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Firebird EA, please test this one, it is one of the greats

  • #921
  • Aug 17, 2006 6:16pm Aug 17, 2006 6:16pm
Quoting cgldsmth
absolutely. Firebird needs room to breath to give the inherent probability of the 10:1 success ratio a chance to manifest. I've also had quite a few trades that have closed with profit after a week.

we may have seen the start of a concerted uptrend in the dollar today so we'll get the chance to see how it does in a trending market. remember that less than 30% of the time is the market trending.

one approach would be to top-slice profits whenever the account is doubled.

note on my statement that the profit factor is increasing toward 3 now.

good work everyone.
Hi,

Can you please post your setting and on what time frame are you using...according to your statement you are using MM=True...right ??

Thanks
Babar
  • #922
  • Aug 17, 2006 6:45pm Aug 17, 2006 6:45pm
ur right. your results are pretty close to mine, and I have to work my butt off sitting and scalping to get there. I think I will have alittle competition and do my combo and just let one run for a month and see the difference...I'll be fun anyway......




Quoting cgldsmth
absolutely. Firebird needs room to breath to give the inherent probability of the 10:1 success ratio a chance to manifest. I've also had quite a few trades that have closed with profit after a week.

we may have seen the start of a concerted uptrend in the dollar today so we'll get the chance to see how it does in a trending market. remember that less than 30% of the time is the market trending.

one approach would be to top-slice profits whenever the account is doubled.

note on my statement that the profit factor is increasing toward 3 now.

good work everyone.
  • #923
  • Aug 17, 2006 8:56pm Aug 17, 2006 8:56pm
has anyone notice that the experts writes account equity every second under the expert tab. my computer has slowed way down since i have added this expert has anyone experience anything similar and how do i shut this off thanks
Brent
  • #924
  • Aug 17, 2006 9:03pm Aug 17, 2006 9:03pm
hi all..

Im just got to know this EA works very well and plan to use it in live trading
Is that reliable to use this EA in live mini account for IBFX.
Is there any modification need to change for this purpose.
For IBFX, what suppose the setting for GMT and DST.

Anyone here has use this for mini acc?
thanks
Twitter/FB : @scandicfx
  • #925
  • Aug 17, 2006 9:37pm Aug 17, 2006 9:37pm
Edwin the solution to this is to get more RAM. I believe that is they way all EA works under MT4.



Quoting erwin1680
has anyone notice that the experts writes account equity every second under the expert tab. my computer has slowed way down since i have added this expert has anyone experience anything similar and how do i shut this off thanks
Brent
  • #926
  • Aug 17, 2006 9:59pm Aug 17, 2006 9:59pm
Hi Guys

Good to see, lots of different testing going on.

Now, lets see some new ideas/theories.

I'll start the ball rolling by suggesting that firebird might work better by placing a hedge every time its gets outside the tunnel, instead of a reversal.

If the hedge goes against us then pipsteps kick in.

What do you think? will it solve the trend and news issues?
Mono
  • #927
  • Aug 17, 2006 10:06pm Aug 17, 2006 10:06pm
Hey Mono I do not think I understand what you are trying to say. Can you simplify?



Quoting mono
Hi Guys

Good to see, lots of different testing going on.

Now, lets see some new ideas/theories.

I'll start the ball rolling by suggesting that firebird might work better by placing a hedge every time its gets outside the tunnel, instead of a reversal.

If the hedge goes against us then pipsteps kick in.

What do you think? will it solve the trend and news issues?
  • #928
  • Aug 17, 2006 10:30pm Aug 17, 2006 10:30pm
Quoting Yardie
Hey Mono I do not think I understand what you are trying to say. Can you simplify?
Ok, Currently firebird uses a tunnel which is created by MA10 +10% and
MA10 - 10%. (or whatever you have set it at)

So you have upper band and a lower band. When the price reaches the lower band, Firebird buys, and when it reaches the upper it sells. (so its betting on the price reversing)

Now, what I'm suggesting is that, instead of placing 1 (reversal) order, it will place 2 opposing orders, a buystop and a sellstop (hedge). When that order gets filled, it cancels the opposing order and continues.
Attached Image
Mono
  • #929
  • Aug 17, 2006 10:42pm Aug 17, 2006 10:42pm
Sounds like a good addition to me. I think some form of hedging could help Firebird tremendously especially in big trends.



Quoting mono
Ok, Currently firebird uses a tunnel which is created by MA10 +10% and
MA10 - 10%. (or whatever you have set it at)

So you have upper band and a lower band. When the price reaches the lower band, Firebird buys, and when it reaches the upper it sells. (so its betting on the price reversing)

Now, what I'm suggesting is that, instead of placing 1 (reversal) order, it will place 2 opposing orders, a buystop and a sellstop (hedge). When that order gets filled, it cancels the opposing order and continues.
  • #930
  • Aug 17, 2006 10:51pm Aug 17, 2006 10:51pm
Where would you propose those order be placed? In the case of a sell order, how far above the upper envelope would you place your buy stop, and how far below it for sell?

