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Trend Follower 5 Minute System

  • #3,581
  • Sep 2, 2010 10:56am Sep 2, 2010 10:56am
Quoting faze
I have attached the 2 log files in a zip, not sure exactly what part was needed so here are the full files. Below is error in the expert tab on the 30m demo, one order did happen to go through last night. Hope this can help.

01:30:03 Trend Follower Wicker v1.0.1 AUDUSD,M30: Error in buy open order, error 131, lots 0.08, price 0.90810, sl 0.90500, tp 0.91898 (bid 0.90800, ask 0.90810)
01:30:03 Trend Follower Wicker v1.0.1 EURUSD,M30: Error in buy open order, error 131, lots 0.06, price 1.28210, sl 1.27765, tp 1.28880 (bid 1.28200, ask 1.28210)

From the log everything seems ok, the server says that the minimum tradable lot is 0.01 and the EA tried to send a market order of 0.08 lots.
I googled a little and found a user reporting the following:
"After research realized that the FXOpen-ECN account has a limit of a minimum 1.0 lot sizes which created this hangup"
Can you confirm this?
The problem here is that there is no way to gather this information from the client terminal.
I can overcome this problem by adding an external parameter where the user sets the minimum amount of tradable lots.
The user must remember to set this parameter, since, as already written, it cannot be gathered from the server.
  • #3,582
  • Sep 2, 2010 10:59am Sep 2, 2010 10:59am
Quoting Faith Trader
All those open positions in a single currency pair, AUD/USD, closed out for a loss of almost $800. That is not good and not good money management. Something has to be done different or you could lose a lot of money fast. It may not happen very often, but when it does it's not pretty.
-Faith Trader
Are you sure you had not attached the same EA to the same currency and timeframe on multiple charts?
Are you sure you did not play too much with the external parameters?
Please post the log.
  • #3,583
  • Sep 2, 2010 11:15am Sep 2, 2010 11:15am
Hi, Asasa

I have forward tested the EA for few days. Most of the trades were ended with negative pips at closing.

Here is my observation. The EA opens trades exactly as programmed. Some of the trades ended up losing due to:

  1. The trade was opened when the slope direction line was in the opposite direction.
  2. The trade was cut short when the price opened on the other side of the volatility channel.


According to the exit rules:

  1. “Close half of the position on the first pivot point and let the other half run till the slope direction lines goes red” did not mention about closing when price opens on the other side of the volatility channel
  2. Alternate exits:

  1. Close positions at pivot points.
  2. Close when slope direction lines changes color after the move.
  3. Close when price open on the other side of the volatility channel.


Since you are going to update the EA this weekend, can you please make the above exits as options?

Thanks in advance.

Jimmy

  • #3,584
  • Sep 2, 2010 11:33am Sep 2, 2010 11:33am
Quoting jtamcan
Hi, Asasa

I have forward tested the EA for few days. Most of the trades were ended with negative pips at closing.

Here is my observation. The EA opens trades exactly as programmed. Some of the trades ended up losing due to:
[list][*]The trade was opened when the slope direction line was in the opposite direction.[*][font=Times New Roman][size=3]The trade was cut short...
I think for the next release there is enough to fix and test.
I will not introduce changes in the strategy in the next version of the EA.
In any case, we can start to think about changes in the strategy for a future version to come.
You posted the original exit rules and they are not clear.
Can you be more precise on the optional exit rules?
Try to algorithmically describe (external parameters and logic) how the EA should behave.
  • #3,585
  • Sep 2, 2010 12:04pm Sep 2, 2010 12:04pm
Hi Asasa, please see attached log. Start today, 9-2-2010, at 17:00 for first trade opened, then see 18:55 for second trade added and then 19:05 for third trade added. To answer your questions, I do run multiple charts with the EA running but not on the same pair. I have the EA running on 8 different pairs. As far as time frame, all 8 pairs are on the 5 min. time frame. And last, the only thing I have changed in the EA properties is the freshstart, as per your post, which is set to true. Everything else is set at default. I think what's happening is the rules for entering a trade are being met and the EA just continues to put on trades if the there's enough money in the account. That's why I was wondering if there is a way to limit the number of open trades on each currency pair being traded until that open trade has been closed. I look forward to hearing what you find out from the log. Thanks!!

