5m scalp system | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Scalp, scalp, scalp 5,689 replies

Dashlat Scalp System 364 replies

To scalp or not to scalp? (Images included) 18 replies

Scalp-hello Trading System - italians understand the name :) 2 replies

Rsi+,o,emtum+stoch All Time Frame Scalp System 1 reply

Attachments: 5m scalp system
Exit Attachments

5m scalp system

  • #41
  • May 14, 2011 2:46am May 14, 2011 2:46am
Quoting Xaphod
An EA for backtesting the 5m scalp system. It does not seem to do well. Needs parameter tweeking and filters.
Note! It requires that PwR.ex4 is installed. Get it from the first post:

xM5-Scalper v0.90 EA
Input parameters

RunTime.Settings
[list][*][font=Tahoma]RunTime.Enable="08:00";...

I like how you exposed your account size there

However, I did something similar once but I have always looked at the daily manually and deciding if we were going up or down and made the EA go only in that direction... like next week only shorts in EU until the daily swaps...

It seems like it goes long even when its obviously a down trend also (within the 5M system itself).

But as you said, it needs some filters. Maybe the only long or short trade filter is what you should have, always good to leave some decisions for yur brain as it is the best indicator you will ever have, if you let it work for some time that is...

Lars,
xoxo
  • #42
  • May 14, 2011 9:31am May 14, 2011 9:31am
Quoting Xaphod
Here is an indicator I wrote to generate signals for this system.
It requires that PwR.ex4 is installed. Get it from the first post:

xM5-Scalper v0.90 Indicator
Indicator parameter Descriptions

PA.Settings
[list][*][font=Tahoma]PA.MaxBarRange=15;...
Thanks Xaphod, it works great!
  • #43
  • May 14, 2011 9:40am May 14, 2011 9:40am
Quoting Xaphod
Sorry, it does not work correctly. Update pending.

An EA for backtesting the 5m scalp system. It does not seem to do well. Needs parameter tweeking and filters.
Note! It requires that PwR.ex4 is installed. Get it from the first post:

xM5-Scalper v0.90 EA
Input parameters

RunTime.Settings
[list][*][font=Tahoma]RunTime.Enable="08:00";...
Xaphod why doesn't it work well? Manually it has been working quite well for me for some months...
  • #44
  • May 14, 2011 9:47am May 14, 2011 9:47am
A little bit "off-topic", does anyone knows about a reliable EA where you drag and drop lines on your charts and automatically place my pending orders, stoploss and take profit, and of course, make all my lot size calculations based on a % of my equity???

That would be awesome!
  • #45
  • May 14, 2011 10:04am May 14, 2011 10:04am
If you attach the indicator it is showing around 50% of the candles as signals. How are you choosing which candles to trade with this system?
  • #46
  • May 14, 2011 10:07am May 14, 2011 10:07am
Quoting 0002097
Xaphod why doesn't it work well? Manually it has been working quite well for me for some months...
Maybe I got some of the rules wrong.
Maybe it is the parameter settings.
Maybe you use some discretion when you trade and the EA does not: Exiting loosing trades before they hit the SL, not taking a trade at the top of a swing, etc.

Take a few successful manual trading days, compare them to the results from the EA on the same days, and we will see if we can make up the difference.

Writing profitable EA's is usually not an easy task.
  • #47
  • May 14, 2011 10:27am May 14, 2011 10:27am
Quoting MTrader
If you attach the indicator it is showing around 50% of the candles as signals. How are you choosing which candles to trade with this system?
You start trading at 8.00 CET and you only enter one trade at a time, being so, if you are on a trade you wait until price hits either sl or tp before you open another trade. It's all on post #1.
  • #48
  • May 14, 2011 10:28am May 14, 2011 10:28am
Quoting Larseg
I like how you exposed your account size there
It is a demo account used for development and testing so it is of no consequence.

