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  • #21
  • Feb 15, 2011 3:18pm Feb 15, 2011 3:18pm
I checked out a pair at random USDCHF and used the indi's posted to pick out entries.

I followed Colostarr's rules except for the trailing stops and spread allowance, it's difficult when manually testing, pity we don't have an EA for back testing.

Anyway here are the results:
Period - start of 2010 to Feb 14th 2011
44 Entry points
2 separate orders entered per entry point.
TP1 - 1st order targets 0.75 ATR pip value profit
TP2 - 2nd order targets 1.5 ATR pip value profit

37 trades hit TP1 (84% success rate)
33 trades hit TP2 (75% success rate)

If we used £0.50 value / pip on each order, it would have given:
Gross profit = £1812
Gross loss = £ -538
Max loss = £80
Max consecutive losses = 1
  • #22
  • Feb 15, 2011 3:47pm Feb 15, 2011 3:47pm
finally found the error with wrong TP levels
here's the latest with screenshot to see numbers yourself on six pairs:

Attached File(s)
File Type: mq4 Small Hours v2b.mq4   10 KB | 278 downloads

Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2011-02-15 om 22.44.10.jpg Size: 201 KB


Only alert + arrows coding/fixing left now...
  • #23
  • Feb 15, 2011 5:09pm Feb 15, 2011 5:09pm
Hi ido,
Your indy is looking good.

I have been using it in conjunction with Easyrider's to back test entry points.
Easyriders misses some entries points where yours finds them and vice versa. I am assuming with your indy, that if a box isn't drawn an entry signal would not have happened. I might be wrong, but thought that it was worth pointing it out to you. See screen shot for what I mean.

No criticism meant, I am grateful for your contribution.
Keep up the good work!
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf h4 small hours.gif Size: 92 KB
  • #24
  • Feb 15, 2011 5:46pm Feb 15, 2011 5:46pm
I am watching this with interest. Thanks ido!
  • #25
  • Feb 15, 2011 6:10pm Feb 15, 2011 6:10pm
Quoting 236dave
Hi ido,
Your indy is looking good.

I have been using it in conjunction with Easyrider's to back test entry points.
Easyriders misses some entries points where yours finds them and vice versa. I am assuming with your indy, that if a box isn't drawn an entry signal would not have happened. I might be wrong, but thought that it was worth pointing it out to you. See screen shot for what I mean.

No criticism meant, I am grateful for your contribution.
Keep up the good work!
the box is always drawn in my indicator if enabled in indicator options. (Also the blue,orange boxes on your screenshot aren't mine... have a look at my screenshot in the post above) i just put in in, to have a better view of the 5 candles, and to have a better view of the pip range and entry levels. the lights will give you the right signal, since they check for the rules (rule 1 and 3, i dropped rule 2 as i stated in the post above).

i havent been using easyrider's indicator, dont see the point of the 3 bars in orange after the setup candle. Also the boxes don't have the height of the high and low of the 5 bars, which i prefer myself.
......
+ i cant read his code correctly, he's a better indi coder than me that way i just put calculations and graphics on the chart, to get a clear view.
  • #26
  • Feb 15, 2011 6:33pm Feb 15, 2011 6:33pm
Ido,

Very nice work on the indy. Makes looking for trade setups much easier. Many thanks for the great work you have put into this.
  • #27
  • Feb 15, 2011 6:49pm Feb 15, 2011 6:49pm
hi ido,

is there a way to make past valid trades show? so we can backtest the result on a pair?, thanks for contribution btw, really nice!
  • #28
  • Feb 15, 2011 7:00pm Feb 15, 2011 7:00pm
ido,
See what you mean, sorry for the confusion.
The orange / blue boxes where from another members indy, posted on Colostarrs thread. I like yours better with all the buy / sell, tp and sl values displayed on the chart.
  • #29
  • Feb 15, 2011 8:17pm Feb 15, 2011 8:17pm
Quoting ido370
OK, just got home from work. Meanwhile i changed the indicator for use with rule 1 and rule 3 only. Rule 2 doesn't make sense to, since both values are always true.
So rule 1 light goes orange if valid, rule 2 light goes green for buy, and red for sell setup.
I changed code to calculate TP levels back to *10000 instead of /Point (might fix your values todd960960?) . like it better this way. But of course feel free to change code to own liking, as long as you post your version back here

When both rules are valid, then lights will now be both...
Thanks Ido,

Actually rule # 2 also doesn't make sense when the close price of 5th candle is in between the 20 & 40 SMA. Which one we want to choose? Buy or sell? I have asked this to Colostarr and his answer is too subjective and too general ie we must look the overall trend when deciding to buy or sell.

