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Price Action Trading with Indicators! The Freebie System

  • #8,081
  • Apr 12, 2016 10:33am Apr 12, 2016 10:33am
Quoting Reamasesa
Hi, First and again, I'm thankful for both EAs. I've seen great progress over the last several versions I've been using. That being said, I've also seen less and less trades and the past several days I've seen mostly losers, admittedly small ones but nearly no profit and two trades had hit full SL. It led me to think that I might have the wrong settings somehow, I'm trading the M30 charts, 50 SL with 36 TS and using the zerolg for trend. I'm not at home so this is from the top of my head. Also, the BOLOSO, I think, is using the same trade comment...

The settings file I posted on this post http://www.forexfactory.com/showthre...70#post8849070
is what I use. I have not changed them. You may want to consider using RiskPercent 1% vs what I use , which is 5%.
The other thing is that the EAs now have a MagicNumber input. I leave that at default.

Questions:
When do you first fire up the EA?
Are you allowing the EA to run on it's own or do you consider intervention?
Our AWESOME IMAGINATION is the true holy grail!
  • #8,082
  • Apr 13, 2016 5:24am Apr 13, 2016 5:24am
Quoting xmess7
Sorry guys: Please download this update again. This one has the complete update, the other only had a partial change. {file} {file}
Jess,

How is your 3C result by the way?

Also, do I have to attach the freebie 3C indicator on the chart as well or that is only for manual trading?
  • #8,083
  • Edited Apr 14, 2016 10:23am Apr 13, 2016 1:34pm | Edited Apr 14, 2016 10:23am
Quoting wwaluyo
{quote} Jess, How is your 3C result by the way? Also, do I have to attach the freebie 3C indicator on the chart as well or that is only for manual trading?
Will:
This Friday I will post the results of all the accounts I am working with (1 live, 4 demo). To answer your question, I think (I have not calculated it) the 3C demo did 12% and was disabled Tuesday just after 6AM PDT.

All EAs on each account were disabled at that time (http://www.forexfactory.com/showthre...57#post8868457) because they reached the target profit. This marks the 3rd strait week that the accounts have ended in profit for the week most of them with double digits. On the live account the average is about 10-11%, have not calculated this for the rest. Now, remember I am using a 5% risk, so that is why u see double digits.

The indicators for the approaches are independent from the EAs. So yes u can use them for manual trading. Right now I mainly use them to validate trades or examine errors where trades should or should not been taken. So it's a debug tool for me. But yes u can activate the alerts and receive them so u can take trades manually.

Continue testing as you are doing, try to start over each week. You will notice that there are many weeks when you will see the total of trades add up to a profit, make note of that. You will notice that many weeks, if you had intervened and closed all trades at those moments when the sum of the trades added up to a profit, that those weeks would of just simply ended in profit. That's the main premise for an intervention. Let the EA take the trades, monitor (at your leisure) the account, if you see that the account has reached your target profit, close all trades, shut down MT4 and relax for the rest of the week.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,084
  • Apr 13, 2016 11:47pm Apr 13, 2016 11:47pm
Folks:
I forgot to mention to you can place the zeroLag indicator on the same timeframe. if you are on the 15min use period = 520 instead of the default of 32..

If you are using the H4 or above then set the period to this equation to get the new period:
10080 *32/(period u are using) +20

I hope this makes sense...

Basically You transpose the zeroLag onto the lower TF u use for trading. That way u don't have to flip back and forth to SEE what the slope is at the higher TF.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,085
  • Edited 3:44pm Apr 15, 2016 12:37am | Edited 3:44pm
Update

Went thru both original and 3C programs and correct several code errors.
Also made the indicator versions match the EA version. Just makes it easier to associate the one with the other.

Let see how this 3C version does...

