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Indicators development for T101's not very simple method

  • #3,241
  • Nov 1, 2010 11:16am Nov 1, 2010 11:16am
victor,

OK.

At the top of the code, you have string Pair_suffix. But it does not have extern in front of it, so it's an internal input, which means you have to open MetaEditor.

Then in init function every time we have pair name associated with Pair array, we also have +Pair_suffix, so that he suffix is put on the pairs. Then in start, Pair array is used in for loop to get open, close, high, low, and volume for all pairs.

But what needs to happen to is make getting this suffix to be automatic.

so in init function, I would put this code:

Pair_suffix=StringSubstr(Symbol(),6,StringLen(Symbol())-6);

The code that is already there concerning Pair_suffix, along with this at top of init function, should take care of it I would think.

Regards,

Don


Quoting victor57
Hi, Don

I'm afraid neither the T101 indi nor the EA that has sliding scripts to open & close trades with has any user inputs for those changes. Perhaps it is possible by going into mq4 codes, but I'm not very well equipped to be able to do that appropriately.

Regards,
  • #3,242
  • Nov 1, 2010 12:35pm Nov 1, 2010 12:35pm
Thanks zznbrm for the explanation why these basket charts look like that....

some things are now more clear to me
  • #3,243
  • Nov 1, 2010 4:11pm Nov 1, 2010 4:11pm
Quoting zznbrm
And this is the problem with the "T101_Indy_PriceHistory_vs-dnk" basket generator - it is not very accurate, especially for higher timeframes. To be more exact, the opens and closes for each bar are exact (those are easy). But the highs and lows of each bar can be very inaccurate. (That's why you see huge wicks on these bars, especially on the higher timeframes.)
zznbrm,

Is your BasketChartScript still available for share? I have an earlier version which unfortunately has expired.
  • #3,244
  • Nov 1, 2010 5:22pm Nov 1, 2010 5:22pm
Quoting krunofx
zznbrm,

Is your BasketChartScript still available for share? I have an earlier version which unfortunately has expired.
I think this is the most recent one:

http://www.forexfactory.com/showpost...70&postcount=1
  • #3,245
  • Nov 1, 2010 10:02pm Nov 1, 2010 10:02pm
Quoting Gvc
Hi rhdtk

Are these the scripts you are looking for?
THanks ,GVC

But i'd like a includes the protection of the account is ea or script , resembling t101_kos_chavo_e, but no one of the four conditions.
  • #3,246
  • Nov 2, 2010 7:02am Nov 2, 2010 7:02am
Quoting zznbrm
I think this is the most recent one:

http://www.forexfactory.com/showpost...70&postcount=1
Tx zz, much appreciated
  • #3,247
  • Nov 6, 2010 2:29pm Nov 6, 2010 2:29pm
ZZ, thanks for this great info. a valuable mql lesson to me.

I've found offline chart seems very essential/useful to nake eye, manual trading, that's why i am interested in your reasoning.

If you have a minute, could you please solve a question for me?

per your description, i might have a wrong impression: the hi/lo of each pair, since they happen at different time, will cause error when adding them up for offline bar. but this error is ONLY FOR CURRENT bar ( ihigh(0), and ilow(0) ).

if 'n>=1', i don't understand why ihigh(n) and ilow(n) will be mistaken too? if say, we calculate Hi/Lo of 2 hours ago on H1 chart for 14 pairs. Do we simply summarize all 14 pairs' ihigh(2), then that is a correct Hi value to me. I don't understand why different timing affect the Hi value.

I sincerely appreciate if you can offer some further insights.

charvo


Quoting zznbrm
For example, let's say you are creating a H1 basket chart using the "T101_indy". The indicator uses H1 chart data for each pair in the basket. For each bar (each hour), the indicator takes the high of each pair during the lifetime of the bar (hour), adds them up, and uses that value for the high of the corresponding basket bar. If the high of each pair occurred at the exact same time during the hour, we would not have a problem. But, of course this is not the case. The high of each pair (more than likely) occurred at different times throughout...
  • #3,248
  • Nov 6, 2010 4:43pm Nov 6, 2010 4:43pm
Quoting charvo
per your description, i might have a wrong impression: the hi/lo of each pair, since they happen at different time, will cause error when adding them up for offline bar. but this error is ONLY FOR CURRENT bar ( ihigh(0), and ilow(0) ).

if 'n>=1', i don't understand why ihigh(n) and ilow(n) will be mistaken too? if say, we calculate Hi/Lo of 2 hours ago on H1 chart for 14 pairs. Do we simply summarize all 14 pairs' ihigh(2), then that is a correct Hi value to me. I don't understand why different timing affect the Hi...
Hi charvo! The error (by error, we mean invalid or "exaggerated" high/low) could be on all bars. A very simplified example:

Let's say we have a basket of 2 pairs: EURUSD and GBPUSD. We want to calculate the high for the Oct 26, 2010 04:00 H1 bar (EDT).

