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Attachments: Mister ED's 4 hour Heikin Ashi system
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Mister ED's 4 hour Heikin Ashi system

  • #301
  • Jul 22, 2009 4:24pm Jul 22, 2009 4:24pm
There are no new trades being triggered at the 4h bar that just opened. (certain pairs can only be traded on certain days)

Can anyone else confirm that???
  • #302
  • Jul 22, 2009 4:26pm Jul 22, 2009 4:26pm
Quoting billbss
There was a solid sell signal on AUD/JPY on the FXDD 0800 Candle (0500 GMT). It came within about 10 pips of TP1 and turned and went the other way.

One problem I see is the scaled exit. When you get stopped out, you take the full hit- both positions.
The winning trades I've had take frequently less than that in profit.

I know this is a popular method, but I've never seen it work.

This is just my observation and Mr Ed can take it for what it's worth.
I agree with you although many write differently. I always take half profit at 2x the risk so at least if i have a few small wins and losers they cancel the other out until the big one comes. That was why i asked scissors if that ea could be altered.

Juicyt
"Even if you fall down face first, you still went forward."
  • #303
  • Jul 22, 2009 4:32pm Jul 22, 2009 4:32pm
Quoting Pipologist99
There are no new trades being triggered at the 4h bar that just opened. (certain pairs can only be traded on certain days)

Can anyone else confirm that???
AUD/JPY was a new long trade.
  • #304
  • Jul 22, 2009 7:20pm Jul 22, 2009 7:20pm
Quoting billbss
There was a solid sell signal on AUD/JPY on the FXDD 0800 Candle (0500 GMT). It came within about 10 pips of TP1 and turned and went the other way.

One problem I see is the scaled exit. When you get stopped out, you take the full hit- both positions.
The winning trades I've had take frequently less than that in profit.

I know this is a popular method, but I've never seen it work.

This is just my observation and Mr Ed can take it for what it's worth.
Hi Billbss

I agree with your observation. Any other ideas that are simple and could be incorporated would be useful.

I have thought of reducing the TP to 90% of the ATR - the reason being that if the ATR is the average potential distance the trade could go in the next candle then if we close slightly before the stop we should secure some pips and then get us into a free trade as soon as possible. However this rational would also lead you to increase the SL to 110% ATR so that it doesn't get hit. This then wrecks the RR ratios.

This is a longer term development that needs to be thought over.

Thanks for the comments.

Mister ED
  • #305
  • Jul 22, 2009 7:31pm Jul 22, 2009 7:31pm
Quoting demons19
I'm sure I'm thinking too much due to what I see as poor performance with this system but would it help if the system was filtered by the daily trend?
Its kinda painful to watch these trades go against me especially when I know the daily trend is against it.
Hi Demons

It is difficult when the system goes through a bad patch like the past few days. I regularly try to think up filters but they end up just fitting the latest trades and do not not appear to be robust enough to work in all markets.

Over analysing and imagining how trades will work usually gets me in trouble. I agree that it works with some people, just not with me. Hence my idea for a no thought system.

Remember over the year so far I have had winning days only 64% of the time. However on a winning day I average 409 pips versus a losing day losing 189. This means that I only need to have a winning day 31% of the time to start making a profit.

I think you need to give the system at least 2 months of analysis before trying to add in extra filters.

All the best
Mister ED
  • #306
  • Jul 22, 2009 7:41pm Jul 22, 2009 7:41pm
Quoting Mister ED
Hi Demons

It is difficult when the system goes through a bad patch like the past few days. I regularly try to think up filters but they end up just fitting the latest trades and do not not appear to be robust enough to work in all markets.

Over analysing and imagining how trades will work usually gets me in trouble. I agree that it works with some people, just not with me. Hence my idea for a no thought system.

Remember over the year so far I have had winning days only 64% of the time. However on a winning day I average 409 pips versus a losing...
I understand and I did look back and there are some wonderful countertrend moves that would be missed by filtering. I also want something SIMPLE otherwise I totally get in the way.
  • #307
  • Jul 22, 2009 8:17pm Jul 22, 2009 8:17pm
Quoting billbss
AUD/JPY was a new long trade.
The previous bar was less than 50% of ATR so according to system, no trade.

