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My EA Gift to Traders

  • #1,501
  • Jun 7, 2015 4:14am Jun 7, 2015 4:14am
Thanks Dave for discussing Time/day & Straddle strategy.

Please could you throw more light on how the settings for the continuous straddle buffer (continuousStraddleBuffer) will affect or how it works with the Straddle Buffer settingespecially as the buffer setting could vary.

Lets say a Straddle Buffer of 15 have been selected and type selected as indicator cross, if the continuousStraddleBuffer is set at 40 and stochastic is currently the main strategy. A buy signal has been raised at price 1.40000.

Does this mean the straddle strategy will place the following trades

Indicator Straddle
Buy: 1.39850 (-15 pips from signal price)
Sell: 1.40150 (+15 pips from signal price)

continuousStraddle
Buy: 1.39600 (-40 pips from signal price)
Sell: 1.40400 (+40 pips from signal price)

Assuming the price hits the first buy 1.39850 and then hits the second 1.39600, what happens to the first buy trade also will the indicator buy price trade still be triggered?

Also please could you discuss the merits/demerits of such combination and trade pattern where you think they may useful?


Thanks
Collins
  • #1,502
  • Edited 7:11am Jun 7, 2015 6:45am | Edited 7:11am
Quoting rimazuc
Thanks Dave for discussing Time/day & Straddle strategy. Please could you throw more light on how the settings for the continuous straddle buffer (continuousStraddleBuffer) will affect or how it works with the Straddle Buffer settingespecially as the buffer setting could vary. Lets say a Straddle Buffer of 15 have been selected and type selected as indicator cross, if the continuousStraddleBuffer is set at 40 and stochastic is currently the main strategy. A buy signal has been raised at price 1.40000. Does this mean the straddle strategy will place...
Straddle and Continuous Straddle are 2 completely different strategies.

As the name Continuous implies, as soon as one trade is closed due to TP or SL, immediately another straddle trade is placed.

There is no option to nominate the type of straddle for a continuous straddle and the 2 types of straddle cannot be combined. If a Straddle (ie. not a Continuous Straddle) is placed as an Indicator type, in conjunction with the Stochastic strategy, 2 pending trades will be opened at crossing time and a trade will be filled the direction of travel once the buffer has been breached. That is even if the Stochastic indicates a buy signal but the Price keeps falling a sell trade will take place when the price has continued to fall by the Buffer value and the pending Buy will be cancelled.

This type of trade is helpful when there is a strong movement with a small retrace which might otherwise trigger a reversal trade such as what tends to happen after a news event. Another way of trading news events is to place a time straddle after a news event, say 5 minutes after the news (when you do have knowledge of the initial direction of movement) to allow for the possibility that the movement after the event might continue or retrace.
  • #1,503
  • Jun 7, 2015 7:21am Jun 7, 2015 7:21am
Quoting Dave_C
{quote} Straddle and Continuous Straddle are 2 completely different strategies. As the name Continuous implies, as soon as one trade is closed due to TP or SL, immediately another straddle trade is placed. There is no option to nominate the type of straddle for a continuous straddle and the 2 types of straddle cannot be combined. If a Straddle (ie. not a Continuous Straddle) is placed as an Indicator type, in conjunction with the Stochastic strategy, 2 pending trades will be opened at crossing time and a trade will be filled the direction of travel...
, Thanks Dave I now understand what and when the straddle technique can be used.
  • #1,504
  • Jun 7, 2015 8:46am Jun 7, 2015 8:46am
Dave, please do you know if the EA could be trained for indices and commodity trading?
  • #1,505
  • Jun 7, 2015 12:39pm Jun 7, 2015 12:39pm
Congratulations for your great work!
I have obtained good results using TG_Optimization.
I have obtained good results even in your day, May 31, when you said it was a bad day. I use predictive system Heiken Ashi (HA) given daily timeframe. If the forecast day on HA is buying (selling) then I just schedule your expert on this prediction (buying / selling). The sum of all transactions on the whole day was always positive!
The result of your work has resulted in 56 sets for major pairs trading. How could I see, for these 56 sets time periods in which they are most effective? Another problem is related to a currency that is only winning from the beginning of the year (2015). For example the USD against the EUR from January 1 until today had generally only gain. But if the day is earning forecast for EUR, scheduling your expert is totally different.
I think I would get great results with your expert considering what I said. Thanks for your hard work!
I like AC / DC!
  • #1,506
  • Jun 7, 2015 3:57pm Jun 7, 2015 3:57pm
Quoting rimazuc
Dave, please do you know if the EA could be trained for indices and commodity trading?
Yes. You would just need to define PointValue in Start function.
  • #1,507
  • Edited 7:24pm Jun 7, 2015 4:44pm | Edited 7:24pm
Periodically I get enquiries regarding running Strategy Optimizer (and also Traders Gift EA) on mobile devices.

