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The Force 5min system

  • #2,441
  • Mar 12, 2009 9:53am Mar 12, 2009 9:53am
looks like the pdf file of first post have some problems to open it
I can't download it completely
  • #2,442
  • Mar 12, 2009 10:44am Mar 12, 2009 10:44am
Quoting robdee
...

This version of UpdateStops EA is V20090312
Robdee,
Thank you very much, the expert works great, thank you for your job and sharing this with us.
  • #2,443
  • Mar 12, 2009 11:04am Mar 12, 2009 11:04am
Hi Rob,

After loading the update... looks like I still have a problem with the pip decimal.

 

  1. UpdateStops EURUSDm,M5 inputs: Notes1="Settings for 'Force5' by ForexJedi"; TakeProfit1=10; TakeProfit2=20; TakeProfit3=0; TakeProfit1Percent=50; TakeProfit2Percent=30; TakeProfit3Percent=0; HardStop=20; MoveStop=20; TrailingStop=0; UseFullLots=true; UseMiniLots=true; UseMicroLots=true; HardStopWarnings=true; BrokerEuroSymbol="EURUSDm"; MaxBrokerSlippage=2;
    10:57:48
  2. UpdateStops EURUSDm,M5: EURUSDm Digits=4 PipDigits=4 PipDecimal=0.0001 PipValue=$1.00

Sorry...
revrobwimb

Quoting robdee
Mini Account Traders,

This issue is now clear to me. I know why some systems are closing trades at +1 pips.

I assumed that 1.00 lots in MT4 always represented 100,000 currency units, or one standard lot. Today I have learned that this is not the case.

Some systems offer 'mini' accounts where 1.00 lots represents 10,000 currency units (not 100,000). To make this work they must change the currency symbol they use. IBFX uses EURUSDm, Forex.com uses EURUSDFXF. How many different symbols are out there for EURUSD? I have...
  • #2,444
  • Mar 12, 2009 2:57pm Mar 12, 2009 2:57pm
Robdee,
After London Close signal was given at 17:10 candle (red one) and after about 3-4 candles the next one after 17:10 candle colored in red also. If I reload the indicator or restart MT4, it will disapear. Not a problem for me, but maybe you should know about the bug.

And second question: can you specify the rules when bars are colored in red or blue with AudioAlert indicator, because I'm a little cofused here and don't get why 18:45 candle shouldn't be blue one (MACD - green, stoch - up), please can you specify the rules.

I use:
-MetaTrader 4 at FOREX.com 4.00 build 220 (FOREX.com)
-AudioAlerts.mq4 posted by you on Mar 2, 2009 20:15 version 20090302.


Thank you beforehand.
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  • #2,445
  • Mar 12, 2009 3:16pm Mar 12, 2009 3:16pm
Quoting pwrlexus
Robdee,
After London Close signal was given at 17:10 candle (red one) and after about 3-4 candles the next one after 17:10 candle colored in red also. If I reload the indicator or restart MT4, it will disapear. Not a problem for me, but maybe you should know about the bug.
I can confirm this bug. At one point there were even 3 candles (the above mentioned plus 17:05) colored (but only one alert popped up).

Still great work, robdee

Quoting pwrlexus
And second question: can you specify the rules when bars are colored in red or blue with AudioAlert indicator, because I'm a little cofused here and don't get why 18:45 candle shouldn't be blue one (MACD - green, stoch - up), please can you specify the rules.
I told you just now in the chat, but for the other traders, i quote Jedi (Post 1):
Sell: When the stochastic crosses down from the 80 line and is not oversold
Buy: When the stochastic crosses up from the 20 line and is not overbought

So for any signal (also robdees audioalert) the stoch has to be within the 20 and 80 region.
cheers
robBroker
  • #2,446
  • Mar 12, 2009 3:25pm Mar 12, 2009 3:25pm
The values below are all correct for EURUSD. You are good to go with your EURUSDm mini account. RD

Quoting revrobwimb
UpdateStops EURUSDm,M5: EURUSDm Digits=4 PipDigits=4 PipDecimal=0.0001 PipValue=$1.00
  • #2,447
  • Edited 3:47pm Mar 12, 2009 3:36pm | Edited 3:47pm
I agree 18:45 gmt is a great looking candle.

AudioAlerts follows Jedi's stated rules as closely as is 'inhumanly' possible.

18:45 does not qualify because stochastics on candle close are above 80. This is overbought and is specifically excluded in Jedi's posted rules.

The other side of this is the requirement to reset stochastics (both lines) into OS/OB region before a basic signal can be triggered. This restriction does not apply to advanced signals.

