4H Box Breakout

Ronald,

You are correct there was no lines or trades on both my demo and my live account. Why would it not setup for a trade?

RickyD

The easy answer is that it cannot find the range. I'm not entirely sure why.

The way the range-finding code works is pretty simple in itself.

1) Check the day of the current bar, and of the previous bar.
2) If the current bar's day is different from the previous bar's day and the current bar's day is the same as the start bar's day, the EA knows it found the starting bar of the week.

If you used a StartDay of 0 (sunday), then the EA looks for a bar whose day is Sunday, and the previous bar where the day is Friday.

I suggest running a visual backtest, tell me (either via PM, or though my support website below) if the problem persists.

Ronald,

Thanks, I sent a copy and explanation to your website. I am not a programmer so finding a problem can be a real challenge. Your help on this has been great.

RickyD

When it goes past 156.37, it just might blow the roof off. Resistance it keeps bouncing off of. Lets hold on for the long haul.

The 155.35-.40 is really the 155.00-155.40 zone. If you look to the left of the current price action, you will see that price hesitated at this area. Again, these are zones as opposed to exact levels. Look at what price did when it retraced today, it went straight to 155.00-155.40 zone. Again, this is what I wanted because now this zone should act as support. I am not saying price might not move down below it. The market doesn't whatever it wants, but we just have to pick the best setups with probability in our favor.

The reason why I entered above this level was b/c price could have just triggered us and retraced back to hit our stop. So I thought this was a better entry price for me. I use S/R for all my trades with focus on big round numbers. Also, I think someone showed that that level was a 61.8% Fib that also only helps if price breaks above that.

I hope that explains my thinking. My main trading strategy is S/R with Price Action (PA). I like to play this in the direction of the major trend as seen on the Daily and/or wkly charts. For instance last week, G/J price opened lower and triggered the short. However, since the major trend is up, I didn't enter any shorts, and waited for PA for longs or my long Buy Stop to be triggered. However, I got very good PA as shown by the red arrow on my chart and entered my long over there. That area was visited the privious week and price was rejected. So I went long on the break of that bar marked with a red arrow. However, I was watching 155.00 as a potential trouble area, so when it price got to that level, I moved my stop to BE. As you can see, price stopped there, and then blew through. After that, the next trouble spot was 152.00 level. When price got to that level, I moved my SL to 10 pips below 150.00 (@ 149.90). Just hidding my SL behind potential support. When price broke 150.00, I moved my initial TP from 152.00 to 155.00. I took full profit at 155.00. Look at where price went after it was rejected at 155.00. Went back to the 152.00 zone that acted as a "rest stop" on the move up.

I only go against trend if there is strong PA at big round numbers. For instance, the week beginning 07/06/2009, I entered on the break of the candle marked with a tick. Took full profit at 150.00. So while everyone else took 600 pips on that move, I took 350. However, I also entered long on the break of the candle marked with an "x". My target was 152.00. Why you would ask, because that's where prices fell heavily before and therefore at that area, suppply(resistance) > demand (support). Price just got rejected again when it got to that level. So I took another 250 points. Again, I had to watch the 150.00 level b/c price could have been rejected after that. I moved to BE when price got to 150.00. Sorry for the long message, just wanted to explain how I use this strategy with my own trading style. I just started trading this live in July. Results are very good so far.

This is just an example of how I use this method together with my S/R (supply and demand) and PA.

Good day

Retracement...maybe full reversal. I love the GJ

Hi Ronald!

Can you tell me how to fix this problem ? The message appears when i start the backtest with your last EA version.
I mention that i use alpari with 5 decimal.

Thanks.

Necre

Get better data. Those are data-related problems (specifically, the volume across different timeframes doesn't add up).

Thanks for all the work Raygun.

How do you get better data with strategy tester as I am having the same issues?

Hey ronald, did you remove the green and yellow horizontal lines from graph with the new version of your EA? cuz they arent showing up for me.
Thanks

http://ratedata.gaincapital.com/

That's a good start.

and Gen,

No I didn't (at least...not on purpose). Are the lines showing up in the objects window? (Ctrl + B)

Ok, I had a chance to run a few backtests.

Here are the fixes:

 

1. EA wasn't calculating the correct number of closed trades during the week.
2. There were some instances where the range was 0 bars which means that there was a theoretical entry price of +/- infinity. This is why some of you didn't see the lines.
3. The Sell-Side take-profit was trying to take the smallest available takeprofit option. This has been corrected.

Sorry for the problems everyone!

Hi Ace and fellow breakout traders,,,,,I think its great you guys are trying different variations to Aces original trading rules,,,,But you are taking a very simple low maintenance trading system and turning it into,,,,lets stay up all night and see what happens,,,,,,,,its a 4hr system takes a few days for the trend to establish itself,,,if possible,,,I am all for taking 100+ pip profits and going to BE....But Aces strategy relies on substantial pip profits and sometimes an ugly stop loss,,,Or watching a nice profit turn into a loss,,only to turn around and bingo 300+ in your pocket,,,,Take a look at Aces extremely well thought out ,,,,,,,, Post#726,,,,,,It one hell of scenario!!!!!!,,,,,,thx

Ok, now they are showing up properly although, it seems like the buffer amount isnt working =( the yellow / green lines are on top of each other no matter what amount of buffer I put in the EA settings.

Make the buffer 100, and tell me if that changes anything. Most likely, the buffer is very small.

You know what, you are right, but why is 20pip buffer showing up so small on only a graph that is ... I think this week around 120pips? lol

Wait a sec, I am so confused...maybe this is why, my numbers are showing up as x.xxx with 3 spots after decimal...is the program thinking this is 1000 pips? I just looked at my indicator for the opening range and it says 904 pips! lol I am very confused...should be 90 pips.

You have pippettes. So to your broker, 1 pip = 1/10th a real pip.

Did this change recently? Ive been using demo account on metatrader. Shouldnt change should it?

Whenever 5 digit brokers came about.

Has anyone ever used fxcm? I am looking at opening a micro
account and I see that they allow it. I want to lower my risk
while I learn Ace's method

Right now I have a different broker but they do not have "micro"
accounts available.
Thanks!