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My EA Gift to Traders

  • #241
  • Edited Jan 31, 2015 11:44am Jan 30, 2015 9:51pm | Edited Jan 31, 2015 11:44am
Quoting shg
Hi Dave, Now check this back testing image.... At 1 it should not take the trade because RSI crossed oversold area long back. ie before i think 25 to 30 candles. At 2 trade should be executed at the start of the candle but price showing nearly top of the candle why is that so? also same problem at 1 as well. Look at the trade opening price is high in the air....funny... At 3 we should have to have sell trade executed but it did not...that is also funny... thanks {image}
There are a couple of problems with your assumptions.

1. The .set file that I sent you did not have buy or sell on trade reversal as the setting. It had Stop Loss and Take Profit set and TradeClosureMode = 0. As such, if a signal reversal happened whilst a trade was still open, nothing would happen until SL or TP. Only at that point, would the EA look for a signal to open another trade. If you require signal reversal, you need to set TradeClosureMode = 1 and SL=0. This is all clearly explained in the help file and on the input window.

2. Your RSI upper and lower levels on your chart are set at 70 and 30. I suspect your levels for AUDCAD optimization would have been different. The optimization that I sent to you for AUDUSD, for example, had the upper and lower levels at 67 and 33. You need to change your chart properties to display the correct levels.
Attached Image (click to enlarge)
Click to Enlarge Name: Inputs.jpg Size: 108 KB
  • #242
  • Edited Jan 31, 2015 12:00pm Jan 30, 2015 10:26pm | Edited Jan 31, 2015 12:00pm
I am not a big fan of EMA crosses for trade reversal as there are very few profitable outcomes in the long term. You should be looking at TP and SL as with the set file I sent you.

A better way of looking at what you were talking about, would be for a RSI cross to be the trade reversal, filtered by an EMA cross within the last 20 bars.

Here are the correct inputs for that. I couldn't quite fit it in but RSIMaxBarsAgo=1. Also note EMACrossMaxBarsAgo=20 and TradeClosureMode=1.
Attached Image (click to enlarge)
Click to Enlarge Name: Inputs2.jpg Size: 130 KB
  • #243
  • Jan 31, 2015 2:53am Jan 31, 2015 2:53am
Hi Sir Dave
i hope u will be fine
Sir i want close trade at ema cross...
for example if a buy order open according to ema cross that order must close on again ema cross at nagetive direction..
waiting ur reply sir
  • #244
  • Jan 31, 2015 7:56am Jan 31, 2015 7:56am
Dear Dave ,

After 8 hours of back testing tried many combinations and read more than 20 times the help PDF file but still nothing .

Continuous Straddle seems promising so far but there is a need of lot multiplier in my opinion . Setting let say R:R 2:1 and a multiplier about 1.5 or R:R 3:1 and multiplier 1.2 could turn it in more profitable but of course and the risks will be slightly increased but withdrawing some gains on regular basis could stand for long term.


Will continue tomorrow testing.
  • #245
  • Edited 1:04pm Jan 31, 2015 11:17am | Edited 1:04pm
Quoting alex8585
Dear Dave , After 8 hours of back testing tried many combinations and read more than 20 times the help PDF file but still nothing . Continuous Straddle seems promising so far but there is a need of lot multiplier in my opinion . Setting let say R:R 2:1 and a multiplier about 1.5 or R:R 3:1 and multiplier 1.2 could turn it in more profitable but of course and the risks will be slightly increased but withdrawing some gains on regular basis could stand for long term. Will continue tomorrow testing.
In your previous posts, you predominately mentioned Price and/or EMA cross and STOC. I would have to agree with your comments regarding any sort of back test holding up with these combinations. In fact any type of optimization using EMA's as the primary strategy will fall over on its own. My experience is that RSI is one of the most reliable indicators.

Like you mention in your post, looking at R:R ratios and on optimizations, rejecting the most profitable combinations if the R:R ratio is less than 1. Not a big fan of trade reversals of any type and prefer to use SL and TP (with good R:R) and looking at drawdown percentages less than 10%. You can reduce drawdown by filtering, particularly ADX, moving SL to breakeven.