More information about rules used in AudioAlerts is in the original post 1866
http://www.forexfactory.com/showpost...postcount=1866

Enjoy! RD

Quoting pwrlexus
...I'm a little cofused here and don't get why 18:45 candle shouldn't be blue one (MACD - green, stoch - up), please can you specify the rules.
PS RobBroker also answered this correctly - thanks RobB
Quoting robBroker
I quote Jedi (Post 1):
Sell: When the stochastic crosses down from the 80 line and is not oversold
Buy: When the stochastic crosses up from the 20 line and is not overbought

So for any signal (also robdees audioalert) the stoch has to be within the 20 and 80 region.
  • #2,448
  • Mar 12, 2009 3:51pm Mar 12, 2009 3:51pm
Quoting robdee
I agree 18:45 gmt is a great looking candle.

AudioAlerts follows Jedi's stated rules as closely as is 'inhumanly' possible.

18:45 does not qualify because stochastics on candle close are above 80. This is overbought and is specifically excluded in Jedi's posted rules.

The other side of this is the requirement to reset stochastics (both lines) into OS/OB region before a basic signal can be triggered. This restriction does not apply to advanced signals.

More information about rules used in AudioAlerts is in the original post...
Understood.

Thank you robdee, RobB
  • #2,449
  • Mar 12, 2009 3:57pm Mar 12, 2009 3:57pm
Thanks for your message. It is good to see you have an eye for detail and have worked out how to deal with it.

I have also seen this incorrect candle painting just a couple of times. It has something to do with MT4's internal buffer refresh and it occurs so infrequently that I have not yet been able to fix it. I have tried forced refreshes but that slows down MT4 too much, so it is a balancing act. I do not have an estimated time to fix this.

This has no impact on the alerts, this is only an issue with candle painting. You can set ShowChartArrows=True to see where the alerts are occuring. They occur immediately after the close of the signal candles.

Your approach is correct. Reloading the indicator forces MT4 to refresh it's entire indicator buffer. Reloading AudioAlerts can be done in various ways.

  1. reapplying the template
  2. opening AudioAlerts properties window and close
  3. switch to another profile and back
  4. switch to another timeframe and back
  5. remove AudioAlerts from the chart and attach it again
  6. restart MT4

Quoting pwrlexus
After London Close signal was given at 17:10 candle (red one) and after about 3-4 candles the next one after 17:10 candle colored in red also. If I reload the indicator or restart MT4, it will disapear. Not a problem for me, but maybe you should know about the bug.
  • #2,450
  • Mar 12, 2009 8:26pm Mar 12, 2009 8:26pm
Quoting G-Man
As most experienced traders know it is not always about the trades you take that matters, but sometimes the trades you don't take. Given FXJedi's criteria and the alert you have coded shows more signals than you act on, if you could also demonstrate why you ignored some of the signals this would also be highly informative.
G-Man, thanks for your intelligent perspective. You are completely right about this and I had simply overlooked the educational value that you mention. My first reaction is I'll need two charts, one for the details of trades taken, another one for details of trades not taken. I will give it a go.
Regards, RD
  • #2,451
  • Mar 12, 2009 8:39pm Mar 12, 2009 8:39pm
Probably shouldn't have entered here given the timeframe . got me in almost to the pip. we'll see...
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  • #2,452
  • Edited 10:38pm Mar 12, 2009 9:40pm | Edited 10:38pm
Another big day trading Force5. Doubles on Fibos ruled the day.

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G-Man having a very hard time trying to think in terms of 'trades not to take'.

The one loser (-15) was when I didn't wait for a double to form. Another almost loser was for the same reason. RD
  • #2,453
  • Mar 12, 2009 11:16pm Mar 12, 2009 11:16pm
Quoting robdee
Another big day trading Force5. Doubles on Fibos ruled the day.

Attachment

G-Man having a very hard time trying to think in terms of 'trades not to take'.

The one loser (-15) was when I didn't wait for a double to form. Another almost loser was for the same reason. RD
Robdee,

First of all, I appreciate all your and FJ's efforts. We're learning ...

Actually, G-man's question was an excellent one (regarding trades not to take) ... because some make pips, and then lose them on bad trades.

I've marked your most recent chart and am interested in knowing what your thoughts were as you passed trading on a couple signal candles but then chose the following signal candles. In both instances where you skipped the first signal candle, there would have been significant drawdown.

Thanks ahead of time,
Fx_Discipulo


Quoting G-Man
Hi robdee,

I have to say that your trading charts and analysis showing your trades are very close to being some of the best short term analysis I have seen on any trading forum, and an excellent education to new traders.

Although your contribution to this thread is already immense I have a small suggestion about your trading comments that may be of additional use.

