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My EA Gift to Traders

  • #701
  • Mar 1, 2015 1:14pm Mar 1, 2015 1:14pm
Quoting Dave_C
{quote} The help file explains this in full detail. I thought you would have caught on by my previous detailed explanation. Exasperation!!!!!!
When I use the settings you recommended, the EA works for a time...

Until it takes a trade at a level to which price does not return. The attached image of the GBPUSD hourly chart shows what I mean. The EA was set to begin trading the PriceEMAEvent on Jan 27. It took 3 trades. The third trade, indicated by the red arrow, was a sell. Price dipped down a few pips below the entry and then took off north. The red line shows the level of the entry. Price has not returned to this level and the trade has never closed.

My set file is attached with the settings you recommended.
Attached Image (click to enlarge)
Click to Enlarge Name: ATR_issue.png Size: 61 KB
Attached File(s)
File Type: txt ATR_Stop and TP.txt   13 KB | 197 downloads
  • #702
  • Edited Mar 2, 2015 12:34am Mar 1, 2015 2:06pm | Edited Mar 2, 2015 12:34am
Quoting alex8585
Dave , This one set file that i managed to get thanks to your advises on optimization. Here i believe it is time to let the EA to run live to see how it does in real market. One thing i want to ask you even if it is considered as a favor . Is there big difficulties to make trailing stop adjustable and for testing and for live trading so we can set it after how many pips to be activated and after how many pips to move the stop. It will be much appreciated. {image} {file}
Regarding the activation point, the SetStopLossToBreakEven should cover that scenario because it is the overrider. Regarding the rate of decrease, the percentage is only adjusted after every 5% move in profit (which is fixed), but the amount of movement is your call.
  • #703
  • Mar 1, 2015 2:12pm Mar 1, 2015 2:12pm
Quoting drofwarc
{quote} When I use the settings you recommended, the EA works for a time... Until it takes a trade at a level to which price does not return. The attached image of the GBPUSD hourly chart shows what I mean. The EA was set to begin trading the PriceEMAEvent on Jan 27. It took 3 trades. The third trade, indicated by the red arrow, was a sell. Price dipped down a few pips below the entry and then took off north. The red line shows the level of the entry. Price has not returned to this level and the trade has never closed. My set file is attached with...
That is because you have not set any StopLoss details.
Attached Image
  • #704
  • Mar 1, 2015 2:36pm Mar 1, 2015 2:36pm
Thanks Dave. It's working for me now.

By the way, I see you've changed your earlier post to supply the information I was looking for with respect to setting the ATR stop. Your original reply in the post didn't provide this info, which led to me asking for further help. I appreciate you get exasperated, but do know that I'm trying to figure things out on my own.

Kind regards,
drofwarc
  • #705
  • Edited 3:00pm Mar 1, 2015 2:46pm | Edited 3:00pm
Quoting drofwarc
Thanks Dave. It's working for me now. By the way, I see you've changed your earlier post to supply the information I was looking for with respect to setting the ATR stop. Your original reply in the post didn't provide this info, which led to me asking for further help. I appreciate you get exasperated, but do know that I'm trying to figure things out on my own. Kind regards, drofwarc
I take your point. I really only removed the word exasperated. Your must understand that the answer was so logical, because I had gone into detail about how to set take win.

It was just like your last question where the info panel right in front of you on the chart conveyed that you had not set stop loss. When you have to deal with the number of PM's that I get on a daily basis, the majority of which are really simple questions which relate to lack of homework, you would get exasperated also.

EDIT I can see that the following statement may have been misguiding. The "only" related to not having to set a specific TakeProfit value.
"You need to set TakeProfitATRPeriods and TakeProfitMultiplier only"
  • #706
  • Mar 1, 2015 3:02pm Mar 1, 2015 3:02pm
In my defense, it wasn't logical to me as I've never before used ATR for stops or take profit, but I realize that doesn't help you. Thanks again for your time.

