I did take this signal on the USDJPY however. First Position hit TP target and second is still rolling.
Attached Image (click to enlarge)
- #167
- Mar 19, 2009 8:19am Mar 19, 2009 8:19am
Musashi - the spread is reflected in the difference between the bid and the ask
PipPicker, I haven't looked at your code properly but we sacrifice only one pip in the code, but in reality, we sacrifice 3pips. The setup is based on the bid +/- 1pip; the order management is based on bid and ask
Code away, and we can use a visual test to see how its doing... From a quick skim through, the code is looking very well set out
PipPicker, I haven't looked at your code properly but we sacrifice only one pip in the code, but in reality, we sacrifice 3pips. The setup is based on the bid +/- 1pip; the order management is based on bid and ask
Code away, and we can use a visual test to see how its doing... From a quick skim through, the code is looking very well set out
- #169
- Edited 9:20am Mar 19, 2009 8:59am | Edited 9:20am
- | Joined Feb 2009 | Status: Trader | 1,626 Posts
- #170
- Mar 19, 2009 9:03am Mar 19, 2009 9:03am
- | Joined Feb 2009 | Status: Trader | 1,626 Posts
Hi
Anyone have the count down clock for the current bar and how much time left for the new bar to appear
Or you could just look at your taskbar clock
- #172
- Mar 19, 2009 9:20am Mar 19, 2009 9:20am
Musashi - the spread is reflected in the difference between the bid and the ask
PipPicker, I haven't looked at your code properly but we sacrifice only one pip in the code, but in reality, we sacrifice 3pips. The setup is based on the bid +/- 1pip; the order management is based on bid and ask
Code away, and we can use a visual test to see how its doing... From a quick skim through, the code is looking very well set out
Buy Stop price = Ask + 1 pip
Sell Stop price = Bid - 1 pip
I don't think it's correct as brokers usually have something called "Stop Level" for Stop orders which is minimum difference between bid/ask and Buy stop/Sell stop order price. This stop level is usually very close to spread (definitly more than 1 pip).
Musashi, in MetaTrader 4 all charts are based on Bid price. If you tick the checkbox saying 'Show Ask Price' in window properties, you will have another horizontal line that shows the Ask price. Spread, the cost of trading forex in other word, is being paid on the time trade taking place. That's why an instance order always starts in loss at size of spread. You can test it on a demo account. Put an instant order, you will see it will be filled with different price to what is displayed on the chart by default. Of course, you can see both bid and ask price on the order window.
So, considering that spread is reflected in ask and bid price, the minimum sacrifice would be "Stop Level".
By adding that 1 pip which can be sort of guarantee that the order won't be failed and entry price will be as following:
Buy Stop price = Ask + Stop Level + 1 pip
Sell Stop price = Bid - Stop Level - 1 pip
What do you think D_Trader and Musashi?
PS: based on what explained above, the current version is NOT calculating the prices correctly. But we have this 1 pip configurable as part of input parameters. This calculation issue will be fixed for next release based on what we conclude from the discussion.
- #175
- Mar 19, 2009 5:47pm Mar 19, 2009 5:47pm
Does the minimum "Stop Level" you mention equal the spread? Which is different for each pair. When I open a deal ticket and attempt to open a pending order there is a minimum distance from market condition which is the spread I presume.
Seems to make sense to make it as tight as possible above/below the signal bar.
For example, in Aplari UK for EURUSD, spread in 1.8 pips while Stop Level is 2 pips.
The point is that this minimum distance should be kept from different prices for different type of order.
For Buy Stop order: Distance should be kept from ASK price which is "BID + Spread" in fact, and
For Sell Stop order: Distance should be kept from Bid price.
So, as you see if assume Spread=2 pips and StopLevel=2 and last bar High price (on chart) is 1.3000:
Minimum Buy Stop price based on high price: 1.3000 + 2 + 2 = 1.3004
Minimum Sell Stop price based on high price again: 1.3000 - 2 = 1.2998
Also, the minimum distance (the same Stop Level again) should be kept for Take Profit and Stop Loss as well (according to Entry Price).
I'm going to take all the above mentioned into calculation, no drama
. Plus, I'm adding something which will be that 1 pip you originally mentioned on top of that. This value can be defined by user of course.
Another thing I realised is that prices are not smooth all the time, I mean it jumps more that 1 fraction most of the times. So, there is a chance to miss the order to get filled.
To fix this problem, each order has a Slippage value that specify the deviation of entry price. If I'm not mistaken that will be considered for Sell/Buy Stop orders as well.
I set that to 0.5 pip for now, but it can be changed at any time.
Cheers.
- #176
- Mar 20, 2009 3:42am Mar 20, 2009 3:42am
Okay just reading through it again... I've only coded a handful of EA's so basing my comments of that
Anyhow, over the next couple of hours I'll look through your code and discuss... will also manually demo test the strategy
Anyhow, over the next couple of hours I'll look through your code and discuss... will also manually demo test the strategy
- #180
- Edited 5:55am Mar 20, 2009 5:38am | Edited 5:55am
- | Joined Feb 2009 | Status: Trader | 1,626 Posts