Using H1 data, the high for EURUSD was 1.39688 and the high for GBPUSD was 1.58697. So, adding the two together will give us the high for our basket: 2.98385. This is how many basket generators find the high for the basket - simply adding the highs of the basket pairs for the given timeframe.

But take a closer look at the details of each H1 bar (look at M1 TF to see these details). The high for EURUSD occurred at 04:27. The high for GBPUSD occurred at 04:57. Why would you want to add the EU high from 4:27 and the GU high from 4:57 to get the high for the basket during the entire hour? You are trying to determine the highest price the entire basket reached during the hour. Adding together the individual highest prices of each pair is certainly not the same thing. Thus, the result of using H1 highs exaggerates corresponding basket highs.

IMO, the best solution (balancing data accuracy, PC resource usage, and ease-of-use) is to first calculate the M1 data (tick data would be best, but MT4 does not store tick data history) for the basket. For each M1 bar, you add the open, close, high, low for each basket pair and this gives you M1 data for the basket. Then you use the M1 basket data to determine the high for the basket for a given upper timeframe.

Back to our example to calculate the basket high for the 10.26.2010 04:00 H1 bar. First, calculate the high for each M1 bar within the H1 bar. You would do this (pseudo-code):

BasketHigh[04:00] = EURUSDHigh[04:00] + GBPUSDHigh[04:00]
BasketHigh[04:01] = EURUSDHigh[04:01] + GBPUSDHigh[04:01]
BasketHigh[04:02] = EURUSDHigh[04:02] + GBPUSDHigh[04:02]
...
BasketHigh[04:59] = EURUSDHigh[04:59] + GBPUSDHigh[04:59]

This would give you 60 highs - each one representing the high for a M1 bar within the hour bar. Then, simply get the high from these 60 values and use that for your basket high for the 04:00 H1 bar. Using this method, you would get a high of 2.98251 occurring at 04:52.

I don't think anyone would argue that using M1 data would be more accurate than using H1 data. Also, no one would argue that using tick data would be just about 100% accurate. Depending on one's strategy, the accuracy of these basket highs/lows may or may not make a difference. As with everything else, each trader needs to do what makes sense for their strategy.
  • #3,249
  • Nov 7, 2010 12:50am Nov 7, 2010 12:50am
Thanks a lot, ZZ. Now I understand better the mechanism.

I thought it is only for "current bar" mainly due to my reasoning habit when coding an EA. Apparently, the indicator values are accumulated in a different way that you just described (and I was not familiar due to lack of indicator proramming ).

so in this case, i am guessing that maybe:
when an offline candle shows very short wicks but very strong body (mostly the open/close is Hi/Lo) and breaks a S/R (or a range), market might be starting a move/trend......

thanks again.

Quoting zznbrm
Hi charvo! The error (by error, we mean invalid or "exaggerated" high/low) could be on all bars. A very simplified example:

........ As with everything else, each trader needs to do what makes sense for their strategy.
  • #3,250
  • Nov 7, 2010 9:01am Nov 7, 2010 9:01am
Quoting charvo
so in this case, i am guessing that maybe:
when an offline candle shows very short wicks but very strong body (mostly the open/close is Hi/Lo) and breaks a S/R (or a range), market might be starting a move/trend......
For short upper wick and and an up candle, it is safe to assume most (maybe all) pairs in the basket closed near their highs. That would certainly point to some upward momentum.

Now, combine this information with a break of S/R, then you might have a hint of an upward trend. How good is the hint? Well, I don't know...we may have to look further into it.
  • #3,251
  • Nov 7, 2010 11:03pm Nov 7, 2010 11:03pm
heya ZZ
Can you let me know how to get around the 'no connection to server' error in your script? I have been running it since last week, however when market started again for this week, I am getting this error and my charts aren't updating.
I've tried to redrop the script on, but still the same error. Obviously the server connection is there, so not really sure why it's saying its not.
Thanks for the help
  • #3,252
  • Nov 10, 2010 10:43pm Nov 10, 2010 10:43pm
I am sorry if I am asking a stupid question, but what indicator are you using to display the candles as it is in your chart? Thanks.


