123 Pattern EA

I did think of that after I deleted the chart. It was a selling entry point. It looked like a buy position became active at the same (without a buy trade open) although I have turned hedging off.
I applied ATR indicator to chart on NZD/JPY 30 min. It states ATR(14) 0.0939 on the left and on the right it states 0.2513 high and 0.0743 low. I have three values and four parameters to fill. Which value goes where? I feel like I'm in kindergarten again lol. My original zig zag settings are 18-1-1 ExtDepth etc...

Min12distance:
Max12distance:
Min23distance:
Max23distance:

ATR changes in real time and a value of 0.0939 on the left, means about 9.39 pips. The distance is calculated by dividing the approximate desired pips distance with ATR. If distance should be about 50 pips then the ATR multiplier is 50/9.39=5.32. Of course, in a more volatile period, ATR increases and cosequently the distance also increases, making it adaptable to market behaviour. Below is an example of ATR based values:
Min12Distance 5.32
Min12DistanceType 1
Max12Distance 8
Max12DistanceType 1
Min23Distance 3
Min23DistanceType 1
Max23Distance 6
Max23DistanceType 1

Awesome XUX99 for the generous help. I've been testing Opto 1.4 and so far I've realised that Opto 1.4 only places a single trade at a time. The previous versions pumped out tens and tens of trades when permitted but Opto 1.4 only puts out a single trade even though I've set the max trades to five. The pumping out of many trades is what gave the original Opto's their appeal. I've also attached a gif of a trade example where the trade had closed out well before the TP and I wasn't home when it happened so I'm at a loss as to why. I've listed the parameters that I've changed on the GBP/USD chart. The trade 0.1 lot closed at -$1.48
trend line exit-true
max orders-5 (only one order placed)
take profit-45
break even-40
lock profit-20
hedge-true (default-this might have been the problem with the USD/CAD trade mentioned before).
Lots-0.1
Money management-off

No stop loss was set just trend line exit

I apologise in advance if I've just done something silly as this is a rather sophisticated EA but I know for sure that it isn't spitting out the trades like the older version. Is there a setting I can adjust for that. It pains me a little to keep asking for help but I realise that it's for the good of this EA and the thread.
Tom.

I've been testing Opto 1.4 and so far I've realised that Opto 1.4 only places a single trade at a time. The previous versions pumped out tens and tens of trades when permitted but Opto 1.4 only puts out a single trade even though I've set the max trades to five.

Only one trade per pattern is opened. An additional trade can be opened when the next 123 pattern is formed.

I've also attached a gif of a trade example where the trade had closed out well before the TP and I wasn't home when it happened so I'm at a loss as to why.

I can't find a reason, you can use the Screenshots option for help. I shall soon post a new version

I hope this helps...

How would this work if I only wanted to start out on 1 currency (The E/U)? My manual trading gives me about 3-5 signals a month. Does that sound about right?

I personally find it amazing (not good amazing) how much this market can change in a short period of time. The zig zag settings I posted previously do still work but no where near as well as they did a few months ago. The zig zag patterns on a lot of the currencies are not being adhered to.
It looks as though the larger TF's are the better bet for consistency (told you so some would say). It's a challenging business the "Old" Forex.

Opto123 v1.42 has minor improvements in trading logic.

Nice work with Opto so far xux99

What are the minor improvements with 1.42 ?

Top effort!

Long and short signals can be simultanuously valid. The number of trades per 123 pattern is now user defined.

Thanks for the details xux99

Hello Optojay,
please could you attach (or send me) original version of this EA from Ronald Raygun without matrixebiz´s modifications (probably version 1.0)?
Thank you very much.

Maya,

Here is the original version.

Many thanks!

The EA is working nicely but there is something odd happening. The SL is not correctly calculated, and it seems that the trailing stop is also not working well. Please see attached.

Thanks again for the time invested improving this great EA.

Aimak

VisibleSL and VisibleTP are multipliers of the hidden values, not pips, so you shouldn't set them to so big numbers. According to the user guide "The stop loss is relative to point 1 or point 3 levels". You have set Point1or3SL to 1 and to StopLoss to 70. This means 70 pips are added/subtracted to Point 1 level. I suppose you want to place stop loss at Point 1 level exactly, in this case set StopLoss to 0. What is the trailing stop problem?

Hi Xux can you please explain the SL i set it on SL1 or 3 to 3 Thinking that a retracement to 3 should trigger SL but on 2 occasions it overshoots the SL Apart from the above the ea is great
Thank you
Gert

Make sure StopLoss is 0 as it is added to Point 3 stop loss level.

Stoploss is set to 0
I have now set TrendlineExit to true to see what happens

I have read and followed this thread with great interest. Except. . .... Opto123 EA v1.4 and v1.4.2 that are posted in the zip file extract as .exe and behaves like a virus when I run it thus getting quarantined by Norton Antivirus and deleted. So. . .. why are the latest versions .exe, not even .ex4 which would make sense?

Can someone post the .mq4 or the .ex4 version 1.4.2 please and thank you.