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Open/Close Crossover Method

  • #121
  • Jun 11, 2006 11:04pm Jun 11, 2006 11:04pm
Quoting richx7
Here is a modified version that adds MA widener to change the difference between MAs. It is set for GBP US 10 min charts and is doing very good. Trading should be between 5am-11am normally NY Time. The trailing stop needs work yet because twoblink has a better one that will stay in the trade longer - that will come later. It is a big improvement over my previous post.

I have included my new TS based on the linear weighted MA that works best in 10 or 15 min charts. It is showing 200-300 pips profit in GBP, CHF and EUR US. It uses the same stops, limits and timer as my other systems.
hello rich,

i have set-up your modified trading system. If the cross line being broken, what is the minimum firm profits to take? is it like fib +55, +89 too? or 20-30 pips will do?

TIA
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  • #122
  • Jun 12, 2006 12:21am Jun 12, 2006 12:21am

Quote
i have set-up your modified trading system. If the cross line being broken, what is the minimum firm profits to take? is it like fib +55, +89 too? or 20-30 pips will do?
There are many ways to trade including adding fib lines, using a limit of 20-30, or long term with 15min charts that may last all week. I have LWMA GBP 15min set to 72 now which is like trading 1 hr charts and keeps you out of the choppy trading like Friday (you could only trade well then with 1-5min charts manually). The WMACrossDeluxe2.zip in post #111 is similar in results and adds an MA trailing stop and a timer for 30 min charts. It is best to stay out of trading when the MA chart line is flat because of choppy range trading which gives losses usually. Twoblink has a different strategy and uses 4hr charts now and trades manually live with stops and alerts. Each person has a style and timeframe that he likes which depends on schedules and patience.

  • #123
  • Jun 12, 2006 3:41am Jun 12, 2006 3:41am
Quoting richx7

There are many ways to trade including adding fib lines, using a limit of 20-30, or long term with 15min charts that may last all week. I have LWMA GBP 15min set to 72 now which is like trading 1 hr charts and keeps you out of the choppy trading like Friday (you could only trade well then with 1-5min charts manually). The WMACrossDeluxe2.zip in post #111 is similar in results and adds an MA trailing stop and a timer for 30 min charts. It is best to stay out of trading when the MA chart line is flat because of choppy range trading which gives losses usually. Twoblink has a different strategy and uses 4hr charts now and trades manually live with stops and alerts. Each person has a style and timeframe that he likes which depends on schedules and patience.

is the 72 LWMA suitable for other pairs too? I will try that on meta4... How do i know that the price has broken the LWMA 72? Is it by 1 full candle 15min or 3 full candles? give me the simple answer. Thanks
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  • #124
  • Jun 12, 2006 4:06am Jun 12, 2006 4:06am
Quote
is the 72 LWMA suitable for other pairs too? I will try that on meta4... How do i know that the price has broken the LWMA 72
LWMA 72 is for long term trading and as long as the slope is negative it is selling. For MT4 here is a screen with LWMA 22 15 min and triggerlines plus trend manager pointing up. When trigger is red and below the blue MA sell - when its blue and above blue MA buy. Screens are limited to 500x550 so pix are small. I can provide a bigger screen in a zip. It is like an MA cross but is better.
Attached Image
  • #125
  • Jun 12, 2006 5:10am Jun 12, 2006 5:10am
So, I started to trade 19 pairs!!

A few things that were unexpected:

First, some of the pairs had a 9~10 pip spread!! I originally thought a -13pip stop would be enough, but with a 9 pip spread, that only gave you a 4 pip fitting room, which wasn't enough, so I moved everything back to the -21 pip initial absolute stop.

The first one's made money, signal on the first bar of 6/12 wich was the EUR/GBP. 2 more signals came up on the 3rd bars, GBP/JPY, and NZD/USD (I know, I know, talk about your not so often traded pairs!) But aside from testing the OCC, I always wanted to test if this was a realitistic thing for me to do as a dayjob, trading the 4H charts. I went about my own business and only took a look whenever I was at home. I had lunch with my wife, and then met up with a few friends after lunch. So just a typical day.

