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Generic Breakout V5

  • #101
  • May 19, 2009 7:48am May 19, 2009 7:48am
Quoting reb5035
Ronald -

Can you confirm that when the parameter "Eachtickmode" is set to false the EA will wait until the close of a bar to determine if a trade meets the requirement of a trade. It should be based on the close of the bar not the high of the bar - correct? I had an instance of a spike on the USDCAD this morning where the high triggered a trade but the bar never closed above the threshold. [IMG]file:///C:/DOCUME%7E1/bellr/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]
That's right.

when the parameter "Eachtickmode" is set to false the EA will wait until the close of a bar
  • #102
  • May 19, 2009 8:07am May 19, 2009 8:07am
I hope it's ok to post this here (if not, Ronald let me know!), those looking for a daily breakout ea with stop time can try this.

Last week I made a handful of changes to Ronald's EA, including the addition of FinishHour and FinishMinute, at which point the EA will close all trades and reset itself / go to sleep until the next start-end time range. It may be preferable to leave open positions going instead of closing them out but I have not added this option yet.

I also added the options UseTightSL and UseTightTP, so if you're using both a fixed and a percentage SL/TP, you can define whether to take the tightest or widest of the two.

Otherwise it should basically work the same, although has only seen a couple hours of testing.
I removed ResetTime (trade count is reset at finish time).
There is an option you can set to true if you're on a five digit broker, instead of having to multiply all your levels by 10.

Backtesting results are not the greatest (trying to emulate the "big dog" strategy), so I am looking for ways to improve the signals, perhaps adding an EMA and only trading with the trend? Open to suggestions.

There may be bugs, if you find any let me know.

Musashi, I'd suggest opening four separate charts and applying four EAs with different parameters to acheive the effect you're after.
I was considering adding percent of ATR levels, and may still do so. I think the rest of your requests are already in Ronald's EA. With the exception of checking for broker's minimum SL levels, which is a good idea... Although in practice would rarely be necessary.
Attached File(s)
File Type: mq4 Kore Daily Breakout v1.mq4   17 KB | 555 downloads
  • #103
  • May 19, 2009 8:31am May 19, 2009 8:31am
Kore -

Thank you for your work on this. This is the function I was looking for. http://www.forexfactory.com/images/editor/smilie.gif
You wouldn't happen to know how to set this EA so that it had various levels of profit taking would you. I know I can open three different versions of the EA each with a different pip target but it would be easier to have the controls all in one application.
  • #104
  • May 19, 2009 8:40am May 19, 2009 8:40am
Quoting reb5035
Kore -

Thank you for your work on this. This is the function I was looking for. http://www.forexfactory.com/images/editor/smilie.gif
You wouldn't happen to know how to set this EA so that it had various levels of profit taking would you. I know I can open three different versions of the EA each with a different pip target but it would be easier to have the controls all in one application.
The current version of both Generic Breakout and Kore Daily Breakout only take one trade at a time... so no. I was thinking of expanding to two or three, with the ability to set different position mgmt settings for each, but have not done so.. for now you have to open separate charts with different settings.
  • #105
  • May 19, 2009 7:23pm May 19, 2009 7:23pm
Quoting kore
I hope it's ok to post this here (if not, Ronald let me know!), those looking for a daily breakout ea with stop time can try this.

Last week I made a handful of changes to Ronald's EA, including the addition of FinishHour and FinishMinute, at which point the EA will close all trades and reset itself / go to sleep until the next start-end time range. It may be preferable to leave open positions going instead of closing them out but I have not added this option yet.

I also added the options UseTightSL and UseTightTP, so if you're using both a...
Hi Kore,

Thanks for the modified EA. I tried to backtest on 5 digits platform and its ok....so thanks for that.
However i see 2 issues here.
1. All buy trades has a 15pips breakout buffer while the sell has 5 pips as set.
2. The % risk is confusing. When set to MM true and risk is set at 12%, the actual dollar risk is only 2% at 50 pips SL.

Adding % value of ATR levels would be most welcome.

Thanks again. Appreciate your efforts.
Regards
  • #106
  • May 19, 2009 8:26pm May 19, 2009 8:26pm
Quoting kore
I hope it's ok to post this here (if not, Ronald let me know!), those looking for a daily breakout ea with stop time can try this.

