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Forex Breakout Direction Indicator v3

  • #161
  • May 4, 2016 2:36pm May 4, 2016 2:36pm
At the moment I'm thinking of using a ATR 100 days

40% level will be the Stop Loss

20% level will be TP1
40% level will be TP2
60% level will be TP3
100% level will be TP4

Thoughts?
  • #162
  • May 4, 2016 3:58pm May 4, 2016 3:58pm
Quoting krager
At the moment I'm thinking of using a ATR 100 days 40% level will be the Stop Loss 20% level will be TP1 40% level will be TP2 60% level will be TP3 100% level will be TP4 Thoughts?
yes that what i mean for the tps... great idea

i think 60 days could be enough average range for tp

and for sl i like too
  • #163
  • May 4, 2016 4:01pm May 4, 2016 4:01pm
Quoting braddock69
{quote} yes that what i mean for the tps... great idea i think 60 days could be enough average range for tp and for sl i like too

or maybe better only for 10-20 day avg range, because market is changing and with 10-20 days we are more up to date
  • #164
  • May 4, 2016 4:48pm May 4, 2016 4:48pm
I thought again about the tp, i think maybe better to calculate tp and sl from the breakoutrangesize.. because when you calculte from avg range 100 day and this range maybe is 100 and the breakoutrange for example is 70, then you have 70 pips + 100 pips for tp 4 , its to big tp, because then price needs a range from 170 pips and you have only a 100 day avg range from 100 Pips.
When you calculate with the breakoutrange then tp 4 is 70 pips.
  • #165
  • May 5, 2016 12:38am May 5, 2016 12:38am
Todays valid setups are

30 min charts
EURCHF BUY
NZDCAD BUY

1 hour charts
CADCHF SEL
CADJPY SELL
EURCAD BUY
USDCAD BUY
  • #166
  • May 5, 2016 2:11am May 5, 2016 2:11am
Good idea to try and use the ATR. I fell like 100 days are indeed maybe too much, 60 days (3 months) may be better as this is more up to date.
  • #167
  • May 5, 2016 8:56am May 5, 2016 8:56am
Just to let everyone know that v4 is now in development

v4 includes -

ATR to set stop loss, take profit and if to trade depending on range size (currently set at standard 80 pips)
Removing of Sell and Buy Limits
Multi time frame signal strength
Moving stop loss to break even once TP1 hit
Moving stop loss to TP1 once TP2 hit
Moving stop loss to TP2 once TP3 hit
Clearer news trading rules
Clearer moving average filters
Trading a 100% signal regardless of where EMA's are (testing)

All customers that have v3 will automatically get the v4 update
  • #168
  • Edited 9:23am May 5, 2016 9:13am | Edited 9:23am
perfect craig

when i can give one idea more is:

put in multi emas ( h4, D1, weekly and montly 20, 50 and 200) that we can see the emas from higher timeframes in m30 or h1.... this safed me a lot of times from false breakouts.

example is today usdcad... in m 30 or h1 you cannot see the 200 ema from h4... but there is a 200 ema from h4 when breakout , and this is dangerous
same nzdcad... there are sma daily 50 sma and 200 sma few pips after breakout. price needs a big move to break them.

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  • #169
  • May 5, 2016 9:47am May 5, 2016 9:47am
sorry my fault.. the emas are seperate and are not in the indi... this we can do maualy with the multi ema indi i posted few pages before , sorry craig.
  • #170
  • May 5, 2016 11:22am May 5, 2016 11:22am
Hi Craig- how much of what I put down below is being incorporated into v4 please? Thanks for your efforts in making this strategy the best!

Definitely make the EA more semi automatic and more in tune with the indicator so that all you have to do is say yes or no to a trade and that's it. After that the EA takes over. Then after the trade is taken no more trades can be taken on that pair until the trades(s) are closed. There should be an option to close all trades at 10 pm London time.
Then after the trades are closed the EA reverts to no trades.
  • #171
  • May 5, 2016 1:53pm May 5, 2016 1:53pm
Quoting aagarcia
Hi Craig- how much of what I put down below is being incorporated into v4 please? Thanks for your efforts in making this strategy the best! Definitely make the EA more semi automatic and more in tune with the indicator so that all you have to do is say yes or no to a trade and that's it. After that the EA takes over. Then after the trade is taken no more trades can be taken on that pair until the trades(s) are closed. There should be an option to close all trades at 10 pm London time. Then after the trades are closed the EA reverts to no trades....
Definitely make the EA more semi automatic and more in tune with the indicator so that all you have to do is say yes or no to a trade and that's it

