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A Simple London Breakout V.2

  • #1,121
  • Feb 25, 2011 11:15pm Feb 25, 2011 11:15pm
Quoting hotjoey
quote: our initial entry points is the next candle to breach the box's edge.
1. May I ask a question please? Share I wait until a M15 candle closed and break the "box" with the closed price?
2. I run a demo account with your excellent strategy. So far, it works pretty good. But, I still don't know the risk of this system. Could you explain that please? Thank you very much! dude!
Hotjoey, this thread has run too long and there have been lots of views as to how to trade it. You have to make your own decision, just as you would if someone said "Here is a breakout box...how will you trade it?"

Your way of looking at it sounds like Phil Newton's he waits for a pull back so does not take the first trades.

You need to read the whole thread!! I can tell you that I have not. I have grabbed the EA and use it 'my way'.
  • #1,122
  • Mar 1, 2011 12:46am Mar 1, 2011 12:46am
Hello Everybody

Does anybody have the template used in this Breakout System..??

Thanks for sharing in advance...!!
  • #1,123
  • Mar 1, 2011 10:59am Mar 1, 2011 10:59am
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
Attached Image (click to enlarge)
Click to Enlarge Name: 未命名.jpg Size: 182 KB
  • #1,124
  • Mar 1, 2011 5:22pm Mar 1, 2011 5:22pm
Quoting fx_expert
Hello Everybody Does anybody have the template used in this Breakout System..?? Thanks for sharing in advance...!!
What template is that then?
  • #1,125
  • Mar 3, 2011 8:43am Mar 3, 2011 8:43am
Quoting z_tree
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
can anybody help me ? thx
  • #1,126
  • Mar 18, 2011 11:14am Mar 18, 2011 11:14am
Quoting z_tree
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
I found problem and test this ea this week it's great system Especially when met unilateral market. so can anybody upgrade the ea add mer said that change? closing all trades at the "SessionEndTime" I believe this to improve profitability has very great help Hope mer to come back
  • #1,127
  • Apr 9, 2011 4:14pm Apr 9, 2011 4:14pm
Quoting cesarz18
hi, this a good EA but a need to know taht how add 5 pip more at the hight level and lowest level at the box, example if the hight level is 1.5945 i need to the ea open the trade in 1.5950 to the buy trade and the same way to the sell trade, adittional, I saw that i need to waiting to trade at the last bar for example, if set the EA to 4-8gmt the Robot start to trade at 8:15gmt so i'm waiting to this bar close and if kept inside the box is a good oportunities to trade, i think that if add 5 pip more is and a filter to prevention, thanks
Hi, I have entered data from the past for the 05-08am session, and I have the same observation: to add 5 pips to the border of the session filters out many bad trades. I have been looking for an EA that can do this trick but so far I have not found any.

I appreciate all the work that has been done so far and it seems to me that a little bit more would make a difference in the BO EA.

I like the layout of the "A Simple London Breakout" thread very much, just badly missing this option in the associated EA.

Although I am not a fan of the Martingale solution, I am sure that even those who like it would prefer to see less bad trades in a row. Based on my experience, that could be achieved by adding the [x pips] buffer to the session borders.

I have other observations based on data, so if there is capacity to develop the LBO EA further [or create a variation] I can share the conclusions drawn from data and the data as proof for the strategy [there is a TP and SL strategy, too]. Please let me know if anyone can do the programming further. Please be prepared for a EURUSD session BO-reverse strategy to program as well. I can prove all the strategies with manually entered historical data.
functionaltrader.com
  • #1,128
  • Apr 11, 2011 11:21am Apr 11, 2011 11:21am
In settings of LBO to adjust a sort of "channel"

Modify : LevelsResizeFactor

For newcomers : don't think LBO is THE Holy Grail...
LBO can work a period of time and can't work another one... like now...
You are on the shoulders of Dragon Fx and nobody can't say where he goes...
Si les cons volaient, il ferait toujours nuit...
  • #1,129
  • Apr 11, 2011 1:12pm Apr 11, 2011 1:12pm
If I am not mistaken, resize factor does one thing: multiplies the range by the number entered and takes the result as the new range. One day it would add 10 pips, the next day it would add 20, depending on the original session size.

It would be a reasonable option to add standard number of pips to the range as buffer, it would be nice improvement to the EA.
functionaltrader.com
  • #1,130
  • Apr 13, 2011 8:47am Apr 13, 2011 8:47am
Quoting JohnnyBSmart
jimnz,

Here are the remainder of the indicators. These show the pivot points which I only used to show where they occurred and I am not implying to trade off these. They will not show up when you actually need to make the trade and they will repaint. That said you don't have to hit the nail on the head to make this a profitable trading method. If the pivot repaints and you're already in the trade then move the box. The important thing is to have the box on the line of support or resistance as the trade progresses....

hi, Johnny

Can you explain how to negotiate with these indicators, inputs and outputs are based on stochastic or semafor numbers 1,2,3.
Grateful in advance
  • #1,131
  • Edited 1:55pm Apr 17, 2011 1:53pm | Edited 1:55pm
Ok, I put my results of data entry here, just to testify, what a mechanical kind of breakout system could have achieved in the past and why I am looking for a simple EA. The figures below are based on the following rules:

No trade in December-January, August-September [whatever you do, these are looser months]
No trade if range is between 20-49.9 pips
TP and SL is optimized for different session [5-8h] ranges [eg. 55-59.9, 60-64.9, etc]. [How I did this: I entered pullback and maximum profit data and played with these numbers to get the highest profit figures]
Trade trigger: 10 pips outside the session range.


Data is up to data from today, if data was missing in 2011-2010 I entered data of identical month from 2009. In that sense, data below is not that accurate [sometimes we have 2 weeks' data available only in certain months], however, it shows some potential for an EA that runs on simple rules.

