other EA´s, are open ?!
And what can I do about the above mentioned problem?...

  • #3,243
  • Feb 4, 2009 9:44am Feb 4, 2009 9:44am
Steve

Your DC set file has a massive loss... what is going on?

Eddie
Attached Image (click to enlarge)
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  • #3,244
  • Feb 4, 2009 10:04am Feb 4, 2009 10:04am
Quoting eddiemiller
Steve

Your DC set file has a massive loss... what is going on?

Eddie
Mine has lost today as well, whereas sahar's setfile and the instant entry methods are quietly coining in the pips.

That's trading for you.

  • #3,245
  • Feb 4, 2009 10:04am Feb 4, 2009 10:04am
Quoting eddiemiller
Steve

Your DC set file has a massive loss... what is going on?

Eddie
Hi Eddie,

Pls try my set that I posted. FYI, I already collected 139 pips (as at now starting from Asian time trade) with this set and yesterday I only lost 39 pips. FYI, I still use V5 and not testing the latest version yet.

Cheers..

Sahars.
Attached Image (click to enlarge)
Click to Enlarge Name: kg relative strength.gif Size: 71 KB
  • #3,246
  • Feb 4, 2009 10:54am Feb 4, 2009 10:54am
Quoting sahars
Hi Eddie,

Pls try my set that I posted. FYI, I already collected 139 pips (as at now starting from Asian time trade) with this set and yesterday I only lost 39 pips. FYI, I still use V5 and not testing the latest version yet.

Cheers..

Sahars.
TY all loaded in....

Eddie
  • #3,247
  • Feb 4, 2009 10:57am Feb 4, 2009 10:57am
Quoting sahars
Hi Eddie,

Pls try my set that I posted. FYI, I already collected 139 pips (as at now starting from Asian time trade) with this set and yesterday I only lost 39 pips. FYI, I still use V5 and not testing the latest version yet.

Cheers..

Sahars.
Sahars - just looking at your lot size and the settings are 99% the same as Steves - big difference is the 0.03 lots size and a smaller jumping stop.

If markets move against you these settings will go into wipeout on the account........

I will run them and see but it would appear that all is happening here is we are magnifying the loss/gain.........

Eddie
  • #3,248
  • Feb 4, 2009 10:59am Feb 4, 2009 10:59am
Hello Mr Hopwood,

First thanks for the effort you put to developp this excellent EA, I was using something similar called forexgrail(commercial manual trade entry system based on the strenght of the pair but the strengh meter was independent from metatrader)http://www.forexfactory.com/images/icons/dollar.gif

could you please help me to solve the following problem:

1-In order to setup and test your EA, I have read all your files ,very well documented for both the multitrade manager and the relative Strengh EA v6......but I m still having problem for the system to trade automaticaly....same problem than " vienna'', I can see the pop up alert screen showing weak and strong Pairs but no trade to my account.

So I went to the metatrader expert advisor tab and see the following errors
_ KG...EAV6: error sent failed with error (131):invalid trade volume
_ an other one: KG....EAV6: error sent failed with error(4106) :unknown symbol,
_the last one is : KG....EAV6:unknown symbol name e.g.Euro/CHF for order send fonction.
I m using FXmeta from forex trading LLC http://www.forexfactory.com/images/icons/icon9.gif

Do you know, how I can solve this issue and keep my brooker FXmeta ?


2- also in the EA files packages there is one rar file called " closeAllscripts" what is the purpose of those files ?I have tried to find some information on previus post but did not find nothing relevant.

Thanking you for your time

Cheers....have a nice evening.

Loic http://www.forexfactory.com/images/icons/icon14.gif
  • #3,249
  • Feb 4, 2009 11:16am Feb 4, 2009 11:16am
Quoting eddiemiller
Sahars - just looking at your lot size and the settings are 99% the same as Steves - big difference is the 0.03 lots size and a smaller jumping stop.

If markets move against you these settings will go into wipeout on the account........

I will run them and see but it would appear that all is happening here is we are magnifying the loss/gain.........

