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The Small Hours Simplified!

  • #101
  • Feb 13, 2011 10:28am Feb 13, 2011 10:28am
While I do appreciate the code writers and people that can write an EA, may I ask a favor? Please limit your discussions on building and coding an EA amongst each other via private IM.

Let's please leave the integrity of this room intact for those that would like to learn an honest method. Please leave the topic to trading this method manually and go private on your EA discussions...Deal?
  • #102
  • Feb 13, 2011 10:28am Feb 13, 2011 10:28am
here's current progress of my EA. Haven't gotten the SL to BE option working and like i mentioned above, there's a small "error" with keeping a pending open, until another one is found .

Maybe oashken1 or someone else can take a look, so a better one can be build from this
like to hear suggestions to improve the code.

Attached File(s)
File Type: mq4 Small Hours-ido370.mq4   7 KB | 424 downloads
  • #103
  • Feb 13, 2011 10:29am Feb 13, 2011 10:29am
Thanks for sharing colo, one question:
do u use this method on major pairs only or all available pairs, and why?

Glad u are having success!
Odysseus
forexfusiondotcom
  • #104
  • Feb 13, 2011 10:38am Feb 13, 2011 10:38am
Quoting Colostarr
While I do appreciate the code writers and people that can write an EA, may I ask a favor? Please limit your discussions on building and coding an EA amongst each other via private IM.

Let's please leave the integrity of this room intact for those that would like to learn an honest method. Please leave the topic to trading this method manually and go private on your EA discussions...Deal?
Deal sry for messing up the thread
  • #105
  • Feb 13, 2011 10:41am Feb 13, 2011 10:41am
Great question!

While I am sure that this method would work for most "trendy" pairs, I limit the method to majors, because they trend better than other pairs and because the spreads are generally tighter.

In a tight market, with this method your stop is also tight. With the more volatile pairs, you could get stopped out unnecessarily and then watch price go in the direction you originally expected, only you have been stopped out!

With this method if you get stopped out, the premise of the trade is over, you are done and must start looking for another signal. Do not re-enter your trade!

Quoting odysseus11
Thanks for sharing colo, one question:
do u use this method on major pairs only or all available pairs, and why?

Glad u are having success!
Odysseus
  • #106
  • Feb 13, 2011 10:52am Feb 13, 2011 10:52am
Hey you lended a hand. It wasn't that you messed up this thread. it is far from messed up! I appreciate what you've done!

Let me explain: One of the things that I am now proud of is the fact that I got off my ass and started working on trading, rather than have someone or an EA work for me.

In the last 10 days I've nailed 638 pips (at $4.00 per pip!) and it wasn't because an EA did it for me! And No not all 638 pips came from this method (I trade 4 other methods!)

I can now look at my charts and my account balance with great confidence and NOT have to worry that I lose everything (again) due to my being lazy or complacent.

It feels very good being a trader, placing trades and managing my risk is actually very rewarding!

While I admit your EA almost sucked me in, I found myself reading this thread and watching it turn into an EA discussion, which is counter productive to what I hope to accomplish here.

I want to pass my trading knowledge on to everyone, and show that you don't need an EA to be successful in this market...my account balance proves that...at least to me anyway!

Thank you for your dedication in writing that EA, but personally I think an indicator works just as well as an EA!! Or even better, plain common sense and an established set of rules.



Quoting ido370
Deal sry for messing up the thread
  • #107
  • Feb 13, 2011 11:01am Feb 13, 2011 11:01am
Thank you for that! It is nice to read that it has hit home with at least one person!

The methods I trade, have actually shown me that if they don't trigger, and price moves against the prediction. It usually comes back to you, and when it does and triggers your trade...man it's awesome to watch 99 pips fall straight into your account.

It's a truly great feeling!

Getting educated in forex was the best choice I've made in a very long time!!

Thank you again!


Quoting KingOfForex
Your statement "Rule #1: Have patience, let Price come to you...stop chasing it!" at the end of the post gives very powerful message. If the trader follows that everytime whenever the trade is placed either using your system or any other system, he/she will benefit a lot. Thank you !
  • #108
  • Feb 13, 2011 11:15am Feb 13, 2011 11:15am
Quoting ido370
here's current progress of my EA. Haven't gotten the SL to BE option working and like i mentioned above, there's a small "error" with keeping a pending open, until another one is found .