It would be nice to see if the indicator be able to draw lines representing the TP1, TP2 and SL proposed by Colostarr.
  • #30
  • Feb 15, 2011 10:35pm Feb 15, 2011 10:35pm
Hi forexgame,

I agree with you.

Although, I believe what you refer to as rule 2 in this thread is actually rule 3 in the original manual method thread.

No matter, that aside, the original rule 2:

BUYS:
Quoting Colostarr
2. The high of the most recently closed candle must be less than HH5
SELLS:
Quoting Colostarr
2.The low of the current closed bar must be greater than LL5
will help you decide what to do with rule 3:

BUYS:
Quoting Colostarr
3. The close of the most recently closed candle must be greater than the 20SMA or 40SMA (can be both)
SELLS:
Quoting Colostarr
3.The close of the setup bar must be less than the 20SMA or 40SMA (can be both)
So, I've taken Ido's v2b indi and modified it to automatically check rule 2 along with rule 3.
Along with that I've "corrected" Ido's if statements that include the following code so that it has brackets surrounding it to be logically correct:

Inserted Code
// BEFORE:
setupclose>sma20||setupclose>sma40

// AFTER:
(setupclose>sma20||setupclose>sma40)


Another extra thing I have done is to include the pair's rounded up spread and include them into the entry and SL calculations as per Colostarrs original post:

BUYS:
Quoting Colostarr
Entry:
1. Buy at the HH5 plus 3 pips plus the spread (open 2 trades)

Initial Stop loss:
1. Set stop loss at the LL5 minus 3 pips, minus spread
SELLS:
Quoting Colostarr
Entry:
1.Sell at the LL5 minus 3 pips minus the spread (open 2 trades)

Initial Stop loss:
1.Set stop loss at the HH5 plus 3 pips, plus spread
Attached File(s)
File Type: mq4 Small Hours v2b the-game.mq4   10 KB | 271 downloads
  • #31
  • Feb 16, 2011 1:07am Feb 16, 2011 1:07am
Hi Ido & The-game,

Entry, TP1, TP2 & SL are displayed based on the current price (candle 6th). According to the rules, Entry, TP1, TP2 & SL must be fixed based on the HH5 & LL5 of the last closed 5 candle.
  • #32
  • Feb 16, 2011 1:56am Feb 16, 2011 1:56am
Quoting forexgame
Hi Ido & The-game,

Entry, TP1, TP2 & SL are displayed based on the current price (candle 6th). According to the rules, Entry, TP1, TP2 & SL must be fixed based on the HH5 & LL5 of the last closed 5 candle.
working on that. will try to post new version this evening when im back from work. it has correct numbers for entry, tp, sl (not changing whole time on current bar), and a working Alert/Email mode.
  • #33
  • Edited 3:10am Feb 16, 2011 2:03am | Edited 3:10am
Quoting the-game
Hi forexgame,

I agree with you.

Although, I believe what you refer to as rule 2 in this thread is actually rule 3 in the original manual method thread.

