Multiple Trading systems gbpusd only

Quoting robdee

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I think the individual setup of 123Patterns is flexible enough to suit different trading styles, timeframes, and number of times you want to trade.

For example, my trading style is to look for just one or two good trades per day. If I can succeed in that goal without too much work, then I am very happy.

In my case M5 normal chart set with more filtering (ZigZagDepth=12) gives me the signals I am interested in. Not too many, not too few.

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Quoting howard

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And below are the same charts fo a 4 digit broker
as we can see there is no difference between 4 and 5 digits

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Quoting zamanib

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Yes both are profitable-- 1 or 8 ( the 8 depth give 30 pips)

I tought so there will be not much different with 5digits

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Quoting zamanib

Disliked

Did anyone saw a sell signal on 123 indicator-- zigzag depth 1
there was a sell signal at 16045(this was 2) now the signal not there anymore
robdee -- may you look into this

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Quoting chaveznqoos

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Yes, zamanib, it´s OK, repaints
Regards.

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Quoting robdee

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123Patterns is based on ZigZag (comes with MT4).

If ZigZag is changing some of it's lines as price action progresses then valid setups will become invalid. I suspect that this will be more likely with very low depth setting. This causes ZigZag to find many small reversal points, and then redraw them I suppose. ZigZag maybe never designed for depth=1 ?

I am looking into this question. To get a better view of this I add the ZigZag indicator to my charts. I make the ExtDepth equal to the ZigZagDepth so it matches.

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Quoting zamanib

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that is not good if it repaints-- then all our efforts is waste--
I hope robdee can fix this problem

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Quoting zamanib

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I will try 8 depth-- and I think both repaint-- I will test it and see

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Quoting robdee

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Yes they will both repaint, because valid setups become invalid.

A correct 123-break pattern is made invalid when price breaks back above #3.

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Quoting robdee

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OK, I'm trying to achieve a balance here between usability and strict interpretation of all the 123 rules. There are other 123 indicators available that give you every 123 pattern possible. That's not what my experiment is trying to achieve. My 123Patterns indi is an attempt to find the parameters that define the difference between great 123 setups and lame 123 setups.

If you really want every possible 123 setup in both directions I don't think 123Patterns is the right tool for that job.

I am working on some new logic for...

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//+-----------------------------------------------------------+
//| MT4 CUSTOM INDICATOR                   123PatternsV5.MQ4  |
//| copy to [experts\indicators] and recompile or restart MT4 |
//+-----------------------------------------------------------+
//| Free software for personal non-commercial use only.       |
//| No guarantees are expressed or implied.                   |
//| Feedback welcome via Forex Factory private message.       |
//+-----------------------------------------------------------+
#property copyright "Copyright © 2010 Robert Dee"
#property link      "www.forexfactory.com/robdee"

#define INDICATOR_VERSION    20101102       // VERSION 5
#define INDICATOR_NAME       "123PatternsV5"
#define RELEASE_LEVEL        "Public"
#define MT4_BUILD            226
#define HOUR                 3600.0

#property indicator_chart_window
#property indicator_buffers 8
#property indicator_color1  DodgerBlue   // UpperLine
#property indicator_color2  OrangeRed    // LowerLine
#property indicator_color3  LimeGreen    // Target1
#property indicator_color4  LimeGreen    // Target2
#property indicator_color5  DodgerBlue   // BuyArrow
#property indicator_color6  OrangeRed    // SellArrow
#property indicator_color7  DodgerBlue   // BullDot
#property indicator_color8  OrangeRed    // BearDot
#property indicator_width1  1
#property indicator_width2  1
#property indicator_width3  1
#property indicator_width4  1
#property indicator_width5  3  // BuyArrow
#property indicator_width6  3  // SellArrow
#property indicator_width7  3  // BullDot
#property indicator_width8  3  // BearDot

extern string Notes           = "GBPUSD 15pip RangeBars Setup";
extern int    ZigZagDepth     = 1;
extern double RetraceDepthMin = 0.4;
extern double RetraceDepthMax = 1.0;
extern double Target1Size     = 1.5;
extern double Target2Size     = 3.0;
extern bool   ShowAllLines    = False;
extern bool   HideTransitions = True;

