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Attachments: A Simple London Breakout V.2
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A Simple London Breakout V.2

Kumo,

That's pretty much how exactly how I was trading for a while, just using the TP1 and one trade per long/short. I would re-enter a trade if the price went through the "buffer zone" of the box. No Martingale for me, either. I found that I was getting stopped out a lot, and didn't really have a great way to recoup losses. on average I was getting about 300-500 pips a month per pair, which was fine based on my MM. I've switched up my basic strategy now to create
10-20 pip box, and using all tiers. This has been way better at saving earnings for me!

Squalou,

I'm exited to hear about the changes coming to the EA! In the future will it be possible to make T3 a stop point once it's been crossed, and the actual TP point say, 30 pips beyond it?

Thanks again for the tools to make some serious pips!
Quoting squalou
Hi Mer,

Welcome back!

I had started updating the indi with some of Johnny suggestions, and that lead to the version v3.2b which is the latest current version.

Please note that, as i always did, i kept the original behaviour as the DEFAULT BEHAVIOUR in the latest indi.
That is so everyone can keep using the same settings yet loading the latest indi.
Every improvement I make are considered as "options", so if you want to use them, you need to alter the corresponding settings from their default values. They are disabled by default.

In short:...
Hi Sqaulou

Thanks for all your work with the EA.
I was wondering if it would be possible to put an option in there to just open one trade only and then just take profit at TP1.
I only test on a small live account and have a goal of 30 pips per day.

Hopefully you can add this to your long list of updates

Thanks again
Simmo
Quoting simmo24
Hi Sqaulou

Thanks for all your work with the EA.
I was wondering if it would be possible to put an option in there to just open one trade only and then just take profit at TP1.
I only test on a small live account and have a goal of 30 pips per day.

Hopefully you can add this to your long list of updates

Thanks again
Simmo
Simmo

This is already the case.
Set TP3Factor=0 will use only Trade #1/TP1.

Post #485 where the EA v1.2b was posted has the full release history.
You can also read the comments within the EA source code.

extern double TP3Factor = 2.618; // if >=10, this will be taken as FIXED PIPs rather than a factor of the box size; if 0, Trades 2&3 will NOT be sent (only Trade 1);

Cool, right ?

SQ
Are the settings available for this template at some location for mt4?
@ Squalou:

It is time I came out of the woods to say how much I admire your ideas and coding skills. I have followed you on the Steve Hopwood threads with great relish, but as a junior member was not able to comment or contribute. I am a FF newbie, but not a new trader as I explained when using Steve's newbie thread on Epsilon Megastar to try to praise you both at this post:

http://www.forexfactory.com/showpost...3&postcount=92

Then I found you on this thread and became excited about this work, so I concentrated on learning it. I was previously excited about your

modification of Steve's Super Signal EA and suggested improvements that you could use to make it much better. I hope you will put your SS EA on the back burner for a new thread. Here is the post:

http://www.forexfactory.com/showpost...1&postcount=93

But what Mer, you and Johnny have done in this thread is amazing. I am sad that there has been so much bickering, http://cdn.forexfactory.com/images/icons/icon9.gifbut I am really excited about
your EA version 1.3 that will give us the option of using the 3b indi. I have checked out your 3b tpl on several currencies and the results are stunning. I think this potentially is the best EA I have ever seen for consistency and reward/risk.

I was going to suggest using the Super Signal indi for direction changes, and/or the Trade Signals with SMA6 filter that you and Steve Hopwood developed. Frankly, the super signal indi seems to be the fastest for determining direction changes, but there are problems with it as I explained in the above post. Nevertheless, I look forward to testing version 1.3 as soon as you post it. Version 1.2b has worked very well with default values, over 10% gain in one week using mini lots in a 10k demo account. There are losses that I believe Johnny's ideas will eliminate most of them.

I plan to contribute results when I can, but I do consulting work and will be out of the net traveling overseas soon. I look forward continued success in this thread.

ForexPete
Hi!

Im interested in breakout strategies, but never used EA

What mean if I have turn on the expert advisor and there is statement: "trading not allowed yet".

Thank you

best regards
Quoting Gesek
Hi!

Im interested in breakout strategies, but never used EA

What mean if I have turn on the expert advisor and there is statement: "trading not allowed yet".

Thank you

best regards
Check the readme file provided by Squalou with the EA or go read the thread, it explains which setting you did not setup in the EA to actually start trading.
Quoting xmph
Check the readme file provided by Squalou with the EA or go read the thread, it explains which setting you did not setup in the EA to actually start trading.
Thank you for advice, Ive read the txt and also the thread, but for my bad english I dont understand whats wrong. sorry. maybe I will try again and again...
Quoting Gesek
Hi!

Im interested in breakout strategies, but never used EA

What mean if I have turn on the expert advisor and there is statement: "trading not allowed yet".

Thank you

best regards

Yes, you must have the "Expert Advisors" button turned ON (green) on the top toolbar of mt4 to enable EAs to run.

SQ
Quoting mer071898
The default box times are from 05:00 to 08:00 GMT and we will not place any new trades after 17:00 GMT on Fridays as we do not want to get caught up in any gaps over the weekend. In fact, if you are showing any sign of profitability, I would suggest closing the trade and not holding them over the weekend. If your broker is GMT +0, you do not have to change anything. But if your broker for example is GMT +2 as with FXCBS (this is the broker I will be using for my examples), just add 2 hours to all the times to be correct.
Excuse me, I'm new in this thread and I have a question about times. You wrote that box times are from 05:00 to 08:00 GMT but default value for StartTime, EndTime and SessionEndTime in 3 Tier London Breakout V.3.1.mq4 file are different:
StartTime = "06:00"
EndTime = "09:14"
SessionEndTime= "04:30"

What time should I use when my broker is in GMT +1 + additional 1 hour for DST time zone? Thank you very much in advance for your answer.

