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Price Action Trading with Indicators! The Freebie System

  • #8,041
  • Apr 8, 2016 12:12am Apr 8, 2016 12:12am
Quoting keysharp
Jess, here is a screen shot of the only trade I have open. {image}
John: In my Boloso trades that were successful I noticed that the pending orders where set around the #3 dot. I am experimenting with something where pending orders are only placed when a #3 dot appears and stays as such. The chart below is an example, you can clearly see that as long as price is moving you can catch good trades. I attached an example on the 1st chart. I missed a couple of pending orders on the chart. Notice that in order to consider the trade price can't be ranging sideways I must be moving upward or downward as it reached the pending order. When u zoom out you can clearly see that happening.
Attached Image (click to enlarge)
Click to Enlarge Name: #3Dot_Sample.jpg Size: 273 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #8,042
  • Apr 8, 2016 12:46am Apr 8, 2016 12:46am
Quoting xmess7
{quote} John: In my Boloso trades that were successful I noticed that the pending orders where set around the #3 dot. I am experimenting with something where pending orders are only placed when a #3 dot appears and stays as such. The chart below is an example, you can clearly see that as long as price is moving you can catch good trades. I attached an example on the 1st chart. I missed a couple of pending orders on the chart. Notice that in order to consider the trade price can't be ranging sideways I must be moving upward or downward as it reached...
Hi Xmess,

What is the name of the indicator on your bottom right corner of your chart? the one that shows the number of pips gained.

Thanks
  • #8,043
  • Apr 8, 2016 2:07am Apr 8, 2016 2:07am
Quoting wwaluyo
{quote} Hi Xmess, What is the name of the indicator on your bottom right corner of your chart? the one that shows the number of pips gained. Thanks
Oh William so sorry!! I saw your post earlier and meant to answer it during the evening and I forgot. Thnx for reminding me.

Here you go.

If u need the source let me know but otherwise u can google it. It's out there.
Attached File(s)
File Type: ex4 pipsometer_5_decimal.ex4   12 KB | 160 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,044
  • Apr 8, 2016 2:37am Apr 8, 2016 2:37am
ok, here are the three losers at 4HR time frame
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 43 KB
Click to Enlarge Name: USDCADH4.png Size: 42 KB
Click to Enlarge Name: EURUSDH4.png Size: 37 KB
  • #8,045
  • Apr 8, 2016 10:29am Apr 8, 2016 10:29am
Here is an update on 3C. The live account is up 42% for the past 4 weeks and up 13% for this week. The only manual trades I am doing is golddollar pair. That helps a lot and probably adds about 15% to the 4 week average return. It would be nice to keep this rate going over the year and build up a balance.
  • #8,046
  • Apr 8, 2016 12:09pm Apr 8, 2016 12:09pm
Quoting keysharp
Here is an update on 3C. The live account is up 42% for the past 4 weeks and up 13% for this week. The only manual trades I am doing is golddollar pair. That helps a lot and probably adds about 15% to the 4 week average return. It would be nice to keep this rate going over the year and build up a balance.
Is that 3c v2? Or the latest and NO, I don't agree with your statement cause YOU WILL keep up that pace.
Based on what you typed does that mean that you have just let 3C do the trading, no manual intervention?

In my case I have been intervening, but it's been minimal. These are the Profit results for the past 3 weeks.
Oanda Boloso on live accountL
Week 1: -0.1%
Week 2: 13%
Week 3: 16.9% (this was 15.2% but thnx to the dumb ass mistake I got a little more lol)

3C on Oanda demo Account:
Week:1 29%
Week 2: 9%
Week 3: -5% (was up 10% on Tuesday but decided to let it go)

Next week will be VERY interesting...
Our AWESOME IMAGINATION is the true holy grail!
  • #8,047
  • Apr 8, 2016 1:59pm Apr 8, 2016 1:59pm
Jess, this is 3C,V4 the latest. I have been intervening a little such as closing profit if I see an opposite dot appear and extending SLto a yellow dot prior, then I have a certain amount of assurance that the PA will not move beyond that dot. Otherwise I basically just let the EA run itself. Oh, about manual trading - I do place a few trades in gold when I see a break out happening and my source has a positive direction. I had three losses this week close to $50 but the positive trades covered them plus.

So all in all I am staying with 3C, possibly adding another live account and keeping the demo with the Boloso EA.
  • #8,048
  • Edited 8:33am Apr 9, 2016 2:26am | Edited 8:33am
UPDATE

I've added the zeroLag as a UseAutoTrend option to both the original and 3C versions.
Also added the Magic Number (MagicNum) as an external input as requested, boloso is included on this one.

You don't need to do anything with the Magic numbers, they are each different on each EA. These are used so the EAs will not interfere with each others trades.
Change them only if you have any other EA trading on a same pair and needs a different magic number.

Did a brief look at the indicator with the zeroLag acting as a trend filter. 3C looked interesting and so did the original approach (difference was that it had more trades)
Intervention is still required but perhaps the zeroLag may provide us with less of that.

