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Straddle trading EA

  • #861
  • Sep 26, 2013 4:32am Sep 26, 2013 4:32am
Hi Alan,

I think there might be a bug in V.4.0.0?

It looks like the PointsGap is being added to PointsAway when SecBAO is triggered, therefore the Pending Orders don't actually move in?

Has anyone else noticed this?

Before SecBAO


Attached Image


After SecBAO

Attached Image
  • #862
  • Sep 26, 2013 6:32am Sep 26, 2013 6:32am
Quoting Coley
Hi Alan, I think there might be a bug in V.4.0.0? It looks like the PointsGap is being added to PointsAway when SecBAO is triggered, therefore the Pending Orders don't actually move in? Has anyone else noticed this? Before SecBAO {image} After SecBAO {image}

If you set SecBAO, a special technique will be employed where the orders are opened 'PointsGap' points away + Pointsaway setting from current price, which allows you to open orders earlier but safely. When the time reaches SecBAO seconds before the news, the orders will be moved into place. If you set this to the same value as SecBPO, the code is ignored and the EA just opens the orders at the normal distance and doesn't move them. On Demo, you may find the orders aren't moved because there aren't enough price ticks generated. In this case try setting SecBAO higher than 10. On Live, during news you may be able to set as low as 3 seconds. Default Setting is 5.



sounds like what would happen if you are using a demo.
  • #863
  • Edited 8:09am Sep 26, 2013 7:22am | Edited 8:09am
Quoting Coley
Hi Alan, I think there might be a bug in V.4.0.0? It looks like the PointsGap is being added to PointsAway when SecBAO is triggered, therefore the Pending Orders don't actually move in? Has anyone else noticed this? Before SecBAO {image} After SecBAO {image}
It looks to me like you got the images the wrong way round. Hang on ---- Scrap that. If no price ticks are received, then the orders won't move in. To be doubly sure, you should record prices using spreads and sessions indicator available for download from the forum and this will tell you if any ticks were received....

If your broker is a bit sparse with ticks, use SecBAO=10

I used V4 for about a month before I released it so I know it's working....

Alan
  • #864
  • Sep 27, 2013 9:20pm Sep 27, 2013 9:20pm
Thanks Alan,

I'll have to recheck this during trading hours, but I think you're right - it's not getting the tick to trigger BAO.

To clarify my setup - for lower volatility Lv.2 eco data releases I'm setting CTCBN=0 + SecBAO=1 with the aim to bring in the orders right before the release. What is probably happening is there is no tick at T-1sec so BOA is not getting triggered.

Have you thought about using TimeLocal() instead of TimeCurrent() - I think it would be a huge benefit not being at the mercy of tick data time stamps.

The other advantage of this would be the ability to set your PC or VPS to your Local Time and not have to do the conversion to Broker Time.

I might modify your EA and test it.
  • #865
  • Sep 27, 2013 11:10pm Sep 27, 2013 11:10pm
Quoting Coley
Thanks Alan, I'll have to recheck this during trading hours, but I think you're right - it's not getting the tick to trigger BAO. To clarify my setup - for lower volatility Lv.2 eco data releases I'm setting CTCBN=0 + SecBAO=1 with the aim to bring in the orders right before the release. What is probably happening is there is no tick at T-1sec so BOA is not getting triggered. Have you thought about using TimeLocal() instead of TimeCurrent() - I think it would be a huge benefit not being at the mercy of tick data time stamps. The other advantage...
Coley

Unfortunately, the tick data is what EAs rely on to run. Every time a tick is received the 'start' routine is executed. In other words, the EA runs once for each tick, and a tick is a change in price. Hence why it doesn't work as well on 4 digit brokers, because price changes less often.

If the EA is performing a lot of processing it may be that it doesn't even execute every tick. Which is why Amazing EA used to be vulnerable to spikes when opening the orders as this can take several seconds depending on broker traffic, server load etc. This is the reason I setup SecBAO in the first place, because opening orders often takes a lot more time than modifying them !

