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0400-0700 GMT Breakout Strategy

  • #461
  • Aug 2, 2009 5:48pm Aug 2, 2009 5:48pm
Quoting wltam
Actucally do you run the EA without error?
as some have the error while running it but some and i have no error


And i modified the EA again
there are many parameter, maybe cause confuse
ok thanks for your hard work, I will try it...
  • #462
  • Aug 2, 2009 6:14pm Aug 2, 2009 6:14pm
Guys just wanted to share with you all what I will also be doing next using the fib lines.

Just one hour after asian open which is 00:00GMT or 8:00PM EST I will start looking for an entry. For long entry the ideal rule is to make sure the price is below from the lowest line and for shorts the price is above from the higher fib line.

1. on your 15min chart press Ctrl+Y and you will get the lines plotted on the 00:00GMT.
2. the price will close and open with new candle at 00:15GMT, the signal is to enter if or when the price comes below or higher on the higher lines of the fib lines and then enter.

Look at the pic. In this example the price closed the below of the 2nd line (Green), this is not the signal yet, the price then traveled below the lower line, the entry line would be exactly on that last line when the price hits the line.

This is something new for me, I have back tested it and studied how price moved between this timeframe between these fib lines, it is amazing that it is very similar. SL for now I will set the range between the low and high fibs, I will enter with 2 orders, TP1 would be at the 3rd lines and the final TP2 would be at the 4th lines, it is smart thing to do is that if you can extend the 2nd TP another 20-30 pips which the price will always travel that far most of the time. So when TP1 hits I will readjust my 2nd order right on the entry line.
Attached Image (click to enlarge)
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  • #463
  • Aug 2, 2009 6:24pm Aug 2, 2009 6:24pm
Way to go FED, way to go.

Thank you for sharing.

I am watching the chart with Interbank FX and FXDD and it looks strange today.

If any coder would explain me please how these FIB numbers are calculate, I would appreciate it.

buf24[shift]=dMin-(dMin-dMax)*0.236;
buf38[shift]=dMin-(dMin-dMax)*0.382;
buf62[shift]=dMin-(dMin-dMax)*0.618;
buf76[shift]=dMin-(dMin-dMax)*0.764;


Is it = Daily low (daily low - daily high) * 0.236 for example?



Thank you.



GE.

Quoting fed
Guys just wanted to share with you all what I will also be doing next using the fib lines.

Just one hour after asian open which is 00:00GMT or 8:00PM EST I will start looking for an entry. For long entry the ideal rule is to make sure the price is below from the lowest line and for shorts the price is above from the higher fib line.

1. on your 15min chart press Ctrl+Y and you will get the lines plotted on the 00:00GMT.
2. the price will close and open with new candle at 00:15GMT, the signal is to enter if or when the price comes below or higher...
Some pursue happiness, others create it.
  • #464
  • Aug 2, 2009 6:28pm Aug 2, 2009 6:28pm
Quoting genius75
Way to go FED, way to go.

Thank you for sharing.

I am watching the chart with Interbank FX and FXDD and it looks strange today.

GE.
you are welcome, but what is the strange part?

In half hour or so they will expand and then I will start looking for an entry.
  • #465
  • Aug 2, 2009 6:29pm Aug 2, 2009 6:29pm
Just forgot to mention on the above example, because it is the asian session, I will trade on jpy majors and e/u and g/u.
  • #466
  • Edited 6:51pm Aug 2, 2009 6:31pm | Edited 6:51pm
Well, the strange thing is that it should take high and lows of previous day (I think) and it should expand right after midnight and stays like that for whole day. I can see that when I run EA in Visual mode. Right after midnight in Visual mode FIB's will show up and stay like that. Without any expanding during the day.

GE.

Quoting fed
you are welcome, but what is the strange part?

In half hour or so they will expand and then I will start looking for an entry.
Some pursue happiness, others create it.
  • #467
  • Aug 2, 2009 6:49pm Aug 2, 2009 6:49pm
Never mind ..

How do we calculate these number for next day?

