A Simple London Breakout

Hi Mer...it's look good on GBPUSD as i adjust time 0 - 7 and fibo also...Carefull on Monday....


http://i937.photobucket.com/albums/a...23456/GBU1.jpg
http://www.forexfactory.com/[IMG...23456/GBPU.jpghttp://[IMG]http://i937.photobuc...23456/GBPU.jpg



http://www.forexfactory.com/%3Ca%20h...56/th_GBPU.jpghttp://www.forexfactory.com/[url...56/th_GBPU.jpg

Glad to see you've been able to adapt it to your needs, good for you.Just out of curiousity, what did you adjust the fibo level to??

It's for GBPUSD only.....

http://i937.photobucket.com/albums/a...23456/fibo.jpg

Dear mer071898

First off all, I would like to thank you for this Indicator... You are the Man!
Wish you live around in neighborhod.. so I can buy you drink and give you a proper thanks.

Actually I registered to this forum with only one purpose. To say thank you to mer071898

Since I am familiar with another London breakout system, I didn't bother to test it in demo account. Goin straight to live and I've found out Your indicator works better....

I downloaded in April 14 and start trading with it same day in afternoon. It earn me more than 300 pips with FXpro for 3 days....

Of course I made adjustment to the indicator to suit my trading style.

I wanna share my setting with you guys so everybody here can enjoy (and maybe got rich):

Here is:

1. My broker is FXPro and if I am not mistaken its in GMT 2 at the moment.
2. Change start Time to 07:00 End Time to 10:00
3. Adding MT4 standard Stochastic (10:3:3)
4. Adding MT4 Standard Deviation (20)
5. Adding free #AutoTrendChannel indicator. ( I can not redistribute it, you guys should ask Google to download this indicator. Just put the Bold word to Google.

I Found that The #AutoTrendChannel and your London Breakout work like wonder for me. I can figure out more easily where the Curve will go or not go. Just keep in mind that It will only show us the aproximately. Like ussual, The trend line will break on top and low. That's where Stoch and STDev come in handy.

Only put your TP inside the trendline. Most time you'll be safe and will earn pips. If the Autotrend line is too far away from the furthest Fibo Profit target, most time it will not go there. Just play safe and Forget it.

I tried not to put my order directly since to much emotion in it and just go with buy-sell stop. Yes, my friend...we are trapping real money here....



I hope I make my self clear enough. As you can see in my M15, I managed to trap the curve back and forth about 3 times in my last GBPJPY trade with this method. It earn me more than 100 Pips straight last time with GBPJPY... and I have Another trade like this in different pair.

With this method you dont have to put stops order to both side.. (Sometimes its too risky). Just put Stop Order if you predict the curve will swing that way. Learn the swing.

Just to make it simple, I will write you down some simple rules:

1. Go with the trend. Concentrate only on trendline.
2. Put Stop order only inside the trendline. Keep TP updated
3. Use Stochastic to figure out when the curve will change direction.
4. Use STD Dev to read how fast and far the Price will move, After london open, if STD Dev is pointing up mostly the price will jump. Together with Stoch they can be used to predict how far the trendline will be broken and where the bounce back will occur. Then Set your trap.
5. If you are not sure, divide your trap into smaller pieces and spread them in 10-15 pips away in front of the curve swing. Dont get too close. Let the candle breathe. Put 10-15 pips separation in between traps. So when the curve is bouncing, you are not risking more trade. Especially when the curve approaching area near middle dot-line in trendline indicator. In fact, do not make a trap that cross the middle dot line, you never know the curve will cross, bounce or stay stuck there. Stay away. Divide the traps. Be safe.
6. Don get greed. I always choose to securing smaller profits and then starting a new trap after rather than risking more with longer trade.
7. Dont get itchy finger and jumpy to start the trade directly and right away after the box is showed up. Even if the first candle is already touch one of the Fibo lines. I lost 30 pips when did this. Be calm. Read the trendline carefully and make your prediction. Wait for the candle comes into your predicted area then set your trap.
8. You can set your trap and go away but you can also maximize your earning if you check out the trade progress regularly and put another trap after the curve is bounced back by trend line.
9. I dont see the reason we can not trade some pair with this method. I think it will work with any pair (but have to check further on this). Just adjust the start time for the London box to put more curve into profitable area and you are set to go. GBPJPY is surely big earner for me. It jumps!
11. The way the curve bounces inside the trend line will tell you where it will go right from the start. Just follow the swing. Watchout for sudden trend reversal. Cancel the risky traps accordingly and put the new one in along within the trend line. That's why I favor traps. You have better chance to cancel traps whenever things become too risky without losing money. Cant do that with direct trade execution. Better to lose the predicted profit than losing your current money
12. You can minimize the risk of losing trade. Because Like I said...you can predict the swing path of the curve inside the trendline right from the start.

