123 Pattern EA

How do I get the news filter to work properly? I've noticed that the news filter get's it's info from Forex Factory. I live in Australia. Is there something I need to set up like time zones or something with the Forex Factory web site?

News filter should work properly regardless of the time zone.

Ok then I've set my news filter to avoid only high impact news events. Even with it set at 10 minutes before and 10 minutes after it is always showing that "we are in news perioid" even though we're not. How come? It's showing it right now at 23:00 GMT Sunday night and I'm pretty sure there are no news events now.
I've even adjusted the forex calendar time to match my computer time. Does the News events filter in Opto 123 V1.2 work for you?

It works for me with high impact news. Use the attached FFCal and allow DLL imports.

That one works perfectly. Thanks for your tenacious assistance.

Sorry maybe stupid guestion ,but to where we put the FFCal? thanks

You know what would be a great solution for the currency pairs that like to go against the zig-zag? A reverse trade option.
Then Opto 123 V1.2 would be an absolute monster of an EA. Anyone able to add this and willing to share?
FFCAl goes in the indicators folder in response to the last question.
Best Regards,
Tom

I shall add the reverse signal option and release a new EA version in a few days.

Ok, glad you posted this, as I'm making my way through the thread. I was getting worried from all the people talking about DD, margin calls etc. I just completed a 3 yr. back test on EUR/USD daily with settings out of the box 1k-5K straight up

Hi All

123 pattern is very good strategy but be careful because all of 123 patterns don't go to profit.

also sometimes there are pattern into patterns. it means you have 123 pattern and inside this, you can find a smaller 123 pattern.

In my idea, the best time frame for 123 pattern is H4.

What is your idea?

Thanks XUX99! Looking forward to it.

Hi my friend

I have other questions, Can you tell me

 

1. when did you start working with this method (I mean 1-2-3)?
2. What currencies do you suggest for this method?
3. What is your favorite time frame for 1-2-3 strategy?
4. and how many pips have you received yet ?

Thanks a lot for your attention.

Yes there are times when the zig zag does and doesn't work. Depends on the size of the zig zag and market conditions. A larger zig zag has more inertia behind it and will normally go into profit unless there is ranging... (this is where a reverse trade will work!)
I've tested a lot of currencies and there are currency pairs that consistently go against the zig zag so a trade in the opposite direction will go into profit and this will also allow for a smaller stop loss.
Talk more about this and the settings when the Opto 123 with reverse trade option arrives... awesome!

Hi everybody,
I want thankfully everybody who impruve this thread and help to develope the core idea.
I was study your files and demo the last EAs version...so this is what I find.
I do not know if I did well or did bad....but only did what you people said here before and what you see is what I get.
Plis, correct if I can do it better...instead of that...Im happy whit the results,
Tomislav, can you tell me what is the better preset to config the EA?
Thank you and thank you all in advance.
Best regards.
Popeye

New features of Opto123 EA v1.3.
MaxOrders: Maximum allowed number of open orders of the same direction.
ReverseSignals: A long signal opens a short order and vice versa.
LongColour: Arrow colour of long orders and lines.
ShortColour: Arrow colour of short orders and lines.
Pip values should not be multiplied by 10 for 5 digits brokers.

I would first of all like to thank XUX99 for an unbelievable effort!
In response to the other questions I believe that there are things you have to work out for yourself like SL,TP levels and chart TFs. I've learned the hard way... on my own and still am learning and am still striving to make a consistent profit on the Forex Market. The beautiful thing about the zig zag strategy is that it's visual and you can see what is happening right before your eyes. No invisible indicators.
Everyone has a trading style and that's up to the individual. I prefer the 30min,1 hr and 15min charts because they indicate what is happening right now.
GBP/CHF, GBP/AUD, GBP/CAD, AUD/CAD, GBP/JPY, EUR/JPY, EUR/CAD love to go against the zig zag. Try 18-13 ExtDepth on 30 min chart. See for your self. I normally use 18.
CHF/JPY does go with the zig zag but loves to spend a lot of time in draw down (and has more drawdown than profit) so this is where a reverse trade will work. Try 26-18-13 Ext Depth on 30 min chart or even 26-18 on a 15 min chart. TP & SL is up to you.
Late last week a trade on GBP/AUD went into 100 pip drawdown before it went into a 350+ pip profit. A lot of the time it wont go into profit so I'd rather capitalise on the drawdown with a reverse trade of 50+ pips to be safe and a stop loss of 30 or so pips.
AUD/USD and AUD/JPY are consistent winners with the normal zig zag trade 18 Ext Depth on 30 min chart. I'd prefer to trade EUR/USD all the time cause of the low spread but it just get's too messy and ranges and I'm no expert analyst! Try a reverse trade. Same goes with USD/CHF. One day it's Doctor Jeckyll and then it turns into Mr. Hyde after a few major US news events.
USD/CAD shoots through like a rocket at times but this is another one where the reverse trade will work wonders but you have to watch the market.
NZD/JPY was a consistent winner for a long time with the zig zag but only recently has become a culprit where the reverse trade will love this one. But then the market can change after a news event or two so no guarantees.
I've attached a file that might be of interest for those of you who haven't seen it. I would like to use it all the time but because I live in Australia it would entail me getting up at 2.00am so it's not practical at this time.
Good luck with Opto V1.3 and thanks again XUX99 and Mr. Optojay of course.

Wow, guys. This thread has really been busy since I last checked last. Glad to see some coding help.

Thank you to all who have contributed. I have been looking for someone to add additional ideas to the original EA and it looks like some have already been added!

I will have to put a renewed effort into developing this further. In fact, just the other day I was looking for some code to "stop and reverse" similar to the PowerSM EA here:
http://www.forexfactory.com/showthread.php?t=75394

Seems like something similar to this has been implemented in version 1.3.

Cheers,
Jay

Unfortunately, v1.3 isn't triggering any trades on backtesting...and there aren't any error messages in the journal to figure out why. This version will run without FFCal present, right? (ie. I assume using FFCal is optional)

Is it possible to implement a "stop and reverse" function when a SL is reached? Thanks!

Unfortunately it's not opening any trades in forward testing for me. Loaded v1.3 last night, and nothing. I have FFCal on charts too.

Once it wasn't working for me because I left ECN Broker parameter on false. Can't think of anything else. It works perfectly... there's no doubt.