A Simple London Breakout

[quote=merlintrade;4242128]Hi Mer, i was using LB on GBPUSD & worth a lot, although it was 2:1 ratio but still consistence profit after half a year using your indicator. Thanks a lot

Excellent result Merlintrade, can you disclosed the rules you are using for the trades so far. Thanks.

So, you take an arbitrary box, which is not even the Tokyo range (you only applied 4hrs) and then apply a fib to it and then apply an arbitrary 15pip gap before the trade is entered.
Also, despite the above, why is your stop the other side of the box - if it was a breakout then the stop should be just inside the box also therefore improving the RR to about 1:2

Is anyone still using this system?

Of course, every trading day.

hi all i use alpari v3.2b eu 15m GMT+1 put in but the chart look this pic...what's the problem?how to solve THX

Every days too... +100 % in 2 months...

Please help me! The EA says:
The robot has been suspended. Reason: Lot must be 0.1000000
If I would enter the numbers the EA deletes automaticly the last zeros.
So every time i come back to the lot size 0.1

could you please explain settings, TFs and pairs

Dear Freddy, please, kindly advise setting fort he EA. my time zone is GMT +3, my broker time is gmt+0.
thank U in advance

Your broker time is GMT then EA set are OOTB.

Mine on Alpari UK (GMT +1) are Start : 06:00 End 08:44
Session End time 18:00

Now wait Freddy settings
Hope this helps you

Bert

BTW : Freddy : I asked Squalou if there is any chance to have another settings option of an "normal" SL in pips in LBOEAV6.0.
I said him that if, after entry, PA are " stalling" : better to have an short SL in pips, at 10/15/20 pips to cut drastically bad trades, not to wait an hypotetical retracement and to finish with a beautiful loosing trade in most of cases.
More bad trades ? Yes ! But small one for better profit. Your opinion ?
How is weather in Mexico ? Here raining like hell and no Trades Winds !

V7.0 version of the EA...

You are not dreaming...
Almost a year after the last posted V6.0 version, and after having moved to the "3 Tier" EA, i am giving you a new version of this EA...

The reason is a request from Bert505 to add "SL pips" in the EA.
The EA was setting the SL to the box extent, which is too far away in many occasions, where you would manually close the trade long before it hits the opposite box edge.

So, here a version that will allow you to set your SL in pips ("SLpips" input) or as a Factor of the box size ("SLFactor" input).
SLFactor works like TPFactor, and is set to 1.0 as default (this will work as the V6.0 EA);

When "SLpips" is >0, then the SL is set to this fix amount and SLFactor is ignored;
otherwise, SL is a factor of the box size indicated by SLFactor;

This version will also allow you to set your session parameters directly from the EA rather than importing them from the Indicator.
This is something i had sleeping in my drawer since... june last year when i shifted to the "3 Tier" LBO EA!

I added a true/false input to select which mode you want:

- ImportFromIndicator": if true, then session parameters are imported from the Indicator (as before, requires the Indicator to be running),
if false, then you can set all the session parameters manually directly in the EA, rather than importing them from Global Variables set by the Indicator:
- StartTime,
- EndTime,
- SessionEndTime,
- MaxBoxSizeInPips,
- EntryFactor,
- TPFactor,
- SLpips,
- SLFactor,
- LevelsResizeFactor,
- MinExtentInPips,
- MaxExtentInPips

I hope you will be happy with these additions!

Have a nice week-end...
Squalou.

Hi Squalou,

where is the different between V7.0 and "3 Tier EA"?


regards mtbf40

What i can remember from the top of my head:

- LBO v7.0 EA uses pending orders, 3 Tier EA sends market orders;
- LBO sends only 1 pending order per direction, where 3Tier will send up to 5 market orders with 5 different TP levels; although LBO has a AllowHalfClose option, so you can see this as equivalent to having 2 orders with 2 TP levels;
- entry price is different: LBO has a "EntryFactor", where 3Tier enters at box edges (adjustable by LevelsResizeFactor);
- 3Tier: lot sizes (martingaling) on the next day depend if there are still open trades from previous sessions or if all were closed;

Sq

Hi mtbf40

LBOV7.0 as LBO V6.1 work with an indi London Breakoutv9.2. 3Tier work alone
LBOv7.0 as LBOV6.1 as two "step" half closing and full. 3Tier have at least 5 levels
(Both have martinguale but for my part I run away from that)

But the main difference is that you can make in LBOV6.1/7.0 a "channel" between the box levels and real entry to avoid spike and so. In 3 Tier you go direct on fire.

As I saw testing the 2 "systems" is that LBOV6.1/7.0 is much more secure than 3Tier. Perhaps Mer has different feelings

Well wrting this I saw that Squalou has already answer : I leave my comment.

Merci Squalou : la je te dois un coup de cidre !

Bert

Huuuuuuuuu ! Big changes as I see

Mtbf : you don't need the indi London Breakout V9.2 as all times settings are inside
Excellent !

(EDIT: those who have loaded v7.1 should load v7.2 here instead... lotsize and open price was not right on market orders... )


Ok, i wasn't quite waterproof when i wrote that v7.0 SL_pips addition...

V7.2 version of the EA...

Here is a fixed version that i run thru the backtester ( with horrible week-end spread of... 15pips!!! WHY do these brokerz apply crazy spreads during the week-end ??? and WHY does MT4 not allow to specify the spread manually for backtesting ??? )
Let's see if that one will work properly in normal market conditions...


Ok, here goes:

V7.1: [Squalou]: (2011.03.26)
- the EA will open MARKET ORDER when price is too close to the pending entry price;
in that condition, no pending entry was opened, and therefore no trade was triggered;
- Added "Slippage" input in pips (it was 0);
Slippage is also used to check if we can open a market order when price is too close for opening pending orders;
- FIXED SL_pips bug in V7.0: SL_pips input wasn't used properly;

Sq

Hi Squalou
Be sure : will test these new piece of art this Sunday night
Message in your mail...
Bert

Please load v7.2 above... i made some other fixes (damn!)

Sq

It's only people doing absolutly nothing that nether made mistakes...

(the same one that are always complaining !)

Thanks Sq

All LBO Fans

On last Squalou version you need always the LBO indi to visualize the levels