zigzag indicator currency trading... H4 timeframe, and above | Forex Factory

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zigzag indicator currency trading... H4 timeframe, and above

  • #1
  • First Post: Mar 12, 2014 9:46am Mar 12, 2014 9:46am
Hi, I was posting my live trading results of my custom swing zz Ea in the " swing high / swing low indicator + alert?" Thread under platform tech, and it was suggested to me by another member to start a new thread about this system under the trading systems where it would be more relevant. I just started testing live a custom zigzag Ea with suprising results so far. I had 5 consecutive wins using this Ea on the 1H timeframe, then a really bad losing trade which probably could have been avoided, and then 2 consecutive wins after that on the H4 timeframe. As results come in, I will post here.
  • #2
  • Mar 12, 2014 10:28am Mar 12, 2014 10:28am
Ok...keep us posted
  • #3
  • Mar 12, 2014 12:00pm Mar 12, 2014 12:00pm
I suggest that you post the EA here and explain a bit about the strategy.
No guts, no glory
  • #4
  • Mar 12, 2014 4:50pm Mar 12, 2014 4:50pm
All trades taken on the screenshot shown were taken consecutively 1 after the other. The first 5 were profitable, and the swing zz ea completed those trades on the H1 timeframe. The next consecutive trade was a real loser, and the ea entered that trade on the H1. As price went against that position I made an attempt to recover some of the loss of that trade by switching the EA to the H4 timeframe while the trade was still open. It then closed out for a loss on the H4. The 3 consecutive trades you see after the loss were taken on the H4 timeframe. All 3 were winners. I am going to continue to let the EA run on the H4 instead of the H1 in the hope that I can avoid a bad trade, or incur them less frequently. There may be a way to filter out the losing trades, but I am just not sure how.
Attached Image (click to enlarge)
Click to Enlarge Name: swing-zz-ea-live1.png Size: 167 KB
  • #5
  • Mar 13, 2014 9:45am Mar 13, 2014 9:45am
Can you post the EA so I can test it?
  • #6
  • Mar 13, 2014 9:58am Mar 13, 2014 9:58am
Quoting tdhowl
All trades taken on the screenshot shown were taken consecutively 1 after the other. The first 5 were profitable, and the swing zz ea completed those trades on the H1 timeframe. The next consecutive trade was a real loser, and the ea entered that trade on the H1. As price went against that position I made an attempt to recover some of the loss of that trade by switching the EA to the H4 timeframe while the trade was still open. It then closed out for a loss on the H4. The 3 consecutive trades you see after the loss were taken on the H4 timeframe....

lookin forward to see a back test that consists at least 1000 trades.

good trades,
BT
  • #7
  • Mar 13, 2014 4:39pm Mar 13, 2014 4:39pm
Hi eaglefaith7, I'm posting the results of this EA, but not the EA itself. If you want a zigzag EA coded for you... you can use if you want the same gentleman I used to code this EA. This is not a paid endorsement for this programmer. I am simply stating that this EA was coded by mql-programming.com. Usually, I think custom EA's can be made for you from $75 to $150 I guess.

Hi BataviaTrade, I do not think that it is possible to back test this EA because it was built on the custom swing zz indicator. as far as I know, repainting indicators cannot be back tested. The only way to test this EA that I know of is to trade with it.. win or fail, and then review the results of the trades. Good trades for you too.

See the 2nd screenshot.. more results are in.
Attached Image (click to enlarge)
Click to Enlarge Name: swing-zz-ea-live2.png Size: 169 KB
  • #8
  • Mar 18, 2014 9:17am Mar 18, 2014 9:17am
After the losing trade which was taken on the H1 timeframe, I had 8 consecutive winning trades on the H4 timeframe. However, I was trading the same exact pair and system with 2 different brokers at the same time but I had a losing trade with 1 of the brokers. I believe this occurred because one broker uses a template and the other doesn't. What I think is happening is that the template is skewing the way the swing zz indicator functions. ( on the same timeframe with different brokers the indicators high and low points are different ) .

Starting now, I decided to change my strategy somewhat.. Instead of trading every buy and sell point indicated by the swing zz indicator on the H4 timeframe; I am now going to check the swing zz indicators direction indicated on the daily timeframe first, and then adjust the EA to trade only to trade on the H4 timeframe in the same direction as the daily. This I think will make the system function well with both brokers regardless if the indicator is installed on a template or not. Hopefully.
Attached Image (click to enlarge)
Click to Enlarge Name: swing-zz-ea-live3.png Size: 176 KB
  • #9
  • Mar 19, 2014 7:45am Mar 19, 2014 7:45am
It appears to me that even with all its faults.. the zizag indicator is the best indicator for me to use for trading the forex market. When I tried to test and use trendlines, and other non-repainting indicators.. they did not work for me. Even with non-repainting indicators.. I had poor results trading. With a non-repainting indicator the trade is entered late, and as soon as the trade is entered.. price can shoot with force in the opposite direction of your open position and worse whipsawing affect can happen then when using a repainting indicator. The main fault of the zigzag is repainting. The other minimal problem with the zigzag is that different results appear to happen on different templates, and off them too.

