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A Simple London Breakout

  • #301
  • Apr 20, 2010 3:08pm Apr 20, 2010 3:08pm
thx Sangmane, i appreciate you giving the code snippets.

I tried backtesting Steve's EA with MT4's-tester, but it took sooooooooooo long just to get over a few days that i cancelled it...
is this some kind of MT4 flaw ?

If we are going to look for the best inputs, it will take years before we find the "optimal" settings... and we would of course do that for many pairs...
Is there any other way to reliably and efficiently backtest and optimize an EA ?

(ok, another programming-related question... sorry )
  • #302
  • Apr 20, 2010 4:43pm Apr 20, 2010 4:43pm
Man, you guys and all this code being thrown around is making me dizzy! I've updated Steve's EA in the first post.

squalou, I really like what you've done with the indicator. The box color when the box size is too big is a plus and especially adding the pips on the stop levels and the profit targets. I will make the few changes to it listed below and replace the code on the first London Breakout indicators in post #1 and also add new templates. Now remember, the box times in the templates are based on GMT +0 so be sure to adjust them to the proper broker's time.

Changed:

1) Change default time to GMT +0 time of 03:00 and 06:00, you can make your broker adjustments from there.

2) I'm not sure what the SessionEndTime parameter entails, but I set it to 03:00 which is right at the start of a new session, which is normally when I would close all open trades.

3) Increase the spacing between the price and the pips on the stop levels and profit target levels so it's not so hard to distinguish

4) Removed the FiboColor input parameter because, well, it just doesn't do anything.

5) Changed the BoxColorNOK input (color of the box when greater than MaxBoxSizeInPips) to Red as I would like to see that stand out and really come over as a big Red flag (pardon the pun)
  • #303
  • Apr 20, 2010 6:20pm Apr 20, 2010 6:20pm
Downloaded latest version...


You guys are simply fantastic....

Just dont forget to get sleep and eat there...


Thanks to you all .
  • #304
  • Apr 20, 2010 6:31pm Apr 20, 2010 6:31pm
My avatar says it all!
  • #305
  • Apr 20, 2010 9:12pm Apr 20, 2010 9:12pm
Quoting sangmane
Hi kijkij,

Your username is unique. It forms triangle on keyboard layout
You also did not observe my Avatar!

Quoting sangmane
simple routine for calculate the last number of successive losses:
Inserted Code
int LossesCount()
  {
    int Cnt=0;
    for(int i = OrdersHistoryTotal()-1; i>=0; i--)
    {
      OrderSelect(i,SELECT_BY_POS,MODE_HISTORY);
      if(OrderProfit()>0) break;
      Cnt++;
    }
    return(Cnt);
  }
Tonight I was thinking about this point on my bed and I came with just same idea. Same minds here
  • #306
  • Apr 20, 2010 9:21pm Apr 20, 2010 9:21pm
Quoting kijkij
You also did not observe my Avatar!



Tonight I was thinking about this point on my bed and I came with just same idea. Same minds here
Yes but working this into multi-pairs might be difficult, hence the reason Steve was trying to use GlobalVariables.
  • #307
  • Apr 20, 2010 11:41pm Apr 20, 2010 11:41pm
Alright, results for Tuesday!

Eur/Usd was the big key as we are starting out tonight with a multiplier of 13 after 3 losses to end last night. We started out with an initial loss of -46 pips (which I'm sure those who are watching the martingale aspect of this are getting a little nervous), but backed that up with a +35 pip winner, finally!

No Martingale

-46
+35 =
-11 pips

With Martingale Multiplier

-598 (-46 x 13)
+1190 (+35 x 34) =
+592 pips

We'll start out fresh tonight with no multipliers.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 89 KB
  • #308
  • Edited 11:59pm Apr 20, 2010 11:45pm | Edited 11:59pm
Gbp had an initial winner of +45 pips then price retraced back to our entry. I thought we were going to see a full reversal here but price stalled and we closed this out at +14 pips at 04:00.

No Martingale

+45
+14 =
+59 pips

With Martingale Multiplier

N/A

 We'll start out fresh tonight with no multipliers.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 86 KB
  • #309
  • Edited 11:59pm Apr 20, 2010 11:48pm | Edited 11:59pm
Usd/Jpy was a basic small trade tonight for +18 pips.

No Martingale

+18 pips

With Martingale Multiplier

N/A

We'll start out fresh tonight with no multipliers.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 89 KB
  • #310
  • Apr 20, 2010 11:53pm Apr 20, 2010 11:53pm
Eur/Jpy played out a little bumpier, but very positive overall. We started out with 2 strong trades of +40 pips each, then ran into a small reversal entry which we we luckily able to close out for only -5 pips at 04:00.

