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Price Action Trading with Indicators! The Freebie System

  • #6,921
  • Dec 10, 2015 8:47am Dec 10, 2015 8:47am
Quoting Checkz
{quote} My pivots don't look like yours {image}
That's right Checkz. I have the same pivot pattern as you do on my Oanda chart. The reason for this difference is due to the broker open time.
If you notice on Oanda that big candle happened the PRIOR day. That will expand the pivot lines when the calculations are made. Where as with the broker you saw on that post (FXPro), the big candle happens in the current day, not yesterday, so the pivot lines are not as spread out. I bet you that come Monday the pivot lines for FXpro will be alot wider apart, and that is cause of that big ol candle LOL.
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  • #6,922
  • Dec 10, 2015 8:53am Dec 10, 2015 8:53am
Quoting xmess7
{quote} That's right Checkz. I have the same pivot pattern as you do on my Oanda chart. The reason for this difference is due to the broker open time. If you notice on Oanda that big candle happened the PRIOR day. That will expand the pivot lines when the calculations are made. Where as with the broker you saw on that post (FXPro), the big candle happens in the current day, not yesterday, so the pivot lines are not as spread out. I bet you that come Monday the pivot lines for FXpro will be alot wider apart, and that is cause of that big ol candle...
Thank you. No trades on Aud/Usd so far for me at least. Why was there no trade here seem to fail at pivot and stochs were crossed down and red ha candle
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  • #6,923
  • Dec 10, 2015 9:14am Dec 10, 2015 9:14am
Quoting keysharp
Hey Jess, just for curiosity what would be a good return on a portfolio during these economic times? I believe I am getting after fees somewhere between 3 and 4 per cent. If we (you) can get this ea going then bad returns would be more palatable.
That depends on your situation and your individual risk tolerance. Well at the least in your case I would shoot for 8% (twice the fees). In what interval? That is 8% a week? Month? Hour (LOL)?? It depends on when the fees are applied. Is it a ECN broker? Did the trade get charged the daily interest?

For now lets get the EA working properly and continue to monitor forward tests. My main thing would be to see the approach handle loses, that is to be able to recover from loses if left alone. Once that is established then man, you can pick whatever risk you desire and be confident that your account will grow and grow
Our AWESOME IMAGINATION is the true holy grail!
  • #6,924
  • Dec 10, 2015 9:22am Dec 10, 2015 9:22am
Quoting xmess7
{quote} That depends on your situation and your individual risk tolerance. Well at the least in your case I would shoot for 8% (twice the fees). In what interval? That is 8% a week? Month? Hour (LOL)?? It depends on when the fees are applied. Is it a ECN broker? Did the trade get charged the daily interest? For now lets get the EA working properly and continue to monitor forward tests. My main thing would be to see the approach handle loses, that is to be able to recover from loses if left alone. Once that is established then man, you can pick whatever...
Thanks Jess. I was referring to a regular equities investment account with annual income rate and fees charged. I have a feeling I may need to be looking for another investment firm.
  • #6,925
  • Dec 10, 2015 9:25am Dec 10, 2015 9:25am
Quoting xmess7
{quote} Checkz: I found out why there was no EURUSD short trade. I got the same thing on my Oanda account. It has to do with how the candle failed didn't fail the pivot point. In order for the candle to fail the pivot point it has to CLOSE below the pivot level (close above for long conditions). In the case that u highlighted that candle was an HA RED with a top 3semafor less than 4 bars away, and the STOCH cross down BUT that candle did not close BELOW the pivot. What u see is the LOW below the pivot. So no trade. Again, this is similar to what...
Okay so let me see if I got this right in order for a candle to fail at a pivot it has to close below the pivot for a long and close above the pivot for a sell.
  • #6,926
  • Dec 10, 2015 9:28am Dec 10, 2015 9:28am
Quoting Checkz
{quote} Thank you. No trades on Aud/Usd so far for me at least. Why was there no trade here seem to fail at pivot and stochs were crossed down and red ha candle {image}
Not quite Checks, remember we use the regular candle to determine pivot failure not the HA candle.

Sorry for the confusion, I just gave u the quick answer last time concerning pivots. In the case of the candle u are showing, yes true it closes below the pivot line but
it didn't have it's high above the pivot line that is right above it.

So here is the rule definition of a failed pivot. These are based on a definition that Dredding told us to look at and his own charts when he made trades.

