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Nanningbob 60x90 EA

  • #3,321
  • Apr 23, 2010 9:34pm Apr 23, 2010 9:34pm
Quoting piotrek_FX
Please find attached version that I've used for my backtesting. Levels are a little different than on your indicator (about 5%), because I've used difference between highest and lowest value in the last 120 periods, so it doesn't include "screen margin".

I'm also thinking about either making major rewrite of this EA or writing one from scratch. But I must get my head around your 2.4.2 recovery system first, because I want to make this beauty fully automated
automating the 2.4.2 system maybe difficult because I use S/R lines to make a lot of my decisions of where to reenter and where to get out. In my 4H trading system I use 200 reentries as my general rule but if the S/R line is at 170 or 220 that is what I will use. However, with this system I may not have as much room for discretion because we use much smaller reentry and TP positions. Will think about that one but even if we are off some, it would probably still work.
  • #3,322
  • Apr 23, 2010 9:36pm Apr 23, 2010 9:36pm
Just to add to what I just said, however, sixths seems to get close to S/R lines so maybe it will work.
  • #3,323
  • Apr 23, 2010 9:50pm Apr 23, 2010 9:50pm
Quoting nanningbob
automating the 2.4.2 system maybe difficult because I use S/R lines to make a lot of my decisions of where to reenter and where to get out. In my 4H trading system I use 200 reentries as my general rule but if the S/R line is at 170 or 220 that is what I will use. However, with this system I may not have as much room for discretion because we use much smaller reentry and TP positions. Will think about that one but even if we are off some, it would probably still work.
Quoting nanningbob
Just to add to what I just said, however, sixths seems to get close to S/R lines so maybe it will work.
Well, I'm software developer, so I believe that everything that has clear rules can be automated
  • #3,324
  • Apr 24, 2010 12:50am Apr 24, 2010 12:50am
NZD and USD interest rate Wed. Even though changes may not happen we saw that rumors can drive the market (CAD last week). If prices go to the middle then I will play the B lines or bigger. If prices go to extremes I will play the extremes, like the Cad did last week. If price goes to extremes and then moves in the opposite direction, you dont want to reenter against the trend the same day but wait a day or two later so the entire move plays out. Notice pics for usd/cad and eur/cad. This was no change in rates, no change in rates could affect price up to 48 hours. Change in rates can send a currency on a 1-3 week run.

 

  1. imagine if they did change rates.
  2. Cad is a minor currency, USD major
  3. USD has not changed in almost 1 1/2 years
  4. If USD changes/non changes it will affect all currencies
  5. The CAD only affected itself.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd cad.gif Size: 22 KB
Click to Enlarge Name: eur cad.gif Size: 22 KB
  • #3,325
  • Edited 11:47am Apr 24, 2010 11:05am | Edited 11:47am
I have succeeded in combining the EA and the Indicator into one. The EA will now draw the lines, automatically set its own TP and Entries, and generally make you money 24/7 without any outside input needed. All you have to do is turn it on, set your lot size, multiplier and barcount, and your done!

To choose whether to trade either A or B line, simply set the ABFLAG to either 1 or 2. A setting of 1 trades the A line, a setting of 2 trades the B line. A setting of 3 will "trade the center" so DO NOT SET THE ABFLAG TO 3!!! A setting of 0 will trade only the HIGH or LOW for those who want to be very conservative.

Chart color settings are found at the bottom of the expert settings:

Plans for the future:

  1. Remove the trade hours code as I cant think of any reason to NOT trade this 24/7.
  2. Remove and then Rewrite the money management code as in its current form it appears to be completely inaccurate when it comes to lot sizing.
  3. Implement a larger font size (adjustable even)
  4. General code cleanup and commenting
  5. or I may just rewrite the entire EA from scratch

Attached File(s)
File Type: mq4 Sixth Screen EA v3.2z.mq4   24 KB | 508 downloads

EDIT: Backtesting has shown that the most profitable settings are: Max Trades = 5, Stop Loss = 1000, and Multiply = 2. I recommend everyone do a VISUAL backest using the EA in thier MT4 so they can know what to expect from this EA.
  • #3,326
  • Edited 1:52pm Apr 24, 2010 12:43pm | Edited 1:52pm
Quoting Zurathustra
I have succeeded in combining the EA and the Indicator into one. The EA will now draw the lines, automatically set its own TP and Entries, and generally make you money 24/7 without any outside input needed. All you have to do is turn it on, set your lot size, multiplier and barcount, and your done!