No Martingale

+40
+40
-5 =
+75 pips

With Martingale Multiplier

N/A

We'll be starting with a multiplier of 2 for tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 94 KB
  • #311
  • Apr 20, 2010 11:55pm Apr 20, 2010 11:55pm
thanks for the system.

this method reminds me of an old friend who used to trade with me, a little while back. its legit and it works. he'd call it the london crunch. ahh memories.
  • #312
  • Edited Apr 21, 2010 12:18am Apr 20, 2010 11:58pm | Edited Apr 21, 2010 12:18am
Quote
thanks for the system.

this method reminds me of an old friend who used to trade with me, a little while back. its legit and it works. he'd call it the london crunch. ahh memories.
Your welcome. Breakouts are pretty simple and basic strategy to understand, hence their popularity. I bet there are probably a 100+ variations of this type of breakout on the web if you searched hard enough.
___________________________________________________________________________________________________________________________________

Usd/Chf ended up the same way the Eur/Usd did with an initial loss of -35 pips followed with a winner of +26 pips. With the two losses we ended up with yesterday, we started out with a multiplier of 5.

No Martingale

-35
+26 =
-11 pips

With Martingale Multiplier

-175 (-35 x 5)
+338 (+26 x 13) =
+163 pips

We'll be starting fresh again tonight with no multipliers.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 89 KB
  • #313
  • Apr 21, 2010 12:27am Apr 21, 2010 12:27am
Sangmane's ea is tracking identically with your trades merl with only the following exception.

For reentrys, it waits until price gets back into the box then pops back out for a trade to be taken, where your's just takes it as soon as price taps the initial entry again. Curious of whether results this way are better/worse. Something to check out I guess.

But otherwise, with a small tweak to the box end time, and final trade close time, its matching up perfectly. Just figured i'd let you know.
  • #314
  • Apr 21, 2010 1:03am Apr 21, 2010 1:03am
Hey Guys...

Need a help here..
I am new to this "robot" thing.

Tried to load steve's Ea inside FXOpen demo...
Done with the setup and everything..

Everything was ok for few minutes.

But suddenly I got the message

"Trading was disabled by Criminal Pillock. Please wait him to get out of bed"

Is this a problem with my settings ?
Or this script will not work with this broker?
Or should I have to wait for this criminal to wake up like it said?
Last Candle show 9.00 in FxOpen time. It's GMT +3.

It's near London breakout...by the way. If I fail this now I have to wait for tomorrow to try this script again..



Thanks in advance...
  • #315
  • Apr 21, 2010 2:23am Apr 21, 2010 2:23am
Quoting NiceGuy
Hey Guys...

Everything was ok for few minutes.

But suddenly I got the message

"Trading was disabled by Criminal Pillock. Please wait him to get out of bed"
In the code, this comes from the IsTradeAllowed() function being false.
MetaEditor help shows the function as:
"bool IsTradeAllowed()
Returns TRUE if the expert is allowed to trade and a thread for trading is not occupied, otherwise returns FALSE."

Maybe you have to select "live trading allowed" under your expert properties common tab.

cheers scalpz
Target 2 : Stoploss in the green
  • #316
  • Apr 21, 2010 2:26am Apr 21, 2010 2:26am
Quoting scalpz
In the code, this comes from the IsTradeAllowed() function being false.
MetaEditor help shows the function as:
"
bool IsTradeAllowed()
Returns TRUE if the expert is allowed to trade and a thread for trading is not occupied, otherwise returns FALSE."

Maybe you have to select "live trading allowed" under your expert properties common tab.

cheers scalpz

Thanks man.. really great help... but a little late...

Thanks!!!!
  • #317
  • Apr 21, 2010 3:33am Apr 21, 2010 3:33am
Quoting NiceGuy
Thanks man.. really great help... but a little late...

Thanks!!!!
Well maybe not too late with a little hindsight. 3 of my trades have been triggered, but are now looking bad.
Now would be a good time to setup the ea & have the pending trades loaded and waiting to trigger from now (0815gmt).

Note: I have gbpjpy & gbpusd with oversize boxes.

cheers scalpz
Target 2 : Stoploss in the green
  • #318
  • Apr 21, 2010 3:54am Apr 21, 2010 3:54am
Quoting kijkij

Tonight I was thinking about this point on my bed and I came with just same idea. Same minds here
Cheers guys. Much appreciated.

  • #319
  • Edited 4:18am Apr 21, 2010 4:06am | Edited 4:18am
Hello there...Scalpz

Good luck with your trading...!

Btw... I trade this london breakout manually with 8 pairs. Yesterday was 7 pairs. Yess... 8 Pairs...LIVE... Dont worry I know what I am doing.

I always went with Steve's Opinion.. "Backtesting is useless" and the only way to be sure that a strategy worth or not is put it to live..
Have tested this strategy 6 days now... Looking Good so far.

This strategy helped me revived USD 234 in my long forgotten account into almost triple its worth only in 5 days...
I just need to learn its weakness in different pairs before putting it in my main account.

These guys are amazing...

Thanks again

PS: Correction... actually it's not 8... but 9 pairs today...
  • #320
  • Apr 21, 2010 4:54am Apr 21, 2010 4:54am
Please, I want somebody to help me with the latest version of both the indicator and Steve's EA.

I am now confused with the variuos indicators posted on the thread everyday.

I downloaded v.3 and the buy stop snd sell stop were switched.

I think v.3 of the indicator presents the system well.
In view of these changes, I therefore ask for the current Version so as to start testing the strategy on my account.
the Lines are fallen unto me in pleasant places
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