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Price Action Trading with Indicators! The Freebie System

  • #7,441
  • Feb 8, 2016 7:00am Feb 8, 2016 7:00am
Good one Jess () , and understood. Thanks for the brief waking moment.
  • #7,442
  • Feb 8, 2016 9:16am Feb 8, 2016 9:16am
I hope that going from 10.5 to 12.5 on the real account was wise because 10.5 is tearing it up this morning. 12.5 had 6 trades and now nothing since about 8:30 EST. But I am in profit by a little bit but then again it is only Monday.
  • #7,443
  • Feb 8, 2016 12:32pm Feb 8, 2016 12:32pm
Quoting keysharp
I hope that going from 10.5 to 12.5 on the real account was wise because 10.5 is tearing it up this morning. 12.5 had 6 trades and now nothing since about 8:30 EST. But I am in profit by a little bit but then again it is only Monday.
Hey. Let me undersrand. U went fron Multiv10.5 to v12.5, right? If so, r u comparing same time frames??Let me know so cause if 10.5 is shredding then I need to see if any of the changes have affected v12.5
Our AWESOME IMAGINATION is the true holy grail!
  • #7,444
  • Feb 8, 2016 12:58pm Feb 8, 2016 12:58pm
Actually I am on m15 with the 12.5v. And as of almost 2:00 EST the real account is up 10% and only one loss this morning. The 10.5 Multi just got a loss and that was because the BE would not kick in. So I am a happy camper at this time.

I have two demos going and I think the 12.5v I will change to 1H time frame. Just to see how it goes. And compare it to the Multi10.5 demo.
  • #7,445
  • Feb 8, 2016 10:31pm Feb 8, 2016 10:31pm
UPDATE:

ALMOST DONE WITH V13. There will be no more Multi version cause v13 can also handle higher Timeframes as well as the 15min of course.
I don't have the indicator working yet for multiple TimeFrame but I am getting close.

Anyhow, as I was testing v13 this morning I noticed problems when it tried to detect candle patterns. At first I thought that I had to go thru each of the code that detects the patterns but then I saw my mistake. It was a simple one. Fixed it and I will let you know how it does. As far as the BE thing, I think that is solved. I tested that in all ways possible and it does what its supposed to do, even if u mess up and put the wrong numbers, the EA will default to no BE with 1to1 target.

Let me run with it a couple of more days and then I'll release it so you guys can tear it apart LOL.

BTW what is the consensus on the just leaving the 3sema and 20sma as trend detection tools? Is the "Secret" sauce I placed in them working??? LOL. Let me know, cause it would be nice to simplify the options. As far as I am concerned only 20sma and 3sema have more success for trend detection, the others have too much lag.

Our AWESOME IMAGINATION is the true holy grail!
  • #7,446
  • Feb 8, 2016 10:32pm Feb 8, 2016 10:32pm
Quoting keysharp
Actually I am on m15 with the 12.5v. And as of almost 2:00 EST the real account is up 10% and only one loss this morning. The 10.5 Multi just got a loss and that was because the BE would not kick in. So I am a happy camper at this time. I have two demos going and I think the 12.5v I will change to 1H time frame. Just to see how it goes. And compare it to the Multi10.5 demo.
DUDE YOU GOT 10% STOP THE EA>> LOL.

Once we get this going I plan to set a limit. Runners will only be attempted if I see that a BE hit will not affect the account balance.

Keep it going man ..
Our AWESOME IMAGINATION is the true holy grail!
  • #7,447
  • Feb 9, 2016 3:16am Feb 9, 2016 3:16am
Hi Guys,

I would like to join the crew to test this EA because I think price action is the only proper way in trading.
I first need to read up on this thread how the strategy and EA works.
But I am excited to help you out! I may come up with some more suggestions...

If you have suggestions from which page I need to start reading, please let me know!

@xmess7: if you want I can provide you with a vps if that makes your development and trading better. Just PM me.

Greetz from the not so sunny but grey and windy Netherlands!
  • #7,448
  • Feb 9, 2016 7:30am Feb 9, 2016 7:30am
Greetings lakoenza. Hope you benefit from all that has transpired and the talk on this thread. Definitely read the first post and page then skip to the end to about 364, that will pretty well bring you up to date to where we are.

