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Attachments: ForexKiwi's D1 Fibo trading auto-trader by Steve Hopwood
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ForexKiwi's D1 Fibo trading auto-trader by Steve Hopwood

  • #41
  • Nov 19, 2010 9:02pm Nov 19, 2010 9:02pm
Quoting ForexKiwi
In the meantime... as for a formula, I too am not a mathematician. I'll have a hunt through some other bots and see if I can find anything that looks like it might work. Enjoy your weekend.
Here's a bit of code that looks like it may do something similar to what I'm after. It sets the lot size according to the available free margin. I'm sure myself and anyone else wanting to use it could adjust the % to whatever works for them. Does this make sense, and would it slot into the code ok Steve?

//-- external input
extern double LotPercent = 2.0 // mean 2.0%

//-- pass variable
double LotSize;

void LotsCalc() {
if(MarketInfo(Symbol(),MODE_MINLOT) == 0.1) int LotsDigit = 1;
else if(MarketInfo(Symbol(),MODE_MINLOT) == 0.01) LotsDigit = 2;
double MinLots = NormalizeDouble(MarketInfo(Symbol(),MODE_MINLOT),LotsDigit);
double MaxLots = NormalizeDouble(MarketInfo(Symbol(),MODE_MAXLOT),LotsDigit);
double AcFrMar = NormalizeDouble(AccountFreeMargin(),2);

LotSize = (AcFrMar*(LotsPercent/100))/1000;

if(LotSize > MaxLots) LotSize = MaxLots;
if(LotSize < MinLots) LotSize = MinLots;
}
  • #42
  • Nov 20, 2010 4:53am Nov 20, 2010 4:53am
Yep. That should do the trick. It is always the

LotSize = (AcFrMar*(LotsPercent/100))/1000;

bit that defeats my ability to work out. Whenever I have to code a percentage formula, still have to work backwards from the result of the calculation. So, I now that 10% of 100 is 10; from this I can work out what the formula is.

The instant the formula needs further tweaking, as in this example, I am stuffed.

  • #43
  • Nov 20, 2010 10:48am Nov 20, 2010 10:48am
I have added FK's percentage of free margin lot-size calculator. In the inputs is a boolean to set if you want this and a percentage size - defaulting to true and 1%.

I have also added code that still enforces D1 trading but allows the bot to run on any tf in case this is a help. For sure, it allows quicker backtesting using the Open Prices Only option and running on, say, the H1 chart.

  • #44
  • Nov 20, 2010 2:19pm Nov 20, 2010 2:19pm
Quoting SteveHopwood
I have added FK's percentage of free margin lot-size calculator. In the inputs is a boolean to set if you want this and a percentage size - defaulting to true and 1%.

I have also added code that still enforces D1 trading but allows the bot to run on any tf in case this is a help. For sure, it allows quicker backtesting using the Open Prices Only option and running on, say, the H1 chart.

Thank you Sir. That's fantastic.
  • #45
  • Nov 29, 2010 2:11pm Nov 29, 2010 2:11pm
Since my last post this strategy has continued to work nicely, with no losing days on EURUSD or GBPUSD. I know however that this run of every day winners will end as backtesting shows its a good, profitable system - but there will be plenty of losing days.

In the interest of cutting back the losing days and getting a better risk/reward ratio, I have been studying the Weekly chart and believe using this strategy for that will be even better than the daily. The best currency pairs would appear to be USDCHF, EURUSD, and to a lessor extent GBPUSD.

Steve, I have changed the bot as best I can to accomodate the weekly trades as attached. I have also re-added the Fib retrace calcs as it does appear to always at least retrace 10% of the previous candle. I am however struggling with two things... the trade close hour, and the fact that once it has hit TP I think it will still want to open another trade at the next daily open hour - rather than waiting till the next week. Any chance you could take a look at these? If poss I'd like the trades to only look to open on a Monday at whatever time we select, and close (if not hit TP or SL) on a Friday at whatever time we select.

