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Gem of an EA needs a slight change

  • #41
  • May 17, 2010 10:27am May 17, 2010 10:27am
Quoting Toothman
Shouldn't it have closed at around $2? 40% of $5?
Yes, it should have. I didn't check for that. I was more focused on the fact that it set an actual take profit value. I could have got the calculation wrong. This was the main thing holding it up, and at first I couldn't get it to work. So, when I finally sat down and crunched the numbers, and it worked immediately after that, I figured the calculation was correct. Maybe you might like to take a look at it?

Quoting Toothman
Ec,
I must be slow but if you have a multiple trade and you have the first trade variable set to say 40, won't that first trade stay open even after the other trades have shut down?
No, because it's setup to modify all open trades whenever it reaches the next level. So, whatever level it was set at before, on first, second, third trades ... no longer means anything. Here is the formula I'm using ... ((-total_profits+tp_in_money)/total_lots)*Point ...

So, on the first trade, after doing the calculation, I multiplied it by .40 (40/100) and figured it should be $2.00, which is 40% of $5.00. Which is totally arbitrary once it goes to the next level.

But no, it's possible I made a mistake in my calculations somewhere. It's pretty tricky stuff.

Quote
Don't we want all levels to close at the same time at the tp_in_money amount?
Yes.

Quote
That's what I'm after. Price hits your tp_in_money and all trades close immediately at exactly the same price.
And if it works correctly it should.
  • #42
  • May 17, 2010 10:46am May 17, 2010 10:46am
Oh, there may be other things going on internally within the EA that may also affect this. For example, the lot_multiplier is set to "true," and the multiplier is set to "2.0." So, this could very well be the problem. I suppose you could try setting the lot_multiplier to "false" and see what happens?
  • #43
  • May 17, 2010 3:12pm May 17, 2010 3:12pm
Ec
I don't think we're there yet. I had three levels open today with tp_in_money set to $5 and I saw profits go clear to +$200 and never did close the three trades. I have alt_closeall set to true and first_trade at 100. So trades should have closed at $5 profit right? Should my setting be different than these to get a close of all trades at +$5? thanks
  • #44
  • May 17, 2010 3:45pm May 17, 2010 3:45pm
Ec,
Version 5 has another thing going on. If you close a trade manually, it reopens a trade on the next tic even if conditions aren't met. I had a three level trade going and decided to close them manually but as soon as I closed the first trade, another trade kicked in. RSI was below 70 so buy should not have initiated. I'm going to stick to version 2 until we get the kinks worked out. thanks
  • #45
  • May 17, 2010 10:56pm May 17, 2010 10:56pm
Quoting Toothman
Ec
I don't think we're there yet. I had three levels open today with tp_in_money set to $5 and I saw profits go clear to +$200 and never did close the three trades. I have alt_closeall set to true and first_trade at 100. So trades should have closed at $5 profit right? Should my setting be different than these to get a close of all trades at +$5? thanks
Okay, I just backtested it and was looking at the results and noticed there were any number of single entries that closed out at $2.10, and it was consistent throughout. This tells me that my calculations are correct, except for the extra $0.10, which is probably because I didn't take into account the spread. If so, then it should probably be easy enough to fix.

I also noticed one entry that was up to $80.00, but that's because it was a sixth level entry and all other entries were in the minus ... except for one, which closed at 0. And, of course when added up, they totaled -$75.00 which, when subtracted from $80.00, equals $5.00. This is what you would expect to see if all is working correctly.

One thing I did do, however, was make the (potential) adjustment for a 5 digit broker, which may not have been necessary? If so, it wouldn't show up on my account, because it's only 4 digits. But, if it were a 5 digit account, it would be off by a factor of 10 (greater). So, maybe this is what you're looking at, that is, if you are using a 5 digit broker? Aside from that though, I can't think of anything else ... not unless you have changed the settings on the EA and are not using it in default mode, as I am.
  • #46
  • May 17, 2010 11:22pm May 17, 2010 11:22pm
Quoting Toothman
Ec,
Version 5 has another thing going on. If you close a trade manually, it reopens a trade on the next tic even if conditions aren't met. I had a three level trade going and decided to close them manually but as soon as I closed the first trade, another trade kicked in. RSI was below 70 so buy should not have initiated.
Maybe I could try adding a manual Close_All in the properties box? So, once it's initiated, it won't allow any new trades to be placed until the current ones have been closed. And, in the process maybe it will get reset as it did with the previous fix (or, so it appeared), and won't place any new trades until it's supposed to?