To choose whether to trade either A or B line, simply set the ABFLAG to either 1 or 2. A setting of 1 trades the A line, a setting of 2 trades the B line. A setting of 3 will "trade the center" so DO NOT SET THE ABFLAG TO 3!!! A setting of...
Oh wow that looks amazing, I cannot wait to try this out, will let everyone know how it works, since the manual one has been working great this could only be greater. The only reason I would see for the trading hour is if you would not want to open new trades on Friday or Sunday, since volatility might be low and gaps are closing etc, but Monday to Thursday I wouldnt see a point in not trading 247

And actually this being automated could probably be the greatest EA I have ever seen and with S R lines this has a lot of promise behind it.
  • #3,327
  • Apr 24, 2010 2:14pm Apr 24, 2010 2:14pm
Quoting gustav213
Oh wow that looks amazing, I cannot wait to try this out, will let everyone know how it works, since the manual one has been working great this could only be greater. The only reason I would see for the trading hour is if you would not want to open new trades on Friday or Sunday, since volatility might be low and gaps are closing etc, but Monday to Thursday I wouldnt see a point in not trading 247
Having watched the backtests done in visual mode, I can tell you that by not trading on fridays or by attempting to limit the trading hours, you will only shoot yourself in the foot when it comes missing trades or from the multiplier being used to recover from bad trades.

This is definantly NOT a "meddle with it" EA. How I would recommend using this EA live:

Have a MINIMUM of $2000 Available Equity PER PAIR and PER 0.01 LOTS
Set the SL to 2000
Set the Multiply to 2
Set the lots to 0.01
Set the Max Trades to 5
Set the ABFlag to 1

Turn it on and dont touch it ever again. You wont make enough money to quit your day job, but a $2000 account would produce on average $1000 profit a year. Thats 50% gain on capital invested, which is an amazing return when compared to any other investment.

Failure to have enough free equity when the trades start to go against you will result in your account hitting its margin call when the trades get up to 0.16 lots. That would result in a blown account with a quickness. Also manually closing out those loosing trades will result in failure realise a profit.

This system will actually make money even if it has a net negative pip count? How? I'll try to explain it in this example:

If the trade distance is 25 and your TP is 23, then you enter your first trade buy/sell it doesn't matter, will say its at +-0 Pips when placed:

First Trade +-0 PiPs at 0.01 Lots

You then hit the next tier of the trade system which means:

First Trade -25 Pips at 0.01 Lots
Second Trade +- 0 Pips at 0.02 Lots

You then hit the 3rd tier which means:

First Trade -50 Pips at 0.01 Lots
Second Trade -25 Pips at 0.02 Lots
Thier Trade +-0 Pips at 0.04 Lots

This trend continues until you hit tier 5

First Trade -100 Pips at 0.01 Lots
Second Trade -75 Pips at 0.02 Lots
Third Trade -50 Pips at 0.04 Lots
Fourth Trade -25 Pips at 0.08 Lots
Fifth Trade +- 0 Pips at 0.16 Lots

The trend finally reverses and you hit your Fifth Trade TP, which triggers a close on all the other trades, so this is what your pips would look like:

First Trade -77 Pips at 0.01 Lots
Second Trade -52 Pips at 0.02 Lots
Third Trade -27 Pips at 0.04 Lots
Fourth Trade -2 Pips at 0.08 Lots
Fifth Trade + 23 Pips at 0.16 Lots

For a loss of:
-158 Pips
and a Gain of
23 Pips

But then, assuming 0.01 lots = $1.00
First Trade lost $77
Second Trade lost $104
Third Trade lost $108
Fourth Trade lost $16
Fifth trade MADE $368

For a PROFIT of $63 even though you lost 158 Pips.

So ultimately my point being, that if at any point in time you interfere with the process by manually closing orders or by turning the EA on and off, etc.. then your chance of recoving your lossess is greatly diminished. It is also vitally important that you have the equity to handle the kind of drawdown that will occur under these circumstances. Also, you must have the patience to wait it out. This is a LONG TERM investment strategy and I would NOT consider it a suitable system for scalping.

You must also be prepared for the consequences if for some strange reason your stoploss does get hit, or if it takes several months for a trade to go back in your favor.
  • #3,328
  • Apr 24, 2010 4:04pm Apr 24, 2010 4:04pm
First I want to thank you for all your work. You have made some major contributions to this thread and I will be testing your EA.

