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Attachments: Need4Speed Scalping
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Need4Speed Scalping

  • #1
  • First Post: Edited Jun 24, 2015 6:09am Apr 23, 2015 3:55pm | Edited Jun 24, 2015 6:09am

Attached Image



Need4Speed is an intrad-day Scalping System.

It measures Speed of the Price in Points over a user specified time interval in Seconds.
Sounds can be activated to alert when Maximum Speed is exceeded.
The system counts and plots the number of Bullish and/or Bearish impulses that exceeded max speed in each bar.

Check Post 435 for a summary of terms used in this thread.

Entry Options:

  1. Least Risky :

    1. Long when having more Bullish Impulses in a Bearish Bar (Hidden Buying)
    2. Short when having more Bearish Impulses in a Bullish Bar (Hidden Selling)


  2. Aggressive :

    1. Long on first Bullish Impulse
    2. Short on first Bearish Impulse


  3. Pending Orders

    1. ​​Buy Stop at High break of the bar with high number of Bullish and Bearish Impulses.
    2. ​​Sell Stop at Low break of the bar with high number of Bullish and Bearish Impulses.


  4. Supported Entry:

    1. Long when having more Bullish Impulses in a Bullish Bar (Exposed Buying)
    2. Short when having more Bearish Impulses in a Bearish Bar (Exposed Selling)



Exit Options:

  1. Fixed SL/TP using Fixed R:R ratio
  2. SL at last low/high and TP by a trailing stop
  3. Trailing Stop
  4. Opposite Signal

Lot Size:

  1. Fixed
  2. Variable and calculated based on a risk percentage and SL

Pairs/Time Frames:

  1. I prefer low spread liquid pairs (EURUSD,USDJPY,GBPUSD...)
  2. Lower Time Frames (M1,M5,M15)
  3. Higher Time Frames as Entry Filters

Sessions :

  1. London (7:00 to 16:00 GMT)

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5xxx.png Size: 52 KB


First version of this EA is attached for you to test. No trades are taken by the EA in this version.
Attached File(s)
File Type: ex4 N4S_01.ex4   11 KB | 4,007 downloads


Versions Control:
1. Basic Version (Signal Only) attached to this post
2. Enhanced Basic Version N4S_02
3. Version 3 with Fast Trading Buttons N4S_03
4. Basic Auto Version N4S_03_Auto
5. Basic Auto Version Contrarian N4S_03_Auto_Contra
6. Version 3 Display Fix N4S_Auto_03_1
7. Version 4 with more options N4S_04
8. Source Code (MQL) N4S_04.mq4
9. Indicator for Manual Trading n4s_indy_01
10. Version 5 : N4S_05
11. Turbo Version 1 for news trading: N4S_Turbo_01
12. Need4Speed Histogram Indicator : N4S_Histogram
13. Version 5 MQL Source : N4S_05.mq4

Buckle Up, Engine Start, Go ....,

Khalil Abokwaik
No guts, no glory
  • #2
  • Apr 23, 2015 4:11pm Apr 23, 2015 4:11pm
How do we trade it??
Indicator based or do you have an EA running for you?
  • #3
  • Apr 23, 2015 4:16pm Apr 23, 2015 4:16pm
I've tried a ton of these "impulse" EAs, but all of them were unsuccessful on live accounts.
I like the logic behind this and hope your efforts are rewarded with many green pips.
  • #4
  • Apr 23, 2015 4:41pm Apr 23, 2015 4:41pm
Quoting abokwaik
The Pips-Per-Second Scalping System (PPS) - Measures the Speed of Price and Alerts when Maximum Speed is exceeded - Watches and Counts the number of Big (Up and Down) Pushes in each bar - Trades can be taken in the direction of maximum speed We want to join the price movers and jump on the train once it starts accelerating and jump off when it decelerates, North or South. {image} Have a nice weekend, Khalil
sounds fascinating!
  • #5
  • Apr 23, 2015 4:46pm Apr 23, 2015 4:46pm
Quoting LITEchild
{quote} sounds fascinating!
Looks like all you need is Scalp Delight right now.
  • #6
  • Apr 23, 2015 5:05pm Apr 23, 2015 5:05pm
Where is the attached indicator/ea?
  • #7
  • Apr 23, 2015 5:12pm Apr 23, 2015 5:12pm
Quoting ChicagoRob
{quote} Looks like all you need is Scalp Delight right now.
  • #8
  • Apr 24, 2015 1:39am Apr 24, 2015 1:39am
For all the curious about this, you can start watching the Stoch(14,3,3) on 5M charts.
It's not the same, since the Stochastic was designed for Divergences, but it's also a Momentum indicator, so it measures speed .

That being said, you just can start developing your own system.


