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50 pips candle system

  • #461
  • Dec 11, 2009 12:13am Dec 11, 2009 12:13am
Trade update:

another loss - 50 pips, now i'm long with 0.20 lots

My sequence until now: BE -50 -50 -50

this range is stressing the strategy...

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

Here is the script version of the RenkoRangeBars.
FX45Guy asked for it...

It's basically the same thing as the EA version...but every time that you close and reopen your MT4 you need to create a new M2 chart...
And...has not some EA feautures...like auto adjustment for 4/5 digits brokers and wicks...

Personally I use the EA version...


This file goes in th "script" folder...
Attached File(s)
File Type: mq4 RenkoRangeBarsScriptV1.0.mq4   8 KB | 534 downloads
Market is like a puzzle, YOU have to fit the pieces!!
  • #462
  • Dec 11, 2009 4:21am Dec 11, 2009 4:21am
Quoting ja5on
did u test just on playing the trend? =D
Yes play the trend. It is safer.
  • #463
  • Dec 11, 2009 5:09am Dec 11, 2009 5:09am
I've made a backtest on april 2009, which is the worst month of the year with this method.

I took logical's datas (on post 102) who had tested manually.

I found :
initial method = -300 pips
evolution = -1050 pips

So it is a very bad month, but it seems it is the only red one, all the other months (2009) seems to be green.

I think the alternative method (look at the other thread) is more secure.
avril 2009 = 1 350 pips
  • #464
  • Dec 11, 2009 5:22am Dec 11, 2009 5:22am
Quoting zebulon

I think the alternative method (look at the other thread) is more secure.
avril 2009 = 1 350 pips
More profitable at the moment for sure...but more secure I don't know...that martingale can be a problem...it doubles the lots after every loss...
Market is like a puzzle, YOU have to fit the pieces!!
  • #465
  • Dec 11, 2009 5:38am Dec 11, 2009 5:38am
Quoting Chris_B
More profitable at the moment for sure...but more secure I don't know...that martingale can be a problem...it doubles the lots after every loss...
it doubles, yes but only 2 times for both systems .
  • #466
  • Dec 11, 2009 5:42am Dec 11, 2009 5:42am
Quoting maxwell-eqtn
Yes play the trend. It is safer.
is this advice for initial method ?
  • #467
  • Dec 11, 2009 5:43am Dec 11, 2009 5:43am
Quoting zebulon
it doubles, yes but only 2 times for both systems .
Yes this is true...
When you did the backtest...have you tried to start with the other symbol?

I suppose you start always the monthly backtest with a + order...right??
What if you do the same backtest starting with -??

That strategy is sensible to this difference...expecially when you enter in a trading range...it would be interesting see the differences...
Market is like a puzzle, YOU have to fit the pieces!!
  • #468
  • Dec 11, 2009 5:49am Dec 11, 2009 5:49am
Quoting Chris_B
Yes this is true...
When you did the backtest...have you tried to start with the other symbol?

I suppose you start always the monthly backtest with a + order...right??
What if you do the same backtest starting with -??

That strategy is sensible to this difference...expecially when you enter in a trading range...it would be interesting see the differences...
Yes i always start with a +, but i did'nt test with - first, no time enough.
(sorry we are not on the good thread )
  • #469
  • Dec 11, 2009 6:11am Dec 11, 2009 6:11am
Trade update:

a new loss with 0.20 lots so -100 pips

the sequence:

BE -50 -50 -50 -100

Now I'm short with 0.30 lots SL 50 pips TP 150 pips

the more time the range lasts...the more powerful it can be the next directional move...
Attached Image (click to enlarge)
Click to Enlarge Name: trade5.gif Size: 12 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #470
  • Dec 11, 2009 6:16am Dec 11, 2009 6:16am
Beautiful range !!!
+50 pips

december :
initial method = -50 pips
evolution = 450 pips
  • #471
  • Dec 11, 2009 7:56am Dec 11, 2009 7:56am
Quoting zebulon
I've made a backtest on april 2009, which is the worst month of the year with this method.

I took logical's datas (on post 102) who had tested manually.

