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Price Action Trading with Indicators! The Freebie System

  • #7,001
  • Dec 15, 2015 10:37am Dec 15, 2015 10:37am
antodedo: Some of my questions will very obvious but I am just trying to understand what you meant by your comments:

Quoting antodedo
..basically what I think the EA should do is to be applied on 2 different timeframe , 1 bigger and one smaller ... .
Ok I think you mean that two TimeFrames should be considered, just like on page 1, right? Or do you mean to apply the EA to 2 time frames and have it look for the rules on page 1 for BOTH TimeFrames?


Quoting antodedo
.. the small time EA will work accordingly to the higher time frame EA , without worry of the daily trend but only taking into consideration the trend of actual higher time chosen
So you mean that the lower TImeFrame will not be concerned with what the Higher TimeFrame EA is doing, but will only take into account the Trend the chosen higher TimeFrame?


Quoting antodedo
It will be great when the EA will recognize that the HH HL and the LH LL of the higher time frame , deciding in which side the smaller time frame EA will trade . I might be confusing , hope you got what I mean .
Now this is something I had considered earlier on. There are several ways to determine HH LL. Could you post a chart and highlight and explain how you determine trend using HH LL? I will show you in a bit what I plan to use to determine trend using HH LL.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,002
  • Dec 15, 2015 10:44am Dec 15, 2015 10:44am
Quoting dallmanb
{quote} Hi Antodedo, Your approach sounds very similar to Paulus, his comments are around page 90 of this thread. He only trades on the M5, mainly during the London session, focuses on EU, GU, UCad, AU, he looks for HH, HL, change of color, but he also uses Cammarilla Pivots, and only trades at a failed pivot.
dallmanb:
Good memory, I too remember Paulus. I remember he claimed to be making 15% per trade. But later on I think he mentioned he was playing the overnight rates or something like that. I had the impression he wasn't per say trading currencies in the way we think of it, but trading the spread bet or something like that.
Anyhow I am going to re-read what he attempted and see if this is something to consider. Thnx for the mention of the post number.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,003
  • Dec 15, 2015 10:46am Dec 15, 2015 10:46am
Quoting HighFivve
{quote} Xmas . you should try 24 and 76 instead of 20.80..thanks
OOOH tighter I like that .
My idea is to the less you trade the less your risk, DUH right?? LOL
Anyhow, I'll consider that on the next version... thnx HighFivve
Our AWESOME IMAGINATION is the true holy grail!
  • #7,004
  • Dec 15, 2015 10:51am Dec 15, 2015 10:51am
Quoting xmess7
{quote} OOOH tighter I like that . My idea is to the less you trade the less your risk, DUH right?? LOL Anyhow, I'll consider that on the next version... thnx HighFivve
The reason behind this Idea is that NOT hitting all the way below to 20 is bullish.. Yet we are still catching the retrace... lol...
Learn THEN Unlearn
  • #7,005
  • Dec 15, 2015 10:52am Dec 15, 2015 10:52am
Well this morning I took a look at the TradeKing account and saw that a long was taken for GBPUSD where the indicator had not shown a green arrow.
I looked at where the signal had happened and it met all conditions except the failed pivot.

So in the next version I will add to the debug window the value of the pivot line that the candled crossed. This way we can then compare the indicator pivot line value to that of what the EA is calculating. It should be the exact same thing since both EA and Indicator use the exact same equations. The only time will be different is if the EA is set to Daily pivots and the indicator is set to Fib pivots.

We are getting real close having this EA do exactly as it is expected. So what's next? A couple of things:
1. Deciding the best Trend detection for the upper TF
2. MORE Moneymanagement conditions. (this is where the protection and profit will start to work out for us).
Our AWESOME IMAGINATION is the true holy grail!
  • #7,006
  • Dec 15, 2015 12:53pm Dec 15, 2015 12:53pm
Had three trades for profit this morning. Computer updated last night and was off for about 4.5 hrs. so trading time was shortened. but I still have a question about closing one trade and opening another within two or three bars.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.afxM15.png Size: 14 KB
The arrow comes after a recent close of a buy trade. the stoch is at 80 so shouldn't the short trade come into play?
  • #7,007
  • Dec 15, 2015 1:51pm Dec 15, 2015 1:51pm
Quoting keysharp
Had three trades for profit this morning. Computer updated last night and was off for about 4.5 hrs. so trading time was shortened. but I still have a question about closing one trade and opening another within two or three bars. {image} The arrow comes after a recent close of a buy trade. the stoch is at 80 so shouldn't the short trade come into play?
keysharp: Excellent questions and great image display of problem. Thnx man this makes it easier to answer.