There is always the option to run programs such as TradeViewer on your mobile device which, providing you have a network connection and your source computer is connected, will provide the source screen and the ability to control the source device from your mobile device. Strategy Optimizer was designed to work with minimum 1024 x 768 screens and most current mobile devices do have that capability.

There is a new generation of tablets which incorporate full Windows 8.1 and telephone capabilities. One is the Onda V919. There are other such devices and this is just an example.
  • #1,508
  • Edited Jun 8, 2015 7:20pm Jun 7, 2015 11:49pm | Edited Jun 8, 2015 7:20pm
Todays Discussion:

Continuous Straddle This is probably one of the more unusual strategies in the Traders Gift EA in that it does not rely on any technical indicators. This EA works on a continuous basis and opens 2 pending trades immediately when there are no existing trades. The trades are activated on the basis of price movement after the 2 pending trades are opened. One is a Buy Stop trade and the second is a Sell Stop trade.

An example -
Current Price is 1.0000 and there are no active trades on the chart.
With a Continuous Straddle Buffer of 20,
Two trades are opened -
A Buy Stop for 1.0020 and a Sell Stop for 0.9980
Price moves to 1.0020. Buy trade is filled and Sell Stop is cancelled.

In effect this strategy is saying, I don't know which way the price will go but I will have a bet each way and if the price goes one way by a certain number of pips called the Buffer, I will open a trade at that point in that direction and close the other pending trade at the same time.

The trade is managed according to the money management principles used, and this is one strategy where I suggest you optimize all money management factors except Take Profit (which will be managed by the Take Profit Multiplier), StopLossATRPeriods and TakeProfitATRPeriods. The buffer value should also be optimized as each Currency pair has its own characteristics. Use a 1 minute timeframe for optimization.

This trade can be placed on any chart and the EA will continually monitor for trade closure to open new pending Straddle trades.
This is the only Strategy that cannot be used in conjunction with other Strategies and Filters.

This type of trade can be a hit or miss and is the type of trade that needs to be used over a basket of Currency pairs with and it is not recommended persisting with unprofitable pairs. The EA can be tweaked with optimization and a viewing of the optimization graph within MT4 can help, by looking carefully at the customizable X and Y values with a right mouse click.

Today I have started a demo viewable at http://tradersgift.com/Established_Strategies_Demo.html

In particular, I would suggest you view the performance of the individual currency pairs by clicking on the chart and looking at the advanced statistics table clicking on the Summary tab
  • #1,509
  • Jun 8, 2015 10:45pm Jun 8, 2015 10:45pm
Todays Discussion: Refer to Post #1457 for discussion on Look back Bars and Timeframe

CCI - Commodity Channel Index is an indicator which compares the current price to average price over a particular number of periods and provides oversold or overbought signals.

The formula is
CCI = (Typical Price - N periods SMA of Typical Price) / (.015 x Mean Deviation)

N is the number of periods for the calculation
Typical Price is the average of High + Low + Close
Mean Deviation is the average of the deviations over the same period

The CCI can vary between lower than -100 to greater than +100

Traders Gift interprets a Buy signal when the CCI crosses up through -100 and a Sell signal when the CCI crosses down through +100 so behaves similarly to the RSI crossing upper and lower levels. As such it is a leading indicator which provide advance notice of momentum in either direction.

It is recommended that the number of Periods be optimized.
  • #1,510
  • Jun 9, 2015 1:37am Jun 9, 2015 1:37am
Quoting Dave_C
{quote} Yes. You would just need to define PointValue in Start function.
Great, thanks Dave.
  • #1,511
  • Jun 10, 2015 1:25am Jun 10, 2015 1:25am
Todays Discussion: Refer to Post #1457 for discussion on Look back Bars and Timeframe

ADX - Average Directional Index. This indicator is one of the few indicators which measures the strength of the currency pair but not the direction of movement. A reading above the minimum level can either be Buying or Selling pressure. It looks at the directional movement both higher and lower on a per period basis and divides each by the trading range and takes the absolute difference of each result all smoothed over N periods and factored to give a result between 0 and 100.

The end result is an indication of market strength and generally is interpreted by buy and sell decisions being made on the basis of a reading 25 and over. That is to say that a reading below 25 indicates that the direction of the currency is not particularly well defined.

Traders Gift gives you 2 possible interpretations,
1. Cross - The ADX value moving upwards through the minimum level for a buy signal and the reverse for a sell signal or
2. Position -The ADX value being above the minimum level for confirmation of a trade.

It is recommended that the second option - Position be used as a confirmation of either a buy or sell signal in conjunction with another indicator.

