FrankenPip's C4 EA --- Would appreciate help | Forex Factory

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FrankenPip's C4 EA --- Would appreciate help

  • #1
  • First Post: Edited Sep 2, 2009 12:12am Aug 22, 2009 5:57am | Edited Sep 2, 2009 12:12am
Hi All,

There is an interesting very simple scalping method described by FrankenPip at :

http://www.forexfactory.com/showpost...34&postcount=1
Essentially the chart is divided in 10 pip "stations".
For example as in FrankenPip's first chart: Assume price goes from 137.51 to 137.65 (blue train), this means that it arrives at station 137.60-137.70. If it reverses from this station and crosses below 137.60 then we enter short for at least 5 pips profit. See more examples at:
http://www.forexfactory.com/showpost...&postcount=353

Programming it is really simple but the gentlemen in FrankenPip's thread didn't want to spoil the thread with EA talk so I turned to you guys. With all the talent I've seen in the programming forums I am sure this is no more than 1 hr programming for you (unfortunately I lack programming skills).
If somebody will help please consider the following features:
1) Able to adjust size of TP, SL, and a trailing TP
2) Able to choose only long trading(blue trains), only short (red trains) or both trains...
3) If easy to program, pick the hours of trading (e.g. 6-17 GMT)

Thank in advance dudes.
Kostas1.

P.S. Mr Cgrey at http://www.forexfactory.com/showpost...&postcount=986 has already used his skills to write a script to enter trades and and EA to manage trades but not a complete solution.


----------------------------- ADDED on 30/8/2009 ------------------------------
Hayseed has created version 1 of this EA. See post #66

----------------------------- ADDED on 31/8/2009 ------------------------------
Version 2 is here:
Attached File(s)
File Type: mq4 Kostas_v2.mq4   15 KB | 636 downloads | Uploaded Aug 31, 2009 12:44pm


----------------------------- ADDED on 1/9/2009 ------------------------------
The original FrankenPip's thread has been put in the recycle bin. Nevertheless, the method still looks to have merit, especially if we provide 1-2 filters which is what the gents in this thread are trying to do with the EA.
  • #2
  • Aug 22, 2009 7:23am Aug 22, 2009 7:23am
I only wish I had the time to learn how to program

If anyone is working on it a script file for Buy stop and Sell stops would work well. I described it as making a reservation for a train
if the train is at 134.53 and you miss the 134.50 you can make a reservation a 134.60. I've been playing around with buy stops only all week and have been hitting over 70% I was in the 80's% but had a bad run. Not sure if it was impatence on my part or just the rat getting me

There was some development of a script and ea but it only worked on 5 didgit brokers. I'm trying to edit the code to make it work for me but I'm going about it blind by just changing numbers and hunting and pecking

Hopefully some one make something

The system is very very easy and simple but to let the script file place the order with just a click and let an EA manage it is nice and lets you go to the washroom with out worring about losing PIPS
  • #3
  • Aug 22, 2009 7:26pm Aug 22, 2009 7:26pm
hey kostas...... wise move asking for help over here.... your post caught me...... it's well laid out and precise with both a purpose and goal..... and deserves response.....

i code almost every system suggested on all the forex forums, including the foriegn forums, mostly for my own couriosity..... unfortunately some use too much discretion to code properly....

i'm coding ea's and indicators all day everyday, but will work your deal in, unless someone does it first......h
to trade and code, keep both simple... no call to impress....h
  • #4
  • Aug 23, 2009 3:57am Aug 23, 2009 3:57am
Quoting hayseed
hey kostas...... wise move asking for help over here.... your post caught me...... it's well laid out and precise with both a purpose and goal..... and deserves response.....

i code almost every system suggested on all the forex forums, including the foriegn forums, mostly for my own couriosity..... unfortunately some use too much discretion to code properly....

i'm coding ea's and indicators all day everyday, but will work your deal in, unless someone does it first......h
Hayseed,

Nice seeing you again. I appreciate your fast response .
Waiting anxiously for your work.
  • #5
  • Aug 23, 2009 7:19am Aug 23, 2009 7:19am
Hayseed how far have you got ?