-Faith Trader


Quoting asasa
Are you sure you had not attached the same EA to the same currency and timeframe on multiple charts?
Are you sure you did not play too much with the external parameters?
Please post the log.
Attached File(s)
File Type: txt #1 Trend Follower Wicker_log_AUDUSD5.txt   657 KB | 654 downloads
  • #3,586
  • Sep 2, 2010 12:18pm Sep 2, 2010 12:18pm
Quoting Faith Trader
Hi Asasa, please see attached log. Start today, 9-2-2010, at 17:00 for first trade opened, then see 18:55 for second trade added and then 19:05 for third trade added. To answer your questions, I do run multiple charts with the EA running but not on the same pair. I have the EA running on 8 different pairs. As far as time frame, all 8 pairs are on the 5 min. time frame. And last, the only thing I have changed in the EA properties is the freshstart, as per your post, which is set to true. Everything else is set at default. I think what's happening...
Ok, you are completely right.
I can force the EA to avoid entering new orders if there are already other positions open.
  • #3,587
  • Sep 2, 2010 12:37pm Sep 2, 2010 12:37pm
Asasa, that's great. I think it's good money management to do that. I just want to be sure I understand, when you say you can force the the EA not to open any new positions while there are already open positions trading, is that currency specific? Will the EA still open positions on other currency pairs even though there is an open position on a different pair? Also, is this something you are considering putting in the next EA version?

-Faith Trader

Quoting asasa
Ok, you are completely right.
I can force the EA to avoid entering new orders if there are already other positions open.
  • #3,588
  • Sep 2, 2010 2:42pm Sep 2, 2010 2:42pm
Quoting Faith Trader
Asasa, that's great. I think it's good money management to do that. I just want to be sure I understand, when you say you can force the the EA not to open any new positions while there are already open positions trading, is that currency specific? Will the EA still open positions on other currency pairs even though there is an open position on a different pair? Also, is this something you are considering putting in the next EA version?
-Faith Trader
If an entry condition triggers on EUR/USD and we have already open positions on EUR/USD, the EA will not send the new orders.
If an entry condition triggers on EUR/USD and we have already open positions on (e.g.) EUR/GBP but not on EUR/USD, the EA will send the new orders.
I will add this to the upcoming version of the EA.
  • #3,589
  • Sep 2, 2010 8:38pm Sep 2, 2010 8:38pm
Thanks!!

-Faith Trader

Quoting asasa
If an entry condition triggers on EUR/USD and we have already open positions on EUR/USD, the EA will not send the new orders.
If an entry condition triggers on EUR/USD and we have already open positions on (e.g.) EUR/GBP but not on EUR/USD, the EA will send the new orders.
I will add this to the upcoming version of the EA.
  • #3,590
  • Sep 2, 2010 10:10pm Sep 2, 2010 10:10pm
Hi, Asasa

A sell order of USDCHF was opened at 2010.09.03 03:40 (1.01241) by the EA and closed at 03:55 (1.01281) (S/L of 1.01374). A loss of 4 pips. I can see that this trade should be a winner if it is not closed because of a new candle opens on the other side of the volatility channel.

I am confused with the closing logic. Should that be exit half of the trade at the first pivot point before being closed by the volatility channel or the slope direction line? What is the logic of having a stop loss so far away and close the trades with the volatility channel violation?

It seems to me the original Wicker exit is very clear. Close half of the trade on the first pivot and let the other half run till the slope direction line changes direction. If it is applied in this trade, the trade will continue and should be profitable. We can tell as time goes by.


Jimmy
Attached File(s)
File Type: doc USDCHF Trend Follower Wicker v1.0.1.doc   34 KB | 882 downloads
  • #3,591
  • Sep 2, 2010 11:46pm Sep 2, 2010 11:46pm
Quoting jtamcan
Hi, Asasa

A sell order of USDCHF was opened at 2010.09.03 03:40 (1.01241) by the EA and closed at 03:55 (1.01281) (S/L of 1.01374). A loss of 4 pips. I can see that this trade should be a winner if it is not closed because of a new candle opens on the other side of the volatility channel.

I am confused with the closing logic. Should that be exit half of the trade at the first pivot point before being closed by the volatility channel or the slope direction line? What is the logic of having a stop loss so far away and close the trades with the...
I understand your point.
If it is ok, for the moment I can simply remove the volatility channel as an exit condition.
We can then think better about how to implement the exit strategy.
If I understand, the EA should consider the volatility channel exit condition only if the nearest pivot point has already been reached.
Can you confirm this?
  • #3,592
  • Sep 3, 2010 12:43am Sep 3, 2010 12:43am
Well, Asasa

The previous USDCHF trade did end up losing a bit more at the change of the slope direction line, but that is the chance we have to take in order to gain.