 

  1. However, I already know that backtests are not accurate or valid representations of live trading. We have had this discussion before and you can find my reasons throughout the thread. The MT4 backtester is flawed and live testing is the only truth that is real.
  2. 2nd I already know what happens in martingale styled EAs. They will fail at some point with out intervention. There is no such thing as a system that will never lose in Forex. The deeper you go with your levels the bigger your loss will be when you take one. The 2.4.2 recovery system address both of the problems of martingaling. We only go 3 levels and we stop increasing lot sizes after 3 levels., The 4th level lot size is the same as the 2nd level lot size. We limit our losses this way and we never threaten our account.
  3. However after saying this I look forward to live testing your EA and I am curious to see if you solved the EA entrance problem before the lines are set. I had 4 programmers tackle that problem and none were able to do it. So lets see how it rolls out live testing on Monday.
  4. Once again thanks for all your help.

  • #3,329
  • Apr 24, 2010 6:05pm Apr 24, 2010 6:05pm
Quoting nanningbob
First I want to thank you for all your work. You have made some major contributions to this thread and I will be testing your EA. [list][*]However, I already know that backtests are not accurate or valid representations of live trading. We have had this discussion before and you can find my reasons throughout the thread. The MT4 backtester is flawed and live testing is the only truth that is real.[*]2nd I already know what happens in martingale styled EAs. They will fail at some point with out intervention. There is no such thing as a system...
OH, I agree. However I think you might have mistook what I wrote as a negative?

I personally have no problem with using martingale. I think that with enough capital and patience, martingale is one of the best trading strategies out there. I think a lot of the bad press that martingale gets is a direct result of people who didn't understand the capitol requirements needed and got margin called. Martingale or Semi-Martingale works fine as long as you have clearly defined entry and exit points and let the system work. If/When you interfere with the system is when it stops working.

Regardless, I think I can easily implement your 2:4:2 recovery system into the EA. If I understand it correctly, it starts on the 2nd trade, so just like my example above, it would look like this:

1 Lots on First Trade
2 Lots on Second Trade (Recovery Starts)
4 Lots on Third Trade
2 Lots on Fourth Trade (No Additional Trades)

I did a few test runs of the EA using a max trades setting of 50 just to see how deep the martingale system would get before the trades turned around. The deepest I saw was 7 deep with a lot size of 0.64 starting with a base of 0.01. Using your recovery plan the largest lot size a person would encounter would be 0.04 with a startnig base of 0.01
  • #3,330
  • Apr 24, 2010 8:01pm Apr 24, 2010 8:01pm
Quoting Zurathustra
I have succeeded in combining the EA and the Indicator into one. The EA will now draw the lines, automatically set its own TP and Entries, and generally make you money 24/7 without any outside input needed. All you have to do is turn it on, set your lot size, multiplier and barcount, and your done!

To choose whether to trade either A or B line, simply set the ABFLAG to either 1 or 2. A setting of 1 trades the A line, a setting of 2 trades the B line. A setting of 3 will "trade the center" so DO NOT SET THE ABFLAG TO 3!!! A setting of...
Zura,
Wow, I ran this through the tester (Bob, I know, I know) Oct. through Nov. of 2008 and it makes 5% on the EUR/USD. Thanks very much for this EA and I'll be forward testing it.
Edit: Looks like it crashes in Dec. of 2008 with these settings however.
  • #3,331
  • Apr 24, 2010 8:29pm Apr 24, 2010 8:29pm
Quoting Toothman
Zura,
Wow, I ran this through the tester (Bob, I know, I know) Oct. through Nov. of 2008 and it makes 5% on the EUR/USD. Thanks very much for this EA and I'll be forward testing it.
Edit: Looks like it crashes in Dec. of 2008 with these settings however.
OH, the backtests have simply looked amazing IMO, if this EA performs nearly as well on Demo forward testing I'll be extemely happy.
  • #3,332
  • Apr 24, 2010 8:36pm Apr 24, 2010 8:36pm
In the first post reference is made to an article that is no longer easily available that explains the basis for Nanningbob's philosophy. I found a copy of it in ProbaBill's S&R thread so after including the larger version of the picture from that thread at the end of the document I include it here.

Nanningbob, you may want to add it to your first post.

Nice thread and interesting work too.

.
Attached File(s)
File Type: doc Trade Like a Dealer.doc   127 KB | 1,199 downloads
  • #3,333
  • Apr 24, 2010 8:58pm Apr 24, 2010 8:58pm
Quoting Zurathustra
Having watched the backtests done in visual mode, I can tell you that by not trading on fridays or by attempting to limit the trading hours, you will only shoot yourself in the foot when it comes missing trades or from the multiplier being used to recover from bad trades.