Ultimately the most significant factors in forex trading are money management and emotion. The EA excels at both these factors. Unfortunately I have seen very little constructive input regarding money management. I have introduced SL being based on ATR + multiple. You may care to explore optimization on that basis. Another option is restricting the trading envelope away from news events, say between 0900 and 1200 UTC only, using straddle trades during news events.

To summarise, let go of EMA's. If you need them, just use them as filters. If you could give some input on your lot multiplier ideas, it may start a money management dialog.

For your interest, the top performers in the last week from the strategies I have on forward test are the same 2 currency pairs with Thursday being the best trading day on both (All lots at 2% of equity)

Continuous Straddle with Breakeven Filter
USD/CHF 2.4% A$240 116 pips
USD/CAD 1.8% A$180 104 pips

RSI with Breakeven Filter
USD/CAD 4.8% A$479 246 pips
USD/CHF 1.6% A$159 66 pips
Attached File(s)
File Type: zip Profitable Sets Last Week.zip   11 KB | 343 downloads
  • #246
  • Jan 31, 2015 1:33pm Jan 31, 2015 1:33pm
Quoting Dave_C
{quote} In your previous posts, you predominately mentioned Price and/or EMA cross and STOC. I would have to agree with your comments regarding any sort of back test holding up with these combinations. In fact any type of optimization using EMA's as the primary strategy will fall over on its own. My experience is that RSI is one of the most reliable indicators. I am not a big fan of trade reversals of any type. Like you mention in your post, I am always looking for R:R ratios and on most of my optimizations, I will reject the most profitable combinations...
Dear Dave ,

As i can see we are on the same side of and that is great. (English is not my native language sorry if something not explained correctly).

From the testing (according to my history data) with the continuous straddle i have not seen 12 consecutive loses and that is the good point.
If we set a straddle with let's say 50 SL and TP 100 and a lot multiplier 1.5 after every order that is hit the SL we have great chance to stay in profit. But if TP is hit it starts over again (it may seem relative to martingale BUT it is not because martin requires adding to losing position without setting any stop loss and we gonna not satisfy any of that conditions). We gonna take just advantage the statistics in our favor. BELIEVE this is totally tested on really account and i am completely sure about every word that i am saying. Most people will say what i am doing here and my answer is that i look to automate it not totally in order to reduce the hours in front of the monitor.

Now what you have mentioned about EMAs i will not agree with that because i know exactly what i am talking about. I never trade trend reversals . I use EMA only for trend direction nothing else none of the trades are based on any EMA. The only thing that EMA determines for me is in which direction to trade nothing more.
Then comes stoc in play for detecting the retracement in the counter trend direction i am quite sure that you realize what i am describing here , but i will show it an example.
Let's say price is below 50 EMA on a daily chart (so there will be only SELL orders , none of buy). Now that we know in which direction we gonna trade we look for the best possible entry. I choose to use stoc , so i wait for it to be in the overbought zone and there is where i sell setting at least R:R 2:1. if me SL is hit i just increase my lot from a range of 1.2 - 1.5 depending on R:R of the next trade because if the next trade has potential for a R:R 3:1 no need to increase you lot by 1.5 instead of 1.2 which will reduce your risk.

Finally for the fine tuning the entries i also use renko bars and because i can avoid ranging markets. But as soon as you are not interested in this part of the strategie i won't describe it further of course if you change your mind let me know.

