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request: RSI + ATR

  • #1
  • First Post: Edited Aug 11, 2006 12:51am Aug 10, 2006 2:38pm | Edited Aug 11, 2006 12:51am
Can anyone write this indicator?

http://www.traders.com/Documentation...OREXfocus.html

Basically it is a RSI(21) and ATR(21) on a H1 or H4 chart.

When RSI crosses 50, buy at the close of that bar + 20% of that bar's ATR (1st lot)
When RSI crosses 60, buy another lot (2nd lot)
When RSI crosses down 70, close the 1st lot.
When RSI crossed down 50, close the 2nd lot.

Stop is set at 30% ATR below the entry price.

Thanks
  • #2
  • Aug 10, 2006 5:54pm Aug 10, 2006 5:54pm
What are the potential returns Burger King? There are a few EA writers around here. Hope one of them take on the task.
  • #3
  • Edited Aug 11, 2006 12:26pm Aug 10, 2006 7:33pm | Edited Aug 11, 2006 12:26pm
According to the article, that RSI + ATR discipline was backtested for 3.5 years using a startup capital of $1000 and ended up with more than $60,000 of 60x. And this was using 1 lot sizes from day 1 to 3.5 years later. The return can be higher if the script scales up based on the equity at hand.

Backtest result I posted over at VT forum:
Quote
Very interesting results! Just tried on 1H charts for EURUSD (+320pips), GBPUSD (+450pips), USDJPY (+175pips), EURJPY (-80pips) in a 1 month period!

Seems very consistent (3/4 wins) for a total of +865 pips win.

BTW. JPY is a very choppy currency and yet it made some profit on USDJPY.

I bet if VT could make entry orders, stop and limits, this one could make more.

PS. its RSI(21) and ATR(21)
  • #4
  • Aug 10, 2006 10:33pm Aug 10, 2006 10:33pm
BurgerKing

which timeframe did u use for backtesting?
  • #5
  • Aug 11, 2006 12:54am Aug 11, 2006 12:54am
I tested it on VT platform covering 1 months worth of data. Time table was 1H.

If you'd go over at VT forum, you can download a VT version and thats what i used to backtest. fairly successful on 4 pairs.
  • #6
  • Aug 11, 2006 12:03pm Aug 11, 2006 12:03pm
Hey Burgerking I am very intrigued by this system and I have been shopping around privately to see if I can get someone to create an EA for it. Stay tuned.
  • #7
  • Aug 11, 2006 12:37pm Aug 11, 2006 12:37pm
The above link no longer points to the article.

You may search/google for the title of the article:

Going Beyond 70 And 30 In Forex - Jamie Saettele

or:

http://www.forex-tsd.com/suggestions...-30-forex.html

and over at VT forum

http://forum.vtsystems.com/index.php?showtopic=4524
  • #8
  • Aug 12, 2006 2:39pm Aug 12, 2006 2:39pm
As requested by Yardie, attached is a simple EA based on BurgerKing's RSI-ATR principle. It opens trades like rabbits reproducing, but backtest results on H1 & H4 were not good.

Please review code and advise if order triggers, order close and StopLoss routines are correct.

I added a Trailing Stop feature. If input =0, then no trailing stop is used. If UseCloseSignal=false, TakeProfit and Stoploss input values are used.

I'm not an experienced programmer and that may be evident in this EA. Any help is greatly appreiciated.


Wackena
Attached File(s)
File Type: zip Bogie RSI-ATR Trend v1.zip   54 KB | 2,108 downloads
  • #9
  • Aug 12, 2006 3:08pm Aug 12, 2006 3:08pm
Thanks for your efforts Wackena. Maybe Burgerking can add something. Those backtesting results didnt impress at all.
  • #10
  • Aug 12, 2006 4:44pm Aug 12, 2006 4:44pm
This may take some time to check the codes as I am new to MT4 programming.

Anyone knows where I could get a complete MT4 programming manual?
  • #11
  • Aug 12, 2006 5:19pm Aug 12, 2006 5:19pm
Quoting BurgerKing
This may take some time to check the codes as I am new to MT4 programming.

Anyone knows where I could get a complete MT4 programming manual?
I don't know if this is what you need, but it does define all parameters and functions.

http://docs.mql4.com/

Wackena
  • #12
  • Aug 13, 2006 10:03am Aug 13, 2006 10:03am
I think now we might be on the correct direction in developing this EA.

After reading the post on vt forum by tinybolt10, he states that RSI value was from the previous period high(long), Low(short) and % of ATR is based on previous daily ATR. In the 1st version, I took BurgerKing's guidlines to mean that RSI was based on previous period close and % of ATR was based on previous period. Previous period being H1 or H4.

I modified the earlier Bogie RSI-ATR Trend v1 and the results are much better.

It's a bit like watching your 401K investment, it has ups and downs, but overtime produces a general growth.

Attached is revised v2 EA and gbpusd, usdjpy, usdchf backtests with and without trailing stop. I had trouble backtesting eurusd. The history data for this pair may be corrupt. I will reload data later and try again. If someone would backtest and post results for eurusd with v2 EA, thanks.

