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Hanover: an auto-trader using Recent Strength

  • #121
  • Oct 24, 2011 12:46pm Oct 24, 2011 12:46pm
Thanks fot the advice

Regards
Alex
Quoting winsteadglenn
Hi, Sandy.
I have H4 by itself, with 2,2 slope unchanged, otherwise large lot sizes on a demo account of one million dollars on Tadawul, Sig, Go Markets.
Go M. is up five percent since last evening.
My simple H1, otherwise the same, on Broco is up 4%.
I took my cue from Bluto's comment that H4 is the sweet spot for his soontobereleased EA, which is strength related, methinks.

Glenn
  • #122
  • Oct 24, 2011 12:49pm Oct 24, 2011 12:49pm
Quoting winsteadglenn
Hi, Sandy.
I have H4 by itself, with 2,2 slope unchanged, otherwise large lot sizes on a demo account of one million dollars on Tadawul, Sig, Go Markets.
Go M. is up five percent since last evening.
My simple H1, otherwise the same, on Broco is up 4%.
I took my cue from Bluto's comment that H4 is the sweet spot for his soontobereleased EA, which is strength related, methinks.

Glenn

Thanks Glenn. I'll try the H4 set-up. That's one of my favorite time frames

Sandy
  • #123
  • Oct 24, 2011 5:48pm Oct 24, 2011 5:48pm
Attached is my shell EA - the software I use to code EA's so quickly. It does not trade. Drag it onto a chart and you will see that it identifies the strongest and weakest currencies and creates a trading pair from them, just as Hanover does.

This one I attach really for the coders but feel free to download it and place it on a chart. All it does is identify the strongest and weakest currencies according to your TimeFrames and SlopeConfirmationCandles inputs. There is yet no idiot checking, so make sure your TimeFrames and SlopeConfirmationCandles hold a single entry. The idea is to allow our robots to identify the strongest/weakest currencies on our selected time frame, and then trade in the direction indicated by this.

For example, here is one I shall code tomorrow. Suppose we have a simple moving average cross system. Usual stuff, trade in the direction of the cross.

So now suppose we have a cross upwards of the GU 200 ma by the 20 ma (picking figures at random) signalling a buy. Now we only take the buy if the GBP is the strongest and USD the weakest currencies as identified by Recent Strength.

More tomorrow.

Attached File(s)
File Type: mq4 Generic auto trading robot by Steve Hopwood.mq4   118 KB | 856 downloads
  • #124
  • Oct 24, 2011 6:11pm Oct 24, 2011 6:11pm
Quoting SteveHopwood
Attached is my shell EA - the software I use to code EA's so quickly. It does not trade. Drag it onto a chart and you will see that it identifies the strongest and weakest currencies and creates a trading pair from them, just as Hanover does.

This one I attach really for the coders but feel free to download it and place it on a chart. All it does is identify the strongest and weakest currencies according to your TimeFrames and SlopeConfirmationCandles inputs. There is yet no idiot checking, so make sure your TimeFrames and SlopeConfirmationCandles...
Great work! Had a couple of EA's that broke even in the long run, this might give me that extra edge.
  • #125
  • Oct 24, 2011 6:15pm Oct 24, 2011 6:15pm
Quoting wickedwin
Great work! Had a couple of EA's that broke even in the long run, this might give me that extra edge.
'tis what we are all looking for.

Actually, I cannot resist trying out the module, so I am coding the ma cross EA even as you read this. Might be crap but should be up and running in a few minutes.

  • #126
  • Oct 24, 2011 6:35pm Oct 24, 2011 6:35pm
Excellent plan, Steve! Use the Hanover data to find the pair that is most likely to produce the winning trade.
  • #127
  • Oct 24, 2011 6:56pm Oct 24, 2011 6:56pm
Having played with coding an ea using RS, I realise that we need a non-chart specific shell ea.

For example, if EUR is the strongest and JPY is the weakest, we do not want to have umpteen non EJ charts open - that is just a waste of computer resources.

What we need a a shell that contains RS and identifies the pair to trade, then tacks onto that the actual trade trigger.

Leave it with me.

  • #128
  • Oct 24, 2011 7:17pm Oct 24, 2011 7:17pm
steve

r u to say that ea just using RS as indicator only ?
  • #129
  • Oct 25, 2011 6:30am Oct 25, 2011 6:30am
I have had a bath and a sofa lol; here are my conclusions.

We can combine Stealth with a Hanover module and cut down of processor use by reading the Recent Strength output file just before sending a trade.

To take the MA crossover example. The bot detects a cross and so is ready to trade. At that point, it re-reads the RS data and allows the trade if it is in the direction shown by this data. Imagine EU and a cross long. If the RS readings on our selected timeframes lines up, then the trade is sent.

The attached still does not trade. It isolates the charts two currencies and shows their strength over our selected time frames.

The next step is to repeat this process for SlopeConfirmationCandles so that we can also use the slope as part of our trade-filtering process.

