Attachments: A Simple London Breakout V.2

A Simple London Breakout V.2

#361
Aug 18, 2010 4:14am Aug 18, 2010 4:14am

mtbf40
| Joined Jun 2010 | Status: Trader | 82 Posts

Quoting JohnnyBSmart

Disliked

Starting from a blank screen in less then a week I can write a code that produces 15-20 profit factor. Couple that with a your Martingale system or my Risk/Profit system and it explodes exponentially from there. How's a 43 to 1 win/loss ratio raise your blood pressure? I know it did mine.
Johnny

Ignored

you publish him at the best here in the forum!!

regards mtbf40

#362
Aug 18, 2010 4:31am Aug 18, 2010 4:31am

squalou
Joined Mar 2010 | Status: Trader | 588 Posts

Quoting ibthescottyb

Disliked

Good evening or morning all!

Quick question, is there anything in the settings that would allow entry points 1-5 pips outside the box?

I trade the breakout box manually and have had much better false breakout avoidance if I set my orders just outside the box by 3-5 pips depending on pair. I set the same for my initial SL, just outside the box on the opposite side. That way the price actually has to leave the box range before getting into a position.

It doesn't catch them all. But is sure helps.

Thanks and great work. Love the EA!

ScottyB...

Ignored

there is actually of way of doing this...

it is not called "buffer" in the inputs (that's what you want: a "buffer" of 3-5 pips), but you can achieve that with the "LevelsResizeFactor".
It is set to 1.0 by default, but increasing it will expand the box size and levels by this factor.
If you have a box of 40 pips range, and you set LevelsResizeFactor=1.2, this will expand the box by 20% of its size, making it 40*1.2 = 48 pips instead of 40 pips.
And you have your 4 pips buffer here... (4 on top and 4 on bottom = 8 "expanded" pips)

Watch-out that LevelsResizeFactor also expands the target levels as well, so you might want to reduce their values if you want to keep the same levels as for the regular box (divide them by LevelsResizeFactor).

FYI, as this is somewhat in the same topic, you might also have noticed that you can set the target levels as a FIXED pips amount instead of a factor of the box size.
This is achieved by setting the TP1Factor and/or TP3Factor inputs to a number of pips instead of a factor value.
Any value >=10 here will be taken as pips instead of a factor.
LevelsResizeFactor does not apply to fixed pips inputs.

Example: TP1Factor=40 will set the TP1 to 40 pips away from the box edges.
TP1 will remain 40 pips whatever LevelsResizeFactor is.

SQ

#363
Aug 18, 2010 4:48am Aug 18, 2010 4:48am

mtbf40
| Joined Jun 2010 | Status: Trader | 82 Posts

Hi SQ,

in the EA - why was the trailing stop commented out?

mtbf40

#364
Aug 18, 2010 4:51am Aug 18, 2010 4:51am

JohnnyBSmart
Joined Apr 2009 | Status: Trader | 816 Posts

Quoting mer071898

Disliked

[color=Navy]Don't worry about me, I've learned to develop a thick skin on this site. There are very few people here that can raise my blood pressure. It seems to me that you're coming across as the one who's blood pressure is raised. Just because we don't instantly make changes to suit your needs does not mean you can't take the information here a develop it on your own , which you've apparently done.

If your an experienced coder and you've developed strategies with a 15-20 profit factor and a 43 to 1 win/loss ratio, you'd better dump a couple...

Ignored

mer,

I retired a long time ago and my blood pressure is fine. I was just trying to be nice and give some ideas but I understand you being defensive so please calm down I won't do it again. As I said before the system looks great and with a little tweaking you'll do just fine. The next thing you'll be doing is planning your retirement.

Good Luck,

Johnny

#365
Aug 18, 2010 5:28am Aug 18, 2010 5:28am

squalou
Joined Mar 2010 | Status: Trader | 588 Posts

Quoting mtbf40

Disliked

Hi SQ,

in the EA - why was the trailing stop commented out?

mtbf40

Ignored

That was remaining from the LBO V1 EA, but could not be kept as per the strategy.
I will use that code for trade #3 at least; perhaps also for trade #2;
Knowing that a trailing/jumping stop can actually make the trade close at a lower price in case of retracement.
With hard TPs, we are locking these pips for sure.
Just a choice.

SQ

#366
Aug 18, 2010 6:00am Aug 18, 2010 6:00am

JohnnyBSmart
Joined Apr 2009 | Status: Trader | 816 Posts

Quoting mtbf40

Disliked

you publish him at the best here in the forum!!

regards mtbf40

Ignored

Hello mtbf40,

I don't really understand what you're asking but I finished the EA before being a member of FF or any other Forex site. I was into trading stocks and not currencies at that time. It is not an MT4 program so would be quite useless posting it. I traded off the Daily charts and it was trend line system with stochastic filters. It works on any chart with similar results and was based on a book I read by a professional trader.

