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4H Box Breakout

  • #541
  • Jun 21, 2009 8:07am Jun 21, 2009 8:07am
Thanks GEOFF,
In your back test where was your take profit? Can you be more specific as to what you mean by "poor results". Do you have more specific data from your test such as number of trades, max dd, etc? Thanks DAve
  • #542
  • Jun 21, 2009 8:22am Jun 21, 2009 8:22am
TP1 300, TP2 500, TP3 2000
At 0.1 Lots from Jan 4th to date 18529, 90 wins 28 losses drawdown 16%.

June to October last year with the same TPs profit -4000 !!
Losses accumulated from June onwards and did not start to improve until November.
These results generated on Control points only, I have not had chance to do better back-tests as yet.
I only finished coding the EA yesterday!
  • #543
  • Edited 9:29am Jun 21, 2009 9:05am | Edited 9:29am
Thanks for the EA, here are my results using a 4 decimal broker and all default settings except GMT and lotsize. I have no clue how accurate this is, but my suggestions would be to add a money management routine that risks x percent per trade and also a user-customizable pip buffer setting.

I think there might be a problem since most US brokers don't allow hedging, so we can't open both buy and sell orders at the same time. It also sometimes gives a OrderSeond error 130
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester.gif Size: 10 KB
Attached File(s)
File Type: pdf Four Hour Breakout.pdf   129 KB | 1,461 downloads
  • #544
  • Jun 21, 2009 9:11am Jun 21, 2009 9:11am
Sorry, my figures were in GBP not USD, my account is with Alpari in the UK.
I will run the EA on my VPS this week to see how it performs for real.

I agree, money management would be an improvement.
Are there any coders following this thread?

P.S. I tried the Trailing Stoploss but it stopped me out too early.
  • #545
  • Jun 21, 2009 9:25am Jun 21, 2009 9:25am
Quoting geoffb65
Attached EA is my crude attempt to automate this great system.
Back testing on 4H GBPJPY shows excellent results from January to date but very poor results from June to October last year.
The stoploss is derived from the high-low value of the trigger levels and needs to be large to prevent being closed-out too early.
There are 3 TPs,
TP1 is the lowest and is x3 Lots to capture as many pips as possible on a "small" move.
TP2 generates x2 Lots
TP3 is x1 Lots and is set high to allow it to run all week.
Unused buy and sell stops and all open orders...
Tq 4 sharing..will test it out..hehehe
  • #546
  • Jun 21, 2009 9:39am Jun 21, 2009 9:39am
Thanks lolpie...

I don't know what is wrong with the ordersend, it just goes wrong occasionally but that's the level of my coding expertise = 1 out of 10!

Hedging is a big problem, not just for this program but I don't see how to get round it. It needs someone with more knowledge than me to solve that one.
  • #547
  • Jun 21, 2009 10:23am Jun 21, 2009 10:23am
Quoting geoffb65
Thanks lolpie...

I don't know what is wrong with the ordersend, it just goes wrong occasionally but that's the level of my coding expertise = 1 out of 10!

Hedging is a big problem, not just for this program but I don't see how to get round it. It needs someone with more knowledge than me to solve that one.
I don't think we can solve the hedging problem since it's not really in our control...I think the best thing to do would be just have it draw 2 lines, x pips away from high and low, and when the price touches either line, put your order there. If the price hits your stop loss (high or low depending on whether you bought or sold) you close the position, and if it goes past the stop loss and touches the other line you make the 2nd order.

You can probably find help from the programming discussion part of this forum
  • #548
  • Jun 21, 2009 10:38am Jun 21, 2009 10:38am
Take a look into the entry logic of my EA. I already have a solution around the NFA restriction.
  • #549
  • Edited 12:37pm Jun 21, 2009 12:35pm | Edited 12:37pm
Hi all, not posted before but have been using this for a few weeks now.
This is my set up.

I am in the uk.
I use the 4h candle from 00:00 - 04:00, I get up at 4am and leave for work at 5.15am so this is perfect for me.

I place 6 trades, 3 Buy, 3 Sell.
My first trade is 30 pips from the box, then second at 60 from box, third 90 from the box. I have found this has given better results, losses are smaller on the quick pull backs.
I also stagger the SL in the same way.

First trade TP is x1
Second trade TP is x2
Third trade TP is x3

I also use a trailing stop, I calculate this by using TP/2, this gives the first trade a small TS, but the third trade a much bigger TS.

To be honest over the four weeks the TS has only been used to close a trade twice. But both would have been losses, so I feel its working.

Results:

Week 1: All six trades were live, One hit TS, rest lost. -695 pips.
Week 2: Three Sell trades live, All hit TP. +480 pips.
Week 3: Three Buy trades live, All hit TP. +804 pips.
Week 4: Thrre Buy Trades, One Sell trade live, Two hit SL, one hit TS, the other hit TP. +126 pips

Total for the four weeks +715 pips

The only thing I am looking to change is letting the last trade run for the week. As the price does seem to continue way past this last stop.