Quoting mono
Ok, Currently firebird uses a tunnel which is created by MA10 +10% and

MA10 - 10%. (or whatever you have set it at)

So you have upper band and a lower band. When the price reaches the lower band, Firebird buys, and when it reaches the upper it sells. (so its betting on the price reversing)

Now, what I'm suggesting is that, instead of placing 1 (reversal) order, it will place 2 opposing orders, a buystop and a sellstop (hedge). When that order gets filled, it cancels the opposing order and continues.
  • #931
  • Aug 17, 2006 10:58pm Aug 17, 2006 10:58pm
can somebody please post the code for Fire Bird?
  • #932
  • Aug 17, 2006 11:01pm Aug 17, 2006 11:01pm
Quoting mono
Ok, Currently firebird uses a tunnel which is created by MA10 +10% and
MA10 - 10%. (or whatever you have set it at)

So you have upper band and a lower band. When the price reaches the lower band, Firebird buys, and when it reaches the upper it sells. (so its betting on the price reversing)

Now, what I'm suggesting is that, instead of placing 1 (reversal) order, it will place 2 opposing orders, a buystop and a sellstop (hedge). When that order gets filled, it cancels the opposing order and continues.
Ahh, so your saying if it hits the lower band, it triggers both orders, 5 pips away for example. Another tunnel on the bands. Then if it broke through to the sell stop and reversed, what then? It goes back to the old rules?

What if we just added a tight stop loss after an order is triggered outside of the tunnel? If it reverses soon after the breakout, it was almost assuredly false.
  • #933
  • Aug 17, 2006 11:04pm Aug 17, 2006 11:04pm
Quoting BenQ
Where would you propose those order be placed? In the case of a sell order, how far above the upper envelope would you place your buy stop, and how far below it for sell?
I've just made a suggestion, haven't really thought it through. But something like 5 pips + spread above and below the upper/lower band depending on where the price is.
Mono
  • #934
  • Aug 17, 2006 11:07pm Aug 17, 2006 11:07pm
Quoting Dan7974
can somebody please post the code for Fire Bird?
A couple of pages back there is a fixed firebird.
Mono
  • #935
  • Aug 17, 2006 11:11pm Aug 17, 2006 11:11pm
Just so that I'm sure I'm clear on this and not contemplating an incorrect scenario, when the price breaks out of the tunnel, Firebird, assuming a return to the tunnel/trend, places orders contrary to the current direction.

The further the price moves against it, the more it adds to the position. (ie. pipstep)

Is this correct?
  • #936
  • Aug 17, 2006 11:14pm Aug 17, 2006 11:14pm
Quoting mono
I've just made a suggestion, haven't really thought it through. But something like 5 pips + spread above and below the upper/lower band depending on where the price is.
Did you see my question above about what to do if the stop order was executed and then reversed?
  • #937
  • Aug 17, 2006 11:16pm Aug 17, 2006 11:16pm
Quoting Hagbard Celine
Ahh, so your saying if it hits the lower band, it triggers both orders, 5 pips away for example. Another tunnel on the bands. Then if it broke through to the sell stop and reversed, what then? It goes back to the old rules?

What if we just added a tight stop loss after an order is triggered outside of the tunnel? If it reverses soon after the breakout, it was almost assuredly false.
Yeah... something like that.

Take news for example, it will cross the firebird band and keep going for 100+ pips, now you dont want to take profit at +30, you want it to keep going until it exhausts itself. At news time divergence is high, so you wont set tp until divergence comes down. (Please bear with me, cause I'm kind of thinking out loud).
Mono
  • #938
  • Aug 17, 2006 11:35pm Aug 17, 2006 11:35pm
Quoting Hagbard Celine
Did you see my question above about what to do if the stop order was executed and then reversed?
Then normal pipstep routine will kick in.
Mono
  • #939
  • Aug 17, 2006 11:43pm Aug 17, 2006 11:43pm
Mono,

I'm following you, don't worry.

I'm not at the top of my game right now either, been a long day. It's good to think this way though before retiring to bed. You'll dream up the solution.

I think it's an excellent strategy to protect for news or unexpected events if we can build on it some more.

Just to throw some ideas up against the wall...

1. We need risk management for false breakouts. Should these buy/sell stop orders be entered with a tight stop loss? If one of these is triggered, it's going to be under the assumption of a big move in our direction. I don't see why we would allow it much leeway.

2. What would we do in response to closing one of these orders? Probably need to go back and do some research on false breakouts of the tunnel.

3. What if we always had buy or sell stop orders floating out side of the tunnel. They would need to be outside of the tunnel and far enough to account for the the average false breakout. They would be constantly updated according to the current price to protect us from some major unexpected swings.

Still thinking but I'll go ahead and put these out there.

Be gentle please.
  • #940
  • Aug 17, 2006 11:46pm Aug 17, 2006 11:46pm
For the constant floating stop orders, the new one would have to be opened before the old could be closed just so that split second wouldn't have a chance to get you.
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