Maybe oashken1 or someone else can take a look, so a better one can be build from this
like to hear suggestions to improve the code.

Attachment
Inserted Code
   if (rule1=="PASSED"&& rule2=="BUY"&& rule3=="Above"&&existbuy==0)
   {
     CloseBuy();
     [b]if ((Ask+tp2*pips2dbl)-(Ask-Bid) > hh5)[/b]
     {
       buystop=OrderSend(Symbol(),OP_BUYSTOP,lots,NormalizeDouble(hh5,Digits),100,NormalizeDouble(ll5,Digits),NormalizeDouble(Ask+tp2*pips2dbl,Digits),NULL,MagicNumber,0,Blue);
       if (mail==true) SendMail("Small Hours EA v1", "Pending BUY order placed");
     }
   }

   if (rule1=="PASSED"&& rule2=="SELL"&& rule3=="Below"&&existsell==0)
   {
     CloseSell(); 
     [b]if (Bid-tp2*pips2dbl < ll5-(Ask-Bid))[/b]
     {
       sellstop=OrderSend(Symbol(),OP_SELLSTOP,lots,NormalizeDouble(ll5,Digits),100,NormalizeDouble(hh5,Digits),NormalizeDouble(Bid-tp2*pips2dbl,Digits),NULL,MagicNumber,0,Red);
       if (mail==true) SendMail("Small Hours EA v1", "Pending SELL order placed");
     }
   }

if ((Ask+tp2*pips2dbl)-(Ask-Bid) > hh5)

if (Bid-tp2*pips2dbl < ll5-(Ask-Bid))

added by me, you wont get error 130 anymore
  • #109
  • Edited 6:55pm Feb 13, 2011 11:19am | Edited 6:55pm
just one more tool then:
removed EA code, so this is Indicator only!
When first light is orange, and other 2 are green, signal to buy. when light is orange and other 2 are red, signal to sell.
According to the rules ofcourse
You can switch options on/off in the indicator to show TP/SL/Entry levels, Alert message, Email alert, change corner position, change height placement value.

Note: first light turns orange, since its OK signal for sell AND buy!

Attached File(s)
File Type: mq4 Small Hours v2.mq4   9 KB | 514 downloads

screenshot with all options on false(default):
Attached Image

screenshot with all options on (entry, TP's and SL are shown&get filled with values when signal is there):
Attached Image
  • #110
  • Feb 13, 2011 11:22am Feb 13, 2011 11:22am
This is good to go!

1. For the lazy trader that will take the signals without validating the rules, will learn valuable lesson!

2. The the good trader, to learn when to look at the charts. If all signs are green, validate the rules place your limit / stops!

Quoting ido370
just one more tool then:
removed EA code, so this is Indicator only!
when all "lights" are green, time to buy. when lights are all red, time to sell. According to the rules ofcourse
Attachment
screenshot:
Attachment
  • #111
  • Feb 13, 2011 11:23am Feb 13, 2011 11:23am
This is good to go!

1. For the lazy trader that will take the signals without validating the rules, will learn valuable lesson!

2. The good trader, to learn when to look at the charts. If all signs are green, validate the rules then place your limit / stops!

Very nice stuff ido370!


Me likey!

Quoting ido370
just one more tool then:
removed EA code, so this is Indicator only!
when all "lights" are green, time to buy. when lights are all red, time to sell. According to the rules ofcourse
Attachment
screenshot:
Attachment
  • #112
  • Feb 13, 2011 2:38pm Feb 13, 2011 2:38pm
Hi Colostarr,
Thanks for posting the system.

I have loaded a template into strategy tester with the 2 indicators posted on this thread.

Easyrider's is good for viewing when a setup was valid, but I don't think that it conforms to your rules, ie HH5- LL5 should be less than Setup bar ATR x 1.5 (see attachment).
BTW Alert and email facility, is good to have.

I don't think ido370 traffic signal gave the same false signal, but I can't view history with this indicator.

