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ATR Break Out

  • #281
  • Edited 12:15am Nov 19, 2015 12:05am | Edited 12:15am
Hi I am using fixed lot size but the problem is the price where it need to end with zero round figure on Index some of them like Nikkei HSKI and Nifty they need to be like format 876.50 ,876.40 876.30 can not be with other format so just need to fix the last digit to be round figure as it says error and cannot open buy sell at 876.43 876.51 this is just example of some Index which do not allow to open these figures .Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Nifty.png Size: 30 KB
  • #282
  • Nov 19, 2015 3:21pm Nov 19, 2015 3:21pm
Hi Abokwaik

I have traded a similar system for sometime and I think you have created a very good EA here, that can produce excellent results.

Here are some thoughts based on my experience trading this way live.

1/ I strongly recommend that you consider trading the EA in only one direction - trade the 15minute or 1hr time frames but base the direction on the daily or weekly trend. I suggest people interested in this method use their favorite long term trend filter on the daily to trade the trends.

The beauty of this type of trading means that you get less trades left open as the trend ends and price retreats into the other direction (since it is likely that less trades will breach their breakout ATR range). This is solid logic - but there is a fine balance to get it right.

In my opinion your bi-directional set ups as they are will always fail eventually as the open trades that are caught in the wrong direction early on in a trend will sink it. This is especially the case with a strong trend - as is happening now for you.

2/ I am not sure that people fully understand the dynamics of your EA. The relationship between different variables can make or break a breakout systems based on ATR. Everyone needs to get on the strategy tester and run many variations to see these clearly.

For example:
- the relationship between the Breakout ATR multiplier (ATRM) and the time frame (TF) - the higher the TF the lower you generally want (need) your breakout ATRM.

- the relationship between the Stop Loss ATRM and contract size (using risk %) - which is also defined by the TF you are trading on. There is a sweet spot for each TF.

- the relationship between the trailing Stop ATRM and the break out ATRM.

- also the trailing stop ATRM and the start and ending hours

These are just a few of the key relationships that need to be explored to create a very nice trading set up. There is a lot more to this that meets the eye on initial inspection - and your EA allows us to do this well.

I have attached a picture of the trades from one set up on a 15min TF for the E/U downtrend through November. This particular set up has produced a nice 3% return with only a 1.3% DD for the period. In some trends I can get it to make 20% in a few months - and in range bound markets it will manage to minimize losses to 1 to 3%. This is tested over many years. 30min, 1hr, and 4hr TF's also produce good set ups.

I focus exclusively on risk management - which means I am more interested in minimizing the max DD which usually occurs at the end of each trend. So you need to (1) really get your long term trend filter right first off then (2) develop your set up to minimize the risks in the bad trends or where it becomes choppy and ranging.

I will not be posting set ups. They take hours of work to get the balance - and we all need to make this journey or it'll never work for you when you trade them live.

But you have created an excellent EA here and it fits well with how I trade - and it allows me to trade lower time frames if I want to.

Tim

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Click to Enlarge Name: Screenshot2.png Size: 39 KB
  • #283
  • Nov 21, 2015 11:38am Nov 21, 2015 11:38am
Quoting redrose
Hi I am using fixed lot size but the problem is the price where it need to end with zero round figure on Index some of them like Nikkei HSKI and Nifty they need to be like format 876.50 ,876.40 876.30 can not be with other format so just need to fix the last digit to be round figure as it says error and cannot open buy sell at 876.43 876.51 this is just example of some Index which do not allow to open these figures .Thanks {image}
Ok red. I got it now. The EA is already using the DIGITS supported by the terminal, but it seems to behave differently with indexes as in your case. I will provide an input for the number of digits to fix this issue. All the best
No guts, no glory
  • #284
  • Nov 21, 2015 11:41am Nov 21, 2015 11:41am
Quoting timmy
Hi Abokwaik I have traded a similar system for sometime and I think you have created a very good EA here, that can produce excellent results. Here are some thoughts based on my experience trading this way live. 1/ I strongly recommend that you consider trading the EA in only one direction - trade the 15minute or 1hr time frames but base the direction on the daily or weekly trend. I suggest people interested in this method use their favorite long term trend filter on the daily to trade the trends. The beauty of this type of trading means that you...
Thank you timmy. That is really a valuable feedback. I will consider for next release. All the best
No guts, no glory
  • #285
  • Nov 21, 2015 9:02pm Nov 21, 2015 9:02pm
Hi abokwaik
will wait for the ea and trend filter on daily weekly will be good just add as mtf for sellection because when it has very big move it will always do sideways for a while then rally where we can pick the suitable time frame as trend filter .Thanks
  • #286
  • Nov 23, 2015 7:34pm Nov 23, 2015 7:34pm
Hi abowaik .
Any luck to get the update version for the requested error for Index .still waiting to continue the demo test .
  • #287
  • Nov 23, 2015 8:07pm Nov 23, 2015 8:07pm
Quoting redrose
Hi abowaik . Any luck to get the update version for the requested error for Index .still waiting to continue the demo test .
Hi,
did you test this AR_BO EA on any live account? if yes can you post your results please.
  • #288
  • Nov 25, 2015 5:27am Nov 25, 2015 5:27am
Quoting redrose
Hi abowaik . Any luck to get the update version for the requested error for Index .still waiting to continue the demo test .
Hi redrose,

