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Price Action Trading with Indicators! The Freebie System

  • #7,821
  • Mar 7, 2016 5:30am Mar 7, 2016 5:30am
Quoting xmess7
{quote} phil: yep, We r looking into the support/resistance thing. . We'll gt to that soon...remind me if we dont see something by the end of next week.

Has anyone tried the support/resistance indicators provided by some people here on ForexFactory? I just googled "support/resistance indicator forex factory" and it led me to a thread containing several files. Perhaps one of those would be beneficial to this EA...
  • #7,822
  • Mar 7, 2016 6:03am Mar 7, 2016 6:03am
One of the threads that I favor is the JAmes16 thread. In there they provide a real good example of how to develop the support/resistance lines.

Aside from considering what we find, I plan to see if I can automate the example they provide.

I use to think that drawing the support/resistance lines depended on the person and what they saw. For a long time I could not understand why a user would draw this line when there was also that line and that other line etc etc. I thought it was totally subjective. But not to long ago I took a deeper read at one of the examples in James 16 and I GOT IT.

I haven't had time to mess with the idea but I did try this a couple of times on the H4 TF. Below is an example of this technique.

1st I draw the supp/resistance lines manually
then I look for candle patterns around the those lines.

Check out the result of the EURAUD... nice 1200 pip run...

EDIT: Oh in addition we could use the failed pivot concept, in this case it would be a failed supp/resis line.
I see 2 failed levels that could be add ons.. do u see them? Kewl no?
Attached Image (click to enlarge)
Click to Enlarge Name: james16_EURAUD_sample.jpg Size: 205 KB
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  • #7,823
  • Mar 7, 2016 6:41am Mar 7, 2016 6:41am
Hi Jess, must say that graphic looks delicious...Am still following closely and like where it is going...I am a bit tied up with work at the moment so have not been running the ea, but looking forward to testing maybe this week 1 hour E/U G/U 20sma candles/no stoch Default. Peace
  • #7,824
  • Mar 7, 2016 6:54am Mar 7, 2016 6:54am
Quoting xmess7
One of the threads that I favor is the JAmes16 thread. In there they provide a real good example of how to develop the support/resistance lines. Aside from considering what we find, I plan to see if I can automate the example they provide. I use to think that drawing the support/resistance lines depended on the person and what they saw. For a long time I could not understand why a user would draw this line when there was also that line and that other line etc etc. I thought it was totally subjective. But not to long ago I took a deeper read at one...
can you share the indicator that show the dots please. Thank you
  • #7,825
  • Mar 7, 2016 11:37am Mar 7, 2016 11:37am
Quoting nunez1
{quote} can you share the indicator that show the dots please. Thank you


nunez1:
The indicator is the 3sema. you can use the regular one or the one I modified (it's on the attachments of this thread)..
But be aware, I do not need that indicator to do what I did on that chart. I just had it on for reference... in other words it gives me a visual of where to put a stop.

So just be aware of it ok and as you probably already know, the 3sema WILL recalculate (Repaint). So where there was a dot then there was no dot....

Good luck
Our AWESOME IMAGINATION is the true holy grail!
  • #7,826
  • Mar 7, 2016 11:40am Mar 7, 2016 11:40am
Quoting xmess7
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...
Does the -1 on 3semafor detection being ignored by the EA mean that it ignores when an opposite semafor appears and it does not close the trade.
  • #7,827
  • Mar 7, 2016 11:41am Mar 7, 2016 11:41am
Quoting Pazharris
Hi Jess, must say that graphic looks delicious...Am still following closely and like where it is going...I am a bit tied up with work at the moment so have not been running the ea, but looking forward to testing maybe this week 1 hour E/U G/U 20sma candles/no stoch Default. Peace