As for the demo with 12.5v, I don't beleive it works on the one hour time frame even though the message says so. Haven't had a trade since I changed over from M15 and my other demo on multi10.5 has had several trades.
  • #7,449
  • Feb 9, 2016 11:21am Feb 9, 2016 11:21am
Quoting lakoenza
Hi Guys, I would like to join the crew to test this EA because I think price action is the only proper way in trading. I first need to read up on this thread how the strategy and EA works. But I am excited to help you out! I may come up with some more suggestions... If you have suggestions from which page I need to start reading, please let me know! @xmess7: if you want I can provide you with a vps if that makes your development and trading better. Just PM me. Greetz from the not so sunny but grey and windy Netherlands!
lakoenza:

Welcome aboard. Thank you for offering the vps. I am interested mainly I would like to see what the cost is and how the performance would be running 5 MT4s on a one VPS. Are they dedicated machines or in a shared environment? Anyhow, I'll pm you.

As Keysharp says, read the 1st page. But I also recommend that you look for the posts where Dredding talks about trading with Candle stick patterns. I think you will find that info in the first 8 pages. I am currently about to release a new version that will handles candle stick patterns and I am going to present scenarions to you guys and would like opinions recommendations. Once you have read the first 8 pages (especially pg 1, that contains the core approach that needs not change ), you can dive into the post that Keysharp mentions, but if u are interested I started to post back on Post 300. If you want to follow all the version updates LOL, have at it LOL .
Our AWESOME IMAGINATION is the true holy grail!
  • #7,450
  • Feb 9, 2016 11:24am Feb 9, 2016 11:24am
Quoting keysharp
Greetings lakoenza. Hope you benefit from all that has transpired and the talk on this thread. Definitely read the first post and page then skip to the end to about 364, that will pretty well bring you up to date to where we are. As for the demo with 12.5v, I don't beleive it works on the one hour time frame even though the message says so. Haven't had a trade since I changed over from M15 and my other demo on multi10.5 has had several trades.

keysharp: No trades on H1? Okie dokie. I think v13 will take care of that, cause I combined a lot of the TF for trading that Multi has that v12.5 does not. So just hang in there.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,451
  • Feb 9, 2016 11:51am Feb 9, 2016 11:51am
TRADING NEW VERSION UPDATE.

New EA version 13.
Broker OANDA, Live account . Starting balance for this week: $191.87
Pairs: EURUSD, AUDUSD, GBPUSD, USDCAD, AUDCHF
All defaults (as u have them in the current version) except using:
Candle Patterns (new option)
RiskPercent=3%
MaxStopLoss=50pips (new option)
MaxCandleSize=50pips (new option)
Stochs are not used (as per a Dredding post, I can't remember which on it is).

I also ran a demo on same broker with same v13 EA

Folks:
This week I started the EA last nite, instead of Monday nite (PST). As of this moment the Live account is up to $328.
That's a 13% increase. Since this is testing I am going to allow the EA to continue, otherwise this would be an ideal spot
to close the trades and shutdown the EA for the week.

INTERESTING DIFFERENCES:
First Trade:
Right off the bat, the first trade that the LIVE account took did not match what the Demo Account took. The Live account took a USDCAD Long and the Demo account took at the same time, a AUDUSD short. Both where valid signals cause all conditions where met. However, I found a bug. The StopLoss range on each was larger than what I expected. As an example I saw 38 pip stop on AUDUSD, which should of been a 17 pip stop. I went ahead and fixed the bug and closed both trades since the stops where not correct on both. If the stops had been correct both trades would of ended up with profit cause the "take half and leave rest BE would of done the job". However that does not explain WHY both accounts did not take the same trade. So I need to look into that.

Second Trade:
The Live account took a short on USDCAD(this was before the NY open). All the conditions were met so it was a valid trade.
The Demo account took a long on AUDUSD. All conditions SEEMED to be in place, I say SEEMs cause I slapped on the CandleStick pattern indicator that Eric had provided and it showed NO sign of a candle pattern. I looked at the candle and it looks like the EA mistook it for a Shooting Star. The tail of the candle was there but it also had a lower stem that was not as short as I thought it should be. So I am going to look at the code to see if the Shooting Star code is taking this into account.

CONCLUSION SO FAR:
As you guys know last week I had the account up to 10% and I allowed the EA to continue. The Ea then took trades (some valid others not) that provided losses and had the account fall -11%. That +10% happened on Wednesday, after I had made some adjustments.
Now, this week on the 1st day of the EA being turned on the account has reached 13%. I will allow the EA to continue to see what happens. If we see a similar pattern than this kinda tells you what do, right? I think you know what I am referring to.