I apologize for the delay, as I am really busy these days.

Here is an update for you where you can control the Number of Digits used for SL and TP and Trailing Stop.
Modify last input (Number of Symbol Digits, -1 to use MT4 defaults) to number of digits allowed for the index, or leave it as -1 to use MT4 default digits for the pair.

Please try and let me know if its OK.

Regards,
Khalil
Attached File(s)
File Type: ex4 ABO_05_R.ex4   15 KB | 674 downloads
No guts, no glory
  • #289
  • Nov 25, 2015 5:37am Nov 25, 2015 5:37am
Quoting dargane
Hey, I found this ATR Channel indicator on the MQL4 Codebase. I just wanted to get a visual of when a trade's supposed to happen. Thought I'd share it here in case anyone else was interested. Abo, have you determined if the EA closes all pending orders after trading stomp time? {file}
Hi dargane,

That is great.
Actually I was planning to develop a similar indicator instead of opening too many pending orders.

Here is what I am planning to do:
1. Modify the ATR Channel to a Multi_Pair/Multi_Time_Frame version with alerts for manual trading.
2. Build an EA based on the New ATR Channel Break Out indicator.

Regards,

Khalil
No guts, no glory
  • #290
  • Nov 25, 2015 5:42am Nov 25, 2015 5:42am
With regard to timmy's suggestion of adding a trend filter, The idea will make this a powerful EA.
However, each one has his own definition of the trend.

To solve this with the current single-pair version it is easy to allow only Long or only Short positions from EA property window. I already applied this to GBP/USD yesterday where I allowed only short positions, and for USD/JPY today where I allowed only long positions, and its working fine.