As usual... all updates can be found at http://xm7.info/ea/freebie

Enjoy!
Attached File(s)
File Type: ex4 xm7_FreebieBOLOSO_EA_v0.ex4   80 KB | 154 downloads
File Type: ex4 xm7_Freebie_EA_v15.ex4   114 KB | 164 downloads
File Type: ex4 xm7_Freebie3C_EA_v5.ex4   93 KB | 186 downloads
File Type: ex4 xm7_Freebie_Indicator_v13.ex4   127 KB | 179 downloads
File Type: ex4 xm7_Freebie3C_Indicator_v4.ex4   128 KB | 178 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,049
  • Apr 9, 2016 1:46pm Apr 9, 2016 1:46pm
Quoting keysharp
Here is an update on 3C. The live account is up 42% for the past 4 weeks and up 13% for this week. The only manual trades I am doing is golddollar pair. That helps a lot and probably adds about 15% to the 4 week average return. It would be nice to keep this rate going over the year and build up a balance.
Hey keysharp, would you mind sharing what pairs, what TF and what settings you are using on the 3C?

Thanks!
  • #8,050
  • Edited Apr 10, 2016 2:29am Apr 9, 2016 3:41pm | Edited Apr 10, 2016 2:29am
Quoting dallmanb
{quote} Hey keysharp, would you mind sharing what pairs, what TF and what settings you are using on the 3C? Thanks!
No, definitely no,........ I don't mind sharing. Lol. That was a little Dredding humor. My pairs are GOLDUSD, EURUSD, GBPUSD, JPYUSD, USDCAD, and AUDUSD. The AUDUSD pair traded in the negative this past week and if it does it again, I will be changing. Gold gave me the best return followed by GBPUSD.
I was using the settings that xmess7 gave us on the prior page. This week I will be using the update. Also I am changing to a low SL of 30. Checking my history I saw where I am getting 70+% gains versus losses, so I believe that if I am carrying a losing trade then the EA will not pick up another trade until the prior trade closes. So I am thinking that if a trade goes bad the sooner you eliminate it the sooner you pick up another, plus the fact you minimize the losses.
I like the 1Hr time frame.

Hope that helps.
  • #8,051
  • Apr 9, 2016 4:03pm Apr 9, 2016 4:03pm
Jess, I have a correction on my return for the past week. The EA did a return of 3.6% and the balance of the 10.5% is attributed to manual trading (I just can't help myself). This is still good. If anyone can do 3% per week, then over the year with $1,000 balance the monthly income at year end will be about $577/ month. and if no w/d are made then in 5 years you can reach the million mark.
What do you think of a pair carrying more than one trade in a pair? My JPYUSD has a trade that is over a week old. It will eventually close in profit but the problem is that I haven;t had a trade since that trade happened. So this past week there was no JPYUSD trade.
  • #8,052
  • Edited Apr 10, 2016 8:44am Apr 9, 2016 10:52pm | Edited Apr 10, 2016 8:44am
Quoting xmess7
{quote} Oh William so sorry!! I saw your post earlier and meant to answer it during the evening and I forgot. Thnx for reminding me. Here you go. If u need the source let me know but otherwise u can google it. It's out there. {file}
Thanks Jess. I will put this EAs on a test on H4 timeframe on monday. I will post the result of each trade taken.

Also here are the pairs that I am going to test on 3C EA using Jess's latest update and settings. AUDUSD, NZDUSD, EURUSD, EURJPY, GBPUSD, GBPJPY, USDJPY, USDCHF and USDCAD.
  • #8,053
  • Apr 10, 2016 11:50am Apr 10, 2016 11:50am
Quoting keysharp
Jess, I have a correction on my return for the past week. The EA did a return of 3.6% and the balance of the 10.5% is attributed to manual trading (I just can't help myself). This is still good. If anyone can do 3% per week, then over the year with $1,000 balance the monthly income at year end will be about $577/ month. and if no w/d are made then in 5 years you can reach the million mark. What do you think of a pair carrying more than one trade in a pair? My JPYUSD has a trade that is over a week old. It will eventually close in profit but the...
John:
I'll add an option for max number of trades on symbol. Question, if this is for the Boloso EA, would u want it to search for any type of trade (long or short) or a trade in the same direciton as the opened one? For the US broker that's a given, but if u are using an offshore account then u have the option to hedge.

In addition I can add back the stack trade function.

Let me know if you want both features and we'll get er done!
Our AWESOME IMAGINATION is the true holy grail!
  • #8,054
  • Apr 10, 2016 11:56am Apr 10, 2016 11:56am
Quoting wwaluyo
{quote} Thanks Jess. I will put this EAs on a test on H4 timeframe on monday. I will post the result of each trade taken. Also here are the pairs that I am going to test on 3C EA using Jess's latest update and settings. AUDUSD, NZDUSD, EURUSD, EURJPY, GBPUSD, GBPJPY, USDJPY, USDCHF and USDCAD.
William:
Make sure that UseAutoTrend is set to zeroLag(that may be the default already). I am banking that there will be less trades due to the way the filter and combination of 3C conditions happen. By you using more pairs we can see more good opportunities show up.