Eddie
Hi Eddie,

You are right about the set. I use 0.03 lots because my equity start with $300 not like Steve that he started with $100. I use a propotion of $100 for 0.01 lots, and when my equity increase, I'll increase my lot as well.

The reason why I choose small jumping stop because I found that the ADX cross method that applied for DC method is always started a profit at least 30 pips before the retrace started against you (if the market move against you). In fact, in the ADX cross method normally recommend to put a jump stop at least 200 pips, but I still prefer safer mode rather than to gain more but at the end we are lose more. I always look for the system that working with lower DD and the trade will be cleared within a day trade. I know the gain is not big, but the lose side also will be minimal.

In other platform that use V5, I use take profit 50 pips and I found that the trade sometimes is hard to close that day..and sometimes lose like today and yesterday.

Hope this will make you clearer.

Cheers..
  • #3,250
  • Feb 4, 2009 11:34am Feb 4, 2009 11:34am
Hi..

Is there anybody testing this EA..?!. I've tested for 3 weeks and it's profitable with slightly higher DD. For 3 weeks my equity was increased by 17%. Matrixebiz, you have done a fantastic Ea...!!...

I need to compare the results.I attached here my result for the last 3 weeks.

Sahars.
Attached Image (click to enlarge)
Click to Enlarge Name: kg rs all v1.2.gif Size: 71 KB
Attached File(s)
File Type: zip DetailedStatement.zip   3 KB | 525 downloads
  • #3,251
  • Feb 4, 2009 11:36am Feb 4, 2009 11:36am
Quoting SteveHopwood
Thanks tommyd. That is correct.

I coded it this way so users do not have to worry about offsets for broker time. RaverStyleTim2, try setting your EA times to local time.


maybe i'm a little ate up but, i'm east coast and 8pm 13:00 IS new york open...using ibfx btw. am i just missing something or? lol.
  • #3,252
  • Feb 4, 2009 11:40am Feb 4, 2009 11:40am
Quoting SteveHopwood
Here is a new version for you to play with, inspired by mrpipster wanting immediate notification of a DC cross.

I noticed that triggers crossing rarely retraced quickly and re-crossed. It does happen, just not all that often, so we are tending to get in on trades late. V7 has a new input. From the user guide:...
Thanks Steve. I am testing it now. Will let you know how it is doing.

MP
  • #3,253
  • Feb 4, 2009 12:30pm Feb 4, 2009 12:30pm
Quoting RaverStyleTim2
maybe i'm a little ate up but, i'm east coast and 8pm 13:00 IS new york open...using ibfx btw. am i just missing something or? lol.
East coast time NY open is 08:00 which would be your computers local time, providing it is set correctly.
I think the correct ny times for you would be
start: 8
end: 16 (or maybe 17.)

I think you are confusing Server Time with you local time. NY open is as you say 1300 ibfx server time but that is not what is used.
  • #3,254
  • Feb 4, 2009 5:27pm Feb 4, 2009 5:27pm
Steve if you have a minute I have a quick question regarding the 2 bar filter. I have been testing the dc method (v6) on a couple of different time frames. Will the 2 bar filter for reopening a pair apply to the current TF or does it still wait 2 days?
It takes me 1.5 bars on the M1 chart to eat a pancake.
  • #3,255
  • Feb 4, 2009 5:31pm Feb 4, 2009 5:31pm
'xxxxxx basket cancelled - insufficient individual trades available'

This Alert message has been discussed here plenty of times. Anybody prepared to do the reading will have come across it and understand its cause. There are contributors here clearly not prepared to do this and continue to ask daft questions about it.

