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Attachments: My Pin Scouter Indicator for use with Pin Trading
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My Pin Scouter Indicator for use with Pin Trading

  • #21
  • Edited 11:09am Feb 28, 2010 8:55am | Edited 11:09am
hi kosta, alous,

well, thank you for sharing this good idea... i will like this ea... pin bar absolutely work in stock...

i will testing it.......


do you think it will work when open position and it change direction just close it at break even and open other direction position? i will not put a Big SL because most of the time pin bar, it show there is new direction is heading....

when the one candle before pin is blue=sell or visa versa and confirm it with both EMA or MA .

alous, is there any way there is option the user can select using MA or EMA....

using EMA cross to MA instead EMA to EMA or MA To MA...and an option aplly to median price? instead of closing?

thank you for sharing the ea and indicator alous... it is awesome this candle stick opening....
  • #22
  • Feb 28, 2010 11:49am Feb 28, 2010 11:49am
Thanks Kostas.

I have inserted the ADX Period Input.

If you wish to change the TimeFrame go to iADX in code and change PERIOD_M5 to whatever timeframe you wish. e.g. PERIOD_M15, PERIOD_H4 etc (the letters should be capitalized).

I will try now to make it enter a trade conservatively. It should open pending orders upon detection of the pin that should be erased if not hit withing the next candle (is this right?)

By cleared the pin you mean the high for a long pin and the low for a short pin?

L.A>
Attached File(s)
File Type: mq4 Pin Trader EA V1.1.mq4   13 KB | 1,641 downloads
Singularity is near....
  • #23
  • Feb 28, 2010 12:49pm Feb 28, 2010 12:49pm
Quoting alouisos
Thanks Kostas.

I have inserted the ADX Period Input.

If you wish to change the TimeFrame go to iADX in code and change PERIOD_M5 to whatever timeframe you wish. e.g. PERIOD_M15, PERIOD_H4 etc (the letters should be capitalized).

I will try now to make it enter a trade conservatively. It should open pending orders upon detection of the pin that should be erased if not hit withing the next candle (is this right?)

By cleared the pin you mean the high for a long pin and the low for a short pin?

L.A>
The pinbar is also called a pinocchio because its nose points to the wrong direction (lying like pinocchio). So a short pinbar is a bar with its nose pointing up and the conservative trade is when the next bar clears the bottom of the pinbar. It is also valid if the bar after the next clears the pinbar but no more after that. For a long pinbar the nose points downward and the trade is entered when the next bar clears its top (or the bar after the next but no more).
Hope this helps.

Kostas

P.S. 3. Can you comment on what CloseOnOpposite, UseCloseSignal, OrderTypeBuy1, OrderTypeSell1 do?
  • #24
  • Feb 28, 2010 1:25pm Feb 28, 2010 1:25pm
Quote
P.S. 3. Can you comment on what CloseOnOpposite, UseCloseSignal, OrderTypeBuy1, OrderTypeSell1 do?

Sorry, I haven't saw your question before.

The CloseOnOpposite, UseCloseSignal are an internal algorihtm to close the opened trade after it is opened( if set to true). I used MA(21)=MA(50) as a closing signal but it is open to any other suggestions.

OrderTypeBuy1--> Buy when a pinbar appears and Ma(21)>MA(50) & ADX(14)>20

and OrderTypeSell1--> Sell when a pinbar appears and MA(21)<MA(50)& ADX(14)>20

There is a choice to open a second order with different SL and TP and these are OrderTypeBuy&Sell2.

L.A.>
Singularity is near....
  • #25
  • Feb 28, 2010 3:00pm Feb 28, 2010 3:00pm
This is with E/U, 1hr, EMA(22)&EMA(46), SL 60, TP 100 for the last 6 months (using 1st version of EA). I think when Alexander brings us the conservative option it will improve in winning% (now at 58%).
Attached Image (click to enlarge)
Click to Enlarge Name: TesterGraph.gif Size: 6 KB
  • #26
  • Feb 28, 2010 3:27pm Feb 28, 2010 3:27pm
And this as before with the following differences: Using v1.1 of the EA (modified ADX to 1hr timeframe in the code), ADX period 20, trade hours from 8:00-13:00 (I am at GMT+2). Winning% is now at 72%.
Alexander, the trade hours represent the server hour, correct?
Attached Image (click to enlarge)
Click to Enlarge Name: TesterGraph2.gif Size: 5 KB
  • #27
  • Feb 28, 2010 4:07pm Feb 28, 2010 4:07pm
how long you been testing on mate...i have doubts it can survive 2years+ backtest but really hope it will
  • #28
  • Mar 1, 2010 2:38pm Mar 1, 2010 2:38pm
Quoting kostas1
And this as before with the following differences: Using v1.1 of the EA (modified ADX to 1hr timeframe in the code), ADX period 20, trade hours from 8:00-13:00 (I am at GMT+2). Winning% is now at 72%.
Alexander, the trade hours represent the server hour, correct?

