ATR Break Out

RISK WARNING

All Expert Advisors (Robots), Indicators, Trading Systems posted by me

​are Trading Tools developed for Experimental purposes.

Using any of these tools on a real account carries a high degree of risk.

I will not be held responsible for any losses incurred by any one uses these tools.

ATR Break Out (ABO) Trading System is an automated trading system (aka EA, bot, robot), that uses Average True Range (ATR) break out as an entry signal in the direction of the break out.

ABO is using Pending Stop Orders which are calculated based on ATR parameters at the start of new bar.
Un-triggered orders are deleted before placing new orders.

ABO robot was born at the Robot Lab Project and moved to this dedicated thread to grow on its own.

The system uses ATR multipliers (same concept implemented in Big Candle) for Break Out, Stop Loss, Take Profit and Trailing Stop.
Position Size can be fixed or automatically calculated based on Risk Percentage and Stop Loss for each trade.

MACD and RSI filters (suggested by auvergnat78) can be optionally applied.

System Inputs :


Note : Default ATR period 50

Sample Test Screen Shot :



Sample Test EUR/USD H1 2015 with default settings.



VERSION CONTROL :

1. Version 4: Post # 1.
2. Version 5 (final): Post # 70.
3. Version 6 (filters) : Post # 104

Nice work Abokwaik!!
How can i fix the mismatched chart error?
tx
S

Quick Answer : By Loading better historical data.

OK. Few words about back testing.

 

1. Back Testing is not a proof of profitability
2. It is the first tool I use to validate a new trading idea, and make sure the robot is working as per the rules.
3. A good ROI% vs DD% percentage (i.e 2 and above) is an initial indication that the robot may survive market changing conditions, specially when applied to long period and generated good number of trades (min. 30).
4. The purpose of using Filters is to minimize false signals (loosing trades), it will reduce the number of trades taken.
5. Back Testing Data Quality importance increases for lower time frames and decreases for higher time frames
6. Back Testing can be used to reach settings sets that can be used later on in forward testing or live trading

So don't mind the mismatched chart errors.

The second testing phase of a robot will be by forward testing it on a demo account.
If it performs well for at least 30 trades, only then you may try it on a real account.

Hi Abokwaik

Thank you for your development of this nice Tool.

Can i use it for other pairs? or only EURUSD.

Regards

Demo Trade Explorer Added using a crazy set on EUR/USD H1

Tx Abokwaik but i already downloaded all history available.
broker is FXCM.
Still mismatch error
S

trading time is based on broker's time or local time computer?

Broker time.My settings for EURUSD is for European session.

Nice one just like all of your work.


Subscribed.

It looks very promising for you. I wish you the best in your forward testing, and hopeful for you that you have created a winner

Hi Central,

Of course you can use it on other instruments.
Its a momentum-based strategy, so it better be used with good-trending instruments.

I think it should do will with Gold.

If you are interested in back testing data quality you can gooogle it and you'll find many resources about the issue.
However spending too much time back testing is not recommended.


The system idea is very simple (leaving the filters aside), actually the first version was with no filters.
And the settings I am using for forward testing are also with no filters (except trading time).
So the system idea is to follow the market in the direction of a Sizable break out based on multiples of average candle size (ATR).

Take a look at the current GBP/USD H1 chart, where ATR(50) = 20, and using 2 x ATR for Break Out, 2 x ATR for Stop Loss, and 4 x ATR for Take Profit.

Does it make sense ?, if yes, start Forward Testing it on a demo account.

As the trade explorer dosn't show current orders (because no trades closed yet).

Here are the pending orders placed at EUR/USD H1 as per "crazy_set".



If no order is not triggered within the hour, the robot will delete the pending orders, and open new ones on the new hour based on the then ATR values. And so on until a pending order is triggered.

EDIT: to make it clearer

I cant see any open pending trades.

a Terminology issue maybe ?

When I say order I mean Pending Order.
When I say trade I mean Market Order.

This system is only using Pending Orders.
I the Market comes to us and triggered the Pending Order then it will become a Trade.

Yes, sorry for my english, i understood it.
Backtesting is working, i can see pending orders, but forward doesn't open any pending orders. Startting hour(0-24) is ok, risk pct is ok. Should i atach atr to screen? I dont think so.

I just opened a dummy trade on GPB/USD and closed it with 0 profit, Just to enable the Trade Explorer.

Make sure you had enabled "Allow Live Trading".
Can you see a Smiley Face beside the EA name on the chart ?

Yes, thats fine. I will wait to see if anyone else having same problem. And i attached EA to several pairs. Will see...
Thank you.

I've noticed that one of the old pending orders was not deleted.
I will check that and update.