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The Small Hours Simplified!

  • #201
  • Feb 14, 2011 9:36am Feb 14, 2011 9:36am
I am calling it a night. Very uneventful trading day! USDCHF looks to want to go south. Leaving my limits in as they are good for another 8 hours or so. If price comes back now...it will be nice...TP's will be hit!
  • #202
  • Feb 14, 2011 9:48am Feb 14, 2011 9:48am
Thanks for the helpful indicator. But every time I look at this one and the previous version, The TP1 has always been less then the entry Price in the comments. You notice that?

thx,
todd


Quoting ido370
Here's the latest version of the indicator.
Screenshot with all options ON:
Attachment

This way, you can have the rules always onscreen (might be me, but i forget rules sometimes and have to go back to first post to read again )
Attachment
  • #203
  • Edited 10:32am Feb 14, 2011 9:50am | Edited 10:32am
Quoting todd960960
Thanks for the helpful indicator. But every time I look at this one and the previous version, The TP1 has always been less then the entry Price in the comments. You notice that?

thx,
todd
good point, will see to fix it, and upload back in the same post . thx!
UPDATE: found the mistake, *FIXED* please download again.
  • #204
  • Feb 14, 2011 1:48pm Feb 14, 2011 1:48pm
Quoting ido370
Here's the latest version of the indicator.
Screenshot with all options ON:
Attachment

This way, you can have the rules always onscreen (might be me, but i forget rules sometimes and have to go back to first post to read again )
Attachment
Can somebody assist-how do one upload the indicator onto MT4?
  • #205
  • Feb 14, 2011 2:37pm Feb 14, 2011 2:37pm
Quoting ido370
good point, will see to fix it, and upload back in the same post . thx!
UPDATE: found the mistake, *FIXED* please download again.
Sorry IDO370
I found 3 bugs more???

1)
// atrvalue=iATR(NULL,0,20,0)*10000;
// atrvalue=iATR(NULL,0,20,0)/Point;
atrvalue=iATR(NULL,0,20,1)/Point;

2)
// hhll5=(hh5-ll5)*10000;
hhll5=(hh5-ll5)/Point;

3) (bug ++)
// if (iHigh(NULL,0,1)<High[iHighest(NULL,0,MODE_HIGH,5,1)]) ObjectSetText("rule2", CharToStr(130), 15, "Wingdings", Lime);
// if (setuplow>ll5) ObjectSetText("rule2", CharToStr(130), 15, "Wingdings", Red); //**** if between always red?????****

if (setuplow>ll5 && setuphigh<hh5) ObjectSetText("rule2", CharToStr(130), 15, "Wingdings", Yellow);
else if (setuphigh<hh5) ObjectSetText("rule2", CharToStr(130), 15, "Wingdings", Lime);
else if (setuplow>ll5) ObjectSetText("rule2", CharToStr(130), 15, "Wingdings", Red);

And this is sugested:

if (showlevels==true)
{
spread=Ask-Bid;
pipspread=(3*pips2dbl)+spread;
ObjectSetText("stats1", "ATRx1.5 / HH5-LL5 Range: "+DoubleToStr(atrcalc,1)+" / "+DoubleToStr(hhll5,1), 9, "Arial Bold", lcolor);
ObjectSetText("stats2", "Highest / Lowest: "+DoubleToStr(hh5,Digits)+" / "+DoubleToStr(ll5,Digits), 9, "Arial Bold", lcolor);
ObjectSetText("entry", "Entry: "+DoubleToStr(hh5+pipspread,Digits)+" / "+DoubleToStr(ll5-pipspread,Digits), 9, "Arial Bold", lcolor);
ObjectSetText("tp1", "TP1: "+DoubleToStr(hh5+tp1*pips2dbl,Digits)+" / "+DoubleToStr(ll5-tp1*pips2dbl,Digits), 9, "Arial Bold", LimeGreen);
ObjectSetText("tp2", "TP2: "+DoubleToStr(hh5+atrcalc*pips2dbl,Digits)+" / "+DoubleToStr(ll5-atrcalc*pips2dbl,Digits), 9, "Arial Bold", Lime);
ObjectSetText("sl", "SL: "+DoubleToStr(ll5-pipspread,Digits)+" / "+DoubleToStr(hh5+pipspread,Digits), 9, "Arial Bold", Tomato);
}