Did you take it??
  • #308
  • Jul 22, 2009 8:23pm Jul 22, 2009 8:23pm
Quoting Pipologist99
The previous bar was less than 50% of ATR so according to system, no trade.

Did you take it??
Yes.
On my FXDD platform the signal bar was 72 pips.
The ATR was 68 pips.
  • #309
  • Jul 22, 2009 8:24pm Jul 22, 2009 8:24pm
The attached EA is a first cut from tonight. I make the source code available so feel free to incorporate new features.

As it stands the EA evaluates the basic setup using HA smoothed and ATR indicators. If HA colour change takes place longer than over the last 3 bars then the trigger is skipped. The 50%-200% rule is followed for position opening, fixed TP & SL is submitted with the market order. No SL trailing is implemented though, neither the 200%+ retracement rule - to be done in the coming days

As this is only the first cut without any significant testing I would urge everyone to use this only for backtesting and bug testing first

The EA will trade that pair and time frame it is placed on, so by default it should be dropped on a 4H chart. Please ensure you have the Heiken_Ashi_Smoothed.mq4 in your expertsindicators folder.

Have fun!
Attached File(s)
File Type: mq4 MisterED.mq4   8 KB | 559 downloads
  • #310
  • Jul 22, 2009 8:25pm Jul 22, 2009 8:25pm
Quoting Pipologist99
The previous bar was less than 50% of ATR so according to system, no trade.

Did you take it??
I also just entered a short EUR/GBP.
  • #311
  • Jul 22, 2009 9:10pm Jul 22, 2009 9:10pm
Quoting OnTheMark
Hi Mister Ed,

Thank you for sharing your system with us. It looks like a very profitable system over time.

I created an indicator that visually displays your system (I believe) with dots for the entry/exits and lines for the TP and SL values including one line for the retracement level. I also added a way to select the days for each of the pairs.

So step 1: get the indicator right for the system and how it works visually. Step 2: write the EA.

If we get the indicator right it will go a long way to answer questions on how the system works...
Hi Mark

I like the idea of getting the indicator sorted first. It seems it may make doing the EA easier ( but I am not a programmer).

The trailing SL however seems to just follow the ATR. I like it to follow the top (long) or bottom (short) of the HA candles.

I also noticed that it only opens a trade at a time and appears to run it until it hits a TP or SL. On occasions the very next HA bar is completely the oppsite colour. In this case I bring the SL to the high of the bar and set up my new trade to open at the break of the signal bar. It's hard to explain so I will try to get some examples.

Otherwise on initial quick look it does look as if you are on the right track.

Off to bed now as this trading and working is tiring me out.The sooner this system lets me retire the better!!

Mister ED

Currently in AUDJPY and EURGBP. The yen appears to be falling across the board. Looks like I will miss the setups on GBPJPY and EURJPY
  • #312
  • Jul 22, 2009 9:56pm Jul 22, 2009 9:56pm
I really look forward to getting a good ea for this system.

Quoting LongBar
The attached EA is a first cut from tonight. I make the source code available so feel free to incorporate new features.

The EA will trade that pair and time frame it is placed on, so by default it should be dropped on a 4H chart. Please ensure you have the Heiken_Ashi_Smoothed.mq4 in your expertsindicators folder.

Have fun!
Gator - Trader Learning and Earning
  • #313
  • Jul 23, 2009 12:39am Jul 23, 2009 12:39am
Quoting billbss
Yes.
On my FXDD platform the signal bar was 72 pips.
The ATR was 68 pips.

Please see the attached chart. The bar in question is only 31 pips long while atr is close to 70 (7/23 00:00 candle) If I am mistaken please point it out. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy4h.gif Size: 15 KB
  • #314
  • Jul 23, 2009 12:53am Jul 23, 2009 12:53am
Quoting Pipologist99
Please see the attached chart. The bar in question is only 31 pips long while atr is close to 70 (7/23 00:00 candle) If I am mistaken please point it out. Thanks.
My charts also showed a 68 pip signal bar.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 28 KB
  • #315
  • Jul 23, 2009 1:36am Jul 23, 2009 1:36am
Quoting LongBar
The attached EA is a first cut from tonight. I make the source code available so feel free to incorporate new features.