Fica
Quoting ForexPete
@ Squalou:

It is time I came out of the woods to say how much I admire your ideas and coding skills....
Hi Pete,

thanks for the congrats, i apreciate.
I must admit i haven't followed-up with the SS-EA thread lately, and kind of jumped out of it several weeks ago... NNB and LBO work had taken over.
Pardon me for not having noticed your posts there...

Thanks for your suggestions, i shall see how i can manage them.

I will PM Steve to ask that he adds you to his "buddy list" so you can post in his threads

I still have the SS EA improvements in my backpack, silently waiting for my return... i have made some interesting coding on the "auto-optimiser"
feature that i wanted to add to the SS EA, however not gone all the way to having it completely debugged yet, but it is in a promissing state.
I'll get this done some day.
I also let Steve carry on the NNB EA, and it has now developped pretty well, and new excellent coders have joined the thread (maxou, phover, ...)
I just can't do everything at the same time.
I don't know how Steve can get so many EAs posted -- well, yes, we all know how he does: he must have found a way to exploit Einstein's relativity principles: his biological clock displays 48 hours a day ...

Scoobs has also been a very nice source of "pro traders insight" information indeed, i love his posts!

SQ
Hi guys,

Could you tell me if this part of EA is working by default or I need to activate it or there is a problem? If it is a second option how I can activate it?

//buy(sell) on Buy(Sell)Entry crossup(down);
//Strategy suggests to re-enter only once a (M15) candle closes inside the box.

Very good thread and very good EA.

Thank to everybody.
Quoting ForexPete
@ Squalou:

It is time I came out of the woods to say how much I admire your ideas and coding skills....

Pete, you're in Steve's Buddy list now... go ahead!

Thanks Steve!

SQ
Quoting ejlamarque
Hi guys,

Could you tell me if this part of EA is working by default or I need to activate it or there is a problem? If it is a second option how I can activate it?

//buy(sell) on Buy(Sell)Entry crossup(down);
//Strategy suggests to re-enter only once a (M15) candle closes inside the box.

Very good thread and very good EA.

Thank to everybody.

This is the dafault.
EA will re-enter based on M15 PA;

EA v1.3 will have an option to specify the timeframe for re-entry, so you can re-enter if M5 or even M1 bars close inside the box instead of M15 bars.


Sq
Squalou:

Thanks for putting me on Steve's threads. I look forward to contributing to his threads, as well as to yours and Johnny's if he, as I hope, opens a new thread with his ideas. I think that the super signal indi could help with his system to establish multiple boxes during the trading day.

I know it is impossible to do everything you would like to do in forex and agree with you on Steve Hopwood's amazing work. I also don't know how he does it. At some point I would like to see you open a thread to develop further the SS EA. I really would like to help with that work as well.

Last night I adjusted the parameters in EA 1.2b to use Johnny's method of trading Mer's strategy, but it did not work well. the 10 pip box allowed too many multiple entries that led to multiple small losses. I think a 20 pip box would work better, but I did check these trades on a separate chart with the 3b template and there would not have been any losses. I am eagerly awaiting testing your forthcoming EA 1.3 with the options you have identified. It should be a real winner.

Having said all of this. I will be completely out of the net for 3 weeks starting next Wednesday. My wife just retired from her career and we are going on a celebration vacation in Europe,http://cdn.forexfactory.com/images/icons/icon10.gif flight to Venice, a cruise to the Greek Isles, then 3 days each in Florence and Venice before flying back to the states. I am not taking a laptop to keep my priorities straight!

Pete
I have been testing the ea for a couple weeks and it dosnt take of a trade at the first tp.

It seems to set all 3 TPs to target 3.

Do I have the wrong version?
Hello everybody.

I started try this strategy but I don't know what should I do with pending order. I entry 3 buy stop and 3 sell stop pending orders. Price goes up and hits my entry point. Now I have only 3 sell stop pending orders. What is your strategy for these pending orders? Do you delete them or do you wait for some times?

Thank you very much for your answer.

Fica
I have had some success with filtering entries/exits using ALF and MTF ALF with TVI candles. I won't clutter this thread, but maybe someone will find this useful:

BOWFALF - Breakout with ALF Filter

FW

PS: many many thanks to the people here who started and developed this system!
Isolate yourself from the herd
Quote
Hello everybody.

I started try this strategy but I don't know what should I do with pending order. I entry 3 buy stop and 3 sell stop pending orders. Price goes up and hits my entry point. Now I have only 3 sell stop pending orders. What is your strategy for these pending orders? Do you delete them or do you wait for some times?

Thank you very much for your answer.

Fica
It's really up to you. You can close them if you wish but it is best to leave them until the current series runs it's course because if you have a reversal then the other set of pending orders may get hit since you already have them in place.

Quote
I have had some success with filtering entries/exits using ALF and MTF ALF with TVI candles. I won't clutter this thread, but maybe someone will find this useful:

Thanks, look forward to stopping in.
Quoting squalou
Simmo

This is already the case.
Set TP3Factor=0 will use only Trade #1/TP1.

Post #485 where the EA v1.2b was posted has the full release history.
You can also read the comments within the EA source code.

extern double TP3Factor = 2.618; // if >=10, this will be taken as FIXED PIPs rather than a factor of the box size; if 0, Trades 2&3 will NOT be sent (only Trade 1);

Cool, right ?

SQ
Way cool !!

Thanks Sqalou.
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