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scooby-doo BOJ JPY pairs trading robot

  • #4,661
  • Jan 18, 2010 7:23am Jan 18, 2010 7:23am
Yes I see the problem, sorry bout that chief
  • #4,662
  • Jan 18, 2010 7:26am Jan 18, 2010 7:26am
No probs.

  • #4,663
  • Jan 18, 2010 7:30am Jan 18, 2010 7:30am
Quoting scooby-doo
OB and OS.

This is not strictly true Steve and maybe why things dont always go to plan. I think we need to makesure the lower TF candle closes below or above, so...

double H04 = iRSI(Pairs[b],240,RSI,PRICE_CLOSE,0);
double H01 = iRSI(Pairs[b],060,RSI,PRICE_CLOSE,0);
double M15 = iRSI(Pairs[b],015,RSI,PRICE_CLOSE,1);


Scoobs.
I have re-use an old ea I coded few months ago and change the signal to open trades using Scoob 3Tf Rsi method
For Rsi H04 and Rsi H01 I use the actual candle
For Rsi M15 I check the previous candle and actual candle. example :
double rsi_now =iRSI (Symbol(),PERIOD_M15, 8,PRICE_CLOSE,0);
double rsi_prev =iRSI (Symbol(),PERIOD_M15, 8,PRICE_CLOSE,1);
double rsiTFHigher =iRSI (Symbol(),PERIOD_H1,8,PRICE_CLOSE,0);
double rsiTF2Higher =iRSI (Symbol(),PERIOD_H4,8,PRICE_CLOSE,0);
double SMA_upTF =iMA (Symbol(),PERIOD_H1,200,0,MODE_SMA,PRICE_MEDIAN,0);
double SMA_2upTF =iMA (Symbol(),PERIOD_H4, 200,0,MODE_SMA,PRICE_MEDIAN,0);
if(Close[0]>SMA_2upTF && SMA_upTF>SMA_2upTF && SMA_ThisTF>SMA_upTF && rsi_prev<25 && rsi_now>=25 && rsiTFHigher<30 && rsiTF2Higher<30+1) return( 1);//Oversold in UpTrend => BUY
if(Close[0]<SMA_2upTF && SMA_upTF>SMA_2upTF && SMA_ThisTF<SMA_upTF && rsi_prev>75 && rsi_now<=75 && rsiTFHigher>70 && rsiTF2Higher>70-1) return(-1);//Overbought in DownTrend=> SEll

for the Rsi of the actual Tf, I think it's better to wait it come back from OB/OS levels, so ckeck rsi_previous in OB/OS levels and rsi_now not in OB/OS levels
  • #4,664
  • Jan 18, 2010 8:07am Jan 18, 2010 8:07am
A few points.

Timeframes

If you have found a way to trade the lower TF's consistently with a risk/reward ratio >= 1:1 then stick with it.

Trading higher TF's is easier and means you dont have to be stuck to your screen 24/5.

Just because I have never found a way to trade them does not mean that someone else wont.

Pattern recognition

I am aware that some brokers now offer this in some basic form. However, unless you can see the bigger picture, outside of your broker then they dont really help that much.

Overbough/Oversold

This is just another type/form of support and resistence trading. It is/has been used in forex, stocks and commodities since automation of the global markets.

General

The ideas I put forward (and steve willingly codes) are ones used by global trading floors. Obviously not all of them will work as they should due to the constraints of retail forex.

Unless you can see what pending orders there are at interbank level then you are with all best intentions trading blind and relying on markerts coming back to or moving away from their daily support/resistence levels.

A currency can potentially remain OB/OS for days, weeks, months etc so dont always just assume they will return to >= breakeven.

If a currency becomes re-adjusted due to interest rate changes then you will need to close it asap as it will never (short/medium term) show a profit if you find yourself on the wrong side of the trade.

Scoobs
  • #4,665
  • Jan 18, 2010 8:52am Jan 18, 2010 8:52am
Quoting scooby-doo
A few points.

Timeframes

If you have found a way to trade the lower TF's consistently with a risk/reward ratio >= 1:1 then stick with it...
Pattern recognition...Overbough/Oversold...

General

The ideas I put forward (and steve willingly codes) are ones used by global trading floors. Obviously not all of them will work as they should due to the constraints of retail forex...If a currency becomes re-adjusted due to interest rate changes then you will need to close it asap as it will never (short/medium term) show...
Thank you very much indeed for your reply. I think that everyone in forexfactory should read all your postings to get a better insight and understanding of forex market.
If anyone has found a way to trade lower time frames consistantly maybe they could share it with us
Kind regards
P.S. So far Steve`s latest EA (Dog`s B@@**ks) seem to be doing OK.
  • #4,666
  • Jan 18, 2010 8:55am Jan 18, 2010 8:55am
Quoting astral77
Thank you very much indeed for your reply. I think that everyone in forexfactory should read all your postings to get a better insight and understanding of forex market.
If anyone has found a way to trade lower time frames consistantly maybe they could share it with us
Kind regards
P.S. So far Steve`s latest EA (Dog`s B@@**ks) seem to be doing OK.

Concur, thank you Scooby and Steve
  • #4,667
  • Jan 18, 2010 9:19am Jan 18, 2010 9:19am
Quoting zznbrm
Thank you for these comments!