UPDATE to UPDATE:
Please re-download the EA files. SuperPmf found an error in that the EA was bombing due to how it was reading the pivot levels.
In reality it was stupid mistake. I left a Print statement (this was for debug purposes). In that print statement I was making the EA look for the 15th pivot level.
Well there is only 13 pivot levels. So the Ea would saw "Excuse me but their aint no 15th pivot level" So it would bomb. LOL.
Attached File(s)
File Type: ex4 xm7_Freebie_Indicator_v16.ex4   127 KB | 181 downloads
File Type: ex4 xm7_Freebie3C_Indicator_v6.ex4   128 KB | 194 downloads
File Type: ex4 xm7_Freebie_EA_v16.ex4   114 KB | 152 downloads
File Type: ex4 xm7_Freebie3C_EA_v6.ex4   93 KB | 153 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,086
  • Apr 15, 2016 7:19pm Apr 15, 2016 7:19pm
Well, here is my embarrassing report. I am up 6.40% on the live account for the week. I stopped the EA on Wed and Thurs. because of too many trades and I thought it would affect my margin. But the account pulled out just fine this Friday in that I got breathing room,and I added a couple of % to the return. The lack of a real stop loss is giving me problems in that it builds an inventory of trades that you have to wait out. Some of these have closed out but they do take time. This is something to think about when setting SL. So next week I need all pairs to go up so I can close a majority of the trades. Maybe I'll go to church on Sunday.
  • #8,087
  • Apr 15, 2016 9:07pm Apr 15, 2016 9:07pm
John be quiet... "embarrassing"?? You got profit dude.. Plus it just means u are saving the big profits for next week.

Ok here's a run down on the profit status for 3 accounts (it was 4 but I cannot connect to FXCM to review this last week's trades).

I included the trade activity for each of the Accounts, the EA is named on each image. Notice that it did not take many trades and the intervention was basically null.
All MT4 accounts, with exception of Tallinex, had reached target profit and where closed on April 11.
Tallinex also reached target profit but was closed one day later.
Tonite I will unhide the input that controls the weekly Profit Target. I will post that as well.
Next week I will set the WeeklyTargetProdit input. I will still be monitoring trades from time to time and make determinations.
But this time I will just let the EA do the closing for when the target profit is reached.


Oanda live account (Boloso EA):
started of week: $149.23
end of week: $166.49
Percent profit: +11.6%

Oanda Demo account (3C EA)
started of week: $1134.94
end of week: $1450.00
Percent profit: +27.7%

Tallinex Demo (3C EA)
started of week: $5492.56
end of week: $6394.06
Percent profit: +16.4%

FXCM Demo (Boloso EA)
Also in profit... I think 20%?
Market is closed and program will not let me connect.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: OandaLive_Boloso_Status1.jpg Size: 189 KB
Click to Enlarge Name: TallinexDemo_3C_Status1.jpg Size: 117 KB
Click to Enlarge Name: OandaDemo_3C_Status1.jpg Size: 135 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #8,088
  • Apr 16, 2016 10:55am Apr 16, 2016 10:55am
Quoting xmess7
Folks: I forgot to mention to you can place the zeroLag indicator on the same timeframe. if you are on the 15min use period = 520 instead of the default of 32.. If you are using the H4 or above then set the period to this equation to get the new period: 10080 *32/(period u are using) +20 I hope this makes sense... Basically You transpose the zeroLag onto the lower TF u use for trading. That way u don't have to flip back and forth to SEE what the slope is at the higher TF.
Jess,

I dont understand that calculation at all lol. Could you help?

Quoting xmess7
Update Went thru both original and 3C programs and correct several code errors. Also made the indicator versions match the EA version. Just makes it easier to associate the one with the other. Let see how this 3C version does... UPDATE to UPDATE: Please re-download the EA files. SuperPmf found an error in that the EA was bombing due to how it was reading the pivot levels. In reality it was stupid mistake. I left a Print statement (this was for debug purposes). In that print statement I was making the EA look for the 15th pivot level. Well there is only 13 pivot levels. So the Ea would saw "Excuse me but their aint no 15th pivot level" So it would bomb. LOL. {file} {file} {file} {file}
Also, I will re-download and re-test 3C from scratch starting on Monday. I still don't understand what is the Freebie3C indicator for? Do I attach that on the same chart with the EA?

