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Mister ED's 4 hour Heikin Ashi system

  • #621
  • Aug 13, 2009 11:29am Aug 13, 2009 11:29am
Quoting lufkindog
Installed V12.0 last night and had a question about the exit method.

Settings:
Exit-2
Partial close-50
MM-1
Risk 3%

Ea opened a Long Trade on GU at 8:00 GMt... The ATR was 71.
Price went up 100 Pips but the EA did not do a Partial Close.
What Happened?

Lots entered was .21

When the order is place.. The terminal shows a Stop/Loss but not a Take Profit Level... Should a T/P be showing?

Lufkindog
Hi Lufkindog,

I just answered the same sort of question from FXwest in details - see the previous post 621.

In short: no TP should be set as you go for trailing stop which would get you out of the markets eventually. The partial close and the follow up trailing logic is applied once per every new bar - this is my understanding of Mister ED's strategy.

Longbar
  • #622
  • Aug 13, 2009 11:42am Aug 13, 2009 11:42am
Quoting LongBar
Hi Lufkindog,

I just answered the same sort of question from FXwest in details - see the previous post 621.

In short: no TP should be set as you go for trailing stop which would get you out of the markets eventually. The partial close and the follow up trailing logic is applied once per every new bar - this is my understanding of Mister ED's strategy.

Longbar
LongBar

Thank you for the detailed response and you excellent work on putting this EA together..

In Regards to the Partial Close TP.... Would it not be more logical for the Partial Close to kick in once the TP is hit and not wait until a new bar?

Case in point... On my GU long trade....The ATR was 71 and price went up
to 100 Pips.... Price then retraced back down and hit my S/L at Break-even. If the Partial Close would have activated at the T/P then the trade would have netted 50% at T/P of 71 instead of Breakeven.

Just my 2 cents worth.

Lufkindog
  • #623
  • Aug 13, 2009 2:02pm Aug 13, 2009 2:02pm
Quoting LongBar
Hi FXwest,

The EA places a single position per trigger. When the TwoStepOrderSubmit is enabled for FXCM then that single position will be created first without SL/TP and after that the SL/TP will be set as a follow up order modification - this is how FXCM works as a broker platform.

You enabled the MM so the EA will calculate the lot size as per the TradeRiskAccPct parameter. By default it is 3.0 so the position being opened will risk up to 3.0% of the current account balance. The lot size will be rounded (down) to the nearest allowed lot step...



LongBar,

The EA is only triggering 1 trade and the account has more than the 3% as it is a demo, also it is not setting a TP1 or resetting the SL after the trade reaches new bars, the trade does not change after new bars are reached

How do i configure it to intitate 2 trades upon initial trigger and then have a TP1 and SL redone after new bars as per the strategy,

Thank you for your help

FXWest
  • #624
  • Aug 13, 2009 2:42pm Aug 13, 2009 2:42pm
Thanks for this EA Longbar

i have one request hopefully it can be done? right now it goes for 1:1 based on atr TP/SL the same thats fine, iam wondering if we can put TP ATRX2 something like that where the risk/reward would be 2:1

thanks
  • #625
  • Aug 13, 2009 4:57pm Aug 13, 2009 4:57pm
Quoting avatarx51
Thanks for this EA Longbar

i have one request hopefully it can be done? right now it goes for 1:1 based on atr TP/SL the same thats fine, iam wondering if we can put TP ATRX2 something like that where the risk/reward would be 2:1

thanks
Nice suggestion, about ATRx2 have already been applying that on my trade. i wanted to trade it for sometime before making the suggestion. i am considering a risk ration 1:1.5 and 1:2
it is better to miss than to loss pips
  • #626
  • Aug 14, 2009 1:49am Aug 14, 2009 1:49am
Quoting lufkindog
LongBar

Thank you for the detailed response and you excellent work on putting this EA together..

In Regards to the Partial Close TP.... Would it not be more logical for the Partial Close to kick in once the TP is hit and not wait until a new bar?

Case in point... On my GU long trade....The ATR was 71 and price went up
to 100 Pips.... Price then retraced back down and hit my S/L at Break-even. If the Partial Close would have activated at the T/P then the trade would have netted 50% at T/P of 71 instead of Breakeven.

Just my 2 cents worth.