SecBAO=1 is definitely too low. It's not even to do with Latency as Ticks die off just before news and price tends to stabilise. Why would anybody Buy or Sell immediately before the news?

The Level 2 or 3 news you are targeting are less likely to produce spikes so you shouldn't be concerned with reducing SecBAO, but they are more likely to produce slower more sustained moves. You can set also SecBMO to be negative if you want if that helps.

TimeCurrent is only used for the Head Up Display but the News Time is based on the MQL4 functions Hour(), Minute() etc. which is why we need to use Server Time.
  • #866
  • Sep 29, 2013 7:24pm Sep 29, 2013 7:24pm
Hi Alan,

thanks for the response, I heed your advice and understand the structure of your EA. As you pointed out Lv.2 eco data will not be a spike but a pop and more sustained follow through, although not as many pips as headline data events. To setup for Lv.2 less volatility I am trying to get my pending orders as close to the market and as late as possible. I've noticed that the spreads widen just prior to releases, they hold until T=0sec, before the market moves on the announcment. Therefore I want to time my BAO at precisely T-1sec, 5pips away, this can't be done with Tick feed timestamps. Probably a deliberate effort by LP's not to supply a Tick for precisely this reason.

One thing I picked up from that webinar I posted, is that Ticks are changes on quotes from the LP's, not when Orders are executed. Sure, quotes will change if people buy/sell, but quotes will also change if no one buy/sell but dependent on market conditions, like pre-news releases.

I managed to fumble around and change to Local Time - but as you state your EA needs a Tick to run the routine each time. If you're open to exploring a different approach, then would you consider programming it with Local Time and a Loop, so the first Tick starts the EA running but then it is independent of Tick feed frequency. Ideally the Loop would call Bid/Ask prices, with the flexibility of loop frequency user input 1-1000ms.

I have another Trade Manager EA (FF - MPTM) which works like this, it is a massive piece of code but still works perfectly fine on a loop setting of 200ms.
  • #867
  • Sep 29, 2013 11:29pm Sep 29, 2013 11:29pm
Quoting Coley
Hi Alan, thanks for the response, I heed your advice and understand the structure of your EA. As you pointed out Lv.2 eco data will not be a spike but a pop and more sustained follow through, although not as many pips as headline data events. To setup for Lv.2 less volatility I am trying to get my pending orders as close to the market and as late as possible. I've noticed that the spreads widen just prior to releases, they hold until T=0sec, before the market moves on the announcment. Therefore I want to time my BAO at precisely T-1sec, 5pips away,...
Coley,

Before I couldn't see the merit in changing the EA to work on Local Time, because without ticks arriving, nothing else would happen. I have read up on the relative merits of using a loop and ticks in this thread


Which EA model is best to use?
http://forum.mql4.com/17348

I prefer sticking to the tick method but once the time settings are converted, then it is simply a matter of generating more ticks (at least 1 per second)

However, I downloaded and used a tick generator at the weekend. This software is meant for development but can supplement ticks by repeating the last tick price received.....

I am going to do the time settings conversion and test it.....

Alan
  • #868
  • Sep 30, 2013 9:03am Sep 30, 2013 9:03am
I also believe that depending on the weather, not the tick of the platform would be better, if that is possible, because I wonder if you could prevent the slippage of the orders, because we'd be entering at the right time?

And the depth of the market, would have an advantage in the News?
Invest in creating their EAs, because one day you need one!
  • #869
  • Oct 1, 2013 4:44am Oct 1, 2013 4:44am
Hi
Since I've updated to version 4 I'm getting sometimes a "SL above limit" error which leads to the cancellation of the order. Do you know what could this be? It's not clear why it happens. By SL is set at 10 pips.
Cheers,
nuno
  • #870
  • Oct 1, 2013 5:34am Oct 1, 2013 5:34am
Quoting nquental
Hi Since I've updated to version 4 I'm getting sometimes a "SL above limit" error which leads to the cancellation of the order. Do you know what could this be? It's not clear why it happens. By SL is set at 10 pips. Cheers, nuno
nuno, I don't know what it means. All the errors that exist are loaded into the EA and that is not one that is listed. Sometimes, all you need to do is look in the error log for the mt4 or the experts error log and it will give you a more meaningful error message.