However for a mult-pair version we need a trend filter built into the EA. Suggestions are welcome ...
No guts, no glory
  • #291
  • Nov 25, 2015 6:56am Nov 25, 2015 6:56am
Quoting abokwaik
With regard to timmy's suggestion of adding a trend filter, The idea will make this a powerful EA. However, each one has his own definition of the trend. To solve this with the current single-pair version it is easy to allow only Long or only Short positions from EA property window. I already applied this to GBP/USD yesterday where I allowed only short positions, and for USD/JPY today where I allowed only long positions, and its working fine. However for a mult-pair version we need a trend filter built into the EA. Suggestions are welcome ... ...
Try trading only the daily Heikin Ashi of yesterdays bar. For example, if yesterdays daily Heikin Ashi is Red only short trades if Green only long trades. Try time frame 15 min bars. Or backtest the EA for the best time frame. I suggest not to turn on the EA first day of the week Monday as the market may still be trying to decide where it wants to go for the coming week and to avoid a possible nasty chop. Just a though
  • #292
  • Nov 25, 2015 7:26am Nov 25, 2015 7:26am
Hi Abokwaik
Thanks for the new version trailing stoploss , TP , SL looks perfect .but open buy stop sell stop will also require rounded decimal point where i did the back test it says error Please fix it thanks
  • #293
  • Nov 25, 2015 7:43am Nov 25, 2015 7:43am
Quoting redrose
Hi Abokwaik Thanks for the new version trailing stoploss , TP , SL looks perfect .but open buy stop sell stop will also require rounded decimal point where i did the back test it says error Please fix it thanks
Done.
Attached File(s)
File Type: ex4 ABO_05_R.ex4   15 KB | 606 downloads
No guts, no glory
  • #294
  • Nov 25, 2015 7:46am Nov 25, 2015 7:46am
Quoting abokwaik
With regard to timmy's suggestion of adding a trend filter, The idea will make this a powerful EA. However, each one has his own definition of the trend. To solve this with the current single-pair version it is easy to allow only Long or only Short positions from EA property window. I already applied this to GBP/USD yesterday where I allowed only short positions, and for USD/JPY today where I allowed only long positions, and its working fine. However for a mult-pair version we need a trend filter built into the EA. Suggestions are welcome ... ...
My 2 cents for trend filter, I use 21 and 34 EMA and trade based on daily direction.
If you believe in yourself anything is possible !!
  • #295
  • Nov 25, 2015 7:56am Nov 25, 2015 7:56am
Quoting imifx
{quote} My 2 cents for trend filter, I use 21 and 34 EMA and trade based on daily direction.
Agree since it seems this ATR EA is more of a swing trader so daily direction preferred. Like right now the EA is long USDCAD but it might get killed later. Because it might be just testing the 62% fib of the big move yesterday and then down again. I maybe wrong but I'd rather be looking to short USDCAD right now.
  • #296
  • Nov 25, 2015 8:02am Nov 25, 2015 8:02am
Thanks for your quick reply and revised EA . for trend filter i suggest use big time frame such as weekly EMA 20 ,50,200 cross
and angle of daily time frame should be 2 o'clock or 4 o'clock for short time frame break and sell break on buy this is just my idea if you can use as trend filter .make as external for trend filter .like weekly daily h4 h1 etc.. so can test on many time frame .
  • #297
  • Nov 25, 2015 8:10am Nov 25, 2015 8:10am
After taking a deeper look at the ATR_Channel indicator, its a bit different from what I want, as it uses MA to draw the channel instead of current price, it also uses multiple channels instead of one channel.


So here is a new indicator that uses the same concept of ABO EA, with the addition of a Higher time frame trend filter (using MA - default daily EMA34).
It will show Buy/Sell Signals with optional alert.

Currently for one pair/tf.
Attached File(s)
File Type: ex4 ATR_Channel_BO.ex4   13 KB | 987 downloads
No guts, no glory
  • #298
  • Nov 25, 2015 8:20am Nov 25, 2015 8:20am
Quoting abokwaik
After taking a deeper look at the ATR_Channel indicator, its a bit different from what I want, as it uses MA to draw the channel instead of current price, it also uses multiple channels instead of one channel. So here is a new indicator that uses the same concept of ABO EA, with the addition of a Higher time frame trend filter (using MA - default daily EMA34). It will show Buy/Sell Signals with optional alert. Currently for one pair/tf. {file}
Thnx
If you believe in yourself anything is possible !!
  • #299
  • Nov 25, 2015 8:21am Nov 25, 2015 8:21am
Quoting abokwaik
After taking a deeper look at the ATR_Channel indicator, its a bit different from what I want, as it uses MA to draw the channel instead of current price, it also uses multiple channels instead of one channel. So here is a new indicator that uses the same concept of ABO EA, with the addition of a Higher time frame trend filter (using MA - default daily EMA34). It will show Buy/Sell Signals with optional alert. Currently for one pair/tf. {file}
is it possible to clear the dust from chart, as whenever a new entry or order placed EA leaves a mark on chart and this gonna be huge and mt4 freeze for sometime.
If you believe in yourself anything is possible !!
  • #300
  • Nov 25, 2015 8:41am Nov 25, 2015 8:41am
Quoting imifx
{quote} is it possible to clear the dust from chart, as whenever a new entry or order placed EA leaves a mark on chart and this gonna be huge and mt4 freeze for sometime.
Done.
Attached File(s)
File Type: ex4 ABO_05_R.ex4   16 KB | 1,037 downloads
No guts, no glory
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