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The gg53 "Killing Zone"

  • #1,761
  • Apr 26, 2013 4:31am Apr 26, 2013 4:31am
Quoting imaxi
{quote} The EA has no rules for consolidation yet. It only takes the breakout from the channel. I wanted everyone, using the EA, to verify that this is done correctly and, they where satisfied.. But know one (maybe a few) said anything. As for the stop loss setting.. again, its work in progress.. It uses the the high/low of previous bar, added with the spread and stop loss in pips.
There does need to be a minimum SL over ride added.

FWIW, the demos I have running with an extended buffer are far outperforming the ones OOTB. Thus, I think the consecutive tick idea that GG put forth has a lot of merit. Now, it has outperformed on a down week, by avoiding trades that popped and faded. But, the downside was also due in part to trades later on triggering on the opposite side of the Asian session CS, which were not preceded by any consolidation, having failed. Now, once a trade has run its course, unless there is a hard reversal within two bars, I am closing down the EA.

In addition, the 15min in both instances is kicking the crap out of the 1hr.
  • #1,762
  • Edited 6:17am Apr 26, 2013 4:38am | Edited 6:17am
Quoting providan
Hello GG53 as you can see i`m a newbee with some knowledge in indicators and ae`s. i put all the indicators as required but the gad currencies is blank, even that i changed the relevent pair to true. what i did wrong? thanks
providan,

It's usually because your broker is using some suffix in the pairs name (like EURUSDm or EURUSD.).
Just add the correct suffix ("m" or ".") in the indicator suffix parameter.

G.

Edit:
Oooops, I just saw that imaxi already answered your question.
  • #1,763
  • Apr 26, 2013 4:44am Apr 26, 2013 4:44am
For those who want to know what's coming in the next release....

 

  1. Magic Number.
  2. Check for Suffix.
  3. Tick count before channel breakout.. mentioned by gg53.
  4. Lot size calculations based on Kelly criterion.. Dynamic trade history checking or manual override or let me calculate my own lot size. More information can be found here: (http://en.wikipedia.org/wiki/Kelly_criterion) if no has objections to this? Its in!
  5. Consolidation rule.
  6. StopLoss recalculation if previous High/Low is was to small.
  7. Option to retake trade Long/Short if volume dives back into channel.. This is risky.. But nice to have.

  • #1,764
  • Apr 26, 2013 4:56am Apr 26, 2013 4:56am
Quoting imaxi
{quote} The EA has no rules for consolidation yet. It only takes the breakout from the channel. I wanted everyone, using the EA, to verify that this is done correctly and, they where satisfied.. But know one (maybe a few) said anything. As for the stop loss setting.. again, its work in progress.. It uses the the high/low of previous bar, added with the spread and stop loss in pips.
imaxi,

I understand and appreciate your hard work.
It wasn't critisism - just observations in order to help.

I think that the main issue here is to obey the consolidation rule - otherwise the whole idea loses its logic.
"Asian session" is NOT always a consolidation area - and somrtimes the consolidation is "broken" by a clear trend - and we shouldn't trade false breakouts while we are clearly in a trend.

I think that the way to go is to attend to the LOGIC first - than, and only than, "tweak" and optimize the parameters (SL, TP, TS, etc.).

imaxi - good job so far !! we are heading in the right direction thanks to you.

G.
  • #1,765
  • Apr 26, 2013 5:04am Apr 26, 2013 5:04am
Quoting gg53
{quote} imaxi, I understand and appreciate your hard work. It wasn't critisism - just observations in order to help. I think that the main issue here is to obey the consolidation rule - otherwise the whole idea loses its logic. "Asian session" is NOT always a consolidation area - and somrtimes the consolidation is "broken" by a clear trend - and we shouldn't trade false breakouts while we are clearly in a trend. I think that the way to go is to attend to the LOGIC first - than, and only than, "tweak" and optimize the parameters (SL, TP, TS,...
I'm not offended in anyway, please. observations and advice is very healthy for the greater good. I understand what you are saying and, the system has to obey the rules.. I'm just a happy trigger programmer with a trigger keyboard...
  • #1,766
  • Apr 26, 2013 5:22am Apr 26, 2013 5:22am
Quoting gg53
{quote} imaxi, I understand and appreciate your hard work. It wasn't critisism - just observations in order to help. I think that the main issue here is to obey the consolidation rule - otherwise the whole idea loses its logic. "Asian session" is NOT always a consolidation area - and somrtimes the consolidation is "broken" by a clear trend - and we shouldn't trade false breakouts while we are clearly in a trend. I think that the way to go is to attend to the LOGIC first - than, and only than, "tweak" and optimize the parameters (SL, TP, TS,...
I have the same thoughts as to consolidation. What I started doing tonight is judge each chart in the hour leading up to the open. If there is no consolidation, take the EA off. Can always put it back on later in the day. For instance, I disabled all JPY pairs initially due to the breakout from JPY news earlier in the session. No losing trades on 15 min charts.

