Price Action Trading with Indicators! The Freebie System

Folks: I got somewhat good news and then somewhat news... none bad LOL

Good news is that v13, Multiv11, and the indiv11 are already coded. They contain the addition of the candle stick patterns.
The so so news is that I earlier I had posted them but had to remove them...

Thnx to Erik I was able to use code he provided and rather quickly insert it into the EAs. Since they worked very well on their own I didn't see a problem using them without any modifications. In fact the code was very straightforward, sort of like plug and play.

So I dropped the v11 indicator on a chart and NOTHING!. Not even with the default HA candles... no signals NADA!!.
Upon further review I noticed that the new candle pattern functions had one detail... they were calculated on the current candle, not at the close. I also then noticed that I had the usage reversed. The EA was looking for short candle patterns when the trend was saying long. So I immediately removed them from the thread and started the debugging.

One thing I found out is that there are many variations as to what candle patterns are. In many pages and in the code I saw different variations of the same pattern. very subjective stuff. This code was not the exception, it had a weird way of detecting bearish/bullish engulfments. So I got in there and re-wrote the function to get both bearish and bullish engulfment functions to work properly. So this is where I am at. I have to go thru each function and correct it so that it makes sense of the patterns.

Anyhow I do have the bullish/bearish engulfments working. I fired up the indicator and man it looks AWESOME. I saw some entries and compared them to their HA counterparts. In those cases where both had a trade you could clearly see that the candle pattern got in earlier. Looks good..

So as soon as I get the last 8 patterns fixed we'll have the new versions ready. Now, based on my observations there were several patterns that I did not include. Reason being that I noticed that these patterns happened after the required 1-4 candles from a 3sema zzdot. For now I am leaving many of those patterns out. But later on I plan to go back and study this more. I am thinking a possible use could be like continuation patterns.. to add on trades etc etc..

Here's the list of patterns that are in the new code. Any comments or additions let me know.
J

For Trend = LONG:
HaramiLower
Hammer
PiercingPattern
BullishEngulfing
TweezerBottom
Following are not being used.. may be used for continuation:
MorningStar
InvertedHammer
ThreeInsideUp

For Trend = SHORT:
HaramiUpper
ShootingStar
HangingMan
BearishEngulfing
TweezerTop
Following are not being used.. may be used for continuation:
EveningStar
DarkCloudCover
ThreeInsideDown

Updates to the EAs and indicator.

I made some advances on the _3sema and _20ema upperTrend detection indicators. I think this is going to yield better results than what these indicators provided before I added this extra, real simple logic. I tell you, this stuff came to me as I was waking up yesterday, lol. I also made some adjustments to other parts of the EAs and indicator. I have not done anything with the HA upper indicator. So, I don't recommend we use any of those for now, cause they are subject to delayed reactions. In the next version I will also have code for those that will minimize the affect of the lagging indicators.

I am not done with the candle pattern, looks like I will have to go thru each pattern and reprogram the code so that it looks for the patterns at the closing and not at the current candle, as it is moving up and down.

For now I recommend u guys use either the _3sema or _20ema. Even though I verified thru code that the trend is detected properly, we just need to make sure that it is still working under a trading environment.
Enjoy:

no trades on V12.5 but did get a message in experts:2016.02.01 09:00:01.436 xm7_Freebie_EA_v12.5 GBPUSD.afx,M15: zero divide in 'xm7_Freebie_EA_v12.5.mq4' (269,31)
The Multi V10.5 gave me three trades last night in AUDUSD and GBPUSD.

keysharp:
thnx for the update. looks like you had an error with the StopLoss Range being = 0. Strange, cause the logic in the Multi for that particular part is exactly the same. let me know I u continue to not have trades and that error pops up.

I had several trades last nite with v12.5, there was a bug I found but it only affected the takehalf_leaveRestBE. If u had 2 or more pairs open, the bug would only allow the EA to do the TakeHalf_LeaveRestBE, the rest of the pairs would just either hit TP or SL.

If u continue to have that problem I will make a debug print to see wan see exactly what the value of the SL Range is before it gest to that line.