The ADX Periods and Minimum Level can both be optimized.
  • #1,512
  • Jun 10, 2015 4:17am Jun 10, 2015 4:17am
Quoting Dave_C
Todays Discussion: Refer to Post #1457 for discussion on Look back Bars and Timeframe ADX - Average Directional Index. This indicator is one of the few indicators which measures the strength of the currency pair but not the direction of movement. A reading above the minimum level can either be Buying or Selling pressure. It looks at the directional movement both higher and lower on a per period basis and divides each by the trading range and takes the absolute difference...


i dont understand your website, its too clustered man, please can you send set file of the system thats on your explorer.

Regards Soros
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #1,513
  • Edited 12:08pm Jun 10, 2015 6:40am | Edited 12:08pm
Quoting Soros
{quote} i dont understand your website, its too clustered man, please can you send set file of the system thats on your explorer. Regards Soros
No! You are a part of the 1%.
  • #1,514
  • Jun 10, 2015 12:36pm Jun 10, 2015 12:36pm
Quoting Dave_C
{quote} No! You are a part of the 1%.
  • #1,515
  • Jun 10, 2015 1:15pm Jun 10, 2015 1:15pm
really nice EA, run for another month to see real result.
Finding trade solution for US100, DE40, US30
  • #1,516
  • Jun 10, 2015 3:19pm Jun 10, 2015 3:19pm
Quoting Dave_C
{quote} No! You are a part of the 1%.
  • #1,517
  • Jun 10, 2015 7:35pm Jun 10, 2015 7:35pm
Quoting Dave_C
Todays Discussion: Refer to Post #1457 for discussion on Look back Bars and Timeframe ADX - Average Directional Index. This indicator is one of the few indicators which measures the strength of the currency pair but not the direction of movement. A reading above the minimum level can either be Buying or Selling pressure. It looks at the directional movement both higher and lower on a per period basis and divides each by the trading range and takes the absolute difference...
Hi, Dave,

Thanks for your explanation. I have a question about the option of set stoploss to break even. I currently have a buy position of usd/cad, and the set stoploss to breakeven is 15. The EA opened an order at 1.22607, the initial sl was set to 1.21902, now the price is moving up to 1.22796, but the EA didn't move the sl to breakeven, the sl was unchanged. why? Thank you.
  • #1,518
  • Edited 1:44am Jun 11, 2015 12:42am | Edited 1:44am
Quoting mozhixing
{quote} Hi, Dave, Thanks for your explanation. I have a question about the option of set stoploss to break even. I currently have a buy position of usd/cad, and the set stoploss to breakeven is 15. The EA opened an order at 1.22607, the initial sl was set to 1.21902, now the price is moving up to 1.22796, but the EA didn't move the sl to breakeven, the sl was unchanged. why? Thank you.
From what you describe, the EA should have moved the Stop Loss. Can you upload the set file, some trade details and I will have a look at it.

Having a quick look, I can see only a momentary pop-up to that price and that may explain why it was not caught as the rise may not be sufficient to incorporate the spread.
  • #1,519
  • Jun 11, 2015 12:55am Jun 11, 2015 12:55am
Todays Discussion: Refer to Post #1457 for discussion on Look back Bars and Timeframe

ATR - Average True Range which is an exponential moving average (EMA) of True Range.

True Range is the largest of the range from -

previous candle Close to current candle High
previous candle Close to current candle Low
current candle high to current candle low

Average True Range is calculated with the value of this input and is calculated from the the number of periods which is the EMA of True Range.

In effect it is the average value of the price movement per bar, and is similar to ADX discussed yesterday in that is indicative of momentum rather than the direction of Price.

This type of strategy is normally indicative of a breakout from a trading range and can used for example at the end of a quiet Asian trading session. Because false breakouts do occur frequently, the inputs - Periods and Number of Pips per bar are both suggested to be optimized and used in conjunction with another Strategy which gives direction of movement.
  • #1,520
  • Jun 12, 2015 1:02am Jun 12, 2015 1:02am
Todays Discussion: Refer to Post #1457 for discussion on Look back Bars and Timeframe

ZIG ZAG This indicator gives a broader picture of Price Action and is defined by 3 parameters which define the steps (zigzag lines) drawn on a chart

Depth - which is the minimum number of bars to be considered for a step.
Deviation - the minimum price change for a new step to be considered.
Backstep - the minimum value of a pullback to be considered for a reversal.

This indicator is a trend following indicator and really has no predictive value but can be used as a pull back type of indicator as in an ABC type of trade where A is the top of the initial rise, B is the pull back and C is the point level with A beyond which is deemed to be a buy signal (reverse indication for a sell signal). It can give indications of channels when the Deviation value is set as the size of the channel and can also be helpful in identifying head and shoulder, double top and bottom price patterns.

Traders Gift gives a Buy and Sell signals as in the ABC types of trades described above and optimization of the Depth, Deviation and Backstep is recommended.
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