4H Box Breakout | Page 112 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Box Breakout indicator 197 replies

Breakout EA based on New York Box 3 replies

4H Weekly Box Breakout [TD] 4 replies

EURUSD Box Breakout 6 replies

Breakout Box 5 replies

Attachments: 4H Box Breakout
Exit Attachments

4H Box Breakout

  • #2,221
  • Edited 11:13am Aug 22, 2009 10:13am | Edited 11:13am
Quoting Ronald Raygun
Simultaneous buy/sell orders are being removed by the NFA, I prefer to keep the pending orders internal to the EA, so the broker cannot see that I have two orders open in opposite directions (implying a straddle).

As for your code, are you saying there is the possibility where the bar will close inside the box, then the next bar gaps outside the box?

If that's the case, it probably wouldn't be a good idea, and here's why I think why. Had you put in a plain pending order there, and the price gaps across a bar, the pending order will still get...
Little gap can occur, especially on lower TF and in Asian Session on week open and more on 5 digits Broker. it's difficoult have a big gap, except from week close to open, but your observation is interesting, and maybe add a limit to gap for open position is a good idea.

Thanks.

Lubo.
If I know how, I tell You!! Few but Good!!
  • #2,222
  • Aug 22, 2009 10:56am Aug 22, 2009 10:56am
This week I'm going to place pending orders in both directions as usual. But I'm going to close 1/2 at TP1 and follow the rule of moving TP on the remainder to BE + 10 (possibly 20). My target for this position will be TP3. If I get stopped out on the remaining order I will place another pending order in the same direction as the original trend. This is Droland's approach. I will also consider closing the remaining order early if it's in significant profit and reverses. If that happens I'll also place a new pending order in the same direction.

Some are placing two separate orders in each direction and closing one at BE. After considering that I decided to reduce the exposure of being stopped out on 2 orders in the same direction. I'll just split the single order.

I'm also going to be using Aadjik's daily system on demo. I just eyeballed using the close of the first 4 hour candle on the open (Fxdd 00 candle) and the results look promising. This is a different candle from the one that Aadjuk uses. I'll reduce my TPs and will experiment with the ema 30 as a trend filter.

We're coming to the end of the summer and hopefully we'll see more trending in the GJ.

Sandy
  • #2,223
  • Aug 22, 2009 12:36pm Aug 22, 2009 12:36pm
Hello,
I have a couple of questions.
1. If I apply the EA to one hour chart I set Bars from week start to 4 Yes?. Is there a preference as to which timeframe to set it to?
2. How do the stop loss multiplyer and take profit multipler work? If the stop loss is set at 100 and the mulitpler to 3 is the sop loss then 300?

Thanks for your help.

Perhaps someone could share there settings.

regards

N
  • #2,224
  • Aug 22, 2009 4:14pm Aug 22, 2009 4:14pm
Quoting nickmead
Hello,
I have a couple of questions.
1. If I apply the EA to one hour chart I set Bars from week start to 4 Yes?. Is there a preference as to which timeframe to set it to?
2. How do the stop loss multiplyer and take profit multipler work? If the stop loss is set at 100 and the mulitpler to 3 is the sop loss then 300?

Thanks for your help.

Perhaps someone could share there settings.

regards

N

Keep making things more complex than they are , buddy.
  • #2,225
  • Aug 22, 2009 4:42pm Aug 22, 2009 4:42pm
I'm not trying to complicate things. Just find out how it works, rather than just put the ea on blindly

regards

N
  • #2,226
  • Aug 23, 2009 2:07am Aug 23, 2009 2:07am
it amazes me how people change the rules and put money on the line without proper backtesting.....

you will never get there without a lot of hard work
  • #2,227
  • Aug 23, 2009 4:21am Aug 23, 2009 4:21am
agree. people tends to change the rules / parameter / methodology, trades for 3 to 4 times and declares it to be a successful variation (or bad variation if the results from the 3-4 times testing were bad)

A system needs concret backtesting proof before it could be said successful or failure.


Quoting yonnie
it amazes me how people change the rules and put money on the line without proper backtesting.....

you will never get there without a lot of hard work
  • #2,228
  • Aug 23, 2009 8:18am Aug 23, 2009 8:18am
Quoting dannywmk
agree. people tends to change the rules / parameter / methodology, trades for 3 to 4 times and declares it to be a successful variation (or bad variation if the results from the 3-4 times testing were bad)

A system needs concret backtesting proof before it could be said successful or failure.