I coded this as a simple test a while back while working on a c4 ea... but it doesn't seem reliable because it can trade against the trend... FrankenPip's thread was very new back when I coded it so will have a look back over it to see if I made any mistakes in the logic of the ea...

LL
The winner of the rat race is still a rat.
  • #6
  • Aug 23, 2009 4:06pm Aug 23, 2009 4:06pm
Quoting LittleLuca
Hayseed how far have you got ?

I coded this as a simple test a while back while working on a c4 ea... but it doesn't seem reliable because it can trade against the trend... FrankenPip's thread was very new back when I coded it so will have a look back over it to see if I made any mistakes in the logic of the ea...

LL
LL,
Thanks for the interest. I am also interested to see what Hayseed comes up with and try something this week.

Kostas
  • #7
  • Aug 24, 2009 11:43am Aug 24, 2009 11:43am
Hayseed,
Any luck with this EA?
  • #8
  • Aug 24, 2009 5:28pm Aug 24, 2009 5:28pm
C'mon guys, this is a good strategy, based on no indicators but price, and should be easy to code for you Gurus. Unfortunately, I'm not a programmer.

Thanks and will be much appreciated, I'm sure.

Regards
Pardy
  • #9
  • Aug 24, 2009 5:43pm Aug 24, 2009 5:43pm
Quoting Pardy
C'mon guys, this is a good strategy, based on no indicators but price, and should be easy to code for you Gurus. Unfortunately, I'm not a programmer.

Thanks and will be much appreciated, I'm sure.

Regards
Pardy
It buys too many false signals... when the price is jumping up and down it buys and sells too much!! Needs a trending idea which is contra to the whole methodology... any ideas?
The winner of the rat race is still a rat.
  • #10
  • Aug 24, 2009 5:49pm Aug 24, 2009 5:49pm
Attached Image (click to enlarge)
Click to Enlarge Name: frankenpipchart.gif Size: 18 KB


Are you guys going to let the rat beat you?
If you only trade long, then you can't always be wrong.
  • #11
  • Aug 24, 2009 6:12pm Aug 24, 2009 6:12pm
hey kostas and LL..... yes all is well and moving forward..... had some things to finish first......

for the purpose of writing the ea let's for the time being speak using standard metatrader terms, such as open, close, up bar, down bar and such.....

using terms like trains , stations, bombs, explosives , c4, nitro and similar will only slow down the process.....


look at this chart and check all 6 sells.... i have red grid lines every 10 pips.... each trade has the same prior sequence.....

the sequence is.......

/// ----> a blue bar where, a prior open was below a red grid line with the prior close being above the red grid line....

followed by...

//-----> a red bar where, the open was above the same red grid line and the close being below the same red grid line....

once the sequence is complete, we sell on the next open......

don't concern yourself with how many trades, profittargets or anything except whether are not these 6 qualify as sells according to your rules....h
Attached Image (click to enlarge)
Click to Enlarge Name: kostas 1.gif Size: 44 KB
to trade and code, keep both simple... no call to impress....h
  • #12
  • Edited 7:35pm Aug 24, 2009 7:18pm | Edited 7:35pm
Quoting hayseed
hey kostas and LL..... yes all is well and moving forward..... had some things to finish first......

for the purpose of writing the ea let's for the time being speak using standard metatrader terms, such as open, close, up bar, down bar and such.....

using terms like trains , stations, bombs, explosives , c4, nitro and similar will only slow down the process.....


look at this chart and check all 6 sells.... i have red grid lines every 10 pips.... each trade has the same prior sequence.....

the sequence is.......

/// ----> a blue bar...
Thanks Hayseed,

The logic as I understand it is:

For short trades:
1. A blue bar where the the close is higher than open. This falls in one of the grids, say 134.20 - 134.30. Assume the close is 134.27.
2. The Ea is now "ready" for a sell. The sell is taken if prices touches the lower grid line, in this case 134.20.

For long trades:
1. A red bar where the close is lower than the open. This falls in one of the grids, say 134.20 - 134.30. Assume the close is 134.27.
2. The EA is now ready for a buy. The buy is taken as soon as price hits the upper grid line, in this case 134.30.

