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The HDR Breakout

  • #41
  • Edited 7:52am Jul 25, 2012 7:34am | Edited 7:52am
That's it for today. Well I'm keeping an eye on EURUSD of course :-) I'm also thinking of closing the trade as it's near breakeven, in order to avoid the erratic move often occuring until next London Open.

Well, don't forget that this system is only a 100% copy of the original system which is 100% right all the time and can achieve about 2000 pips more than the system explained here about every two months. The system here is losing 1000 pips every two months. Don't forget the comparison of both systems at the beginning of this thread. So you're warned from now on!
  • #42
  • Jul 25, 2012 11:36am Jul 25, 2012 11:36am
If your EURUSD trade is still open, you can now set the SL a few pips below the previous low at 1.21123. If price breaks below that level, the profit target will likely not be achieved.
  • #43
  • Jul 25, 2012 11:58am Jul 25, 2012 11:58am
EURCAD: 2xSL, 1xPT
GBPUSD: No signal
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: x.gif Size: 10 KB
  • #44
  • Edited 12:34pm Jul 25, 2012 12:18pm | Edited 12:34pm
Quoting jako2
EURCAD: 2xSL, 1xPT
GBPUSD: No signal
Hi jako2,

I don't know if the indicator is wrong or if it is due to your broker, but the second short entry didn't occure on my chart. The first one must be ignored, because it is before London open and the second one didn't appear on my chart. The down candle stopped slightly above the sell area. Well I think you could not really avoid the second trade as the candle closed in the sell area in your case :-( At least you will end at breakeven with the second trade.

The we have a long entry with a candle closing right on the line between the channel and the buy area. If you compute the profit target from that close, you would have closed the trade in profit, but if you had waited for the next candle, you would not be trading, because it closed above the buy area.

On GBPUSD, there was a channel before the one appearing on your chart that triggered a long entry and resulted in a successful trade. Don't enter any trade on GBPUSD until next London Open!

The picture showes the trade on GBPUSD today.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 114 KB
  • #45
  • Jul 25, 2012 12:31pm Jul 25, 2012 12:31pm
The indicator should show the old signals.
  • #46
  • Jul 25, 2012 12:53pm Jul 25, 2012 12:53pm
HDChanell
HDR
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  • #47
  • Jul 25, 2012 2:50pm Jul 25, 2012 2:50pm
Hi Ralome,

There is an error in your indicator. You're computing the high, low, open and close of an hourly candlestick on the 15M chart. But if the candlestick on the H1 chart chose the price from let's say 09:00 to 10:00, on the 15M chart you take the four candles between 09:15 and 10:15 and then from 09:30 to 10:30, but of course it doesn't match the candlestick on the hour chart.
  • #48
  • Jul 25, 2012 4:55pm Jul 25, 2012 4:55pm
Hi Dvarrin,
Always love a breakout strategy,
good luck.
  • #49
  • Jul 25, 2012 11:43pm Jul 25, 2012 11:43pm
Quoting coastie
Hi Dvarrin,
Always love a breakout strategy,
good luck.
Thank you coastie ;-)
  • #50
  • Jul 25, 2012 11:51pm Jul 25, 2012 11:51pm
Today we have not less than 13 currency pairs to follow. They are in a channel or close to it and the channel did not give it's potential, yet. I mean no trade closing in profit and originating from the channel has happened.

AUDUSD
CHFJPY
AUDJPY
AUDNZD
CADJPY
EURGBP
EURJPY
GBPJPY
GBPUSD
NZDJPY
USDCAD
USDCHF
USDJPY

And we will keep an eye on our trade on EURUSD.

For GBPJPY, if the candlestick closes in the sell area right when London session opens, we enter a short trade.
  • #51
  • Jul 26, 2012 12:36am Jul 26, 2012 12:36am
Don't forget that if a signal occured before London Open, price should first retrace back to the middle of the channel before we can enter on a new signal.
  • #52
  • Jul 26, 2012 12:55am Jul 26, 2012 12:55am
Quoting coastie
Hi Dvarrin,
Always love a breakout strategy,
good luck.
By the way, it's great what you've written in the other thread. Well he has always a sbire to defend him. It must be the thread whose members are all the lucky people in the world. When the trades are negative, fortunately they had no internet connection and could not open an order. And they have never experienced a false breakout. No! No guys, it doesn't exist. Hopefully one day they will understand that the "-" sign in front of an amount of pips has some kind of negative meaning.

He must have bet with somebody that he could open a thread and make it the most viewed one on forexfactory, that's why his only answer is to read the thread from the beginning. Among the almost 3000 posts in the thread, more than one fourth are about banning somebody or asking him to read the thread from the beginning. And now they main task, in a thread which hates indicators more than anything else, is to play with the parameters of an indicator to optimize the pip counter. Pfff
  • #53
  • Jul 26, 2012 1:04am Jul 26, 2012 1:04am
Quoting dvarrin
By the way, it's great what you've written in the other thread. Well he has always a sbire to defend him. It must be the thread whose members are all the lucky people in the world. When the trades are negative, fortunately they had no internet connection and could not open an order. And they have never experienced a false breakout. No! No guys, it doesn't exist. Hopefully one day they will understand that the "-" sign in front of an amount of pips has some kind of negative meaning.