Attached File(s)
File Type: mq4 Shell Hanover auto trading robot by Steve Hopwood.mq4   52 KB | 611 downloads
  • #130
  • Oct 25, 2011 7:04am Oct 25, 2011 7:04am
Brilliant Steve
  • #131
  • Oct 25, 2011 9:46am Oct 25, 2011 9:46am
Am seeing differrences between Recent Strength chart and comment on the Hanover EA. The specifics of the moment are not critical, but illustrate the problem I am seeing. Right now on the H1 and H4 Recent Strength chart, CHF is the strongest on both tf's, and on both tf's CAD is weakesst. On the Hanover EA, the H1 comment is AUD strongest, NZD weakest; on H4 the comment is CHF strongest, USD weakest. The commments on the Hanover EA have been this way for well over 2 hours, while the strongest/weakest plots on the charts have changed a couple of times over the past 2 hours. Is there a solution for this? What can I do on my end if anything. Thanks for your help.
  • #132
  • Oct 25, 2011 9:57am Oct 25, 2011 9:57am
I set up a $5k FXDD demo with Hanover looking for H4 trades only as Glenn has described. I had 2,2 slope confirmation. I over traded with .5 lots and no margin checks (aren't demos great ? ) I'm using 100 pips SL and 50 pips TP. I have Steve's MPTM set for a jumping stop to BE+2 at 40 pips. Anyway H took 2 trades last night - chfjpy and eurcad. Both ended in profit and the account is up 11.5 %. Quite spectacular
  • #133
  • Oct 25, 2011 4:40pm Oct 25, 2011 4:40pm
Still not a trader yet. I am still inching my way forwards.

I am taking my time about all this. The biggest lesson I have learned from the last couple of years is this: if robust code is in place, then it can be safely mucked around with.

On t'other hand, if the code is flakey, then mucking around with it invites LUC and his buddies to throw The Bender Of All Creation. I am not a trained programmer, so robust coding is not easy for me. You want spaghetti, then I am your guy.

Here is my thinking thus far. We have a trade trigger, say the moving average cross. There is an EU ma cross upwards, so the bot is looking to buy EU. This is when the Hanover module kicks in.

Two possible courses of action:

 

  1. Using slope: EUR is strengthening and sloping upwards. USD is weakening and sloping downwards. Both on our chosen time frames. Send the trade. If the H conditions are not met, then cancel the trade.
  2. Not using slope: EUR is strengthening and is above a threshold a la RSI overbought etc. USD is weakening is below a threshold a la RSI oversold. Both on our chosen time frames. Send the trade. If the H conditions are not met, then cancel the trade.


The attached shows the RS values for our chosen timeframes on the current chart. 'Shift' is a term that mql4 uses a lot to refer to x candles ago, so candle shift 0 is the current candle (eg High[0] gives the high of the current candle) and candle shift 2 refers to 2 candles ago (eg High[2] gives the high of two candles ago).

The function of the attached is to show to myself that I can code a reading of the relevant output from RS.

Attached File(s)
File Type: mq4 Shell Hanover auto trading robot by Steve Hopwood.mq4   51 KB | 564 downloads
  • #134
  • Oct 25, 2011 4:42pm Oct 25, 2011 4:42pm
Quoting nubchai
I set up a $5k FXDD demo with Hanover looking for H4 trades only as Glenn has described. I had 2,2 slope confirmation. I over traded with .5 lots and no margin checks (aren't demos great ? ) I'm using 100 pips SL and 50 pips TP. I have Steve's MPTM set for a jumping stop to BE+2 at 40 pips. Anyway H took 2 trades last night - chfjpy and eurcad. Both ended in profit and the account is up 11.5 %. Quite spectacular
Excellent. If the Hanover trading EA proves to be profitable, then we do not need anything else and I can stop developing the general Hanover RS module.

Keep going, Tiger.

  • #135
  • Edited 5:00pm Oct 25, 2011 4:59pm | Edited 5:00pm
Quoting SteveHopwood
Excellent. If the Hanover trading EA proves to be profitable, then we do not need anything else and I can stop developing the general Hanover RS module.

Keep going, Tiger.

Rowrrrrrr lol. Will do.

P.S. this is the Glenn Winstead strategy by the way. If it makes us rich we will have to stake him to many beers
  • #136
  • Oct 25, 2011 5:50pm Oct 25, 2011 5:50pm
Quoting nubchai
Rowrrrrrr lol. Will do.

P.S. this is the Glenn Winstead strategy by the way. If it makes us rich we will have to stake him to many beers
The strategy straight out of the PDF is also profitable Steve....Nice one Glenn
  • #137
  • Edited 6:16pm Oct 25, 2011 5:52pm | Edited 6:16pm
Still not trading - not deliberately anyhow. If the bot does happen to send a trade, then ignore it.

Bung this on a demo and add an SMA(3) and SMA(8) to your chart. The EA chart display should show when the 1 has crossed the 8 along with the RS values.

Next step is to allow the trade after the cross if the RS values are correct.

Bear with me guys. I am kind-of thinking aloud here.

Attached File(s)
File Type: mq4 Moving Average cross with Hanover auto trading robot by Steve Hopwood.mq4   44 KB | 536 downloads
  • #138
  • Oct 25, 2011 6:17pm Oct 25, 2011 6:17pm
I put the wrong ea in the previous post. Blame the antake of incohol. Correct version is attached now.

Possibly.

  • #139
  • Oct 25, 2011 6:33pm Oct 25, 2011 6:33pm
This is me done for the day. I am off to bed. More tomorrow. Let's hope for a productive bath.

  • #140
  • Oct 26, 2011 4:02am Oct 26, 2011 4:02am
Good morning Steve. I am just running the original H at the moment with M15 & M30 and no slope just to get an idea of the different currency crosses, some of which I've never ever looked at before i.e. AUDCHF, NZDCHF, NZDCAD etc !!

It's trading like a trollop at the moment, understandably, and I've MPTM handling the trades set BE 25, BE+ 5, TS 25. (All trial and error )

I've made a small loss so far but with the MPTM settings it's clawing them back as I type, however if H placed sell and buy arrows on screen it would really help to get a more visual understanding of how some of these pairs move and maybe apply different MPTM settings depending on the pair.

Do you think this a possibility in the near future ?

Cheers.
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