My manual backtesting points to a consistent and profitable system just taking 1 trade a week for the above currencies with these settings...

USDCHF - TP 200, SL 130, breakeven 100, breakeven pips 1
EURUSD - TP 200, SL 145, breakeven 100, breakeven pips 1
GBPUSD - TP 200, SL 185, breakeven 100, breakeven pips 1

Steve, would it be hard to also add the tightening stop option from MTPM? If it is don't worry.

Cheers
FK
Attached File(s)
File Type: mq4 ForexKiwi's Weekly Fib Retracement auto-trader by SteveHopwood.mq4   45 KB | 396 downloads
  • #46
  • Nov 30, 2010 8:13pm Nov 30, 2010 8:13pm
Quoting ForexKiwi
Since my last post this strategy has continued to work nicely, with no losing days on EURUSD or GBPUSD. I know however that this run of every day winners will end as backtesting shows its a good, profitable system - but there will be plenty of losing days.

In the interest of cutting back the losing days and getting a better risk/reward ratio, I have been studying the Weekly chart and believe using this strategy for that will be even better than the daily. The best currency pairs would appear to be USDCHF, EURUSD, and to a lessor extent GBPUSD....
No need to spend time on this Steve. I think I've managed to amend it to do what I want (apart from the tightening stop bit). I'm running the MTPM bot seperately to handle the tightening stop. If there's actually anyone still following this trading method I've attached what I think will do the trick for weekly trades.

So far so good this week, with 200 pips already locked in on the EURUSD, and GBPUSD a free trade.
Attached File(s)
File Type: mq4 ForexKiwi's Weekly Fib Retracement auto-trader by SteveHopwood.mq4   45 KB | 551 downloads
  • #47
  • Nov 30, 2010 8:30pm Nov 30, 2010 8:30pm
Quoting ForexKiwi
No need to spend time on this Steve. I think I've managed to amend it to do what I want (apart from the tightening stop bit). I'm running the MTPM bot seperately to handle the tightening stop. If there's actually anyone still following this trading method I've attached what I think will do the trick for weekly trades.

So far so good this week, with 200 pips already locked in on the EURUSD, and GBPUSD a free trade.
Hi FK.....I'm running it on D1 and would love to try it on W1......if it runs half as good on W1 as it does on D1 it will be fine.....

Have a great day

whip
  • #48
  • Jan 1, 2011 7:04am Jan 1, 2011 7:04am
Good Morning FK,
This bot has been running along well on my second demo machine for quite awhile and I thought I'd post results for it......It has turned into an FTLR clone and it's doing well running that way......As I read back through the thread I don't believe you envisioned it running this way but it works....
DD a little high but the extra pairs will do that....
Just thought you might want to see this.....

Happy New Year

whip
Attached File(s)
File Type: pdf Statement_ ForexKiwi's D1 Fibo Trader - Hiredwhip.pdf   92 KB | 786 downloads
  • #49
  • Jan 6, 2011 12:38am Jan 6, 2011 12:38am
Quoting hiredwhip
Good Morning FK,
This bot has been running along well on my second demo machine for quite awhile and I thought I'd post results for it......It has turned into an FTLR clone and it's doing well running that way......As I read back through the thread I don't believe you envisioned it running this way but it works....
DD a little high but the extra pairs will do that....
Just thought you might want to see this.....

Happy New Year

whip
Thanks Whip. Real interesting to see how an idea can be used in different ways to suit our individual preferences. Great that it's working for you.

I plan to continue with the weekly trade strategy as this is showing good potential for a slow and steady profit curve with EURUSD, GBPUSD, and USDCHF. I'm hoping this will be a good balance for shorter term trades using other strategies.

Cheers
FK
  • #50
  • Last Post: Jul 22, 2019 5:32pm Jul 22, 2019 5:32pm
what rsi period they suggest to use in daily chart,i am testing rsi 4 and it is giving good signals,please share your findings!
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