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4H Box Breakout

  • #161
  • May 17, 2009 9:44pm May 17, 2009 9:44pm
I have posted in the programming section....a request for an indicator to compliment this system. Essentially what I would like to use it for is to provide a visual for backtesting to identify stop requirements for various pairs.

http://www.forexfactory.com/showthre...18#post2737618

I have no traction for this post.

Then I'd like to request a programming change in the EA to allow for the range of the box time X to specify the target and how positions get scaled out. For example, at one times the range you might move stop to BE and take out 50% of position....with some other logic for the exits.

Are there any programmers here that could do the programming for an indicator?

Cheers
CanuckCT
  • #162
  • May 17, 2009 9:49pm May 17, 2009 9:49pm
Great system Ace ... love the long term pip potential ... just one Question please or for someone else on the thread to answer .... Do we use the 4-hour bar that closes at 00:00 gmt , or the 4-hour bar that opens at 00:00 then closes at 04:00 gmt.... hope you understand my question .... thanks in advance ... buffalopip...
  • #163
  • May 17, 2009 10:06pm May 17, 2009 10:06pm
Hi all....

From what I have seen on the thread.....its the bar that closes on 0.00 GMT.
  • #164
  • May 17, 2009 10:09pm May 17, 2009 10:09pm
Here is an indicator I modified from a WeeklyPivot.

It is for my own visual backtest and therefor does not come with any bells and whistles. Maybe someone else can add the bells and whisltes if they require.

Please note that the indicator works only on H4.
Regards,

Matsu
Attached File(s)
File Type: mq4 MondayH4Box.mq4   3 KB | 2,523 downloads
  • #165
  • May 17, 2009 10:13pm May 17, 2009 10:13pm
angler....
there is a difference of 3 pips on our short and sl....but that is not unusual....i use fxdd....
but still can't get it to accept my limit buy...
nice to know our high and low are close...thanks
  • #166
  • May 17, 2009 10:19pm May 17, 2009 10:19pm
Quoting Angler
Hi all....

From what I have seen on the thread.....its the bar that closes on 0.00 GMT.
Thanks Angler ,, now that that is cleared up for me ... here is one more Question for the forum ... Ronald Raygun wrote a E.A. with a DayStart =0 and BarsFromWeekStart =1 , i can't seem to get it to close at the proper time to get the high and low of the four hour bar closing at 00:00 gmt ... should i just do this manually in the future ...? have tried 0,1 and 00 amd 1,0 and 1,1 and still can't seem to get it to close at the proper time to get high and low , any ideas ...? thank's again for your time ...
  • #167
  • May 17, 2009 10:25pm May 17, 2009 10:25pm
Hi all...


here is the chart as I see it ...1hr timeframe
Attached Image
  • #168
  • May 17, 2009 10:29pm May 17, 2009 10:29pm
Have you guys added the spread ?
  • #169
  • May 17, 2009 10:30pm May 17, 2009 10:30pm
Thank You for Your time Angler ... i see it on the one hour chart that i have ... many things have been cleared up for me .... again , Thank YOU........ buffalopip.....
  • #170
  • May 17, 2009 10:33pm May 17, 2009 10:33pm
Hi all...

Ok everytime I read this it get confusing......looking at 1 hour bars to make it easy.....the close of the 4hr Bar is also the close of the 0.00GMT 1hr bar
  • #171
  • May 17, 2009 11:20pm May 17, 2009 11:20pm
Quoting buffalopip
Thanks Angler ,, now that that is cleared up for me ... here is one more Question for the forum ... Ronald Raygun wrote a E.A. with a DayStart =0 and BarsFromWeekStart =1 , i can't seem to get it to close at the proper time to get the high and low of the four hour bar closing at 00:00 gmt ... should i just do this manually in the future ...? have tried 0,1 and 00 amd 1,0 and 1,1 and still can't seem to get it to close at the proper time to get high and low , any ideas ...? thank's again for your time ...
The bar that closes at 00:00 GMT is ironically the last bar of the previous week, so you'd need 5 (for friday) and 6 (if you're on the 4 hour chart), 24 (if you're on the 1 hr chart), etc.

I believe the original system uses the first bar of the week, which is the bar that opens at 00:00 GMT, not closes.
  • #172
  • Edited May 18, 2009 12:00am May 17, 2009 11:43pm | Edited May 18, 2009 12:00am
Hi.. all...


Nothing would surprise me....I have to say with people posting methods based on Bar times....it should be the first thing cleared up....but never seems to be an all through the thread people continue to be confused...

I based my chart on the First chart posted in this thread...and lined the bars up....so...who knows..

I think where the first post shows...0.00 on the Bar on the chart,,,that is the chart time.....not GMT..
Attached Images
  • #173
  • May 18, 2009 12:31am May 18, 2009 12:31am
Hi all..


Well this is not looking like a good week for this method so far....

possible reason is that the low of the day so far was getting very close to the daily Trend line thats been in place since Feb..

but it has not triggered a SL yet....so
  • #174
  • May 18, 2009 3:09am May 18, 2009 3:09am
Quoting Ronald Raygun
Ezzy,

BreakoutBuffer is just the number of pips outside the range. Some people like to trade "high/low +/- x pips".

Ronald, thanks for your reply to my earlier question. I now have settings at 1,1,0, but for some reason it is taking the high and low of the second 4h candle from Monday, any suggestions as to high to fix it.

Cheers
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #175
  • May 18, 2009 3:55am May 18, 2009 3:55am
Hi all..


Not a good week for this method.....but nobody said it was perfect

Many more weeks to go...


I think today is the sort of day that would scare many traders....a loss on the first day of using it....they dont think of the longer term..

maybe today was risky going short....as I pointed out earlier...we were getting close to a daily rising trendline ....
  • #176
  • May 18, 2009 4:40am May 18, 2009 4:40am

hi wanted to know if there is an expert advisor that you can use every day in the first candle, and found that only a consultant for the weekly Monday. thanks

  • #177
  • May 18, 2009 4:46am May 18, 2009 4:46am
[quote=Angler;2740118]Hi all..


Not a good week for this method.....but nobody said it was perfect


Hi Guys,

As i reminded you guys to add spreads with 10 pips below/above the low/high of the 4H canlde, then you should have BuyStop 144.520 and SellStop 142.810....If this the case you will not have the sell order triggered, but the buy order woul have triggered and you would be in Target 1 reached at 145.830.

Anto
  • #178
  • May 18, 2009 5:01am May 18, 2009 5:01am
Quoting pichi

hi wanted to know if there is an expert advisor that you can use every day in the first candle, and found that only a consultant for the weekly Monday. thanks


I need the EA because I live in Spain and when you close the first candle of the day here are the 4 am, forgive my English but I am writing to the translator of google

I think that this technique can be used every day in the first candle with the same techniques .. thank you very much

  • #179
  • May 18, 2009 5:12am May 18, 2009 5:12am
HI all...


anto.....maybe you are right....I will read back and make sure I have the Pips Buffer at the right place...

But you are saying....add in the spread in the buffer....then when you actually enter the trade you get the spread width again...
  • #180
  • Edited 3:49pm May 18, 2009 5:26am | Edited 3:49pm
Quoting Angler
HI all...


anto.....maybe you are right....I will read back and make sure I have the Pips Buffer at the right place...

But you are saying....add in the spread in the buffer....then when you actually enter the trade you get the spread width again...
******

Hmm, this is the way I take the trades...The above values i have given are from my live account where I took the first target. As it was 3.20 AM here in UK, I placed the order and slept.

As this method goes up to 2X RR i think that would not be a problem.

Hope this help...

Regards,

anto
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