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4H Box Breakout

  • #1,181
  • Jul 21, 2009 2:10pm Jul 21, 2009 2:10pm
I think I posted an earlier version of this but here is an Excel for setting up your trades.

Just key in the high and low of the first four hours and what you want your buffer to be. It does the rest.

Dave R.
Attached File(s)
File Type: xls 4H Box Calculation.xls   17 KB | 537 downloads
  • #1,182
  • Jul 21, 2009 2:14pm Jul 21, 2009 2:14pm
hi
you have said before after break even . that you have a pending long ? so why you are not mentioning it anymore . did u cancel it later ? because mine got triggered after the price break again the upper level of the box and it lost and now i am short .
thanks
Quoting droland
As discussed on Sunday, I was nervous about bucking the 1 month downtrend with the first LONG. I certainly got a bit excited since it broke one major resistance but not to happen. I have been stopped out at BE on the LONG and I am now in the SHORT originally set up on Sunday. It is waffling about the entry point right now. I hope it continues south or I may end up with my first weekly net loss.

Still early in the week though.

Dave R.
  • #1,183
  • Jul 21, 2009 2:20pm Jul 21, 2009 2:20pm
Nice SS Dave. Thanks that's helpful.

GJ looks like it could be setting up in a bearish continuation pattern. Let's hope that's what it's working on.
BTW, I'm still learning my candle patterns so I may be all wet. Just feels like it right now. We'll see.
  • #1,184
  • Jul 21, 2009 3:08pm Jul 21, 2009 3:08pm
If it breaks 154.30 were in trouble.
  • #1,185
  • Jul 21, 2009 3:24pm Jul 21, 2009 3:24pm
Quoting markfx
Nice SS Dave. Thanks that's helpful.

GJ looks like it could be setting up in a bearish continuation pattern. Let's hope that's what it's working on.
BTW, I'm still learning my candle patterns so I may be all wet. Just feels like it right now. We'll see.
I was reading some of the posts on the Auslanco GBPJPY board and they seem to expect the GJ to have a significant bearish drop in the not too distant future. It would really continue the long term pattern. The question seemsto be will GJ retrace to higher levels first and then drop?
  • #1,186
  • Jul 21, 2009 3:41pm Jul 21, 2009 3:41pm
I don't think its unexpected for it to retrace and retest after breaking the midterm strong upward trend, just depends if it does it at the 38 fibo or higher at the support that was broken last night. If it runs back up to resistence in the 155.20 area and then rockets down I will be taking a third entry (if we are stopped out).
  • #1,187
  • Jul 21, 2009 3:43pm Jul 21, 2009 3:43pm
Quoting samer960
hi
you have said before after break even . that you have a pending long ? so why you are not mentioning it anymore . did u cancel it later ? because mine got triggered after the price break again the upper level of the box and it lost and now i am short .
thanks

Hard to pick the right moves right now. I had a pending but decided I really didn't like what I saw and just canceled it. Waited for more strength to be shown.

You can still use Ace's basic method and just leave it but I am trying to avoid the 150 pip or so SL's. I am happy with BE.

I am in negative right now so we need to see how this plays out. I have the traditional SL in place to give it room to breath. I will only go BE once the movement is into profit 50 to 100 pips depending on circumstances.

None of what we are doing here is a gaurantee of anything. Just doing the best we can with a very good system.

Dave R.
  • #1,188
  • Jul 21, 2009 5:43pm Jul 21, 2009 5:43pm
hello everybody!

thats my fist post on this forum, so first of all I want say thanks to Ace and others who contribute to this thread. I've started live trading with this method one week ago, and it's obviously not the best time for this strategy. But I'am sure there will be better time for it .
I've been testing various aspects of this system for three weeks, and guess what I have found? The best setting are those provided by Ace in first post. However I've got inspired by Droland rules from post #902, and decided to test as well.
Thats my results (from beginning of this year):
1. Original Ace rules: 44813$ profit(playing with 1 lot) - original.jpg
2. Droland rules, SL=100, 100 points before going to BE, 25 point reentry buffer: 8946 $ profit - 100SL,25RB.jpg
3. Droland rules, SL=150, 100 points before going to BE, 25 point reentry buffer:27547$ profit - 150SL,50RB.jpg
As you can see setting SL don't give us higher pofit or smalles drawdown, however different setting gives different results. You have to be very careful with that.
I don't attach EA, I saw there are two other EA's in this thread, and i dont want to bring in confusion, but if anyone interested just let me know.
I wonder what's your suggestion Droland, maybe other settings? I like you idea, bu taking Ace results as a benchmark, it's far from being perfect. I'll do some other tests tommorow, if i find any significant i'll post them here.
oromek
Attached Image(s) (click to enlarge)
Click to Enlarge Name: original.jpg Size: 88 KB
Click to Enlarge Name: 100SL,25BB.jpg Size: 92 KB
Click to Enlarge Name: 150SL,50RB.jpg Size: 91 KB
  • #1,189
  • Edited 6:29pm Jul 21, 2009 5:55pm | Edited 6:29pm
Quoting oromek
hello everybody!