Unable to do this, mainly down to cost, I will keep the Ea has it is, i.e you look at the indicator and then select the buy or sell direction

There should be an option to close all trades at 10 pm London time

This will be in the next EA

Regards

Craig
  • #172
  • May 5, 2016 3:54pm May 5, 2016 3:54pm
Quoting krager
{quote} Definitely make the EA more semi automatic and more in tune with the indicator so that all you have to do is say yes or no to a trade and that's it Unable to do this, mainly down to cost, I will keep the Ea has it is, i.e you look at the indicator and then select the buy or sell direction There should be an option to close all trades at 10 pm London time This will be in the next EA Regards Craig
Thanks for your reply. Will you still have to go back in and deactivate the EA after a trade is taken so it doesn't take the same type of trade again?
  • #173
  • May 6, 2016 12:26am May 6, 2016 12:26am
Quoting aagarcia
{quote} Thanks for your reply. Will you still have to go back in and deactivate the EA after a trade is taken so it doesn't take the same type of trade again?
Yes you will

Contact me if you want a quote for a custom made option for your EA
  • #174
  • May 6, 2016 12:28am May 6, 2016 12:28am
Today I'm trading and testing for v4 with no EMA filters, Range, TP and SL based on ATR 100 days

Trades set up are

CHFJPY SELL
EURCHF SELL
EURNZD BUY
NZDCHF SELL
  • #175
  • Edited 1:46pm May 6, 2016 1:32pm | Edited 1:46pm
Quoting krager
Today I'm trading and testing for v4 with no EMA filters, Range, TP and SL based on ATR 100 days Trades set up are CHFJPY SELL EURCHF SELL EURNZD BUY NZDCHF SELL
End of day trading results

CHFJPY activated 2.94% account growth 148.5 pips banked

https://www.myfxbook.com/members/afk...kforex/1620427

End of week results

0.04% account growth, 162.8 pips banked
  • #176
  • May 6, 2016 4:40pm May 6, 2016 4:40pm
Quoting krager
{quote} End of day trading results CHFJPY activated 2.94% account growth 148.5 pips banked https://www.myfxbook.com/members/afk...kforex/1620427 End of week results 0.04% account growth, 162.8 pips banked

i'm guessing that wasn't a set and forget trade because no trades were taken on my account today?
  • #177
  • May 7, 2016 3:32am May 7, 2016 3:32am
This was yesterdays trade taken on CHFJPY banking 148.5 pips using the new v4 principles, which I will continue to test next week

Entry, Stoploss, Targets, Trailing Stop and Range all based on a certain % of ATR

Blue line = entry
Green line = TP levels
Red line = SL level

Once TP1 hit, Stoploss was moved to Break even by EA
Once TP2 hit, Stoploss moved to TP1 level

False Breakout conditions not used

All orders closed at 7pm London time
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  • #178
  • May 7, 2016 3:45am May 7, 2016 3:45am
Results - started 31.03.16

Monthly
May 2016
Pips gained = 162.8
Account growth = 0.04%

April 2016
Pips gained = 1050.8
Account growth = 47.99%

Yearly
2016
Pips gained = 1271
Account growth = 51.47%

www.forexbreakout.co.uk
  • #179
  • May 7, 2016 3:50am May 7, 2016 3:50am
Quoting fiscelan
Good idea to try and use the ATR. I fell like 100 days are indeed maybe too much, 60 days (3 months) may be better as this is more up to date.
I plan to make the ATR adjustable in v4, so even tho I'm basing my system on ATR of 100 days, you could select 60 days,which the indicator and EA will auto adjust the entry, take profit, stoploss, trailing stop and range values to your settings
  • #180
  • May 7, 2016 3:56am May 7, 2016 3:56am
Quoting braddock69
I thought again about the tp, i think maybe better to calculate tp and sl from the breakoutrangesize.. because when you calculte from avg range 100 day and this range maybe is 100 and the breakoutrange for example is 70, then you have 70 pips + 100 pips for tp 4 , its to big tp, because then price needs a range from 170 pips and you have only a 100 day avg range from 100 Pips. When you calculate with the breakoutrange then tp 4 is 70 pips.
The breakout range will be set to a % of the ATR, so for example if ATR = 100 and Range box is 70 pips, then this would not be a valid set up. I think the Range box needs to be maximum 50% of the ATR.

I will think about creating a version where TP levels is calculated from the range box, I do think this is a good idea, but I will complete the v4 project first, then if funds are available look at costing up a indicator and EA that could do this
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