I have added a few lines to the user guide to cater for these contributors. The updated user guide will be issued with the next release of the EA. The updated Individual basket trade filters section now reads:

 

  1. Individual basket trade filters

  1. UseKgGroupFilter: set this to 'true' to use this filter. The EA examines the relative strength of the currencies in the basket on the next highest time frame, and allows the individual trade if the higher triggers are also heading in the right direction. For example, imagine a Strong JPY basket, ie sell xxxJPY:
  2. the EA examines, say, GBPJPY relative strength indices, and discovers that GBP is higher than JPY. To take out a sell GBPJPY would be a poor trading decision, so the EA will not take the trade.
  3. If sufficient individual trades are rejected by this, andor by the maximum spread filter, for the available trades to fall below your MinTradesPerBasket then you will see the 'xxxxxx basket cancelled - insufficient individual trades available' Alert.
  4. KgFilterMins: this should represent the next time frame up from the one you are trading. The default 240 minutes is correct if you are trading a 60 minute (1H) chart.
  5. BasketReverseNotCancel: this applies to the individual trades that make up a Range or Original basket. If set to true, this setting reverses the direction of the individual trade, if the decision returned by UseKgGroupFilter would otherwise result in it being cancelled. This leads to far fewer basket cancellations, but the long-term success of this strategy remains to be seen. Here is how it works. Imagine the EA wants to send a Strong JPY basket I,e, sell xxxJPY. Suppose it is examining the state of GBPUSD, and finds that:
  6. The GBP trigger index is lower than that of JPY. Here, the strength of GBP is in decline against JPY, so it allows the sell GBPJPY to go ahead.
  7. The GBP trigger is higher than that of JPY. Here, the strength of GBP is in ascent against JPY even though the JPY trigger is rising in strength generally. GBP must be rising strongly, so it cancels the sell GBPJPY and takes out a buy GBPJPY instead..

I hope this clears up any confusion.

Given the state of my prose, it probably merely adds to it.

  • #3,256
  • Feb 4, 2009 5:33pm Feb 4, 2009 5:33pm
Quoting JimmyPants
Steve if you have a minute I have a quick question regarding the 2 bar filter. I have been testing the dc method (v6) on a couple of different time frames. Will the 2 bar filter for reopening a pair apply to the current TF or does it still wait 2 days?
It refers to the current TF. 2 hours on a 1H tf. 8 hours on a 4H tf etc.

If you manage to make this strategy work on a lower tf, please let us know. Mostly, lower tf trading gets cut to glory by whipsaw, in my short experience.

  • #3,257
  • Feb 4, 2009 5:40pm Feb 4, 2009 5:40pm
Quoting SteveHopwood
It refers to the current TF. 2 hours on a 1H tf. 8 hours on a 4H tf etc.

If you manage to make this strategy work on a lower tf, please let us know. Mostly, lower tf trading gets cut to glory by whipsaw, in my short experience.

OK thank you muchly.

I'll let you know. It does work well on lower tf's in my limited testing but I find some pairs just never seem to work out. Not sure if it's just a condition of the current market atmosphere or not. I'll likely start having the ea ignore those and see if that improves things overall.

Thanks for the super quick reply.
It takes me 1.5 bars on the M1 chart to eat a pancake.
  • #3,258
  • Feb 4, 2009 6:46pm Feb 4, 2009 6:46pm
Steve,

Just now the V5 Ea opened 3 trades - EURGBP, GBPCHF and GBPJPY. How about you..?!. We will see what is the result going to be for these 3 orders.

Cheers

Sahars.
  • #3,259
  • Feb 4, 2009 6:56pm Feb 4, 2009 6:56pm
Quoting sahars
Steve,

Just now the V5 Ea opened 3 trades - EURGBP, GBPCHF and GBPJPY. How about you..?!. We will see what is the result going to be for these 3 orders.

Cheers

Sahars.
I have different trades opened, but this is normal. Different broker feeds, etc. Especially, trades closing at different times will leave the EA unable to open new trades in those pairs until the the No_Trade_For_X_Bars requirement is fulfilled.

  • #3,260
  • Feb 4, 2009 8:48pm Feb 4, 2009 8:48pm
Hey guys, I'm new to this thread and have tried downloading the files into the appropriate folders but the template is not working properly. I've read through a lot of the pages but I can't seem to find an answer. Any advice?
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