Last week I made a handful of changes to Ronald's EA, including the addition of FinishHour and FinishMinute, at which point the EA will close all trades and reset itself / go to sleep until the next start-end time range. It may be preferable to leave open positions going instead of closing them out but I have not added this option yet.

I also added the options UseTightSL and UseTightTP, so if you're using both a...

As we all know the exit strategy is what makes a system profitable or not.

Can I suggest adding a feature where you can trail positions using the Bars High or Low depending if you are short or long.

This way the SL moves with the next bars High or Low. The bars High or Low represents the Resistance/Support Levels for that time frames. So using these levels as a way of exiting the postion might prove to be useful.
  • #107
  • May 20, 2009 1:12am May 20, 2009 1:12am
Hi,

I loaded the EA on two other platforms today with different settings, but when the first platform took trades the second and third did not. It said "uninit reason 5". What could be wrong? I only changed the percentage settings from 100 to 50 and 25.

Archie
  • #108
  • May 20, 2009 1:34am May 20, 2009 1:34am
Uninitialize reason codes returned by UninitializeReason() function. It can be any one of the following values:
0 finished its execution independently.
REASON_REMOVE1 Expert removed from chart.
REASON_RECOMPILE2 Expert recompiled.
REASON_CHARTCHANGE3 symbol or timeframe changed on the chart.
REASON_CHARTCLOSE4 Chart closed.
REASON_PARAMETERS5Inputs parameters was changed by user.
REASON_ACCOUNT6Other account activated.

as far as I know this code simply states that you changed the input variables, so no real error

ffixer
  • #109
  • May 20, 2009 12:13pm May 20, 2009 12:13pm
Quoting nicole99
Hi Kore,

Thanks for the modified EA. I tried to backtest on 5 digits platform and its ok....so thanks for that.
However i see 2 issues here.
1. All buy trades has a 15pips breakout buffer while the sell has 5 pips as set.
2. The % risk is confusing. When set to MM true and risk is set at 12%, the actual dollar risk is only 2% at 50 pips SL.

Adding % value of ATR levels would be most welcome.

Thanks again. Appreciate your efforts.
Regards
I'll take a look at the breakout buffer, and am working on %ATR levels.

Regarding MM, I think the EA sizes positions based on % of available equity. Ronald can correct me if I'm wrong (I haven't really tested it, but it looks like this is what the code does). Personally, I think this is the correct approach, and don't find it confusing.

The stop loss on an individual trade tells you nothing about the risk associated with trading a particular strategy. How often does the stop loss get hit? Once a year, or on every trade? What is the average drawdown? I think it is better to size positions using a % of equity based on the expectancy of your trading strategy.

This is just to say I doubt I'll be adding in SL-based MM, although someone else is free to do so if they think it is useful.
  • #110
  • May 20, 2009 12:15pm May 20, 2009 12:15pm
Quoting Musashi

Can I suggest adding a feature where you can trail positions using the Bars High or Low depending if you are short or long.

This way the SL moves with the next bars High or Low. The bars High or Low represents the Resistance/Support Levels for that time frames. So using these levels as a way of exiting the postion might prove to be useful.
I think this is a good idea, and will add it in as an alternate trailing stop method.
  • #111
  • May 20, 2009 1:46pm May 20, 2009 1:46pm
Just so we're clear.

The risk % is the percent of available equity.
  • #112
  • May 21, 2009 1:22am May 21, 2009 1:22am
Quoting kore
I think this is a good idea, and will add it in as an alternate trailing stop method.
You could also look at using only those bars that make a new high or low as the bar to move the SL to.

So inside bars dont count as a move of the SL. This way if there is a consolidation phase then the SL doesn't move until there is a new low or high.

If a pull back begins then we dont move the SL until a new low/high is made.
  • #113
  • May 21, 2009 11:23am May 21, 2009 11:23am
OK here is a new version with a bunch of new features. The main ones are the addition of % of ATR levels for Stop Loss, Take Profit, Trailing Stop and Max Range.

I also added Musashi's trailing stop, except instead of looking at just the last bar, you can look at the last X number of bars. So for example if you set PreviousBarsTS to 2, on a buy trade, it will move the stop to the lowest low of the previous two bars (once your trail stop profit level has been reached). If you set PreviousBarsIgnoreInsideBar to True, it will only move the stop when the current bar's high is higher than the previous two bars' high. The opposite holds true for sell trades.