Quote
I'm going to stick to version 2 until we get the kinks worked out. thanks
To be honest, I'm not sure one or two pips (which, could go either way I assume) are going to make much difference over the long run. I would be more concerned about the drawdown, that's the real killer in a setup like this. So what if you lose .50 cents here and there, if you blow the whole account one or two months later?
  • #47
  • May 18, 2010 3:16am May 18, 2010 3:16am
Quoting ecTrade
One thing I did do, however, was make the (potential) adjustment for a 5 digit broker, which may not have been necessary? If so, it wouldn't show up on my account, because it's only 4 digits. But, if it were a 5 digit account, it would be off by a factor of 10 (greater). So, maybe this is what you're looking at, that is, if you are using a 5 digit broker? Aside from that though, I can't think of anything else ... not unless you have changed the settings on the EA and are not using it in default mode, as I am.
Okay, I just tried it on a 5 digit account and am basically getting the same results as with the 4 digit account so, it appears to be working.

There is one other possible thing that I can think of here. I set it up and am testing it on a mini account and it didn't occur to me that I may need to make adjustments for a standard account, which increases the lot size (or volume) by a factor of 10. So, if you are using a standard account, this might account for it as well.

One thing you can try is to set tp_in_money to $0.50 (at 40%) and see if doesn't yield a $2.00 profit. If it does, then this is what the problem is.
  • #48
  • May 18, 2010 5:16am May 18, 2010 5:16am
Quoting ecTrade
Okay, I just tried it on a 5 digit account and am basically getting the same results as with the 4 digit account so, it appears to be working.

There is one other possible thing that I can think of here. I set it up and am testing it on a mini account and it didn't occur to me that I may need to make adjustments for a standard account, which increases the lot size (or volume) by a factor of 10. So, if you are using a standard account, this might account for it as well.

One thing you can try is to set tp_in_money to $0.50 (at 40%) and see if doesn't...
Yes I have a standard account. But like I said , I had a level 3 trade going and I saw the total for the three trades go to +$280 without a close. I'm going to try .50 at 40% and then maybe .05 at 40% to see what happens. When you got your close on those orders, were they all at the same price? I think it does make a difference if we can't get a close of all orders at the same price. A couple of multi-level trades have actually closed for a combined loss for me using the first version of this EA because the price moved against me before all trades were closed. Will let you know how these new inputs work.
  • #49
  • May 18, 2010 6:21am May 18, 2010 6:21am
Ok,
I forced EA to a third level with tp_in_cash set to $ .05, (instead of $5.0) alternate close- true, first trade- 100.0. Saw combined profit of $28 with no close. Was looking for a close at $5.
  • #50
  • May 18, 2010 7:05am May 18, 2010 7:05am
Ok, .005 tp_in_money doesn't work either. Saw combined total of 6 trades go to +$321 with no close. So this version 5 of EA won't close for me no matter what inputs I use. H'mmm.
  • #51
  • May 18, 2010 7:25am May 18, 2010 7:25am
Ec,
This may give some insight. On the chart below you can see how TP (see the little pink lines) is being set 71 pips below the most recent trade. Both series of trades set TP 71 pips below the last trade. TP is being set too far from trades. That's why I'm not getting closes.
Attached Image (click to enlarge)
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  • #52
  • May 18, 2010 8:10am May 18, 2010 8:10am
Quoting Toothman
When you got your close on those orders, were they all at the same price?
Yes, it appears to be closing all orders (during backtest) at the same price, whether using the TP Close_All or not. At least it did with the first 100 orders or so.

Quote
I think it does make a difference if we can't get a close of all orders at the same price. A couple of multi-level trades have actually closed for a combined loss for me using the first version of this EA because the price moved against me before all trades were closed. Will let you know how these new inputs work.
I have something else in the works. Maybe you might be interested in that? You'll have to attach it to a separate chart though.

Oh, here is an example of trades closed using TP Close_All. I have it set up using IBFX 4 digit mini account. Maybe it has something to do with your broker, I don't know? All I know is I'm not experiencing the same problems you are experiencing above.

Attached Image (click to enlarge)
Click to Enlarge Name: mt4_pic1.JPG Size: 188 KB
  • #53
  • May 18, 2010 11:54am May 18, 2010 11:54am
Quoting ecTrade
Yes, it appears to be closing all orders (during backtest) at the same price, whether using the TP Close_All or not. At least it did with the first 100 orders or so.