// indicator buffers
double UpperLine[];
double LowerLine[];
double Target1[];
double Target2[];
double BuyArrow[];
double SellArrow[];
double BullDot[];
double BearDot[];

double   firsthigh, firstlow, lasthigh, lastlow, prevhigh, prevlow, signalprice;
datetime firsthightime, firstlowtime, lasthightime, lastlowtime, prevhightime, prevlowtime, signaltime;
datetime redrawtime;  // remember when the indicator was redrawn

int     signal;
#define NOSIG   0
#define BUYSIG  1
#define SELLSIG 2

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
{
int i;
for(i=0; i<=7; i++) SetIndexEmptyValue(i,EMPTY_VALUE);
if(ShowAllLines == True) SetIndexStyle(0,DRAW_LINE); else SetIndexStyle(0,DRAW_NONE);
if(ShowAllLines == True) SetIndexStyle(1,DRAW_LINE); else SetIndexStyle(1,DRAW_NONE);
SetIndexStyle(2,DRAW_LINE);
SetIndexStyle(3,DRAW_LINE);
SetIndexStyle(4,DRAW_ARROW); SetIndexArrow(4,SYMBOL_ARROWUP);
SetIndexStyle(5,DRAW_ARROW); SetIndexArrow(5,SYMBOL_ARROWDOWN);
SetIndexStyle(6,DRAW_ARROW); SetIndexArrow(6,159); // BullDot (WingDings character)
SetIndexStyle(7,DRAW_ARROW); SetIndexArrow(7,159); // BearDot (WingDings character)
SetIndexBuffer(0,UpperLine);
SetIndexBuffer(1,LowerLine);
SetIndexBuffer(2,Target1);
SetIndexBuffer(3,Target2);
SetIndexBuffer(4,BuyArrow);
SetIndexBuffer(5,SellArrow);
SetIndexBuffer(6,BullDot);
SetIndexBuffer(7,BearDot);
IndicatorShortName(INDICATOR_NAME);
IndicatorDigits(Digits);
if(ShowAllLines == True)
   {
   SetIndexLabel(0,"UpperLine");
   SetIndexLabel(1,"LowerLine");
   }
if(ShowAllLines == False)
   {
   SetIndexLabel(0,"");
   SetIndexLabel(1,"");
   }
SetIndexLabel(2,"Target1");
SetIndexLabel(3,"Target2");
SetIndexLabel(4,"BuyArrow");
SetIndexLabel(5,"SellArrow");
SetIndexLabel(6,"");
SetIndexLabel(7,"");
// message to the experts log (shows in reverse order)
if(IsTesting() == False)
   {
   Print("Copyright © 2010 Robert Dee, All Rights Reserved");   
   Print("Free software for personal non-commercial use only. No guarantees are expressed or implied.");
   Print(INDICATOR_NAME+" indicator version "+INDICATOR_VERSION+" for "+RELEASE_LEVEL+" release, compiled with MetaTrader4 Build "+MT4_BUILD);
   }
} // end of init()

//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
{
if(redrawtime == Time[0]) return(0); // if already redrawn on this candle then do no more
else redrawtime = Time[0];           // remember when the indicator was redrawn

double   zigzag, range, retracedepth, one, two, three;
datetime onetime, twotime, threetime;
int      shift = Bars-1;
while(shift >= 0)
   {
   // UPPERLINES and LOWERLINES based on ZIGZAG
   UpperLine[shift] = UpperLine[shift+1];
   LowerLine[shift] = LowerLine[shift+1];
   Target1[shift] = Target1[shift+1];
   Target2[shift] = Target2[shift+1];
   //BuyArrow[shift] = EMPTY_VALUE;
   //SellArrow[shift] = EMPTY_VALUE;
   BullDot[shift] = EMPTY_VALUE;
   BearDot[shift] = EMPTY_VALUE;
   zigzag = iCustom(NULL,0,"ZigZag",ZigZagDepth,5,3,0,shift);
   if(zigzag == High[shift])
      {
      UpperLine[shift] = High[shift];
      firsthigh = prevhigh; firsthightime = prevhightime;
      prevhigh = lasthigh;  prevhightime = lasthightime;
      lasthigh = zigzag;    lasthightime = Time[shift];
      }
   if(zigzag == Low[shift])
      {
      LowerLine[shift] = Low[shift];
      firstlow = prevlow; firstlowtime = prevlowtime;
      prevlow = lastlow;  prevlowtime = lastlowtime;
      lastlow = zigzag;   lastlowtime = Time[shift];
      }

   ///////////////////////////
   // BULLISH BREAK ABOVE #2
   one = prevlow; onetime = prevlowtime;
   two = lasthigh; twotime = lasthightime; if(twotime == Time[shift]){two = prevhigh; twotime = prevhightime;}
   three = lastlow; threetime = lastlowtime;
   if(one - two != 0) retracedepth = (three - two) / (one - two);  // retrace depth
   // signal rules
   if(signal != BUYSIG)
   if(retracedepth > RetraceDepthMin) // minimum retrace depth
   if(retracedepth < RetraceDepthMax) // maximum retrace depth
   if(Low[shift] < two)               // breaking candle low is below two
   if(High[shift] > two)              // breaking candle high is above two
      {
      range = MathAbs(two - three);                  // range is the distance between two and three
      Target1[shift] = two+(range*Target1Size);
      Target2[shift] = two+(range*Target2Size);
      BuyArrow[shift] = (three+High[shift])/2;       // arrow is halfway between three and breaking candle high
      BullDot[iBarShift(NULL,0,onetime)] = one;      // ONE
      BullDot[iBarShift(NULL,0,twotime)] = two;      // TWO
      BullDot[iBarShift(NULL,0,threetime)] = three;  // THREE
      signal = BUYSIG;
      signaltime = Time[shift];
      signalprice = BuyArrow[shift];
      }