If you send me the logfiles I will take a look...

Alan
  • #871
  • Oct 1, 2013 3:08pm Oct 1, 2013 3:08pm
Quoting Alan111S
{quote} nuno, I don't know what it means. All the errors that exist are loaded into the EA and that is not one that is listed. Sometimes, all you need to do is look in the error log for the mt4 or the experts error log and it will give you a more meaningful error message. If you send me the logfiles I will take a look... Alan
Hi Alan
Here's the log. It seems that it was the spread.
Cheers
Nuno

MAILBOX
Order triggered but could not be completed due to invalid SL

LOG
2013.10.01 09:59:46 Amazing Forex System Expert Advisor v 4.0.0 By Alan Prothero
2013.10.01 09:59:46 Opening BuyStop @ 1.37434, OrdersCondition=0
2013.10.01 09:59:46 OpenBuyStop, OrderSend Executed, ticket=50410682
2013.10.01 09:59:46 Opening SellStop @ 1.33315, OrdersCondition=0
2013.10.01 09:59:47 OpenSellStop, OrderSend Executed, ticket=50410684
2013.10.01 09:59:53 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:53 Sell Stop was @ 1.33315, changed to 1.35296
2013.10.01 09:59:53 Buy Stop was @ 1.37434, changed to 1.35418
2013.10.01 09:59:54 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:54 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:54 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:55 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:55 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:55 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:55 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:56 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:56 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:56 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:56 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:56 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:56 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:57 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:57 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:57 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:57 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:58 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:58 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:58 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:58 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:59 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:59 Sell Stop was @ 1.35296, changed to 1.35284
2013.10.01 09:59:59 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:59 Modifying Orders, OrdersCondition=11
2013.10.01 09:59:59 Modifying Orders, OrdersCondition=11
2013.10.01 10:00:02 MaxSpread Exceeded, MaxSpread: 130 Spread : 150
2013.10.01 10:00:03 DeleteBuyStop, OrderDelete Executed
  • #872
  • Oct 3, 2013 4:01am Oct 3, 2013 4:01am
Alan, is there any way of backtesting the expert to try to understand what are the best parameters?
I know it would have to be done one news at a time, but better than nothing. I tried to backtest in MT4 but it didn't work.
  • #873
  • Edited 8:46am Oct 3, 2013 5:02am | Edited 8:46am
Hay Guys, I seem to be seeing great inconsistencies with news sites. forex factory has the NFP next week, but
http://www.myfxbook.com/forex-economic-calendar and http://www.babypips.com/tools/forex-calendar/ has it listed for tomorrow. Anyone know what's up?
Do you just use forex factory news Alan, or a number of sites?
  • #874
  • Oct 3, 2013 8:39am Oct 3, 2013 8:39am
NFP has been delayed provisionally to next Wednesday. The figures are gathered and released by US Govt officials and the shutdown has prevented them completing this. If the shutdown continues into next week I expect it will be delayed again!

Alan
  • #875
  • Oct 3, 2013 8:43am Oct 3, 2013 8:43am
Quoting Alan111S
NFP has been delayed provisionally to next Wednesday. The figures are gathered and released by US Govt officials and the shutdown has prevented them completing this. If the shutdown continues into next week I expect it will be delayed again! Alan

Thanks Mate. I will take off those trades.
  • #876
  • Oct 3, 2013 8:45am Oct 3, 2013 8:45am
Quoting nquental
Alan, is there any way of backtesting the expert to try to understand what are the best parameters? I know it would have to be done one news at a time, but better than nothing. I tried to backtest in MT4 but it didn't work.
Nuno, Backtesting won't work anyway, because it uses the 1 minute data and not the tick data. For example, if you set your SL to 5 pips you will get stopped out with most news, because price (and spreads) yo-yo a bit at news time. But back testing wouldn't consider the yo-yo effect. Plus the spreads are not real etc....etc...

