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scooby-doo BOJ JPY pairs trading robot

  • #5,481
  • Feb 9, 2010 12:28am Feb 9, 2010 12:28am
Quoting ForexHunter
Hernando,

Did you get the Buy and Sell mixed up? I solved the local time problem and was hoping to get a buy entrance just now, but I got a sell order. After I solved the lolcal time problem, I restarted MT4 and hoping the buy and sell timing are correct. The entrance timings are correct, but instead of sell, it does buy orders, and instead of buy orders, it does sell orders. Did you get this kind of problems?

I am going to test again. Just reboot the computer to solve this glitch.
Really. take everyones advice on here. READ THE MANUAL FOR BOJ ORIGINAL....
  • #5,482
  • Feb 9, 2010 12:42am Feb 9, 2010 12:42am
Fxtrader08,

I will see how it behaves tomorrow after I restarted the PC just now. Maybe a glitch happenened wasn't solved by just restarting MT4.
  • #5,483
  • Feb 9, 2010 1:02am Feb 9, 2010 1:02am
@Scoobs

Seems to me a Scooby 20EMA-200EMA-RSI3 like good idea. But, did you think update idea with martingale system, maybe?
If price went ageinst you (about 30-40 pisps, stoploss is on 100 pips) open with multiple factor 1.4 or 1.5 new position and take profit is now closer to actualy price. Off course we can lose more if price went to the stop loss but we have much chanse for take profit.

Sorry my english is very bad, if you are not understend i will try again.

regardes
  • #5,484
  • Edited 2:23am Feb 9, 2010 2:09am | Edited 2:23am
Quoting xman
@Scoobs

Seems to me a Scooby 20EMA-200EMA-RSI3 like good idea. But, did you think update idea with martingale system, maybe?
If price went ageinst you (about 30-40 pisps, stoploss is on 100 pips) open with multiple factor 1.4 or 1.5 new position and take profit is now closer to actualy price. Off course we can lose more if price went to the stop loss but we have much chanse for take profit.

Sorry my english is very bad, if you are not understend i will try again.

regardes
Hi all

just a quick thought from here:
Personally I don't like the idea of hedging, grids and martingale trading.
There will never be a 100% trading plan EVER. So if a trade goes wrong... well: see either the post title or my signature. Just accept it as a fact and go over to the next trade instead of trying (mostly in vain) to save the trade by all means. Sometimes it get's worse by trying to save it.
If your money management is OK then you will be fine. The important part is the MM and the W/L ratio. If these are fine... who cares about a loss.

Just my 2 pips...
"The only successful substitute for brains is silence."
  • #5,485
  • Feb 9, 2010 2:20am Feb 9, 2010 2:20am
Just fired off 9 trades, 3 closed, 5 sitting in profit, 1 in neg territory.

Good stuff.
  • #5,486
  • Feb 9, 2010 2:35am Feb 9, 2010 2:35am
Mine:
RSI2
4 trades, 1 closed lose, 3 in negative territory... no wins for now




Quoting sundog
Just fired off 9 trades, 3 closed, 5 sitting in profit, 1 in neg territory.

Good stuff.
  • #5,487
  • Edited 3:46am Feb 9, 2010 3:19am | Edited 3:46am
Hi Steve,

Maxou Basket EA :

The main idea is as simple :
When the trend is up and the pair is OS => BUY
When the trend is down and the pair is OB => SELL

To determine the trend I used various method, now I replace with Scoob idea :
SMA(20))TF1>SMA(200)TF1=> trend UP
TF1 means TF upper (I use the EA in M15, so the sma is H1)

To determine the OB/OS levels, there is 2 options :
1) use the BollingerBand RSI (Signal_Strong):
If RSI (5) [previous bar] > BB up Band and RSI (5) [current bar] < BB up Band => OB
I think that it's better than fixed levels (like 70/30) because this takes into account the volatility.
2 ) use the KG RS GROUP indic to play the stronger currency VS the weakest currency.

