Rip: Reversi and Pippo combined into SteveHopwood's latest

SERIOUS WARNING

 

1. Most Forex traders lose all their money.
2. Using the robot posted here in trading Forex does not guarantee success.
3. Trading this robot could lead to serious financial loss.
4. Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
5. This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
6. At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
7. To trade this robot, you have to understand:
   1. basic support and resistance applied to Forex trading.
   2. the principles of Nanningbob Recovery trading.
   3. trend and retracement trading.
      

Welcome to Rip. This is a combo of two highly successful trading robots:

 

1. Reversi detects a trend, awaits a reversal then enters a trade in the direction of the trend. I am trading this on my live trading account.
2. Pippo uses Murray Maths lines to calculate areas in which the market has moved a long way in one direction and is due a retrace. I am only not trading this on my live account because I was waiting to combine this with Reversi.

Do not trade Rip on a live account yet. The amalgamation of the two bots will inevitably throw up bugs. LUC and his pals should have a fair few hangovers or epic proportions to overcome before this project reaches completion.

I am going to keep this first post short. You can read about the two robots in their original threads:

 

1. Reversi: http://www.forexfactory.com/showthread.php?t=294255
2. Pippo: http://www.forexfactory.com/showthre...96#post4675196

In combining the two bots, I have renamed a lot of the inputs by placing 'Reversi' or 'Pippo' in front of their names. Most of them should be clear once you have read the two threads listed above. There are a few new inputs, so flounder around until either you understand them or someone produces a user guide.

Old stagers please note: the mptm-style management features apply only to the Reversi trades. At least, that is the intention; LUC could well prove me wrong.

One clarification note: Rip is entirely independent of your chart time frame. There is a tf input for both R and P trading systems. The defaults represent the tf's I am demoing H1 to enter the Reversi trend trades and H4 for the Pippo retrace trades.


Ok guys. This baby represents: the pinnacle of everything I have learned so far; a distillation of expertise handed down to me/us by fantastically generous trading gurus; the inevitable outcome of so many hours of testing and experimentation by so many of us. This has every chance of becoming the killer EA.


Have fun.


Oh, and before anyone asks, yes, I chose the name with care and am fully aware of what RIP stands for. In using it, I am referring to those poor unfortunates unlucky enough not to come across it.




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Issues to consider
The overriding thing to bear in mind here is this: the Murray Maths lines drive this robot so

 

1. when the market lies in between bands 5 to 8, Rip looks to trade Reversi trend trades. It will manage the trades according to the principles incorporated within R.
2. when the market lies above or below these levels, then Rip looks to trade a la Pippo reversal. It will manage the trades according to the principles incorporated within P.

So far so good and so easy. Once the bugs are squished, then all is easy.

Until you consider this:

 

1. MM lines are derived from the high and low of a specified period of time.
2. When the high or low of a specified period of time changes, then the MM lines change. Please note this apparently insignificantly obvious statement. It is huge.

Rip recognises R and P trades thus:

 

1. if the market lies within the bands 5-8, then the trades are Reversi trades to be managed accordingly.
2. if the market lies outside bands 5-8, then the trades are Pippo trades to be managed accordingly.

Therefore, following a MM line change, then Reversi trades can suddenly become Pippo trades. Pippo trades can suddenly become Reversi trades.

Experienced R & P traders are already shuddering at the impact this has on Recovery as applied to ......... and Hedging as applied to ........

Got a headache yet? You should have. If not, then you have failed to understand the complexities involved.

So, what solutions do we have here? I am open to suggestions, but the most obvious is this: we fix the MM extremes at the pervious monthly/weekly high-low and investigate from there.

Ideas guys?

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A note to newbies
Congratulations. You have to be the single most fortunate noobs ever to discover a new sphere of activity. I code the odd robot from time to time and have become reasonably good at doing so. More to the point, my pathetic floundering around in the dark has attracted the attention of some of the most formidable minds at FF. A number of these individuals have given help and advice that has benefited the rest of us hugely.


You have a long road ahead of you. The threads I have listed above are not easy to understand. Within them, they require you to read still more threads that are even harder to understand. Becoming a successful Forex trader requires ridiculous amounts of hard work. Try to do it alone and you will most likely fail; stick with what is offered here and you stand a chance of succeeding. Good luck. Be patient. Work hard. The rewards await you.


Useful utilities/EA's/scripts

 

1. MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
2. Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
3. Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 Also at http://www.forexfactory.com/showthre...98#post4709098, which includes a template for both USD and the Euro.

Most promising trading EA's

 

1. The Beast: http://www.forexfactory.com/showthre...=1#post4135863
2. Pippo: http://www.forexfactory.com/showthre...96#post4675196
3. Reversi: http://www.forexfactory.com/showthread.php?t=294255
4. Ibuks: http://www.forexfactory.com/showthre...88#post4656888
5. FTLR: http://www.forexfactory.com/showthre...85#post3831885

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Posting restrictions
I have restricted the ability to post in this thread to: traders with at least 1 voucher; and traders on my 'buddy' list. I have done this because I do not want the thread cluttered with 'newbie' questions about the basics. New/inexperienced traders, this is not intended as a direct insult. What I want here is discussion with traders who fully understand what it is they are doing; when you newbs have been around a while, you will come to understand what a difference experience makes to the posts a member writes and shudder at the recollection of some of the questions you asked. I do. http://cdn.forexfactory.com/images/s..._the_floor.gif Go to your profile page; there is a link to the FF page that describes the voucher process.

