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The gg53 "Killing Zone"

  • #821
  • Oct 29, 2012 6:07am Oct 29, 2012 6:07am
Ok, now we all master the entry signal.
We also master the art of identifying correlated currencies.

In the previous example we bought the GBPUSD and, by relying on USD & JPY correlation, we also bought the GBPJPY.

Now we are all happy with our "doubled" pips.

Really?
That's it?
Aren't you forgetting something?
That's the most you can do?

Try this:
Divide the GBPJPY rate by the GBPUSD rate at the point of entry.
Store the result.
Now look at the USDJPY rate at that point.
Compare it to the stored result.
Ahhhh ?!?!

By the division of the GBPJPY by GBPUSD - we eliminated the common DENOMINATOR - i.e the GBP.
and we are left with USD & JPY.

So by clearing the dust from second-grade math lessons we can conclude:
If you SELL the GBPUSD and SELL the GBPJPY - you can also SELL the USDJPY.

Instead of "doubling" our trade - we can "triple" it.

Thank you - dear Math teacher...

G.
  • #822
  • Oct 29, 2012 6:12am Oct 29, 2012 6:12am
Quoting Bomi
I feel as per the currencies chart even eur/aud is also in the same directions as eur/usd. I am not 100% sure. correct me if i am wrong.

Bomi
Bomi,

Correlation is defined by currency/currency comparison - not by pairs comparison.

G.
  • #823
  • Oct 29, 2012 6:13am Oct 29, 2012 6:13am
Good morning all,
First of all, since I am well asleep when London opens I can rarely spot any breakouts myself. I will take a closer look at today´s open later to check what went on. I just woke up and watched the first results of the Asian Breakout EA

I set one instance of the EA on each of the following pairs (TF = H1): eurusd, usdjpy, eurjpy, gbpusd and usdchf. All five triggered a trade within 2 minutes after 8:00 am CET. I´ll check if that was as per the rules. My settings for the EA are:

SL=200
TP=300
Trading hours: 8-14
SleepAfterTrades = 600 (this one is to allow only one trade per day. After the trade closes, it sleeps 10 hours and wakes up out of the trading hours)

MPTM settings:
BE + 1 at 10 pips profit
Jumping stop = 8
(truth is that these two features are also built in the Break out EA, so probably MPTM is not necessary here)

Well, my results this morning were 5 winners (1 per pair) for a total of 22 pips:
eurusd = 8
eurjpy = 3
gbpusd = 8
usdchf = 1
usdjpy = 2

Not as good as it could have been, yet not a bad start for a robot.

I have also set the EA on a 4-digit broker and it didn´t fire any trades due to an "invalid stop loss" error. Obviously there´s a bug in the 4-digit adjustment. Regarding the "invalid trade volume" error reported elsewhere, I have no idea why it happened with one pair and not with another. Sorry...
  • #824
  • Oct 29, 2012 6:53am Oct 29, 2012 6:53am
Quoting Middleastern
Good morning all,
First of all, since I am well asleep when London opens I can rarely spot any breakouts myself. I will take a closer look at today´s open later to check what went on. I just woke up and watched the first results of the Asian Breakout EA

I set one instance of the EA on each of the following pairs (TF = H1): eurusd, usdjpy, eurjpy, gbpusd and usdchf. All five triggered a trade within 2 minutes after 8:00 am CET. I´ll check if that was as per the rules. My settings for the EA are:

SL=200
TP=300
Trading hours: 8-14
SleepAfterTrades...
Middleastern,

I haven't tested the MPTM and didn't have a look at the code, but a few comments on the parameters:

1. I use BE+2xSpread+1. At 10 pips profit I think I deserve a bit more... and also if the spread widens for some reason - you could end up with a loosing trade. It will also make it close to the 8 pips trailing parameter.

2. why is the "Sleep" - as I understand it the MPTM is a trade management and not deciding on entry.

3. Trading hours - same as #2.

G.