RUNNERS (Trades with half profit in pocket and the rest set to BE with no TP):
I have two runners at the moment:
USDCAD: +90 pips
EURUSD +40 pips
Our AWESOME IMAGINATION is the true holy grail!
  • #7,452
  • Feb 9, 2016 4:27pm Feb 9, 2016 4:27pm
UPDATE on LIve ACCOUNT with EA v13
Broker OANDA, Live account . Starting balance for this week: $191.87
Pairs: EURUSD, AUDUSD, GBPUSD, USDCAD, AUDCHF
All defaults (as u have them in the current version) except using:
Candle Patterns (new option)
RiskPercent=3%
MaxStopLoss=50pips (new option)
MaxCandleSize=50pips (new option)
Stochs are not used (as per a Dredding post, I can't remember which on it is).

I also ran a demo on same broker with same v13 EA

I am glad to say that the DEMO and LIVE account are not taking the same trades. Well at least the last 3 trades were the exact same pair and conditions.

Unfortunately LOL, the Live account is now down to -2%. Yep the rapid move the market took the runners down to BreakEVen and with the addition of 2 more trades that took losses the account profit was given back.

Again I am seeing that the stops at the 15min level just can't handle these types of market movements. So my proposal is to expand the stops a little. say another spread. Right now the stops are placed at StopLoss + spread + 1 pips. Would anyone be apposed to StopLoss + 2spread +1 pips? As you know the percentRisk will remain the same, we are just giving it more room to move. I think this is the 4th time I see that a trade that was in the direction of the trend was stopped out due to there not being enuf StopLoss range. Let me know if this would be acceptable. AS far as the upper TFs I don't see a problem with the stops. They usually have enuf room to handle the market moves.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,453
  • Feb 9, 2016 4:58pm Feb 9, 2016 4:58pm
GOOD NEWS!

LOL I like to give good news all the time, even when things don't SEEM to go, I always give great news !! LOL

Anyhow.. The new version of the indicator will be able to handle higher TFs. SO now you will be able to load the indicator on the chart, pick your number of periods (5 weeks, 4 days, 11hrs, whatever your trading period is) and watch were the possible trades would appear.

For me the indicator has been handy to detect where trades should of happened. This coupled with the DEBUG info the EA provides really helps with the testing. part.

Like I said above the OANDA live and demo accounts are now in synch. I still have no idea what happened this morning when they were taking different trades. They were valid trades for each pair that was involved but I would of thought that both trades would of been taken on each account at the same time.

Ok we carry on.. Lets see what happens.... Live account is down -2%.... so far so good........
Our AWESOME IMAGINATION is the true holy grail!
  • #7,454
  • Feb 9, 2016 8:05pm Feb 9, 2016 8:05pm
My real account is up 16% so far this week. I am over the amount I expected to profit for the week. But I must say that I do fudge on the SL when I sense that it is too close. I had previously mentioned that I recalled the comment about pairs' PA movement varying between different pairs and I am seeing that. I also close profit trades when the close half/be takes affect and the 3ZZ semafore pops up before profit target is reached. If I am not at the computer of course none of this is done and frankly I am beginning to learn not to worry about it. That is the goal.

My settings are Trend is 3sema and 3% risk. all the rest are default.
  • #7,455
  • Edited 11:47pm Feb 9, 2016 11:08pm | Edited 11:47pm
Quoting keysharp
My real account is up 16% so far this week. I am over the amount I expected to profit for the week. But I must say that I do fudge on the SL when I sense that it is too close. I had previously mentioned that I recalled the comment about pairs' PA movement varying between different pairs and I am seeing that. I also close profit trades when the close half/be takes affect and the 3ZZ semafore pops up before profit target is reached. If I am not at the computer of course none of this is done and frankly I am beginning to learn not to worry about it....

So u are saying that you are basically only getting 1.5% profit per trade that is fully closed?
Any recommendation on how we can control the SL situation? Perhaps base SL on some candle average for the pair?
I like the 3zz semafore thing. I can add that when the EA is monitoring the trade.

Anyone else? Recommendations? Ideas?

EDIT:
Basically we are now dealing with:
- how EA should handle size of STOPLOSS for a given PAIR and TIMEFRAME
- how EA should handle the 3SEMAFOR just as KeySharp describes.

These concerns are the things that we can use to protect the account under a live conditions.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,456
  • Feb 10, 2016 1:21am Feb 10, 2016 1:21am
Quoting xmess7
{quote} shinewel: I took a quick look and I can see how to modify the indicator to show what you want it to show. But I'll leave that for a later time, right now I am concentrating on the EAs next update. I think you will like the news the I am going to make this weekend. It's when I report the status of the live account I am running. I did quick search and I did see what looked to be this same indicator but with the LINE option instead of the BAR option, just as you want. I recommend you try and search. If you can find something similar that sort...
thank you so much xmess....i did manage to find something for the line chart....look forward to your improved ea...nice day
learn and earn from the ups and downs...of life.
  • #7,457
  • Feb 10, 2016 6:31am Feb 10, 2016 6:31am
Quoting xmess7
{quote} So u are saying that you are basically only getting 1.5% profit per trade that is fully closed? Any recommendation on how we can control the SL situation? Perhaps base SL on some candle average for the pair? I like the 3zz semafore thing. I can add that when the EA is monitoring the trade. Anyone else? Recommendations? Ideas? EDIT: Basically we are now dealing with: - how EA should handle size of STOPLOSS for a given PAIR and TIMEFRAME - how EA should handle the 3SEMAFOR just as KeySharp describes. These concerns are the things that we can...

