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Firebird EA, please test this one, it is one of the greats

  • #281
  • Jun 24, 2006 4:16pm Jun 24, 2006 4:16pm
ns,

This is going to be somewhat subjective because you have to decide what ADX level you'll designate as the start of a trend. I think most people who use ADX consider readings of above 25-30 or so to be trending markets. But you have to also consider +DI and -DI. Start with the default setting of 14.

Typically, you would go long when +DI is above -DI and either:

  1. ADX rises while +DI and ADX are above -DI; or
  2. ADX turns up from below +DI and -DI.

And go short when -DI is above +DI and either:

 

  1. ADX rises while -DI and ADX are above +DI; or
  2. ADX turns up from below +DI and -DI.

Now, a declining ADX shows that the market is losing direction. When ADX falls below both +DI and -DI it signals a lifeless market.

And so what you would want to do is avoid the areas that potentially signal a trend. Seems like quite a bit of code writing.

What do you think of my earlier idea of simply creating another, wider envelope around the trading envelope -- kind of a "no-trade zone" where all trading stops. Trading could begin again once a trade is triggered in the opposite direction. The thinking there being that if we moved far enough in the opposite direction to breach the other side of the trading envelope the trend as probably ended.

Quoting ns_karthik
ok guys....i am planning to plug in a adx filter and see what happens....can someone tell me what settings are the best so far (currency pair, settings and chart time period) so that i can plug inb the adx filter, put in the best settings and see what happens......
  • #282
  • Jun 24, 2006 11:01pm Jun 24, 2006 11:01pm
hey thanks ben...i was able to open this one...will go thru and let u know...thanks again....
Quoting BenQ
NS Karthic,
Can you open this one?
  • #283
  • Jun 24, 2006 11:01pm Jun 24, 2006 11:01pm
Quoting BenQ
Hendrick,
Can you please post your latest version of EDEA and instructions on how to use it? Is it an indicator, or does it somehow get plugged into Firebird? Is it referencing platform time or my computer time. I'm running platforms that are GMT and GMT +2 but I'm in EST, which is I believe GMT -4. All a bit confusing. Thx.
You will find all of it in #255
  • #284
  • Jun 24, 2006 11:06pm Jun 24, 2006 11:06pm
hmmmm...actually, i was just thinking of going ahead with the adx values...like, take no trades if adx level is say 25....this way we could eliminate lot of the wrong trades if not all...probably we could start off with just the adx level and then improvise it with the other levels to make it still better....

i still have not got the settings which work best with this....
Quoting BenQ
ns,

This is going to be somewhat subjective because you have to decide what ADX level you'll designate as the start of a trend. I think most people who use ADX consider readings of above 25-30 or so to be trending markets. But you have to also consider +DI and -DI. Start with the default setting of 14.

Typically, you would go long when +DI is above -DI and either:

  1. ADX rises while +DI and ADX are above -DI; or
  2. ADX turns up from below +DI and -DI.

And go short when -DI is above +DI and either:

 

  1. ADX rises while -DI and ADX are above +DI; or
  2. ADX turns up from below +DI and -DI.

Now, a declining ADX shows that the market is losing direction. When ADX falls below both +DI and -DI it signals a lifeless market.

And so what you would want to do is avoid the areas that potentially signal a trend. Seems like quite a bit of code writing.

What do you think of my earlier idea of simply creating another, wider envelope around the trading envelope -- kind of a "no-trade zone" where all trading stops. Trading could begin again once a trade is triggered in the opposite direction. The thinking there being that if we moved far enough in the opposite direction to breach the other side of the trading envelope the trend as probably ended.

  • #285
  • Jun 25, 2006 5:25am Jun 25, 2006 5:25am
Quoting Hendrick
You will find all of it in #255
Hendrick, what happens to positions that are already open when you enter one of your pre-set "no trade" times? Is it closed out or just left to run?
  • #286
  • Jun 25, 2006 7:09am Jun 25, 2006 7:09am
Quoting BenQ
Hendrick, what happens to positions that are already open when you enter one of your pre-set "no trade" times? Is it closed out or just left to run?
Hi Ben,

EDEA is doing no more and no less than triggering the " Expert Advisors" button in MT4. So open trades are left to run.

