Hi ForexHard,
I've read the thread a couple of times, and drawn boxes for weeks, and recently started using the indicator, and have come across a couple of problems with it.
The first problem is that if you set MinClosedBars to 0, you only get 1 or 2 alerts, then it goes silent.
The second problem I've found is that if you set quick takeprofit to be greater than stoploss, it will show some of the tp's at the value you've set, but the majority of the winners are equal to the stoploss, thereby skewing the results.
I use a larger TP in the indicator so that I can set my jumping stops in my trade manager to ensure a minimum r:r of 1:1. I never aim for a set TP with my trades, I just let price action take them as far into profit as possible, until it turns around and hits my SL.
I intend to use the TP lines as guides for jumping stops, (after locking in profit equal to SL), and when locked-in profit is >= 3*stoploss, I'll start scaling into the break-out, (I have a very small live account, and only trade 0.01 lots).
Thank you for such a wonderful system and thread, and the way you maintain it.
Regards,
Radar5k =8^)
P.S. I'd offer to assist with the beta testing, but lack the experience in both trading, and setting up EA's.
I've read the thread a couple of times, and drawn boxes for weeks, and recently started using the indicator, and have come across a couple of problems with it.
The first problem is that if you set MinClosedBars to 0, you only get 1 or 2 alerts, then it goes silent.
The second problem I've found is that if you set quick takeprofit to be greater than stoploss, it will show some of the tp's at the value you've set, but the majority of the winners are equal to the stoploss, thereby skewing the results.
I use a larger TP in the indicator so that I can set my jumping stops in my trade manager to ensure a minimum r:r of 1:1. I never aim for a set TP with my trades, I just let price action take them as far into profit as possible, until it turns around and hits my SL.
I intend to use the TP lines as guides for jumping stops, (after locking in profit equal to SL), and when locked-in profit is >= 3*stoploss, I'll start scaling into the break-out, (I have a very small live account, and only trade 0.01 lots).
Thank you for such a wonderful system and thread, and the way you maintain it.
Regards,
Radar5k =8^)
P.S. I'd offer to assist with the beta testing, but lack the experience in both trading, and setting up EA's.
).