I never managed to back test it but I don't think there is much value in it anyway.....

Alan
  • #877
  • Oct 3, 2013 8:47am Oct 3, 2013 8:47am
Quoting Alan111S
{quote} Nuno, Backtesting won't work anyway, because it uses the 1 minute data and not the tick data. For example, if you set your SL to 5 pips you will get stopped out with most news, because price (and spreads) yo-yo a bit at news time. But back testing wouldn't consider the yo-yo effect. Plus the spreads are not real etc....etc... I never managed to back test it but I don't think there is much value in it anyway..... Alan
I see, it makes sense what you say, even if I think there's a way to use real spreads and tick data, but it would probably be too complicated.
  • #878
  • Oct 4, 2013 1:18pm Oct 4, 2013 1:18pm
Hey Guys,

im just studying the expert. It looks very good.. and i would like to say a big thank u for the developer and to the community...

I would like to have a question.. i done some experiment, and i cannot manage to place pending orders to lat's say the yesterdays low/high... its adding to the low/high automatically 5 pipps, even if im entering to the points away section 0...

Somebody can give a hand with the settings pls.

i would like to use the expert lets say on monday, and to take trades based on fridays candle... THE high and the low needs to be the entry point.. i would like to avvoid to have an added 5 pipps to the entry...

thank u in advance...

Gl with the trades!
  • #879
  • Oct 4, 2013 9:03pm Oct 4, 2013 9:03pm
Quoting nzsolt85
Hey Guys, im just studying the expert. It looks very good.. and i would like to say a big thank u for the developer and to the community... I would like to have a question.. i done some experiment, and i cannot manage to place pending orders to lat's say the yesterdays low/high... its adding to the low/high automatically 5 pipps, even if im entering to the points away section 0... Somebody can give a hand with the settings pls. i would like to use the expert lets say on monday, and to take trades based on fridays candle... THE high and the low needs...
Pointsaway can't go lower than the minimum stop distance, which depends on your broker. I set this on purpose for obvious reasons, as some people were getting orders not entered.

Some brokers require 5 pips, most 3 pips, others less. Go Markets is 2 pips, Thinkforex is 1 pip. I use Axitrader and I am lucky enough to be on their US02 server even though I don't have a PRO account. So when I tested Amazing EA on there, Pointsaway was indeed set to 0. From Axitraders website.....

AxiTrader’s US05 MT4 server has a minimum stop-loss and take-profit distance of 2 pips which is stated as ‘20’ pips on the platform as we use 5 decimal pricing, except for Japanese Yen which is priced to 3 decimal places. On our PRO US (US02) server, there is no distance required to set stop-loss and take-profit.
  • #880
  • Oct 5, 2013 3:36am Oct 5, 2013 3:36am
Thank u Alan for the quick reply and the clear explanation... im going to try then Go Markets... but i was thinking, that it needs to be another solution for it, bic. if we are thinking, now on a real scenario. lets say, we would like to use the amazing ea on daily bars. lets say the 2 last candle. and the 2 last candles are forming a 140 pipps body, from the bottom to the top. and now the price its floating somewhere at the middle..(70pipps away lets say from the high/low) and its just interesting, that even like this, a pending to the top and bottom bic.cannot be placed at the candle low/high...

How about a logic, that its using for basics, the pointsaway 5 pipps just in case if the diffrence betw. the current price and the level, where the ea its going to place an order its less then 5 pipps.. this can be done? or its just a pain?

Thanks in adv. for your reply.
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