It works on all pairs, best time of day when market is moving = Europe and US sessions. I like quick in and out trades. Longer trades make me sleepy
Steve Hopwood's Fib Target-level retracement auto-trader: compliments Simone
- #22
- Jun 28, 2010 2:24am Jun 28, 2010 2:24am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Thanks Steve, the RSI would be a good addition to this EA as well.
In other words the EA basis its final decision to enter based on the RSI value.
Not quite sure how the RSI filter works, is it only sell if RSI above 50 and only Buy if RSI below 50 ?
Seems to have vastly improved the original EA results to date.
RSI < 45: trend is falling so only take short trades
RSI in between 45 & 55: market is ranging so stay out.
I am going to code your robot as per original spec, but it is the work of seconds to add the RSI filter using any combination of values you specify. Give it some thought and decide what you want me to do.
One small thing, can the EA be made to Fib the previous daily high low, whilst the trader has it loaded to a smaller time frame ?
RSI > 55: trend is rising so only take long trades.
RSI < 45: trend is falling so only take short trades
RSI in between 45 & 55: market is ranging so stay out.
I am going to code your robot as per original spec, but it is the work of seconds to add the RSI filter using any combination of values you specify. Give it some thought and decide what you want me to do.
Do you mean the robot in post 1 or the upcoming FX Compass robot? Your robot has to be coded this way.
Hey Steve,
I mean the upcoming FX Compass robot.
I think the RSI levels you have posted will suit well.
The tricky part with this is going to be tight ranging markets.
Normally on manual entries I assess previous SR levels before pulling the trigger.
What are your thoughts on a DM Volatility or Damiani Volatmeter to ensure entry is not in a tight range ?
- #24
- Jun 28, 2010 2:44am Jun 28, 2010 2:44am
- Joined Jun 2009 | Status: Trader | 1,946 Posts
RSI > 55: trend is rising so only take long trades.
RSI < 45: trend is falling so only take short trades
RSI in between 45 & 55: market is ranging so stay out.
I am going to code your robot as per original spec, but it is the work of seconds to add the RSI filter using any combination of values you specify. Give it some thought and decide what you want me to do.
Do you mean the robot in post 1 or the upcoming FX Compass robot? Your robot has to be coded this way.
- #25
- Jun 28, 2010 3:07am Jun 28, 2010 3:07am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
What are your thoughts on a DM Volatility or Damiani Volatmeter to ensure entry is not in a tight range ?
- #26
- Jun 28, 2010 3:09am Jun 28, 2010 3:09am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve please consider this indi, the QQE, or QQEA, instead of standard RSI. Its based on two smoothed moving averages of RSI, one fast, and one slow. It will provide a simple cross to define trend at whatever TF it is set to. Red line fast, yellow dotted slow. So whatever dir red crosses yellow is the defined trend. It filters consolidation very well, and finds early exits when stong trends burn out. Cheers.
I am going to code FX's basic bot first, then we can start to consider extra sauce. Anything we can apply to one robot will also help the other, and could find a use within Simone.
Very nice Steve,
the Fibo retrace buy 23.6 is coming up between the 0 and -38.2
It needs to be between the 50 and 0.
Otherwise all is excellent.
I am currently checking out the qqe for trade filters as recommended.
the Fibo retrace buy 23.6 is coming up between the 0 and -38.2
It needs to be between the 50 and 0.
Otherwise all is excellent.
I am currently checking out the qqe for trade filters as recommended.
- #29
- Edited 5:55am Jun 28, 2010 4:04am | Edited 5:55am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Very nice Steve,
the Fibo retrace buy 23.6 is coming up between the 0 and -38.2
It needs to be between the 50 and 0.
Otherwise all is excellent.
I am currently checking out the qqe for trade filters as recommended.
- #33
- Jun 28, 2010 4:59am Jun 28, 2010 4:59am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I look at the code and looks like void LookForTradeOpportunities() is commented out.
Cheers
- #34
- Jun 28, 2010 5:31am Jun 28, 2010 5:31am
- Joined Jun 2009 | Status: Trader | 1,946 Posts
It seemed QQE repaint.
Price moves a certain distance from 0 point and refers to the trend filter to see if it can trigger a trade. If price has moved that distance it would have exceeded the indi's range for repaint.
For the same reason I think it makes sense to tighten up on the DAR factor, down to 2.1 to 2.4 or so, while keeping the periods at standard settings. Lowering the DAR will give tighter entries and exit points, and since its only verifying trend you won't be triggering a ton of trades based on consolidation.
If its so unlucky as to move x points while the QQE just crosses, and reverse, then a tighter setting can close the trade more quickly anyway.
Anywho thats the best I've got for the moment.
- #35
- Jun 28, 2010 6:27am Jun 28, 2010 6:27am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Exciting news, folks. I coded the RSI filter conditionals the wrong way around. This filter made a huge difference when it was wrong; it should be something special now it is the right way around.
Fixed version is in post 1.
Fixed version is in post 1.
Exciting news, folks. I coded the RSI filter conditionals the wrong way around. This filter made a huge difference when it was wrong; it should be something special now it is the right way around.
Fixed version is in post 1.
The second order Lot x 2 is the same price as the 1st Lot. I think there isn't any Lot x 3 and Lot x 4.
0.01 and 0.02 reached TP in 15 minutes. about 12% of the a/c.
Yes I know my MM sucks!
- #38
- Jun 28, 2010 12:00pm Jun 28, 2010 12:00pm
Exciting news, folks. I coded the RSI filter conditionals the wrong way around. This filter made a huge difference when it was wrong; it should be something special now it is the right way around.
Fixed version is in post 1.
Had the EA running on demo today (the one before the RSI fix). Had it on GJ and GU 15M charts. Total of 25 trades with 25 winners. Will put the EA onto different time frames to see how it does. It's also going onto one of my live cent accounts ready for tomorrow.
Thanks again for sharing Steve.
PeeJay
Exciting news, folks. I coded the RSI filter conditionals the wrong way around. This filter made a huge difference when it was wrong; it should be something special now it is the right way around.
Fixed version is in post 1.
latest version is forward testing perfectly so far.
3 pairs, EU, GU and AU. M15 all pairs.
All trades winners and no losers.
Well done.