Conditions: For both buys and sells, the entry candle at the point of entry must not be greater than 10 pips.
For our example, say a red candle closed at 134.25. Price then went down to 134.17, and then climbed up to 134.26, at which point the candle is now BLUE, but is already 9 pips long ( from the low), and by the time it reaches 134.30, it will be 13 pips (low of 134.17 to entry point of 134.30).
This entry should not be activated.


Simple way to look at it is, wherever a red or blue candle closes, a trade is taken in the opposite direction immediately at the touch of the upper/lower grid line IN THE GRID WHERE THE SIGNAL CANDLE CLOSED, in the expectation that it will upon crossing the upper/lower grid, continue for 5 pips.

Hope that clarifies.

Regards
Pardy
  • #13
  • Aug 24, 2009 8:14pm Aug 24, 2009 8:14pm
hey pardy...... frank keeps mentioning both blue and red bars..... the color can not be known for sure till the candle closes.....

so the candle must close first.... if you trade at the moment " The sell is taken if prices touches the lower grid line " it seems we would be trading before the color could possibly be known.....

we need to clarify that.....

//--------
//--------

here is the reverse sequence for the buys.....

which is....

/// ----> a red bar where, a prior open was above a blue grid line with the prior close being below the blue grid line....

followed by...

//-----> a blue bar where, the open was below the same blue grid line and the close being above the same blue grid line....

once the sequence is complete, we buy on the next open......


//-------

so basically the buys and sells are price reversals after crossing a particular level......

didn't number the trades this time but check and see if any don't quailfy to the basic rules.....

and again, pay no attention to profittargets, multiple orders and such..... we are only interested in the actual order placement......h
Attached Image (click to enlarge)
Click to Enlarge Name: kostas 2.gif Size: 38 KB
to trade and code, keep both simple... no call to impress....h
  • #14
  • Edited 8:51pm Aug 24, 2009 8:33pm | Edited 8:51pm
Quoting hayseed
hey pardy...... frank keeps mentioning both blue and red bars..... the color can not be known for sure till the candle closes.....

so the candle must close first.... if you trade at the moment " The sell is taken if prices touches the lower grid line " it seems we would be trading before the color could possibly be known.....

we need to clarify that.....

//--------
//--------

here is the reverse sequence for the buys.....

which is....

/// ----> a red bar where, a prior open was above a blue grid line with the prior close being...
You are right in that the final color of the candle will only be confirmed upon its close. However, after the signal candle which has closed, say red, then the next candle becomes blue at it goes above its open, for purposes of entering the trade this is a valid blue candle, and the trade is entered at the upper grid line ( at which point the candle is BLUE) in the expectation that it will move a further 5 pips.

Now, it is quite possible that this particular candle may go and give you your 5 pips but then retrace and even close red. You see that with many trades in the examples given by Frankenpip- by looking at the upper wick, you can assess whether that trade was a success or not!

Now, if you were to wait for the candle to close and confirm itself as a long/blue candle, you have missed the entry most likely - you now have a candle that has already possibly crossed the upper grid for 5 pips, lowering the chances of the next candle providing you with the 5 pips you are looking for.

For purposes of the EA, the ea does not have to consider the candle colour of the entry candle. Once the signal candle criteria is met, it can simply take a trade at the upper grid value as soon as price touches that.


To further improve your successful trades, frank suggests as under:

1. For Longs. The distance travelled by the red candles ( one or more) is greater than 2 grids. Say starting in the grid 134.20- 30, price moves down to the 134.10-20 grid, and then to 134.00-10 grid. Your trade has a gretly enhanced chance of success if you get a blue/long candle starting now in the 134.00-10 grid and the the trade is obviously taken as soon as price reaches 134.10.

2. For Shorts. The opposite.

If possible, it might be a good idea therefore to have as an extern a " no. of grids" of 1 or 2, so we can specify whether we want price to have travelled in one direction for crossing over two grids, for a trade to be taken in the opposite direction.

So, for EA purposes.

Say Open price is at 134.35 ( grid 134.30-40)
Price goes down to 134.17 ( in 1 or more candles) It has therefore started at grid 134.30-40, moved down to next grid (1st level if u like) 134.20-30, moved down to the next grid (now the 2nd level) 134.10-20.
The EA is now waiting for price to hit 134.20 at which point it will enter a buy order.