Edit: Yes, it was the word "only" that threw me as I thought it meant I didn't need to set any stop parameters. Thanks for noting that.
  • #707
  • Mar 1, 2015 3:20pm Mar 1, 2015 3:20pm
To help ensure nobody else needs to bother Dave here or by PM about how to use the ATR stop and TP settings, here's an image showing both the ATR stop and ATR TP enabled.
Attached Image (click to enlarge)
Click to Enlarge Name: ATR_Stop_and_TP.png Size: 22 KB
  • #708
  • Mar 1, 2015 3:27pm Mar 1, 2015 3:27pm
Quoting drofwarc
In my defense, it wasn't logical to me as I've never before used ATR for stops or take profit, but I realize that doesn't help you. Thanks again for your time. Edit: Yes, it was the word "only" that threw me as I thought it meant I didn't need to set any stop parameters. Thanks for noting that.
If you just want to use the TP and SL multipliers on their own (without the ATR periods), they assume a different function.

They then take on the money management functions initially discussed in Post #237 together with an ongoing dialog.

That is the StopLossMultiplier serves as a multiple for increasing wagers where the previous result is below the MinPipGain and the TakeProfitMultiplier serves as a Risk:Reward multiple, for example, a multiple of 2 represents a TakeProfit of 100 for a StopLoss of 50.
  • #709
  • Mar 1, 2015 3:50pm Mar 1, 2015 3:50pm
Hi Dave,

With that behind us, I'd like to bring up another idea for extending the capabilities of the EA and, hopefully, improving results. The EA currently has numerous entry options, but only 2 stop options (a specific number of pips or a stop based on ATR).

There are a number of other formulas for calculating stops that I, for one, would like to experiment with. What would you think of adding a few more stop options, such as the Chandelier exit? I could provide some formulas if you don't have them.

Over to you for your consideration.

Kind regards,
drofwarc
  • #710
  • Mar 1, 2015 3:56pm Mar 1, 2015 3:56pm
Quoting drofwarc
Hi Dave, With that behind us, I'd like to bring up another idea for extending the capabilities of the EA and, hopefully, improving results. The EA currently has numerous entry options, but only 2 stop options (a specific number of pips or a stop based on ATR). There are a number of other formulas for calculating stops that I, for one, would like to experiment with. What would you think of adding a few more stop options, such as the Chandelier exit? I could provide some formulas if you don't have them. Over to you for your consideration. Kind regards,...
I'll Google it and get back to you.

EDIT: just set your StopLossATRPeriods to 22 and your StopLossMultiplier to 3 (or whatever settings you need) and let the trailing stop loss do it's work.
  • #711
  • Mar 1, 2015 3:59pm Mar 1, 2015 3:59pm
Quoting Dave_C
{quote} I'll Google it and get back to you.
Here's a link to the Chandelier exit and some variations:

http://www.incrediblecharts.com/indi...lier_exits.php
  • #712
  • Mar 1, 2015 4:09pm Mar 1, 2015 4:09pm
Quoting Dave_C
{quote} I'll Google it and get back to you. EDIT: just set your StopLossATRPeriods to 22 and your StopLossMultiplier to 3 (or whatever settings you need) and let the trailing stop loss do it's work.
Does your code incorporate the highest high and lowest low as in the following (which is found at the link in my earlier post)?

Chandelier Exits subtract a multiple of Average True Range ("ATR") from the highest high for the selected period. Using the default settings as an example:
Highest High in last 22 days - 3 * ATR for 22 days
In a down-trend the formula is reversed:
Lowest Low in last 22 days + 3 * ATR for 22 days

I've looked at your code and it doesn't seem that it does.
  • #713
  • Mar 1, 2015 4:10pm Mar 1, 2015 4:10pm
Quoting drofwarc
{quote} Here's a link to the Chandelier exit and some variations: http://www.incrediblecharts.com/indi...lier_exits.php
It's just a trailing stop loss which has always been in the EA. The entry is in ATR and PriceEMA mode 2.
  • #714
  • Mar 1, 2015 4:16pm Mar 1, 2015 4:16pm
Quoting drofwarc
{quote} Does your code incorporate the highest high and lowest low as in the following (which is found at the link in my earlier post)? Chandelier Exits subtract a multiple of Average True Range ("ATR") from the highest high for the selected period. Using the default settings as an example: Highest High in last 22 days - 3 * ATR for 22 days In a down-trend the formula is reversed: Lowest Low in last 22 days + 3 * ATR for 22 days I've looked at your code and it doesn't...
That's what ATR does. The trailing stop follows the price.

