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trend catching with NonLagDot indicator

  • #1,021
  • Jan 16, 2016 5:30am Jan 16, 2016 5:30am
Quoting SmoothTrader
{quote} Mr. Lebaneese has stated that he is trading 1 standard lot. So by comparison, if he were trading 0.1 lots his weekly basket goal would be $100, and if he were trading 0.01 lots, his weekly goal would be $10. Never meaning to put words into his mouth, but he has mentioned it on more than one occasion in this thread. That brings me to a point. There are only 51 pages with just over 1000 posts in this thread, and it wouldn't take a great deal of time to read them ALL and take notes. While instant gratification is great, sometimes it is the...
​You are right Smooth, traders if u like the thread it is important to read it all , many important notes and information could be useful.
And if u didn't like it just forget and skip to other one.
Deal with trading like a normal homework or business if u want to succeed .
  • #1,022
  • Jan 16, 2016 5:32am Jan 16, 2016 5:32am
Quoting Mr.Bull
{quote} not difficult if u want
So why inventing bicycle while I already have one.
  • #1,023
  • Jan 16, 2016 8:46am Jan 16, 2016 8:46am
Quoting SmoothTrader
{quote} Mr. Lebaneese has stated that he is trading 1 standard lot. So by comparison, if he were trading 0.1 lots his weekly basket goal would be $100, and if he were trading 0.01 lots, his weekly goal would be $10. Never meaning to put words into his mouth, but he has mentioned it on more than one occasion in this thread. That brings me to a point. There are only 51 pages with just over 1000 posts in this thread, and it wouldn't take a great deal of time to read them ALL and take notes. While instant gratification is great, sometimes it is the...
I agree SmoothTrader Green Pips to you!
  • #1,024
  • Jan 16, 2016 8:49am Jan 16, 2016 8:49am
Lebanese generally you trade H4 or m30?
  • #1,025
  • Jan 16, 2016 8:51am Jan 16, 2016 8:51am
Quoting rajkumar3192
{quote} can you post the indicator which you use to calculate profit and pips
Attached. It's the same code as the one already posted by Smooth, but I modified it slightly to make the columns wider - in the original, when you reached over 4 figures in a column, they overlapped - not visually cool at all. Enjoy.
Attached File(s)
File Type: ex4 i-Profit Tracker-Fixed1.ex4   68 KB | 480 downloads
mind over matter
  • #1,026
  • Jan 16, 2016 8:57am Jan 16, 2016 8:57am
Quoting maxtill
Lebanese generally you trade H4 or m30?
​Before the thread I trade it on 4H , but now trading M30. The system work on al TF , some are using it on M15 other on Hourly.
  • #1,027
  • Jan 16, 2016 9:19am Jan 16, 2016 9:19am
Quoting SmoothTrader
There are only 51 pages with just over 1000 posts in this thread, and it wouldn't take a great deal of time to read them ALL and take notes. While instant gratification is great, sometimes it is the process of learning that creates the greatest impact.
I can only admire your diplomatic skills, Smooth - I tend to snap back in the face of ignorance.
mind over matter
  • #1,028
  • Jan 16, 2016 9:52am Jan 16, 2016 9:52am
Quoting Lebaneese
​nice week result, keep updating.
I truly enjoy trading your method. Once again, thank you for sharing it.
mind over matter
  • #1,029
  • Jan 16, 2016 10:35am Jan 16, 2016 10:35am
Quoting Dave_C
Enclosed EA for this indicator. {file}
Thanks!
  • #1,030
  • Jan 16, 2016 10:54am Jan 16, 2016 10:54am
Lebaneese thx for the quick response!
  • #1,031
  • Edited 11:43am Jan 16, 2016 11:29am | Edited 11:43am
Enjoy.

Here is a pdf file that I created with the system described in Mr. Lebaneese's own words and with plenty of examples.

I would suggest printing it out and writing notes in the margins.

GREEN pips to one and all.