I hope i gave you as detailed as possible descriptions if you need to send you any charts with explanations let me know.
Wishing you all the goods my friend because in the FOREX jungle it is good to have some friends.
  • #247
  • Jan 31, 2015 5:06pm Jan 31, 2015 5:06pm
Quoting alex8585
{quote} Dear Dave , As i can see we are on the same side of and that is great. (English is not my native language sorry if something not explained correctly). From the testing (according to my history data) with the continuous straddle i have not seen 12 consecutive loses and that is the good point. If we set a straddle with let's say 50 SL and TP 100 and a lot multiplier 1.5 after every order that is hit the SL we have great chance to stay in profit. But if TP is hit it starts over again (it may seem relative to martingale BUT it is not because...
Alex, please check PM.
  • #248
  • Edited Feb 1, 2015 4:59am Jan 31, 2015 6:38pm | Edited Feb 1, 2015 4:59am
Quoting alex8585
{quote} Dear Dave , As i can see we are on the same side of and that is great. (English is not my native language sorry if something not explained correctly). From the testing (according to my history data) with the continuous straddle i have not seen 12 consecutive loses and that is the good point. If we set a straddle with let's say 50 SL and TP 100 and a lot multiplier 1.5 after every order that is hit the SL we have great chance to stay in profit. But if TP is hit it starts over again (it may seem relative to martingale BUT it is not because...
Regarding this matter, my next build will include changes to incorporate this concept. The Stop Loss will automatically include a provision to raise the size of the wager, by the StopLossMultiplier if the previous trade was a losing trade. I have capped the size of the Wager at 20% of equity risk with a StopLoss of 50. This would allow a losing sequence of 12 trades with a multiplier of 1.2 and is not a martingdale system since the multiplier would have to be 2 and there would be no cap. I would suggest a maximum multiplier of 1.2 but you can optimize that figure, Obviously the closer to 1, the greater the tolerance for number of losing trades. At then end of the losing cycle, your losses will only be partly recovered in the next trade with longer progressions.

For this to occur, the trigger is StopLossATRPeriods = 0 and StopLossMultiplier > 0.

Edit: The RiskReward ratio can be set by the TakeProfitMultiplier in a similar way the StopLossMultiplier is set. So if your StopLoss is 50, TakeProfitATRPeriods = 0 and TakeProfitMultiplier=2, the TakeProfit will automatically be 100.

You can optimize the StopLoss, StopLossMultiplier, TakeProfitMultiplier, SetStopLossToBreakevenPips and ContinuousStraddleBuffer. I am waiting for the markets to open tomorrow, so I can test the information items in Post #237 for the next build.

Enclosed is a sample equity Graph with the relevant inputs + ContinuousStraddleBuffer=10. Wait until I upload tomorrow before you test.
Attached Image (click to enlarge)
Click to Enlarge Name: TG_AUD_1_Cont_Straddle_SLMultiplier_TWMultiplier_BreakEvenFilter.jpg Size: 142 KB
Attached Image
  • #249
  • Jan 31, 2015 11:22pm Jan 31, 2015 11:22pm
Dave,
Do share the set file for the above mentioned strategy when you are through with your work on this. We would also like to use it on demo and test it.
  • #250
  • Feb 1, 2015 5:35am Feb 1, 2015 5:35am
Quoting Dave_C
{quote} Regarding this matter, my next build will include changes to incorporate this concept. The Stop Loss will automatically include a provision to raise the size of the wager, by the StopLossMultiplier if the previous trade was a losing trade. I have capped the size of the Wager at 20% of equity risk with a StopLoss of 50. This would allow a losing sequence of 12 trades with a multiplier of 1.2 and is not a martingdale system since the multiplier would have to be 2 and there would be no cap. I would suggest a maximum multiplier of 1.2 but you...
Dave check you mail and PM .
  • #251
  • Edited Feb 2, 2015 2:31am Feb 1, 2015 5:18pm | Edited Feb 2, 2015 2:31am
I have just released a new build for the EA which includes a number of enhancements

1. Information panel on the EA is now displayed on the top left hand corner of the chart.
2. An option to increase the lot size automatically after losing trades. - use StopLossMultiplier as the value (with StopLossATRPeriods=0) See Post #248
3. An option to set the risk:reward ratio automatically- use TakeProfitMultiplier as the value (with TakeProfitATRPeriods=0)

A set file using these new parameters (from Post #248) is enclosed. Rename to .set