Lufkindog...
Yes, the per tick TP1 monitoring sounds interesting, however Mister ED confirmed the per new bar approach and hence I implemented that.

I'll have a look how easy would be to extend the EA with the per tick TP1 monitoring option while keeping the trailing on new bar basis.
  • #627
  • Aug 14, 2009 2:09am Aug 14, 2009 2:09am
Quoting FXwest
LongBar,

The EA is only triggering 1 trade and the account has more than the 3% as it is a demo, also it is not setting a TP1 or resetting the SL after the trade reaches new bars, the trade does not change after new bars are reached

How do i configure it to intitate 2 trades upon initial trigger and then have a TP1 and SL redone after new bars as per the strategy,

Thank you for your help

FXWest
Hi FXwest,

It is expected to have 1 trade per trigger, also expected no TP to be set as you go for trailing SL according to your settings. Seems to me the question is whether the TP1 has been hit and if it was why the trailing logic does not move the SL on the position. Would you post a screenshot and the relevant experts and MT logs (see post 572 for details) to investigate?

Cheers!
  • #628
  • Aug 14, 2009 2:31am Aug 14, 2009 2:31am
Quoting avatarx51
Thanks for this EA Longbar

i have one request hopefully it can be done? right now it goes for 1:1 based on atr TP/SL the same thats fine, iam wondering if we can put TP ATRX2 something like that where the risk/reward would be 2:1

thanks
Factoring up/down ATR value to come up with SL there is the ATRMultiplier parameter. So you are looking for a similar feature but to derive the TP1 independently from SL, right?
  • #629
  • Aug 14, 2009 3:55am Aug 14, 2009 3:55am
Quoting LongBar
Is it still not getting into trades?

Please double check that the right HA indicator from the very first post is properly installed on MT.
Ah ha,

that could be it. I was trying it out with different indicators that other people had contributed on this thread, i didn't know that an EA could be dependent on an indicator, i thought they were separate entities entirely - the EA being the maths, nuts and bolts and incorporating indicator type information within their code; while actual indicators were there to look pretty and provide the 'human' input.

My mistake - i'll get on it and try it out asap.

I've been running other EAs for some months now without actually coming a cropper like this before. What a plum!

Thanks Longbar.
  • #630
  • Aug 14, 2009 4:14am Aug 14, 2009 4:14am
Hi Longbar

Thanks for the EA (great work) and of course thank you to Mister ED.

All working well on my Live account except for one thing EA V12 is set to Exit 2 and does not set a TP or SL on the next bar or even the one after that.

FXDD account so step 2 set to false. And yes the Normal TP1 would have been hit but not executed by the EA.

I have been managing the TP and SL manually so far so all is good.

Your input as to why would be greatly appreciated

Thanks
CY
  • #631
  • Aug 14, 2009 6:29am Aug 14, 2009 6:29am
I live in Innerkip Ontario, I have included screen shot of chart, I use line chart, you miss a few pips, and use the 34 and 5 stoch, the 34 keeps me in trade,the 5 tells me profit taking or retacement when they both move together and tight together good move coming when the 5 and 12 EMA cross each other then they cross the 13 SMA at a 90% angle, good pips coming Still working on things


Quoting CatDiging375
Mister ED I have been working with the HA idea I leave the candles out and just use the price line chart. less stress, I have someone who can
program this idea, I was going to see about getting my Idea programmed by him he does EA's and other programming for small fees and stands behind them
Attached Image (click to enlarge)
Click to Enlarge Name: april 13082009.jpg Size: 154 KB
  • #632
  • Edited 8:21am Aug 14, 2009 7:33am | Edited 8:21am
Mr Ed, may I ask which spread better you are using?
  • #633
  • Aug 14, 2009 7:35am Aug 14, 2009 7:35am
Hi Longbar and Mr Ed,

Thanks for the Strategy and the EA. I have been using v.7 for several weeks and just installed v12 for next week. I am running on two demo accounts and one small live account. All three with different brokers and different results though all positive.

One Alpari UK account got trashed by the EU pair after the FOMC announcement I think it was on last Tuesday. The news release just happened to be at the 4 hour mark and the trade was tiggered then the announcement caused the pair to hit the SL. It was a high roller demo account so only ego got hurt.