I will probably post the results of the week's worth of trading at the end of the week.

One of the "problems" I am seeing however, is that the entry signal shows up and disappears as the price fluxes up and down.. So you might enter, and then the signal disappears.. What to do about it? I don't know.. Suck it up I guess..

Another thing was; I entered 3 orders of 1 lot each. The reason? Because while all the stops will be the same for all of them, the limits exits aren't. And since VT doesn't allow me to put in 3 different limits for a group lot buy, I had to do it this way. It wasn't as bad as I thought. Click, with the mouse, hit Enter with the other hand, you can place all 3 orders in less than 5 seconds..

I have the limit stops based on +55 pips and +89 pips. Keep in mind though, with pip spreads of up to 9 or 10 pips on some of the more "exotic" pairs, that means it actually has to move something like +65 pips from entry point before it will close out automatically.

I don't actually plan on trading this many pairs, but it seems a good exercise, to "wring out" any problems in OCC.
google:
  • #126
  • Jun 12, 2006 5:55am Jun 12, 2006 5:55am
Quoting richx7
LWMA 72 is for long term trading and as long as the slope is negative it is selling. For MT4 here is a screen with LWMA 22 15 min and triggerlines plus trend manager pointing up. When trigger is red and below the blue MA sell - when its blue and above blue MA buy. Screens are limited to 500x550 so pix are small. I can provide a bigger screen in a zip. It is like an MA cross but is better.
Can i have the triggerline and trend manager if you dont mind?
kindly provide setting as well.

TIA
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  • #127
  • Jun 12, 2006 6:03am Jun 12, 2006 6:03am
Hey TB,

I can't wait to get the MT4 EA to try it out, thanks for doing that for us.

One question, from your last post, I am assuming that you don't wait for the close of the bar to enter the trade, you enter as soon as the cross occurs, is that right?

I wait until the bar closes and enter on the open of the new bar. While I do miss out on some of the move, and in some cases most or all of it, I have found through my own manual back testing that this is easier for me, and I have more confirmation of the trade. Just my thoughts on the subject anyway!!

I have been watching your thread everyday to see what's going on, I think this method really has promise, so I am very thankful you decided to post it here for all of us to try. I was a die hard intra day trader, I didn't think I could trade on a longer time frame than 15 mins!! (I am simply too impatient!) But after reading your method, I am changing the way I look at things!

Thanks again,
Katie
  • #128
  • Jun 12, 2006 9:21am Jun 12, 2006 9:21am
So far, I should have made money, but didn't because of some confusing mistakes with big spreads.. (ug).

If I wait for the close of the bar, it might be FAR away in the 4H chart world.. But I "might" have to.. It seems that the appearance and disappearance of the signal is annoying and not so accurate.

Speaking of MT4, my first crack at the modifications.. Probably filled with bugs.. Oh well.

So attached is the mq4 file... It doesn't quite match what I see on VT, so someone's wrong... But take a shot at it!!
Attached File(s)
File Type: mq4 OCCv3.mq4   4 KB | 676 downloads
google:
  • #129
  • Jun 12, 2006 9:53am Jun 12, 2006 9:53am
Thanks TB, I will download it right now and check it out.

I hope someone else knows if there are any bugs in it, since I don't even know how to write an indicator or EA, if there are any, I won't have a clue!!! I really must learn how to do it one day. Won't have to rely on anyone else doing it for me then will I.

But, let's have a look shall we.

Katie
  • #130
  • Jun 12, 2006 1:50pm Jun 12, 2006 1:50pm
Well Golden Girl, I guess you can be my white mouse :

Go ahead and pull up 55EMA_Close and 56EMA_Open to visually confirm..
google:
  • #131
  • Jun 12, 2006 1:52pm Jun 12, 2006 1:52pm
D@mn it!! It's 2:50am again..