Yes you are correct there should of been a short trade right there. So 2 things. Does the Expert Tab show anything for that candle with the Red Arrow??
Remove the Heiken Ask indicator and see if the candle is crossing the pivot line. I can't tell from the image if that is happening.

Let me know... Thnx...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,008
  • Dec 15, 2015 2:00pm Dec 15, 2015 2:00pm
Quoting xmess7
{quote} keysharp: Excellent questions and great image display of problem. Thnx man this makes it easier to answer. Yes you are correct there should of been a short trade right there. So 2 things. Does the Expert Tab show anything for that candle with the Red Arrow?? Remove the Heiken Ask indicator and see if the candle is crossing the pivot line. I can't tell from the image if that is happening. Let me know... Thnx...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.afxM15.png Size: 14 KB
Looks like the bar is crossing the pivot line.
  • #7,009
  • Dec 15, 2015 6:34pm Dec 15, 2015 6:34pm
Quoting keysharp
{quote} {image} Looks like the bar is crossing the pivot line.
You mean the high of the candle is above the pivot line right?
I still can't tell if it crossed cause the RED ARROW is in the way LOL. Remove the indicator and zoom in. IF the high of that candle is not above the pivot line then the condition is not met. I think the RED ARROW is above the 3rd candle to the left from the 3sema Dot.

You can also try this.
Select that green pivot line, it's just above the RED ARROW and right click on it.
You will see menu of items, select "Trendline properties".
One in the properties click on the tab called "Parameters".
Now just read the number in the box that says "Value". That is the pivot line level.
Now get the high of the candle and compare that to the Value you just got.
If the condition was met the candle high will be higher than the Value.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,010
  • Dec 15, 2015 10:26pm Dec 15, 2015 10:26pm
Guys:

I have been analyzing logs and looking at today's trades. Yep there is still some sort of bug with the EA.

For example today on the stock McDonalds all conditions where met for a LONG trade but the trade was not taken cause there was an error 130.
Error 130 means Invalid Stops. Then on the very NEXT candle it takes the LONG! I check the stoploss and it matches, it is 1 cent below the last 3sema!!

So either the EA still has a bug or funny business is going on with the broker (FXPRO). I am going to look at the other brokers I have running (OANDA, TRADE KING) and see if the same is happening with currencies.

Oh in a bit will update v4. It will include the pivot level so you can compare and make sure that there was a pivot failure.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,011
  • Dec 15, 2015 10:32pm Dec 15, 2015 10:32pm
Quoting xmess7
Guys: I have been analyzing logs and looking at today's trades. Yep there is still some sort of bug with the EA. For example today on the stock McDonalds all conditions where met for a LONG trade but the trade was not taken cause there was an error 130. Error 130 means Invalid Stops. Then on the very NEXT candle it takes the LONG! I check the stoploss and it matches, it is 1 cent below the last 3sema!! So either the EA still has a bug or funny business is going on with the broker (FXPRO). I am going to look at the other brokers I have running (OANDA,...
The EA seems to be working on the Eur/Usd Oanda. It just took a sell trade and exited the trade with a breakeven win a few minutes ago.
  • #7,012
  • Dec 15, 2015 10:48pm Dec 15, 2015 10:48pm
On a more positive note. Here's another example of a TakeHalf_LeaveRestBE.
I hope we get ALOT of these in the future. BTW the EURUSD one went to BE, lets see how this one does.

Enjoy:
Attached Image (click to enlarge)
Click to Enlarge Name: Freebie_TakeHalf_LvBE.jpg Size: 207 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #7,013
  • Dec 15, 2015 11:00pm Dec 15, 2015 11:00pm
Quoting Checkz
{quote} The EA seems to be working on the Eur/Usd Oanda. It just took a sell trade and exited the trade with a breakeven win a few minutes ago.
Checkz: Thnx for the update. Show me a chart and what are u using as the long trend, I am using Heiken Ash this week for Upper Trend direction.

