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4H Box Breakout

  • #4,361
  • Sep 30, 2009 1:27pm Sep 30, 2009 1:27pm
Quoting shiko
yeah, Pharoah, you get it quick. put it also volatility differences and traders; mind set before close...
now, who can put it into EA and back test
I can have it added as an optional thing to the one I'm having developed using my smartstop system as an extern "Reducebox" set as true or false.
  • #4,362
  • Sep 30, 2009 1:31pm Sep 30, 2009 1:31pm
Quoting Pharoah
I can have it added as an optional thing to the one I'm having developed using my smartstop system as an extern "Reducebox" set as true or false.

Translation please
  • #4,363
  • Sep 30, 2009 1:34pm Sep 30, 2009 1:34pm
i made quick observation, last candle is usually very small. last week last 4h box based on last 4h candle was only 75-80 pips. on g/j.
  • #4,364
  • Sep 30, 2009 1:46pm Sep 30, 2009 1:46pm
Quoting PiPsAddict
It's sounds awesome Pharoah.... but I have no Idea what you just said.

I probably didn't get enough sleep last night, which has severely impaired the Einstein living between my ears

I don't know if there's another way of explaining it differently, but could you try..... maybe some pictures....... ya I like pictures....

Attached Image (click to enlarge)
Click to Enlarge Name: Hugeboxcloselow.jpg Size: 13 KB


In this image, the 1st huge candle closed and formed the box (black) near the low of the box. Because of this, this signifies that no news event or holiday caused the move, so we adjust the box size to 1/3 of the original box, and add 1/3 to the low of the bar, and add 1/3 to the low of the bar, this will create the new box (green).

Attached Image (click to enlarge)
Click to Enlarge Name: Hugeboxclosemiddle.jpg Size: 13 KB


In this image, the 1st 4H huge candle closed and formed the box (black) near the middle of the box, because of this, this signifies that it could have been news, or might not have been that caused the move, as a result, we add 1/3 box size to the price, and subtract 1/3 box size from the price, this is our new box (green)

Attached Image (click to enlarge)
Click to Enlarge Name: Hugeboxclosehigh.jpg Size: 12 KB


In this image, the 1St 4H Huge candle closed and formed the box (black) near the top of the box, because of this, this signifies that news or holiday did cause the move, as a result, we add 1/3 box size to the high, and subtract 1/3 box size from the low, this forms out new box (green)
  • #4,365
  • Sep 30, 2009 2:05pm Sep 30, 2009 2:05pm
Quoting Pharoah
Attachment

In this image, the 1st huge candle closed and formed the box (black) near the low of the box. Because of this, this signifies that no news event or holiday caused the move, so we adjust the box size to 1/3 of the original box, and add 1/3 to the low of the bar, and add 1/3 to the low of the bar, this will create the new box (green).

Attachment

In this image, the 1st 4H huge candle closed and formed the box (black) near the middle of the box, because of this, this signifies that it could have been news, or...
Okay... that was good... now give us a live example using this weeks candle/box. I'm still having trouble trying to figure whether your adding/subtracting 1/3 of box size to highs, lows, opens or closes.

Also, are TP's set at 1/3 of the original box size (black) or are they set at 100% of the new box size (green)?

Forgive me... but my heads in the fog today.
Addicted and proud of it!
  • #4,366
  • Sep 30, 2009 2:11pm Sep 30, 2009 2:11pm
Quoting Pharoah
Attachment

In this image, the 1st huge candle closed and formed the box (black) near the low of the box. Because of this, this signifies that no news event or holiday caused the move, so we adjust the box size to 1/3 of the original box, and add 1/3 to the low of the bar, and add 1/3 to the low of the bar, this will create the new box (green).

Attachment

In this image, the 1st 4H huge candle closed and formed the box (black) near the middle of the box, because of this, this signifies that it could have been news, or...
Pharoah, this is something different.
what i mean is. we use 4H last candle of the week before market close to calculate the box size. then when market opens on Sunday orders are set according to last Friday 4H candle. now, Ace was mentioning something he noticed which had better R:R ratio. it might be what Ace meant.
i can back test starting from January 2008 manually and slowly. but i am sure EA can do it better and for a longer period.
i
  • #4,367
  • Sep 30, 2009 2:12pm Sep 30, 2009 2:12pm
Quoting PiPsAddict
Okay... that was good... now give us a live example using this weeks candle/box. I'm still having trouble trying to figure whether your adding/subtracting 1/3 of box size to highs, lows, opens or closes.

Forgive me... but my heads in the fog today.
This is something I will have test.

I must note, this is something I came up with in a matter of seconds, and will require extensive testing to determine hoe to apply this method.
  • #4,368
  • Sep 30, 2009 2:13pm Sep 30, 2009 2:13pm
Quoting PiPsAddict
Okay... that was good... now give us a live example using this weeks candle/box. I'm still having trouble trying to figure whether your adding/subtracting 1/3 of box size to highs, lows, opens or closes.

Forgive me... but my heads in the fog today.
pipsaddict,
Pharoah is talking Chinese and i am talking German. we are talking different things.
  • #4,369
  • Sep 30, 2009 2:14pm Sep 30, 2009 2:14pm
Quoting shiko
Pharoah, this is something different.
what i mean is. we use 4H last candle of the week before market close to calculate the box size. then when market opens on Sunday orders are set according to last Friday 4H candle. now, Ace was mentioning something he noticed which had better R:R ratio. it might be what Ace meant.
i can back test starting from January 2008 manually and slowly. but i am sure EA can do it better and for a longer period.
i
No no, I know what your saying.

