Price Action Trading with Indicators! The Freebie System

here is a curious and interesting item: a message at the top on why a trade was not taken. First time I have seen this.

Here is another example of a closed opposite dot trade and an immediate trade entry in the opposite direction.

Do you have the:
Test TradeOn_AverageRange = Yes ?

keysharp those are good catches but I think its due to the volatiliy.

I like the approach but you know, the volatility is helping this right? The chart below shows an example of where doing this may of causes more loss than what is shown on the chart. That's why we need to figure out a way to minimize a trade when it is in a losing state. Cause if we use regular stops or whatever the EA will just follow orders and execute and close and etc.

The chart below shows a couple of trades where we could of used the technique but as you can imagine there would of been more losers added to those 4 losses that are already there.

Here's my initial consideration.

Yes have the EA create an opposite trade BUT only consider it if there is a previous #3 or big yellow zzdot.

Forgot to mention u can use the Market Control Panel to see where the Average Daily Range levels are at.

The item is checked as NO.

Using the yellow dot would be the safest.

I understand your example of what you are saying.

Hello, I'm two weeks that does not open any position, this and previous versions, I have the default settings, also send mail, I do not receive any email. What can it be?

gianniko:

hey gianniko:
Make sure u have the Live Trading check in all your options.

Or look at your EXPERTS tab. If you see a message that reads :"Divide by zero error"

If that is the case then do the following:

- Click on F3 (or click on Tools==>>GlobalVariables)
- A global variable list will appear:
- Look for "Freebie_initBal"
- If it does not exist then click on the ADD button and add it.
- Make sure that it has a number greater than zero, You can set it to any number you want.
But preferably if you can remember, add your balance as it was at the start of Sunday.
- reload the EA

I'll have a fix for this soon.

ok, I'll check this out.

Jess the message is no longer there.

Keysharp, how much did your live acct gain before this morning?

I still need to check it. you should not get that message. It may be a mistake I made that when u are on a diff TF other than 15min that the message is printed no matter if u do or don't... No biggy though. As a long as it does not stop the EA.

I found the possible error and yes it will stop the trade.

Tell me what setting do u have for Target_TakeProfit=??
is it _1to1 ?

This is the result for the week for the live account but note that about Wed. I put in an additional 200 to close out the long lasting trades, which i have decided not to close out. I expect to have a better week next week.

here is a pic of my platform and as you can see next week has bright prospects.

Quick report on Accounts, some observations, and an interesting idea:

FXDD: -33%, 74 Trades with 1 runner @ +278 pips, if no runner -43%
FXCM : +2.5% 40 trades with 2 runners (@ about +797 pips combined), if no runners the loss would be -20%
TRADEKING: +7.3% 62 Trades with 1 runner (@ +282 pips), if no runner the loss would be -18%
TALLINEX: -25% 55 Trades with 1 runner @ +281 pips, if no runner -35%
Oanda Demo: +16% 17 Trades with 1 runner @ +448 pips, if no runner -8.4%
Oanda Live: - 19% 35 Trades

Observations:

1. To many trades were taken, thereby exposing the account to too much risk
Even though the losers were 20% of the full stop, the sheer amount added up to considerable loss.
Especially on the live account, there were many trades that were stopped out at BE, whereas in the demo these trades continued to be great runners.

2. On the Live account I changed to Candles=Patterns. This change slowed down the barrage of trades cause of how selective the conditions were.
I am going to continue using this setup plus I am going to move it up to the H1 TF.

3. The Oanda Demo account Ended up with a 16% profit and with a runner that is just about at 448 pips. Now if the runner had not happened, the demo account
would of had a loss of about -8.4% loss for the week. There are a total of 17 trades total for the week (see below). Of the 17, 3 must of been full
stop losses. Then there were 9 that look like smaller losses (20% of full stop range). Finally there are 6 winners, 1 runner and 5 small winners. There are
several conclusions and possible adjustments but in the end we need to get the trades down and control those full stop losers. Maybe that is where we can
have the EA take a trade in the opposite direction, exclusively when there is a full stop loser.

4. The most obvious observation is that the trades just don't have enough room to move at the lower TFs. At the higher TFs that is not a problem.

Here's the interesting part:

I took a look at the trade activity of a couple of accounts and I grouped the trades by symbol. Then an idea occurred to me. What if I had just set the EA on one pair? I then proceeded to add up each symbols totals. So what I saw was that some pairs despite no runners they would of produced a small gain. Other pairs would of produced a loss of about -4 to -8%. So if we would of just placed the EA on ONE pair the results would be much improved. So then I went back to each of the charts for that pair. In my mind I removed the opposite 3sema condition and went about going thru each trade. In most of the cases one runner would show up and it would put the account into good profit. GBPUSD was the only one that ended up with a loss of -6%.

So this is what I will do next week. For FXCM and FXDD I will place the EA on just one pair (EURAUD). I will keep the inputs at default except risk=3 and I will take half lots and leave rest BE. I will remove the opposite 3semadot condition, to allow the trade to move.

Try it yourselves. Look at your history tab and group the trades into pairs. Then count each of the total profit per pair. Then go back to the chart of any pair and place the trade arrows. Now go thru each trade and see how it performs, assume that the opposite 3sema dot is not used, and take half profit leave rest BE.

Jess, can you post an updated EA that provides an option to turn on/off the opposite dot detection?

Can you also add the code that takes into account the daily moving average ? You spoke of doing this earlier.

EA Update v13.7

This update includes the following:
-New input that controls buffer size for opposite 3sema dot detection. (See image)
You can now relax or tighten the amount of pips that price can move before it is closed due to an opposite 3sema dot appearing
The input value is percentage. The default is 20 percent. The percentage applied to the stop loss range.
If you enter -1 then the opposite 3sema detection is ignored by the EA

-Added a fix to avoid the "Divide by zero" error

-Added a fix so GetTarget defaults to Next Pivot Line (Keysharp recently had an error where the EA acted as if
he had selected the get profit target to be the Daily Average)

-Placed the calculation of pivots back to original spot. The prior fix did the job, all of last week on all
brokers the right pivots were being seen by the EA.