In my case today was a LONG upperTrend so no short trades. At 20:00 it should of taken a LONG trade. There was a GREEN ARROW at 19:45 but it didn't happen.
I looked the JOURNAL TAB and at around 6pm my time the terminal was not connected. This is not new and does happen, MT4 then reconnects after a while.
Anyway after some calculations it turns out that my 6pm coincides with the servers 20:00. So I am figuring that it was not connected when it tried to take the trade. so of course if that was the case then the EA would not detect anything cause it would not be connected to the server. The indicator on the other hand just scans back so even when the MT4 reconnects the EA will scan back and of course detect the trades.

Ok lets move on... update to v4 coming soon.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,014
  • Dec 15, 2015 11:16pm Dec 15, 2015 11:16pm
UPDATE to v4 EA and Indicator:

EA update:
Just added the actual pivot level. The EXPERT TAB print out will now look something like this:
xm7_Freebie_EA_v4 EURUSD,M15: 2015.15.12 12:45 Failed pivot low - White HA candle crossed a pivot at: 1.34567

Indicator update:
Did fix so it won't show double lines as the new days show up.

All latest files are located at http://xm7.info/ea/freebie
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v4.ex4   46 KB | 172 downloads
File Type: ex4 xm7_Freebie_Indicator_v4.ex4   52 KB | 165 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #7,015
  • Dec 15, 2015 11:42pm Dec 15, 2015 11:42pm
Quoting xmess7
{quote} Checkz: Thnx for the update. Show me a chart and what are u using as the long trend, I am using Heiken Ash this week for Upper Trend direction. In my case today was a LONG upperTrend so no short trades. At 20:00 it should of taken a LONG trade. There was a GREEN ARROW at 19:45 but it didn't happen. I looked the JOURNAL TAB and at around 6pm my time the terminal was not connected. This is not new and does happen, MT4 then reconnects after a while. Anyway after some calculations it turns out that my 6pm coincides with the servers 20:00. So...
Im using no trend and fib pivots
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (40).png Size: 60 KB
  • #7,016
  • Dec 16, 2015 2:53am Dec 16, 2015 2:53am
EA took this buy trade but there was no green arrow. I had to close chart and reload it before the green arrow appeared.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot (41).png Size: 60 KB
Click to Enlarge Name: Screenshot (42).png Size: 37 KB
  • #7,017
  • Edited 7:09am Dec 16, 2015 6:52am | Edited 7:09am
Quoting Checkz
{quote} Im using no trend and fib pivots {image}
Checkz:
Good... you are using different pivots than I and no TrendDetection. For a second I thought that I had another bug LOL.
So it seems the indicator is the one that is not matching the EA. I found out that the pivot lines are not updated properly when the new day starts on the indicator side. You have to then reload the indicator and the right pivot lines appear... Hmm I think I know why... let me make that change and I will update the indicator v4 again.

EDIT: Made the change. Indicator v4 has been updated. This should fix the update of the pivot levels when a new day opens. previously when the new day opened the pivot levels where not correct and you had to reload the indicator to get them to align with what the EA was calculating. You would then see Arrows matching up with any trade you expected as well. Lets see if this does the trick.
Attached File(s)
File Type: ex4 xm7_Freebie_Indicator_v4.ex4   52 KB | 186 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #7,018
  • Dec 16, 2015 8:04am Dec 16, 2015 8:04am
Just a thought on upper TF HA, per Dredding, he said this:

M5 - look at the h1
M15 - look at the H4
H1 - look at the D1
  • #7,019
  • Dec 16, 2015 9:58am Dec 16, 2015 9:58am
Quoting dallmanb
Just a thought on upper TF HA, per Dredding, he said this: M5 - look at the h1 M15 - look at the H4 H1 - look at the D1
Ok, I'll modify the EA and indo to do that automatically. That is when you pick HA it will adjust the upperTrend to those TimeFrames.
I'll have that in a bit ...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,020
  • Dec 16, 2015 10:16am Dec 16, 2015 10:16am
Quoting xmess7
{quote} Ok, I'll modify the EA and indo to do that automatically. That is when you pick HA it will adjust the upperTrend to those TimeFrames. I'll have that in a bit ...
Also, Paulus was very clear that he did not trade before London opened , and stopped after NY closed.

I see lots of signals occur on pairs after those hours that are usually trades that get stopped out.

Might consider an option to set a "UseTimeOfDay", "TradingHoursStart", "TradingHoursEnd".
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