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Nb 10.0 trend trading system

  • #781
  • Dec 4, 2011 9:09am Dec 4, 2011 9:09am
Quoting cmeade2
...
cmeade2 what kind of indcator is showing you this lovely summary of UT / CTR / DT across many pairs?

I cant immagine myself looking throu all the charts and then deciding where to enter and what to skip - thats the hardest part for me ;( so basically one chart with a preview of the market condition would come handy - i could place pending orders for all the breakouts.

Regards!
  • #782
  • Dec 4, 2011 6:05pm Dec 4, 2011 6:05pm
Quoting Grimweasel
Does the SR indicator allow for drawing at different TFs? I mean if we could produce one that fits each TF then that would be diamond - personally I would only want H4 and Weekly added to the daily. As Bob says the Daily is the most important chart IMHO. This is where the larger non-intraday guys make their decisions along with with weekly charts for trend trading. That intra day noise trading is too stressful and unprofitable for me!!
The indicator can do any TF you just have to turn on from False to True. Dont know if using lower TF S/R will be that much help though. I find 4H gives too many false signals, I cant imagine what a 1H one would do.
  • #783
  • Dec 4, 2011 6:06pm Dec 4, 2011 6:06pm
Quoting Grimweasel
Oops, my bad - just checked the indy using MetaEditor - you can select the H4 levels instead as well as H1 and M15. That way you can turn on whatever TF you are trading. You could have daily and H4 I guess? So, I added 2 H4 levels and reduced the daily to 1. That way you have the nearest 2 (or however many you want) H4 levels and the nearest daily level - magic!!

Now, is there anyone with better coding ability to me that could add a Weekly Level? I tend to prefer 'set and forget' trading out on the higher TFs. I would prefer to use H4, Daily...
I think we posted one a couple of days earlier. If you cant find it let me know and I will post it again.
  • #784
  • Dec 5, 2011 2:39am Dec 5, 2011 2:39am
The great Steve Hopwood has now coded an EA for this method over on his forum:
http://www.stevehopwoodforex.com/php...8&p=1768#p1768
Still under development so users should add any thoughts to his forum to make this into a killer EA.
Trade less and become more profitable!
  • #785
  • Dec 5, 2011 3:05am Dec 5, 2011 3:05am
Quoting nanningbob
The indicator can do any TF you just have to turn on from False to True. Dont know if using lower TF S/R will be that much help though. I find 4H gives too many false signals, I cant imagine what a 1H one would do.
Hello Bob,

Your use of the SR's are coming along nicely I see. Great job on the explanation and charts. Squalou's indicator extends the SR's nicely and is much easier then doing it manually. Great idea by the way. You are correct in thinking the Daily is easier and especially the way you're trading the SR's.

My trading methods finds the H4 and the H1 many times more profitable then the Daily and takes advantage of the smaller waves of the market. It just comes down to each traders preference I guess. I traded nothing but the Daily for years and found the lower timeframes confusing as well as time consuming watching the screen. Since retiring and having more time I've moved down to the H1 and H4. Once you develop a method to trade them it's really easy.

Are you still trading a lot of different pairs with this method? If you are then I'd go nuts trying to watch them all on a lower timeframe and can fully understand you just trading the Daily.
  • #786
  • Dec 5, 2011 8:18am Dec 5, 2011 8:18am
Quoting JohnnyBSmart
Hello Bob,

Your use of the SR's are coming along nicely I see. Great job on the explanation and charts. Squalou's indicator extends the SR's nicely and is much easier then doing it manually. Great idea by the way. You are correct in thinking the Daily is easier and especially the way you're trading the SR's.