Yes the trade hours are the server hours.

I am working now on the conservative trading of Pins. It will take me some time because of heavy schedule.

Have you done any long term backtests in any other pair?

L.A.>
Singularity is near....
  • #29
  • Edited 4:30pm Mar 1, 2010 4:07pm | Edited 4:30pm
Quoting alouisos
Sorry, I haven't saw your question before.

The CloseOnOpposite, UseCloseSignal are an internal algorihtm to close the opened trade after it is opened( if set to true). I used MA(21)=MA(50) as a closing signal but it is open to any other suggestions.

OrderTypeBuy1--> Buy when a pinbar appears and Ma(21)>MA(50) & ADX(14)>20

and OrderTypeSell1--> Sell when a pinbar appears and MA(21)<MA(50)& ADX(14)>20

There is a choice to open a second order with different SL and TP and these are OrderTypeBuy&Sell2.

L.A.>
hi L.A

thank's a lot, i know how it work this ea now....
you're EA is always promising.... and this one will be a good one too...

do you think it will work with stochastic time frame to give more probality to win? stochastic is physicology indicator for trader to see it is overbough or oversold to see reversal...

with more indicator, it less opening but it will screen opening with higher probability to win... i hope.

it is like doji or pinbar is physycology candle too, when the one candle before that is red, it show pinbar/doji=buy visa versa..... no matter is short or long doji...

you use idx time frame already.... adx is average accurate to measure middle long term than i trend or ninastep...

this is some good indicator...
Attached File(s)
File Type: mq4 vfft.mq4   3 KB | 1,613 downloads
File Type: mq4 Fft_Of_Indi Color 1.3.2.mq4   13 KB | 1,491 downloads
  • #30
  • Mar 1, 2010 4:21pm Mar 1, 2010 4:21pm
Quoting alouisos
Yes the trade hours are the server hours.

I am working now on the conservative trading of Pins. It will take me some time because of heavy schedule.

Have you done any long term backtests in any other pair?

L.A.>
Alexander,
I will wait for that version before I do more backtests. In my experience the conservative entry increases the probability of winning. Obviously, the EA already looks promising. Keep up the good work!

Kostas.
  • #31
  • Mar 2, 2010 5:02am Mar 2, 2010 5:02am
Ok guys thank you all.

I will make the conservative Pin Trader till Sunday.

Thank you Tul for the indicators. They look interesting. Fourrier transform in Forex Prices is somethink one should look into.

Till later,

L.A.>
Singularity is near....
  • #32
  • Edited 6:09am Mar 2, 2010 5:24am | Edited 6:09am
Quoting alouisos
Ok guys thank you all.

I will make the conservative Pin Trader till Sunday.

Thank you Tul for the indicators. They look interesting. Fourrier transform in Forex Prices is somethink one should look into.

Till later,

L.A.>
hi alouisos.

i think both indicator it will best to combine with the end point fast fourier transform pdf before... or this cycle indicaator
vvpt is very fast fourier transform
Attached File(s)
File Type: mq4 CycleKroufrExtremums 1.0 (2).mq4   5 KB | 1,480 downloads
  • #33
  • Mar 6, 2010 4:35pm Mar 6, 2010 4:35pm
Hey guys,

I have finally found free time to complete the conservative version of Pin Trader. (Pin Trader EA V2.0)

This versions sets pending orders at the nose of the pin when it detects it and closes pending orders if this price target is not hit within certain time in seconds.

This is the conservative trading with pins.

It is preset for 5 minute timeframe. If you want to change the timeframe you should go to code:

int CheckClosingSignal() {

if(TimeCurrent()- OrderOpenTime() >=300) return (1);
if(TimeCurrent()- OrderOpenTime() >=299) return (-1);
return (0);
}

and change the numbers 300 and 299 to the timeframe you want to test.
The numbers are in seconds so for 1 Hour TimeFrame you should set to 3600 and 3599.

You need to set slightly different numbers to the code. Sorry for this. If you test it and it has promise for profit I will find a way to hardcode an automation for this. Right now my free time is limited.

Anyway, enjoy as always.

