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Price Action Trading with Indicators! The Freebie System

  • #7,681
  • Feb 28, 2016 12:40pm Feb 28, 2016 12:40pm
UPDATE v13.3

Folks:
I have determined what the real cause of the "wrong pivots" error was. Plus we are going to avoid another problem as well.

The attached fixed now will without fail detect the correct pivots and the correct trend....
Yes, u guessed it, the previous EA was also detecting the previous days trend. Of course as long as the trend was the same no problem. So it was not that evident.

There is still one adjustment I will make,I will discuss this later, but for this week use this version.

As always all updated files can be found at http://xm7.info/ea/freebie
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v13.3.ex4   122 KB | 143 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #7,682
  • Feb 28, 2016 1:21pm Feb 28, 2016 1:21pm
The PLAN for this coming week.
Starting this week, I am going to change one more input.
weekly_profit_percent_stop=15

I will also be employing my tactic. If when I see the account profit go above 10% I will close the account and stop trading for the week.
So either the EA hits 15% or I close it if I see profit greater than 10%. Usually I do not do this cause when u trade on the higher TFs there is more room to work with but at these lower levels that seems to be a challenge, so best thing is to close it while ahead. One except, runners will be allowed to continue, only if they are above 100 pips in profit.

I will also be running the EA on several platforms (demos). These are the demos that some of you provided, this will give me the opportunity to see for myself what is happening on those other platforms.

Now let me explain something.. 13.3 has the fix that I mention and I am confident that the problem is solved (cause it was tested). In my EA copy I will also have the FIX however, the calculation of the pivots will not be from candle to candle. I am checking to see if I can have the calculation of the pivots back to where it was before. The original idea was to have the pivots calculated only ONCE, when the day opened (or week, whichever higher TF u r using). I will be testing this. If it is successful then I will release v13.4 with this incorporated into it. Why? Cause every millisecond counts when taking the trade. By making the EA calculate the pivots every start of a candle you take away those milliseconds.

Ok, now I take a break, have some fun and wait for tomorrow nite to start the show...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,683
  • Feb 28, 2016 9:45pm Feb 28, 2016 9:45pm
Quoting xmess7
The PLAN for this coming week. Starting this week, I am going to change one more input. weekly_profit_percent_stop=15 I will also be employing my tactic. If when I see the account profit go above 10% I will close the account and stop trading for the week. So either the EA hits 15% or I close it if I see profit greater than 10%. Usually I do not do this cause when u trade on the higher TFs there is more room to work with but at these lower levels that seems to be a challenge, so best thing is to close it while ahead. One except, runners will be allowed...
Thanks Jess, will be testing all week!
  • #7,684
  • Feb 29, 2016 12:08am Feb 29, 2016 12:08am
EA UPDATE for Brokers that DO NOT have a Sunday Candle.

For those of you that are using a broker that has no Sunday Candle use the attached EA.
I saw a problem with FXCM and FXDD. For now I made a separate EA that handles the no Sunday affect.
If you use v13.3 the EA will not read the correct Trend nor Pivots.

As soon as I can figure out what is happening the EA will be split.
So v13.3 is for brokers with a candle
and 13.3_NoSunDay is for brokers with no SundayCandle.
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v13.3_NoSunDay.ex4   122 KB | 156 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #7,685
  • Feb 29, 2016 9:19am Feb 29, 2016 9:19am
It's 10:00 AM Monday morning and it looks as if we are getting the EA we are looking for. Live account is up 3% and there are 8 hrs left in this day. The 3sema setting seems the better. The demo setting is 20sma and it is doing well just not as active as the Live account.
  • #7,686
  • Feb 29, 2016 11:03am Feb 29, 2016 11:03am
Quoting keysharp
It's 10:00 AM Monday morning and it looks as if we are getting the EA we are looking for. Live account is up 3% and there are 8 hrs left in this day. The 3sema setting seems the better. The demo setting is 20sma and it is doing well just not as active as the Live account.
What pairs are you trading, Key? And are you on the 15 min or 1 hr timeframe?
  • #7,687
  • Feb 29, 2016 11:11am Feb 29, 2016 11:11am
Quoting Superpmf
{quote} What pairs are you trading, Key? And are you on the 15 min or 1 hr timeframe?
I am on the hourly time frame with both the live account and the demo. My pairs are Gold, EURUSD, GBPUSD, USDJPY, and AUDUSD included in the live account.
  • #7,688
  • Feb 29, 2016 11:17am Feb 29, 2016 11:17am
UPDATE on DEMO ACCOUNTS