As it stands the EA evaluates the basic setup using HA smoothed and ATR indicators. If HA colour change takes place longer than over the last 3 bars then the trigger is skipped. The 50%-200% rule is followed for position opening, fixed TP & SL is submitted with the market order. No SL trailing is implemented though, neither the 200%+ retracement rule - to be done in the coming days

As this is only the first cut without any...
appreciate your help Longbar
  • #316
  • Jul 23, 2009 4:06am Jul 23, 2009 4:06am
Quoting LongBar
The attached EA is a first cut from tonight. I make the source code available so feel free to incorporate new features.
LongBar

Welcome to FF and MrEd's trading system.
Great job indeed. Nice and clean code

If you don't mind I'd like to point a couple of things out.

I like the fact that you hardcoded the HA parameters. However, for backtesting and optimizing purposes it could be beneficial to have these as external definitions. same goes for the ATR period when calculating the signal or the % bracket for the ATR span.

to me it seems you're taking the ATR from the current candle. shouldn't this be the previous one (line 179)?

i really hope you don't take this as "well, i did such a hard work and now this guy shows up and just wants and wants and wants...". i could add this probably myself, but i don't want to see a gazillion of modifications and at the end nobody knows which is the version that works.

keep up the good work (i mean it!) and be prepared to be crushed by a exponentially growing list of requests and please, don't say i didn't warn you

AZBOfin
  • #317
  • Edited 4:49am Jul 23, 2009 4:20am | Edited 4:49am
Quoting Pipologist99
Please see the attached chart. The bar in question is only 31 pips long while atr is close to 70 (7/23 00:00 candle) If I am mistaken please point it out. Thanks.
I can't tell from looking at your chart how long it shows the bar to be.
It's the last white one, about 4 bars back.
It looks plenty big- mine was 72 pips.

The one to its right is 31 pips, on my chart. I'll bet that's what you're looking at.
That is one bar too late.
  • #318
  • Jul 23, 2009 5:22am Jul 23, 2009 5:22am
Quoting billbss
I can't tell from looking at your chart how long it shows the bar to be.
It's the last white one, about 4 bars back.
It looks plenty big- mine was 72 pips.

The one to its right is 31 pips, on my chart. I'll bet that's what you're looking at.
That is one bar too late.

Hi Billbss and Pipologist

I have attached what I saw on AUDJPY It looked a good trade to me so I am now trailing things.It looks like there were some others as well last night but I haven't had time to check yet. Hopefully things will continue in this trend and we can recoup those lost pips.

Remeber the signals vary with the chart setup.
Attached Image


All the best
Mister ED
  • #319
  • Jul 23, 2009 6:50am Jul 23, 2009 6:50am
Quoting Fx Optimist
Mister Ed thanks for this simple but effective method.

I wrote a small indicator that just displays the previous bar's range in pips, and also the ATR(20) value and its 50 % & 200 % values.

If the bar pip value is within the other two figures it's ok to enter a normal trade on HA color change, otherwise retrace.

Allows you to sum up the situation at a glance.

^ Chris ^
Hi Chris

Just tried the indicator, it works great. Certainly makes life easier at a glance.

Mister ED
  • #320
  • Jul 23, 2009 7:23am Jul 23, 2009 7:23am
Quoting AZBOfin
LongBar

Welcome to FF and MrEd's trading system.
Great job indeed. Nice and clean code

If you don't mind I'd like to point a couple of things out.

I like the fact that you hardcoded the HA parameters. However, for backtesting and optimizing purposes it could be beneficial to have these as external definitions. same goes for the ATR period when calculating the signal or the % bracket for the ATR span.

to me it seems you're taking the ATR from the current candle. shouldn't this be the previous one (line 179)?

i really hope you don't...
Thanks AZBOfin - I appreciate your constructive feedback!

I am going to make the HA and ATR period parameters external so one can play around for optimization if desired.

Good spot taking the ATR from the current bar - will have a look at it as well and fix it.

I take your warning: so from now on I will have to limit reading forum threads and answering emails to avoid too much request reaching me!!!

Well, I am happy to spend couple of hours here and there on these requests but unfortunately beyond that, as usual, it will call for the word of contribution...
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