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Price Action Trading with Indicators! The Freebie System

  • #7,961
  • Mar 22, 2016 5:54pm Mar 22, 2016 5:54pm
This is a pic of the chart where I had several trades in succession. And yes, they quit when the candle changed colors.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDecnH1.png Size: 16 KB
  • #7,962
  • Mar 22, 2016 8:17pm Mar 22, 2016 8:17pm
Quoting keysharp
This is a pic of the chart where I had several trades in succession. And yes, they quit when the candle changed colors. {image}
Thnx for the image. I can see what is happening. I figured out what is now happening.

Currently the EA will look back one bar. If It finds a White/Red HA candle then it will continue to scan from right to left, 50 Bars looking for a 3C setup.
Once it finds the setup it then verified that it matches the HA color and that the stoch crossing is also in the right direction, to generate a trade.
The current EA is looking back at 50 candles.

So far so good right? Well since the EA looks back 50 CANDLES, it will keep generating trades as long as the 3C setup is present. In your chart the 3C setup is for a short. So the EA will continue to generate trades when it detects a new HA candle that matches the direction of the 3C setup. It will do it up to 50 candles or, of course, if the 3C setup is eliminated.

But doesn't that bring an interesting scenario?? Its as if it is stacking. It's as if as long as I see (looking from right to left) that 3sema dot with the ZigZag and a failed high pivot I (the EA) will continue to take Short/Long trades whenever a (Red/White)HA candle closes, up to 50 bars.

V2 is coming up. It will something similar except that it won't go 50 bars out to find the 3C setup. So like the original rule, the red HA candle will be looked for within 1-3 bars from the occurrence of the 3C setup.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,963
  • Mar 22, 2016 11:07pm Mar 22, 2016 11:07pm
3C update Version2

Here's the update.

The EA will now only take trades when the 3Cs are met, that's if u select Candles=NoCandles
if u select Candles=HA_Candles then the EA will 1st detect a HA candle. Then it will scan back only 3 bars and if it finds the 3C setup that matches the color of the HA candle, then it will take a trade.

of course in both cases stoch cross is also looked at.

So again very restrictive....

Good luck.
Attached File(s)
File Type: ex4 xm7_Freebie3C_EA_v2.ex4   85 KB | 152 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #7,964
  • Mar 23, 2016 3:05am Mar 23, 2016 3:05am
Quoting xmess7
3C update Version2 Here's the update. The EA will now only take trades when the 3Cs are met, that's if u select Candles=NoCandles if u select Candles=HA_Candles then the EA will 1st detect a HA candle. Then it will scan back only 3 bars and if it finds the 3C setup that matches the color of the HA candle, then it will take a trade. of course in both cases stoch cross is also looked at. So again very restrictive.... Good luck. {file}
Thanks for all your hard work, I'll put this version on my charts later on tonight when I come home.

As a side note, the first 3C EA was the most profitable so far.
  • #7,965
  • Mar 23, 2016 3:18am Mar 23, 2016 3:18am
Quoting Reamasesa
{quote} Thanks for all your hard work, I'll put this version on my charts later on tonight when I come home. As a side note, the first 3C EA was the most profitable so far.
Reamasesa:
Thnx for the info. But don;t thank me for the effort. Not until someone or you makes $100,000 then you can thank anyone you like LOL.

Anyhow. There is something interesting about 3C. As I mentioned earlier due to the way it is structured it almost seems that it can provide a good approach at taking sort of like stacking trades....

Just be aware this latest version should be more restrictive, so you may not see that many pairs. If that is the case then I recommend adding more pairs or going to a lower TF...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,966
  • Mar 23, 2016 3:52am Mar 23, 2016 3:52am
Quoting xmess7
{quote} Reamasesa: Thnx for the info. But don;t thank me for the effort. Not until someone or you makes $100,000 then you can thank anyone you like LOL. Anyhow. There is something interesting about 3C. As I mentioned earlier due to the way it is structured it almost seems that it can provide a good approach at taking sort of like stacking trades.... Just be aware this latest version should be more restrictive, so you may not see that many pairs. If that is the case then I recommend adding more pairs or going to a lower TF...
I totally disagree with you, even if this EA proves to be unprofitable, you still invested a lot of time and efforts into it, allowing us to use it and examine this strategy in an automated way rather than us sitting hours in front of the screen. For that, you have all my thanks, 100K$ or not.