I already have the Fixes for the following issues . As soon as I get a chance I will integrate and post the new EA

1. FXDD, FXCM, FXPRO
These platforms do no use a Sunday Candle. The problem was that the EA was testing for a Sunday Candle when it should not have. Thereby the pivots would be calculated using Thursday data instead of Friday's data. This did not affect the EA if u where using a upper TF greater than D1. Easy Fix...

2. Tallinex, TradeKing
The trend on these was being calculated incorrectly. Both of these brokers start at GMT-8. I noticed that their number of candles for Sunday was different than what was on Oanda. Anyhow the trend was being calculate incorrectly. I have not really found out the fix but when I applied my version of the EA the correct trend started to show up. So the fix is somewhere in the debug version. I should be able to find it quickly.

OK here's a question for those of u that use broker with no Sunday candle. Do you want the EA to start to trade immediately or do you want the EA to wait a # of candles before starting. The # of candles would correspond to what the Brokers with Sunday candles have. For now I will leave the EA to start immediately trading.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,689
  • Feb 29, 2016 11:47am Feb 29, 2016 11:47am
Oh I am exclusively using 15 min on all Live/Demo accounts.

Here's a brief on the standings. Remember all profit is determined from the start of the week.

Oanda live = below Profit
Oanda Demo (using Patterns no Stochs) = profit.
FXCM = Profit
FXDD = Profit
Tallinex = below Profit
TradeKing = below Profit
FXPRO demo (trading stocks only) = profit

Oh another thing I notices was that in the NoSunday brokers the calculation of the lotsize was incorrect. The lotsize was a lot smaller than expected for a 3% risk. So I need to figure that one out as well.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,690
  • Feb 29, 2016 11:55am Feb 29, 2016 11:55am
Here is a situation that I have run into a couple of times in that the trade was taken appropriately but an opposing dot appeared and the trade was not closed. I was lucky so far in that the trades I was able to close manually while still in profit.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYecnH1.png Size: 38 KB
  • #7,691
  • Feb 29, 2016 11:58am Feb 29, 2016 11:58am
Actually I change my mind, I think. The PA will continue to go down I assume until it hits the lower yellow dot. But first a retrace from the green dot will occur and then the trade will resume in profit and hopefully close out as such.
  • #7,692
  • Feb 29, 2016 12:07pm Feb 29, 2016 12:07pm
Quoting xmess7
Oh I am exclusively using 15 min on all Live/Demo accounts. Here's a brief on the standings. Remember all profit is determined from the start of the week. Oanda live = below Profit Oanda Demo (using Patterns no Stochs) = profit. FXCM = Profit FXDD = Profit Tallinex = below Profit TradeKing = below Profit FXPRO demo (trading stocks only) = profit Oh another thing I notices was that in the NoSunday brokers the calculation of the lotsize was incorrect. The lotsize was a lot smaller than expected for a 3% risk. So I need to figure that one out as well....
So how much has your oanda live acct lost so far?
  • #7,693
  • Feb 29, 2016 12:58pm Feb 29, 2016 12:58pm
Superpmf:
the Oanda Live account is about at -0.5% profit ,I think, very small. The EA got into the Short of EURAUD (which is a runner on the other demos like FXCM and FXDD), but it didn't run cause it was closed out at BE. Then the EA attempted another short on EURAUD and it got stopped out due to a green dot showing up.