My trading methods finds the H4 and the H1 many times more profitable then the Daily and takes advantage of the smaller waves of the market. It just comes down to each traders preference I guess. I traded nothing but the Daily for years...
Because I work FT I only use higher end charts. Miss too many trades and closings on the lower TF plus make too many mistakes. Love setting my trades before I go to work and then adjusting them every 4-8 hours. I never like trading S/R levels that much until I stuck with the daily. Now it works very well. Yes I trade 20 some pairs. Learning curve is much quicker because you get every kind of scenario very quickly. I like this system with the higher volatile pairs, much easier to get those big pip days. Anyway stopped by your new thread, will read it out from time to time.
  • #787
  • Dec 5, 2011 8:24am Dec 5, 2011 8:24am
After 4 months of 10.0 + trading still clipping along at 10% a month. I would have done better but I accidentally closed some trades trying to get a close pending script to work and it closed open trades instead. Took almost a 5% loss there but still managed over 10% that month. So probably without that mistake would have made over 15% in November. Anyway here is my chart for the last 4 months. 37% increase of my account 3 winning months 1 losing month average per month 9.4%
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
  • #788
  • Dec 5, 2011 8:28am Dec 5, 2011 8:28am
November was almost exclusively 10.1 trades, not quite all. 12.4% increase of my account and that was after I made a huge mistake testing a script on a live account. Dumb I know. Closed most of my open positions that were in DD. Anyway even with that mistake made a nice increase for the month. Here is my chart for the month of November.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
  • #789
  • Dec 5, 2011 11:00am Dec 5, 2011 11:00am
Hi Nanningbob,
Great, great thread. Best I've seen.
What pairs are you viewing today? I looking at AUDCAD, buy order for 1.04460, with tp at 1.04545
  • #790
  • Edited 5:09pm Dec 5, 2011 4:37pm | Edited 5:09pm
Quoting heebbyjeeby
Hi Nanningbob,
Great, great thread. Best I've seen.
What pairs are you viewing today? I looking at AUDCAD, buy order for 1.04460, with tp at 1.04545
That is a system trade that fits but I am kind of bearish on the AUD now except the aud/chf. If you look at the daily charts you will see several double tops or head and shoulder formations so I am leery of buying the AUD right now. NZD pairs look good for buys also. The problem I see right now is the market had a nice run this last week and may just rest or reverse. It is like the market is waiting for the next news story to hit and is getting weary.

My experience is December is a very poor month to trade and I will be shutting down for the year probably sometime this week. There are usually a couple of pairs that will just do a slow move all month in one direction.

DO NOT TRADE THE NZD THE WEEK OF CHRISTMAS

even though the history has been wiped clean if you look at the past it has moved hundreds even a thousand pips in a short time. There simply is not enough money flowing for it to handle big orders so it can make sudden big jumps out of nowhere. NZ is a country of just 4-5 million people so their currency is not that big. Anyway December has never been kind to me and family is coming to China so I wont be doing much posting or trading. Have a happy holidays.
  • #791
  • Dec 6, 2011 3:43pm Dec 6, 2011 3:43pm
Squalou - Great indicator. Thanks a lot for your efforts.

I am trying to incorporate this indicator into an EA and backtest the system. The problem is that the indicator only draws the lines for the 0 day/bar.

This doesn't work properly in backtest. The ideal way would be to store the most recent support/resistance in IndicatorBuffers.

I have tried to do this, but am getting different values than you are.

Is it possible for you to convert the indicator so that it stores the values in IndicatorBuffers ? Since we are restricted to only 8 buffers, this will alter the ability to have multiple timeframes in the same indicator. I have got around to this problem by restricting the indicator to only one timeframe and specifying that as an external variable. The user will need to attach multiple instances of the indicator to the chart window if he wants S/R from different timeframes.

Since I am not able to PM you, you are welcome to PM me. I will be happy to send you my code to discuss this further.



Quoting squalou
Hi all,

censura PM'ed me to ask for a small improvement in the SR indicator:
creating GlobalVariables with the SR levels so that they can be collected from other EAs/indis.