(Have been studying the code of Firebird now for 2 days non-stop. Gives me a real headache. Made a quick indicator (FirebirdSafe) based on a the builtin indicators "Bears power" and "Bulls power". Gives some kind of safe-zone for Firebird to operate. You can test it if you like against your trades from last week - only visual. See you).
Attached File(s)
File Type: mq4 FirebirdSafe.mq4   2 KB | 350 downloads
  • #287
  • Jun 25, 2006 7:42am Jun 25, 2006 7:42am
Plans for next week:

2 demo-accounts for the pairs GBPUSD, USDCHF, USDJPY, EURUSD, EURJPY.
TF for both is M15

Settings:

MA_length=10
MA_timeframe=15
MAtype=0
Percent=0.05000000
TradeOnFriday=1
slip=100
Lots=0.20000000
TakeProfit=18
Stoploss=42
Fast_Period=23
Fast_Price=1
Slow_Period=84
Slow_Price=1
DivergenceLimit=0.00200000
Use_V63D_Divergence=0
PipStep=40
IncreasementType=0.00000000
DVLimit=10
PipsGoal=500
PipsLoss=500
GMT=0
DST=0
OpeningHour=0
ClosingHour=24
writelog=0

One of the accounts is running for 24 hours a day. For the other one I'm using EDEA with the following times (GMT+2):

from 8:00 to 12:00
from 13:00 to 15:00
from 16:00 to 18:00
from 19:00 to 22:00

According to the Forex Calendar of forexfactory.com we ca expect some turbulence on Thursday at 8:15 and on Friday at 13:30. With EDEA I have exclude the following times (only for the account that's NOT running 24 hours:

Thursday;
Close for that day 19:50

Friday:
Close from 10:50 to 11:45

I'm very curious what will be the results next Friday!!
  • #288
  • Jun 25, 2006 8:04am Jun 25, 2006 8:04am
Hello Hendrick,

What is the difference between these settings and the one you had before (before changing to 26 TP and 52 SL)?

Quoting Hendrick
Plans for next week:

2 demo-accounts for the pairs GBPUSD, USDCHF, USDJPY, EURUSD, EURJPY.
TF for both is M15

Settings:

MA_length=10
MA_timeframe=15
MAtype=0
Percent=0.05000000
TradeOnFriday=1
slip=100
Lots=0.20000000
TakeProfit=18
Stoploss=42
Fast_Period=23
Fast_Price=1
Slow_Period=84
Slow_Price=1
DivergenceLimit=0.00200000
Use_V63D_Divergence=0
PipStep=40
IncreasementType=0.00000000
DVLimit=10
PipsGoal=500
PipsLoss=500
GMT=0
DST=0
OpeningHour=0
ClosingHour=24
writelog=0

One of the accounts is running for 24 hours a day. For the other one I'm using EDEA with the following times (GMT+2):

from 8:00 to 12:00
from 13:00 to 15:00
from 16:00 to 18:00
from 19:00 to 22:00

According to the Forex Calendar of forexfactory.com we ca expect some turbulence on Thursday at 8:15 and on Friday at 13:30. With EDEA I have exclude the following times (only for the account that's NOT running 24 hours:

Thursday;
Close for that day 19:50

Friday:
Close from 10:50 to 11:45

I'm very curious what will be the results next Friday!!
  • #289
  • Jun 25, 2006 8:07am Jun 25, 2006 8:07am
Here's an indicator that shades the background of a chart depending on what session you're in. You have to adjust the inputs for your GMT offset, but it might be useful for anyone trying to code Firebird to trade in certain sessions.
Attached File(s)
File Type: zip i-Sessions.zip   2 KB | 320 downloads
  • #290
  • Jun 25, 2006 8:25am Jun 25, 2006 8:25am
Quoting Hendrick
Hi Ben,

EDEA is doing no more and no less than triggering the " Expert Advisors" button in MT4. So open trades are left to run.

(Have been studying the code of Firebird now for 2 days non-stop. Gives me a real headache. Made a quick indicator (FirebirdSafe) based on a the builtin indicators "Bears power" and "Bulls power". Gives some kind of safe-zone for Firebird to operate. You can test it if you like against your trades from last week - only visual. See you).
I can't attach the new safe firebird MT4 to any of my charts.
  • #291
  • Jun 25, 2006 8:53am Jun 25, 2006 8:53am
Quoting Yardie
Hello Hendrick,

What is the difference between these settings and the one you had before (before changing to 26 TP and 52 SL)?
Hey Yardie,

All the settings are the same as before except the setting for PipStep. It's now 40 instead of 15.
  • #292
  • Jun 25, 2006 8:54am Jun 25, 2006 8:54am
Quoting bigbear777
I can't attach the new safe firebird MT4 to any of my charts.
It's an indicator. Have you placed it in the right folder? (\experts\indicators).
  • #293
  • Jun 25, 2006 10:43am Jun 25, 2006 10:43am
Hi,

i am planning to write an EA which will call firebird EA when ADX < 0 and will call another EA(which works well under trending conditions) when adx>=20....
  • #294
  • Jun 25, 2006 11:12am Jun 25, 2006 11:12am
Sounds great NS. I will test it once its complete.