Writing it taught me how to trade as I found writing code by a bad trader as I was back then just didn't work. I first had to know how to trade and then write the code. The EA's you see on sites like FF and even the ones for sale on the internet are at best written by good coders and designed by bad traders and hence they only work some of the time and on some charts but in the long run they really are junk. A few months ago a guy was advertising an EA on the internet for $1,400 saying how great the system was and a user would be rich in no time. It showed $143,000 profit in a one week time period for the GBPUSD. This guy posted the back test which showed $675,000 in draw downs. Another site showed 46 continuous losers before the first winner on the back test of their EA. It was obvious that the only money these two could make is scamming people on the internet dumb enough to buy. I'm convinced neither had a clue how to trade.

I'm not in anyway saying that is the case here as very little time has passed since the beginning of this thread and Mer and Squalou are doing a great job and at break neck speed. I'd help them if I could but I do not trade on the MT4 platform and find it lacking in a lot of ways. I also do not trade like this but that doesn't mean their method is flawed and mine is better. The process of building a great EA is a very tedious one and I can only wish them luck.

Johnny

#367
Edited 8:08am Aug 18, 2010 7:22am | Edited 8:08am

ibthescottyb
| Commercial User | Joined Aug 2010 | 99 Posts

Quoting squalou

Disliked

there is actually of way of doing this...
it is not called "buffer" in the inputs (that's what you want: a "buffer" of 3-5 pips), but you can achieve that with the "LevelsResizeFactor".
It is set to 1.0 by default, but increasing it will expand the box size and levels by this factor.
If you have a box of 40 pips range, and you set LevelsResizeFactor=1.2, this will expand the box by 20% of its size, making it 40*1.2 = 48 pips instead of 40 pips.
And you have your 4 pips buffer here... (4 on top and 4 on bottom = 8 "expanded" pips)...

Ignored

Thank you for that info! I will play with that setting and see what I come up with. I love the strategy as is. But when you have been doing one thing for so long, it's hard to chnge cold turkey. But I think you have me sold on this one. I just need to build my account more to handle a marty across several pairs before I can use the EA as the strategy as described.

Great work and thanks again!

ScottyB

#368
Aug 18, 2010 8:46am Aug 18, 2010 8:46am

xmph
| Joined Jan 2009 | Status: Trader | 139 Posts

Mer,
should I send EA issues directly to Squalou or is it better to post them here once for everyone to keep track of the EA development, or would Squalou post a log-file (if I may) of the changes done (if we pm him) each time he upload a new EA version ?

Now, for profitability: I backtested your strategy thanks to Sqalou EA since 2007 on the tick data of Dukascopy, initial deposit of 2500$ and starting lot of 0.01 (see my previous post with complete report) .... I have a complete successful 4-yr backtest that at least double every year.

So for anyone here, the NEW LBO strategy of Mer is incredibly profitable (and risky ... not going there ... but there are multiple ways to manage risk as you are pleased considering all the features Squalou has implemented ... see for yourself ... or blow your account if under capitalized or over-greedy).

Squalou:
1. ECN issue:
I'm using GoMarkets that is an ECN broker. The EA does not work with it although I activated the BorkerECN = true.

I went through the code and realized that you have SL and TP for non-ECN and SL@0 and TP for ECN ... I believe this is the problem as it should be SEND with SL@0 and TP@0 then MODIFY with SL and TP.

I will try this tonight and come back to you.

2. London timeZone:
I think (think, not sure yet I have very little time to spend on Forex these last few weeks), that the EA and indicators should auto-correct for London open considering London is either GMT or GMT+1 depending on the year .... not a biggie to code (will eventually send you something Squalou)

XmPh.

#369
Aug 18, 2010 9:51am Aug 18, 2010 9:51am

squalou
Joined Mar 2010 | Status: Trader | 588 Posts

Quoting xmph

Disliked

Mer,
should I send EA issues directly to Squalou or is it better to post them here once for everyone to keep track of the EA development, or would Squalou post a log-file (if I may) of the changes done (if we pm him) each time he upload a new EA version ?

Ignored

Please post your remarks on the thread, so we can all track what's wrong;
i will be posting the changes history along with each new EA version;

Quoting xmph

Disliked

1. ECN issue:
I'm using GoMarkets that is an ECN broker. The EA does not work with it although I activated the BorkerECN = true.

I went through the code and realized that you have SL and TP for non-ECN and SL@0 and TP for ECN ... I believe this is the problem as it should be SEND with SL@0 and TP@0 then MODIFY with SL and TP.

I will try this tonight and come back to you.

Ignored

please do

Quoting xmph

Disliked

2. London timeZone:
I think (think, not sure yet I have very little time to spend on Forex these last few weeks), that the EA and indicators should auto-correct for London open considering London is either GMT or GMT+1 depending on the year .... not a biggie to code (will eventually send you something Squalou)

XmPh.

Ignored

please send your code.
we are running into these questions all the time, so, if there is a reliable way of getting rid of this recurring issue, we'll all be very happy about it, and spent less time (mainly Mer's time...) answering the same questions again and again...

The DST(daylight saving time) issue is really something we should automate in the EA, as the strategy is very sensitive to it.
We could then run reliable backtests over long periods without having to break them into DST / non-DST periods.
That would be a great improvement indeed.

thanks
SQ.