Let me know.
J

The last few versions of MULTI dont seem to be executing the close half BE. Just going straight to 1to1 TP. Which is not a bad thing but I have it set for close half at BE for the runners.

pp22:
I saw that happen last nite with v12.5. I fixed that bug and I am also going to add a Break Even pips or distance/something like that. That way you guys can select how many pips it goes before EA sets BE.

The closeHalf will still be available, but you will also have the choice to tell the EA when to set BE.

I am trying to keep the EA to the lowest possible inputs. The list already in my opinion is long but I am also trying to keep the MM part flexible so you guys can select the best MM options for your risk considerations.

I also want to finish the Candle Stick patterns those look very promising. Like I mentioned the engulfment part is working, I may just release it so we can start using it to make sure that they work.

Stay tuned....

Folks:

I have the updated EAs ready to go with candle patterns and the bugs mentioned, fixed. I still have to update a couple of more patterns but I got several of them working. I was looking at the some of the results and I think this is going to rock!.. I was tempted to release it, but let me finish so we can have all the bells and whistles.

I am testing the option with NO HA nor NO STOCH, just failed pivots and the candle patterns with the upperTrend. Somewhere in the thread Dredding posted two sets of rules. The Newbie rule was like on page 1 but the other rule only required candle patterns, failed pivots, and upperTrend. The EA will contain options to all u guys to use the candle patterns with HA/Stoch as well.

Anyhow this is what I have working so far:

For Trend UP:
BullishEngulfing
OutSideBar
PiercingPattern
HaramiLower
Hammer

Yet to see working:
TweezerBottom
MorningStar
InvertedHammer


For down Trend:
BearishEngulfing
BearishOutSideBar
DarkCloudCover
HaramiUpper
ShootingStar

Yet to see working:
TweezerTop
HangingMan
EveningStar

I know there is alot more patterns but I think these are the popular ones. Besides, I tell you EVERYONE has a different way of defining them. In all of the ones that are working I left the code that was there originally and added my own version of defining these patterns. Crazy...

J

PS: I got a runner on EURUSD and just about to get one on EURAUD on the Oanda Live account.... just waiting to see what happens.

Last night Had 3 good trades on the Multi10.5. No trades taken on 12.5 plus I get the comments on not having an indicator. I thought this ea ran without indicators? Nothing is showing in the expert file, double checked auto trading and reset the ea this morning.

Strange, cause the Multi10.5 also checkz for indicators, if 12.5 says indicators not found so will Multi10.5. Ok OK, I just saw something in the code. This will be fixed on the next update. Do this for now... Hit F3, you will see the GlobalVariables list popup. In there you should see two entries, one is called FreebieIndiNums and the other is called FreebieRequiredIndis, Make sure each has 6 (the number of required indicators). If you see a different number just double click on it and you can enter the number yourself. In the next update there will only be FreebieRequiredIndis.

What I do is make the EA record the number of required indicators in the global variable. The number stays there even if u turn off your machine. So next time u fire MT4 up, it goes to that list and checks to see that 6 (current number of required Indis) is still there and compares it with the number I have in the code. If they are the same that means then no change was made to the list of required indicators, and the EA does not do any checking, it just goes on to run the code. If there is a change, the EA double checks to see how many required indicators there are. If everything is ok then the EA updates the number in the GlobalVariable list so that next time it doesn't have to check them again. Anyhow you get the idea.

Oh and sorry about the confusion, what I meant was that you don't need to have the Freebie indicator on the chart with the EA. The Freebie EA works without it.
However the Freebie Indicator and EA do need the "main" indicators (like 3sema, heiken, etc).

Once u get the number of indi's into the global variable you should see v12.5 working. In v13 and Multi11 this is already corrected.

got it, and all is well, thanks. What! are you doing an all nighter?

i just happened to bump into this thread...i am yet to try the ea. nevertheless i want to thank and appreciate the contribution of people like xmess udine and dredding. . please continue to keep up your good work...God Bless.

keysharp:
Not really. I just woke up and decided to take a peak to see how the account was doing. I ran by the thread and saw your post, so I answered it and fell asleep LOL.

Let me know if v12.5 is still having the indicator issue...

