Price Action Trading with Indicators! The Freebie System

keySharp,
While you are at it download Mikogo at:
https://www.mikogo.com/download/

You can install that later. With this I can share my desktop so you can see exactly what I am trying to show you. OR vice versa you can do the same.

Jess, here is that book: "Technical Analysis", second edition, by Charles D. Kirkpatrick and Julie R. Dahlquist. You can get it thru Amazon.

Awesome.. thnx....

Testing EA v13.9 (includes Zig Zag condition)

Result: 38.76% profit in 9 trading days
Simple setup. AUDUSD, 15minTF
Ha Candles
Risk 3%
Target 1to1
Set BE at 50% (no lots are closed).
From Mar 1, 2016 - Mar 11 2016 (only 9 days of trading)

Few trades but one was a runner... with full lots since no lots are closed when BE is set

More Testing Mar 1 - Mar 11 2016 (9 days)

EURUSD, GBPUSD, EURAUD
Ha Candles
Risk 3%
Target 1to1
Set BE at 50% (no lots are closed).

EA testing 13.9 Period (Jan 1 - Mar 11 2016)
EURUSD, AUDUSD, GBPUSD, EURAUD
Edit: Sorry I forgot to write down the input settings.

Looks like the EURUSD above is a loser right???
Well many trades went to break even and there were several that were good runners. Just like below.
So the POWER is in the USER closing out the trade LOL

Testing EA v13.9
EURUSD Jan 1 to Mar 11 2016
Candles = HA Candles
UseAutoTrend=_3sema
Select_BE_Type = NoBE
Target_TakeProfit= 2to1

Testing EA v13.9
Jan 1 to Mar 11 2016
Candles = HA Candles
UseAutoTrend=_3sema
Select_BE_Type = NoBE
Target_TakeProfit= 2to1

AUDUSD, GBPUSD, EURAUD
hmmm, notice how the curve returns to profit?? hmmm...

Ok enough testing for now LOL.

EA v13.9
Changes.
-UseAutoTrend now only has 3 options _3sema, _20sma , and None
-ZigZag condition is included (also added to upper TF when using 3sema)
-opposite 3sema dot detection REMOVED
-Default input for Select_BE_Type= NoBE
-Default input for Close_xPercent_Lots_at_BE = No

Update EA v14

I started the EA and saw a problem. Fixed it. Please download this and disregard v13.9
EDIT: I attached a preset file. Rename freebie_set.txt to freebie.set and place it in the folder MQL4/Presets
When u fire up the EA hit the LOAD button when u see the INPUTS window. Load the Preset and that will setup all the inputs.
I left the Risk at 1% you can change that to your liking.

Thanks, I'll replace the EA on my charts and see how it goes.


Thanks for all your hard work.

One minor detail about the order placement. I don't know what the actual trigger for taking a trade in the H1 and upper time frames, but I sense that the time between the semas dot and the actual trade is too long. Like in this example the green dot shows up and is met with the ZZ and correctly there is an up arrow but about two hrs later and when the trade takes place it has been three hrs and nearly at the point where it needs to be closed.

Well so far I havent been to lucky with v14. Two trades taken and both full losses, with default preset settings. Im going to change it to 20ema and 1to1.

keysharp:
Do you mean that we should consider opening the trade when the 3sema and ZigZag meet?

pp22:
Tell me the pairs with the loss (or show chart). Also remind me of the broker u are using, I should have the demo already but remind me.

Folks:
This is the real issue... it's detection of the upperTF. Sometimes the 3sema works perfect... other times its the 20sma.

So here is a possible solution we could consider:
Whenever the upper TF has a retrace when compared to what initially the EA thought was the Trend... NO TRADES.

That should cut down a lot of the losing trades. So now you think "Well then that means less trades". There are two possible solutions to this. One, go down to a lower level (5min) or use more pairs.

Comments? Let me know.

OH and I will be updating the EA to v14.1. For those of u that have the EA working (placing trades) you can wait tell later to update to it. The update is for those folks that get a divide by zero error. Sorry about that, as I was removing the opposite3dot thing I also removed the fix for the zero divide..

Yes, on the close of the next candle.

Closing out today, I am up 5.4%. Was hoping for 10% but I let the old EA and the New EA take trades amongs some manual ones. So, I have an inventory of to be closed eventually trades. I also removed SLs' on many EA trades because the trades entered too late and I am fairly certain that they will turn into profit.
The pic of a chart shows what I have been doing fairly well. The sell trade came in and closed in profit then a buy was placed by the EA, but it would have gone to SL but I took off the SL and as you can see the PA is turning. So the next leg of ZZ should be up the chart and eventually the trade will go to profit so I am keeping the TP.

Jess, on further thought, I think an immediate placement of trade is necessary on the higher time frames especially the 4hr and daily. I have not had a trade on the daily and I think that it is because the EA is waiting for the third candle. So It may be three days before a trade is taken. But manually I have made $3,694 on 5 trades with a 50,000 dema using default risk. I closed out these trades prematurely. Lol because I wanted to see the balance increase. Shortly I will place all again because they are still running.

KeySharp:

I am testing this right was we type. It MAKES ALOT of sense to have this happen at the higher TF.
I see good potential, even at the lower tf.

Here's my question.. Should we keep the STOCH cross AS IS??
Or should the condition be that once STOCH goes above or below the 80/20, you look for the zz/3sema confluence?

I just modified the indicator and I am eyeballing these things real time.

I'll add to the code conditions: 20/80Stoch + zzag + 3sema, ignore upperTF.

I'll have that for you guys by tonite when I get home..