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Trap Breaker

  • #1
  • First Post: Edited May 25, 2015 3:55pm May 24, 2015 3:38am | Edited May 25, 2015 3:55pm

[[[[ Trap Breaker ]]]]




Trap Breaker broke out of the Lab, into this thread which will be a continuation of the

Trap Breaker System introduced in Robot Lab Project on January, 2015.

This will allow for more freedom and concentration of development of this robot.


New in this thread:

  1. First Trade in the batch decided by user by placing one Buy Stop and one Sell Stop orders around a range.
  2. Built-in Range Detection for Full Auto Trading.


Range Detective Indicator Version 1

Attached File(s)
File Type: ex4 Range_Detective.ex4   10 KB | 2,065 downloads


Range Detective Indicator Version 2 : Range_Detective_2

More to come ...
No guts, no glory
  • #2
  • May 24, 2015 5:44am May 24, 2015 5:44am
I tried dragging the indy onto my chart, but I'm not seeing anything.
  • #3
  • May 24, 2015 6:17am May 24, 2015 6:17am
Quoting ChicagoRob
I tried dragging the indy onto my chart, but I'm not seeing anything.
Range_Detective Inputs :

- Range Bars : Minimum Number of Bars (candles) to check for the Range Points (or Pips depending on broker digits)
- Range Points : Max Number of Points (Or pips) to consider a range
- History Bars : Number of bars to go back in history. You need to scroll up in the chart to retrieve history that covers the number of history bars used in input.
- We don't need History Bars for live trading/forward testing, it is used only to check ranges in history for testing.

Example GU M5 Chart

Attached Image (click to enlarge)
Click to Enlarge Name: range_det.png Size: 75 KB
No guts, no glory
  • #4
  • May 24, 2015 6:30am May 24, 2015 6:30am
The Range_Detective Indicator will not be used in the Trap Breaker Robot but the concept will be built in the Robot itself. I just made the indicator for visual understanding of the idea.

The problem with Trap Breaker is that it can ruin the account if it stuck between inner and outer traps for too long bouncing up and down before reaching the ultimate profit taking at the outer trap break.

By implementing the range break to initiate the Inner Trap we will have variable size traps, unlike the old version which had fixed sized traps. Hence we can minimize the number of bounces between inner and outer traps.
No guts, no glory
  • #5
  • Edited 9:00am May 24, 2015 7:55am | Edited 9:00am
So what is the problem with normal range break out and why do we need a trap

The problem is that we have so many false break outs

The other important reason is that we are LAZY

We either don't want to bather with TA/FA, or we simply don't understand it, or we don't trust our judgment,
Or we simply don't accept the loss
No guts, no glory
  • #6
  • May 24, 2015 8:10am May 24, 2015 8:10am
There are many ways to trade range breakout (or even false break out). For example:

 

  1. Buy Stop y pips above the range with SL z pips below the range top + Sell Stop y pips below the range with SL z pips above the range bottom, where y less than the range pips, and z < range bottom/top , both with TP = 2 x the range pips
  2. Buy Limit on a retest of range top with SL just below the range bottom, or Sell Limit on a retest of range bottom with SL just above the range top, both with TP 2 x the range size


Trap Breaker - Original: hated to loose on false breakouts, so it was opening a recovery trade whenever an assumed SL would hit.

This of course involve HEDGING and MARTINGALE

Although Martingale was not exact doubling (in fact much less depeding on profit target and trap sizes), Still its TOO DANGEROUS

No guts, no glory
  • #7
  • May 24, 2015 8:36am May 24, 2015 8:36am
This is how the original Trap Breaker was working :

Attached Image (click to enlarge)
Click to Enlarge Name: Trap_Breaker_01.png Size: 82 KB
No guts, no glory
  • #8
  • May 24, 2015 8:38am May 24, 2015 8:38am
Will Range detection and entry only after a break out reduce the Risk, we'll see. It will trade less of course, but safer I think.
Should we include options not to hedge or martingale and use other methods of breakout, possible.
No guts, no glory
  • #9
  • May 24, 2015 12:16pm May 24, 2015 12:16pm
OMG Hedging & Martingale