Although the levels could be collected using the "trendline" objects on the chart with ObjectGet() (this would already work with the previous indicator), the main interest of GlobalVariables is that they are still available after closing the chart where the indi was loaded;


- i added a "GlobalVarPrefix" input: all GlobalVariables created by the indi will have...
  • #792
  • Dec 6, 2011 10:40pm Dec 6, 2011 10:40pm
Quoting ashinvest
Squalou - Great indicator. Thanks a lot for your efforts.

I am trying to incorporate this indicator into an EA and backtest the system. The problem is that the indicator only draws the lines for the 0 day/bar.

This doesn't work properly in backtest. The ideal way would be to store the most recent support/resistance in IndicatorBuffers.

I have tried to do this, but am getting different values than you are.

Is it possible for you to convert the indicator so that it stores the values in IndicatorBuffers ? Since we are restricted to only 8 buffers,...
Hello ashinvest,

Are you basing your EA on a certain timeframe? The reason I ask is squalou's indicator is a revised indicator that I supplied Bob and that indicator is actually the base indicator. Squalou revised this indicator to extend the lines of support and resistance and limit the look back bars.

You can write the code based on the indicator values which are the swing high or swing low fractal.

Your can send me a Pm or ask questions here. I'd be interested in hearing your ideas as I trade the SR's and have done so for years.

Johnny
  • #793
  • Dec 7, 2011 12:41am Dec 7, 2011 12:41am
Quoting Grimweasel
Oops, my bad - just checked the indy using MetaEditor - you can select the H4 levels instead as well as H1 and M15. That way you can turn on whatever TF you are trading. You could have daily and H4 I guess? So, I added 2 H4 levels and reduced the daily to 1. That way you have the nearest 2 (or however many you want) H4 levels and the nearest daily level - magic!!

Now, is there anyone with better coding ability to me that could add a Weekly Level? I tend to prefer 'set and forget' trading out on the higher TFs. I would prefer to use H4, Daily...
Hello Grimweasel,

Here is an indicator I revised for H1, H4, D1 & W1.

I hope this helps,

Johnny
Attached File(s)
File Type: ex4 #KG-W Support and Resistance.ex4   9 KB | 534 downloads
  • #794
  • Dec 7, 2011 2:11am Dec 7, 2011 2:11am
Quoting ashinvest
Squalou - Great indicator. Thanks a lot for your efforts.

I am trying to incorporate this indicator into an EA and backtest the system. The problem is that the indicator only draws the lines for the 0 day/bar.

This doesn't work properly in backtest. The ideal way would be to store the most recent support/resistance in IndicatorBuffers.

I have tried to do this, but am getting different values than you are.

Is it possible for you to convert the indicator so that it stores the values in IndicatorBuffers ? Since we are restricted to only 8 buffers,...

Hello ashinvest,

if you want to retrieve the values from an EA, you can use iCustom() call which will make the indicator compute the selected SR levels for the current bar that the EA is backtesting.

The indi plots the SR levels extensions as "fib" lines on the chart, but these are removed removed when the indi is unloaded (this is done in deinit()), so they are not available once the iCustom() call returns.

However, the indi also creates GlobalVariables for the extended SR levels, which are not deleted when the indi is unloaded.
The EA can therefore trade from these GVs, even in backtest.
I strongly suggest to set the "GlobalVarPrefix" input argument of iCustom() to a specific string of your own in the EA, to prevent any interference with other indicator instances that would be loaded on other charts... MT4 dos not create a "waterproof" space for the backtest environment itself, so GlobalVariables from the backtesting EA are merged with the ones that are used/modified by the real-time trading environment (one of these too-many annoying mt4 flaws again.....)