   ///////////////////////////
   // BEARISH BREAK BELOW #2
   one = prevhigh; onetime = prevhightime;
   two = lastlow; twotime = lastlowtime; if(twotime == Time[shift]){two = prevlow; twotime = prevlowtime;}
   three = lasthigh; threetime = lasthightime;
   if(one - two != 0) retracedepth = (three - two) / (one - two);  // retrace depth
   // signal rules
   if(signal != SELLSIG)
   if(retracedepth > RetraceDepthMin) // minimum retrace depth
   if(retracedepth < RetraceDepthMax) // maximum retrace depth
   if(High[shift] > two)              // breaking candle high is above two
   if(Low[shift] < two)               // breaking candle low is below two
      {
      range = MathAbs(two - three);                  // range is the distance between two and three
      Target1[shift] = two-(range*Target1Size);
      Target2[shift] = two-(range*Target2Size);
      SellArrow[shift] = (three+Low[shift])/2;       // arrow is halfway between three and breaking candle low
      BearDot[iBarShift(NULL,0,onetime)] = one;      // ONE
      BearDot[iBarShift(NULL,0,twotime)] = two;      // TWO
      BearDot[iBarShift(NULL,0,threetime)] = three;  // THREE
      signal = SELLSIG;
      signaltime = Time[shift];
      signalprice = SellArrow[shift];
      }

   // TARGET LINE RULES
   if(signal == BUYSIG)
      {
      if(Low[shift] > Target1[shift]) Target1[shift] = EMPTY_VALUE;
      if(Low[shift] > Target2[shift]) Target2[shift] = EMPTY_VALUE;
      if(Close[shift] < LowerLine[shift]) signal = NOSIG; // reset to allow a new signal
      }
   if(signal == SELLSIG)
      {
      if(High[shift] < Target1[shift]) Target1[shift] = EMPTY_VALUE;
      if(High[shift] < Target2[shift]) Target2[shift] = EMPTY_VALUE;
      if(Close[shift] > UpperLine[shift]) signal = NOSIG; // reset to allow a new signal
      }

   // HIDE LINE TRANSITIONS
   if(HideTransitions == True)
      {
      if(UpperLine[shift] != UpperLine[shift+1]) UpperLine[shift+1] = EMPTY_VALUE;
      if(LowerLine[shift] != LowerLine[shift+1]) LowerLine[shift+1] = EMPTY_VALUE;
      if(Target1[shift] != Target1[shift+1]) Target1[shift+1] = EMPTY_VALUE;
      if(Target2[shift] != Target2[shift+1]) Target2[shift+1] = EMPTY_VALUE;
      }

   shift--; // move ahead one candle
   }

///////////////////
// STATUS MESSAGE
if(IsTesting() == False)
   {
   string msg = INDICATOR_NAME+"  ";
   if(signal == NOSIG) msg = msg + "NOSIG  ";
   if(signal == BUYSIG) msg = msg + "BUYSIG  "+ TimeToStr(signaltime,TIME_MINUTES)+"  "+DoubleToStr(signalprice,Digits)+"  ";
   if(signal == SELLSIG) msg = msg + "SELLSIG  "+ TimeToStr(signaltime,TIME_MINUTES)+"  "+DoubleToStr(signalprice,Digits)+"  ";
   msg = msg + "ZigZagDepth="+ZigZagDepth+"  ";
   //msg = msg + "RetraceDepth="+DoubleToStr(RetraceDepthMin,2)+" "+DoubleToStr(RetraceDepthMax,2)+"  ";
   msg = msg + "Target1="+DoubleToStr(Target1Size,2)+"  ";
   msg = msg + "Target2="+DoubleToStr(Target2Size,2)+"  ";
   Comment(msg);
   }
}// end of start()

//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
{
// cleanup display buffers
for(int i=0; i<Bars; i++)
   {
   UpperLine[i] = EMPTY_VALUE;
   LowerLine[i] = EMPTY_VALUE;
   Target1[i] = EMPTY_VALUE;
   Target2[i] = EMPTY_VALUE;
   BuyArrow[i] = EMPTY_VALUE;
   SellArrow[i] = EMPTY_VALUE;
   BullDot[i] = EMPTY_VALUE;
   BearDot[i] = EMPTY_VALUE;
   }
Comment("");   
}// end of deinit()