Download at Post #1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Inputs.jpg Size: 273 KB
Click to Enlarge Name: Inputs2.jpg Size: 270 KB
Attached File(s)
File Type: txt TG_AUD_1_2014_ContStraddle_SLMultiplier_TWMultiplier_BreakEvenFilter.txt   12 KB | 250 downloads
  • #252
  • Feb 1, 2015 11:23pm Feb 1, 2015 11:23pm
Quoting Dave_C
I have just released a new build for the EA which includes a number of enhancements 1. Information panel on the EA is now displayed on the top left hand corner of the chart. 2. An option to increase the lot size automatically after losing trades. - use StopLossMultiplier as the value (with StopLossATRPeriods=0) See Post #248 3. An option to set the risk:reward ratio automatically- use TakeProfitMultiplier as the value (with TakeProfitATRPeriods=0) A set file using these...
Please download the EA again if you have already downloaded today. (Adjustment of Lot sizes)
  • #253
  • Feb 2, 2015 8:35am Feb 2, 2015 8:35am
Quoting Dave_C
{quote} In your previous posts, you predominately mentioned Price and/or EMA cross and STOC. I would have to agree with your comments regarding any sort of back test holding up with these combinations. In fact any type of optimization using EMA's as the primary strategy will fall over on its own. My experience is that RSI is one of the most reliable indicators. Like you mention in your post, looking at R:R ratios and on optimizations, rejecting the most profitable combinations if the R:R ratio is less than 1. Not a big fan of trade reversals of...
please tel time farm both pairs

thank you
advance
  • #254
  • Edited 9:46am Feb 2, 2015 9:03am | Edited 9:46am
Dave,

Very happy with the new build! (i am glad that idea is helpful to you, sorry i didn't get to the input sooner).

Using PSAR with ADX

Very nice trading the last few days trading this is microlots

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB


Much appreciated
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  • #255
  • Feb 2, 2015 9:53am Feb 2, 2015 9:53am
Quoting rkkgs
{quote} please tel time farm both pairs thank you advance
Everything should be on the M15 time frame but it will work on all TF's
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  • #256
  • Feb 2, 2015 11:22am Feb 2, 2015 11:22am
Hi Dave,
could you please make an EA which would look through all open positions and would close them when exact AMOUNT of SL / PL PIPS is hit (manual input in popup)
i.e. closes position when StopLoss is set to 150
closes position when TakeProfit is set to 250

I quickly looked around, but, unfortunately, did not found such piece.
If it's already there please share where i could find it. THANKS !


Green pips to you all !
  • #257
  • Feb 2, 2015 11:47am Feb 2, 2015 11:47am
Quoting 01donatas
Hi Dave, could you please make an EA which would look through all open positions and would close them when exact AMOUNT of SL / PL PIPS is hit (manual input in popup) i.e. closes position when StopLoss is set to 150 closes position when TakeProfit is set to 250 I quickly looked around, but, unfortunately, did not found such piece. If it's already there please share where i could find it. THANKS ! Green pips to you all !
I am even trying to understand the question, you are looking for a PIP counter? From all of Dave's hardwork on this EA you might want to just go with opening a EU chart, placing a trade and adding an SL and TP to it?

this thread is for the TradersGift EA not for opening up new EA's.
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  • #258
  • Feb 2, 2015 11:59am Feb 2, 2015 11:59am
Very ambitious, very interesting, obviously a lot of work went into this.
Open to new approaches.
  • #259
  • Feb 2, 2015 12:05pm Feb 2, 2015 12:05pm
I have to open MANY positions and setting SL or TP manually is pain in the ass. Automated CLOSE when negative or positive amounts of pips are reached would be VERY helpful. That's why i posted here.

sorry if i violated this thread's rules. Just thought opening new thread is not worth it.


Donatas
  • #260
  • Feb 2, 2015 12:24pm Feb 2, 2015 12:24pm
Quoting 01donatas
I have to open MANY positions and setting SL or TP manually is pain in the ass. Automated CLOSE when negative or positive amounts of pips are reached would be VERY helpful. That's why i posted here. sorry if i violated this thread's rules. Just thought opening new thread is not worth it. Donatas
Donatas, no harm on this just was unsure of what you were wanting to do. That EA sounds dangerous if there are no parameters but i do not know sorry.

Good luck with that.

max
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