As most experienced traders know it is not always about the trades you take that matters, but sometimes the trades you don't take. Given FXJedi's criteria and the alert you have...
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  • #2,454
  • Edited 2:17am Mar 13, 2009 2:07am | Edited 2:17am
Quoting FX_Discipulo
...G-man's question was an excellent one (regarding trades not to take) ... because some make pips, and then lose them on bad trades.
Yes I agree, it is so easy to destroy earnings with a few losses. Hence the great value in G-man's question. You know I am very selective about the trades I take, but then sometimes I get carried away and jump in before I have seen s/r fully confirmed.

Quote
I've marked your most recent chart and am interested in knowing what your thoughts were as you passed trading on a couple signal candles but then chose the following signal candles. In both instances where you skipped the first signal candle, there would have been significant drawdown.

Your chart comments are a big help, you see signal candles from a different perspective which helps me focus on what was happening at a specific time.

Attachment

First case 'Moscow Open'

You are correct, a H&S pattern had formed on the 127 fibo. That doji followed by a sell signal was quite good looking too. The problem with all the sells in that area is the existing LTL providing support close by. I needed to see the right-shoulder turn into something more solid than a doji before attempting a break of that LTL. When that double top (shoulder) formed I was willing to take a risk and as you know price went right through the TL (instead of bouncing).


Second case 'London Open'

This is more straight forward. I was expecting a bounce in this area. No TLs to mess it up. So always good to see the support confirmed with a double before entering. That is why I ignored the first buy signal, the double had not yet formed.

As you can see after banking +40 I was feeling confident and took the very next buy signal (before a double formed) and promptly lost 15 pips. So I know it is very easy to get it right then get it wrong soon after. RD
  • #2,455
  • Mar 13, 2009 5:22am Mar 13, 2009 5:22am
This is good direction guys, Since we have a well defined system allready, I think you are taking the right direction now in pointing out a few clues as to how to filter the signals, As Robdee is the PRO here, I suggest we use his charts as a standard, so Rob Im begging you kindly post your latest template, if you use an indicator to draw your pivot points, we would like to have them too, so that if you try to explain anything as to why you took or didnt take a signal, we all have to just look at our own charts on our various computers and understand easily, Thanks ALL
Add value everyday in Pips
  • #2,456
  • Mar 13, 2009 5:35am Mar 13, 2009 5:35am
Quoting robdee
Mini Account Traders,


To solve this I have added a new user setting to UpdateStops.
BrokerEuroSymbol=EURUSD

For example:
BrokerEuroSymbol=EURUSDm (IBFX live mini account)
BrokerEuroSymbol=EURUSDFXF (Forex.com-Demo account)



This version of UpdateStops EA is V20090312
Hi robdee,

Just wondering if we can use this EA to manage any other pairs besides E/U?

Thanks again for all your hard work and sharing.
  • #2,457
  • Mar 13, 2009 7:07am Mar 13, 2009 7:07am
Quoting fxtrader2k7
Just wondering if we can use this EA to manage any other pairs besides E/U?
Yes it is designed to handle all currency pairs. EURUSD is simply a reference symbol to figure out how many decimal places to use. RD
  • #2,458
  • Mar 13, 2009 2:08pm Mar 13, 2009 2:08pm
RobDee,

Thanks for responding to my most recent post regarding why you pass on certain trades ... or take them later, after the passing of a few bars.

I'm going to continue working. Your logic and reading of price action is invaluable. In your posts, please continue to highlight why you did not trade some signals. I'm sure that I and many others will find it very helpful.

One couple quick questions:
Note where I place a huge white arrow on your chart. Would this considered a double bottom?

Also, sometimes the markets are moving rapidly and will not retrace for a double top/bottom, what may signal you to jump in (or to stay out)? (a very general question I know)

And finally, I took a force trade yesterday around 1:55 (according to ibfx time) that I thought would bounce off the daily open of FXDD. Instead, I got stuck in that trade for nearly 3 hours and ended up losing pipsl I guess things were very quiet and there was no volume. How can I avoid wasting time like this? (I'm thinking you'll say trade during different hours, perhaps the London open which is 3am my time. But if that's the time to trade ... then that's the time to trade.)http://www.forexfactory.com/images/icons/icon9.gif

Fx_Discipulo
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  • #2,459
  • Mar 13, 2009 3:24pm Mar 13, 2009 3:24pm
Finally gave up 3am and went to bed feeling disappointed. However with a fresh look this morning I see that following the same old Force5 trading routine would have banked respectable pips, just not the easy megapips!

A bullish channel explains much of the price action we have been seeing on the lower side of the range. The 38 fibo bounce is a nice confirmation that the bulls are still in this game. RD

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ForexJedi your system Survives Extreme Conditions
  • #2,460
  • Mar 13, 2009 4:23pm Mar 13, 2009 4:23pm
Hi
Any One Can Give Me The Link Of The Ea Of This Strategy
Thanks
....
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