I have something else in the works. Maybe you might be interested in that? You'll have to attach it to a separate chart though.

Oh, here is an example of trades closed using TP Close_All. I have it set up using IBFX 4 digit mini account. Maybe it has something to do with your broker, I don't know? All I know is I'm not experiencing the same problems you are experiencing above.

Attachment ...
The back tester never accounts for slippage. On a live account, trades don't always get closed all at the same price.
  • #54
  • May 18, 2010 12:11pm May 18, 2010 12:11pm
Well, I guess maybe I had better do some forward testing then. I expect it will take awhile before anything develops though.

By the way, did you try backtesting yourself? It might be telling (and give us some place else to look) if you couldn't get it to backtest correctly either.
  • #55
  • May 18, 2010 1:43pm May 18, 2010 1:43pm
Okay, I opened five separate pairs on IBFX 5 digit mini account and not much was happening until I set timeframe to 15 minutes. Now all have at least one trade open. Of the three I looked at with one trade, they are averaging about 21 pips (some variance due to extra digit) with lot size of 0.1. If you do the math, it comes out to $2.10, which is the same figure I mentioned earlier.

Of the two I looked at with two trades open, one had 26 pips (TP value) at second level and one pip at first level, which equals $5.30 at close, and the other had 29 pips at second level and 3 pips at first level, which equals $6.10 at close. There's also a third level trade open now, with 23 pips at third level, -2 pips at second level, and -27 pips at first level which, when you do the math, equals $6.00 at close. So, it all appears to be in the ball park anyway. I don't see any of these extravagant numbers that you're talking about ... albeit I might question why there is a difference in the close out figures.
  • #56
  • Edited May 19, 2010 2:27am May 18, 2010 6:27pm | Edited May 19, 2010 2:27am
Okay, I think I fixed it. It had something to do with my setting it up on a mini account, which shouldn't have been carried over to the standard account. So I added a mini_account=true feature (set to false), which should only apply to a mini account. So, if you're using a standard account, you shouldn't have to do anything, except leave it alone.

Basically it's a divide by 10 issue, which it's set to do in standard mode. If it's set for a mini account then it uses the straight equation or, divides by 1 instead. I know it seems kind of bass-ackwards but, it will have to do for now.

ETA: I did backtest (and forward test) it on a standard account by the way which, is why I'm providing the latest version.
Attached File(s)
File Type: mq4 swb grid 4.1.0.6.mq4   15 KB | 911 downloads
  • #57
  • May 19, 2010 6:03am May 19, 2010 6:03am
Oh, if you're unsure how to set it up, it's basically described in this post here and, in the posts following (regarding first trade factor).
  • #58
  • May 20, 2010 11:59pm May 20, 2010 11:59pm
Here it is, the latest and greatest! Basically I cleaned up the code a bit, added an order comment displaying "swb grid 4.1" plus level of trade, and added a factor array, adjustable by level. I also noticed an occasional orphan trade (first trade) where TP wasn't being set (timing issue I think) and fixed that.

In order to use the array, you need to set trade_factor_select to true. Currently it's setup to place first trade at 40%, with rest of trades set at 100%. There are 4 factor settings and 4 level settings. One combination you might want to try is factors set at 25%, 50%, 75% and 100%, and level set at 1, 2, 4 and 8. Of course this is all arbitrary and it's up to you to decide if and how you want to use it. Oh, I'm reasonably certain that it works.

Also, if you're using a mini account, be sure and set mini_account to true.
Attached File(s)
File Type: mq4 swb grid 4.1.0.7.mq4   17 KB | 1,474 downloads
  • #59
  • May 21, 2010 3:03am May 21, 2010 3:03am
Quoting ecTrade
Also, if you're using a mini account, be sure and set mini_account to true.
I don't know what the deal is here, but it's not working right now. It wasn't an issue before I made the mod so, will have to go back and check. For the time being it's probably best leaving it set to false ... which, by the way seems to work. Huh?
  • #60
  • May 21, 2010 6:26am May 21, 2010 6:26am
When you talk about the 'mini account' do you mean a micro mt4 account?

Surely, you just set the lot size to say 0.01 instead of 0.1?

This does seem like a nice EA, USDJPY has had some good results over last few days
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