I don't mean to criticize, I am grateful for the contributions here and hope you view this as constructive comments.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4 small hours.gif Size: 75 KB
  • #113
  • Feb 13, 2011 2:58pm Feb 13, 2011 2:58pm
Hello. If my understanding is correct, the Setup Bar (the red line on my indicator) becomes bar 1 when it closes. You appear to me to be going back 6 bars , counting the Setup Bar as bar 1. Correct me if I am wrong, and I will fix the logic, but I think is is correct. ColoStarr, help us out here.

Quoting 236dave
Hi Colostarr,
Thanks for posting the system.

I have loaded a template into strategy tester with the 2 indicators posted on this thread.

Easyrider's is good for viewing when a setup was valid, but I don't think that it conforms to your rules, ie HH5- LL5 should be less than Setup bar ATR x 1.5 (see attachment).
BTW Alert and email facility, is good to have.

I don't think ido370 traffic signal gave the same false signal, but I can't view history with this indicator.

I don't mean to criticize, I am grateful for the contributions here and hope...
  • #114
  • Feb 13, 2011 2:59pm Feb 13, 2011 2:59pm
A very interesting system, indeed! And I like the traffic lights indicator very much
Still, wanted to ask two important questions:
1. Does anyone have evidence that this system does not work on other timeframes, too?
2. Why is it important to use two SMAs? Why not using just SMA40 if we want to be more conservative and only SMA20 if we have aggressive intentions?
  • #115
  • Edited 3:58pm Feb 13, 2011 3:14pm | Edited 3:58pm
Quoting 236dave
Hi Colostarr,
Thanks for posting the system.

I have loaded a template into strategy tester with the 2 indicators posted on this thread.

Easyrider's is good for viewing when a setup was valid, but I don't think that it conforms to your rules, ie HH5- LL5 should be less than Setup bar ATR x 1.5 (see attachment).
BTW Alert and email facility, is good to have.

I don't think ido370 traffic signal gave the same false signal, but I can't view history with this indicator.

I don't mean to criticize, I am grateful for the contributions here...
Traffic Light indicator is updated. Also see the note i posted while updating. first light will become Orange if valid, the other two give red or green
optional settings which can be turned on/off:
-Show entry level, SL, and TP1, TP2 level
-Show Alert on BUY or SELL setup
-Send Email on BUY or SELL setup

*fixed* should only Alert once now on signal
  • #116
  • Feb 13, 2011 3:30pm Feb 13, 2011 3:30pm
http://i51.tinypic.com/w9k29d.png

I made this indicator based on this forum. I will post it tomorrow.
  • #117
  • Feb 13, 2011 6:14pm Feb 13, 2011 6:14pm
Quoting ido370
Traffic Light indicator is updated. Also see the note i posted while updating. first light will become Orange if valid, the other two give red or green
optional settings which can be turned on/off:
-Show entry level, SL, and TP1, TP2 level
-Show Alert on BUY or SELL setup
-Send Email on BUY or SELL setup

*fixed* should only Alert once now on signal

Sorry im a bit new, how do I turn on those optional settings?
  • #118
  • Feb 13, 2011 6:28pm Feb 13, 2011 6:28pm
Quoting pp22
Sorry im a bit new, how do I turn on those optional settings?
corner: upperleft=0, upperright=1, lowerleft=2, lowerright=3
y: distance from the top of the screen, the higher the value, the lower its on your chart.
showlevels: true - show levels, false - don't show levels
alert: true - alert message on signal, false - no alert message on signal
mail: true - send email on signal, false - no email on signal

You can doubleclick the values to change them when you add the indictor to your chart.

Please update to Small Hours V2 first (new updated version), you can find it in the same post.
  • #119
  • Feb 13, 2011 7:14pm Feb 13, 2011 7:14pm
thanks colostarr for sharing your knowledge. i would just like to ask what are the six pairs you are trading? is it the EU, GU, EJ, UJ, AU, and UCAD? and on average do you usually get 1 trade per day on these six pairs? for example for this day we only have EU. the next day only GU? thanks
  • #120
  • Feb 13, 2011 8:27pm Feb 13, 2011 8:27pm
Yes counting the most recently closed candle as 1!

Quoting EasyRyder
Hello. If my understanding is correct, the Setup Bar (the red line on my indicator) becomes bar 1 when it closes. You appear to me to be going back 6 bars , counting the Setup Bar as bar 1. Correct me if I am wrong, and I will fix the logic, but I think is is correct. ColoStarr, help us out here.
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