Could you add to the EA a do not trade for news events feature. Another EA I am using on a demo account has this feature and one can set it for so many minutes/hours prior or after a news event not to trigger a trade. I wish I was software enabled but currently it is not the case. The feature is triggered by FF news calendar. The indicator used in the EA is called THV3 FFCal.

Thanks again for all that you two and the group have done.

Alsea
  • #634
  • Aug 14, 2009 8:58am Aug 14, 2009 8:58am
Quoting LongBar
Factoring up/down ATR value to come up with SL there is the ATRMultiplier parameter. So you are looking for a similar feature but to derive the TP1 independently from SL, right?
yes exactly, that would be great

maybe even have option where at ATR1 TP1 either half is taken off or BE, and let rest run to TP2 ATRX2, or just go for 1:2 ratio on all your trades and honestly looking back at the charts going 1:2 has soem good results

i have been running live and i usually adjust the TP for more, so if the EA can do this perfect thanks again for your hard work
  • #635
  • Aug 14, 2009 9:43am Aug 14, 2009 9:43am
Quoting LongBar
Hi FXwest,

It is expected to have 1 trade per trigger, also expected no TP to be set as you go for trailing SL according to your settings. Seems to me the question is whether the TP1 has been hit and if it was why the trailing logic does not move the SL on the position. Would you post a screenshot and the relevant experts and MT logs (see post 572 for details) to investigate?

Cheers!


HI LongBar,

It seems that FXCM will not let me close 1/2 of the trade at TP1, so is it possible to trigger 2 trades and then have 1 exit at TP1 ans the other have the stop loss as per Mr Eds Strategy?

Below is the relevant logs info i could find as a lot of it is redundant. I am running multiple Mr Ed EAs for all his pairs at once, if that affects it at all,

But, also please see the screen shots

Thanks

FXWest


23:59:58 MisterED_v0.11.2 GBPJPY,H4: INFO: CheckTrigger - no colour change in HA direction, no trade triggered (SELL,2:SELL)
23:59:58 MisterED_v0.11.2 GBPJPY,H4: TRACE: ManageExit - invoked at 2009.08.14 08:00
23:59:58 MisterED_v0.11.2 GBPJPY,H4: #5376729 2009.08.13 20:00 sell 0.20 GBPJPY 157.445 158.



23:59:57 1 Box 4 B GBPJPY,H4: ObjectSet Done
23:59:57 1 Box 4 B GBPJPY,H4: ObjectMove Done
23:59:57 1 Box 4 B GBPJPY,H4: ObjectsRedraw Done
23:59:58 1 Box 4 A EURJPY,H4: 0
23:59:58 1 Box 4 A EURJPY,H4: ObjectSet Done
23:59:58 1 Box 4 A EURJPY,H4: ObjectMove Done
23:59:58 1 Box 4 A EURJPY,H4: ObjectsRedraw Done
23:59:58 1 Box 4 B EURJPY,H4: 0
23:59:58 1 Box 4 B EURJPY,H4: ObjectSet Done
23:59:58 1 Box 4 B EURJPY,H4: ObjectMove Done
23:59:58 1 Box 4 B EURJPY,H4: ObjectsRedraw Done
23:59:58 1 Box 4 A EURJPY,H4: 0
23:59:58 1 Box 4 A EURJPY,H4: ObjectSet Done
23:59:58 1 Box 4 A EURJPY,H4: ObjectMove Done
23:59:58 1 Box 4 A EURJPY,H4: ObjectsRedraw Done
23:59:58 1 Box 4 B EURJPY,H4: 0
23:59:58 1 Box 4 B EURJPY,H4: ObjectSet Done
23:59:58 1 Box 4 B EURJPY,H4: ObjectMove Done
23:59:58 1 Box 4 B EURJPY,H4: ObjectsRedraw Done
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 54 KB
Click to Enlarge Name: grpjpy.gif Size: 53 KB
  • #636
  • Aug 14, 2009 10:57am Aug 14, 2009 10:57am
Quoting LongBar
Hi dfxclub,

What is the difficulty to get the MM right? Is it settings related or something else?

longbar
Hi LB

I dont think its the settings (below are the settings I am using)

Lots : 0.1
EA period: 6
Trade all days
Exit method 2
Partial close 50
Money mng method 1
trade risk 2
SL ATR() * ATR multiplier

---------------------------

Can I make a recommendation... Im not a programmer so I dont know if its possible or not...