But nice share! Thank you
  • #10
  • May 24, 2015 12:29pm May 24, 2015 12:29pm
Quoting abokwaik
[[[[ Trap Breaker ]]]] Trap Breaker broke out of the Lab, into this thread which will be a continuation of the Trap Breaker System introduced in Robot Lab Project on January, 2015. This will allow for more freedom and concentration of development of this robot. New in this thread: First Trade in the batch decided by user by placing one Buy Stop and one Sell Stop orders around a range. Built-in Range Detection for Full Auto Trading. Range Detective Indicator {file} More...
  • #11
  • May 24, 2015 12:34pm May 24, 2015 12:34pm
Quoting abokwaik
The problem with Trap Breaker is that it can ruin the account if it stuck between inner and outer traps for too long bouncing up and down before reaching the ultimate profit taking at the outer trap break.
The Trap-breaker concept is inherently not a trading system on its own. its best suited for entries, trade management and recoveries.
  • #12
  • May 24, 2015 12:47pm May 24, 2015 12:47pm
Quoting abokwaik
Should we include options not to hedge or martingale and use other methods of breakout, possible.
Maintain the hedging options pls. Thank you.
  • #13
  • May 24, 2015 12:51pm May 24, 2015 12:51pm
Quoting abokwaik
Will Range detection and entry only after a break out reduce the Risk, we'll see. It will trade less of course, but safer I think. Should we include options not to hedge or martingale and use other methods of breakout, possible.
Hello abokwaik,
nice that you are back again.....please keep on your good work here......
Have a nice day
  • #14
  • May 24, 2015 1:19pm May 24, 2015 1:19pm
Hello A.,
loaded the indi but attaching it to the chart doesn`t work.
This is what journal says:
2015.05.24 20:15:01.597 Custom indicator Range_Detective AUDJPY,Daily: removed
2015.05.24 20:14:53.300 Custom indicator Range_Detective AUDJPY,Daily: loaded successfully
2015.05.24 20:14:24.097 Custom indicator Range_Detective EURUSD,Daily: removed
2015.05.24 20:14:20.331 Custom indicator Range_Detective EURUSD,Daily: loaded successfully
2015.05.24 20:14:10.878 Custom indicator Range_Detective EURUSD,Daily: removed
2015.05.24 20:13:55.816 Custom indicator Range_Detective EURUSD,Daily: loaded successfully
Have a nice day
  • #15
  • May 25, 2015 12:53am May 25, 2015 12:53am
You have not enough history. Set history bars in the indi to 0 or maximum of how many bars do you have in the mt4 history.

Quoting doerpn
Hello A., loaded the indi but attaching it to the chart doesn`t work. This is what journal says: 2015.05.24 20:15:01.597 Custom indicator Range_Detective AUDJPY,Daily: removed 2015.05.24 20:14:53.300 Custom indicator Range_Detective AUDJPY,Daily: loaded successfully 2015.05.24 20:14:24.097 Custom indicator Range_Detective EURUSD,Daily: removed 2015.05.24 20:14:20.331 Custom indicator Range_Detective EURUSD,Daily: loaded successfully 2015.05.24 20:14:10.878 Custom indicator Range_Detective EURUSD,Daily: removed 2015.05.24 20:13:55.816 Custom indicator...
  • #16
  • May 25, 2015 1:36am May 25, 2015 1:36am
Can I change color of rectangle? If not can You make it custom?
The Market pays you to be disciplined
  • #17
  • Edited 7:26am May 25, 2015 7:13am | Edited 7:26am
Quoting mima
Can I change color of rectangle? If not can You make it custom?
Hi mima,

I've tried that earlier but unfortunately it didn't work, I will double check it.

I see good number of downloads for the indicator, which was provided only for visualizing and NOT to be used on its own,
but I think it can be used outside the Trap Breaker System,
SO I am going to invest more time on this indicator and make it more useful
(i.e. extends with ranges, Sound Alerts when a range is broken ... etc).
No guts, no glory
  • #18
  • May 25, 2015 2:40pm May 25, 2015 2:40pm
Quoting mcomsa
You have not enough history. Set history bars in the indi to 0 or maximum of how many bars do you have in the mt4 history. {quote}
thanks mcomsa, works fine now.....
Have a nice day
  • #19
  • May 25, 2015 2:42pm May 25, 2015 2:42pm
Quoting abokwaik
{quote} Hi mima, I've tried that earlier but unfortunately it didn't work, I will double check it. I see good number of downloads for the indicator, which was provided only for visualizing and NOT to be used on its own, but I think it can be used outside the Trap Breaker System, SO I am going to invest more time on this indicator and make it more useful (i.e. extends with ranges, Sound Alerts when a range is broken ... etc).
As my charts have a black background I changed colour to blue....works fine.
Have a nice day
  • #20
  • May 25, 2015 2:57pm May 25, 2015 2:57pm
Quoting abokwaik
{quote} Hi mima, I've tried that earlier but unfortunately it didn't work, I will double check it. I see good number of downloads for the indicator, which was provided only for visualizing and NOT to be used on its own, but I think it can be used outside the Trap Breaker System, SO I am going to invest more time on this indicator and make it more useful (i.e. extends with ranges, Sound Alerts when a range is broken ... etc).
Hello A.,
when optimizing this indi perhaps its possible to show the prices of high and low of the range?
Thanks.
Have a nice day
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