Very goog job ido370.
Perdon, leo bien el ingles pero no lo escribo jeje
Saludos a todos desde Tandil, Argentina.
  • #206
  • Edited 3:31pm Feb 14, 2011 3:21pm | Edited 3:31pm
Quoting ruben5419
Sorry IDO370
I found 3 bugs more???
.....
Ruben, thanks for the code, i'll update it and upload it back in the previous small hours indicator post!
your bug #1 and #2 seem correct and better code so i will change that. Also the pipspread is great. i was already gonna change that, but thanks to you its done
bug #3 i think there's nothing wrong there. no need for "in between" color according to the rules, and also many times it will be yellow then, while it complies to the rule to sell or buy.
Or can you explain better why #3 is a bug? or does someone else have the right answer for this maybe?

P.S. just tried your suggestions, but doesnt work for me (5digit broker, FXPro), i get wrong TP, SL Entry levels. i suppose /Point is not the right way..
  • #207
  • Edited 3:52pm Feb 14, 2011 3:40pm | Edited 3:52pm
Quoting ido370
Ruben, thanks for the code, i'll update it and upload it back in the previous small hours indicator post!
your bug #1 and #2 seem correct and better code so i will change that. Also the pipspread is great. i was already gonna change that, but thanks to you its done
bug #3 i think there's nothing wrong there. no need for "in between" color according to the rules, and also many times it will be yellow then, while it complies to the rule to sell or buy.
Or can you explain better why #3 is a bug? or does someone else have the right answer for...
Well ido370

Ufff very dificult for mi in english...
Rule 3 in your code, if between the result is ever red not silver.
Mi idea on yellow color is only for study, silver is correct anyway (silver for yellow in mi code if you like)

Ok?

PS *10000 not work for me jeje, /Point yes !!!!???? (5digit broker , Askobid)
  • #208
  • Feb 14, 2011 3:45pm Feb 14, 2011 3:45pm
To keep Colostarr trading and learning thread clean, i made a new thread for coding of EA's, indicators and scripts for the Small Hours strategy:
http://www.forexfactory.com/showthread.php?t=280908

If you have posted an indicator/EA before, please feel free to upload them in the new thread to keep things organized.

Please continue any further coding talk over there
  • #209
  • Feb 14, 2011 4:52pm Feb 14, 2011 4:52pm
how far the opposite way would the pair have to move for the entry to become invalidated? assuming the current bar hasnt closed yet.
  • #210
  • Feb 14, 2011 6:10pm Feb 14, 2011 6:10pm
Hi Colostarr,

Rule no. 2 is very hard to validate (refer here the 3 rules for this method http://www.forexfactory.com/showthre...=1#post4395337). Look at the set up for GBPJPY. I know GBPJPY is not your favorite pair. I use this pair here is just for an example purposed only.

LL5 = 133.178
HH5 = 133.767
Low of the most recently closed candle = 133.462
High of the most recently closed candle = 133.749

Rule no. 2 states that

1. Sell set up: (Low of the most recently closed candle = 133.462) > (LL5 = 133.178)

2. Buy set up: (High of the most recently closed candle = 133.749) < (HH5 = 133.767)

So, which one is the right set up we want to choose ?????? We can choose both. Buy or Sell ?