Did not have time to backtest it.

I am waiting for your feedback and backtests to optimize it more.

L.A.>
Attached File(s)
File Type: mq4 Pin Trader EA V2.0.mq4   12 KB | 1,982 downloads
Singularity is near....
  • #34
  • Mar 7, 2010 3:52am Mar 7, 2010 3:52am
Quoting alouisos
Hey guys,

I have finally found free time to complete the conservative version of Pin Trader. (Pin Trader EA V2.0)

This versions sets pending orders at the nose of the pin when it detects it and closes pending orders if this price target is not hit within certain time in seconds.

This is the conservative trading with pins.

It is preset for 5 minute timeframe. If you want to change the timeframe you should go to code:

int CheckClosingSignal() {...
Alexander,
I couldn't get this to backtest correctly. It only picked 7 1-hr trades for a 6-month period and when I visually checked the trades they didn't correspond to pinbars.
Kostas,
  • #35
  • Mar 7, 2010 2:22pm Mar 7, 2010 2:22pm
Well guys,

I have to admit that there are a lot to know about pins.

I studied them and then I realized a lot that I didn't include in previous versions of the Pin Trader EA, like the nose the eyes etc.

Then I revised the pattern recognition system in the Pin EA.

The result is spectacular!!! Pin Trader EA V3.0 is profitable in the long term!

Not only is it profitable, but it compliant to the Forex World Cup Rules for submission to the next championship!

Look the backtest for 2009:

http://www.forexrobotscoach-louizos.....0Test2009.htm

So I am going to submit it for evaluation to the FRWC!

All those that seek to trade with Pins, I believe that it is a great trade system.

I have to thank you all for your support in this thread especially Kostas!

I started this thread with a sharing mood.

I do not want to disappoint you now that I am submiting the EA to FRWC, so for limited time I am uploading the ex4 file here for you to grab it.

In order to submit it to the FWRC I will have to remove it soon so please grab it quickly! It works in 1 Hour Timeframe.

Again thank you for your guidance and support!

L.A.>
Attached File(s)
File Type: ex4 Pin Trader EA V3.0.ex4   15 KB | 2,749 downloads
Singularity is near....
  • #36
  • Mar 7, 2010 2:35pm Mar 7, 2010 2:35pm
Quoting alouisos
Well guys,

I have to admit that there are a lot to know about pins.

I studied them and then I realized a lot that I didn't include in previous versions of the Pin Trader EA, like the nose the eyes etc.

Then I revised the pattern recognition system in the Pin EA.

The result is spectacular!!! Pin Trader EA V3.0 is profitable in the long term!

Not only is it profitable, but it compliant to the Forex World Cup Rules for submission to the next championship!

Look the backtest for 2009:

http://www.forexrobotscoach-louizos.....0Test2009.htm

So...
Alexander,
You are very welcome. Good luck in the FRWC !!
  • #37
  • Edited Mar 8, 2010 12:49am Mar 7, 2010 11:12pm | Edited Mar 8, 2010 12:49am
Quoting kostas1
Alexander,
You are very welcome. Good luck in the FRWC !!
hi alousius.

thank you for version 3... that is impressive back test 2009. good luck in FRWC

i have some question:
- there is no SL, is this closing at signal? and how about trailing? is it working after profit?
how come trailing is more bigger than take profit in default setting?
  • #38
  • Mar 7, 2010 11:35pm Mar 7, 2010 11:35pm
I tried to backtest this on eurusd & eurgbp and came up both in losses.

I dont know how you guys are getting in profit.
  • #39
  • Mar 8, 2010 3:01am Mar 8, 2010 3:01am
The last version of the EA sets stop losses at the High or Low of the Pin
(depends on trade position). That is why there is no Stop Loss in settings.

The take profit is the Low or High of the Pin plus the Take Profit in inputs.

This version works on 5 digit brokers as it is and it has been backtested with FXCM MT4 the FRWC developers edition, in 1 Hour TimeFrame for EURUSD.

I am still refining the code, the pin pattern recognition and the trading algorithm. There are some adjustments needed to improve the code.

Overall the Pin Trading concept is worthwhile the time needed to refine it because the results are very encouraging.

I will post any changes that I will make. There is a lot to be done prior submitting the EA to the FRWC.

L.A.>
Singularity is near....
  • #40
  • Mar 8, 2010 4:31am Mar 8, 2010 4:31am
Alex pinbars in the future could become targets for market maker algorithms which will render them as all traps for the retail broker.. :o just a heads up... great work here though
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