Attached File(s)
File Type: pdf Mr Lebaneese in words and images.pdf   3.7 MB | 1,517 downloads
  • #1,032
  • Jan 16, 2016 1:23pm Jan 16, 2016 1:23pm
Thx SmoothTrader
I quickly read it and looked again examples
  • #1,033
  • Jan 16, 2016 2:45pm Jan 16, 2016 2:45pm
Quoting SmoothTrader
Enjoy. Here is a pdf file that I created with the system described in Mr. Lebaneese's own words and with plenty of examples. I would suggest printing it out and writing notes in the margins. GREEN pips to one and all. {image}
Big thank you for this effort Smooth. That's what we call team spirit .
  • #1,034
  • Jan 16, 2016 3:02pm Jan 16, 2016 3:02pm
Quoting Lebaneese
{quote} ​Does MA change color ? .

YES IT DOES!!!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDecnM15.png Size: 28 KB
  • #1,035
  • Jan 16, 2016 4:51pm Jan 16, 2016 4:51pm
​In the CalculateDirection of the EA, the current situation is that the timeframe of the current chart is used for entry and exit calculation and the current code covers that situation below.

NLD1 = iCustom(NULL,0,"nonlagdot",0,Length,0,0,1,0,0,0,1);
NLD2 = iCustom(NULL,0,"nonlagdot",0,Length,0,0,1,0,0,0,2);
if(NLD1 > NLD2) Direction = Up;
if(NLD1 < NLD2) Direction = Down;


That is if the NonLagDot 2 bars ago agrees with The NonLagDot 1 bar ago a direction is established.

I have experimented with the establishment of the direction by referencing 2 other timeframes, the 15 min and the 240 and the code that covers that situation is below. (You will notice that the Length is fixed at 20 in this scenario)

NLD1 = iCustom(NULL,0,"nonlagdot",0,20,0,0,1,0,0,0,1);
NLD2 = iCustom(NULL,0,"nonlagdot",0,20,0,0,1,0,0,0,2);
NLD3 = iCustom(NULL,15,"nonlagdot",0,20,0,0,1,0,0,0,1);
NLD4 = iCustom(NULL,15,"nonlagdot",0,20,0,0,1,0,0,0,2);
NLD5 = iCustom(NULL,240,"nonlagdot",0,20,0,0,1,0,0,0,1);

NLD6 = iCustom(NULL,240,"nonlagdot",0,20,0,0,1,0,0,0,2);

if(NLD1 > NLD2 && NLD3 > NLD4 && NLD5 > NLD6) Direction = Up;
if(NLD1 < NLD2 && NLD3 < NLD4 && NLD5 < NLD6) Direction = Down;


That is providing there is agreement in all 3 timeframes (the chart, 15 min and 240 min) a direction is established.

Some time ago I posted a question on the forum regarding entry points and it was highlighted by Lebaneese that trend exhaustion had occurred and there was no point entering the trade and he was correct so I am canvassing this idea.

The results look promising on backtest but there is a potential problem with Trade Closure with signal reversal and it appears that fixed Take Profit may be a better option since the 240 min reversal may be too late. Maybe a reversal on just the 15 min timeframe could act as a closure signal.

Look forward to your input.
  • #1,036
  • Edited 6:31pm Jan 16, 2016 5:19pm | Edited 6:31pm
The market is closed, so in the spirit of Mr. Lebaneese teaching us by example I have attached a chart of a none trending choppy market. Your home work is to figure out all of the setups, see which one's got triggered, and see what the resulting profit/loss would be for this 2 day period.

Have fun learning, and the GREEN pips will follow.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (4).png Size: 14 KB


hint: there are lots of setups, but not many trades.
  • #1,037
  • Jan 16, 2016 5:24pm Jan 16, 2016 5:24pm
Quoting SmoothTrader
The market is closed, so in the spirit of Mr. Lebaneese teaching us by example I have attached a chart of a none trending choppy market. Your home work is to figure out all of the setups, see which one's got triggered, and see what the resulting profit/loss would be for this 2 day period. Have fun learning, and the GREEN pips will follow. {image} hint: there are lots of setups, but not many triggers.