#370
Aug 18, 2010 10:01am Aug 18, 2010 10:01am

JohnnyBSmart
Joined Apr 2009 | Status: Trader | 816 Posts

Quoting xmph

Disliked

I have to admit that this new LBO is wonderful and profitable

.... few more backtest and I go live. I will let you know.

PS: I'm impressed by both Squalou and Mer.

Ignored

xmph,

Am I reading this correctly. 74.85% Draw Down. You might consider holding going live for a while until the bugs in this system are worked out. Even the 17.87 DD on the first one with a two year profit of $1,534 isn't very good. The profit vs the risk isn't worth it. Wait and let them sort this out first would be the best advice I'm sure it can only get better.

Johnny

#371
Aug 18, 2010 12:31pm Aug 18, 2010 12:31pm

Daniele81blu
| Joined Aug 2010 | Status: Trader | 1 Post

Hello and congratulations on great work you are doing! I installed the program on the platform MT4 EA Squalou but I getting this error and I'm not even from an order:

(130) Invalid Stop

Sorry for my bad English and thank you all!

Hello

#372
Aug 18, 2010 1:00pm Aug 18, 2010 1:00pm

Wandler
| Joined Aug 2010 | Status: Trader | 30 Posts

Quoting Daniele81blu

Disliked

Hello and congratulations on great work you are doing! I installed the program on the platform MT4 EA Squalou but I getting this error and I'm not even from an order:

(130) Invalid Stop

Sorry for my bad English and thank you all!

Ignored

Try this:
BorkerECN = true
SLFactor = 1

#373
Aug 18, 2010 1:12pm Aug 18, 2010 1:12pm

rlewan
| Joined May 2010 | Status: Trader | 37 Posts

Hello Squalou,

When you develop indy and EA for CT option that is really usefull for this strategy, will it be connected into one with BO ? or maybe it will be separate indy and EA?

Rgds,
RL

#374
Aug 18, 2010 1:54pm Aug 18, 2010 1:54pm

xmph
| Joined Jan 2009 | Status: Trader | 139 Posts

Quoting rlewan

Disliked

Hello Squalou,

When you develop indy and EA for CT option that is really usefull for this strategy, will it be connected into one with BO ? or maybe it will be separate indy and EA?

Rgds,
RL

Ignored

I would suggest separating Indies and EAs as eventually some ppl feel confortable working on Indies but not on the Eas (that may be more complex). AS well, it is good to backtest only on Indies and look how they evolve without having Eas interferences.

There is fundamentally no drawbacks .... except that of maintaining up to 2 Indies and 1 Eas at a time, if the Ea is not updated yet to the latest version of the Indy.

I'm not Squalou, but that's how I see it.

#375
Aug 18, 2010 3:25pm Aug 18, 2010 3:25pm

watcherkb
| Joined Jul 2010 | Status: Trader | 28 Posts

Hey all,

just wondering why the EY is opening order 4, 5 and 6 ?

Look at picture 1

Attached Image (click to enlarge)

Click to Enlarge

Name: buy target between entry buy and buy target 1.jpg
Size: 91 KB

And what is going on on picture 2? ok...first trade is TP...what about the others?

Attached Image (click to enlarge)

Click to Enlarge

Name: buy target between entry buy and buy target 2.jpg
Size: 60 KB

#376
Aug 18, 2010 5:38pm Aug 18, 2010 5:38pm

Wandler
| Joined Aug 2010 | Status: Trader | 30 Posts

Quoting watcherkb

Disliked

Hey all,

just wondering why the EY is opening order 4, 5 and 6 ?
And what is going on on picture 2? ok...first trade is TP...what about the others?

Ignored

It may be that the historical data are wrong.

#377
Edited 6:51pm Aug 18, 2010 6:36pm | Edited 6:51pm

mer071898
Joined Jan 2007 | Status: Trader | 1,626 Posts

Our wonderful coder extraordinaire, sqaulou, has made an improvement to V.3 of the Breakout indicator. You now have the option to show either 3 targets (as the original indicator) or 5 targets like the new V.3 does. If you only want 3 targets, set the "TPFactor5" input to "0". He has also added a "BO" comment below the box to distinguish it as the BreakOut Strategy. The CT indicator will have the same comment when it's finished.

After seeing the Counter Trend strategy get hammered on the Eur/Usd over the past few days, I'm going to take out the basic CT strategy and bring in the 3 Tiered CT Strategy this evening for visual testing. I will post both indicators here but I will only add the New Breakout indicator to the first post. I don't want to post a version of the CT indicator if it's not done yet, fair enough?

***The CT indicator is a modified version of the Breakout indicator and is not in it's finished stage, so please keep that in mind and do not worry about the specific level info and inputs for now. Once we get a final version completed, sqaulou will be taking a look at doing the EA for it***

The new 3 Tier CT strategy will be taking advantage of the retraces from the targets instead of retraces from the box. This will hopefully eliminate the false breakouts that everyone is getting annoyed with and should cut down on the whiplashing around the box which is what gets us in trouble and increases the multiplier's too fast. I will show examples later on regarding how to enter and follow the trades. I am also going to adjust the Breakout Strategy's target levels to a more appealing 1:1 R/R ratio.

Attached File(s)