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The power of range bars

  • Linked: HotForex - averaging down test 01 | Demo Account XXXX02
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  • #101
  • Jul 30, 2014 8:27am Jul 30, 2014 8:27am
Quoting Jeffray
I currently have one problem in setting up my range bar charts. When I attach the EA to the GBPUSD Chart it will work fine and price keeps updating! BUT when I attach the EA on my DAX (DE30) Chart, it loads the history and price is not updating at all. Iam quiet familiar with offline charts, but I don't understand why this is not working... can someone help me to fix this? have actually no idea.
it is probably the new mt4... i really do not liked...
I have some offline charts that EA's works on it, some not

this is the two not time based bars I got... range bars with no gaps and renko/median renko...
actually this median renko is generic... on "K" you chose your "angle"

k=0.5 is on the half (median renko), k=0.3 is on 70% of the bar, k=1 is normal renko
put to work and you will see... (y)

(all two indicators)
Attached File(s)
File Type: ex4 RangeBarChart_v102c.ex4   19 KB | 640 downloads
File Type: mq4 RangeBarChart_v102c.mq4   14 KB | 756 downloads
File Type: mq4 RenkoMeanLiveChart_v2.0.mq4   18 KB | 647 downloads
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #102
  • Jul 30, 2014 8:37am Jul 30, 2014 8:37am
Quoting Jeffray
{quote} I use the Ea posted in this thread for some reason, I restarted my MT4 a couple of times and then it worked One other issue. I tried to use the BBandStop MTF postet in here but unfortunetly it doesn't work with my MT4 Build 670. Anyone has a solution for this?
If you compile some indicator when the EA is running, it stops working and you need to restart the platform. The EA posted in here, the one i attached recently, works fine with build 670, it is the one i use, so...

Regarding the bbands stop indicator, use the one included in the collection in this post http://www.forexfactory.com/showthre...28#post7632728
and be sure to copy both mq4 and ex4 files or it won't work because its mq4 alone is not ready for this build.

Let me know if you need further help...
First rule is not to lose. Second rule is not to forget the first rule...
  • #103
  • Jul 30, 2014 8:44am Jul 30, 2014 8:44am
the theory behind that backtest
just follow the red line...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 146 KB
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #104
  • Jul 30, 2014 8:54am Jul 30, 2014 8:54am
Quoting room217
the theory behind that backtest just follow the red line... {image}

so...the entries criteria? the inclination of the ma? For this you definitely need volatility. In these day it would be a disaster.
First rule is not to lose. Second rule is not to forget the first rule...
  • #105
  • Jul 30, 2014 9:10am Jul 30, 2014 9:10am
Quoting thefxpros
{quote} so...the entries criteria? the inclination of the ma? For this you definitely need volatility. In these day it would be a disaster.
just follow the MA, price closes above=buy, price closes bellow=sell, 5MA smooth, shift 1
if you want, give me your email and I send the EA for you...

the ea of that state I could not find (ea8), but I rebuild one similar (according to what I remember)...
it has no trailing stop yet but I'm working on it...

however I have to say, I do not know you if it will work on our offline chart... as I said, the mt4 is strange since 2011... hehehe
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #106
  • Jul 30, 2014 9:13am Jul 30, 2014 9:13am
Thank you very much "room217" and "thefxpros" for your kind help!
Really appreciate it!

Will test the indicators and the EAs!

Actually I try to avoid the currency pairs at the moment because of the low ADR & ATR.
Thats why I swopped to the DE30 and other Indices/Futures and stumpled upon this thread.

"thefxpros" I really like to see you trading!!!
Would you mind to post the trades you took today?
And a Little explanation behind every one
  • #107
  • Jul 30, 2014 9:18am Jul 30, 2014 9:18am
Quoting room217
{quote} just follow the MA, price closes above=buy, price closes bellow=sell, 5MA smooth, shift 1 if you want, give me your email and I send the EA for you... the ea of that state I could not find (ea8), but I rebuild one similar (according to what I remember)... it has no trailing stop yet but I'm working on it... however I have to say, I do not know you if it will work on our offline chart... as I said, the mt4 is strange since 2011... hehehe
not really a bad idea...
if ge go only for a couple of pips each trade we might miss some big moves, BUUUUT I prefer for goin for just a piece of cake instead aiming the whole one
3 trades a day with 5 pips each makes my day!
continuing this procedure every day will keep my creditor and doctor away
  • #108
  • Edited 9:29am Jul 30, 2014 9:18am | Edited 9:29am
Quoting room217
{quote} just follow the MA, price closes above=buy, price closes bellow=sell, 5MA smooth, shift 1 if you want, give me your email and I send the EA for you... the ea of that state I could not find (ea8), but I rebuild one similar (according to what I remember)... it has no trailing stop yet but I'm working on it... however I have to say, I do not know you if it will work on our offline chart... as I said, the mt4 is strange since 2011... hehehe