Here is a typical iCustom() call you could use to get D1 SR levels:

Inserted Code
  

  // load the indicator to determine and display the nearest D1 S&R levels:
   string GVprefix = "EA S&R";
   iCustom(Symbol(),Period(),"10.1 S&R B", TRUE,2, false,0, false,0, false,0, Black, Red, 60, GVprefix, 0,0);
   // now collect the D1 S&R levels that you want to work with:
   double D1_S1 = GlobalVariableGet(Symbol()+GVprefix+"D1S1");
   ...etc...
Don't bother about the "mode" and "shift" values, they are irrelevant as we don't want to get any of the Buffers values in return, but just run the indicator to produce the GVs.


The other (best) solution would be to bring the indicator "core" code in-house into the EA itself, so you wouldn't bother using iCustom() calls (which are also veeeeeery cpu consuming).
But that's not a quick-n-easy task anymore...


Sq
  • #795
  • Dec 7, 2011 11:46am Dec 7, 2011 11:46am
Johnny,

I am not basing my EA on a certain timeframe but am trying to follow Bob's system. The problem I run into is:

1. I want to backtest the system. Squalou's indicator only paints the nearest S/R for the current bar. if I want to manually backtest the system, I dont know the nearest S/R for the past bars.

2. Also if you use MT4 backtest and want to debug your code or understand why a trade was placed, it is hard as the Squalou's indicator plots S/R for only the most recent candle. If I were to verify trades that were done in the past, I dont have a way.

I have written my own indicator following Squalou. It will display the nearest S/R for any bars on the chart. Yes it gets messy but it serves the purpose. It uses fractals and the rest of the code is kindly borrowed from Squalou. Feel free to try it and send me any bugs/comments.

- Ash

Quoting JohnnyBSmart
Hello ashinvest,

Are you basing your EA on a certain timeframe? The reason I ask is squalou's indicator is a revised indicator that I supplied Bob and that indicator is actually the base indicator. Squalou revised this indicator to extend the lines of support and resistance and limit the look back bars.

You can write the code based on the indicator values which are the swing high or swing low fractal.

Your can send me a Pm or ask questions here. I'd be interested in hearing your ideas as I trade the SR's and have done so for years.

Johnny...
Attached File(s)
File Type: mq4 AshNearestFractal.mq4   11 KB | 354 downloads
  • #796
  • Dec 7, 2011 2:20pm Dec 7, 2011 2:20pm
Quoting ashinvest
Johnny,

I am not basing my EA on a certain timeframe but am trying to follow Bob's system. The problem I run into is:

1. I want to backtest the system. Squalou's indicator only paints the nearest S/R for the current bar. if I want to manually backtest the system, I dont know the nearest S/R for the past bars.

2. Also if you use MT4 backtest and want to debug your code or understand why a trade was placed, it is hard as the Squalou's indicator plots S/R for only the most recent candle. If I were to verify trades that were done in the past, I dont...
Hello ashinvest,

I understand what you're saying but as far as verifying trades taken in a backtest, on most trades the PA will pivot off the most recent SR's as these hold the most value. As the PA moves into a chart value that has not been visited for some time then those past SR's become the SR pivot points. These are all very easy to see by zooming the chart out.

I draw horizontal lines manually through the past swing lows and highs so a particular time setting in the user input of Squalou's indicator is not a guess but taken from visually looking at the chart. This should be done by all users and then you will know if the setting needs to be 20, 30, 60 or whatever. Bob's request to Squalou to automate the need to manually draw the lines with an indicator was a good idea but keep in mind you still must view the chart to see the past SR's. Writing code for this might be difficult as a number of days setting would have to encompass all scenarios.

Squalou's indicator will use the user input "Days Back" to show valid SR points. Tying this to the most recent SR value is only logical but if the most recent SR was 30 days past then that is the most recent. If you only have the Days Back set at something less than 30 then a line will not show up on your chart.

I will review your indicator but please understand my coding skills are very limited. I'm a hacker not a coder of MT4. I can read code and understand it but in my attempts to write I always miss something. It is a very exacting exercise and not one I care to do for any great length of time. I've spent my time learning to trade. I have written hundreds of EA's and indicators but not with MT4 code. I usually end up having one of the coders here on FF bail me out as I get 99% but the remaining 1% I fail to see the problem in the code.