On another note, why do I need to set the SL? When I first loaded the previous version and didn't place a SL, it crashed my MT4. I'm also not sure I should trade this EA on an old demo account, I'm thinking about setting two demo accounts for this EA, one with Candles=No and one with Candles=HA to see how different they play.
Since I'm not at home, I've set up BE and TS.

Regards.
  • #7,967
  • Mar 23, 2016 11:13am Mar 23, 2016 11:13am
Quoting Reamasesa
{quote} I totally disagree with you, even if this EA proves to be unprofitable, you still invested a lot of time and efforts into it, allowing us to use it and examine this strategy in an automated way rather than us sitting hours in front of the screen. For that, you have all my thanks, 100K$ or not. On another note, why do I need to set the SL? When I first loaded the previous version and didn't place a SL, it crashed my MT4. I'm also not sure I should trade this EA on an old demo account, I'm thinking about setting two demo accounts for this...

In the 3C version the EA does not set the SL automatically. Later on when we get it going then I'll add some automated feature.
For now you must manually set a SL otherwise when the EA calculates a lotsize it will produce a divide by zero. The EA of warned you if you have no value in the StopLoss input. You must place a stop loss otherwise it will either generate a divide by zero error and simple do nothing.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,968
  • Mar 23, 2016 11:21am Mar 23, 2016 11:21am
Quoting xmess7
{quote} In the 3C version the EA does not set the SL automatically. Later on when we get it going then I'll add some automated feature. For now you must manually set a SL otherwise when the EA calculates a lotsize it will produce a divide by zero. The EA of warned you if you have no value in the StopLoss input. You must place a stop loss otherwise it will either generate a divide by zero error and simple do nothing.
Thanks.
Can't wait to get home and try out the new version.
I think I'll put it on M5 charts to see how it's going.

BTW, my broker bumps up the spread to 200 points at midnight, does the EA takes this into consideration?
  • #7,969
  • Mar 23, 2016 12:29pm Mar 23, 2016 12:29pm
Quoting Reamasesa
{quote} Thanks. Can't wait to get home and try out the new version. I think I'll put it on M5 charts to see how it's going. BTW, my broker bumps up the spread to 200 points at midnight, does the EA takes this into consideration?

Yes and no.

As far as for trading no.
As far as when setting SL and TP yes.

That's an easy addition, I'll add it later.
Any recommendations? Otherwise I will add the condition
if spread>5 pips don't trade
Our AWESOME IMAGINATION is the true holy grail!
  • #7,970
  • Mar 23, 2016 2:27pm Mar 23, 2016 2:27pm
Hello, these are the today's trade with freebie v14,2, time frame m30
Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader - ActivTrades.png Size: 111 KB
Attached File(s)
File Type: txt XFREEBYE 14,2.txt   < 1 KB | 222 downloads
  • #7,971
  • Mar 24, 2016 12:21am Mar 24, 2016 12:21am
Quoting gianniko
Hello, these are the today's trade with freebie v14,2, time frame m30{image} {file}
Awesome thnx gianniko.

Are you intervening or do u just let the EA run on it's own?
Our AWESOME IMAGINATION is the true holy grail!
  • #7,972
  • Mar 24, 2016 1:39am Mar 24, 2016 1:39am
Several Updates.

By request I uncovered more inputs. Made minor corrections and I added debug statements to the 3C EA. This way whatever the EA sees BEFORE it takes a trade is recorded and we can use it to debug any other problems.

Go ahead and replace the EAs you are using with these so we are all on the same page.

I promise no more changes this week!