Should price go down further to level 3 (134.00-10) the EA is again waiting now for price to touch 10 to enter the buy.

Note that the short or red candle must close, and the buy executed on a new candle opening in the GRID. In other words, for a long to be executed at say 134.10, the candle must have closed/opened in the grid 134.00-10.

The reason is to safeguard against the situation where say the red candle is moving below 134.10, goes to 134.08, moves up to 134.11 ( the EA should not initiate a trdae here), goes down to 134. 05 and closes. Only when this candle closes, it becomes a valid saignal candle, with entry taken if price now goes to 134.10.

TP and SL could also be an extern variable.

Hope that is explained well!!!!

Regards
Pardy
  • #15
  • Aug 25, 2009 12:11am Aug 25, 2009 12:11am
Quoting hayseed
hey pardy...... frank keeps mentioning both blue and red bars..... the color can not be known for sure till the candle closes.....


which is....
.....h

Hayseed,
During all your postings I was sleeping (GMT+2 for me). Thanks for your effort.
Pardy described well what the concept is so I will not confuse you with more info. I will suggest pairs G/U, E/J since E/U doesn't behave as well for scalping.

Kostas.
  • #16
  • Aug 25, 2009 12:13am Aug 25, 2009 12:13am
Quoting FrankenPip
Attachment

Are you guys going to let the rat beat you?

Frankenpip,

Hopefully Hayseed will create a rat-trap....


Kostas
  • #17
  • Aug 25, 2009 1:15am Aug 25, 2009 1:15am
Quoting LittleLuca
It buys too many false signals... when the price is jumping up and down it buys and sells too much!! Needs a trending idea which is contra to the whole methodology... any ideas?
LL,

This is why I recommended the following features (post#1):
1) Able to adjust size of TP, SL, and a trailing TP
2) Able to choose only long trading(blue trains), only short (red trains) or both trains...
3) If easy to program, pick the hours of trading (e.g. 6-17 GMT)


This way you can leave it on for specific time and to a specific direction (for example, you judge that the trend is long so you make the EA trade for 2 hrs only long, etc..)

Kostas
  • #18
  • Aug 25, 2009 8:37am Aug 25, 2009 8:37am
hey kostas and pardy..... after rereading franks deal i believe your correct, he suggests entering while the bar is unfinished.....

if that's the case, the coloring of the bars is doing nothing more than misspainting the true live picture..... of course it's painting the historical picure correctly, but then so does the zigzag.....

look at the latest picture he has posted..... it's easy to see, we all want to see, the trade frank is speaking of..... but what about the equally valid short trade just prior to the long trade.... the ea will not overlook it, nor a few others on that chart.... you will get whacked so often you'll loose confidence.....

if your going to use unfinished bars in this situation, odds are it will manual trading only...... not sure of the outcome......h
to trade and code, keep both simple... no call to impress....h
  • #19
  • Aug 25, 2009 8:49am Aug 25, 2009 8:49am
Quoting hayseed
look at the latest picture he has posted..... it's easy to see, we all want to see, the trade frank is speaking of..... but what about the equally valid short trade just prior to the long trade.... the ea will not overlook it, nor a few others on that chart.... you will get whacked so often you'll loose confidence.....
Actually when I look at the chart I see winning short trades according to the rules. But a rule from this recent post by FrankenPip should be incorporated into the ea because it is a logical trade filter that will increase the success on any trade setup.
  • #20
  • Aug 25, 2009 8:59am Aug 25, 2009 8:59am
Quoting Pardy
Simple way to look at it is, wherever a red or blue candle closes, a trade is taken in the opposite direction immediately at the touch of the upper/lower grid line IN THE GRID WHERE THE SIGNAL CANDLE CLOSED, in the expectation that it will upon crossing the upper/lower grid, continue for 5 pips.
HI Pardy:

Only trade in one direction. Do not have the EA trading both ways at the same time in the same account. The rat will beat you.

Also, make sure the EA does not over trade. Set a daily or session goal, hit it, quit.
If you only trade long, then you can't always be wrong.
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