From Post #710
StopLossATRPeriods to 22 and your StopLossMultiplier to 3 (or whatever settings you need) and let the trailing stop loss do it's work
  • #715
  • Mar 1, 2015 4:29pm Mar 1, 2015 4:29pm
Quoting Dave_C
{quote} That's what ATR does. The trailing stop follows the price. From Post #710 StopLossATRPeriods to 22 and your StopLossMultiplier to 3 (or whatever settings you need) and let the trailing stop loss do it's work
Are you not using the bid and the ask while the Chandelier exit uses highest high/lowest low values?

if (StopLossATRPeriods != 0) StopLossPrice = Bid - (iATR(Symbol(),0,StopLossATRPeriods,0)* StopLossMultiplier);
if (StopLossATRPeriods != 0) StopLossPrice = Ask + (iATR(Symbol(),0,StopLossATRPeriods,0)* StopLossMultiplier);
  • #716
  • Mar 1, 2015 4:48pm Mar 1, 2015 4:48pm
Quoting drofwarc
{quote} Are you not using the bid and the ask while the Chandelier exit uses highest high/lowest low values? if (StopLossATRPeriods != 0) StopLossPrice = Bid - (iATR(Symbol(),0,StopLossATRPeriods,0)* StopLossMultiplier); if (StopLossATRPeriods != 0) StopLossPrice = Ask + (iATR(Symbol(),0,StopLossATRPeriods,0)* StopLossMultiplier);
The Bid and Ask reflect the highest high and the lowest low because that code is running on every tick so that the moment a new profit level is reached (done in 5% increments to avoid excessive amendments), the trailing stop loss is adjusted. (the only difference being that the spread is being taken into account for the difference between Bid and Ask). I suggest you look at the definition of a trailing stop.
  • #717
  • Mar 1, 2015 5:07pm Mar 1, 2015 5:07pm
Quoting Dave_C
{quote} The Bid and Ask reflect the highest high and the lowest low because that code is running on every tick so that the moment a new profit level is reached (done in 5% increments to avoid excessive amendments), the trailing stop loss is adjusted. (the only difference being that the spread is being taken into account for the difference between Bid and Ask). I suggest you look at the definition of a trailing stop.
Chandelier exits use the highest high or lowest of the last n periods; Your code uses the current price.

In any case, there are two other ATR-based stoploss formulas presented at the URL. Your code can't be identical to all of them.
  • #718
  • Mar 1, 2015 5:12pm Mar 1, 2015 5:12pm
Quoting drofwarc
{quote} Chandelier exits use the highest high or lowest of the last n periods; Your code uses the current price. In any case, there are two other ATR-based stoploss formulas presented at the URL. Your code can't be identical to all of them.
You can't get any more accurate than every tick. Every ATR criteria can be dealt with. I think we need to move on and if the code doesn't suit your agenda then you can alter it!
  • #719
  • Mar 1, 2015 5:37pm Mar 1, 2015 5:37pm
Quoting Dave_C
{quote} You can't get any more accurate than every tick. Every ATR criteria can be dealt with. I think we need to move on and if the code doesn't suit your agenda then you can alter it!
Fair enough. Thanks for your time.
  • #720
  • Mar 2, 2015 12:52am Mar 2, 2015 12:52am
Quoting drofwarc
{quote} Fair enough. Thanks for your time.
If you want to recalculate the value of the StopLoss again at OrderModify, just insert the following two lines at line 1395.

if (OrderType() == OP_BUY && StopLossATRPeriods != 0 && UseTrailingStopLoss == 1) StopLossPrice = Bid - (iATR(Symbol(),0,StopLossATRPeriods,0)* StopLossMultiplier);

if (OrderType() == OP_SELL && StopLossATRPeriods != 0 && UseTrailingStopLoss == 1) StopLossPrice = Ask + (iATR(Symbol(),0,StopLossATRPeriods,0)* StopLossMultiplier);
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