This is definantly NOT a "meddle with it" EA. How I would recommend using this EA live:

Have a MINIMUM of $2000 Available Equity PER PAIR and PER 0.01 LOTS
Set the SL to 2000
Set the Multiply to 2
Set the lots to 0.01
Set the Max Trades to 5
Set the ABFlag to 1

Turn it...
Good day my dear traders... especially to you, Zurathustra.. i have something in mind which is similar to your ea.. i hope you can take a look.. please.. thanks..

http://www.forexfactory.com/showthread.php?t=233288
I'm not an expert but I can read charts.
  • #3,334
  • Apr 24, 2010 9:31pm Apr 24, 2010 9:31pm
Hi bob

I have made a sliding sixth indicator, but to be honest i donīt know if its good for any use. it's independent form the windows you choose. And you can set a shift. but i can't get the effect of getting the S/R on the right place...

Attached Image (click to enlarge)
Click to Enlarge Name: ecra.gif Size: 27 KB

(nBars=0; Shift_R=0 (no shift)

Do you think this is good/helpful?

Here is the indi
Attached File(s)
File Type: mq4 seis.mq4   3 KB | 215 downloads
File Type: ex4 seis.ex4   3 KB | 242 downloads
  • #3,335
  • Apr 25, 2010 12:39am Apr 25, 2010 12:39am
Quoting Zurathustra
OH, I agree. However I think you might have mistook what I wrote as a negative?

I personally have no problem with using martingale. I think that with enough capital and patience, martingale is one of the best trading strategies out there. I think a lot of the bad press that martingale gets is a direct result of people who didn't understand the capitol requirements needed and got margin called. Martingale or Semi-Martingale works fine as long as you have clearly defined entry and exit points and let the system work. If/When you interfere with the...
I will be posting my Ver.4 later today. It will have the more information than previous booklets. Yes and level 5 would be close L2 and L3 and l5 are the same lot size. I have only gone L5 one time in the last year. so 4 L have been solid.

I understnd Margingale but the vast majority of traders dont have the funds to run it successfully so they will need a 2.4.2 system of some kind to recover. I prefer to call my trading method multi level trading nstead of martingaling because of the limits I put into it.

Again look forward to testing your impovement. I am holding off on changeing my first page because of your posts and would even consider starging a new thread just for that sytem. We will see. My follow the trend thread didnt last very long though. LOL
  • #3,336
  • Apr 25, 2010 12:40am Apr 25, 2010 12:40am
Quoting kiwi_trader
In the first post reference is made to an article that is no longer easily available that explains the basis for Nanningbob's philosophy. I found a copy of it in ProbaBill's S&R thread so after including the larger version of the picture from that thread at the end of the document I include it here.

Nanningbob, you may want to add it to your first post.

Nice thread and interesting work too.

.
Thanks I will keep that one.
  • #3,337
  • Apr 25, 2010 12:44am Apr 25, 2010 12:44am
Quoting guito2009
Hi bob

I have made a sliding sixth indicator, but to be honest i donīt know if its good for any use. it's independent form the windows you choose. And you can set a shift. but i can't get the effect of getting the S/R on the right place...

Attachment
(nBars=0; Shift_R=0 (no shift)

Do you think this is good/helpful?

Here is the indi
I dont know. I am so wired into trading the 4H chart and seeing 1 month of action at a time that when people suggest changes it takes me time to get into the new thought. IN essence my indicator is sliding form week to week also but it does not show up on the screen. Yours is showing that price change from week to week. I dont know at this point whether that is better or worse. Will think on it. My first thought is yours would be easier to study back testing on than the one I have.
  • #3,338
  • Apr 25, 2010 12:49am Apr 25, 2010 12:49am
Quoting Zurathustra
OH, the backtests have simply looked amazing IMO, if this EA performs nearly as well on Demo forward testing I'll be extemely happy.
You always need to throw out the last half of December in any test. That is not a normal market and I dont even try to trade it anymore. This year I took 3 weeks off of trading because there is no read on those slow dieing, turtle inching, crawling trends around Christmas and New Year. So I disreard Oct. 2008, Christmas time testing, and the upcoming USD interest rate, when they finally change it. That one is going to be a doozy, unless it is preannounced in advance. In other words the market has already moved on the rumors instead of the news. So Forex trading this fall could get really testy.
  • #3,339
  • Apr 25, 2010 12:53am Apr 25, 2010 12:53am
Quoting Zurathustra
OH, the backtests have simply looked amazing IMO, if this EA performs nearly as well on Demo forward testing I'll be extemely happy.
I dont want to beat a dead horse here but there are a lot of impressive EA results posted all over FF only to find out they die under real live trading. I kind of believe you though. I really think this system will be a good consistent winner. The others did well but this one I think will end of being the best of the group.
  • #3,340
  • Apr 25, 2010 3:14am Apr 25, 2010 3:14am
Because of MR. Z's improvemnts. I am going to test his versions first before posting on pg. 1.
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