mmmhh, i'm curious because i've always thought that an approach like this can't be profitable, only in a trending market it could. TP and SL?


Quoting Jeffray
Thank you very much "room217" and "thefxpros" for your kind help! Really appreciate it! Will test the indicators and the EAs! Actually I try to avoid the currency pairs at the moment because of the low ADR & ATR. Thats why I swopped to the DE30 and other Indices/Futures and stumpled upon this thread. "thefxpros" I really like to see you trading!!! Would you mind to post the trades you took today? And a Little explanation behind every one

Sure! It will be done but today, i was busy to do the know of the crude oil and just two trades for today in DJ30, i think i stop trading now. I'll post it later
First rule is not to lose. Second rule is not to forget the first rule...
  • #109
  • Jul 30, 2014 9:21am Jul 30, 2014 9:21am
Quoting thefxpros
{quote}In these day it would be a disaster.
you got that right... hahaha
this is the kind of test that went so, so wrong that I even consider to invert the orders... hehehe
Attached File(s)
File Type: zip disaster.zip   15 KB | 462 downloads
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #110
  • Jul 30, 2014 9:32am Jul 30, 2014 9:32am
Quoting thefxpros
{quote} mmmhh, i'm curious because i've always thought that an approach like this can't be profitable, only in a trending market it could. TP and SL?
no tp... once is range bars, almost everytime one or two bars against, the MA would inverted, so the SL was on the low/high of the bar 1 or 2 (current bar is bar 0, bar 1 is previous bar and 2 is the one before)... and each bar the market go to my side, the ea moved the sl for the high/low of the next bar... this could sound complicated but it's not, it's quite simple
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #111
  • Jul 30, 2014 9:34am Jul 30, 2014 9:34am
Quoting room217
{quote} you got that right... hahaha this is the kind of test that went so, so wrong that I even consider to invert the orders... hehehe {file}

mechanical trading is an hard task, the market doesn't follow always same criteria so why should we trade always with the same method? it can't work in the long run...markets are like a puppy, sometime he is worried, sometimes he is crazy and sometimes he is just sleeping...
First rule is not to lose. Second rule is not to forget the first rule...
  • #112
  • Jul 30, 2014 9:37am Jul 30, 2014 9:37am
Quoting Jeffray
{quote} not really a bad idea... if ge go only for a couple of pips each trade we might miss some big moves, BUUUUT I prefer for goin for just a piece of cake instead aiming the whole one 3 trades a day with 5 pips each makes my day! continuing this procedure every day will keep my creditor and doctor away
yeah... that backtest was 24/5, now I'm thinking is filter the moments with news or try another thing... not just leave the expert all day
I commented about this idea on the "news trading" topic but the guys over there does not gave too much attention...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #113
  • Jul 30, 2014 9:47am Jul 30, 2014 9:47am
SL (trailing stop) movements
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 144 KB
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #114
  • Edited 11:25am Jul 30, 2014 11:14am | Edited 11:25am
Here the recap for today. As i told before, today i was busy in watching crude oil moving. I didn't know it, i didn't know how it moves and performs; so...my favourite way to learn the "personality" of a new instrument is just watching it in real time and do nothing (actually in the end i couldn't resist the temptation to open a demo trade...result? -67 ticks )


So...more for needs than for choise i let today's trades (at least the first one) to run a bit longer and i discovered, again, that types of strategies different from scalping, don't fit my personality at best.


first trade was lucky, i chose the best possible entry point just because i opened the platform just a few minutes before that i took the trade. If i had the platform opened since 20-30 minutes before, i would choosen the entry before and closed the position with 0 or small loss.