How about if the EA opens 2 positions according to account risk and one has fixed TP level of ATR (ie stop loss level) and the second trails or the trade manually trails. That way we wouldnt have to worry about any platform specifications. 1 trade would be fixed with entry and TP and the 2nd trade would be either trailing or the individual can move stops manually.

I think this is the same problem that some of the other guys are having too which made posts.

Hope we can get over this one. I had some nice trades. And I think the method is great. The rest seems all good on the EA

All the best
  • #637
  • Aug 14, 2009 2:14pm Aug 14, 2009 2:14pm
Quoting cyclonic
Hi Longbar

Thanks for the EA (great work) and of course thank you to Mister ED.

All working well on my Live account except for one thing EA V12 is set to Exit 2 and does not set a TP or SL on the next bar or even the one after that.

FXDD account so step 2 set to false. And yes the Normal TP1 would have been hit but not executed by the EA.

I have been managing the TP and SL manually so far so all is good.

Your input as to why would be greatly appreciated

Thanks
CY

I am just reviewing others feedback like yours and seems to me the understanding of the TP1 target and trailing stop handling mechanism is not common.

My understanding of Mister ED's strategy is to check reaching TP1 with each new candle only. If TP1 is reached at that point in time then partial close takes place, SL will be adjusted and with each additional new candle the trailing stop would occur. However if the TP1 was reached before, but with the new candle the TP1 is actually not reached (retracement happened) then the partial close does not take place nor the trailing....

Earlier today we already concluded to extend the EA with the per tick TP1 check as opposed to the current per new candle TP1 check. This feature extension would probably resolve the questions "why TP1 partial close/trailing stop not working"...

Cyclonic: could you check that the TP1 was hit (or exceeded) at new bar open time?
  • #638
  • Aug 14, 2009 2:19pm Aug 14, 2009 2:19pm
Quoting Alsea
Hi Longbar and Mr Ed,

Thanks for the Strategy and the EA....
Alsea, could you post a link to the indicator so I could take a look at it for integration?

Thanks for the idea!
  • #639
  • Aug 14, 2009 3:00pm Aug 14, 2009 3:00pm
Quoting FXwest
HI LongBar,

It seems that FXCM will not let me close 1/2 of the trade at TP1, so is it possible to trigger 2 trades and then have 1 exit at TP1 ans the other have the stop loss as per Mr Eds Strategy?

Below is the relevant logs info i could find as a lot of it is redundant. I am running multiple Mr Ed EAs for all his pairs at once, if that affects it at all,

But, also please see the screen shots

Thanks

FXWest


23:59:58 MisterED_v0.11.2 GBPJPY,H4: INFO: CheckTrigger - no colour change in HA direction, no trade triggered (SELL,2:SELL)
23:59:58...
Thanks for the feedback FXwest.

The screenshots suggest me that the TP1 has not been hit so far at a new bar open time. Therefore there was no partial closure performed nor follow up trailing happened. Note that the EA checks for TP1 at new candle only, the trailing stop is applied once the TP1 was hit.

The EURJPY has reached TP1 during the open candle, the GBPJPY pair is very close to reach TP1 so the next candle may actually trigger the partial closure and kick off the trailing stop after that. I am curious to see what happens so please keep me updated

As I mentioned the per tick TP1 check would kick off earlier the partial closure + trailing mechanism - I think I am going to implement this extension to the EA next.
  • #640
  • Aug 14, 2009 3:16pm Aug 14, 2009 3:16pm
Quoting LongBar
Thanks for the feedback FXwest.

The screenshots suggest me that the TP1 has not been hit so far at a new bar open time. Therefore there was no partial closure performed nor follow up trailing happened. Note that the EA checks for TP1 at new candle only, the trailing stop is applied once the TP1 was hit.

The EURJPY has reached TP1 during the open candle, the GBPJPY pair is very close to reach TP1 so the next candle may actually trigger the partial closure and kick off the trailing stop after that. I am curious to see what happens so please keep...

Hi LongBar

Nothing was triggered, I exited one at manually and the other is still going.

Thanks for the good work at this, as this is a Very good system!

FXWest
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