SHI Channel trend trading auto-trader by Steve Hopwood

SERIOUS WARNING

1. Most Forex traders lose all their money.
2. Using the robots posted here in trading Forex does not guarantee success.
3. Trading these robots could lead to serious financial loss.
4. Trading these robots without understanding their underlying trading strategies guarantees traders will lose their money.

Earlier today, I received an email from Vinesh. I reproduce part of it here:

Steve,
I know you may not like this but I'm going to ask a favour of you anyway.
Can you combine and fully automate Lawgirl's EAs which you have coded yourself with SHI TL indi?

It will avoid sitting and staring at the screen for set ups of oppurtunities on every pair and time frames (which is the main reason for EAs in the 1st. place).

I sincerely hope you'll think over this.

Vinesh

I had a lot of initial enthusiasm for lawgirl's system; she has trend-trading sussed. After some early success, I found it did not work for me; I would miss entries; I would set my 'waiting' ea's and forget I had set them; I would just plain get the trend wrong. I gave up - I am not exactly short of trading methods.

As soon as I loaded up the indi Vinesh was discussing, I realised that there is potential for adapting The Beast and all his features to trend rather than counter-trend trading. This is what I have spent today doing.

So, you can blame Vinesh for the need to hammer your demo-trading computers even more.

The Shi indi gives a trend direction and draws the trendlines The bots detect an uptrend, downtrend or range depending on the slope of the indi and/or the value of Rsi(3). In an uptrend, it buys a touch/pierce of the bottom trendline; in a downtrend it sells a touch/pierce of the top trendline; in a range, it does both.

'The Beast's trend trading alter-ego' is an adaptation of The Beast (hence its name) so all the Recovery/Hedging features are in place. There are some differences, so see the user guide for full details.

If this bot turns out to have long-term legs, it might be possible to combine it with The Beast to create one robot. We shall see.

'Lawgirl's Tame Beastie' is an attempt at automating her system, using Rsi(3) as detailed in her thread for the setup, and a touch of the Shi trend line as the trigger. Visit http://www.forexfactory.com/showthread.php?t=257876 to read about how to trade the trend Lawgirl style.

http://cdn.forexfactory.com/images/s...m/big_grin.gif
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Another option to backtest:

Save a template with the indi with the same name of the EA. In this case is "the beast's trend trading alter-ego.tpl"

When you backtest the EA it will automatically load the template.

Nice work Steve

I have been giving this a whirl in backtest and it looks good, however it gives up a heap of profit on any big counter trend moves. Before this happens though it takes a heap of really good trades. This leads me to believe that we need either stop loss or recovery - neither of which I could get to work.

It could be something I'm doing but it will backtest with recovery set to true - but wouldn't take any recoveries for me. If I have UseStopLoss set to true however, it won't backtest at all for me.

If it's not too much hassle Steve, could you please also add a hard stop loss variable so I can backtest that and compare with the current stop loss options (when I can get them to work for me)?

Cheers

Hells Bells and buckets of blood extracted by terrible torture of any passing victim. This made me think I had wasted the entire day.

I had forgotten that I had coded a similar but different robot for Canuct last week and uploaded the wrong one here.

The correct one should be in post 1 now - The Beast's trend trading alter-ego.mq4. See the subtle difference in the hyphen and the one you downloaded earlier?

At least, I bloody well hope so. CanuctCt, I hope you are keeping your version intact because I am deleting it from my system.

Cheers Kiwi. Your last caused a flurry of activity here.

The ea I intended to upload to post 1 is definitely the one there now. Without your post, all sorts of chaos could have ensued.

Sorry folks.

thanks steve..

been playing with back test...does not seem to trade very often - held one trade for about 1 year before it closed it in a loss..

may need to fiddle around with settings..

What timeframe is that supposed to work on?
Stupid question Steve... sorry, don't ban me!

Big big big big big changes. Please read the update in post 1 for details.

Hi Steve,
I think I have a found a problem with the EA. If you watch the EA in a visual backtest then the Upper and Lower trend line values are sometimes swapped over; lower becomes upper and upper becomes lower. See attached image. It even does this with the Indicator attached to the chart so I think it is a problem with this code.
I have not managed to locate the problem yet - but I am looking into it. Instead I have made a crude modification to your EA which I have attached. The modification is in the function called 'GetSHI()'. I check to see if the values have been swapped over and if they have swap them back again. I have attached the updated code. Seems to work alot better in backtesting now.

Hope this makes sense.

PeeJay

has anyone back tested this?

I have.. both versions.. (Steve's and Pejatwk's). I have back tested it from 2007 onwards.. not bad.. until it hits a trend and then it starts to crash.. which i thought was not the point.

It crashed in 2008 when the change in trend occurred.

Maybe there some some settings which i have not discovered yet. Anyone else?

Cheers PJ. I am not arguing. I have simply adopted your code and posted it in post 1. I hate indicator code and will be happy if I never have to look at the Shi code ever again.

Many thanks.

Next up is to put this onto a demo and see if it does what is intended. Recovery and hedging results are uncertain, to say the least.

No idea if this bot has any potential or not. We shall see.

I left a bug behind in the conversion from single to mtf Shi use. This will cause invalid stop errors most times TBAE tries to send a trade.

Fix in post 1.

In adapting TBAE to Lawgirl's system, I discovered a bug in the take profic calculation. The fix is an essential download.

hey Steve, hey folks,

i didn't watch the ea in detail, but how it draws the trendlines and what do u do when it seems like a BO trade but prices retraces back into BO channel?

I have imported the Shi code into the bots and adapted it to mtf use.

There is no provision for breakout trading.

ok well,
when does the EA exactly trigger a trade?

Oh dear!.........................I feel a ban coming on. :>))))

TP worked OK on TBAE Steve, had a USDCAD short taken at 15:11 (GMT) which closed spot on the middle line at 17:22 for a nice 42 pips. :>)

LOL

anyone backtested this through 2008 on visual mode?