Quoting ns_karthik
Hi,

i am planning to write an EA which will call firebird EA when ADX < 0 and will call another EA(which works well under trending conditions) when adx>=20....
  • #295
  • Jun 25, 2006 12:36pm Jun 25, 2006 12:36pm
Perfect NS. I don't have the ability to code, otherwise I would have, but that's just what's needed some type of "anti trend" filter. I can test at least two versions here if needed.



Quoting ns_karthik
Hi,

i am planning to write an EA which will call firebird EA when ADX < 0 and will call another EA(which works well under trending conditions) when adx>=20....
  • #296
  • Jun 25, 2006 12:42pm Jun 25, 2006 12:42pm
Hendrick, How do you read FirebirdSafe? It places a subgraph at the bottom of the chart. All lines are green -- some below zero line and some above. How does it indicate optimal trading type for Firebird?
  • #297
  • Jun 25, 2006 2:37pm Jun 25, 2006 2:37pm
Hey Hendrick,

I am going to test these new settings this week as well. But I made one slight modification. I am making the TP 21 instead of 18 pips. This way, I can make up for a loss with 2 win instead of 2 wins+ with a 18 pips TP. I will be doing it 24 hours per day.


Quoting Hendrick
Plans for next week:

2 demo-accounts for the pairs GBPUSD, USDCHF, USDJPY, EURUSD, EURJPY.
TF for both is M15

Settings:

MA_length=10
MA_timeframe=15
MAtype=0
Percent=0.05000000
TradeOnFriday=1
slip=100
Lots=0.20000000
TakeProfit=18
Stoploss=42
Fast_Period=23
Fast_Price=1
Slow_Period=84
Slow_Price=1
DivergenceLimit=0.00200000
Use_V63D_Divergence=0
PipStep=40
IncreasementType=0.00000000
DVLimit=10
PipsGoal=500
PipsLoss=500
GMT=0
DST=0
OpeningHour=0
ClosingHour=24
writelog=0

One of the accounts is running for 24 hours a day. For the other one I'm using EDEA with the following times (GMT+2):

from 8:00 to 12:00
from 13:00 to 15:00
from 16:00 to 18:00
from 19:00 to 22:00

According to the Forex Calendar of forexfactory.com we ca expect some turbulence on Thursday at 8:15 and on Friday at 13:30. With EDEA I have exclude the following times (only for the account that's NOT running 24 hours:

Thursday;
Close for that day 19:50

Friday:
Close from 10:50 to 11:45

I'm very curious what will be the results next Friday!!
  • #298
  • Jun 25, 2006 7:38pm Jun 25, 2006 7:38pm
Hi Guys

As of this week I have modified Firebird to traded in the opposite direction if there are sharp movements. Basicly what it is, is to have a firebird inside a firebird and when it reaches the outside levels it trades in opposite direction than it would normally( in other words follow the spike until it gets inside the outer walls again). I've also added money management to it. I'll be posting results daily.

Mono
Mono
  • #299
  • Jun 25, 2006 7:43pm Jun 25, 2006 7:43pm
Hey Mono,

Thats a great start!

You may want to read about ATDMF - its a technical trading strategy using Bollinger Bands that may be of some use. It defines trading opportunites by price closing outside of the bands. Anyhow it would take a long time to explain in one post. But it may be of great use in defining a 'trending' market in terms of the 'new firebird'.

I have some documentation if you're interested. I look forward to your results - this will be a great improvement to an EA that has a fatal flaw... but maybe not for long

lonespruce.

Quoting mono
Hi Guys

As of this week I have modified Firebird to traded in the opposite direction if there are sharp movements. Basicly what it is, is to have a firebird inside a firebird and when it reaches the outside levels it trades in opposite direction than it would normally( in other words follow the spike until it gets inside the outer walls again). I've also added money management to it. I'll be posting results daily.

Mono
  • #300
  • Jun 26, 2006 3:50am Jun 26, 2006 3:50am
That sounds promising and a little like the "Firehedge" option that was supposed to work in Firebird. Looking forward to seeing how it works.



Quoting mono
Hi Guys

As of this week I have modified Firebird to traded in the opposite direction if there are sharp movements. Basicly what it is, is to have a firebird inside a firebird and when it reaches the outside levels it trades in opposite direction than it would normally( in other words follow the spike until it gets inside the outer walls again). I've also added money management to it. I'll be posting results daily.

Mono
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