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Need Big Help on Indicator Coding

  • #1
  • First Post: Mar 10, 2012 4:04am Mar 10, 2012 4:04am
Hi.

I need some huge help coding an indicator. It's the same as the Cobraforex strategy (NOT COBRA THV).

I have been back testing this and found it profitable with a high win:loss ratio and a high reward:risk ratio so I thought I'd share it even though it's all over the internet. I like to swing trade on the daily charts, so I need an email alert set up when all conditions are met to enter (if that is possible).

I have attached a template and also a flow chart word document stating the conditions for entry. I'm after something that will alert and send an email when all conditions on the flow chart are met.

Cheers!
Attached File(s)
File Type: tpl CobraSystem.tpl   2 KB | 617 downloads
File Type: doc System rules.doc   124 KB | 746 downloads
File Type: pdf ForexCobraSystem.pdf   1.4 MB | 6,518 downloads
  • #2
  • Mar 10, 2012 5:21am Mar 10, 2012 5:21am
Linked to related thread

http://www.forexfactory.com/showthread.php?t=347104
  • #3
  • Edited Mar 11, 2012 4:03am Mar 10, 2012 11:30am | Edited Mar 11, 2012 4:03am
First draft.

Please let me know what should be modified.
Edit: Modified a few things. Please use Cobra_1.1 and delete Cobra.

Inputs:

ShowChartAlerts = true; // true or false
AlertEmailSubject = ""; // if you insert no text, no e-mail will be sent

AlertTextCrossUp = "Cobra cross UP"; // choose your own text

AlertTextCrossDown = "Cobra cross DOWN"; // choose your own text
Attached File(s)
File Type: ex4 Cobra_1.1.ex4   6 KB | 721 downloads
  • #4
  • Mar 10, 2012 12:40pm Mar 10, 2012 12:40pm
Hey. Thanks!!

I have attached it to the chart, but can't see any visual reference to the indicator?
  • #5
  • Edited Mar 11, 2012 8:00am Mar 10, 2012 1:34pm | Edited Mar 11, 2012 8:00am
It will draw an arrow when conditions are met and give an Alert.
It sends an e-mail too.
I donīt like cluttered charts, so the indicator does not write not needed things on the chart.

Here a test with strategy tester on GU M5
http://i.imgur.com/q3G44.jpg
  • #6
  • Mar 10, 2012 1:43pm Mar 10, 2012 1:43pm
Quoting fxtr51
It will draw an arrow when conditions are met and give an Alert.
Should send an e-mail too but that needs forward testing when the market is open.
I donīt like cluttered charts, so the indicator does not write not needed things on the chart.
Hi.

Thank you so much. I'll back test it with a strategy tester tomorrow. So the indcator you have written is as per the flow chart conditions?

Thanks again! I really appreciate it.
  • #7
  • Edited Mar 11, 2012 8:01am Mar 10, 2012 2:07pm | Edited Mar 11, 2012 8:01am
The conditions are these:

For LONG:
1. First candle closes above orange top and blue top lines. Done.
We need to discuss another thing:
Should the first candle open below the blue top line ?
2. Second candle opens and closes above blue top line. Done.

3. Is second candle a Reversal candle ? Needs more precision maybe.
How do you define a "reversal candle" ?
The indicator checks if Open < Close . If yes, then trend is still up
and it is not considered to be a "reversal candle".

If you think you can define a reversal candle more precise, let me know.
There are pattern indicators available and I could include a module which
is checking for certain reversal-candle patterns, but first I need to know which ones.
4. Is ADX above 22 ? If yes, condition for trade is met. Done.
What about ADX = 22 ?

5. Is ADX moving upwards or downwards ?
This is not checked yet because it is not precise enough.

How do you define "upwards" ? Not Done. Needs precise rules for "upwards".
Can be many things.
For example: Current ADX >= Previous ADX
or
Current ADX > Previous ADX && Previous ADX > ADX of 3rd candle back

How many candles should the ADX be checked and what should be the
requirement for "upwards" ?

First you (or we) have to define exactly what this "upwards" means, then I can code it.

For Short vice versa.

6. Is it a Friday ? Not Done.
Is not checked.
I hope the trader knows what day of week it is, but if you think the indicator should check it, it will be coded.

Latest version : Cobra_1.1 Please delete Cobra and only use latest version.

To fellow coders:
I am not a mql coder, I have learned PL/1, Cobol and Assembler 20 years ago, so I know the basics of programming. For mql I have to look around and read and find the correct code.
If a good coder is interested to help and improve my code, I will send him the source-code.
There are many good coders around but usually they have neither time nor interest to participate
in projects where members ask for free indicators or EAs.
  • #8
  • Mar 11, 2012 5:28pm Mar 11, 2012 5:28pm
For LONG:
1. First candle closes above orange top and blue top lines. Done.
We need to discuss another thing:
Should the first candle open below the blue top line ?