What I'm saying about that is when market close, and the box is formed, when market opens, the price could be 100 pips away from where it was when market closed. Because of this, the market open price could already be outside of this pre-set box from last week.

But, like I said, what I came up with was a whim creation, and needs testing, as does setting up box size on the last 8H of the week for the following week.
  • #4,370
  • Sep 30, 2009 2:15pm Sep 30, 2009 2:15pm
Quoting Pharoah
This is something I will have test.

I must note, this is something I came up with in a matter of seconds, and will require extensive testing to determine hoe to apply this method.
Absolutely... not meaning to push/hurry you on this. I just want to have clarity of the calculations so I can start charting it up and do some manual backtesting as well.
Addicted and proud of it!
  • #4,371
  • Sep 30, 2009 2:19pm Sep 30, 2009 2:19pm
Quoting PiPsAddict
Absolutely... not meaning to push/hurry you on this. I just want to have clarity of the calculations so I can start charting it up and do some manual backtesting as well.

Try this

This week example

If the Huge Candle closed near open, subtract 1/3 from the high, and set that as your new box low.

If the Huge Candle closed near the middle, Subtract 1/3 from the high, this is the new box high, add 1/3 to the low, this is the new box low.

If the Huge candle closed near the low, Add 1/3 to the low, and set this as your new box high. Test this out, this is what I'm actually going to work with for my testing.
  • #4,372
  • Sep 30, 2009 2:20pm Sep 30, 2009 2:20pm
Quoting Pharoah
No no, I know what your saying.

What I'm saying about that is when market close, and the box is formed, when market opens, the price could be 100 pips away from where it was when market closed. Because of this, the market open price could already be outside of this pre-set box from last week.

But, like I said, what I came up with was a whim creation, and needs testing, as does setting up box size on the last 8H of the week for the following week.

EAEAEAEAEAEAEAEAEAEA!!!!!!!!!
it can gap but we need to know if gaping is good or bad or % of good and bad hence back testing. it t was good gap. anyway, we do not set order before market close/ open. so, no risk. gap can be like 400 pips box. if gap is bad, so, no trading in a week when price gaped.
anyway. it must be back tested. Ace saw something. why cannot we?
  • #4,373
  • Sep 30, 2009 2:21pm Sep 30, 2009 2:21pm
and what about adding/subtracting 40-50 pips to the closing price and have a 80-100 pips box every week.

closing price +/- 50 pips: 143.50; box is 144.00 high and 143.00 low

closing price +/- 40 pips: 143.50; box is 143.90 high and 143.10 low

so simple
  • #4,374
  • Sep 30, 2009 2:33pm Sep 30, 2009 2:33pm
Quoting yonnie
and what about adding/subtracting 40-50 pips to the closing price and have a 80-100 pips box every week.

closing price +/- 50 pips: 143.50; box is 144.00 high and 143.00 low

closing price +/- 40 pips: 143.50; box is 143.90 high and 143.10 low

i am talking about box made from each week last 4h candle. the box made from it is usually small. first it would be nice to have it tested as is as if it is Ace original system/ rules but with box set from week last 4h candle and then if it is viable to start making other improvements if it worth the trouble.
  • #4,375
  • Sep 30, 2009 2:33pm Sep 30, 2009 2:33pm
of course if it gives better results than Ace original system.
  • #4,376
  • Sep 30, 2009 2:39pm Sep 30, 2009 2:39pm
Quoting shiko
EAEAEAEAEAEAEAEAEAEA!!!!!!!!!
it can gap but we need to know if gaping is good or bad or % of good and bad hence back testing. it t was good gap. anyway, we do not set order before market close/ open. so, no risk. gap can be like 400 pips box. if gap is bad, so, no trading in a week when price gaped.
anyway. it must be back tested. Ace saw something. why cannot we?
Shiko, don't sell yourself short, you have made just as many notable contributions to this thread than anyone else here. And I believe we both are onto something huge. I guess it's a contest Who's will preform better
  • #4,377
  • Sep 30, 2009 2:40pm Sep 30, 2009 2:40pm
Quoting yonnie
and what about adding/subtracting 40-50 pips to the closing price and have a 80-100 pips box every week.

closing price +/- 50 pips: 143.50; box is 144.00 high and 143.00 low

closing price +/- 40 pips: 143.50; box is 143.90 high and 143.10 low

so simple
This is essentially exactly what I suggested does. But it takes into consideration the location of the current price.
  • #4,378
  • Sep 30, 2009 2:42pm Sep 30, 2009 2:42pm
Quoting shiko
of course if it gives better results than Ace original system.
I wonder if Ace is the member who is listed as "Invisible" at the bottom of the page where it lists which traders are viewing the thread?
Addicted and proud of it!
  • #4,379
  • Sep 30, 2009 2:47pm Sep 30, 2009 2:47pm
Quoting PiPsAddict
I wonder if Ace is the member who is listed as "Invisible" at the bottom of the page where it lists which traders are viewing the thread?
lol
  • #4,380
  • Sep 30, 2009 2:55pm Sep 30, 2009 2:55pm
Quoting Pharoah
lol

it is me
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