EDIT:
4. SL - Should be PSAR or previous High/Low.
5. TP - x2 or x2.5 of SL.
  • #825
  • Oct 29, 2012 7:02am Oct 29, 2012 7:02am
Quoting gg53
Middleastern,

I haven't tested the MPTM and didn't have a look at the code, but a few comments on the parameters:

1. I use BE+2xSpread+1. At 10 pips profit I think I deserve a bit more... and also if the spread widens for some reason - you could end up with a loosing trade. It will also make it close to the 8 pips trailing parameter.

2. why is the "Sleep" - as I understand it the MPTM is a trade management and not deciding on entry.

3. Trading hours - same as #2.

G.

EDIT:
4. SL - Should be PSAR or previous High/Low.
5. TP - x2 or...

Middleastern,

Can you please re-run the EA with the suggested parameters and compare results?

thanks !

G.
  • #826
  • Oct 29, 2012 7:13am Oct 29, 2012 7:13am
Quoting gg53
Middleastern,

I haven't tested the MPTM and didn't have a look at the code, but a few comments on the parameters:

1. I use BE+2xSpread+1. At 10 pips profit I think I deserve a bit more... and also if the spread widens for some reason - you could end up with a loosing trade. It will also make it close to the 8 pips trailing parameter.

2. why is the "Sleep" - as I understand it the MPTM is a trade management and not deciding on entry.

3. Trading hours - same as #2.

G.

EDIT:
4. SL - Should be PSAR or previous High/Low.
5....
Hi G.,
The parameters were a shot in the dark, to tell the truth. Today I mainly wanted to check if the EA trades as it is supposed to. I´ll change the parameters according to your suggestions for tomorrow. Regarding your comments:

1. Yes, the SL is a bit tight and a spread widening would close the trade at a loss. I´ll expand the SL.
2. The sleepAfterTrades is built in the EA, not in MPTM. I use it to make sure it trades just once a day. If not, it will keep opening trades as long as Gadi_OBV is outside the Asian tunnel. Better safe than sorry.
3. Trading hours: I thought it should suffice for one trade a day.
4. I´m not sure I will know how to adapt the SL. Poor coding skills, sorry.
5. TP can be manually changed on the EA´s inputs.

I´ll check later today if the trades were opened according to the rules.

Thanks for the comments... Let´s see how it performs tomorrow.

M
  • #827
  • Oct 29, 2012 7:35am Oct 29, 2012 7:35am
Quoting Middleastern
Hi G.,
The parameters were a shot in the dark, to tell the truth. Today I mainly wanted to check if the EA trades as it is supposed to. I´ll change the parameters according to your suggestions for tomorrow. Regarding your comments:

1. Yes, the SL is a bit tight and a spread widening would close the trade at a loss. I´ll expand the SL.
2. The sleepAfterTrades is built in the EA, not in MPTM. I use it to make sure it trades just once a day. If not, it will keep opening trades as long as Gadi_OBV is outside the Asian tunnel. Better safe than sorry.
3....
Middleastern,

First - thanks for your effort !!

The Gadi_OBV breakout is not always one trade per day. Sometimes it's just updating the volume level after one trade.

I think that PSAR or previous high/low will be much tighter (just a few pips - less risk) and the resulting TP (x2 - x2.5) will get you to a more realistic outcome before the return to the TrailingStop.

you can check it in backtesting after setting the parameters according to PSAR on the chart.

G.
  • #828
  • Oct 29, 2012 7:58am Oct 29, 2012 7:58am
Quoting gg53
Middleastern,

First - thanks for your effort !!

The Gadi_OBV breakout is not always one trade per day. Sometimes it's just updating the volume level after one trade.

I think that PSAR or previous high/low will be much tighter (just a few pips - less risk) and the resulting TP (x2 - x2.5) will get you to a more realistic outcome before the return to the TrailingStop.

you can check it in backtesting after setting the parameters according to PSAR on the chart.