There is no perfect closing logic. I think

1. Close half at first pivot point and the other half at the slope direction line color change. or,

2. Close at pivot points. or,

3. Close when slope direction line color change.

has a better chance.

That is my 2 cents of opinion.

Jimmy
  • #3,593
  • Sep 3, 2010 2:24am Sep 3, 2010 2:24am
i know i am being lazy....

but it's been a couple years this system....

are we still following the rules with MACD, laguerre, and the rainbow?

you'll be really hard pressed to find a perfect signal... and even when you do, it doesn't necesarilly pan out....
  • #3,594
  • Sep 3, 2010 2:26am Sep 3, 2010 2:26am
Hi, Asasa

There are times a trade was initiated against the slope direction line and end up with a loss. Is it the same as trading against the trend? Should that trade be eliminated by the EA?

Jimmy
  • #3,595
  • Sep 3, 2010 10:35am Sep 3, 2010 10:35am
Quoting jtamcan
Hi, Asasa

There are times a trade was initiated against the slope direction line and end up with a loss. Is it the same as trading against the trend? Should that trade be eliminated by the EA?

Jimmy
I will consider to add this as an optional filter for entries.
  • #3,596
  • Sep 3, 2010 8:30pm Sep 3, 2010 8:30pm
Hi there,
I am new in this strategy and read that the appropiate time to trade into it is from USA Open till USA Close (market). Would somebody tell me what hours are those (what clock-time of a day) in Mexico City time and how to set it up at MT4?

I will appreciate your help.

Thanks in advanced
  • #3,597
  • Edited 3:39am Sep 5, 2010 2:41am | Edited 3:39am
Here is the new version of the Trend Follower Wicker Expert Advisor (v1.1.0).
This updated version is an enhancement that substitutes all the previous versions of the same expert advisor.
I have fixed the bugs and added most of the features we have discussed of during the previous week, let me know if I left something out.
Apart from some additional optional filters on entries and exits, up to now the logic of exits is basically left unchanged from the previous version of the EA.
We can still discuss on how to improve the exit conditions.
As usual, please read carefully the instructions at the beginning of the Expert Advisor.
Also the new version of the EAHelper library (here attached) is required.

What's new in Trend Follower Wicker v1.1.0 (from previous version v1.0.1):
- Added optional slope direction line entry filter
- The slope direction line exit condition is now optional
- The volatility channel exit condition is now optional
- Added parameter to avoid entering new positions when other open positions are already present
- Added parameter to set the minimum allowed stop loss distance
- Added parameters to set the minimum and maximum allowed lots
- Added fixed lots as additional trade volume calculation mode
- Modified behavior of "freshstart" parameter, cleanup also with parameter change or expert advisor recompilation
- Set the default value of "freshstart" parameter to "true"
- Added textual description of error code conditions
- Added documentation for EAHelper library external parameters
- Various improvements in the EAHelper library to increase order management robustness

Inserted Code
//+---------------------------------------------------------------------------------------+
//|                               Trend Follower Wicker, Expert Advisor for MetaTrader 4  |
//|                                           Copyright © 2010, asasa, [email protected]  |
//|                                         Original concept: TheWicker on Forex Factory  |
//|                               Ref: http://www.forexfactory.com/showthread.php?t=40325 |
//|                  Ref: http://www.bustathief.com/earn-money-with-forex-trend-follower/ |
//+---------------------------------------------------------------------------------------+

// EA info:
#define EA_NAME_VERSION "Trend Follower Wicker v1.1.0"
#property copyright     "Copyright © 2010, asasa, [email protected]"
#property link          "[email protected]"

