Extracted Thread (per thread starter's request)

Got 3 sailboat races today can't wait till I am done to check out the new toy
Thanks everyone for the hard work

I've posted twice in quick succession so I'm going to be careful not to "fill up" the board so to speak but I'm a little spooked about something I've just seen in the indicator looking back.

I've fiddled with the settings so that my SL is never more than 30 pips (two SL settings set to 30....is this my mistake?, have I incorrectly assumed changing both to 30 sets your stop loss to 30?) but I noticed that there is a sell signal that is clearly more than 30 pips away from the opposing CZ zone edge (around 42 pips).

I would think that the indicator would not show a signal if the potential SL was over what the user had set...again am I wrong here?

I know I've probably missed something so apologies in advance if that is the case...just double checking though. I'd rather get scolded for not knowing than not flagging a possible error.

http://img256.imageshack.us/img256/4698/errorjl.jpg (http://img256.imageshack.us/i/errorjl.jpg/)

Edit
-----

I think I've answered my own question in that the indicator does do as requested but it only shows when SL has been hit that the SL is moved up or down depending on the what has been set.... so in the above example SL is not at the edge but moved down.

An EA for this system would make it very interesting to backtest and forwardtest.

Many thanks to both of you Forexhard and Xux99! This tradeset concept is genius!

Bravo!

It's build 432 (31st May '12)...

..hmm, i'm getting 24 errors. I'm sure i'll get to the bottom of it from the advice of the bright tech sparks here

Sorry to hear that. But so far you're the only person experiencing any problems. Feel free to contact Xux99 by PM, or ask for help in the tech section. Let's keep the thread focused on the system.

From my long experience, I think the old file in your computer is corrupted or non-complete. It happens. Usualy I'll delete the old file from yesterday and re-download the .mq4 file. It can help.

my 2 cents
Moshe

Many thanks - now sorted. FXH, apologies for the distraction.

This indicator/tool is great. It's like being able to backtest at lightning speed. The more I play with it, the more disillusioned I am with this strategy and martingale's destructive power.

Has anyone found a decent configuration for any pair that's worth implementing for the last 730 days?

How about this? Notice that the markets are closed and the spread is widened, so let's wait for the opening hours.

Buffer pips 5
Quick take profit 15 not 39 (a bug?)

73% success on the first trade.

Thanks ForexHard

First of all, many brokers don't use a data stream that goes back that far in time. You can set the DaysBack to any number, but that's no guarantee you're seeing data that old. Most likely it will stop after 180 days or so, like mine does.

But even if it did, setting the DaysBack for 2.5 years does NOT make your trading more effective. There is a reason why the testers have only a 90% reliability at best, and probably a lot closer to 80% in real life. When there 10-20% worth of data missing how can you possibly put your faith in it? I know I can't.

100 days worth of data is plenty. It's a good round number that you can easily digest and mentally visualize, and it's also recent enough so that you can go back and double check it in just a couple of minutes. Use that recent data as a blue print for your trading plan.

And one last thing: The indicator is NOT THE SSBO SYSTEM. It's just one specific tool that we have at our disposal. If you are trying to use the indi before committing to the system itself, it probably won't make much sense to you. There are NO SHORTCUTS to learning your way around this system, least of all because of this indicator. You are all still advised to follow the directions given in the first post to the letter. If you are jumping to the end here because of Xux's indicator, there is a whole lot you are missing out on, and in the end you are only going to cause yourself a lot of personal grief, and harm to your trading account.

Pop up a chart with the settings, my backtest has come to a slightly different conclusion, and that was before using the new indicator.

Echoing what FXH has said throughout this thread....read the thread first...absorb it....keep reading until your brain is fuzzy! I've spent the whole weekend fiddling around with various settings and potential ways of using the indicator... I had settings where the win rate was in the high 80s/early 90s shooting for 10 pips but of course, the main issue with that is the fact that the risk reward is horrific....that said its interesting to play around and analyze. So far I've got my markets averaging 70%+ win rate....and around the 850 pip net gain mark. Admittedly that's with 150 days instead of 100 and we're meant to use 100 so as to be on the same page so to speak, but even still its all about the effort you put in away from the market that will determine your success! For those worried about the Martingale strategy....grab yourself an excel spreadsheet and go through the market with your indicator placing the trades and recording them as you would live....its a comforting experience to know that most markets never get past the third breakout (if you set your boxes correctly) and for people like myself A lot of reversals happen before for the Euro open and so you can pick up a trade knowing the odds are in your favor and that for example 50%+ of secondary breakouts have succeeded and 80% third breakouts have succeeded! (rough figures from memory based on GU I think but not concrete). I'd certainly love to see what others are thinking regarding martingale.....I'm a compounding trader so it would be a different style for me to adopt but with the efficiency of the system and sensible settings it is easily manageable. You could trade successfully without it, open up to more pairs and just trade signals individually using compounding.....is this effective? Well I'm sure members here would have their opinions on it but so long as your trading the system correctly, I'd imagine its ok.