G.
Hi G.,
I am aware of the dynamic updating of the indicator tunnel boundaries as you explained in an earlier post. I devised the EA to take advantage of just some of the opportunities, as I lack the knowledge to go beyond the simple rule I managed to code. Basically, the EA would just harvest the first surge after the Asian session. This EA will never replace the manual trading of all the opportunities. It would hopefully just grab some pips while I sleep

Regarding backtesting, I did it before I posted the EA. For some reason, Strategy Tester does not follow some of the instructions, for example the sleepaftertrades sleeping time. Moreover, you cannot test two EAs at a time, so MPTM could not be brought into the testing.

Question: When you say the SL to be the previous High/Low, you mean the High/Low of the Asian session, of the previous bar, other...?

M.
  • #829
  • Oct 29, 2012 10:11am Oct 29, 2012 10:11am
Instead of using an arbitrary kill zone breakout of 20 pts, can the code be amended to trigger on a breakout by say 5% of the kill zone? I.e. if the KZ is 100 pts a breakout of 5 pts would trigger the trade. The % breakout can be user configurable and we can see at what level is most accurate.
  • #830
  • Oct 29, 2012 10:11am Oct 29, 2012 10:11am
Quoting Middleastern
Hi G.,
I am aware of the dynamic updating of the indicator tunnel boundaries as you explained in an earlier post. I devised the EA to take advantage of just some of the opportunities, as I lack the knowledge to go beyond the simple rule I managed to code. Basically, the EA would just harvest the first surge after the Asian session. This EA will never replace the manual trading of all the opportunities. It would hopefully just grab some pips while I sleep

Regarding backtesting, I did it before I posted the EA. For some reason, Strategy Tester...
Middleastern,

PSAR, and if not available the previous bar high/low.

G.
  • #831
  • Oct 29, 2012 10:54am Oct 29, 2012 10:54am
uote=panamamike;6141655]Instead of using an arbitrary kill zone breakout of 20 pts, can the code be amended to trigger on a breakout by say 5% of the kill zone? I.e. if the KZ is 100 pts a breakout of 5 pts would trigger the trade. The % breakout can be user configurable and we can see at what level is most accurate.[/quote]

panamamike,

I already requested that in my "horizontal lines" indicator requirements.
...no coders to do that...

In any case - 20 pips above/below is way too much.

G.
  • #832
  • Oct 29, 2012 11:00am Oct 29, 2012 11:00am
Quoting gg53
uote=panamamike;6141655]Instead of using an arbitrary kill zone breakout of 20 pts, can the code be amended to trigger on a breakout by say 5% of the kill zone? I.e. if the KZ is 100 pts a breakout of 5 pts would trigger the trade. The % breakout can be user configurable and we can see at what level is most accurate.
panamamike,

I already requested that in my "horizontal lines" indicator requirements.
...no coders to do that...

In any case - 20 pips above/below is way too much.

G.[/quote]

The "20" I added to the tunnel is not 20 pips, but 20 "Gadi_OBV units". I think Panamamike referred to a percentage of the "indicator tunnel", not the bars tunnel.
  • #833
  • Oct 29, 2012 11:05am Oct 29, 2012 11:05am
Quoting Middleastern
Good morning all,
First of all, since I am well asleep when London opens I can rarely spot any breakouts myself. I will take a closer look at today´s open later to check what went on. I just woke up and watched the first results of the Asian Breakout EA

I set one instance of the EA on each of the following pairs (TF = H1): eurusd, usdjpy, eurjpy, gbpusd and usdchf. All five triggered a trade within 2 minutes after 8:00 am CET. I´ll check if that was as per the rules. My settings for the EA are:

SL=200
TP=300
Trading hours: 8-14
SleepAfterTrades...
great results Middleastern!

i have now set up a new demo on finfx...appears to work.
same settings for the time, sl250 tp500, jumping stop 80. on the ea settings..translates into sl25pips tp50pips js8pips. no breakeven.
  • #834
  • Oct 29, 2012 11:12am Oct 29, 2012 11:12am
Quoting Middleastern
panamamike,

I already requested that in my "horizontal lines" indicator requirements.
...no coders to do that...