Here's the way how I divided my trap based the Curve swing on inside the Trend Line. It's AUDUSD, M15




(There is a small dot blue line right in the middle of the #AutoTrendChannel indicator. Maybe you can not see it in picture.)

I know it's only three days in live, have to run it in longer time to see how it will perform. But with the ease of use, safety and the fact that it brings gold for me more than usual, I can say right now that this method is surely a winner for me and yeah....I am happy.


Again, BIG THANKS to mer071898 for sharing this wonderful indicator

Any further inputs to improve is very welcome.

GIve it a try.. It's easy.





PS:
I am not a programer so I cant code. If you can make another box right next the blue box (on the right, of course). That would be fantastic. Make it in another color like yellow or something. It's for the safe zone mark to start setting up trade stop. After small observation, for me It's safer to wait 1-3 candle showed up then put the traps. That's where the new box I wanted to be.



For Wayank in Indonesia. Try this one bro... Knowledge is for share. God and People love you when you do that.

niceguy,

autotrendchannel is a linear regression channel. it repaints its channel to fit price curve. thats why your chart shows a perfect bounce at the upper/lower channel.

your rules is interesting, especially the addition of stoch and stdev to avoid loosing trade. but too many rules will make this strategy a complex london breakout.

niceguy, I also think you have a great concept., but I have to agree with sangmane, if we start adding more and more indicators to this it becomes way to complex. Secondly, I am trying to become less and less reliant on charts full of indicators mainly because of their lagging nature in relation to the current price. By all means though, you should start up a new thread and explore this more and I'm sure if it is as successful as you have been in the past few days, you'll have a strong following and even more ideas will come your way for improving your strategy.

I'll tell you the best thing to do is run this on a trading simulator and you can see how this strategy has worked in the past and you can see how the trend channel reacts over time. The one I use was given to me by Ronald Raygun and is fantastic. I've attached it for you to try out if you'd like.

Well

I know the AutotrendChannel is always repaint to fit the curve. But it's also "always" bounce the curve to other side no matter how far it breaks. I even mentioned it in my post.

That's why I said to stay away when there is a chance of curve hitting the autochanel line. Wait for the rebound and see the STD Dev to predict how strong it will rebound.

Trap the curve in the the way between Top-Middle-Low and set the TP inside the trend channel when they are moving through London's Fibo.

I know it seems to be hard with so many rules.

Just give it a try in demo, learn how they bounce back. It's simple actually... at least for past three days.

When the curve hit Autotrend it will bounce, if they cross the middle it will after the Top and low extreme. If they bounce in the middle. Stay away... and put your trap in other side.
If it keep bouncing on the middle the trap is not being activate. But if it's gets through.. the trap is there to greet the curve. Make a small trap (relative to London's Fibo), so it wont take long to hit TP.
Just trap them in the way...

I set my trap around 2 hour from the next (or so) and leave it away.

Works for me in 3 straight days.... But you were right... I always open for new idea and need to test it further.

Many thanks for the input...

Happy trading.

Here's My actual trading with USD CHF

I repaint the middle line with yellow so you gus can see.



I only managed to figure out 3 similar Traps for this one. Earn me only about 30 Pips total. But hey... It's profit.

FYI, I trade these three trades above at the same time last night. As you can see, I put the last trap in a risk (but it hits), I miss judge the curve, It bounces back In the Middle of trend line before finally hit the low ground.
This because it's near morning already. I woke up to take a piss, take a drink and put the last trap and went back to bed. ......And Smile when I wake up.

I dont see why it's not simple. Just put your trap on otherside of yellow line. Use the fibo and trend channel to help you reading the pattern.

You just put the Stop where the curve might go.
It's also suprised me that it hits almost all the time.

The only logic I know behind this is:
I didn't put all the traps at the same time. I waited one closed or I closed it and follow with other. (Some will take 2 hour some is more. ) So I always using the updated trend line whenever I put on a Trap.

I am not an expert on EA nor math expert. I am a graphic Designer and just simply trading the pattern created by the trendline in conjuction with Londons Fibo.
That's all.

Hello mer*, my comment was for whether or not a trade could actually be one, specifically for the case of programming an EA. Whether you account or not for the spread in the overall win/loss is one thing, but whether the spread is actually what makes a trade a winner (buying a short) is actually a little more you would agree (or not, whatever).