Pazharris: Take your time. Perhaps by the time u start to run it we'll have it nailed down.
My perspective is that we are not trying to make a perfect EA, we are trying to control the losses to the point that the EA can just live with small losses until the runners appear. This would be ideal cause it would essentially help the EA ride the moments when there is severe ranging. I say severe cause there are moments when the range period is not that severe, then the EA could make some profit during those times plus the trend.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,828
  • Mar 7, 2016 11:43am Mar 7, 2016 11:43am
Quoting xmess7
One of the threads that I favor is the JAmes16 thread. In there they provide a real good example of how to develop the support/resistance lines. Aside from considering what we find, I plan to see if I can automate the example they provide. I use to think that drawing the support/resistance lines depended on the person and what they saw. For a long time I could not understand why a user would draw this line when there was also that line and that other line etc etc. I thought it was totally subjective. But not to long ago I took a deeper read at one...
Just want to make clear that my intention is to use the approach they have for determining sup/res and add it to this EA. That I want to automate their approach is a totally different thing, that I will take on later on LOL...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,829
  • Mar 7, 2016 11:44am Mar 7, 2016 11:44am
Quoting Checkz
{quote} Does the -1 on 3semafor detection being ignored by the EA mean that it ignores when an opposite semafor appears and it does not close the trade.
Yes, -1 means totally ignore that condition. So no trade should be closed due to an opposite 3sema dot appearing.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,830
  • Mar 7, 2016 11:46am Mar 7, 2016 11:46am
Quoting xmess7
{quote} Yes, -1 means totally ignore that condition. So no trade should be closed due to an opposite 3sema dot appearing.
Thank you
  • #7,831
  • Mar 7, 2016 11:53am Mar 7, 2016 11:53am
thanks Jess, I have just updated my indicator to 11.4 and ea 13.7..I am running it on pairs I mentioned and 1h tf, will keep the risk to 1% for now, good work dude, cheers
  • #7,832
  • Mar 7, 2016 12:25pm Mar 7, 2016 12:25pm
I have the tp set to daily average but it looks like 1 to 1 to me
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (70).png Size: 74 KB
  • #7,833
  • Mar 7, 2016 1:38pm Mar 7, 2016 1:38pm
Quoting xmess7
{quote} nunez1: The indicator is the 3sema. you can use the regular one or the one I modified (it's on the attachments of this thread).. But be aware, I do not need that indicator to do what I did on that chart. I just had it on for reference... in other words it gives me a visual of where to put a stop. So just be aware of it ok and as you probably already know, the 3sema WILL recalculate (Repaint). So where there was a dot then there was no dot.... Good luck
ok, thank you
  • #7,834
  • Mar 7, 2016 2:23pm Mar 7, 2016 2:23pm
Quoting Checkz
I have the tp set to daily average but it looks like 1 to 1 to me {image}
Thnx checkz,, I'll recheck to see what the issue is.
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  • #7,835
  • Mar 7, 2016 2:25pm Mar 7, 2016 2:25pm
Quoting Checkz
I have the tp set to daily average but it looks like 1 to 1 to me {image}

Check I forgot to mention. Slap on the Market Panel Display Controller, I just want to see on your chart where the Daily Average levels are.
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  • #7,836
  • Mar 7, 2016 2:40pm Mar 7, 2016 2:40pm
Quoting Checkz
I have the tp set to daily average but it looks like 1 to 1 to me {image}


Nevermind Checkz, I found the issue. The EA is supposed to only default to 1to1 if the higherTimeFrame is not D1. Well in the EA I had the right idea but using the wrong timeframe.


The EA has the code such that:
IF the higherTimeFrame < H4 then use the DailyAverage else use default (1to1)
Well DUHH!! That doesn't do what we want it to, right? LOL As long as your higherTF is greater than H1 it will never meet the condition. so it defaults to 1to1. I meant to write IF CurrentPeriod < H4 then use DailyAverage.


What I'll do I'll just change it to this :
IF the higherTimeFrame = D1 use the DailyAverage.
That way we make sure that the EA only provides a daily average if the higherTF Is on D1.


I'll do that as soon as I can and upload the update. Thnx for the catch checkz.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,837
  • Mar 7, 2016 3:06pm Mar 7, 2016 3:06pm
EA v13.8 update
fix to usaDailyAverage as target profit
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v13.8.ex4   123 KB | 171 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #7,838
  • Mar 7, 2016 5:22pm Mar 7, 2016 5:22pm
Jess,

I decided to update my Freebie Indicator to the latest version that aligns the arrows better. When I attached that indicator, it crashed Metatrader and every time I would try to open Metatrader, it would crash again. I removed the indicator and now it works fine.

Can you look into this please?

Many thanks
  • #7,839
  • Mar 7, 2016 5:45pm Mar 7, 2016 5:45pm
Nevermind....I clicked the wrong file.
  • #7,840
  • Mar 8, 2016 10:03am Mar 8, 2016 10:03am
Quoting Superpmf
Nevermind....I clicked the wrong file.
Superpmf:
Yep, the older freebie indicators were not coded to minimize the cpu usage when using the 3sema indicator. That indicator if used incorrectly will take up a lot of cpu or memory resources.
Our AWESOME IMAGINATION is the true holy grail!
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