No matter, that aside, the original rule 2:

BUYS:


SELLS:


will help you decide what to do with rule 3:

BUYS:

SELLS:


So, I've taken Ido's v2b indi and modified it to automatically check rule 2 along with rule 3.
Along with that I've "corrected" Ido's if statements that include the following code so that it has brackets surrounding it to be logically correct:

[code]
//...
I think your wrong with the rules:
2. BUY:The high of the most recently closed candle must be less than HH5
2. SELL: The low of the current closed bar must be greater than LL5

high of previous candle is always less than HH5, else it would be HH5 itself.
same for low of previous candle, it's always greater than LL5 else it would be ll5 itself (possible but rare, and dont fit rule then....).

i have my brackets right, looking at your changes, you had to "correct" them to make your changes work. nothing wrong with the original. Also you forgot to place brackets around your code too And ofcourse, with your change, the indicator will always give red again.
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2011-02-16 om 09.00.47.png Size: 142 KB


adding the spread is nice (according to rules), i only have the +3 / -3 added to entry and SL.
  • #34
  • Feb 16, 2011 3:09am Feb 16, 2011 3:09am
Hi forexgame / ido370,
I raised the same question on Colostarr's original thread, where I too thought we should you the 6th bar, only to be corrected.
see original thread posts #112,113, & 120.

I believe we use the close of the setup (5th bar) for our data.

Quote
Hi Ido & The-game,

Entry, TP1, TP2 & SL are displayed based on the current price (candle 6th). According to the rules, Entry, TP1, TP2 & SL must be fixed based on the HH5 & LL5 of the last closed 5 candle.
  • #35
  • Feb 16, 2011 3:33am Feb 16, 2011 3:33am
Quoting 236dave
Hi forexgame / ido370,
I raised the same question on Colostarr's original thread, where I too thought we should you the 6th bar, only to be corrected.
see original thread posts #112,113, & 120.

I believe we use the close of the setup (5th bar) for our data.
it will be. I already have that on my current version im working on, but need to test this first. When it works it will only check once per bar, and values will be from 5th candle (and won;t change according to current ask-bid anymore). Also alert/email will be fixed.
  • #36
  • Feb 16, 2011 4:39am Feb 16, 2011 4:39am
Quoting ido370
I think your wrong with the rules:
2. BUY:The high of the most recently closed candle must be less than HH5
2. SELL: The low of the current closed bar must be greater than LL5

high of previous candle is always less than HH5, else it would be HH5 itself.
same for low of previous candle, it's always greater than LL5 else it would be ll5 itself (possible but rare, and dont fit rule then....).

i have my brackets right, looking at your changes, you had to "correct" them to make your changes work. nothing wrong with the original. Also...
Ido,

I hope you realize by now you were showing me your code.
Even the filename is not mine plus the spread calculation is nowhere to be seen.
  • #37
  • Feb 16, 2011 4:54am Feb 16, 2011 4:54am
I'm very sure rule 2 is needed, I've seen the last closed candle become the highest high or the lowest low of the last 5 closed candles on more than one occassion.

You made this thread as the sister thread to the original method, but you insist to stray away from the rules? That rule is there for a reason.

I'm not trying to out-do you or any coders here, I just thought I'd contribute.
But this your thread, so I guess you can call the shots.

Thanks for sharing the code, nice piece of work.
  • #38
  • Feb 16, 2011 4:59am Feb 16, 2011 4:59am
Quoting 236dave
Hi forexgame / ido370,
I raised the same question on Colostarr's original thread, where I too thought we should you the 6th bar, only to be corrected.
see original thread posts #112,113, & 120.

I believe we use the close of the setup (5th bar) for our data.
Colostarr clearly stated in the original thread that the setup bar is the last CLOSED candle.
We should be using the last 5 CLOSED candles for our HH5 or LL5 data.
  • #39
  • Feb 16, 2011 7:23am Feb 16, 2011 7:23am
Quoting the-game
Colostarr clearly stated in the original thread that the setup bar is the last CLOSED candle.
We should be using the last 5 CLOSED candles for our HH5 or LL5 data.
I'm totally agree. There should be no confusion for this.
  • #40
  • Feb 16, 2011 9:23am Feb 16, 2011 9:23am
I'm not seeing anything wrong with the entry/TP1 displayed with current version. The entry price is calculated from the HH5 which is the last 5 closed bars which seems to be working just fine. 6th bar has nothing to do with anything as long as it's still open. TP1 is the entry price + ATR which is displayed correct.

The missing rule 2 is nothing more then using your own eyes to see the the last closed bar is less then the HH5 for a buy or 'higher' then the LL5 for a sell.

todd

Quoting forexgame
I'm totally agree. There should be no confusion for this.
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