This I expect. I expect other brokers to have similar but different results like in this case. Due to the price feed Oanda Live actually got in earlier than FXCM or FXDD, but then price retraced and hit the BE. Where as for FXCM and FXDD there was no retrace price just kept going down.

Remember this is based on the beginning of this week.
I still have AUDUSD as a runner... and I am still up from last weeks start.

So far the result are as expected. just need to fix some of the issued I saw with the demos you guys provided.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,694
  • Feb 29, 2016 1:02pm Feb 29, 2016 1:02pm
Quoting keysharp
Actually I change my mind, I think. The PA will continue to go down I assume until it hits the lower yellow dot. But first a retrace from the green dot will occur and then the trade will resume in profit and hopefully close out as such.

keysharp:

This is another thing I want to discuss. the EA right now is setup to close the trade IF the opposite dot is found on the SAME candle and the -BUFFER has been triggered. So if the -Buffer is not triggered and we go on to a new candle. Even though there is an opposite dot on the previous candle the EA will ignore it. so in effect we can have price hit stop loss even though there is a green dot on the previous candle.

So question, should the EA also be aware of a opposite Dot that is on the previous candle??

I am starting to think yes... cause this minimizes the risk..
Our AWESOME IMAGINATION is the true holy grail!
  • #7,695
  • Feb 29, 2016 2:35pm Feb 29, 2016 2:35pm
Quoting xmess7
{quote} keysharp: This is another thing I want to discuss. the EA right now is setup to close the trade IF the opposite dot is found on the SAME candle and the -BUFFER has been triggered. So if the -Buffer is not triggered and we go on to a new candle. Even though there is an opposite dot on the previous candle the EA will ignore it. so in effect we can have price hit stop loss even though there is a green dot on the previous candle. So question, should the EA also be aware of a opposite Dot that is on the previous candle?? I am starting to think...
In my opinion yes. The previous dot should be considered not so much if it is a red or green but if it is a yellow. With a red or green you will get an up and down movement to the opposit yellow but the yellow will change the direction of the PA movement and more frequently close a trade in a big loss.
  • #7,696
  • Feb 29, 2016 2:44pm Feb 29, 2016 2:44pm
By this screenshot I see that the two buy trades should have been left alone since the yellow dot was above the first arrow and moved up so the first trade would have closed in profit. and the second probably will also.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDecnH1.png Size: 17 KB
  • #7,697
  • Feb 29, 2016 3:15pm Feb 29, 2016 3:15pm
Quoting keysharp
By this screenshot I see that the two buy trades should have been left alone since the yellow dot was above the first arrow and moved up so the first trade would have closed in profit. and the second probably will also. {image}

Oh I see u mean the #3 dots are the ones that should be considered. Leave alone the #1 and #2 dots. Is that correct?

So are u sure that the dot as a Yellow (#3) dot at that instant?? That is the real question. Cause I too have seen when a #1 or #2 pop up and then you have price go in the other direction just like as if they were a yellow (#3) dot.

J
Our AWESOME IMAGINATION is the true holy grail!
  • #7,698
  • Feb 29, 2016 4:36pm Feb 29, 2016 4:36pm
Jess, I think there should be a blanket treatment of contrary dots no matter what color.
  • #7,699
  • Feb 29, 2016 6:12pm Feb 29, 2016 6:12pm
Quoting keysharp
Jess, I think there should be a blanket treatment of contrary dots no matter what color.
Agree. My view is that even if you get a bunch of small losers (smaller than if it hit stop loss), that eventually the good trades or even runners will show up and make up for them. This is something that I use a lot on the upper TFs.

The only drawback is that at these lower TFs price will and does take your SL.

Expect an update tonite.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,700
  • Feb 29, 2016 9:28pm Feb 29, 2016 9:28pm
I like the 1 Hr time frame.
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