thats my fist post on this forum, so first of all I want say thanks to Ace and others who contribute to this thread. I've started live trading with this method one week ago, and it's obviously not the best time for this strategy. But I'am sure there will be better time for it .
I've been testing various aspects of this system for three weeks, and guess what I have found? The best setting are those provided by Ace in first post. However I've got inspired by Droland rules from post #902, and decided to test as well.
Thats my results...
What a great way of entering FF. Keep up the good work, oromek.
As always, programmers are always welcome.
  • #1,190
  • Jul 21, 2009 6:46pm Jul 21, 2009 6:46pm
Quoting oromek
hello everybody!

thats my fist post on this forum, so first of all I want say thanks to Ace and others who contribute to this thread. I've started live trading with this method one week ago, and it's obviously not the best time for this strategy. But I'am sure there will be better time for it .
I've been testing various aspects of this system for three weeks, and guess what I have found? The best setting are those provided by Ace in first post. However I've got inspired by Droland rules from post #902, and decided to test as well.
Thats my results...

Excellent work. My only comment is that your modelling quality is only 62%. If it's not running at 90% or very very close to it, you have incomplete data and usually testing at this level of quality is very inaccurate. I am excited however that you have an EA that is working.

Dave R.

ps. Does your EA move the 25 pip re-entry pending order down to your origianl SL exit minus 10 pips (as the price moves away from your original exit). If you go in and out say 10 times, each time lossing 25 pips that is 250 pips. Not good.

dr
  • #1,191
  • Jul 21, 2009 7:13pm Jul 21, 2009 7:13pm
Hey Ronald

First thanks for the EA. I'm downloading some old data and will run it overnight, lets see how that goes...

Anyway, I think I found 2 bugs in your EA. One, I set the Stop loss multiplier to 1 and it made a sell on GBPJPY, but the SL is 0. Shouldn't the SL be the high of the candle? Another thing, it says in the top left that Long Entry is the high of the candle. I think it's supposed to be the other side of the box. The Long Entry is the stop loss, it looks like they were switched lol. Finally, I set the TP to True and the TP Multiplier to 3, but that same trade had no TP along with no SL.

I'm attaching my chart for clarification. The trade I'm talking about is the newest one...the 7/21 trade was a manual trade

Thanks again
Attached Image (click to enlarge)
Click to Enlarge Name: thrfhf.gif Size: 71 KB
  • #1,192
  • Jul 21, 2009 7:18pm Jul 21, 2009 7:18pm
Hi Oromek, welcome to the thread. Can you do me a favor and run all three setups on 2006 and post results.
  • #1,193
  • Jul 21, 2009 7:21pm Jul 21, 2009 7:21pm
Quoting lolpie
Hey Ronald

First thanks for the EA. I'm downloading some old data and will run it overnight, lets see how that goes...

Anyway, I think I found 2 bugs in your EA. One, I set the Stop loss multiplier to 1 and it made a sell on GBPJPY, but the SL is 0. Shouldn't the SL be the high of the candle? Another thing, it says in the top left that Long Entry is the high of the candle. I think it's supposed to be the other side of the box. The Long Entry is the stop loss, it looks like they were switched lol. Finally, I set the TP to True and the TP Multiplier...
That long entry part of the comments was an artifact from debugging (yea, I know, sloppy coding).

As for the multiplier, I'll look into it. If the EA is returning 0 for the stoploss, that usually means stoploss isn't activated.
  • #1,194
  • Jul 21, 2009 7:26pm Jul 21, 2009 7:26pm
Quoting Ronald Raygun
That long entry part of the comments was an artifact from debugging (yea, I know, sloppy coding).

As for the multiplier, I'll look into it. If the EA is returning 0 for the stoploss, that usually means stoploss isn't activated.
I have:
UseStopLoss = True
UseFixedStopLoss = False
UseStopLossMultiplier = True
StopLossMultiplier = 1.0

Just a quick question...why use an int for the risk %? I only know a little about programming but wouldn't using a double or float make more sense, so people can enter decimal values?
  • #1,195
  • Jul 21, 2009 10:08pm Jul 21, 2009 10:08pm
Quoting lolpie
I have:
UseStopLoss = True
UseFixedStopLoss = False
UseStopLossMultiplier = True
StopLossMultiplier = 1.0

Just a quick question...why use an int for the risk %? I only know a little about programming but wouldn't using a double or float make more sense, so people can enter decimal values?
Tried

Tried that. Most people didn't want to work in decimals, so I just use the int
  • #1,196
  • Edited Jul 22, 2009 12:10am Jul 21, 2009 10:54pm | Edited Jul 22, 2009 12:10am
Hi All,

I was away last few days and seeing tons of comments and update from you guys, GREAT JOB!!