The system has been back tested.
The principles should be followed. But money management can differ. I personally do exactly as told, but make small chane in money management and will be really trading all versions including original live funds starting tomorrow long term. not 3-4 weeks
  • #2,229
  • Aug 23, 2009 10:59am Aug 23, 2009 10:59am
Hi
I am learning this system .
The EA looks very professional BUT I am not .
So many parameters for me ...
Can someone help with the setting , so If possible will be according the originals rules as on page #1 .
Tks
David
  • #2,230
  • Aug 23, 2009 11:39am Aug 23, 2009 11:39am
Quoting yonnie
it amazes me how people change the rules and put money on the line without proper backtesting.....

you will never get there without a lot of hard work
Back-testing is one of the myths, Mate. Trading is done while the clock is ticking.
  • #2,231
  • Aug 23, 2009 12:44pm Aug 23, 2009 12:44pm
Hey everybody,

I just want to confirm i am using IBFX sunday candle that period seperator refers to, close of 00:00GMT, is this the correct candle?

Also to clear something up in my mind, if we are betting on various TP levels for instance say i have 3, this means that i will have 6 positions for the week, correct? With 6 potential stop losses?

Thanks for your help guys.
  • #2,232
  • Aug 23, 2009 3:34pm Aug 23, 2009 3:34pm
Can you tell me the open of your first 4h bar this week?
  • #2,233
  • Aug 23, 2009 4:37pm Aug 23, 2009 4:37pm
Quoting nwongie
Hey everybody,

I just want to confirm i am using IBFX sunday candle that period seperator refers to, close of 00:00GMT, is this the correct candle?

Also to clear something up in my mind, if we are betting on various TP levels for instance say i have 3, this means that i will have 6 positions for the week, correct? With 6 potential stop losses?

Thanks for your help guys.
the original entry parameters are based off the close of the 0:00 fxdd candle which is different that ibfx time. You can download a demo rather easily to get your calculations and then put them on your ibfx account. Not sure what your asking regarding 6 positions. If you want to exit at different levels then yeah, you would have multiple positions. Original system require one position pending in each direction. If you want to exit at tp3 thats just going to be three times the stop which is high-low of candle plus 20.
  • #2,234
  • Aug 23, 2009 4:37pm Aug 23, 2009 4:37pm
people READ THE F#$%^@ING THREAD. STOP THE EA MADNESS OR TAKE IT TO ANOTHER THREAD AND STOP THE CLUTTER
  • #2,235
  • Aug 23, 2009 5:19pm Aug 23, 2009 5:19pm
i'm a bit surprised that first candle on 4H timeframe lasts one hour
i 've done 2 years backtest, but never watch it live
i'm gmt+1 (central europe) and the first candle just formed, now the second is forming
sorry for that infant silly question on so serious thread but can someone from central europe tell me which candle is it? ;D
market is running from 23:00 my time
Attached Image (click to enlarge)
Click to Enlarge Name: bez tytułu.JPG Size: 65 KB
  • #2,236
  • Aug 23, 2009 5:35pm Aug 23, 2009 5:35pm
Quoting davewooldrid
people READ THE F#$%^@ING THREAD. STOP THE EA MADNESS OR TAKE IT TO ANOTHER THREAD AND STOP THE CLUTTER
I and others asked a legitemate question. I have been using the original system as posted by ACE and it has been very sucessful for me. The EA was posted by a respected and long standing member of FF (unlike you) and there has been much discussion about it on this thread. This past week I was able to make a single entry for a 100 pips off the original system but I noticed that the EA posted by Ronald Raygun would have made three entrys all of which would have been profitable in last weeks ranging market.
Clutter in a thread is caused by needless criticism of other peoples posts which has sadly become indicative of FF by newcomers in the last few months

regards

N
  • #2,237
  • Aug 23, 2009 5:45pm Aug 23, 2009 5:45pm
[quote=cinex;2982691]i'm a bit surprised that first candle on 4H timeframe lasts one hour
i 've done 2 years backtest, but never watch it live
i'm gmt+1 (central europe) and the first candle just formed, now the second is forming
sorry for that infant silly question on so serious thread but can someone from central europe tell me which candle is it? ;D
market is running from 23:00 my time[/quo
I believe that the timeframe is going to be 21:00 gmt to 1:00 gmt. Go down to the 1 hour timeframe and build the box around those times. Or like I said two posts back download the fxdd demo and run your numbers on that broker and then put your pending orders on your live account broker. If you had read the thread you would realize this has been covered about a dozen times. It happens every Sunday. The candle will close in about 2 hours and 15 minutes.
  • #2,238
  • Aug 23, 2009 5:59pm Aug 23, 2009 5:59pm
[quote=11andy11;2982753]
Quoting cinex
i'm a bit surprised that first candle on 4H timeframe lasts one hour
i 've done 2 years backtest, but never watch it live
i'm gmt+1 (central europe) and the first candle just formed, now the second is forming
sorry for that infant silly question on so serious thread but can someone from central europe tell me which candle is it? ;D
market is running from 23:00 my time[/quo
I believe that the timeframe is going to be 21:00 gmt to 1:00 gmt....