I removed many boolean (true/false) parameters, instead, to disable a particular option, just set it to 0.

I fixed a bug with slippage on 5-digit brokers.

I renamed "Risk" to "PositionSize", to avoid confusion. This sizes your position based on % of available equity, and is ignored if set to 0.

I understand the point Nicole raised about buy trades, but am leaving it as-is for now. Explanation:
Ronald's version uses the Ask price on buy trades and the Bid price on sell trades to determine if the range has been breached, so on a buy trade the open price will be right at the breakout buffer.
My version uses the close (bid) price for both, so when a buy trade is opened (using the ask price) it appears a few pips above the breakout buffer. In my thinking this makes more sense, because the chart is drawn using bid prices only. So when the BID price breaches the range, it is time to open a trade (regardless of buying or selling).
If my thinking on this point is wrong, explain it to me, and I will be happy to modify the EA further, or add in an option to use the Ask price to determine breach of range on buy trades.

I have tried to test most features, but there may be bugs. Post them here if you find any.

Feel free to share your successful settings. I am having more luck testing around the London open, than NY open.
Attached File(s)
File Type: mq4 Kore Daily Breakout v2.mq4   20 KB | 1,019 downloads
  • #114
  • Edited 2:00am May 22, 2009 1:11am | Edited 2:00am
Quoting kore
OK here is a new version with a bunch of new features. The main ones are the addition of % of ATR levels for Stop Loss, Take Profit, Trailing Stop and Max Range.

I also added Musashi's trailing stop, except instead of looking at just the last bar, you can look at the last X number of bars. So for example if you set PreviousBarsTS to 2, on a buy trade, it will move the stop to the lowest low of the previous two bars (once your trail stop profit level has been reached). If you set PreviousBarsIgnoreInsideBar to True, it will only move the stop when...

Some very flexible options you have added. Well done. I agree on the point about the Bid and Ask Price.

Do you think you can explain each of the options in a little more detail for those like me that have no idea how to read code.
  • #115
  • May 22, 2009 3:35am May 22, 2009 3:35am
Quite a few modify order errors. Not too sure why
  • #116
  • Jun 29, 2009 5:51pm Jun 29, 2009 5:51pm
Quoting Musashi
Quite a few modify order errors. Not too sure why
Hi Musashi,
Did you manage to get those modify order errors sorted ?
What broker does it happen on ?

I have been using Ronalds v5.5 with some mods to show a window instead of vert & horiz lines. Thanks again Sir Ron - is awesome work.

I still suspect the first or last bar of the range do not always get their highs or lows taken into account, minor detail though.

cheers scalpz
Target 2 : Stoploss in the green
  • #117
  • Jun 29, 2009 6:39pm Jun 29, 2009 6:39pm
Quoting scalpz
Hi Musashi,
Did you manage to get those modify order errors sorted ?
What broker does it happen on ?

I have been using Ronalds v5.5 with some mods to show a window instead of vert & horiz lines. Thanks again Sir Ron - is awesome work.

I still suspect the first or last bar of the range do not always get their highs or lows taken into account, minor detail though.

cheers scalpz
Go Markets AUS 5 digit broker. http://www.gomarketsaus.com/go_trader

Must be sending 4 Digit orders to the broker hence getting the order send error.
  • #118
  • Jul 20, 2009 7:16pm Jul 20, 2009 7:16pm
Hi everyone,

I am really impressed with Ron and Kore's EA's. Is there any possibility to have a couple of Take Profits in percent of trade, and trail the remaining until the trailing stop is hit?

Best wishes
  • #119
  • Edited 11:53am Aug 15, 2009 11:29am | Edited 11:53am
Can't get either of these EA's to make trades in a backtest. I've downloaded and recalculated history data with no success. Any recommendations?
  • #120
  • Aug 15, 2009 1:22pm Aug 15, 2009 1:22pm
Quoting zoogle
Can't get either of these EA's to make trades in a backtest. I've downloaded and recalculated history data with no success. Any recommendations?
For my EA:

Lot size? Is it 0?
For the ranges, are you using "HH:MM" format? Also, if you want to use 5:18PM, you need to put in 17:18.

Any errors in the journal?
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