Failed pivot high (as you thought you saw on your chart):
1. For a candle that CROSSES one of the pivot lines (your candle didn't)
2. The candle's high is ABOVE the pivot line (it wasn't)
3. The candle's close is BELOW the pivot line (it was)

Failed pivot low(as you thought you saw on your chart):
1. For a candle that CROSSES one of the pivot lines
2. The candle's low is BELOW the pivot line
3. The candle's close is ABOVE the pivot line (it did)

hope this helps clarify
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  • #6,927
  • Dec 10, 2015 10:04am Dec 10, 2015 10:04am
Quoting xmess7
{quote} Not quite Checks, remember we use the regular candle to determine pivot failure not the HA candle. Sorry for the confusion, I just gave u the quick answer last time concerning pivots. In the case of the candle u are showing, yes true it closes below the pivot line but it didn't have it's high above the pivot line that is right above it. So here is the rule definition of a failed pivot. These are based on a definition that Dredding told us to look at and his own charts when he made trades. Failed pivot high (as you thought you saw on your...
Okay now I understand. I just got a sell. Sorry for posting so many charts. Im just trying to get a firm understanding.
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  • #6,928
  • Dec 10, 2015 10:57am Dec 10, 2015 10:57am
Quoting Checkz
{quote} Okay now I understand. I just got a sell. Sorry for posting so many charts. Im just trying to get a firm understanding. {image}
No worries. We r in the debug phase.
Our AWESOME IMAGINATION is the true holy grail!
  • #6,929
  • Dec 10, 2015 12:16pm Dec 10, 2015 12:16pm
FXPRO process:

Fabio: So far version 2 is taking trades and in synch with indicator. I have useAutotrend=No and TestTradeOn_AverageRange=No. So it should take every trade that meets the conditions on page 1 I didn't have those settings like before lastnite and that is why u see a short that was not taken on chart image. . So far it seems to be doing this. So far....
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  • #6,930
  • Edited 2:20pm Dec 10, 2015 1:50pm | Edited 2:20pm
Just had two trades hit on audusd. Different brokers but same entry.
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. The settings were changed to reflect the no's you mentiond in the previous post. Oh well they both went bust. but did look promising.
  • #6,931
  • Dec 10, 2015 2:17pm Dec 10, 2015 2:17pm
Quoting xmess7
FXPRO process: Fabio: So far version 2 is taking trades and in synch with indicator. I have useAutotrend=No and TestTradeOn_AverageRange=No. So it should take every trade that meets the conditions on page 1 I didn't have those settings like before lastnite and that is why u see a short that was not taken on chart image. . So far it seems to be doing this. So far.... {image}
ok i will try that.
  • #6,932
  • Dec 10, 2015 2:22pm Dec 10, 2015 2:22pm
Quoting bhaskaruni
{quote} @Xm7 I am using the Semafor indicator with delta as 0 and remaining other MA settings default. The repainting of semafor Node 3 top/bottom is a big issue, So I thought it would work better when we enter the trade only on miniHigh/miniLow (node1 & node2) instead of opening new trades for every Node 3 level. If we follow only the miniHigh/miniLows, we would be already in the trend started from previous Node3 top/bottom. I added this as an option in the EA I shared with the name as UseLevel3Nodes. Setting this option to false will only open...
not good, maybe my set, could you send your over, please?
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  • #6,933
  • Dec 10, 2015 3:03pm Dec 10, 2015 3:03pm
EA status on TradeKing Broker

You can see the full detailed report at http://xm7.info/ea/freebie/status.htm

Profit as of yesterday was as much as $1400 up but today there were two losers that knocked the profit down to about $900. So one thing that I will consider is closing the EA at the end of Wednesdays when I see profit. But we'll see if next week the approach can overcome the two losses and provide more profit.

The 1st week I was using 1% risk and there were several trades taken in error. But even then, notice how the EA kept your account relatively at BE. It kept the account in the game. Also notice the 8.5% draw-down. That is considerable. Usually one prefers to see 1-3%. Of course 1-2% is ideal but 3% is ok. I think the draw-down that high due to the 1st week volatility. Perhaps as time goes on the draw-down will settle down and be lower.

Enjoy:
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Our AWESOME IMAGINATION is the true holy grail!
  • #6,934
  • Dec 10, 2015 3:35pm Dec 10, 2015 3:35pm
Hi xmess7,

Been reading this thread for 6 months and I just saw renewed activity today! I downloaded your indicators and EA and have the indicator on about 10 charts. I'll be observing all the signals overnight. Was wondering what "UseAutoTrend" is for. I assume it looks at the Daily 3level if set to True?

Thanks again for all your work, I'd be testing and providing feedback as best I can!

Bob
  • #6,935
  • Dec 10, 2015 4:02pm Dec 10, 2015 4:02pm
Quoting dallmanb
Hi xmess7, Been reading this thread for 6 months and I just saw renewed activity today! I downloaded your indicators and EA and have the indicator on about 10 charts. I'll be observing all the signals overnight. Was wondering what "UseAutoTrend" is for. I assume it looks at the Daily 3level if set to True? Thanks again for all your work, I'd be testing and providing feedback as best I can! Bob
dallmanb:
Don't thank me or any of use yet. WE are in the debug phase as of yet. There are still issues that need to be addressed with the EA and the indicator. But all that is going to be corrected. Then after the debug phase comes the MM phase. That's were we decide how moneymanagement can be modified to provide the best risk and bang for buc.

In brief this is what the EA and indicator do etc.