Thanks,
  • #8,089
  • Apr 16, 2016 1:55pm Apr 16, 2016 1:55pm
Quoting wwaluyo
{quote} Jess, I dont understand that calculation at all lol. Could you help? {quote} Also, I will re-download and re-test 3C from scratch starting on Monday. I still don't understand what is the Freebie3C indicator for? Do I attach that on the same chart with the EA? Thanks,
Will:
tell me which time frame you are trading on and I'll make the calculation.
But here's an example. Say you are trading on the 15m then calculate the new period like this:

(32 x 240)/15 + 20 = 512 + 20 = 532

32 is the zeroLag period used on the 4H TF
240 is H4 which zeroLag is set to 32 periods
15 is the time frame u are trading on.
20 is just a factor I am adding, it's based on observation.
532 is now the Period u set in the zeroLag indicator input (then u place the zeroLag indicator on the 15m TF)

So no what you will see on the 15min chart is the zeroLag curve, which now represents the zeroLag as if it were on the 4H with a period of 32.


All indicator both the original and 3C are just used for visual reference. They do not need to be on the chart when u use the EAs. You can have a naked chart and place the EAs on it. The EAs will work just fine. I created the indicators so that you can visually see where a trade SHOULD or SHOULD not happen. So if you need to verify any trades you can then add the Indicator to the chart. That way you have the EA and the indicator running at the same time. So for example when the EA takes a buy trade.. you should see a green arrow indicating that there is a buy trade from the indicator. Or vice versa. If the Indicator shows a RED arrow and u see NO EA trade then we need to investigate why that happened. etc etc etc.

Hope that clears things up.
J
Our AWESOME IMAGINATION is the true holy grail!
  • #8,090
  • Apr 17, 2016 11:51am Apr 17, 2016 11:51am
Quoting xmess7
{quote} Will: tell me which time frame you are trading on and I'll make the calculation. But here's an example. Say you are trading on the 15m then calculate the new period like this: (32 x 240)/15 + 20 = 512 + 20 = 532 32 is the zeroLag period used on the 4H TF 240 is H4 which zeroLag is set to 32 periods 15 is the time frame u are trading on. 20 is just a factor I am adding, it's based on observation. 532 is now the Period u set in the zeroLag indicator input (then u place the zeroLag indicator on the 15m TF) So no what you will see on the 15min...
Jess,

Thank you for the explanation. Now I get how the zeroLag works.
I am going to test 3C EA on H4 TF and I would like to have the zeroLag represent the Daily TF. What is the period would be?

Quoting keysharp
Well, here is my embarrassing report. I am up 6.40% on the live account for the week. I stopped the EA on Wed and Thurs. because of too many trades and I thought it would affect my margin. But the account pulled out just fine this Friday in that I got breathing room,and I added a couple of % to the return. The lack of a real stop loss is giving me problems in that it builds an inventory of trades that you have to wait out. Some of these have closed out but they do take time. This is something to think about when setting SL. So next week I need all...
Hi John,

May I know which EA are you using on your live account? Thanks before.

William,
  • #8,091
  • Apr 17, 2016 11:58am Apr 17, 2016 11:58am
[quote= Hi John, May I know which EA are you using on your live account? Thanks before. William,[/quote]
Hi William, I am using the latest 3C with Jess' set up.
  • #8,092
  • Apr 17, 2016 12:22pm Apr 17, 2016 12:22pm
Quoting keysharp
{quote} Hi William, I am using the latest 3C with Jess' set up.
Hi John,

Do you run that on M15 TF as Jess or higher?