There is 2 interesting options :
SCALING IN : if the trade is on the good way (Profit>0) and still on the trend (TrendScaling()), add more positions every MinDistanceScal
MARTINGUALE : if the trade is on the wrong way, add a new trade if MinDistance AND a new signal occurs (Signal_Light; that is a OB/OS condition).

Closing :
Various methods :
- We close If there is a trend reversal and the trades are in profit
- We close If there is a KG opposite signal and the trades are in profit (if KG mode used)
- We close by simple profit (BigTarget)
- We close by Currency Target
- We close by Basket Target

Some parameters like Mindistance and profit target (BigTarget) are calculated with the Average Daily Range : ARD()

Because of the various input parameters, I created 3 modes for the use of the EA :
Mode 1 (NO) : normal mode, use rsi
Mode 2 (KG) : Use KG indic to open a trade
Mode 3 (YY) : only plays the JPY cross, Use KG indic to open and close a trade. (I called this Mode JPY RollerCoaster, think about BorisSchlosberg book, although his idea is to always stay in the market, here we only play in the way of the trend)
You can use each mode on a different chart, the magic numbers are differents.

Defaut parameters are for a 100k account.
There is an option to backtest the Ea : SingleSymbol . If true, we not use PairsToTrade but the chart symbol() only (interesting to test the Trailing stop, Breakeven etc...)
The Hedge method is not optimal, I used it before when the Ea was designed only for 1 pair, may be we shoud improve playing the basket.
Please fell free to use test this EA and make any suggestion. There is still some bug for sure, but overall that's works.
Attached File(s)
File Type: mq4 KG RS GROUP V1.1.mq4   18 KB | 373 downloads
File Type: mq4 Rsi_BB.mq4   2 KB | 354 downloads
File Type: mq4 Basket_503b.mq4   59 KB | 275 downloads
  • #5,488
  • Feb 9, 2010 3:31am Feb 9, 2010 3:31am
Quoting ForexHunter
Steve,

Check it out, this chart is on AUDUSD 5m using Trix Meter and USD RS strenght indicator. When the RS is OB>90 and Trix Meter shows 3 red boxes, enter on the next candle opening (usually 2 pips below the signaled candle).
Cheers. I will set this up and have a look.

  • #5,489
  • Feb 9, 2010 3:59am Feb 9, 2010 3:59am
You know the RS strenght doesn't work when there's news. I just found out. Look at this chart in 15M GBPUSD before and after the news on GBP purchasing manager index construction half an hour ago..
Attached Image (click to enlarge)
Click to Enlarge Name: gpbjpy2.jpg Size: 186 KB
  • #5,490
  • Feb 9, 2010 4:04am Feb 9, 2010 4:04am
Quoting maxou888
Hi Steve,

Maxou Basket EA :

The main idea is as simple :
When the trend is up and the pair is OS => BUY
When the trend is down and the pair is OB => SELL

To determine the trend I used various method, now I replace with Scoob idea :
[size=3][font=Times New Roman]SMA(20))TF1>SMA(200)TF1=>...
Cheers. Got it up and running on demo. That is one sophisticated bit of programming.

  • #5,491
  • Feb 9, 2010 4:13am Feb 9, 2010 4:13am
The Trix Meter I use is 5M, 15M and 60M. It is basically showing the short term trend direction of the currency, but it can be misleading because of news outcome or not knowing the RS currency strenght index. So basically knowing the news and RS currency strenght index can somehow make the Trix Meter strategy 99.9% accurate. I still need to do more observation on this strategy.

I was thinking of combining the RS currency strenght on 15M with Trix Meter entrance on 5M might work just to grab that 200 pips TP. I was also thinking of spliting the 1 entrance into 2: first at Tp20 and second at TS 20. With of course a SL:TP of 1000:1000 or 1500:1500 depending on the currency pairs volatility.

The BOJ original is superb, but the 24H BOJ is not there yet. I am also not a fan of hedging. We can make 2 EAs: USD and JPY based on the RS Index. And in the EAs, we can select the currencies pairs that are correlated. Like in JPY, just trade on EURJPY and GBPJPY. While in USD EA , we can us GBPUSD, EURUSD, CHFUSD, USDCAD.