Quoting Gvc
Texmade1

I would like to say that i never accept losing trades, but every now and again one goes against us like now. Conceded 2 basket losses but i have recovered $70 so far.

I am trading this as i would my Live account and can not afford huge DD.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: t101 21a10101.gif Size: 74 KB
{Promotion Removed}
  • #3,253
  • Nov 11, 2010 6:06am Nov 11, 2010 6:06am
Hi Antonio

It is Stochastic candles.

Regards
Attached File(s)
File Type: mq4 Stoch Candles.mq4   6 KB | 666 downloads
  • #3,254
  • Nov 11, 2010 9:48pm Nov 11, 2010 9:48pm
Thank you.

Quoting Gvc
Hi Antonio

It is Stochastic candles.

Regards
{Promotion Removed}
  • #3,255
  • Nov 12, 2010 7:04am Nov 12, 2010 7:04am
Quoting Gvc
Hi Antonio

It is Stochastic candles.

Regards
StochCandles is Stochastics set to 30,3,3,SMA,High/Low. When it closes above 50, the buy candles are drawn. When it closes below 50, the sell candles are drawn.

Now you can use Stochastics and don't really need iCustom or StochCandles.

Regards,

Don
  • #3,256
  • Nov 12, 2010 2:24pm Nov 12, 2010 2:24pm
Last week, averaged 420 pips a day
This week, just over 700 pips a day

Finally cracked $51k today- on my balance

Still trading using the T101, at 0.2 Lots
  • #3,257
  • Nov 12, 2010 11:38pm Nov 12, 2010 11:38pm
Tex,

You're kicking butt! Great going! (I'm jealous)

Regards,

Don

Quoting texmade1
Last week, averaged 420 pips a day
This week, just over 700 pips a day

Finally cracked $51k today- on my balance

Still trading using the T101, at 0.2 Lots
  • #3,258
  • Nov 14, 2010 11:04am Nov 14, 2010 11:04am
Tex,

If you had a set stoploss of 40 pips per pair (560 total for 14 pairs), risking only 0.5% per pair (7% of account for total basket), you could trade 5 mini lots per pair with $40,000. With $50,000 you could be trading 6 mini lots and 3 micro lots per pair with same risk.

So am I to assume you're risking 100 pips/0.5% of account per pair, to only be trading 2 mini lots per pair still? That just seems like a huge stoploss - 100 pips per pair (1,400 pips for the basket), where if you actually had a stoploss set, you could maximize your MM and be trading more lots and grow account at 3 times the speed you are - and I'm certainly not putting down the $10,000 gain you've had in the last couple weeks - I'm just saying it could be a lot better very possibly it looks like to me. Of course, still many kudos to you, and yes I'm still jealous You're doing awesomely!

Regards,

Don


Quoting disbellj
Tex,

You're kicking butt! Great going! (I'm jealous)

Regards,

Don
  • #3,259
  • Nov 15, 2010 1:14am Nov 15, 2010 1:14am
Now that this system is nearing perfection (at least the manual part), I like if any of you great guys can clear some thoughts for me.

If there is a good set up just before a session open, should we take it, knowing well that there might be spikes that could take one out or even into profit immediately after opening

Second question is, what trading time is best to observe. I have always made profit during asian sessions only to give them back during London Session. My findings are that, sometimes the trend I am following during Asian Session gets terminated immediately after London opening. I am always at a loss whether I should treat such as minor retracements or take them as trend changes. How are you guys dealing with this?

The crux of my question is, when should we fire the set up given by this basket system, before, during or after session openings?

Peter
  • #3,260
  • Nov 15, 2010 3:24am Nov 15, 2010 3:24am
Quoting Gvc
Here is a good indi that i attach on my T101 chart for currency info.
This is a good indicator which can complement basket trading. Looking at this indicator fired my imagination. My thoughts are as follows:

Shouldn't we be trading this system along currencies instead of pair currelation? Let's say this indicator is modified so as to have one set for each currency. USD will have one, AUD will have one, etc. When a currency is showing strength, we trade the whole combination in that currency.

I have come to realise that each of the pair in the basket we trade now still obey the strength/weaknesses of the underlying currencies.

You great coders out there, Don, ZZnbrm, etc, kindly check if this indicator can be modified for each currency. It will be a great idea if each currency can come with a summary that says "USD is weak" which will fire a sell of all USDxxx and buy of all xxxUSD. There are already scripts to do this.

Peter
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