Jess, 12.5 is doing good I am getting trades now. Started a live account yesterday with Tallinex. They don't chatge commission or swap. I have all default except trend and that is 20sma. My risk is 3 since I started the account with $300.

shinewel:
Welcome aboard, I recommend you read the 1st couple of pages (especially page 1), like thru 8 I think and then skip over to pg 300. That's when I returned to the site and started the development of the EA. The latest files can be found here as well as at http://xm7.info/freebie/ea , I always upload the latest.

There are 3 main programs and 6 required indicators. Obviously the 6 indicators go in the /Indicators folder. Of the 3 main programs, u have the Freebie Indicator (which goes in the/Indicators folder) and 2 EAs (Freebie EA and Freebie Multi==> /Experts folder). The Freebie EA was originally only able to work on the 15min timeframe, but now I have verified that it works on the timeframes 5m thru H1. The FreebieMulti has always worked on the timeframes 5m thru W1. I concentrate more on the Freebie EA's development. The Multi EA was just put together and I sort of set it up for the higher TF trading, so I don't know if it works correctly, some folks have been using it and they state that it is working. The Freebie EA will eventually include the H4 and W1 TFs, so at that time the Multi will go away.
As for he Freebie Indicator, it was designed so we could SEE where possible entries are detected. I mainly use it to compare with the Freebie Entries. It can however be used as a an alert. You don't need the Freebie Indicator on the chart when using the Freebie EA. The Freebie EA can work without that indicator. All 3 programs will alert you if u are missing any of the required indicators and it will tell you in what folder to place them.

Oh, and no need to thank anyone. 1st Dredding has disappeared LOL, 2nd Udine is doing his thing on his thread, LOL, and lastly, the only thnx I want to see is the day you post a 1000 pip runner that has quadrupled your account in 1 month. Remember, it's not about the account size, nor profit, nor money, it's about the approach. IF I can give you an approach that works consistently then you have the financial world in your hands, for you can lose every penny the very next day, yet you would calming just get it all back and much much more in no time.

Good. Live accounts are the way to test. Plus starting small is smart. Imagine you get up to $10,000 on that $300, then for whatever reason you blow the $10K. Sure it would hurt, but the reality is you only lost $300 and so u can start again with another $300... Good start.

I also have tallinex, I just don't like that you have to take a picture of yerself with your credit card LOL in order to deposit funds. As you know I am using Oanda with a 50:1 leverage. So if I can make it work on Oanda then it will work on any other broker that has more leverage and less fees.

LOL! I have lost those size accounts and had built them up from about $500. So, I follow you. Tallinex is a pain with the pics. I got moved to them from Finfx when they stopped taking US citizens. I did get a demo from Finfx, which surprized me and I notice that their address now is Cyprus and they apparently are taking US citizens again. The demo is what I am using for the multi 10.5.

Hey guys i'm back been busy with work. I have one question if I only want to take long/buy trades with the EA can I set it like this and it will only take buy trades and ignore the sell trades.

hi, could any coders assist add an option of line chart to the attached overlay indi. help much appreciated. rgds

Checkz:

yep that will work

LIVE ACCOUNT UPDATE:

Broker: OANDA
Pairs: EURUSD, GBPUSD, AUDUSD, EURAUD
Input settings: All default except PercentRisk=3 and UseAutoTrend=_20sma
Other thing I do: I manually start the EA Monday evening PST (around 2AM-3AM Tuesday LondonTime)

It's the middle of the week and so far so good. The EA is making the correct choices. The overall account is in profit for this week. As you guys know the account as taken a good beating in the last two weeks, so it still has a way to go in order to get to the original break even point. I will show all charts and reports this coming weekend.

Right now I can say that the EA is doing very well. However I did notice that there were missing trades (when compared to the indicator) and there were trades that were not supposed to be taken (Two shorts last nite on EURUSD, when trend was up). But in general the "Take half leave rest BE" option handled those none trades and made them profitable.

I got two more Candle stick patterns that I will add to the upcoming EA. Since I saw some errors I will have to go back and test the Trend Detection code to make sure that those errors I saw are taken care of when the new EA goes live.

I have been comparing the taken trades of v12.5 to that what the new EA v13. v13 was setup to detect candle stick patterns. In the majority of times the v13 would of taken the same trade but one or two candles earlier. So that to me looks very promising as it means that we will reach profit quicker.

Stay tune and keep imagining that we are already there... and that all of this development stuff is in the past LOL.
PEACE