Quoting Larseg
It seems like it goes long even when its obviously a down trend also (within the 5M system itself).
I think this one area where it fails. It needs a filter for the sub-trends. It's pretty hard to replace the brain.
  • #49
  • Edited 10:51am May 14, 2011 10:37am | Edited 10:51am
Quoting 0002097
You start trading at 8.00 CET and you only enter one trade at a time, being so, if you are on a trade you wait until price hits either sl or tp before you open another trade. It's all on post #1.
Yes, you can run it according to the rules posted in post #1. However it does have extra features to facilitate testing a wider range of options and to cover cases not defined in the rules.

Long: Pwr>0, Bar Size<=MaxBarRange, HH && HL.
Short: Pwr<0, Bar Size<=MaxBarRange, LL && LH.
SL,TP=Setup Bar Size.
  • #50
  • May 14, 2011 11:31am May 14, 2011 11:31am
Hey Ive been looking at this system and it looks great, I was wondering what you guys thought about using martingale with this strategy...

I know that martingale has a bad reputation (for account blowup by betting against the trend) but if you used it with this system you would be "betting" with the trend so to speak, and this could bring down your losses/day significantly... assuming you didnt get a huge losing streak.

However if you trade to a daily target of say 20-30 pips that could decrease this risk.

Just an idea would like to hear feedback
  • #51
  • May 14, 2011 2:35pm May 14, 2011 2:35pm
Quoting Xaphod
Maybe I got some of the rules wrong.
Maybe it is the parameter settings.
Maybe you use some discretion when you trade and the EA does not: Exiting loosing trades before they hit the SL, not taking a trade at the top of a swing, etc.

Take a few successful manual trading days, compare them to the results from the EA on the same days, and we will see if we can make up the difference.

Writing profitable EA's is usually not an easy task.
Hi Xaphod! The EA is not following the rules on post#1

- SL is not fixed, it is based on the signal candle length in pips
- TP is the same, based on signal candles length

Check my chart

And thanks for you efforts! It's really a pleasure to have someone who codes helping to develop this system!

And of course, spread must be accounted for. Let's set up the EA to first follow the rules and only then start looking for filters, tweaks, etc...
Attached Image (click to enlarge)
Click to Enlarge Name: ea1.gif Size: 16 KB
  • #52
  • May 14, 2011 2:46pm May 14, 2011 2:46pm
Quoting bjn201
Hey Ive been looking at this system and it looks great, I was wondering what you guys thought about using martingale with this strategy...

I know that martingale has a bad reputation (for account blowup by betting against the trend) but if you used it with this system you would be "betting" with the trend so to speak, and this could bring down your losses/day significantly... assuming you didnt get a huge losing streak.

However if you trade to a daily target of say 20-30 pips that could decrease this risk.

Just an idea would like to hear...
No.
  • #53
  • May 14, 2011 2:55pm May 14, 2011 2:55pm
Quoting billbss
No.
I agree, increasing risk after a loss don't make any sense for me.
  • #54
  • May 14, 2011 6:30pm May 14, 2011 6:30pm
Quoting bjn201
Hey Ive been looking at this system and it looks great, I was wondering what you guys thought about using martingale with this strategy...

I know that martingale has a bad reputation (for account blowup by betting against the trend) but if you used it with this system you would be "betting" with the trend so to speak, and this could bring down your losses/day significantly... assuming you didnt get a huge losing streak.

However if you trade to a daily target of say 20-30 pips that could decrease this risk.

Just an idea would like to hear...
Simply put, you can use martingale if you have a positive outcome expectancy. Forget it if you dont..

I have used something similar before where I traded the same system with a grading system from 1-5, the number ends up being the % I risk... However, with this system I ended up just taking 4 and 5 star trades with great success

Good for practicing patience I reckon... Which is number 1 mistakes by traders (pushing it too hard)...