//------------------------------------------------------------------------------------------------------
// Instructions:
//--------------
// - copy this file (*.mq4) to "<mt4 client dir>\experts\"
// - copy the required header file (EAHelper vX.X.X.mqh) to "<mt4 client dir>\experts\include\"
// - copy the required indicators to "<mt4 client dir>\experts\indicators\":
//   * EMA Crossover Signal.mq4 (4,215 bytes)
//   * Laguerre.mq4 (2,746 bytes)
//   * Slope Direction Line.mq4 (4,196 bytes)
//   The indicators can be found on http://www.bustathief.com/earn-money-with-forex-trend-follower/
//------------------------------------------------------------------------------------------------------
// Important note: compilation warnings are not harmful
// Do not worry about warnings regarding possible non-referenced functions.
// These functions are part of the helper library that are not used in this particular EA.
// These warnings can be safely ignored.
//------------------------------------------------------------------------------------------------------
// For a description of the meaning of the external parameters, refer to the comments in the source code
//
extern int    basemagicnumber        = 20100806;   // base magic number for this EA, used to derive the magic numbers for the various timeframes
extern int    timeframe              = PERIOD_M5;  // timeframe on which the EA is applied (chart timeframe is not taken into account)
extern bool   useslopedirentryfilter = true;       // use slope direction line entry filter; if true, send orders only if the slope direction line indicator points in the same direction
extern bool   useslopedirexitcond    = true;       // use slope direction line exit condition
extern bool   usevolchannelexitcond  = false;      // use volatility channel exit condition
extern bool   avoidmultiplepos       = true;       // do not open additional positions if other positions are already open
extern int    arrowfastema           = 4;          // period of the fast EMA for the arrow indicator (EMA crossover)
extern int    arrowslowema           = 8;          // period of the slow EMA for the arrow indicator (EMA crossover)
extern int    macdfastema            = 5;          // fast ema period of the MACD indicator
extern int    macdslowema            = 35;         // slow ema period of the MACD indicator
extern int    macdsignalper          = 5;          // periodicity of the signal line of the MACD indicator
extern int    volachannelper         = 34;         // periodicity for the volatility channel calculation
extern double laguerregamma          = 0.66;       // gamma parameter of the Laguerre indicator
extern double laguerrereflevel       = 0.15;       // reference level of the Laguerre indicator for entry conditions
extern int    slopedirper            = 80;         // periodicity of the slope direction line indicator
extern int    stoplossmode           = 1;          // stop loss mode; 1: recent high/low breakout; 2: fixed amount of pips
extern int    slm1extensionpips      = 5;          // for stoploss mode 1, number of extra pips for the breakout above/below recent high/low
extern int    slm1recentbars         = 5;          // for stoploss mode 1, number of bars for the calculation of recent high/low
extern int    slm2pips               = 25;         // for stoploss mode 2, fixed amount of pips for the stoploss
extern int    stoplossmindist        = 10;         // stop loss minimum distance (in pips)
extern int    moneymanagementmode    = 2;          // money management mode; 1: fixed lots; 2: fixed risk percentage in terms of account percentage
extern double mmm1fixedlots          = 0.1;        // for money management mode 1, fixed lots for every order send
extern double mmm2riskperc           = 1.0;        // for money management mode 2, risk percentage in terms of account equity
extern double minallowedlots         = 0.01;       // minimum allowed number of lots
extern double maxallowedlots         = 100.0;      // maximum allowed number of lots
// EAHelper parameter: bool freshstart = true;     // if true, clear all existing orders and internal state of the EA when it is first attached to a chart

// include:
#include <EAHelper v1.0.9.mqh>
Attached File(s)
File Type: mq4 Trend Follower Wicker v1.1.0.mq4   61 KB | 2,368 downloads
File Type: mqh EAHelper v1.0.9.mqh   58 KB | 1,841 downloads
File Type: mq4 EMA Crossover Signal.mq4   4 KB | 1,646 downloads
File Type: mq4 Laguerre.mq4   3 KB | 1,573 downloads
File Type: mq4 Slope Direction Line.mq4   4 KB | 1,655 downloads
  • #3,598
  • Sep 6, 2010 1:14am Sep 6, 2010 1:14am
Hi, Asasa

Thank you for the updated EA. I am forward testing it in 8 pairs.

Jimmy
  • #3,599
  • Sep 6, 2010 3:51am Sep 6, 2010 3:51am
i'm thinking it'd make sense to start using github (git) or bitbucket (mercurial) for further development of this EA.
  • #3,600
  • Sep 6, 2010 4:50am Sep 6, 2010 4:50am
Quoting grillz
i'm thinking it'd make sense to start using github (git) or bitbucket (mercurial) for further development of this EA.
I always use SVN.
The repositories are on my pc only.
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pakorn153