The check should only be whether the candle closes outside the blue and orange zones, where it opens is irrelevant. The first candle will usually open inside the blue zone but may open outside in rare cases where the previous close was very close to the outer line of the zone and the next candle then gaps to open outside the zone
2. Second candle opens and closes above blue top line. Done.

3. Is second candle a Reversal candle ? Needs more precision maybe.
How do you define a "reversal candle" ?
The indicator checks if Open < Close . If yes, then trend is still up
and it is not considered to be a "reversal candle".

If you think you can define a reversal candle more precise, let me know.
There are pattern indicators available and I could include a module which
is checking for certain reversal-candle patterns, but first I need to know which ones.

If a pattern indicator is used then I would use pin bars and dojis
4. Is ADX above 22 ? If yes, condition for trade is met. Done.
What about ADX = 22 ?

A signal should only be generated if ADX > 22 and not ADX = 22

5. Is ADX moving upwards or downwards ?
This is not checked yet because it is not precise enough.

How do you define "upwards" ? Not Done. Needs precise rules for "upwards".
Can be many things.
For example: Current ADX >= Previous ADX
or
Current ADX > Previous ADX && Previous ADX > ADX of 3rd candle back

How many candles should the ADX be checked and what should be the
requirement for "upwards" ?

First you (or we) have to define exactly what this "upwards" means, then I can code it.

For Short vice versa.

I would test for the previous 2 bars i.e. if the current bar is higher than the previous bar, and the previous bar is higher than the one before that

My opinions shown in blue above, this is my interpretation only

Andy
  • #9
  • Mar 11, 2012 6:07pm Mar 11, 2012 6:07pm
Andy B,
this is what you will get if you only check Candle 1 like you suggested.
Quote
The check should only be whether the candle closes outside the blue and orange zones, where it opens is irrelevant. The first candle will usually open inside the blue zone but may open outside in rare cases where the previous close was very close to the outer line of the zone and the next candle then gaps to open outside the zone
There are many first candles which have their close outside the blue and orange top or bottom.

This is a screenshot from a EURJPY H1 chart.


http://i.imgur.com/7q8gj.jpg
  • #10
  • Mar 11, 2012 6:48pm Mar 11, 2012 6:48pm
Quote
If a pattern indicator is used then I would use pin bars and dojis
Yes.
And what about engulfing candles ?
And Piercing Line and Dark Cloud Cover ?

I need some sleep now.
See you tomorrow.
  • #11
  • Mar 11, 2012 7:35pm Mar 11, 2012 7:35pm
Quoting fxtr51
Andy B,
this is what you will get if you only check Candle 1 like you suggested.
There are many first candles which have their close outside the blue and orange top or bottom.

This is a screenshot from a EURJPY H1 chart.


http://i.imgur.com/7q8gj.jpg
How about an entry signal only after an exit signal? So multiple consecutive buy signals would not be generated, but a new buy signal would appear after the prior buy signal had been followed by an exit (close below the blue zone)

Andy
  • #12
  • Mar 11, 2012 7:38pm Mar 11, 2012 7:38pm
Quoting fxtr51
Yes.
And what about engulfing candles ?
And Piercing Line and Dark Cloud Cover ?

I need some sleep now.
See you tomorrow.
I would go with the following:

Dojis
Pin Bar (defined as opening and closing in the bottom 25% of the bar's range in an uptrend, or opening and closing in the top 25% in a downtrend)

The PDF concentrates on pin bars as reversal bars, so I would stick with these and dojis

Andy
  • #13
  • Mar 12, 2012 1:36am Mar 12, 2012 1:36am
Quoting Andy B
How about an entry signal only after an exit signal? So multiple consecutive buy signals would not be generated, but a new buy signal would appear after the prior buy signal had been followed by an exit (close below the blue zone)

Andy
That is possible, but it is not the original Cobra system.

I just went back to the manual and found this:
Quote
The signal comes in two stages. The first part is when a candle closes outside of the blue
buffer zone in the trend direction. So if we are above the orange line, we wait for the price
to close outside and above of the blue buffer zone.

We then wait for confirmation in the form of another candle opening AND closing outside
and above the blue buffer zone.....

We then wait to see a second candle which opens AND closes above the blue zone (so
effectively the second candle is completely separate from the blue buffer zone), and that’s
our basic...
Candle 1 and Candle 2 together can only happen if Candle 1 opens on the other side of the outside blue zone.