One issue you run into is the 3SEMAFOR can show up and just keep repainting, so you might take yourself out of a trade way too early.

I've been using trendalt_alert.ex4, if you're long and it goes negative, exit the trade, opposite for sell. I think I show you this indicator a few weeks ago Jess. Anyone else have a good "exit" indicator?
Attached File(s)
File Type: mq4 trendalt_Alert.mq4   4 KB | 170 downloads
  • #7,458
  • Feb 10, 2016 7:51am Feb 10, 2016 7:51am
Quoting dallmanb
{quote} One issue you run into is the 3SEMAFOR can show up and just keep repainting, so you might take yourself out of a trade way too early. I've been using trendalt_alert.ex4, if you're long and it goes negative, exit the trade, opposite for sell. I think I show you this indicator a few weeks ago Jess. Anyone else have a good "exit" indicator? {file}
dallmanb: I took a look at the code and I don't remember seeing this one. I looks like it is basing the trend on highs and lows. I am going to add it to the charts and also add my special trend selection sauce LOL and see how effective it is.

What I was referring to, concerning the 3semafore, is how KeySharp would close a trade (losing/winning) when he saw an opposite 3sema dot show up on the current candle. I wanted to get a consensus as to if this was an acceptable way to exit a trade that may yield minimal loss.

We are now getting to the point were we will just discuss MM and protection schemes....
Our AWESOME IMAGINATION is the true holy grail!
  • #7,459
  • Feb 10, 2016 7:57am Feb 10, 2016 7:57am
Last night was not benevolent at all. Two trades in the live account resulted in a 12% loss. Thank goodness the account is still in profit. This morning trades seem no better. Closed two trades that were going wrong. Good thing. Also the 3% risk is a killer and I have gone back to the 1%.

Jess, Are we missing opportunities for good trades by not trading when the yellow dot is present. As I look at the charts, it seems that trades are taken more frequently off of the #1 and #2 semifore and not very often off of the #3 yellow dot. And the yellow dot will be the beginning of any directional move 99% of the time. So I see this as a missed opportunity.
  • #7,460
  • Feb 10, 2016 8:03am Feb 10, 2016 8:03am
UPDATE on LIve ACCOUNT with EA v13
Broker OANDA, Live account . Starting balance for this week: $191.87
Pairs: EURUSD, AUDUSD, GBPUSD, USDCAD, AUDCHF
All defaults (as u have them in the current version) except using:
Candle Patterns (new option)
RiskPercent=3%
MaxStopLoss=50pips (new option)
MaxCandleSize=50pips (new option)
Stochs are not used (as per a Dredding post, I can't remember which on it is).

Folks:
I am getting close to filtering as much bugs I can find on the EA. The majority of the bugs I am finding are in the code for the Candle Patterns. Unfortunately some of the code for the patterns is incorrect when determining if the pattern is there. I have already re-written some of it, but in order to make sure that this part is working I am going to go over each of the patterns and ensure that the code is correct.

Other than that... I just need to check that the EA and Indicator can handle trading in different time frames other than the 15min. As you can imagine after v13 we will only have one EA and one Indicator.

The Live account is down now about 10%.
This is now mainly due to missed trades that the EA did not correcting detect as candle patterns, the trades would of been profitable.

Oh another thing I noticed, with the EA looking for candle patterns and not using stoch, there are less trades. So don't be surprised if when u use v13 and see no trades for a day.

I am considering applying this to one pair. It seems that if I had the EA on one pair that the overall profit/loss ratio would be alot better. Just an observation.

Oh, one nice thing about the indicator is that what u see is what you get. In other words the arrows showing the entries are NOT a product of REPAINTing indicators. About the only thing you will see is trade signal arrows that do not appear even though there is a trade. This is due to the 3sema being erased after either a new low or high is developed. But after that what u see is what should happen in the trading environment. Now the only trick is to get the broker's server to follow this EA's instructions LOL..
Our AWESOME IMAGINATION is the true holy grail!
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