FIRST TRADE entry and exit:

Attached Image (click to enlarge)
Click to Enlarge Name: first.JPG Size: 152 KB



Nothing special with the second trade, just a common trend trade. Double TOP and next highs are decreasing, so i tried that short trade. If i had held it...big drop a few minutes later but i'm happy for the day score: 2 trades, 2 wins


SECOND TRADE entry and exit:

Attached Image (click to enlarge)
Click to Enlarge Name: second.JPG Size: 154 KB




Tomorrow i would like to include crude oil in my trading, its tick value (10$ a tick) with that volatility tempts me a lot...will see.
First rule is not to lose. Second rule is not to forget the first rule...
  • #115
  • Jul 30, 2014 12:28pm Jul 30, 2014 12:28pm
Always wanted to use range or renko bars

The shitty part of having a good system is you don't need to change it
  • #116
  • Jul 30, 2014 4:24pm Jul 30, 2014 4:24pm
[quote=thefxpros;7640825]Here the recap for today. As i told before, today i was busy in watching crude oil moving. I didn't know it, i didn't know how it moves and performs; so...my favourite way to learn the "personality" of a new instrument is just watching it in real time and do nothing (actually in the end i couldn't resist the temptation to open a demo trade...result? -67 ticks )

crude oil is crazy! hehehe

when I was looking to fx only, I loved euraud and gbpjpy because moves a lot... when a guy from the community tell us about crude oil was like "wow... now, this is crazy"... hehehe... I already saw pretty gigantic moves on crude oil...

how do you define your exit? my first thought is 2x the SL, but sometimes the SL is too big and 2x SL could be a pretty big move...
your trades seems to be so simple...
"To get rich you must have a lot of money" - Joe Abandoned Mine
  • #117
  • Edited 5:26pm Jul 30, 2014 5:16pm | Edited 5:26pm
Quoting room217
crude oil is crazy!
I noticed ... but it is tradeable, unlike similar volatile instruments like gold rb2 pip where i can't trade anything.



Quoting room217
how do you define your exit? my first thought is 2x the SL, but sometimes the SL is too big and 2x SL could be a pretty big move...
your trades seems to be so simple...
if you ask me with those long eyebrows...how can i not answer you?

I never do any math when i close a trade, it is just price action that tells me when it is better to close the trade. When the situation became unreadable for me, i close. If i am in large profit, often i let the trade to go a bit longer.

And you? what rb sizes do you use in your trading?

Anyone who wants to post screenshots of their trades is welcome, come on! The more we are, the better!
First rule is not to lose. Second rule is not to forget the first rule...
  • #118
  • Jul 31, 2014 1:24am Jul 31, 2014 1:24am
Just got stopped out for plus 2 points on the FO on DE30.
Was up 8 points but 9600 seems to be a bit of resistance for now.
Just reentered again.

All in testing mode for now!
Iam using two charts, 2 points and 3 points bar size

Attached Image (click to enlarge)
Click to Enlarge Name: 31.07..PNG Size: 75 KB
  • #119
  • Jul 31, 2014 4:32am Jul 31, 2014 4:32am
Quoting Jeffray
Just got stopped out for plus 2 points on the FO on DE30. Was up 8 points but 9600 seems to be a bit of resistance for now. Just reentered again. All in testing mode for now! Iam using two charts, 2 points and 3 points bar size {image}

Hey, hi!

Not a bad trade at all. Taken by following the rules, all indicators in line, well done!


Maybe you can consider, in order to improve your analysis skills, to include a multi time frame approach. Instead of 2,3,4,5 pip charts like me, you could want to try other sizes but before taking a trade, always take a look at the bigger picture; the most of the time this will keep you out of troubles!


Attached Image (click to enlarge)
Click to Enlarge Name: Cattura.JPG Size: 237 KB
First rule is not to lose. Second rule is not to forget the first rule...
  • #120
  • Jul 31, 2014 8:38am Jul 31, 2014 8:38am
I tried three counter trend trades today in demo mode...result: 1 win, 1 loss, 1 breakeven.

I made a couple of videos instead of screenshots...next time i'll add some music, i promise


Inserted Video




Inserted Video
First rule is not to lose. Second rule is not to forget the first rule...
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