You should have read what Ace wrote. Sign with FXDD MT4. do what Ace says on page 1 and you will see the candle he mentioned.
  • #2,239
  • Aug 23, 2009 7:30pm Aug 23, 2009 7:30pm
Quoting nickmead
Hello,
I have a couple of questions.
1. If I apply the EA to one hour chart I set Bars from week start to 4 Yes?. Is there a preference as to which timeframe to set it to?
2. How do the stop loss multiplyer and take profit multipler work? If the stop loss is set at 100 and the mulitpler to 3 is the sop loss then 300?

Thanks for your help.

Perhaps someone could share there settings.

regards

N
1) Yes, if you want to use the first 4 hours after the bar you designate as the start bar.

2) StopLossMultiplier applies to the range defined for the current week. The range is LongEntry - ShortEntry, which is High to Low plus both buffers at either end. Ace uses a TP of 4, so set the TP multiplier to 4 and stoploss multiplier to 1.


Quoting davewooldrid
people READ THE F#$%^@ING THREAD. STOP THE EA MADNESS OR TAKE IT TO ANOTHER THREAD AND STOP THE CLUTTER
I will make the safe assumption that you took your own advice? If that's the case, you will note that I did in fact explain the settings here. Your vigilence in keeping this thread as clutter-free as possible is most welcome. As a suggestion from me, instead of simply blindly pointing someone to simply read the thread, tell them where to find the information. You presumably know where it is already.

This isn't a personal attack from me to davewooldrid, this applies to everyone. Don't take the lazy way out and simply tell others to read the thread, show them where to find the information, and if possible, explain to them how to find it.

That said, for future reference, the--admittedly minimal--documentation regarding the EA's settings can be found:

>>>HERE<<<




Quoting nickmead
Clutter in a thread is caused by needless criticism of other peoples posts which has sadly become indicative of FF by newcomers in the last few months

regards

N
Let me preface this by saying the following applies to everyone, not just nickmead.

Instead of bickering back and forth, my suggestion would be to ask how to find whatever you're looking for, or even where it is. Don't simply ask expecting people to spoon-fed information to you. I personally abhor anyone who blindly posts on these threads asking for information which is readily accessible if they actually look for it.

I purposely spread out the 32 EAs I use in my own trading throughout this forum. The reason is to get people to read through and hunt through the threads, the logic being some of the wisdom put in those threads by other members of ForexFactory may be absorbed into these newbies' heads, making them better traders. Countless hundreds of people have PMed me e-mailed me, and even had the tenacity to call me demanding that I give them all of those EAs cold turkey. To date, there have been 4 people who have successfully found those EAs. They are all trading successfully, and even coming up with their own new creations for trading systems.



Ok, that's my rant. Moving on, deep breaths....


The EA issue.

Some threadstarters have spoken with me regarding my putting my EAs of their systems up on their threads. The resulting EA dialogue can certainly be distracting, and I agree it's a bit of a problem.

My solution is fairly simple, but unfortunately, not all-encompassing.

Some of you have already found my support ticket website. It's not perfect yet, I'm having issues with the sendmail function of the website. The idea will be, I post the EA up on the thread, but all resulting EA problems will go up into that support ticket system. This helps me in a few ways:

 

  1. I can see all the problems and fix them simultaneously. This also means I can support EAs across multiple forums (as I found some have seem to migrated to the likes of Forex-TSD, BabyPips, et al).
  2. There won't be 20-30 post-long discussions asking why an EA doesn't work and the resulting constant bickering until I set things straight. There will however still be discussions on how to 'improve' the system. I have a feeling that this cannot be avoided.

I am also thinking of putting up a wiki, detailing the underlying system behind each of my EAs, and explaining the settings of each EA.

That said, I'm looking for any web-developers or other web-experts out there who can help me further set up and administer this project. The underlying framework is already there (wiki framework, support ticket framework). I need help polishing it and making it presentable to the FF community. I'm also going to ask Twee if ForexFactory will allow me to host such a website and if I get the go-ahead, things will hopefully be easier for everyone on ForexFactory.

  • #2,240
  • Aug 23, 2009 7:47pm Aug 23, 2009 7:47pm
You are a good man, RR!
2 traders viewing now