The difficult part will be defining consolidation within the parameters of the indicator. What becomes the threshold?
  • #1,767
  • Apr 26, 2013 5:28am Apr 26, 2013 5:28am
Quoting panamamike
{quote} I have the same thoughts as to consolidation. What I started doing tonight is judge each chart in the hour leading up to the open. If there is no consolidation, take the EA off. Can always put it back on later in the day. For instance, I disabled all JPY pairs initially due to the breakout from JPY news earlier in the session. No losing trades on 15 min charts. The difficult part will be defining consolidation within the parameters of the indicator. What becomes the threshold?
I think gg53 has the answer.. And if I'm right then I've been sitting on it for weeks...
  • #1,768
  • Apr 26, 2013 5:29am Apr 26, 2013 5:29am
Care to share your thoughts?
  • #1,769
  • Apr 26, 2013 5:30am Apr 26, 2013 5:30am
Quoting panamamike
{quote} I have the same thoughts as to consolidation. What I started doing tonight is judge each chart in the hour leading up to the open. If there is no consolidation, take the EA off. Can always put it back on later in the day. For instance, I disabled all JPY pairs initially due to the breakout from JPY news earlier in the session. No losing trades on 15 min charts. The difficult part will be defining consolidation within the parameters of the indicator. What becomes the threshold?
Probably we should go back to the definition of the "Killing Zone":

http://www.forexfactory.com/showthread.php?p=5976398#post5976398

After a big move there is almost always consolidation. I remember in one post gg defined as a big move the body of the candle should be 3x bigger than the average of the previous 3 candles (gg correct me if I am wrong).
  • #1,770
  • Apr 26, 2013 5:30am Apr 26, 2013 5:30am
Quoting panamamike
Care to share your thoughts?
Sorry Its Highly classified.... you understand.
  • #1,771
  • Apr 26, 2013 5:33am Apr 26, 2013 5:33am
Quoting FusionF
{quote} Probably we should go back to the definition of the "Killing Zone": http://www.forexfactory.com/showthread.php?p=5976398#post5976398 After a big move there is almost always consolidation. I remember in one post gg defined as a big move the body of the candle should be 3x bigger than the average of the previous 3 candles (gg correct me if I am wrong).
Thanks for pointing the direction.. I've been looking for that.
  • #1,772
  • Apr 26, 2013 5:33am Apr 26, 2013 5:33am
I am going to set up a demo with an idea for TS for next week. I think a wider initial trail, or one that kicks in later is required. Then tighten the trail in stages. For instance, trail at 50 % at X level. If it reaches Y level tighten to 75%.
  • #1,773
  • Apr 26, 2013 5:35am Apr 26, 2013 5:35am
Quoting imaxi
{quote} Thanks for pointing the direction.. I've been looking for that.
That is exactly my thought for resetting a new zone after the Asian session. Also can be used to avoid non consolidation in the Asian session. A great example of that is the GBP move yesterday. we can also look at no trading in any pairs that have major news during the session as well.
  • #1,774
  • Apr 26, 2013 5:36am Apr 26, 2013 5:36am
Quoting panamamike
I am going to set up a demo with an idea for TS for next week. I think a wider initial trail, or one that kicks in later is required. Then tighten the trail in stages. For instance, trail at 50 % at X level. If it reaches Y level tighten to 75%.
I'm going to have to keep track of these good ideas..
  • #1,775
  • Apr 26, 2013 5:53am Apr 26, 2013 5:53am
Todays results on the 15 min charts I have set up. slightly different configs.
  • #1,776
  • Apr 26, 2013 5:54am Apr 26, 2013 5:54am
set up 1
Attached Image (click to enlarge)
Click to Enlarge Name: 042613.png Size: 84 KB
  • #1,777
  • Apr 26, 2013 5:55am Apr 26, 2013 5:55am
set up 2
Attached Image (click to enlarge)
Click to Enlarge Name: 042613.png Size: 86 KB
  • #1,778
  • Apr 26, 2013 5:56am Apr 26, 2013 5:56am
Quoting panamamike
set up 1 {image}
Smoking hot!!! What's the secret source?
  • #1,779
  • Apr 26, 2013 6:03am Apr 26, 2013 6:03am
Honestly I think I can blow these results out of the water.

I am using it right now as a semi auto EA. do not trade pairs with major news release. Only place EA on pairs that are in consolidation prior to European open. If the SL or TP is too small by the Ea, I manually adjust it.

I could have traded many more crosses that would have turned a profit. Also, I think my thoughts as per the trailing stop will also enhance PnL. Regardless, it is a small sample size. More time is required to prove some of my hypotheses.
  • #1,780
  • Edited 6:46am Apr 26, 2013 6:31am | Edited 6:46am
Quoting panamamike
I am going to set up a demo with an idea for TS for next week. I think a wider initial trail, or one that kicks in later is required. Then tighten the trail in stages. For instance, trail at 50 % at X level. If it reaches Y level tighten to 75%.
panamamike,

The TrailigStop (OOTB) is "killing" us on the EA current version (1.4).
It stops a winning trades much too soon with very little profit - not enough to cover full loses.
This was my immediate observation after testing - but I think that obeying the consolidation rules & logic should come first.

As to the TS itself - it should be aimed to protect yor profit with a bit better than 1:1 ratio. 1.1:1 is also Ok.
For example - if your SL is 10 pips and you are aiming at 20 pips profit - your TS should be around 11 pips.
This way you will have an "edge" over losing trades.
Moving the SL according to trade direction will also help.

But all those "tweakings" should come after the logic is correct.
Don't worry about profitable EA right now - make it work according to consolidation logic and everything else will fall in place after "tweaking".

Good job, dudes !!

G.
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