Kind regards,
MarketFox.
Trade, don't bet.
  • #9
  • Apr 24, 2015 6:35am Apr 24, 2015 6:35am
Testing version of the EA is attached to the 1st post. It goes into Experts folder although it is currently works as an indicator only.
I also changed the thread name to a more s&#&y name
No guts, no glory
  • #10
  • Apr 24, 2015 6:41am Apr 24, 2015 6:41am
Quoting abokwaik
Testing version of the EA is attached to the 1st post. It goes into Experts folder although it is currently works as an indicator only. I also changed the thread name to a more s&#&y name
Sounds pretty damn cool

Will check it and report back if anything noteworthy pops up but already pondering about some scenarios:nerd:
We miss 100% of the shots we don't take
  • #11
  • Apr 24, 2015 6:48am Apr 24, 2015 6:48am
Quoting LITEchild
{quote} sounds fascinating!
Quoting Rooi
{quote} Sounds pretty damn cool Will check it and report back if anything noteworthy pops up but already pondering about some scenarios:nerd:
Hi buddies,

Scalping is not my speciality as you know ... so this is completely a new experience for me
No guts, no glory
  • #12
  • Apr 24, 2015 7:26am Apr 24, 2015 7:26am
Quoting abokwaik
{quote} {quote}so this is completely a new experience for me
Usually the biggest downside to scalping is the stress involved and sheer screen time it demands. It can be extremely profitable if done right, but may cost you too much in terms of time, health, family, friends, etc. That is why not being greedy is so important. 50 - 100pips a day harvested consistently and regularly with reasonable risk and money management is the closest thing to a holy grail I am experiencing! The markets greatest strength and weapon against scalpers trying to grab small pips at a time is volatility and whipsaw. So why not just use that against it? Turn it into it's greatest weakness. Its achilles heels. On the flip side, the scalpers greatest weakness is greed(which also causes overtrading, overleveraging,etc). Why not use that against the market? Learn how to use fear instead! Mind you, this is probably the complete opposite mindset and philosophy needed for swing and longer term trend trading!!!
  • #13
  • Apr 24, 2015 7:29am Apr 24, 2015 7:29am
Max. Speed input varies with each pair. Spread can be used as a guide.

Time input better be 5 seconds or less. The less the better.

Smaller time frames are better M1, M5.

I think some scalpers already know how to utilise such a tool.
No guts, no glory
  • #14
  • Apr 24, 2015 10:22am Apr 24, 2015 10:22am
Quoting abokwaik
Max. Speed input varies with each pair. Spread can be used as a guide. Time input better be 5 seconds or less. The less the better. Smaller time frames are better M1, M5. I think some scalpers already know how to utilise such a tool.
What direction you thinking of going with the EA if I may ask?
We miss 100% of the shots we don't take
  • #15
  • Apr 24, 2015 10:59am Apr 24, 2015 10:59am
Quoting Rooi
{quote} What direction you thinking of going with the EA if I may ask?
Yes Rooi,

A complete system traded through a Robot. With an option of manual trading although it will be difficult.

This is a scalping system where speed is a major factor, a Quick IN & OUT.
Spread will also play a major part in system profitability.

I think best is to use with ECN brokers.

Big lot size, small TP and SL.Traded through London session.

The system can not be back tested. I will start forward testing next week.

Regards
No guts, no glory
  • #16
  • Apr 24, 2015 11:02am Apr 24, 2015 11:02am
Quoting abokwaik
{quote} Yes Rooi, A complete system traded through a Robot. With an option of manual trading although it will be difficult. This is a scalping system where speed is a major factor, a Quick IN & OUT. Spread will also play a major part in system profitability. I think best is to use with ECN brokers. Big lot size, small TP and SL.Traded through London session. The system can not be back tested. I will start forward testing next week. Regards
Sounds good

Good weekend to you sir

Rooi
We miss 100% of the shots we don't take
  • #17
  • Apr 24, 2015 11:25am Apr 24, 2015 11:25am
will put it into test next week

thank for sharing buddy!
  • #18
  • Apr 24, 2015 12:13pm Apr 24, 2015 12:13pm
Quoting ChicagoRob
I've tried a ton of these "impulse" EAs, but all of them were unsuccessful on live accounts. I like the logic behind this and hope your efforts are rewarded with many green pips.
Would you tell us more about your experience CR. Thanks in advance
No guts, no glory
  • #19
  • Edited 3:54pm Apr 24, 2015 3:37pm | Edited 3:54pm
140 Downloads in 8 hours, Good Speed . I hope we can see some input from you guys next week.
No guts, no glory
  • #20
  • Apr 24, 2015 3:55pm Apr 24, 2015 3:55pm
Quoting abokwaik
{quote} Would you tell us more about your experience CR. Thanks in advance
I've experimented with several bots that were based on impulse(large price movements in very short periods of time). Only a couple of them performed well on demo. Unfortunately, they failed when traded on live accounts. I believe the main problems stemmed from latency issues and slippage. Trade execution with these types of EAs has to be perfect,
especially when the take profit is only a few pips.

I would definitely like to try your EA with FXCM, since I've been pretty happy with their executions of late.
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