I don't trade with EA and because the entry setting time is just nice for me, I live in South East Asia. Btw, I will set a trail stop to move SL to break even once the price move 1X of the box size. And, I will set 2X as my profit. So, there will be 3 possiblities; earn 2X or loss 1X or breakeven.

Besides, I think this system is just gambling; head or tail. if each of the possibility above is 33.33%, you will still earning overall but it is provided you have good risk manage on your account.

Good Luck traders!!!
  • #1,197
  • Jul 22, 2009 12:44am Jul 22, 2009 12:44am
I have been following this post for a while, this is similar to what I used some time ago, but better.
Dave, I grabbed your excel calculator from page 79 and have found some errors. I have made some changes, I hope you don't mind, tell me what you think.
I have made 4 boxes that are for calculating currencies with 2 or 4 decimals. The currency, spread and buffer can be changed to suit and I have made the first PT a 1:1 RR for those who prefer (as I do).
The calculations take into account spreads/buffers for long and short so that when you plug in the high and low of the candle it does all the calcs for both long and short trades.
I have checked it for errors, if anyone finds any, let me know or if anyone has any questions, please go ahead.
This is a great system, thanks ace.

Regards,

Tony
Attached File(s)
File Type: xls 4H Box Calculation (2).xls   21 KB | 467 downloads
  • #1,198
  • Jul 22, 2009 12:59am Jul 22, 2009 12:59am
Sorry all, found an error, have attached new version. Hope this one is ok.
Attached File(s)
File Type: xls 4H Box Calculation (3).xls   21 KB | 624 downloads
  • #1,199
  • Jul 22, 2009 3:08am Jul 22, 2009 3:08am
I found some people interested in my EA, so i post it here. However i think it's better to focus on those two that are developed on this thread. I'm sure they will be more complex, mine is just to try some concepts.
I have a two EA's - one for Ace original rules, and other for Droland modifications. As first I send EA with Ace original rules, second after consulting Droland about some settings.
My main modification to the original concept is not to send pending orders, just watch pirice action, and when price is on the appriopriate level send buy or sell order.
Here is description of parameters:
UseAlert - true/false -show or not alerts
UseTakeProfit - if you set true, there will be 4 TP levels, first on 1x candle size level (close 0.3lot), second on 2x candle size level(close 0.3lot), third on 3x candle size level (close 0.2lot), fourth on 4x candle size level (close 0.2lot). When using TP do not change lot size from original 1 - it will only work with one lot size position. If you set here false, there won't be any TP levels, trades will remain open to the end of the week, of course if it won't get stopped.
BreakoutBuffer - buffer added to starting candle size
lots - order size, you canchange it only if UseTakeProfit is set to false
MaxLongs, MaxShorts - how many time in the week long and short positions could be open (originaly set to one)
high_price, low_price - usable only during forward testing, if you want to switch on EA some time after starting candle, then you can enter by hand high and low level of starting candle
FirstCandleEndHour - most important parameter - enter here at which hour ends your first 4H candle (in your broker time), if your first candle ends at 00:00 you set 0, if candle ends at 03:00 you set 03, and so. If anybody want to take high and low of second candle just enter here when the second candle ends.
FridayCloseHour - enter here at which hour on friday opened trades should be closed (in your broker time)

I suggest setting UseTakeProfit to false - you will have the best results you can get from this system.
Fell free to use it, if you find any errors please let me know
oromek
Attached File(s)
File Type: ex4 4H_breakout.ex4   9 KB | 643 downloads
File Type: mq4 4H_breakout.mq4   8 KB | 870 downloads
  • #1,200
  • Jul 22, 2009 5:17am Jul 22, 2009 5:17am
hi oromek
first thanks for your EA
I backtest it using FXDD and 20pip buffer , candle end 4 am as per ACE original method
1- the backtesting in 2009 : 5k became 26 k modeling 90% and 45 % draw down
2- backtesting in 2008 failed , it wiped the account in the first 3 month of 2008 for sure i backtest it with 5 k maybe it should be more the original balance since the lot is 1 . i will try later with higher balance
NB: . i tried with 10 k and still it wipe the account in MARS 2008 .
regards


Quoting oromek
I found some people interested in my EA, so i post it here. However i think it's better to focus on those two that are developed on this thread. I'm sure they will be more complex, mine is just to try some concepts.
I have a two EA's - one for Ace original rules, and other for Droland modifications. As first I send EA with Ace original rules, second after consulting Droland about some settings.
My main modification to the original concept is not to send pending orders, just watch pirice action, and when price is on the appriopriate level send buy...
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