He must have bet with somebody that he could open a thread...
A good indicator saves 90% of the time. A clear contradiction.
  • #54
  • Jul 26, 2012 1:24am Jul 26, 2012 1:24am
CHFJPY: I'm getting a close right on the line between the channel and the sell area. I'm taking it.

SL at 79.22
First profit target is 78.60

EURJPY: sell entry

SL at 95.14
First profit target is 94.42

No signal on GBPJPY: a new channel appeared.
  • #55
  • Jul 26, 2012 1:42am Jul 26, 2012 1:42am
Quoting dvarrin
If your EURUSD trade is still open, you can now set the SL a few pips below the previous low at 1.21123. If price breaks below that level, the profit target will likely not be achieved.
Perhaps it was not a good idea.
  • #56
  • Jul 26, 2012 2:02am Jul 26, 2012 2:02am
EURGBP: sell entry

SL at 0.7850
PT at 0.7810

For the two previous sell entry, I forgot to add the spread to the stoploss, so you'll have to add the spread to both the SL and the profit target. Sorry for that.
  • #57
  • Jul 26, 2012 2:19am Jul 26, 2012 2:19am
Quoting dvarrin
Hi Ralome,

There is an error in your indicator. You're computing the high, low, open and close of an hourly candlestick on the 15M chart. But if the candlestick on the H1 chart chose the price from let's say 09:00 to 10:00, on the 15M chart you take the four candles between 09:15 and 10:15 and then from 09:30 to 10:30, but of course it doesn't match the candlestick on the hour chart.
Dvarrin,

You're right, I used the base timeframe to compute the OHLC of the higher timeframe (in our example, 15M vs. H1). And to calculate that, I need of course 4 consecutive candles. So I have an "imaginary" pointer (while i is the real pointer, and it always refers to the first of the 16 candles needed for the calculation of the channel). Take a look at this:

Inserted Code
c1_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-period_multiplier+1)];
c2_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-2*period_multiplier+1)];
c3_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-3*period_multiplier+1)];
c4_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-4*period_multiplier+1)];
iHighest: last value = starting point, value before last = period, you know that. Let's say pointer i = 20. In that case, the last values become 20-4+1=17, 20-8+1=13, 20-12+1=9 and 20-16+1=5. So iHighest checks candles #20-17, #16-13, #12-9 and #8-5. So there's definitely no such thing that you mentioned that the first H1 candle would start at :15, then the second at :30.

However, it is possible that the channel may start at :15 or :30 or :45 instead of :00, because I do check every M15 candle, thus creating "fake" H1 candles. But that is why I made the strict_hours feature. In that case the channels will definitely start at :00.

I think you referred to the situation if you set both strict_hours and overlaps_disabled to false. In that case, the indy may display a channel starting at 09:15, and another one starting at 09:30. And yes, that looks real ugly :-) So actually either both should be set to true, or only one should be set to false. This is for everyone to decide.

Hopes this helps.
Even if you fall on your face, you're still moving forward.
  • #58
  • Jul 26, 2012 2:31am Jul 26, 2012 2:31am
Quoting dvarrin
By the way, it's great what you've written in the other thread. Well he has always a sbire to defend him. It must be the thread whose members are all the lucky people in the world. When the trades are negative, fortunately they had no internet connection and could not open an order. And they have never experienced a false breakout. No! No guys, it doesn't exist. Hopefully one day they will understand that the "-" sign in front of an amount of pips has some kind of negative meaning.

He must have bet with somebody that he could open a thread and...

I find it funny that he attacked you and when I stuck up for you he has banned me from the thread.
He can dish it out but cant take it back.
Cheers
  • #59
  • Jul 26, 2012 2:32am Jul 26, 2012 2:32am
Quoting Ralome
Dvarrin,

You're right, I used the base timeframe to compute the OHLC of the higher timeframe (in our example, 15M vs. H1). And to calculate that, I need of course 4 consecutive candles. So I have an "imaginary" pointer (while i is the real pointer, and it always refers to the first of the 16 candles needed for the calculation of the channel). Take a look at this:

Inserted Code
c1_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-period_multiplier+1)];
c2_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-2*period_multiplier+1)];
c3_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-3*period_multiplier+1)];
c4_high=High[iHighest(NULL,0,MODE_HIGH,period_multiplier,i-4*period_multiplier+1)];
iHighest:...
Yes, you're right. It's working fine now. I only had to change something in the list of conditions:

MathMax(c4_open,c4_close) < MathMax(c2_high, c3_high)) &&
MathMin(c4_open,c4_close) > MathMin(c2_low, c3_low))

replaced by

MathMax(c4_open,c4_close) < MathMin(c2_high, c3_high)) &&
MathMin(c4_open,c4_close) > MathMax(c2_low, c3_low))

because the body of the last candlestick must be included in the spread of both two previous candlestick.

Thank you very much Ralome! Your indicator is better because it showes the previous channels too :-))
  • #60
  • Edited 2:49am Jul 26, 2012 2:35am | Edited 2:49am
Quoting coastie
I find it funny that he attacked you and when I stuck up for you he has banned me from the thread.
He can dish it out but cant take it back.
Cheers
What? really? With only what you wrote he has already banned you? He is really a kid!

Sorry that you have been banned because of me.
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