Any comments or suggestions are appreciated.

Wackena
Attached File(s)
File Type: zip Bogie RSI-ATR Trend v2.zip   51 KB | 2,340 downloads
  • #13
  • Aug 13, 2006 10:24am Aug 13, 2006 10:24am
Wow Wackena you have become the resident EA expert on the forum . It looks like this EA was meant for the GBPUSD. It produces the most impressive results (200% in 8 months) from backtesting. The other results were lacklustre although the USDJPY at 50% wasnt too bad.



Quoting wackena
I think now we might be on the correct direction in developing this EA.

After reading the post on vt forum by tinybolt10, he states that RSI value was from the previous period high(long), Low(short) and % of ATR is based on previous daily ATR. In the 1st version, I took BurgerKing's guidlines to mean that RSI was based on previous period close and % of ATR was based on previous period. Previous period being H1 or H4.

I modified the earlier Bogie RSI-ATR Trend v1 and the results are much better.

It's a bit like watching your 401K investment, it has ups and downs, but overtime produces a general growth.

Attached is revised v2 EA and gbpusd, usdjpy, usdchf backtests with and without trailing stop. I had trouble backtesting eurusd. The history data for this pair may be corrupt. I will reload data later and try again. If someone would backtest and post results for eurusd with v2 EA, thanks.

Any comments or suggestions are appreciated.

Wackena
  • #14
  • Aug 14, 2006 11:16am Aug 14, 2006 11:16am
I am forward testing this one on the GBPUSD and EURUSD pairs. So far no trade has been made.
  • #15
  • Aug 14, 2006 11:38am Aug 14, 2006 11:38am
Quoting Yardie
I am forward testing this one on the GBPUSD and EURUSD pairs. So far no trade has been made.
Yardie,

This could be like watching water boil. In review of backtest results, order entry intervals ranged from a few days up to almost 2 weeks. On average, 25 orders per pair for 8 months seems to be the average.

Wackena
  • #16
  • Aug 14, 2006 1:00pm Aug 14, 2006 1:00pm
Yes I can tell from the tests. I will make sure I have it on all the time just in case hehe.



Quoting wackena
Yardie,

This could be like watching water boil. In review of backtest results, order entry intervals ranged from a few days up to almost 2 weeks. On average, 25 orders per pair for 8 months seems to be the average.

Wackena
  • #17
  • Edited 8:26pm Aug 14, 2006 8:10pm | Edited 8:26pm
Hi,

Im glad you looked at the VT forum - and in case you have TASC magazine, you could get to understand the whole strategy as well.

Quote
Yes I can tell from the tests. I will make sure I have it on all the time just in case hehe.

Make sure you have it running for several months as well.

BTW. Would it be also possible if the EA were to scale up its lot size based on the equity at hand?

Perhaps something like increasing the lot size every 50% increase in equity (relative to the initial equity amount). ie, at 7500, it will be trading 2 lots; by 10k, it will be 3 lots...
  • #18
  • Aug 14, 2006 9:44pm Aug 14, 2006 9:44pm
Quoting BurgerKing
Hi,

Im glad you looked at the VT forum - and in case you have TASC magazine, you could get to understand the whole strategy as well.



Make sure you have it running for several months as well.

BTW. Would it be also possible if the EA were to scale up its lot size based on the equity at hand?

Perhaps something like increasing the lot size every 50% increase in equity (relative to the initial equity amount). ie, at 7500, it will be trading 2 lots; by 10k, it will be 3 lots...
Attached is the EA with Money Management routine.

UseMM - This is a Money Management feature that calculates lot size based on percentage of AccountEquity. The percentage is set by the Risk input (percent number, no decimals; ie, 2 = 2%).

Lots input is used if UseMM = false.

Wackena
Attached File(s)
File Type: mq4 Bogie RSI-ATR Trend v2.mq4   7 KB | 2,076 downloads
  • #19
  • Aug 16, 2006 8:28am Aug 16, 2006 8:28am
Wackena I notice that the EA does not print a TP when it opens an order. I am generally a big fan of EAs that print TP and SL when an order is open. My question is this -- without a printed TP, will the expert lose the trade if I reboot my machine or get disconnected?

Quoting wackena
Attached is the EA with Money Management routine.

UseMM - This is a Money Management feature that calculates lot size based on percentage of AccountEquity. The percentage is set by the Risk input (percent number, no decimals; ie, 2 = 2%).

Lots input is used if UseMM = false.

Wackena
  • #20
  • Aug 16, 2006 9:24am Aug 16, 2006 9:24am
Quoting Yardie
Wackena I notice that the EA does not print a TP when it opens an order. I am generally a big fan of EAs that print TP and SL when an order is open. My question is this -- without a printed TP, will the expert lose the trade if I reboot my machine or get disconnected?
The way I think it works is when an EA places order/s with s/l & t/p printed, the server will process the order/s to conclusion at either s/l or t/p without the need of being connected to your PC.

On order/s that are placed without a s/l or t/p printed, your PC needs to be connected to allow the EA to process the order/s to conclusion. If PC is not connected, the order/s can run rampant in either direction.

Wackena
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