On the whole - A great system, easy to use, and fits perfectly around my job.

Ian.
  • #550
  • Jun 21, 2009 4:10pm Jun 21, 2009 4:10pm
Quoting VonBek
Hi all, not posted before but have been using this for a few weeks now.
This is my set up.

I am in the uk.
I use the 4h candle from 00:00 - 04:00, I get up at 4am and leave for work at 5.15am so this is perfect for me.

I place 6 trades, 3 Buy, 3 Sell.
My first trade is 30 pips from the box, then second at 60 from box, third 90 from the box. I have found this has given better results, losses are smaller on the quick pull backs.
I also stagger the SL in the same way.

First trade TP is x1
Second trade TP is x2
Third trade TP is x3

I also use...
Hi Ian,

can you please show your setting on a chart? Also when you write x1, x2 etc. do you mean box height times 1, 2 etc.? Please correct me if I am wrong, your 2nd and 3rd trades start away from the box and not at the breakout from the box. Am I getting it right?

Thanks.
  • #551
  • Edited 7:25pm Jun 21, 2009 4:33pm | Edited 7:25pm
VonBek and geoffb65 (regarding your EA) this post is meant for you guys but I think everyone should know..

Just a heads up guys. For whose using MetaTrader, MT5 comes out in the fall and MT4 brokers will all eventually switch to MT5. The new "upgrade" is basically a huge fuckup that ruins MANY peoples' trading systems. Here is a pic explaining what I'm talking about:

As you can see, if you add orders, it basically consolidates them into 1 order so you can only ever have 1 order per pair. No more hedging, no more seperate trades.
Attached Image (click to enlarge)
Click to Enlarge Name: metatrader 5_positions.png Size: 86 KB
  • #552
  • Jun 21, 2009 6:07pm Jun 21, 2009 6:07pm
Candle has formed for about 2 hours now. 2 more to go
  • #553
  • Jun 21, 2009 6:12pm Jun 21, 2009 6:12pm
because it is too late for me (will be 4 AM in my country when the candle is finished) i will try to use the Friday last candle. Do you think that will be much different from your system?
  • #554
  • Jun 21, 2009 7:35pm Jun 21, 2009 7:35pm
Ace,
A couple of hours ago you wrote that the 4h, 00:00 GMT Monday is forming.
Reading through most of these threads, I'm quite confused. Could you please clear this up once and for all for me.
Is the correct candle on which to base the box, the one that starts on Sunday at 20:00 GMT and ends at (midnight, ie: Sunday/Monday)) 00:00 GMT? Or is it the following candle that begins at (midnight, ie: Sunday/Monday) 00:00 GMT and ends at Monday 04:00 GMT.
Some have said the candle ending 00:00, others have said starting 00:00. It would take ages to find the comments, but I'm certain they're there.
I should send you a dollar the Save the Ace Fund to add to the others you should have charged for the answer to this question!!!
Thanks though in anticipation and for this whole thread. Much appreciated
  • #555
  • Jun 21, 2009 7:37pm Jun 21, 2009 7:37pm
Can your EA be found here? Can we try it?

Quoting Ronald Raygun
Take a look into the entry logic of my EA. I already have a solution around the NFA restriction.
Gary
  • #556
  • Jun 21, 2009 7:50pm Jun 21, 2009 7:50pm
You need to try out this button: http://www.forexfactory.com/images/misc/paperclip.gif (It's in the upper right corner).

As for my EA, you can find it here
  • #557
  • Jun 21, 2009 8:01pm Jun 21, 2009 8:01pm
Showtime
  • #558
  • Jun 21, 2009 8:06pm Jun 21, 2009 8:06pm
Ace,

Here are my settings on Oanda

Buy = 159.18
SL = 157.84
TP4 = 162.38

Sell = 157.83
SL = 159.17
TP4 = 154.55

These settings are within 1 or 2 pips on FXDD. Since I am placing trades on Oanda, I am using Oanda's numbers.

Good trading all!
  • #559
  • Jun 21, 2009 8:08pm Jun 21, 2009 8:08pm
have you been running this since May?
how is it doing?
What pairs seem the best and what time frame?

Thanks for the note about the paperclip... I never thought of that.

Gary

Quoting Ronald Raygun
Use this one.

I corrected a small snippet of code which now includes everything between both lines inclusive.
Gary
  • #560
  • Jun 21, 2009 8:10pm Jun 21, 2009 8:10pm
Quoting alpine4133
Can your EA be found here? Can we try it?
Alpine,

I see your name come up a lot, asking question after question that has already been answered. I've seen your name in a few other threads simply asking for the answers, or indicators. Like I said, a lot of these issues have been addressed already. Ronald's EA was posted near the beginning of the thread. I suggest that you invest some of your time and read previous posts.
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