In any case - 20 pips above/below is way too much.

G.
The "20" I added to the tunnel is not 20 pips, but 20 "Gadi_OBV units". I think Panamamike referred to a percentage of the "indicator tunnel", not the bars tunnel.[/quote]

Middleastern,

How many pips was the "20 Gadi_OBV units" in this case?

G.
  • #835
  • Oct 29, 2012 11:21am Oct 29, 2012 11:21am
Quoting fxprotrader
great results Middleastern!

i have now set up a new demo on finfx...appears to work.
same settings for the time, sl250 tp500, jumping stop 80. on the ea settings..translates into sl25pips tp50pips js8pips. no breakeven.
fxprotrader,

5 winners is great. The MM requires major overhaul.
The risk/reward is terrible.

Manual trding, using the "triple" method, yielded more than 60 pips.
The EA should make at least 60%-70% of that.

G.
  • #836
  • Oct 29, 2012 12:57pm Oct 29, 2012 12:57pm
Correct.

Quoting Middleastern
panamamike,

I already requested that in my "horizontal lines" indicator requirements.
...no coders to do that...

In any case - 20 pips above/below is way too much.

G.
The "20" I added to the tunnel is not 20 pips, but 20 "Gadi_OBV units". I think Panamamike referred to a percentage of the "indicator tunnel", not the bars tunnel.[/quote]
  • #837
  • Oct 29, 2012 1:15pm Oct 29, 2012 1:15pm
Quoting gg53
Bomi,

What's your rational behind the EURAUD trade?

G.
gg - No that was my wrong judement..... sorry
  • #838
  • Oct 29, 2012 1:54pm Oct 29, 2012 1:54pm
Gadi_Currencies - Updated to v2.7.

Changed default TF to 0 - Current chart TF.
Updated Dynamic Levels - more sensitive.

Enjoy.

G.
Attached File(s)
File Type: ex4 Gadi_Currencies _v2.7.ex4   10 KB | 884 downloads
  • #839
  • Oct 29, 2012 2:43pm Oct 29, 2012 2:43pm
Hello all,
Version 1.1 of the EA seems to be working ok. I´ve added Panamamike´s request for a user-defined enlargement of the Gadi_OBV tunnel (a percentage of the tunnel width) as the threshold to trigger a trade. Default is 0 = no enlargement whatsoever. Remember that we´re talking about the indicator´s tunnel, not the price range of the Asian session. I was a bit reluctant to add this. I don´t really want to start tweaking things over before we haven´t even tested it, but it was easy to add so here it is.

There´s an option to use the last bar´s High/Low as the trade´s SL. Seems to be working ok, but if the previous bar High/Low is too close, the broker will not accept it until the price moves enough to allow the broker´s minimum SL.

There´s also an option to set the TP as a multiple of the SL. The entries are pretty straightforward, easy to understand (I think).

You can also set a fixed SL and TP as before. Your call.

M.
Attached File(s)
File Type: mq4 Gadi Asian Breakout v.1.1.mq4   29 KB | 625 downloads
  • #840
  • Edited 3:19pm Oct 29, 2012 3:09pm | Edited 3:19pm
Quoting Middleastern
Hello all,
Version 1.1 of the EA seems to be working ok. I´ve added Panamamike´s request for a user-defined enlargement of the Gadi_OBV tunnel (a percentage of the tunnel width) as the threshold to trigger a trade. Default is 0 = no enlargement whatsoever. Remember that we´re talking about the indicator´s tunnel, not the price range of the Asian session. I was a bit reluctant to add this. I don´t really want to start tweaking things over before we haven´t even tested it, but it was easy to add so here it is.

There´s an option to use the last bar´s...
Middleastern,

Good job !!
Thanks.

You can use "MarketInfo(Symbol(),MODE_STOPLEVEL)" to check if the SL is smaller than allowed and adjust to broker's minimum if the SL is smaller.

G.
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