1. look for HA candle White or Red
2. then look for 3sema dot on top or bottom (3 candles or less)
3. look for which way stoch has crossed
4. Check upperTimeFrame for trend direction (autoTrend=Yes, I am only a 3sema on higher TF to determine trend) There is a multi version somewhere. That one has more upper trend options (20MA, and HA candles). I haven't touched it since I developed it. I won't until we get this EA working flawlessly, but u are more than welcomed to try it out. It's not on my server, it's posted somewhere and it contains "multi" in it's name.
5. Set stop Loss to 1 pip below or above last 3sema dot
6. Depending on userInput. Check if trade entry is to close to Average Range level (user can decide not to use this)
7. Depending on user input. use fixed lotsize or calculate based on risk percent user provides
8. Depending on user input, Set TakeProfit to either 1to1 or to next pivot or to Daily Average level or Fixed Take profit
10. if 1-9 pass then we open a trade.
11. Otherwise EA will print information in Experts advisor.

Of course the indicator does the same except no trade. It does however eliminate trades (this is optional) if the trades are to close to the average range levels. You don't need the indicator to be on the chart, for now it just helps you to SEE where a trade should of happened.

I recommend you download the vOANDA EA. That one provides alot more debug information in the Experts Tab. It essentially prints all the conditions that were seen before the trade was taken. It helps to see that info to make sure a trade it is correct or not.

In some of the other posts I show images of all this stuff... refer to those posts. MAN, if Dredding where available he could just move stuff to the 1st page.

Ok to get the LATEST very LATEST you can find all EAs and indicators @ http://xm7.info/ea/freebie

Oh yea, whenever you report something indicate the broker and if you know the time that the broker opens for the day.
Our AWESOME IMAGINATION is the true holy grail!
  • #6,936
  • Dec 10, 2015 4:46pm Dec 10, 2015 4:46pm
LOL guys I don't know why but I thought it was FRIDAY Today!! LOL. I had closed down the EAs and started to go into Saturday mode LOL.
I am starting up the EAs and letting them run thru tomorrow. LOL...
Our AWESOME IMAGINATION is the true holy grail!
  • #6,937
  • Dec 10, 2015 5:17pm Dec 10, 2015 5:17pm
I already setup the ea and the indicator. It just triggered a sell trade for the GU, I'm running a demo account on FXDD.

I've been playing around with an indicator to use 2 timeframes higher HA candle for the trend, seems to work well. Also, I have played with adding the spread to the SL instead of just 1 pip. Some pairs have a pretty large spread.

Another thought is a filter on the hour of the day. I guess it doesn't matter as much being that its a robot, however, only trading during the london and NY sessions can avoid some trades that don't go anywhere. Just my 2 cents !
  • #6,938
  • Edited 6:04pm Dec 10, 2015 5:41pm | Edited 6:04pm
Quoting dallmanb
I already setup the ea and the indicator. It just triggered a sell trade for the GU, I'm running a demo account on FXDD. I've been playing around with an indicator to use 2 timeframes higher HA candle for the trend, seems to work well. Also, I have played with adding the spread to the SL instead of just 1 pip. Some pairs have a pretty large spread. Another thought is a filter on the hour of the day. I guess it doesn't matter as much being that its a robot, however, only trading during the london and NY sessions can avoid some trades that don't go...
The whole idea is based on what dredding did. That I recall he had no conditions on when to trade. In fact he was always joked about Fridays and how many say not to trade that day. He would make buc and lafff. Again the rule for the sl is what dredding indicated. He was not concerned with the conditions of spread, he just set the SL as indicated in the 1st page. I remember when he got frustrated when traders would not read the rules lol. He would ban them. Lol fun to see lol.
Our AWESOME IMAGINATION is the true holy grail!
  • #6,939
  • Edited 6:23pm Dec 10, 2015 6:07pm | Edited 6:23pm
FXPRO progress:
Problem: Trades are taken in opposite direction.

Fabio:
I am going to set the AutoTrend back to Yes. So far with the AutoTrend=No the EA seemed to jive with the indicator signals. Now lets see if with autoTrend=Yes if the EA starts to take oppsite trades cause the EA is reading the upperTrend incorrectly.
Our AWESOME IMAGINATION is the true holy grail!
  • #6,940
  • Dec 11, 2015 2:08am Dec 11, 2015 2:08am
Update.

Please download version 3. Aside from updates to the indicator, the EA and indicator can handle stocks with server start time GMT+3 ( around 4pm PST).
I am preparing the indicator to also be able to handle stocks. I recall Dredding would also trade stocks and gold, was successful too.

As always all updates are always available at http://xm7.info/ea/freebie
Attached File(s)
File Type: ex4 xm7_Freebie_Indicator_v3.ex4   48 KB | 161 downloads
File Type: ex4 xm7_Freebie_EA_v3.ex4   42 KB | 150 downloads
Our AWESOME IMAGINATION is the true holy grail!
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