In the hope of atleast remedying the main problem.. repainting.... I did hear of real non repainting zigzag indicators. I have 2 that were produced by a forex trading software promoter- Rita Lasker, and the other I know I have seen online in some forum, and I probably can aquire with some searching. What all these non-repainting zigzags have in common I believe is more, and extreme sensitivity to market fluctuations. Manually trading with these indicators would be to difficult to do, but not for a well coded EA. I am looking into this now. Maybe a non-repainting, high speed trading EA based on a non repainting zigzag indicator can be the ultimate money maker. I'll keep dreaming for us all!
  • #10
  • Mar 19, 2014 1:01pm Mar 19, 2014 1:01pm
I am now making the attempt to turn the dream into a reality. I contacted an EA programmer that I have done business with in the past.. and he is going to substitute out the swing zz indicator of the Swing ZZ EA, and replace it with a non repainting zigzag indicator called .. zigzagger_neo, which was created by Rita Lasker's Green Forex Group. I am hopeful this will be a big improvement to the overall function of the EA. I will post the results, and comments here when I start trading with the new version of the Swing ZZ EA.
  • #11
  • Mar 21, 2014 9:11am Mar 21, 2014 9:11am
I just received the new version of the swing zz ea.. It's running on a demo now, but I think next week I am going to run it live using only .01 lot size just to test it live. I have to just make a judgement call on the settings, and timeframe.. so, I decided on the 15M timeframe and to increase the length of the new indicator in inputs to 50 and see how this goes. Basically, this version of zigzag is not supossed to repaint.. so we will see..
  • #12
  • Mar 21, 2014 10:03am Mar 21, 2014 10:03am
Quoting tdhowl
Hi eaglefaith7, I'm posting the results of this EA, but not the EA itself. If you want a zigzag EA coded for you... you can use if you want the same gentleman I used to code this EA. This is not a paid endorsement for this programmer. I am simply stating that this EA was coded by mql-programming.com. Usually, I think custom EA's can be made for you from $75 to $150 I guess. Hi BataviaTrade, I do not think that it is possible to back test this EA because it was built on the custom swing zz indicator. as far as I know, repainting indicators cannot...
oke no prob. I see you're doin great with the system anyway, so well done.

Have a nice weekend.
  • #13
  • Mar 22, 2014 6:56am Mar 22, 2014 6:56am
Thanks BataviaTrade for your kind remarks.

Have a nice weekend too.
  • #14
  • Mar 24, 2014 8:16am Mar 24, 2014 8:16am
From my preliminary tests of the new version of Swing ZZ EA using the zigzagger_neo indicator; I find the results horrible. The zigzagger_neo indicator may not repaint, but it also enters a trade late in my opinion. I took a good EA and made it much worse in my opinion. I think I made a mistake, and went off track. Maybe the original version only needed some kind of simple filter. Anyone have an opinion?
  • #15
  • Mar 24, 2014 1:48pm Mar 24, 2014 1:48pm
I found this indicator posted on a forum here a long time ago. Can someone kindly tell me if the small arrow repaints? I was thinking of combining the original Swing ZZ EA with this indicator to prevent repainting.
Attached File(s)
File Type: ex4 fxnolosssmallarrow.ex4   8 KB | 1,123 downloads
File Type: mq4 fxnolosssmallarrow.mq4   16 KB | 1,355 downloads
  • #16
  • Mar 24, 2014 2:01pm Mar 24, 2014 2:01pm
Hello...

why aren't you giving us this EA?
  • #17
  • Mar 26, 2014 4:26pm Mar 26, 2014 4:26pm
Hi itsshabi, I am completely giving up on the 2nd version of the Swing ZZ EA with the substituted zigzagger_neo indicator. I continued to test that version on different timeframes and it is a complete losing machine, and a complete waste of time. However, the first version which uses the swing zz indicator does show promise. If you check my prior screenshots.. you will see that the first version had 5 consecutive wins, then 1 loss, and then 8 consecutive wins on the H4 timeframe. That first version appears to me to show some promise. The one large loss happened because of repainting. I think the first version only needs a decent filter so higher leverage trades could be taken more safely. I thought long on what to use, and I think a parabolic sar filter added to the original version will solve the problem and make and excellent EA. I think I am going to have my progrmmer do this for me, then I will test it and post results here. If this fails after this, then I am giving up forex also like Hanover. I am trying very hard to make it work in forex, because after this, it is over for me trying to make money in the financial market. I do not trade or autotrade stocks anymore, I do not trade or autotrade options anymore.. I do not invest in or trade mutual funds.. It did not work for me. My last try is now in forex. I either succeed in forex, or this is the end of my trading and investing days. This is why I'm trying so hard.
  • #18
  • Mar 27, 2014 4:58am Mar 27, 2014 4:58am
Hi tdhowl

Just been reading through your thread.

I have been trading something very similar using the ZZ semafor for the past 3 months and have had fantastic results using 4hour and daily time frames.

If I can give you some advice, it would be to forget trying to make an EA as it will never perform as well as a human trader and will take trades that you would not take if you were looking at the charts yourself. This method can easily be traded without a lot of screen time and trust me you will make money from it.

Martin
  • #19
  • Mar 27, 2014 6:03am Mar 27, 2014 6:03am
Hi ukmartin, thank you for your advise. I am very glad to hear that your manual trading strategy with the ZZ Semafor is working so well for you. I though already told my programmer to go ahead and include a parabolic sar filter for the original Swing ZZ EA. This is my last attempt on EA trading custom EA's. I will take your advise and try to manually trade more often and see how that works for me. Thanks again.
  • #20
  • Mar 27, 2014 6:19am Mar 27, 2014 6:19am
Quoting ukmartin
Hi tdhowl Just been reading through your thread. I have been trading something very similar using the ZZ semafor for the past 3 months and have had fantastic results using 4hour and daily time frames. If I can give you some advice, it would be to forget trying to make an EA as it will never perform as well as a human trader and will take trades that you would not take if you were looking at the charts yourself. This method can easily be traded without a lot of screen time and trust me you will make money from it. Martin
Hello,
ukmartin could you please tell us more about you system?
Thank you in advance.
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