I found :
initial method = -300 pips
evolution = -1050 pips

So it is a very bad month, but it seems it is the only red one, all the other months (2009) seems to be green.

I think the alternative method (look at the other thread) is more secure.
avril 2009 = 1 350 pips
woah... are u still backtesting on the alternative method? i tought this work pretty fine. i find it quite intimidating to open so many lots.. make me lose confidence if i lose the 4 lots.
  • #472
  • Dec 11, 2009 8:02am Dec 11, 2009 8:02am
Thanks Chris,

Yeah, I probably won't try to use it in forward test either just for back test on the weekends in simulator etc.



Quoting Chris_B
Trade update:

another loss - 50 pips, now i'm long with 0.20 lots

My sequence until now: BE -50 -50 -50

this range is stressing the strategy...

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

Here is the script version of the RenkoRangeBars.
FX45Guy asked for it...

It's basically the same thing as the EA version...but every time that you close and reopen your MT4 you need to create a new M2 chart...
And...has not some EA feautures...like auto adjustment for 4/5 digits brokers and wicks...

Personally I use...
  • #473
  • Dec 11, 2009 8:10am Dec 11, 2009 8:10am
Quoting ja5on
woah... are u still backtesting on the alternative method? i tought this work pretty fine. i find it quite intimidating to open so many lots.. make me lose confidence if i lose the 4 lots.
I hope EA allows us to backtest both methods.

Personnally, i think alternative method is less dangerous, because all the months i have tested were positive. It seems it is not the same for 50 pips candles system in 2008.
Backtests will tell us....
  • #474
  • Dec 11, 2009 8:30am Dec 11, 2009 8:30am
actually this method if playing on a very trending market. it is very profitable. that is what i thought
  • #475
  • Dec 11, 2009 8:36am Dec 11, 2009 8:36am
Quoting zebulon
I hope EA allows us to backtest both methods.

Personnally, i think alternative method is less dangerous, because all the months i have tested were positive. It seems it is not the same for 50 pips candles system in 2008.
Backtests will tell us....
Which methot do you mean alternative? thanks
  • #476
  • Dec 11, 2009 8:38am Dec 11, 2009 8:38am
Trade Update: last trade at Break Even

sequence: BE -50 -50 -50 -100 BE
total: -250

now i'm long...again with 0.3 lots because i consider BE trades neutral...no wins nor loss..

this market sucks...with this long ranging my version of the strategy is imobilized...

let's see..but I think we will end this friday in range...
Attached Image (click to enlarge)
Click to Enlarge Name: trade6.gif Size: 9 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #477
  • Dec 11, 2009 8:44am Dec 11, 2009 8:44am
Quoting Saintsurfer
Which methot do you mean alternative? thanks
That's another thread !!
  • #478
  • Dec 11, 2009 8:47am Dec 11, 2009 8:47am
Quoting zebulon
I hope EA allows us to backtest both methods.

Personnally, i think alternative method is less dangerous, because all the months i have tested were positive. It seems it is not the same for 50 pips candles system in 2008.
Backtests will tell us....
so u meant that the 50pips candle system have alot of losses in 2008?
  • #479
  • Dec 11, 2009 9:11am Dec 11, 2009 9:11am
Quoting ja5on
so u meant that the 50pips candle system have alot of losses in 2008?
I don't know, i hope we will know the truth with the EA
  • #480
  • Dec 11, 2009 9:12am Dec 11, 2009 9:12am
Quoting Chris_B
Trade Update: last trade at Break Even

sequence: BE -50 -50 -50 -100 BE
total: -250

now i'm long...again with 0.3 lots because i consider BE trades neutral...no wins nor loss..

this market sucks...with this long ranging my version of the strategy is imobilized...

let's see..but I think we will end this friday in range...
When its in a range, when you get GR, go G next, if you hit that G, then Go Red, it works well. When it breaks out of the range you will lose 1 trade but then you can get in trending mode, GG or RR. To me, the Range is the best opportunity to make money. This works on other pairs as well. I'm testing it on 7 different pairs at the moment. Some of them 50 pip range, and some of them 40 pip range. At least this past week they all worked well
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