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4H Box Breakout

  • #1,621
  • Aug 8, 2009 2:01pm Aug 8, 2009 2:01pm
Quoting fx2248
Hi

I have attached a set of instructions to show how one can change the position of the entries above and below the box.

In your case fxann you don't have to do any weekly adjustments and edit and create a separate indicator for each currency pair.

Remember you need the new indicator and the 1 Box 4.mq4 on each chart.

This is a very basic way to achieve what you want to do until some smart programmer programs everything into one Custom Indicator.
Nicely done!
  • #1,622
  • Aug 9, 2009 2:46am Aug 9, 2009 2:46am
Quoting Ace284
I wasn't too surprised by that because NFP came out on Friday. Generally when NFP comes out there is lots of speculation and a strong move in one direction. It's supposed to affect mainly the USD pairs but that causes a domino effect on many other pairs.

I've actually always been curious when exactly a pair moves the most. Also the average range for each specific time during the day or week or month. I know for metatrader you can extract all that information and convert it into a spreadsheet but it probably takes a bit of work.
Great info, i will take note on NFP. Thanks Ace
  • #1,623
  • Aug 9, 2009 4:40am Aug 9, 2009 4:40am
Here are the results for the last 2 years for gbpusd with this (original) strategy. I hope it is better for GBPJPY (i will do the same for this pair soon) but with no buffer on GBPUSD the risk seems to be lower than reward anyway.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h box breakout.JPG Size: 38 KB
  • #1,624
  • Aug 9, 2009 7:43am Aug 9, 2009 7:43am
Quoting cinex
Here are the results for the last 2 years for gbpusd with this (original) strategy. I hope it is better for GBPJPY (i will do the same for this pair soon) but with no buffer on GBPUSD the risk seems to be lower than reward anyway.
Nice work, but it should be noted that GBP/USD was never suggested as a pair to use for this system, at least by the author of the thread. Your backtest seems to confirm the reason for that.

I'll be interested to see your results for GBP/JPY.
Greetings from Guanajuato, Mexico
  • #1,625
  • Aug 9, 2009 12:55pm Aug 9, 2009 12:55pm
I think i will post it by tuesday , it doesn't look good for 08-2007-02.2008 it's a big loss, bigger than on gbp/usd above , huge.
but i may have done this on a wrong assumption, it should be checked on H1 in some cases. So it must be done correctly.

yen looks mad , generally it is a mad , chaotic currency
  • #1,626
  • Aug 9, 2009 2:54pm Aug 9, 2009 2:54pm
I am trying to run Ron Raygun's EA, but in strategy tester, but I get some errors (see attachment). What does it mean?
Attached Image (click to enlarge)
Click to Enlarge Name: test1.png Size: 33 KB
Attached Image
  • #1,627
  • Aug 9, 2009 7:23pm Aug 9, 2009 7:23pm
Quoting Lene
I am trying to run Ron Raygun's EA, but in strategy tester, but I get some errors (see attachment). What does it mean?

I believe that it means your data is corrupt. Same thing happened to me.
  • #1,628
  • Aug 9, 2009 8:44pm Aug 9, 2009 8:44pm
Quoting fx2248
Hi Go to post 1602 and use the indicator posted there along with the existing box indicator. I made a new indicator which show entry +/- 30 pips from the box and TP 4,5,and 6. I don't know enough about MT4 to include them all on on indicator .

Hi fx2248, the indicator is useful, but I think it measures NOT the 1st candle of the week as the official guide suggests. It measures the low/high of the 2nd candle of the week (as on your snapshot).
I think we will need a correction in the code.
  • #1,629
  • Aug 9, 2009 8:50pm Aug 9, 2009 8:50pm
Hi everyone,

As always im posting the start of the week and levels. Looks like a pretty busy Wednesday for this week, so don't be surprised to see some good movement. No holidays this week either.

Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: august9th.gif Size: 51 KB
  • #1,630
  • Aug 9, 2009 8:55pm Aug 9, 2009 8:55pm
Ace,

Can you share the indi you're using on your last screenshot with all the levels?

Thanks.
  • #1,631
  • Aug 9, 2009 8:57pm Aug 9, 2009 8:57pm
Quoting Ace284
Modified fib retracements
Levels...
Modification of the fibonacci tool. Here it is
  • #1,632
  • Aug 9, 2009 9:17pm Aug 9, 2009 9:17pm
ace

whats your box range for todays trade its the first time am trying this so just want to make sure

thanks
"The person who knows that enough is enough, will always have enough". .
  • #1,633
  • Aug 9, 2009 9:25pm Aug 9, 2009 9:25pm
Quoting Ace284
Modification of the fibonacci tool. Here it is
Could you attach the indicator you use? It will be easier/faster than trying to modify fibo indi.
  • #1,634
  • Aug 9, 2009 9:29pm Aug 9, 2009 9:29pm
Dear Ace:
First to all, let me give you many tanks to share your System in this forum to many traders (like me), that have a very poor time to look the charts thru the week. Many tanks to al guys in thread to share the variations & modifications of the original system. Here again, like a last 6 Sundays, to make money on the week ahead, learning with very beautiful folks!
My apologizes for my English, of course…. too poor.

Best Regards for all.
  • #1,635
  • Aug 9, 2009 9:34pm Aug 9, 2009 9:34pm
Quoting maq
ace

whats your box range for todays trade its the first time am trying this so just want to make sure

thanks
Box high - 163.19
Box low - 161.90
  • #1,636
  • Aug 9, 2009 9:36pm Aug 9, 2009 9:36pm
I get up at 2:30am to set my pending orders on this system.

Well worth the effort.

Now its back to bed for another 2 hrs before I start the day job

Have a great week everyone

Debdaz
Getting out the Rat Race
  • #1,637
  • Aug 9, 2009 9:52pm Aug 9, 2009 9:52pm
All trades are set now.

This week I am taking trades on G/J, E/J, A/J, Ch/J & Ca/J

All the best to everyone following this system. Let the pips roll in.

Cheers
Garfield
Trading is SIMPLE not EASY.
  • #1,638
  • Aug 9, 2009 9:58pm Aug 9, 2009 9:58pm
so close

163.18
161.90

Quoting Ace284
Box high - 163.19
Box low - 161.90
"The person who knows that enough is enough, will always have enough". .
  • #1,639
  • Aug 9, 2009 10:06pm Aug 9, 2009 10:06pm
Mine abit different from both of you,

162.92
161.87

Anyway, I think should be not much different. Good luck traders!!

Quoting maq
so close

163.18
161.90
  • #1,640
  • Aug 9, 2009 10:24pm Aug 9, 2009 10:24pm
I know that there has been some talk on creating an EA, but with such a simple concept using the original rules or some variation of them, I have found that Steve Hopwood's Multi-Purpose Trade Manager to give enough variation in ways of taking profit, trailing, and otherwise managing trades, that it is really all you need. You can even take out partial profits along the way. You can find the Multi-purpose Trade Manager here with all latest updates and instruction for its use: http://www.forexfactory.com/t/89371/...ment-ea-1.html

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