Attachment The Beauty, true to her name, is a more timid version of The Beast (TB). I'm afraid of The Beast. It does great in ranging markets, but its strategy for dealing with trends is to double triple and quadruple down. There is always a huge blowup lurking, though it has small probability at any time.
It is essentially 'short volatility', which is another name for "cut your winners short, and let your losers ride." That can't be helped.
But I think the strategy can be altered. The Beauty has now diverged sufficiently away from TB that it will give quite different results in some cases. I think that when the Beast is rampaging, the Beauty will give some nice profits, but when The Beast is howling in agony, The Beauty will be hurt but not as horribly.
This EA is nearly fully derived from the interesting counter-trend system called The Beast (or sixths trading) found here.
http://www.forexfactory.com/showthread.php?t=263253
Changes include:
* change to LibOrderReliable4 for all order handling
* new "trend-modifying" sixths lines, and associated indicators
Changes for V 0.2.3:
Very Significant new changes.
1) The 'sixths lines' now both move and stretch and shrink with estimated trades. The center location moves partially with a trend in the same direction with a multiplicative factor given by "trendAdjust" (default 0.2). It moves moves them continuously based on an estimation of the current trend using 4 EMA's.
The trend-modifying sixths lines requires some explanation.
Classically the 'sixths lines' work by finding high and low in a given time period and dividing the range into sixths.
It will also stretch/shrink. Remarkably an unintuitive strategy of shrinking with larger trends seems better---as during trends the price stays well outside the shrunken bounds. This factor is controlled by trendSizeAdjust.
If you set the two new parameters to 0.0, you should get the classic "sixths" gold & green entry points.
The attached indicator lets you play.
2) A totally new concept on exiting losers. If you turn on "UseDecayingTakeProfit" to true (yes by default), then it has a new strategy, which is to have a moving 'takeprofit line' decaying further and further into losing territory over time. At "HoursToStartDTP" which means number of 1 hour bars since open time, it will open a TP at the centerline. It will decay the TP linearly with time (subject to changes in dynamic sixths lines) to reach the close yellow line by HoursToReachYellowLine (which counts from the open hour, not the HoursToStartDTP). It will continue to decay further, it's just that the two parameters give the instantaneous slope of the line. To clarify, as this is a loss-recovery system, the TP on a still open buy will be going down and down with time until the trade fills. Reverse for sell. This means that you will get TP's in your history, many of which actually have losses. This is normal.
All other trade management functions are turned off by default. Should they be on? I have no idea. Please, experiment with many different parameters!
Q: does this have all the features from Steve Hopwood's version N,N+1,N+2,.......,N+117 version of The Beast?
A: No, it was split off about mid-november.
Q: does it have the bugs too?
A: it has less of those, but maybe some new ones. I worked hard at cleaning up code (up to a point), and the use of LibOrderReliable has helped get more accurate trade execution (at least on demo). Over a week, I haven't seen any huge bloopers in mistaken trades.
Q: what happened to the stealth?
A: It's been ripped out for coding simplicity. Sorry, this one uses magic numbers & trade comments. If it eventually proves necessary I'd write a library for true stealth order manipulation saving tickets in global variables.
Q: What happens if I turn on <trade management feature> with decaying TP?
A: You might rip a hole in our world's spacetime fabric and allow infiltration of unspeakable abominations from certain other planes of existence. And then you won't be thinking about pips any more, but locating a band of scruffy wisecracking men who happen to carry jigawatts of unlicensed particle accelerator in their backpacks. But it could work out just fine too, e.g. breakeven & jumping stop.
Q: What happens if I turn on Recovery too?
A: Nobody knows, but you might make Gozer very very angry. You do not want that.
Latest Update: V0.2.4 - fix bug in deleting pendings, small other changes.
It is essentially 'short volatility', which is another name for "cut your winners short, and let your losers ride." That can't be helped.
But I think the strategy can be altered. The Beauty has now diverged sufficiently away from TB that it will give quite different results in some cases. I think that when the Beast is rampaging, the Beauty will give some nice profits, but when The Beast is howling in agony, The Beauty will be hurt but not as horribly.
This EA is nearly fully derived from the interesting counter-trend system called The Beast (or sixths trading) found here.
http://www.forexfactory.com/showthread.php?t=263253
Changes include:
* change to LibOrderReliable4 for all order handling
* new "trend-modifying" sixths lines, and associated indicators
Changes for V 0.2.3:
Very Significant new changes.
1) The 'sixths lines' now both move and stretch and shrink with estimated trades. The center location moves partially with a trend in the same direction with a multiplicative factor given by "trendAdjust" (default 0.2). It moves moves them continuously based on an estimation of the current trend using 4 EMA's.
The trend-modifying sixths lines requires some explanation.
Classically the 'sixths lines' work by finding high and low in a given time period and dividing the range into sixths.
It will also stretch/shrink. Remarkably an unintuitive strategy of shrinking with larger trends seems better---as during trends the price stays well outside the shrunken bounds. This factor is controlled by trendSizeAdjust.
If you set the two new parameters to 0.0, you should get the classic "sixths" gold & green entry points.
The attached indicator lets you play.
2) A totally new concept on exiting losers. If you turn on "UseDecayingTakeProfit" to true (yes by default), then it has a new strategy, which is to have a moving 'takeprofit line' decaying further and further into losing territory over time. At "HoursToStartDTP" which means number of 1 hour bars since open time, it will open a TP at the centerline. It will decay the TP linearly with time (subject to changes in dynamic sixths lines) to reach the close yellow line by HoursToReachYellowLine (which counts from the open hour, not the HoursToStartDTP). It will continue to decay further, it's just that the two parameters give the instantaneous slope of the line. To clarify, as this is a loss-recovery system, the TP on a still open buy will be going down and down with time until the trade fills. Reverse for sell. This means that you will get TP's in your history, many of which actually have losses. This is normal.
All other trade management functions are turned off by default. Should they be on? I have no idea. Please, experiment with many different parameters!
Q: does this have all the features from Steve Hopwood's version N,N+1,N+2,.......,N+117 version of The Beast?
A: No, it was split off about mid-november.
Q: does it have the bugs too?
A: it has less of those, but maybe some new ones. I worked hard at cleaning up code (up to a point), and the use of LibOrderReliable has helped get more accurate trade execution (at least on demo). Over a week, I haven't seen any huge bloopers in mistaken trades.
Q: what happened to the stealth?
A: It's been ripped out for coding simplicity. Sorry, this one uses magic numbers & trade comments. If it eventually proves necessary I'd write a library for true stealth order manipulation saving tickets in global variables.
Q: What happens if I turn on <trade management feature> with decaying TP?
A: You might rip a hole in our world's spacetime fabric and allow infiltration of unspeakable abominations from certain other planes of existence. And then you won't be thinking about pips any more, but locating a band of scruffy wisecracking men who happen to carry jigawatts of unlicensed particle accelerator in their backpacks. But it could work out just fine too, e.g. breakeven & jumping stop.
Q: What happens if I turn on Recovery too?
A: Nobody knows, but you might make Gozer very very angry. You do not want that.
Latest Update: V0.2.4 - fix bug in deleting pendings, small other changes.
Attached File(s)
Australian by choice 