Anyhow, I feel a little reticence here and that will be my last post. Wish you the best. I will keep reading your thread and the strategy evolution as I think it's good but I will prevent from adding or commenting as you already said it all.

Best of all.
XmPh

I'm not saying that your wrong by any means or you don't have a right to express your opinion, I am just letting people know that if they feel the need to change the indicator to accommodate the spread issue that they are more than welcome to change it to suit them. Trust me, I'm open to any an all suggestions, but you understand, I have to keep control of the thread and try and keep to the basic points and everyone can go from there. I'm not here to babysit anyone, everyone here is an adult and is capable of doing a little exploring on their own.

Hi NiceGuy,

FXPRO is currently GMT +3
http://wwp.greenwichmeantime.com/tim...osia/index.htm

Bluesteele

Mer,
sorry for stupid question from NB,
How to use trade simulator in your post #206.
I really appreciate your kindhelp.

Thank you for your nice system

Here is the latest version of my robot. If you used it on demo on Friday, load up the history for the day and run the bot. You will see the display of the running totals pair by pair.

There is a new input - MaxTradesAllowedForTheDay. This allows you to limit the number of trades per day per pair. Leave this set to 0 for unlimited trades.

I need to add a bit more code to the function, so that the robot only looks at history trades for the current day. I will add this as soon as I can. For now, limit your history tab to 'today'.

Still to come:

 

1. a maximum loosing trade per pair filter. The reason for this is: if we have already had x loosing trades, then there might be something going on in the markets that we do not know about, so stepping away is a good idea.
2. Martingale.

None of this is going to happen today. Sunday is a busy teaching day for me, giving piano lessons to beautiful children in their homes, in a lovely part of rural England.

Any other coders want to chip in with the missing stuff, feel free.

For each pair, the robot calculates the totals and stores them in the variables
int open, won, lost, total;

They are declared in the general declarations section and calculated within void GetAggregatePosition(string symbol).

The robot therefore knows the aggregate position of the pair when it sends a call to void SendSingleTrade(int type, string symbol, double highest, double lowest)

The Martingale sequence would probably be most easily calculated from within the trade-sending function.

The formula Scott wants to use is: (
Total # of lots traded) + (last lot size traded) = (New lot size), so the steps would be

Initial trade .1
1 loss .2
2 losses .5
3 losses 1.3
4 losses 3.4
5 losses 8.9
6 losses 23.3

Not calculating any more - that is terrifying.

The use of Martingale needs to be optional, with a very strong warning that only the filthy, stinking rich can afford to use it.

If nothing else, even posting the mql coding algorithm for the above would be fantastically helpful, 'cos I have no idea what it is.

Remember folks, this robot might have a bug or two lying around, so it is only to be used on demo for now. It will be de-bugged by mid week.

When you first load the robot, the pair values will read zero. They are only calculated at the first tick after loadup.

Good luck this coming week.

This should help explain everything for you.

Hi Steve, Thanks for V1.0, loaded it onto an IBFX demo chart.
Earlier (like prior to box start) I only got 000's in the PairsInformation area, then 5secs later it was replaced by the "... outside trade hours" comment as expected.
Now have figures, but groups of 6 "Alert 0" going off & that lovely bell noise too - I happen to have 6 pairs (added GBPJPY).
Seems to be coming out of the Get_London_High function.
Was this put in to replaced that code from Sir Ronald ?

After an hour (& some fiddling) it seems to have stopped. So I reloaded the ea with London opens an hour later & yes, eventually got some alerts again x6. I cant work out what the start of that Get_London_High function is doing. TFH.
Have reset my LondonOpens, now its back to peacefull trading.

Oh - also couldnt find that MaxTradesAllowedForTheDay input.

I'll do another download incase I have had a brain fade while saving & copying files.

cheers scalpz

I've got the same alert problem that I can't figure out and also no sign of the Max Trades Allowed input.

So I've removed the bot and will await feedback. I've got plenty of Steves other bots running so I'm not in a rush !!!

Same here... and for a weird reason the previous version is now doing the same thing.
Must be a global variable thingy....

remove the line Alert(thour);

I think he must have left it in by accident during testing.

Many apologies guys. This is a classic example of why I do not use version numbers.

I uploaded the wrong version. Go back a few posts and re-download. This is the version I intended to post. It is trading peacefully, happily, and successfully.

Sorry Steve but is that post 174 or 213 ? Just checking before going thru the palaver of Copy/Paste and reopening MT4 etc etc several times. You know how it is. I'm not in a hurry !! Enough going on with your other bots today !!