This is from the code ..


void start() {
double dMax, dMin;
int loopbegin, nsb, prevDay, shift;

if (NumberOfBars==0) loopbegin = Bars - 1;
else loopbegin = NumberOfBars - 1;

for (shift=loopbegin; shift>=0; shift--) {
if (prevDay!=TimeDay(Time[shift])) {
nsb=iBarShift(NULL, PERIOD_D1, Time[shift]);
dMax=iHigh(NULL, PERIOD_D1, nsb);
dMin=iLow (NULL, PERIOD_D1, nsb);
}
buf24[shift]=dMin-(dMin-dMax)*0.236;
buf38[shift]=dMin-(dMin-dMax)*0.382;
buf62[shift]=dMin-(dMin-dMax)*0.618;
buf76[shift]=dMin-(dMin-dMax)*0.764;
prevDay=TimeDay(Time[shift]);


GE.


Quoting tasciy
what are you talking about? could you explain fib line part again?
Some pursue happiness, others create it.
  • #468
  • Aug 2, 2009 6:54pm Aug 2, 2009 6:54pm
do you really think this will work?
  • #469
  • Aug 2, 2009 6:55pm Aug 2, 2009 6:55pm
Why not?


Quoting tasciy
do you really think this will work?
Some pursue happiness, others create it.
  • #470
  • Aug 2, 2009 7:14pm Aug 2, 2009 7:14pm
and Fed what do you think about this? are you also think that this will work?
  • #471
  • Aug 2, 2009 7:27pm Aug 2, 2009 7:27pm
fib lines didn't expand yet, I wonder how this thing works.
  • #472
  • Aug 2, 2009 7:27pm Aug 2, 2009 7:27pm
Quoting tasciy
and Fed what do you think about this? are you also think that this will work?
hi tasciy, what will work?
  • #473
  • Aug 2, 2009 8:29pm Aug 2, 2009 8:29pm
From my observation, the line is calculated using the high - low of the same day.

Quoting genius75
Never mind ..

How do we calculate these number for next day?

This is from the code ..


void start() {...
  • #474
  • Aug 2, 2009 8:34pm Aug 2, 2009 8:34pm
Quoting fed
fib lines didn't expand yet, I wonder how this thing works.



It looks like the fib line doesn't repaint [don't expand] once it started drawing at 00:00 GMT according to my trading simulator

It looks too good to be true. If it's true that it doesn't repaint , my visual back test shows that you could win everyday just by taking long if price is at/below second line or short if price is at/above second line and both take profit is at the opposite second line. Take only 1 trade per day at 00:00 GMT when it start drawing the very first dot.
  • #475
  • Aug 2, 2009 8:39pm Aug 2, 2009 8:39pm
Quoting wltam
From my observation, the line is calculated using the high - low of the same day.
I don't think so unless my trading simulator is damage. Once it start drawing the first dot on 00:00 GMT , it wouldn't change. I hope I am wrong becoz it looks too good to be true and if I am right, this is the holy grail. My chance of being right is about 5%.
  • #476
  • Aug 2, 2009 8:46pm Aug 2, 2009 8:46pm
if it is the holy grail then this strategy is not true then , but again if the holy grail does exists then it is like winning the million dollars lottery.
  • #477
  • Aug 2, 2009 8:49pm Aug 2, 2009 8:49pm
genius75 where did you get this indicator from? may be we should ask this question there.
  • #478
  • Aug 2, 2009 8:50pm Aug 2, 2009 8:50pm
Quoting forexisfx
It looks like the fib line doesn't repaint [don't expand] once it started drawing at 00:00 GMT according to my trading simulator

It looks too good to be true. If it's true that it doesn't repaint , my visual back test shows that you could win everyday just by taking long if price is at/below second line or short if price is at/above second line and both take profit is at the opposite second line. Take only 1 trade per day at 00:00 GMT when it start drawing the very first dot.
if it hit the day high/low, it will expand.
  • #479
  • Aug 2, 2009 8:51pm Aug 2, 2009 8:51pm
Quoting fed
if it is the holy grail then this strategy is not true then , but again if the holy grail does exists then it is like winning the million dollars lottery.
a very simple question would answer whether it's holy grail.

Does "i-IntradayFibonacci" repaint/expand after the first dot is drawn on 00:00 GMT ?

Yes, it redraw = Not Holy grail

No, it remain the same all day = Holy grail
  • #480
  • Aug 2, 2009 8:53pm Aug 2, 2009 8:53pm
Quoting wltam
if it hit the day high/low, it will expand.
my trading simulator shows it does not move. Ok try this right now.

Take down the price which the 4 line is been drawn right now. Check tomorrow whether the price is still the same.

Continue to do this if it's the same for a couple of days. If it's all the same, you have to plan to buy a house/car/etc soon.

btw, my chance of being wrong is 95%
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