I see 3
Solutions ONLY!!!
  • #1,038
  • Jan 16, 2016 6:22pm Jan 16, 2016 6:22pm
Quoting Dave_C
The results look promising on backtest but there is a potential problem with Trade Closure with signal reversal and it appears that fixed Take Profit may be a better option since the 240 min reversal may be too late. Maybe a reversal on just the 15 min timeframe could act as a closure signal. Look forward to your input.
Could there be a user setting on confirmation t/f's to:
+ select the confirmation t/f's
+ select to use 1 or both t/f's

I'm just thinking that whilst a 240 min may be too late to get out, it may also be too late to get in. (for those trading a shorter t/f like 15mins)
Good Trading
  • #1,039
  • Edited 6:46pm Jan 16, 2016 6:31pm | Edited 6:46pm
Here is my personal analysis (which definitely is not gospel):

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (5).png Size: 32 KB


Assuming ALL trading setups will be taken, no matter during what trading period.

11 setups
6 confirmed trades (1, 4, 6, 8, 9, 10)

Trade # 1 was stale with over 300 pip rise before the 1st bear candle - probably wouldn't have taken it. Stop would be 150 pips away!
Trade # 9 was over 200 pip rise and almost total retrace of 160 pips - probably wouldn't have taken it.
Trade # 10 the Stop Loss would be over 100 pips away - probably wouldn't have taken it

2 trades that had over 50 pips profit at one point in time (1 & 8) don't let 50 pips profit turn into a loss.
Technically neither one of them hit their stops in this screen shot. Trade # 1 had max profit of 80 pips and trade # 8 had a max profit of 135 pips.

4 trades hit their stop losses (# 4 23 pips, # 6 50 pips, # 9 80 pips, # 10 - 105 pips)

Worst case scenario 260 pips Stop Loss and 30 pips floating loss

Worst probable scenario (# 4 23 pips, # 8 at BE, # 6 50 pips) minus 73 pips

This is assuming that no other basket trades were taken.

Its not great, but its not terrible either. In fact, during those days my baskets closed in profit each and every day!



If only taking setups during London and New York:

7 Setups (2, 3, 4, 5, 9, 10, 11)

3 confirmed trades (4, 9, 10)

Trade # 9 was over 200 pip rise and almost total retrace of 160 pips - probably wouldn't have taken it.
Trade # 10 the Stop Loss would be over 100 pips away - probably wouldn't have taken it

All 3 trades hit their Stop Loss

Worst case scenario - 210 pips Stop Loss

Worst probable scenario - 23 pips Stop Loss

My take away from this exercise: Don't allow good profits to turn into losses, don't trade stale or runaway markets because the stop loss risk is too high, and even if one pair is choppy and not trending the other pairs can pick up the slack and put the baskets into profit.

GREEN pips to one and all.


oops I just noticed that I cut out some of the chart in the first screen shot....sorry about that.
  • #1,040
  • Edited Jan 17, 2016 12:37pm Jan 16, 2016 8:03pm | Edited Jan 17, 2016 12:37pm
Quoting aud
{quote} Could there be a user setting on confirmation t/f's to: + select the confirmation t/f's + select to use 1 or both t/f's I'm just thinking that whilst a 240 min may be too late to get out, it may also be too late to get in. (for those trading a shorter t/f like 15mins)
I appreciate your comments.

My thinking relating to the timeframes -

240 min gives confirmation that we are in alignment with the major trend.
15 min gives confirmation that there is not potentially another swing in the opposite direction.

I'm of course assuming that we are targeting 30 min (or possibly 60 min) and can add the input to optionally perform the crosscheck on entry and that will handle those who are trading on 15 min or less.

Relating to exit - I personally tend to favour trend exhaustion but it did not perform as well as fixed TP in backtest. I don't think the crosscheck on 240 min performs any useful function on exit of trade and am inclined to think of an optional exit on the 15min trend reversal.
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