After extensive due diligence, I have come to the conclusion that the OB/OS methods (as presented here) are not for me (a retail trader). The performance during big one-way trends is the most worrisome. I wish you all good luck with these methods.

However, some of scooby's ideas have led me to a very promising method that I will go live with soon. I may create a journal if anyone is interested.

Scooby and Steve - thanks for you efforts!
Did you fully understand that the latest robot trades with the overall trend when they become OB or OS ?
  • #4,668
  • Edited 9:54am Jan 18, 2010 9:31am | Edited 9:54am
Quoting scooby-doo
A few points.

Timeframes

If you have found a way to trade the lower TF's consistently with a risk/reward ratio >= 1:1 then stick with it.

Scoobs

Scoobs, can you speak us a bit more about risk/reward ratio?
1:1 is the lowest acepptable or you agree with people who say that 1:3 is the lowest acceptable?

I think it depends on how consistent is your trading strategie,
tanks a lot for sharing your knowledge, sorry about my english.
ps. I paid expensive course and didn´t learn nothing compare whith this thread...
tanks again
  • #4,669
  • Jan 18, 2010 9:37am Jan 18, 2010 9:37am
Quoting scooby-doo
Did you fully understand that the latest robot trades with the overall trend when they become OB or OS ?
Of course.
  • #4,670
  • Jan 18, 2010 11:54am Jan 18, 2010 11:54am
Scooby-doo Dog's Bollocks trading robot in Post 1 states: The robot goes on any chart; I suggest GJ, as this tends to see the most action. Time frame does not matter; the robot takes care of this.

Does the chart pair the EA gets implemented on really matter? The EA trades any of the pairs specified in the inputs, regardless of the current chart, right?

Cheers,
Ed
  • #4,671
  • Jan 18, 2010 12:00pm Jan 18, 2010 12:00pm
Quoting enewbold
Scooby-doo Dog's Bollocks trading robot in Post 1 states: The robot goes on any chart; I suggest GJ, as this tends to see the most action. Time frame does not matter; the robot takes care of this.

Does the chart pair the EA gets implemented on really matter? The EA trades any of the pairs specified in the inputs, regardless of the current chart, right?

Cheers,
Ed
The reason for putting it onto the GBPJPY chart is because this currency usually always gets a tick 24/5 unlike some others which dont update that often.

Scoobs.
  • #4,672
  • Jan 18, 2010 12:02pm Jan 18, 2010 12:02pm
Quoting scooby-doo
The reason for putting it onto the GBPJPY chart is because this currency usually always gets a tick 24/5 unlike some others which dont update that often.

Scoobs.
Aha... got it. Thanks for the clarification.

Ed
  • #4,673
  • Jan 18, 2010 12:37pm Jan 18, 2010 12:37pm
Probably we should add something like wait for indicators, because I loaded it on chart and it instantly opened trades without rsi update on display.

Thanks
  • #4,674
  • Jan 18, 2010 12:42pm Jan 18, 2010 12:42pm
Quoting awk
Probably we should add something like wait for indicators, because I loaded it on chart and it instantly opened trades without rsi update on display.

Thanks
Yes, I noticed this happening too.
  • #4,675
  • Jan 18, 2010 12:49pm Jan 18, 2010 12:49pm
Quoting awk
Probably we should add something like wait for indicators, because I loaded it on chart and it instantly opened trades without rsi update on display.

Thanks
That could simply be a display thing. There is a call to DisplayUserFeedback() from within init(). The indicators are first read from within DisplayUserFeedback(), so this could cause a delay in displaying the info.

After that, the trade decision process is in start() and is preceeded by calls to the indi's concerned.

Was the trade correct according to the method? If so, there is no problem. If not, then this needs looking at.

  • #4,676
  • Jan 18, 2010 12:52pm Jan 18, 2010 12:52pm
Steve,

Just wondering if the max trades allowed on the DB bot included hedge trades? Might be better if that wasn't the case.
  • #4,677
  • Jan 18, 2010 12:59pm Jan 18, 2010 12:59pm
probably not, since it opened 6 EURCAD buys.
  • #4,678
  • Jan 18, 2010 1:09pm Jan 18, 2010 1:09pm
There are updates to the two Opposite Position versions in post 1. I noticed today that the robot was not including hedge trades in its basket upl calculations, so positions could be closed prematurely.

 

  1. scooby-doo BOJ trading robot opposite positions.mq4 uses the original step-by-step partial trading.
  2. scooby-doo BOJ trading robot opposite positions V1.mq4 uses the more aggressive 50% hedge of the entire position.

I am sticking with this robot because I think it has potential.

  • #4,679
  • Jan 18, 2010 1:18pm Jan 18, 2010 1:18pm
Steve> and it happened again, any idea what may be the reason?
Thanks
  • #4,680
  • Jan 18, 2010 1:23pm Jan 18, 2010 1:23pm
Quoting awk
probably not, since it opened 6 EURCAD buys.
Nice one awk. This sent me looking for the cause.

In separating the trade tally from the trade detection code, I left a vital line out of the detection code - the loop was in place but not the obligatory if (!OrderSelect(cc, SELECT_BY_POS) ) continue;

The fix is in post 1. Sorry guys, but this is an essential download.

Nearly there. Shouldn't be to many more bugs.

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