Nothing fantastic, about 150-200 pips a month on avarage throughout the year. Does anyone feel like programming it? I think it would be an easy job. Only need to define spike, session range, SL and TP levels for each range [5 pips wide] in percentages of the range. Simple, right?

Please let me know.

Thanks
Attached Image
functionaltrader.com
  • #1,132
  • Apr 18, 2011 7:42pm Apr 18, 2011 7:42pm
Rewand, I guess your best bet is to try to adjust the settings of this powerful EA until you find something close to what you want and also manage the trades yourself where the EA lacks any options you want. Do you want to leave the EA running for few days without watching it? Then this EA might not be exactly what you need. I use this just for placing trades initially, if I'm not around, everyday different, depending on my own bias, then I will modify SL, TP, lot sizes later if I consider. Sometime constant TP, other time, I get out half earlier for example. I also just place trades manually, no EA. It's up to every one how they adjust it and we have to thank Mer and Scaloo for providing it to us for free. For the resize factor you have to probably recalculate yourself everyday based on the range.
r u ready?
  • #1,133
  • Apr 19, 2011 2:01pm Apr 19, 2011 2:01pm
Quoting rtrs111
Rewand, I guess your best bet is to try to adjust the settings of this powerful EA...
Hi, I have just become a number guy, checked past data, - which I can give to anyone interested - and realized that there are certain ranges that give no profit over time. Also, certain ranges go well with certain TP and SL levels. I see no point experimenting further, otherwise it would become not a breakout but managed trade based on indicators [or anything that helps to determine TP or SL levels]. I work daytime, so I do not have time to manage the trade, that's the basic problem. I really can share the data if anyone interested so that it would be obvious what my thinking is based on, it is definitely not an impression but pure facts. My post is not about questionning the EA posted here but a more mechanical approach on the same phenomenon, the 5 to 8 BO.

Anyway, let me know if it is outside the topic of this thread or if it diverts the discussion. I just thought it somehow belongs here. What I would like to see is a very simple EA that works well for those losers, like me, who have to work day and night to make a living.

Regards,
Rewand
functionaltrader.com
  • #1,134
  • Apr 19, 2011 2:12pm Apr 19, 2011 2:12pm
Quoting rewand
Ok, I put my results of data entry here, just to testify, what a mechanical kind of breakout system could have achieved in the past and why I am looking for a simple EA. The figures below are based on the following rules:

No trade in December-January, August-September [whatever you do, these are looser months]
No trade if range is between 20-49.9 pips
TP and SL is optimized for different session [5-8h] ranges [eg. 55-59.9, 60-64.9, etc]. [How I did this: I entered pullback and maximum profit data and played with these numbers to get the highest...
CORRECT:
Trade trigger: 5 pips outside the session range.
functionaltrader.com
  • #1,135
  • Apr 20, 2011 7:40am Apr 20, 2011 7:40am
[quote=rewand;4556450]... I really can share the data if anyone interested so that it would be obvious what my thinking is based on, it is definitely not an impression but pure facts. My post is not about questionning the EA posted here but a more mechanical approach on the same phenomenon, the 5 to 8 BO.

Hi Rewand,
for the past couple of months I have been running this EA on a demo account. I would really be interested to study the your stats to compare them with my results.
Many thanks for your efforts
Mercatorix
  • #1,136
  • Apr 20, 2011 11:35am Apr 20, 2011 11:35am
Hi Mercatorix,

The data is attached, you can play with the numbers on the first sheet. Session ranges are indicated, you can filter any session size and month, [column C and H], click on column AF and check the sum as result of the trades.

If you change SL and TP percentages [that is relative to session range], you will see the changes in the P/L figure.

There are three columns in green, worth to explain:
V - Cdl spike: highest/lowest price level the BO candle reached
W - Pullback: highest/lowest price before price reached its highest/lowest level [that is registered in column X]
X - TP HI/LO: - highest/lowest price level to take profit

Let me know what you have to say. I expect something positive : )
Attached File(s)
File Type: zip BO calculator.zip   987 KB | 1,238 downloads
functionaltrader.com
  • #1,137
  • Apr 25, 2011 10:31am Apr 25, 2011 10:31am
Hi Rewand,
thanks for sharing your stats. I was away for a couple of days so please excuse my late reply. I'll get back to you as soon as I've had a look at your results.
Cheers
Mercatorix
  • #1,138
  • Apr 26, 2011 10:17am Apr 26, 2011 10:17am
Is it possible to get a sound alert when it break the box?
  • #1,139
  • May 15, 2011 7:42pm May 15, 2011 7:42pm
Quoting desander
Dear traders,

Since last Monday I take positions on GBP/USD, EUR/USD or USD/CHF based on your breakout system with for now nothing but winners!
Just keep in mind that I trade temporarily manually (no EA) and only wish
to get out on Target 1 on Buy or Sell entries.
For practical reasons I have no time to wait until an entry level is triggered,
so I use a script where I place OCO orders instead. So I am sure I never miss the boat if an opportunity arises.
Since I am satisfied with a daily gain of about 30 pips, I do not need to attend further...
Hi gilbert,

I know this post is old indeed from you but can you post the EX4 file for this OCO mq4 you have please as I will lke to use it too but need to EX4 file to set it up, if you can PM me for more details too that will be nice.
Very Many Thanks

Sharemaster2
Born to rule my Economic World and Make a Difference!
  • #1,140
  • Jun 13, 2011 8:26am Jun 13, 2011 8:26am
please, can anybody help me ...
I want that this EA 3 Tier London Breakout EA v1.3b.mq4
donīt make reentries. Is possible ?
Thankyou.
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