Thanks,
William
  • #8,093
  • Apr 17, 2016 12:49pm Apr 17, 2016 12:49pm
Quoting xmess7
{quote} will: (1440*32)*15=3072 I am assuming that you are trading on the 15 minute, otherwise change the 15 to the Timeframe u are trading on and recalculate for the zeroLag period
Hi Jess,

I am going to test it on H4 TF and zeroLag will based on Daily TF so that I could share my finding on higher TF.

Thanks,
Will
  • #8,094
  • Apr 17, 2016 2:19pm Apr 17, 2016 2:19pm
Quoting wwaluyo
{quote} Hi John, Do you run that on M15 TF as Jess or higher? Thanks, William
I am running on the hrly frame and refer to the daily.
  • #8,095
  • Apr 17, 2016 3:03pm Apr 17, 2016 3:03pm
UPDATE to EAs and Indicators

Will:
I deleted the previous post, I made a mistake on the calculation. I forgot to divide by the period.
So based on what you indicated this is the period u will use for the zeroLag to represent D1 on the H4.

D1*32/H4 ==> (1440*32)/240 = 192.

I had to update the code to do this as well, otherwise with the previous versions you would not get the same results cause the zeroLag was being applied as the period M1 on the H4 TF.

In addition I have added back the Weekly_Profit_Target input. This week I am going to set a target profit of 13%, and let the EA control that portion of the decision.
I will still on occasion monitor trades and if I deem it necessary close all trades even though the target was not reached. Hopefully my intervention will be very minimal this next week.
Attached File(s)
File Type: ex4 xm7_Freebie_Indicator_v17.ex4   128 KB | 158 downloads
File Type: ex4 xm7_Freebie3C_Indicator_v7.ex4   128 KB | 180 downloads
File Type: ex4 xm7_FreebieBOLOSO_Indicator_v1.ex4   123 KB | 161 downloads
File Type: ex4 xm7_Freebie_EA_v17.ex4   114 KB | 170 downloads
File Type: ex4 xm7_Freebie3C_EA_v7.ex4   105 KB | 170 downloads
File Type: ex4 xm7_FreebieBOLOSO_EA_v1.ex4   81 KB | 191 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,096
  • Apr 17, 2016 3:07pm Apr 17, 2016 3:07pm
Guys I am re-posting the status of last weeks trades. I now was able to get FXCM trade activity and I fixed an error that I had on one of the images.
This is just for the sake of accuracy and as a request.

Forward test status for week period April 10-15, 2016:

Oanda live account (Boloso EA):
started of week: $149.23
end of week: $166.49
Percent profit: +11.6%

Oanda Demo account (3C EA)
started of week: $1134.94
end of week: $1450.00
Percent profit: +27.7%

Tallinex Demo (3C EA)
started of week: $5492.56
end of week: $6394.06
Percent profit: +16.4%

FXCM Demo (Boloso EA)
started of week: $58590.63
end of week: $66698.36
Percent profit: +13.8%
Attached Image(s) (click to enlarge)
Click to Enlarge Name: OandaLive_Boloso_Status1.jpg Size: 189 KB
Click to Enlarge Name: OandaDemo_3C_Status1.jpg Size: 134 KB
Click to Enlarge Name: TallinexDemo_3C_Status1.jpg Size: 117 KB
Click to Enlarge Name: FXCM_Boloso_Status1.jpg Size: 181 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #8,097
  • Apr 18, 2016 12:01am Apr 18, 2016 12:01am
zeroLag info

Guys:
If you are using zeroLag for trend direction, do not use it for now.
I found out that on some MT4 charts the translation does not work. The curve does not match at all what is seen on the higher TF.
Strange thing is that my live Oanda account shows the zeroLag just fine on the 15m and it compares very well with the H4 TF curve.
However, same broker, demo account the zeroLag 15m and H4 curves do not match!

So for now, do not use it. I am going to do it manually, that is I have the H4 chart also open with the zeroLag default settings (period 32).
Then if when I take a look and see that a trade has happened I will compare to see if the zeroLag H4 agrees with the direction of the trade.
If not, CLOSE the trade else let the trade go.

