Sounds good. crodzilla may be willing to give some guidelines if you ask him, if he won't give the full source code.
- Joined Jan 2010 | Status: Member | 1,163 Posts
- Joined Jan 2010 | Status: Member | 1,163 Posts
- Joined Jan 2010 | Status: Member | 1,163 Posts
Thanks for the update. I've had mixed results with this taking the trades as they come up and using a TP/SL as the mid line of the short term trend bands. Anyone come up with a solid trading plan for this?
And as usual a trading system cannot be judged after 1 week.
Either it needs to be backtested for a few years or forward tested a few months.
I have seen setups on the historical charts on several pairs which have
a Risk/Reward of 1 : 5 and higher.
Such good moves with pullbacks into the blue bands but not closing
beyond give 2 or 3 additional valid setups where you can add to the
original position and such moves result in huge profits.
If the average win/loss ratio is only 50 %, such moves - and they happen - will guarantee good profits, no doubt about that.
Ok, maybe there are indicators or additional rules which will filter more bad trades and give more profitable entries, but finding them requires work
and experience.
Some find such additional profit enhancers and stay silent and you will never find it shared ....
others will share them .... let us hope for the second category.
It is the old story about "there is no free lunch" and such.
I have done my part and invested many hours coding the indicators.
A professional coder would have done it much much faster but none
appeared here and helped. Why should they ?
They earn money with coding and if a potential profitable strategy
is shared like this one, they silently code an indicator and EA and test it
and use it for themselves to make a living.
My 2 cents.
They earn money with coding and if a potential profitable strategy
is shared like this one, they silently code an indicator and EA and test it
and use it for themselves to make a living.
My 2 cents.
Great work, FXTR51 and I hope it will give you (and others too) the wished results.
By the way (please consider that I have no clue at all about coding and also I had not the time yet to check your indi live on the chart) I had another thought about the EA:
You made a very good indicator for the entry candles.
Would it be possible to make an EA which "just" look if the arrow appears and in this case automatically by the open of the next bar it opens a trade with a lot size calculated considering the distance of the price from the lower(or higher) blue band of the 3 and making that distance in pips for example 2% of the actual account balance ?
Of course then the close (also of all previous added trades, if any) as per TS should be as soon as a candle closes over the blue band (up or down, as per TS, you know what I mean)
At the beginning, to make things not too complicated, it could be without any trailing SL (or just to BE as soon as the gain in pips = SL pips from entry)
I would be interested in your opinion.
Thanks again a lot for the Indis and I will try to follow the forward testing as well (as much as my slave job
allows)
- Joined Jan 2010 | Status: Member | 1,163 Posts
Thanks to all who thanked me for the indicator and dashboard.
On first sight the Cobra System looks promising but I know from so many other good looking trading strategies which went into the recycle bin
after an EA was coded and backtests were run.
The same seems to be the case here.
I coded the Cobra_EA and here is a backtest on EURUSD H1 for 2011
on Alpari broker.
http://i.imgur.com/xW0vT.jpg
The EA has everything which is in the manual.
1. ADX Filter
2. MA-bands Filter
3. Exit on closed candle on other side of blue bands
4. Move SL every 10 Pips in profit until SL = OpenPrice of trade.
5. no trades on Friday
Please post your backtests on different pairs so we can see if the results are as bad as on EU.
On first sight the Cobra System looks promising but I know from so many other good looking trading strategies which went into the recycle bin
after an EA was coded and backtests were run.
The same seems to be the case here.
I coded the Cobra_EA and here is a backtest on EURUSD H1 for 2011
on Alpari broker.
http://i.imgur.com/xW0vT.jpg
The EA has everything which is in the manual.
1. ADX Filter
2. MA-bands Filter
3. Exit on closed candle on other side of blue bands
4. Move SL every 10 Pips in profit until SL = OpenPrice of trade.
5. no trades on Friday
Please post your backtests on different pairs so we can see if the results are as bad as on EU.
- | Joined Sep 2011 | Status: Member | 22 Posts
Thanks to all who thanked me for the indicator and dashboard.
On first sight the Cobra System looks promising but I know from so many other good looking trading strategies which went into the recycle bin
after an EA was coded and backtests were run.
The same seems to be the case here.
I coded the Cobra_EA and here is a backtest on EURUSD H1 for 2011
on Alpari broker.
http://i.imgur.com/xW0vT.jpg
The EA has everything which is in the manual.
1. ADX Filter
2. MA-bands Filter
3. Exit on closed candle on other side of blue bands
4....
But now, may I share a few things that I`ve been realizing about this system and may be they`ll be good for the EA.
1) ADX >= 22 on the 1st signal candle (the one which opens in the MA buffer and closes out out of it) and ADX on 2nd signal candle > ADX on 1st signal candle. (was I clear here? if not, please let me know!)
2) Getting out of the trade: I like to do the following to get out of most of my trades:
TP1 = size of that`s trade SL
TP2 = TP1 + size of that`s trade SL
TP3 = TP2 + size of that`s trade SL
etc...
What I do is: When price hits TP1, I change my SL to BE.
when price hits TP2, I change my SL to TP1
when price hits TP3, I change my SL to TP2
and so on, until I get stoped.
It`s a regular way of tralling I guess, just a little differente from the trailling MT4 already offers us.
Also, some of my strategies involve closing HALF of the trade when I hit TP1.
I didn`t try this methods yet on Cobra System, but the may help.