Do not attempt to get around this by sending me pm's asking for help with your basic problems. Doing so will earn you an automatic ban from all of my threads.

I have set up a partner to my restricted threads at http://www.forexfactory.com/showthre...66#post3948666
There, you can post the questions that you cannot post here, about anything you need to know. Someone with the knowledge and experience you need will answer.

Traders/coders with experience who have not yet been vouched for, can get around this restriction be being added to my 'buddy' list; all you have to do is pm me to ask me to do this.

I hate you and I love you.

I thought you were snoozing.

OK. Onward and upward. Lets go.

Dave R.

Hehe. Thing is, I snooze in the bath.............

It is nearly 02:00am. It seems I am not the only forex crazed person in this part of the world. Sleep is a wonderful thing.

By the way thanks for the latest creation. It seems you have combined the best of two systems into one.

Kind regards

Yes, whenever I see you around at silly am, I think along the same lines.

Who needs sleep anyhow?

Time for beddies now though - it has been a busy old day. Bung the bot onto a demo and see what happens. In backtesting, it gets so far then hangs up its hat - no idea why. Might be mis-coding, or might be a st thingy. We shall see.

Cheers all.

Ready to Rumble. Thanks.

Yeah but... Archimedes woke up and saw his principle and it scared the Shite out of himself. What the hell displaced all this water??

Those epiphanies can hurt. OK mines' not so big but the "principle" is the same. Sorry. Too many G & T's. Got carried away with the metaphors.

Tomorrow and tomorrow creeps in these petty ways..

Coding tomorrow for sure, no more shite.

dr

Steve:

I don't know how you do it, but I am in for this ride as well. You do such great work!

Pete

Hey Steve,

Gjob man! Now does it make sense to use R to work with the trend within MM boundaries (top/bottom) and use P to trade extreme's? That way you can maximize potential of each bot based on conditions. Also use the MM lines as TP's instead of hardcoded?

Thanks,
Jag

NVM read the code and it's already happening... also jumping stop for R should be good enough for now...

I gotta question... is the intention of the recovery to work when PA is greater than band 4 and less than 9? It seems as though this is the current design... just a question who knows the right answer. I'm thinking this way when it slips the bands P can take over and you can close manually. The other option is to let R do it's thing in recovery mode regardless of band.. that's what it did before.

Jag

I think my most important question at this stage is: Where can I get bath like yours?

Well done Steve.......Thanks for this and the fun just keeps on rolling......The Fun-O-Meter went into orbit on this one....
Subscribed!!

Have a great day

whip

I've set up on demo to see what it can do.

I did have Pippo running be ran out of demo space so closed it for time being.

I've had reversi running on demo for the last month and it has made around 42%, I've moved house and for some reason i have lost account history so cannot post trades. I was running on M15 charts for several pairs using info gathered from Squalou's indy v1.04 to find best combination for candles for reverse.

The move and work have got in the way of forex so i haven't been on here much lately. Good to see as soon as i return something new to play with.

Thanks Steve

Mike

Later today, I will post a bit more information about how Rip combines the two trading strategies and the possible pitfalls that lie ahead.

I have set in running on several pairs and a few stops have been raised. One thing i have noticed is on all pairs the MA values are 0 and no trend is displayed, i am using OOTB so was wondering if anyone else sees this, see attached.

I am testing on Go Markets.

Stevus Maximus,

"Frank" the ripper (short for frankenstein) is alive.

Excellent news buddy. Can't wait to get this online.

Cheers,

getdown71

I may have found some bugs.

Even if UseIndividualTradeStopLoss = False, trades still stop if moving in wrong direction.

and

Profits are not taken at TargetAsPercentofOctave = (value) mine is set at 50 for demo purposes.

I am trying to locate in code, if I find it I will update this post.

Ok guys, please see Issues to consider in post one and respond accordingly.

Steve,

I see why you have a headache. I would never encourage drinking red wine around hard surfaces (like baths).

I think your original suggestion of using fixed monthly or weekly MM lines is a good starting point. But as I understand how things are going to work when MM lines redraw on a new high or low this might not even be an issue. There are a number of possibilities:

1/ bot is currently in a reversi trade from within 5-8 bands
this will already either be in fabulous profit or in deep recovery if a new high or low is being made that would cause the MM lines to redraw. If in recovery and the redraw would suggest a new pippo trade (against the current price direction), the recovery trade (or any deeper level recovery trade about to be applied) should suffice. Alternative if we feel like adding to our margin usage, we take the new pippo trade to "boost" recovery. Probably not a great idea. So in this situation - don't add any additional trades.

2/ the bot has no reversi trade open. MM line shift might cause a new pippo trade to be entered. That's good.

3/ the bot is currently in a pippo trade (outside 5-8 band)
this will either be in profit or recovery. If it's in recovery and the MM lines redraw to allow reversi trades, then we either trade against the direction of the current move - adding to drawdown - something we probably don't want - or with the direction, hedging and waiting for profits from reversi to be taken, probably good. Tough call. I would suggest that perhaps if in a pippo recovery we don't allow reversi trades on the same pair.

4/ the bot has no pippo trades open. MM line shift might allow new reversi trade to be taken. that's good.

So in summary - I think if in recovery, we suspend the other type of trade on that pair.

I have tons of ideas on this new fabulous toy (mainly to improve reversi) but as this is in the early stages of genetic recombination, I will send you some mail rather than clutter things here.