As far as writing an EA based on the indicator I will tell you used by itself your backtest will more than likely fail or at the very least be mediocre. If you are trading SR to SR then you need something or some means to show price exhaustion. Understand that an H4 SR in past history didn't occur on the chart immediately. Hits on past SR's can be seen immediately but any new level will repaint as the PA continues in that direction.

When I trade I look at the SR's as targets but I use a multitude of other things to light the way so to speak. I use trendlines to help with direction and to show possible reverses as these trendlines are crossed. When the PA hits an SR a decision must be made or code must be written to handle all possibilities. I let the PA come to me and one of my possible scenarios. I don't make the trade so to speak but let the PA do it. All I do is set the trap. The most difficult is the PA hooking back on a retest of the SR. The depth of the hook doesn't always hit an SR before hooking back. Another difficult situation is the orphaned trades where the PA turns before hitting a prior SR. You must have a rule in place to handle this wayward trade or risk a loss.

All of the above scenarios can and will on occasion take you out of a trade early but that just means code or decisions to get you back into the trade even if the decision is to wait for a better setup. If you let the cost of the trade limit your decisions then you will be lost so don't do it. The cost of the trade is the cost of doing business, no more and no less.

Squalou is the expert coder and let's hope he looks at your work as he is very skilled.

Trade well and good luck,

Johnny
  • #797
  • Dec 8, 2011 2:36am Dec 8, 2011 2:36am
Thanks JonnyBStmart.

I was after a weekly support resistance indicator that such as Squalou's that would also show the most (dynamic) weekly lines

It seems most SR indicators just show the most previous swing highs and lows. Is there one that calculates the pivot ones where there have been multiple (say more that 3) tests of that level from both sides? I currently do this manually from a line chart.
Could Squalou add a weekly level to his? ;-) Great Indy btw Squalou!
Trade less and become more profitable!
  • #798
  • Edited 4:28am Dec 8, 2011 4:08am | Edited 4:28am
Quoting Grimweasel
Thanks JonnyBStmart.

I was after a weekly support resistance indicator that such as Squalou's that would also show the most (dynamic) weekly lines

It seems most SR indicators just show the most previous swing highs and lows. Is there one that calculates the pivot ones where there have been multiple (say more that 3) tests of that level from both sides? I currently do this manually from a line chart.
Could Squalou add a weekly level to his? ;-) Great Indy btw Squalou!
Hi Grim,

You might try Hanover's thread "Recent SR indicator". I know of a couple of coders working on this type of indicator but don't know if complete yet.

I find even with this line I wouldn't trade the line any differently then a most recent line. It may be stronger but that doesn't mean the PA won't blast through it. The PA can 1. go through the SR, 2. bounce to opposite SR, 3. bounce briefly and go through SR, 4. retrace and then #2, 5. retrace and then #1 or 6. Hit, just miss the SR or bounce then go into a sideways move. All lines of the SR's are played the same. How you set up your plan is the key to winning on every possible scenario.

Johnny
  • #799
  • Edited 5:56am Dec 8, 2011 5:42am | Edited 5:56am

  1. Hello to every one im new here and im kind of new in trading.Today i found this system and i decided to try it.At this moment im stil in trading with 40 pips profit and i aspect to hit TP 50 pips.I just want to say that it's my first trade with this system and it gives me confidence.I will stick with this trading system because i think it's a good one.


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  • #800
  • Dec 8, 2011 9:04am Dec 8, 2011 9:04am
where was you entry and exit?

Quoting marcelms

  1. Hello to every one im new here and im kind of new in trading.Today i found this system and i decided to try it.At this moment im stil in trading with 40 pips profit and i aspect to hit TP 50 pips.I just want to say that it's my first trade with this system and it gives me confidence.I will stick with this trading system because i think it's a good one.


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