Later on I will code the upperTF zeroLag into the code. I really liked transposing the zeroLag on to the lower TF cause it seemed to change earlier than when seen on the H4 and it was fairly stable when it changed too.

Ok, I have opened all 4 MT4s with the latest EAs and have set them all to 13% profit target for the week. Lets see what happens......... and into the future we go .... LOL

JEss
Our AWESOME IMAGINATION is the true holy grail!
  • #8,098
  • Apr 18, 2016 1:05am Apr 18, 2016 1:05am
Quoting xmess7
zeroLag info Guys: If you are using zeroLag for trend direction, do not use it for now. I found out that on some MT4 charts the translation does not work. The curve does not match at all what is seen on the higher TF. Strange thing is that my live Oanda account shows the zeroLag just fine on the 15m and it compares very well with the H4 TF curve. However, same broker, demo account the zeroLag 15m and H4 curves do not match! So for now, do not use it. I am going to do it manually, that is I have the H4 chart also open with the zeroLag default settings...
Hi Jess,So what would be the alternative or at least what do you use for trend direction?Thanks,Will
  • #8,099
  • Edited 1:59am Apr 18, 2016 1:48am | Edited 1:59am
Quoting wwaluyo
{quote} Hi Jess,So what would be the alternative or at least what do you use for trend direction?Thanks,Will
Will:
In reality we had left the trend direction alone (set UseAutoTrend=None) for sometime. If you look at the pull down there are a couple of other options. We tried those and either they lagged or price simply reacted against them. So fer now I am going back to that mode, no trend. Let the EA take the trades and use your intervention to determine if the trade should stay or go.

The zeroLag approach was something I wanted to try out. It's part of another EA that I am working on. I started using it manually, as I explained earlier. For example I trade the EURUSD on the 15min, I would open a H4 chart and place the zeroLag on it. Then whenever I saw a trade I would consult the H4 and see if the zeroLag agreed with the trade, that would give me the confidence to either leave the trade or to close it (it there was no agreement).

For now just try it manually. You are using the H4 correct? Let the EA take the trades on the H4 TF and whenever next you open your chart consult D1 . Determine if the zeroLag slope agrees with the direction of the trade, if it does leave the trade alone. Look for other things, like support/resistance.. etc etc.

Now, I do plan to add it soon. In fact I found a solution. I took an existing MTF indicator and gutted the sucker LOL. I inserted the zeroLag into the code and voala, an MTF zeroLag version. IT's also alot easier, no need to make any calculations LOL. Right now I am just trying to consider of whether to integrated into the code or leave it as a separate indicator. I'll have this done soon.

To illustrate what I am talking about. Check out the image below. The jagged curve is the MTF H4 zeroLoag and the smooth curve is the H4 zeroLag suerimposed on the 15min TF. They both align failry well. I already tried it on the brokers where the H4 superimposed zeroLag curve was all over the place and it worked.

I've included the MTF zeroLag indi. IF you see it showing a weird curve just reset it. Make sure to change the input HigherTimeFrame to the timeframe of interest.
Attached Image (click to enlarge)
Click to Enlarge Name: MTF_zeroLag.jpg Size: 214 KB
Attached File(s)
File Type: ex4 #MTF_ZeroLag_xm7.ex4   9 KB | 185 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,100
  • Apr 18, 2016 1:58am Apr 18, 2016 1:58am
Quoting xmess7
{quote} Will: In reality we had left the trend direction alone (set UseAutoTrend=None) for sometime. If you look at the pull down there are a couple of other options. We tried those and either they lagged or price simply reacted against them. So fer now I am going back to that mode, no trend. Let the EA take the trades and use your intervention to determine if the trade should stay or go. The zeroLag approach was something I wanted to try out. It's part of another EA that I am working on. I started using it manually, as I explained earlier. For...
Jess,Awesome stuff. Thank you for the explanation.In this case then I am going to turn off the auto trend and monitor my trade while waiting for your update.Thanks a lot,Will
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