It makes sense if you think about it, if you had a 100 million dollar account would you risk 5 million several times a day? no you wouldn't cause you didn't have to...

xoxo
Lars
  • #55
  • May 14, 2011 6:39pm May 14, 2011 6:39pm
Quoting Xaphod
I think this one area where it fails. It needs a filter for the sub-trends. It's pretty hard to replace the brain.
You can put in a normal RSI above/below 50 line or even better. Heiken Ashi on the 1H and 4H as an direction guide for the 5M.

The problem comes when everything is fully automated, have to add some artificial intelligence...
  • #56
  • Edited 10:22pm May 14, 2011 9:36pm | Edited 10:22pm
An EA for backtesting the 5m scalp system. Written for strategy tester.
Note! It requires that PwR.ex4 is installed. Get it from the first post, and the THV T3 Trix if you want to use that filter.

xM5-Scalper v0.93 EA Changes

 

  1. Set entry to top/bottom of setup candle. Was +1.
  2. Added spread to on buys SL/TP.
  3. Changed default settings.


Input parameters

RunTime.Settings

  1. RunTime.Enable="08:05";
    // Enable trading after this time
  2. RunTime.Disable="18:00";
    // Disable trading after this time

RunMode.Settings

  1. RunMode.Method=0;
    // Mode 0: Standard. PA + PwR
    // Mode 1: Hieken Ashi filter. PA + PwR + HA
    // Mode 2: Trix Filter. PA + PwR + Trix
  2. RunMode.BarCount=2;
    // Max bars from signal to take entry

Order.Settings

  1. Order.LotSize=0.1;
    // Lotsize
  2. Order.TPSLMode=0;
    // Take profit/Stoploss Mode.
    // Mode=0: Use size of setup bar, but minimum sizes of Order.TP and Order.SL
    // Mode=1: Use Fixed TP/SL values.
  3. Order.TP=5;
    // Take profit
  4. Order.SL=5;
    // Stoploss

PA.Settings

  1. PA.MaxBarRange=15;
    // Maximium range of bar in pips.

Attached Image (click to enlarge)
Click to Enlarge Name: xM5-Scalper EA.png Size: 31 KB
Attached File(s)
File Type: mq4 xM5-Scalper EA v0.93.mq4   18 KB | 699 downloads
File Type: ex4 xM5-Scalper EA v0.93.ex4   15 KB | 547 downloads
  • #57
  • Edited 10:20pm May 14, 2011 9:48pm | Edited 10:20pm
Quoting 0002097
The EA is not following the rules on post#1
That depends on how you set it up to run.

Quoting 0002097
- SL is not fixed, it is based on the signal candle length in pip
- TP is the same, based on signal candles length
These are configurable in the input parameters. Order.TPSLMode=0;
Note. I have switched the mode values in v0.93. And set mode 0 to default.

Quoting 0002097
Check my chart
It missed the first setup candle because it had a pending order based on the 07:55 candle.
It started at 8:00 and the setup candle is the previous candle.
Fixed by setting the start to 08:05

Quoting 0002097
And thanks for you efforts! It's really a pleasure to have someone who codes helping to develop this system!
You are welcome

Quoting 0002097
And of course, spread must be accounted for. Let's set up the EA to first follow the rules and only then start looking for filters, tweaks, etc...
Yes, I left out the spread in buy mode. See it as slippage. Anyway, I've fixed that in v0.93.
  • #58
  • May 14, 2011 9:51pm May 14, 2011 9:51pm
Quoting Larseg
You can put in a normal RSI above/below 50 line or even better. Heiken Ashi on the 1H and 4H as an direction guide for the 5M.

The problem comes when everything is fully automated, have to add some artificial intelligence...
Good ideas. The 5min Heiken Ashi does not help much.
  • #59
  • May 16, 2011 1:45pm May 16, 2011 1:45pm
Here's the results for today; 7 losses and 10 wins.
Attached Image (click to enlarge)
Click to Enlarge Name: qq.gif Size: 20 KB
  • #60
  • May 16, 2011 6:13pm May 16, 2011 6:13pm
i believe there is an EA named visual order editor that does what u want.

http://www.forexfactory.com/showthre...or#post4620221
0 traders viewing now