If you look at the example in page 19 of the manual, you see a pullback
and when price comes out of the blue band again, a valid entry
is described.

Here is a screenshot with such entries according to the manual:

http://i.imgur.com/KocJW.jpg
  • #14
  • Mar 12, 2012 2:05am Mar 12, 2012 2:05am
Quoting mackaozy
I have attached a template and also a flow chart word document stating the conditions for entry. I'm after something that will alert and send an email when all conditions on the flow chart are met.

Cheers!
Because of the discussion with Andy B, I checked the entry conditions in the original manual and found more criteria for entries there than you have written in your flow chart.
Example: Second candle must form a new High/Low in trend direction.
Another example on page 24: The second candle can be the 3rd candle if the candle next
to Candle 1 does not meet the conditions.
This is a new aspect which I didnīt know. I thought the flow-chart had all the rules and coded accordingly.

I now have to change the logic.
  • #15
  • Mar 12, 2012 3:16am Mar 12, 2012 3:16am
Quoting fxtr51
That is possible, but it is not the original Cobra system.

I just went back to the manual and found this:
Candle 1 and Candle 2 together can only happen if Candle 1 opens on the other side of the outside blue zone.

If you look at the example in page 19 of the manual, you see a pullback
and when price comes out of the blue band again, a valid entry
is described.
Fair enough, my memory must have been playing tricks!

And well spotted on the other 2 conditions of entry, the flow chart is certainly over-simplified but it looks like you have this in hand

Andy
  • #16
  • Edited Mar 13, 2012 5:29am Mar 12, 2012 7:01am | Edited Mar 13, 2012 5:29am
Here is the latest version Cobra_V2

Modifications:

1. It is checking if ADX of current candle is higher than ADX of 2 candles ago
and ADX > 22 .

2. It is checking the 3rd Candle.
Sometimes Candle2 is not valid but the next candle is.
According to the manual that is a valid entry signal.
-----> if you see 2 arrows on subsequent candles, it means that Candle2 and Candle 3 meet conditions.

3. It is checking if Candle2 (or Candle3) form a new High or Low relative
to Candle 1.

4. It is checking Candle2 or Candle3 if they are Reversal Candles ----> no trade

If someone detects errors, please make screenshot and post it.

Only thing missing now is the check if it is Friday ----> no trades on Friday
but I will not include it.
Every trader should know what day of the week it is
and if he will trade signals on Friday or not.
Attached File(s)
File Type: ex4 Cobra_2.ex4   12 KB | 604 downloads
  • #17
  • Mar 12, 2012 8:48am Mar 12, 2012 8:48am
fxtr51,

Thank you for your work. I wonder if it is enough for the second (or third) candle to open and close outside the blue buffer zone, or maybe it should open and close outside the orange buffer zone as well. I am attaching a chart where the candle is completely outside the blue buffer but not outside the orange one - I believe we should not take such signals. In this particular case the candle is a pinbar - closing in the upper 25% for a downtrend, so the signal is not valid anyway.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy1hr.jpg Size: 127 KB
  • #18
  • Mar 12, 2012 10:12am Mar 12, 2012 10:12am
Quoting LazyPawn
fxtr51,

Thank you for your work. I wonder if it is enough for the second (or third) candle to open and close outside the blue buffer zone, or maybe it should open and close outside the orange buffer zone as well. I am attaching a chart where the candle is completely outside the blue buffer but not outside the orange one - I believe we should not take such signals. In this particular case the candle is a pinbar - closing in the upper 25% for a downtrend, so the signal is not valid anyway.
I have been reading the pdf file and on page 17 it explains to avoid trades in the blue and orange buffer zones.

Hope this helps.

Carol
  • #19
  • Mar 12, 2012 10:24pm Mar 12, 2012 10:24pm
Hey fxtr51 I think it would be great to code this into a grid like crodzilla did with the Extreme TMA approach - Multiple time frames with multiple pairs so that we can spot a potential trade.
  • #20
  • Mar 13, 2012 2:41am Mar 13, 2012 2:41am
Quoting Kendal
Hey fxtr51 I think it would be great to code this into a grid like crodzilla did with the Extreme TMA approach - Multiple time frames with multiple pairs so that we can spot a potential trade.
Very good idea, Kendal.
I never coded a grid like that and first have to search for teaching material and study how to do it. Will take time because I am trading and doing other things too, so I have to find and make the time for it.
Just tried to decompile the one from crodzilla to see how he coded it, but my old decompiler only gives an error, so it is impossible to copy and adapt or modify his source code.
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