Rules no. 1 & 3 are very straight forward. But be careful, rule no. 3 is quite hard too to validate when the close price of the recently closed candle is in between the 20SMA and 40SMA. What I can say, rule no. 3 depends on the rule no. 2. Above all here we need really to understand rule no. 2.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 26 KB
  • #211
  • Feb 14, 2011 7:00pm Feb 14, 2011 7:00pm
Quoting forexgame
Hi Colostarr,

Rule no. 2 is very hard to validate (refer here the 3 rules for this method http://www.forexfactory.com/showthre...=1#post4395337)....
In this case, there is no confusion as the price is above both 20SMA and 40SMA, so you need to look for a buy setup. If the price is between 20 SMA and 40SMA then you need to go with the overall trend (please see post#180) which is up again for GBPJPY as you see a good seperation between MAs pointing up as well as price making HH-HL since end of January.

Hope this helps.
  • #212
  • Feb 14, 2011 7:01pm Feb 14, 2011 7:01pm
Yes rule #2 will tell you which direction to use. If you are ever in doubt always go with the over all trend. It will breakout one way or another!

Quoting forexgame
Hi Colostarr,

Rule no. 2 is very hard to validate (refer here the 3 rules for this method http://www.forexfactory.com/showthre...=1#post4395337). Look at the set up for GBPJPY. I know GBPJPY is not your favorite pair. I use this pair here is just for an example purposed only.

LL5 = 133.178
HH5 = 133.767
Low of the most recently closed candle = 133.462
High of the most recently closed candle = 133.749

Rule no. 2 states that

1. Sell set up: (Low of the most recently closed candle = 133.462) > (LL5 = 133.178)...
  • #213
  • Feb 14, 2011 7:11pm Feb 14, 2011 7:11pm
Here are a few signals generated from my other systems this morning, signals valid until the close of the 12:00 candle.Market is behaving strangely this morning. Take the signals if you choose to:
USD/JPY Buy: 83.57
Stop:83.18
TP1: 83.75
TP2: 83.93
USD/CHF Buy: .9751
Stop: .9688
TP1: .9776
TP2: .9802
AUD/USD Sell: .9999
Stop: 1.0048
TP1: .9969
TP2: .9938
GBP/USD Sell:1.5978
Stop:1.6054
TP1: 1.5938
TP2: 1.5899
  • #214
  • Feb 14, 2011 10:07pm Feb 14, 2011 10:07pm
USDJPY just confirmed a small hours signal at the close of the 0400 GMT candle. HURRY it is breaking out as I type this!
  • #215
  • Feb 14, 2011 11:14pm Feb 14, 2011 11:14pm
How often are you hitting the 2nd profit level? I really dont like the risk:reward of the first one. If the TP2 is being hit more than 60% of the time, why not just use that for every trade?
  • #216
  • Feb 14, 2011 11:15pm Feb 14, 2011 11:15pm
Hey Colostar, can you post a pic of the chart showing this setup?

I canr seem to see it on my chart

Thanks
  • #217
  • Feb 14, 2011 11:45pm Feb 14, 2011 11:45pm
too late to take it, but i guess this would have been a nice setup?
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2011-02-15 om 08.43.28.png Size: 33 KB
  • #218
  • Edited Feb 15, 2011 12:08am Feb 14, 2011 11:51pm | Edited Feb 15, 2011 12:08am
It's your money, your mind, you tell me why not?
TP 1 is hit around 85% of the time, I usually get impatient on waiting for TP2 so I almost always take my pips where I can get my pips! My daily goal is 85-100 pips (with this method and the 4 others I use). Nailed 106 yesterday (53 pips x 2 closed both trades because EURUSD was rebounding). I slept well last night!

Quoting trevwest
How often are you hitting the 2nd profit level? I really dont like the risk:reward of the first one. If the TP2 is being hit more than 60% of the time, why not just use that for every trade?
  • #219
  • Feb 14, 2011 11:56pm Feb 14, 2011 11:56pm
6 pips away from TP1...so far so good!

Quoting ido370
too late to take it, but i guess this would have been a nice setup?
Attachment
  • #220
  • Feb 14, 2011 11:58pm Feb 14, 2011 11:58pm
Im still lost with my charts not matching yours, the highs and the lows for each bar is different and the atr`s are different, I dont spot the set ups you are.
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