Thanks, FXH!

Great work Forexhard and Xux99!!

Hi FxH!

Prior to this new indicator, you wrote this post (http://www.forexfactory.com/showthread.php?p=4963178#post4963178) where you outlined the steps in setting up your charts using Sq's indicator.

And I've used this methodology with great effect in my own trading. (Thanks very much, by the way!)

I hope you can write a similar step-by-step post soon on how you set up templates using the new indicator. I don't need YOUR personal template settings, of course, as I know (from re-reading this thread more than 5 times now) that different traders have different risk profiles.

(I'm on my 7th re-read and rewriting my notes so I haven't been keeping up with the latest posts for the past week thereabouts... so bear with me please! )

I would especially like to know if your "X CZs per week per TF" guide is still one of your acid tests.

FYI, in Sq's indicator, I've been operating with the setting AutoBoxRange = True.

In the new indicator, I still see references to AutoBoxRange and AutoBoxRangeDailyATRperiod in the mq4 code. Are these extraneous bits of code or are they actually still being referenced?

Don't mind me... I'd like to think I understood what went on in Sq's old indicator and similarly I'd like to know what's under the hood in this new one.

Thanks again FxH for a great set of breakout rules. And my compliments to Xux99.... after playing around with the new indic, I think I understand how it works. Can't wait to see it in action when market opens this week.

First a thank you for the new indi, the work involved must have been enormous.

I am not getting different size boxes on my implementation of the indi. All the boxes going back are the same size, whereas just by eyeballing I can see that many could be smaller. My auto reduce setting is on true.

I will be too busy to do much more checking of the stats for a while, next week hope to be back to my trading.

Larry

Larry, a pic is worth a thousand words -- hint, hint.

Everyone, bear in mind that when looking back (back testing) for CZ's with your requested parameters, the indi will curve-fit as it does so, and it will paint only those boxes which fit. It is very rare that the indi will find shorter boxes when looking back. It still can, just don't expect it to. If you set it to look for boxes 25p tall, then that is what it will find for you.

Looking forward is another matter entirely. It is much more likely that you will see the boxes shrink in size during live trading. (Always keep in mind, however, that once you have tweaked the settings after becoming extremely familiar with a pair that shrinkage will happen less often because you already have them set them so close.) But no matter what, you won't notice smaller boxes forming at the same rate you will see them grow longer; almost every CZ gets extra bars.

The tricky part with an indicator like this one, is that there is a constant 100-day data stream. Every 15 minutes new data is coming in the front, and old data is going out the back. And if older trades from 100 days ago are being deleted this way, then several factors of the display window will change because of it. The best thing to do is to leave it open and running for a couple of weeks at least, and that way you will have first-hand knowledge of those boxes and the trades that came from them. Leave it open for 100 days and it will be all "yours". But remember, should you change ANY of the settings during this time and re-save, then the indi will re-boot and all of those live boxes will go away, and what you will have are "found" boxes once again. Nothing wrong with found boxes, but ones made live are of course preferred. By the time you keep track of 30-40 CZ's made this way (live boxes, not historical) in your trading diary over 100 days all of your SSBO questions will be answered.

I love the new indi, great tool. It's been thoroughly interesting playing with it. But looks like some are treating it as gospel. Just because I get a 70% chance of a win at 24 pips on the EU for example, doesn't mean I have to set my TP for 24 pips. I'm trading these manually so no need, I can just be ready to exit at this level. Looking for signs of price stalling. Or possibly trailing the stop from here.

Like I said, great tool, I love it and thanks the the hard work that's gone in.

To me it's a great visual a guide, but I'm still trying to listen to the market. This tool is great way of judging the probability, but it can't predict the future.

Thanks again FXH