Peace
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v14.3.ex4   113 KB | 173 downloads
File Type: ex4 xm7_Freebie3C_EA_v3.ex4   91 KB | 199 downloads
File Type: ex4 xm7_Freebie_Indicator_v12.2.ex4   124 KB | 188 downloads
File Type: ex4 xm7_Freebie3C_Indicator_v2.ex4   128 KB | 191 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #7,973
  • Mar 24, 2016 3:55am Mar 24, 2016 3:55am
[Quote = xmess7; 8.830.667] aggiornamento 3C Version2 Ecco l'aggiornamento. La EA ora solo prendere i commerci quando sono soddisfatte le 3C, che è se u selezionare Candele = NoCandles se u selezionare Candele = HA_Candles allora l'EA 1 ° rilevare una candela HA. Poi si esegue la scansione di nuovo solo 3 bar e se trova il setup 3C che corrisponde al colore della candela HA, allora ci vorrà un mestiere. naturalmente in entrambi i casi Stoch croce è anche guardato. Così ancora una volta molto restrittiva .... Buona fortuna. {File} [/ quote]
You can add a send email? Thank you
  • #7,974
  • Mar 24, 2016 4:01am Mar 24, 2016 4:01am
[Quote = xmess7; 8.833.257] {quote} impressionante thnx gianniko. Sei intervenire o non u semplicemente lasciare che la EA eseguito su di essa la propria? [/ Quote]
No I have left to do, I can not use well the settings for the management of the trade, but in real trading I send mail use, to filter the trade
  • #7,975
  • Mar 24, 2016 7:37am Mar 24, 2016 7:37am
Jess, here is a no-no. the trade seems to meet all criteria in the candle befor the red arrow. But the candle with the red arrow had a yellow dot with the zz indicator, then on the next candle the trade was taken as a short. It should have been a long. Apparently the yellow dot and zz was not picked up by the ea.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDecnH1.png Size: 14 KB
  • #7,976
  • Mar 24, 2016 7:57am Mar 24, 2016 7:57am
I think this shot says it better
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDecnM15.png Size: 14 KB
  • #7,977
  • Mar 27, 2016 1:51pm Mar 27, 2016 1:51pm
Quoting keysharp
I think this shot says it better {image}
John:
I have been looking at this one.

It is really strange cause the code should avoid that. This is the way it works right now.
1st The EA detects the RED HA candle.
Then it only goes back 3 candles and looks for ONLY high 3sema dots.
if it doesn't find anything when it gets to the 3rd candle (right to left on chart) then the EA stops and waits for the close of the next candle to start over

That is what is strange. I am going to rearrange the logic and also start to look for 3sema dots only after the EA has detected the color of the candle and a FLIP. The flip being that the HA candle changes color.

I'll have that uploaded in a bit..
Our AWESOME IMAGINATION is the true holy grail!
  • #7,978
  • Mar 27, 2016 2:55pm Mar 27, 2016 2:55pm
Jess, seems better to start with the 3sema dot and look within 3 candles for a candle in the color for the correct direction.
  • #7,979
  • Mar 28, 2016 4:36pm Mar 28, 2016 4:36pm
John:

I will be looking into that. If I recall in the early versions I was kinda doing that... I think.
The tricky part is that the EA has to remember various variable states and as each new candle appears it has to also scan and check for a new 3sema dot, otherwise the EA will just keep remembering the last 3sema dot it found. I can be done however they way the MT4 is structured (how it presents candles) lends itself to easily getting into trouble lol.

So just off the top of my head this is how I would need to sort of re-write the code:

Before anything is done set the following:
3semaup=false
3semadown=false
HA_red=false
HA white=false
stochup =false
stochdn=false;
BarsShift_3semadot=0

1. if 3semaup or 3semadn is false check for 3sema dot on current candle

2. if there is a high or low 3zz dot and ZigZag on current candle then register 3semaup=true or 3semadown=true .
if BarsShift_3semadot >0 at this point set it back to 0
if both variables are still false stop here and wait for next candle to start at 1 again

3. Next candle detect HA candle color. if HA candle red then HA_red=true. if HA candle is White then Ha_white=true
if both variables are still false stop here and set false to all 3semadot variables, wait for next candle to start again

4. if HA candle either Red or White, then check stoch crossing
5. if stoch crossing is up set stochup =true. if stoch cross down set stochdn=true
increment BarsShift_3semadot by 1
if both variables are still zero stop here and set HA variables to false wait for next candle to start again

This would be the first part. As you can see it can be very easy to generate and error. If one condition or a combination is missed or the the EA does not reset variables when it is supposed to then u can end up with false conditions that generate wrong trades.

stay tuned...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,980
  • Mar 28, 2016 8:31pm Mar 28, 2016 8:31pm
Jess, I appreciate the detail, but I find it easier to look at the chart and surmise what the system should be,LOL. It is going to take a little time to understand what you are saying. So, being an efficiency expert - I am leaving the process up to you. After all I took my lawnmower out of the shed from winter storage and cranked it and it didn't start, so I think it is a good day.
Actually the current system 3C=v1 and 3C=v3 are working fairly well. The only thing that bothers me is that the trades go into the negative quite a bit and so far have generally come back to profit.

Keep at it, all is appreciated very much.
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