Then again Steve, this is just an idea. Look at the EURUSD 5M chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gpbjpy2.jpg Size: 178 KB
  • #5,492
  • Edited 4:59am Feb 9, 2010 4:20am | Edited 4:59am
Quoting SteveHopwood
Cheers. Got it up and running on demo. That is one sophisticated bit of programming.

one month I am developping this Ea !
Previouly it was a martinguale system, later a grid system playing 3 TF, now a more simple system but there is still some piece of original code lurking, so it could be much more better writted but i have no time to re-code all.
This is an update : I feel that if we use the KG indic, things change fast, so we have to use the current TF SMA to determine the trend (this morning the JPY crosses are still in downtrend using UpperTF (TF1), but trend is UP using currentTF (TF0, M15 in my case) that match more the fast open/closing cycles when use Kg extreme behaviour.
Attached File(s)
File Type: mq4 Basket_503c.mq4   59 KB | 261 downloads
  • #5,493
  • Feb 9, 2010 4:39am Feb 9, 2010 4:39am
Tomorow is a JPY Bank holiday
  • #5,494
  • Feb 9, 2010 4:58am Feb 9, 2010 4:58am
Quoting maxou888
Tomorow is a JPY Bank holiday
Thanks for the reminder. I had forgotten to set the date properly.

  • #5,495
  • Feb 9, 2010 5:04am Feb 9, 2010 5:04am
Setting your SL too low on XXXJPY pairs will lead to disaster.

These pairs have a very large daily range before they return to their medium lines.

Although I have in my EA you cant really set a universal TP/SL as pairs act differently to one another.

Scoobs.
  • #5,496
  • Feb 9, 2010 5:05am Feb 9, 2010 5:05am
Quoting ForexHunter
The Trix Meter I use is 5M, 15M and 60M. It is basically showing the short term trend direction of the currency.....
Hi ForexHunter,

1 - What is the function that displays the news in the upper left corner of your chart?

2 - You give me an idea, I will add The USDRollerCoaster, EURRollerCoaster, and if I understand your trix indic, I will add it
  • #5,497
  • Feb 9, 2010 5:08am Feb 9, 2010 5:08am
Quoting scooby-doo
Setting your SL too low on XXXJPY pairs will lead to disaster.

These pairs have a very large daily range before they return to their medium lines.

Although I have in my EA you cant really set a universal TP/SL as pairs act differently to one another.

Scoobs.
Hi scoob, you speak to me ?
  • #5,498
  • Feb 9, 2010 5:11am Feb 9, 2010 5:11am
Quoting maxou888
Hi scoob, you speak to me ?
no.

Just general advice to people here.

Scoobs.
  • #5,499
  • Edited 5:29am Feb 9, 2010 5:15am | Edited 5:29am
Quoting scooby-doo
Setting your SL too low on XXXJPY pairs will lead to disaster.

These pairs have a very large daily range before they return to their medium lines.

Although I have in my EA you cant really set a universal TP/SL as pairs act differently to one another.

Scoobs.
Yes, agree. It may be better to load each chart individually with an EA with a second chart having Steve's MPTM. This way you can set different SL, TP for different pairs.

If you are going for a 'one size fits all' approach, maybe a lower TP of around 15? - we shall see
  • #5,500
  • Feb 9, 2010 5:24am Feb 9, 2010 5:24am
Here's what I have in my chart:
Attached File(s)
File Type: mq4 FFCal Scoobs.mq4   47 KB | 348 downloads
File Type: mq4 i-ParamonWorkTime.mq4   5 KB | 314 downloads
File Type: ex4 KG RS GROUP V1.1.ex4   20 KB | 331 downloads
File Type: ex4 MTF_Trix_Meter_1.1d.ex4   11 KB | 331 downloads
File Type: mq4 P4L Clock.mq4   37 KB | 287 downloads
File Type: ex4 xPivotMultiday_v1.31.ex4   30 KB | 328 downloads
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