What risk are you planning to use?
I would keep it down, cause if just say 5 of those pairs turn into negative territory, that can produce a considerable challenge if the risk is somewhat big.

How do you plan to run the EA?
Will you allow it to go on auto mode or will you be intervening?

Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #8,055
  • Apr 10, 2016 12:11pm Apr 10, 2016 12:11pm
Quoting xmess7
{quote} William: Make sure that UseAutoTrend is set to zeroLag(that may be the default already). I am banking that there will be less trades due to the way the filter and combination of 3C conditions happen. By you using more pairs we can see more good opportunities show up. What risk are you planning to use? I would keep it down, cause if just say 5 of those pairs turn into negative territory, that can produce a considerable challenge if the risk is somewhat big. How do you plan to run the EA? Will you allow it to go on auto mode or will you be...
Jess,

Yes I set it to ZeroLag and yes I notice that 3C will take less trade hence I am doing more pairs to compensate the number of trades.

In term of risk, I am risking 1% for each trade.

On the upcoming week I am going to let the EA go on auto trade mode since I am running it on H4 timeframe and volatility would not be as much as on lower timeframe. By end of next week I am going to evaluate all the trades and see if intervening is necessary.

Also, when I trade manual, I usually set my TP to 50pips and when it reaches the TP, I set a trailing stop of 10pip to maximize my profit. Would that be possible to set it on the EA? and what do you think of it?

And one more question, what do you think of hedging using this EA during news?


Thanks,
William
  • #8,056
  • Apr 10, 2016 12:31pm Apr 10, 2016 12:31pm
Jess, don't see any benefit for Boloso EA in stacking. But for 3C that is a different animal. I was just asking for opinions on this, because I was going to start doing manual trading if the JPY trade doesn't clear soon. So let's hold up on making any changes.

By the way, I was looking at the EXplorer on my forexfactory personal page and this has a lot of good info about my live account. I had set it up like a MFX account. But it shows the returns for various periods and the returns of each pair that is traded. the Explorer shows that AUDUSD is my worst pair. I have a -26% return since I opened the live account in February, So it is gone as of today.
  • #8,057
  • Apr 10, 2016 2:28pm Apr 10, 2016 2:28pm
Quoting wwaluyo
{quote} Jess, Yes I set it to ZeroLag and yes I notice that 3C will take less trade hence I am doing more pairs to compensate the number of trades. In term of risk, I am risking 1% for each trade. On the upcoming week I am going to let the EA go on auto trade mode since I am running it on H4 timeframe and volatility would not be as much as on lower timeframe. By end of next week I am going to evaluate all the trades and see if intervening is necessary. Also, when I trade manual, I usually set my TP to 50pips and when it reaches the TP, I set a trailing...
Will:
To get an idea of what you may be facing, if you haven't done this already, slap the 3C indicator on a H4 chart and observe how many probable signals it generates.
This may be a good approach in terms of the # of pairs and if the EA is "picky" and that the TF is H4. Will be interesting to see this.

As for the stack trade, set the following inputs as shown:
StackTrades_ifPrevBE=Yes
PipDistanceForNextTrade=10
If you prefer to have a new stack irregardless of whether the previous trade is BE or not, let me know and update to code to do that.

I have not considered hedging. Since I am in the US I mainly concentrate on non hedging. Plus since u are dealing with H4 news volatility may not be that much of an issue for you.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,058
  • Apr 10, 2016 2:32pm Apr 10, 2016 2:32pm
Quoting keysharp
Jess, don't see any benefit for Boloso EA in stacking. But for 3C that is a different animal. I was just asking for opinions on this, because I was going to start doing manual trading if the JPY trade doesn't clear soon. So let's hold up on making any changes. By the way, I was looking at the EXplorer on my forexfactory personal page and this has a lot of good info about my live account. I had set it up like a MFX account. But it shows the returns for various periods and the returns of each pair that is traded. the Explorer shows that AUDUSD is...
John:
As long as the next trade is a good distance from the 1st or previous trades I don't see any concerns with having multiply trades on the same symbol. At the moment we don't really have a scale-able approach. True the EA has the capacity to stack trades but I think we need something separate for just that rather than just have the ea use the same conditions to tack on another trade.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,059
  • Apr 11, 2016 3:12am Apr 11, 2016 3:12am
Folks:
First trade using 3C with zeroLag as trend filter....

Not a bad start for the week... 6% profit open.. and it's a free trade too...
Attached Image (click to enlarge)
Click to Enlarge Name: Tallinex_3C_zeroLagFilter.jpg Size: 332 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #8,060
  • Edited 9:09am Apr 11, 2016 6:26am | Edited 9:09am
Haven't had many trades in the Euro so I suppose that is why possibly the EA is confused. With all indicators showing an up trade the EA took a short. The zerolag indicator apparently dictated this trade. UPDATE: yep, hit my stop loss.
Attached Image
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