Sleep, where forth art thou?? My liver pretty much hates me and won't talk to me anymore.....
google:
  • #132
  • Jun 12, 2006 2:58pm Jun 12, 2006 2:58pm
Hi TB

I have tested OCC over the last year and a half(from 1.1.2005).Your standard parameters with 13 pips stop loss.I backtested it visualy but exactly like it would be auto traded,no manual interventions.(I personaly think that entrys could be pinpoint better,so that you'll be stoped out less time,but that is another matter,i am still working on that).
What i noticed is that the first take profit(+55) is only reached 5 times.I am talking about the scenario when the 55 is reached,you move your stop loss to brake even point and the market turns,reaches the stop loss and leave you with 55 pips profit.
Only 5 times in a year and a half!So what i was thinking is that you could let more of your units run to higher (89) pip level,but you still have the stop loss at brake even.I didn't calculate it but it seems logical that letting 2 units to 89 is more profitable,or one to 89 and two leave for the long run when it happens.Those are the trade to count on making real profit for you and in the 1.5 year that i have tested they happened much more often then the first one(TP at 55).

What do you think?

Sebastian
  • #133
  • Jun 12, 2006 3:57pm Jun 12, 2006 3:57pm
I backtested MT4 OCC with standard settings and there are no results. Today is a bad day for trading with no major trends so far. Here is info I found interesting:
Quote
I trade with Oanda, and often they widen their spread on UK reports, many times as high as 10 pips.
IBFX also does this.
  • #134
  • Jun 12, 2006 4:15pm Jun 12, 2006 4:15pm
OCC v3 is an indicator not an EA. It looks good on the 4hr chart and shows up as red and blue arrows. I like triggerlines which gives good buy sell signals in all timeframes. Today's trading was very flat.
Attached Image
  • #135
  • Jun 12, 2006 6:58pm Jun 12, 2006 6:58pm
I have revised OCC v3 and added auto trading with Al's trailing stop and a correct profit display. When the stop kicks in the profit line goes flat. It is set for 30min GBP US and shows + 730 pips with no losses since may 25. It looks good but needs live trading testing yet and may need modifying.
Attached File(s)
File Type: zip OCC v31.zip   3 KB | 636 downloads
  • #136
  • Jun 12, 2006 8:07pm Jun 12, 2006 8:07pm
I had missed an entry to the GBP/CHF, but other than that, the system is making money on the 4H chart trading demo forward testing.

So it's quite doable..
google:
  • #137
  • Jun 12, 2006 8:08pm Jun 12, 2006 8:08pm
The 55pip level was only reached 5 times in a year and a half?? ARE YOU SURE?? What pair? Because on mine, it doesn't look that way!
google:
  • #138
  • Jun 12, 2006 10:18pm Jun 12, 2006 10:18pm
twoblink, I have been following this thread very closely, and I really appreciate everything you have contributed. do you use any other indicators like MACD, or STOCH, or RSI, Bollingers, Pivot Points, Fibonacci retracements/projections...just to name a few?

Bernadette
  • #139
  • Jun 12, 2006 11:03pm Jun 12, 2006 11:03pm
twoblink, thank you for sharing your system. It is very simple and effective. I am using MT4 and therefore it is very easy to follow up your system manually as well. Only problem I have is ATR Trailing Stop Indicator. I googled the net, but I couldn't find modified ATR Trailing Stop indicator written for MT4. I'll appreciate if you can write the code for this indicator in mq4 so that many FF users can benefit (OR if anyone has Modified ATR Trailing Stop indicator, can you please send it)

Thanks again for all your wonderful and valuable contributions.
  • #140
  • Jun 13, 2006 12:50am Jun 13, 2006 12:50am
Quoting twoblink
Well Golden Girl, I guess you can be my white mouse :

Go ahead and pull up 55EMA_Close and 56EMA_Open to visually confirm..
That's fine TB, I'm quite happy to be your test subject! I have put it on my charts with the EMA's and it's looking quite accurate to me. The indicators are showing up where the crosses happen.

I must say, this system looks to be working really well to me. I am gonna start demo trading it shortly on 4 pairs, maybe 5, we will see, but firstly will be the Cable, Swiss, Euro and Yen, I will also be looking at the Canadian and the maybe the Aussie. I am just waiting for the next signal to present itself, and we will be off and running.

Have a great day everyone.
Katie
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