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Price Action Trading with Indicators! The Freebie System

  • #8,221
  • May 3, 2016 2:26pm May 3, 2016 2:26pm
Quoting keysharp
With the zerolag indicator being used as the autotrend setting I don't think this constant losing is what is supposed to happen. {image}
JOHNNY
That is NOT RIGHT...... show me the logs. This is tallinex right??
Dang john u always come u with the great challenges
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  • #8,222
  • May 3, 2016 2:50pm May 3, 2016 2:50pm
Quoting keysharp
With the zerolag indicator being used as the autotrend setting I don't think this constant losing is what is supposed to happen. {image}

John:
I took a quick look. I think the 1st buy was valid cause the zeroLag still experiences LAG Lol. That means that at the time the zeroLag was still regsitering a Long Trend.
However the rest should not of happened, cause by that time the zeroLag would be registering SHORT. I'll run a start test tonite to see what results I get. I check the code and there is nothing funny.

BTW john that indicator on the upper right. The one that shows the TFs and diff arrows. Is that the daily candle open indicator?
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  • #8,223
  • May 3, 2016 4:13pm May 3, 2016 4:13pm
Quoting xmess7
{quote} LOL Reamasesa Guess what. Since I closed the account manually I forgot to close an OPEN ORDER!! This is the second time I do this LOL GBPUSD long. I it did ok for a bit but then fell hard and I closed the trade with a loss. So now the account is down 7% for this week. I DOUBLE CHECKED everything this time so now for SURE NO TRADING!! Dumb lessens My stop loss is always 50 pips for the BOLOSO. I let the EA calculate the lotsize based on that and the 5% risk I enter. All in all, this is not a bad loss (including the DUMB aSS loser...

Mine too a full SL, too. Still in overall good profit, as well
  • #8,224
  • May 3, 2016 6:03pm May 3, 2016 6:03pm
Quoting xmess7
{quote} John: I took a quick look. I think the 1st buy was valid cause the zeroLag still experiences LAG Lol. That means that at the time the zeroLag was still regsitering a Long Trend. However the rest should not of happened, cause by that time the zeroLag would be registering SHORT. I'll run a start test tonite to see what results I get. I check the code and there is nothing funny. BTW john that indicator on the upper right. The one that shows the TFs and diff arrows. Is that the daily candle open indicator?
Jess, that is Law girl's indicator. it shows the stoch direction in several time frames. It gives a good idea of the trend direction all in one place.

by the way don't want to be a pain but somebody's got to do it. This week has been a disaster because the ea senses a pa direction change and the trend is still going in the direction that it had been moving. I am thinking that as Dredding had said that the Haiken candles are necessary. I guess we can think on that.
  • #8,225
  • May 3, 2016 6:47pm May 3, 2016 6:47pm
John:
I can't see why u had that string of losers. Those trades should not of happened(well maybe with the exception of the 1st) cause the zeroLag was pointing in the direction of the price movement and it was not up. So as for the HA candles, what do u recommend?

I am going to be using the original freebie for a bit to see what consistency I can get. So far it did well TOO WELL lol. One trade... and it hit profit target.
Next week will be interesting.

Let me know John. I am all fingers.... coding that is..
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  • #8,226
  • May 3, 2016 8:25pm May 3, 2016 8:25pm
UPDATE on EAs

Guys, I just saw an error on the 3C EA. So I corrected it and just in case did the same to the regular Freebie.

Here you go:
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v21.ex4   117 KB | 196 downloads
File Type: ex4 xm7_Freebie3C_EA_v11.ex4   109 KB | 196 downloads
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  • #8,227
  • May 3, 2016 11:55pm May 3, 2016 11:55pm
Have any of you guys heard of FXChoice?
It's an off short broker that allows US clients.
Obviously they allow hedging but more importantly larger leverage.
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  • #8,228
  • May 4, 2016 1:34am May 4, 2016 1:34am
Quoting xmess7
Have any of you guys heard of FXChoice?
It's a good broker. I am a client of them.
  • #8,229
  • May 4, 2016 11:49am May 4, 2016 11:49am
Quoting xmess7
Have any of you guys heard of FXChoice? It's an off short broker that allows US clients. Obviously they allow hedging but more importantly larger leverage.
Looks like a good operation. Easy sign up. Hard part is the funding. US citizens must use BitCoin, Wire or Epayment. Epayment is a bugger too sign on to and they do take time. Told me at least days. The sign up site is epayment.com.
  • #8,230
  • May 4, 2016 12:20pm May 4, 2016 12:20pm
I must be doing something wrong. I have xm7_Freebie3C_EA_v11.ex4 on several pairs on my demo account. On Monday, had 2 trades, both winners but now it says that I've hit my weekly percent and it won't take anymore trades till next week. I restarted my terminal, bumped up the weekly percent to 50, but still no trades.
  • #8,231
  • May 4, 2016 1:22pm May 4, 2016 1:22pm
Quoting dallmanb
I must be doing something wrong. I have xm7_Freebie3C_EA_v11.ex4 on several pairs on my demo account. On Monday, had 2 trades, both winners but now it says that I've hit my weekly percent and it won't take anymore trades till next week. I restarted my terminal, bumped up the weekly percent to 50, but still no trades.

You don't need to restart the terminal. All you need to do is change the target profit input. Did try changing the input on each chart? Let me know if you did that or if it didn't work. Otherwise set Weekly_Percent_Profit_Target=0 on all the charts you have the EA on. 0 means disable.

Now lets just verify that you hit the target percentage. Do the following (plus this will tell us if we have a problem to fix).

Look at your history tab and select custom period (right click your mouse anywhere on the history tab window) .
Select the start date from starting Sunday till May 1, 2016, leave the end date it should already be set to Friday or something.
Look at your total profit/loss on the far left column (u may need to scroll down to see the total).

Then calculate the currentPercent (this is what the EA sees).

ProfitPercent = (Profit/Loss for this week)/Current Equity
Then multiple by 100 to get the final percent

Example:
Say my total profit/loss for the week is: $20.
Current Equity/Account Balance is: $300
TargetProfit is: 5%.

So current Percent profit = ($20/$300) x 100 = 6.7%

So since 6.7% is greater than 5% the EA will not allow any new trades.

You where right by bumping it up to 50% cause then the EA will re-compare and find that 6.7% is less then 50% and thereby continue to trade.

Let me know if you don't get these numbers or if what I suggested above does not work.

thnx
Jess
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  • #8,232
  • May 4, 2016 1:30pm May 4, 2016 1:30pm
Quoting keysharp
{quote} Looks like a good operation. Easy sign up. Hard part is the funding. US citizens must use BitCoin, Wire or Epayment. Epayment is a bugger too sign on to and they do take time. Told me at least days. The sign up site is epayment.com.

Oh really? bitcoin? I already have a wallet so that should be no sweat. Talking about bitcoin has any of you looked into trading it? How about etheruem. The blockchain code idea is so simple an it's interesting to know that with that you can create virtually anything that comes to mind. I been dabbling lately with this stuff...
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  • #8,233
  • May 4, 2016 10:13pm May 4, 2016 10:13pm
Folks:

I gotz and idea. I have been observing Robinho'd Thread. His approach is based on TRO's very old Horizontal Line trading scheme.
I saw something that perhaps we can use.

What caught my attention was how he uses a Currency Meter and a market session to determine what pair to trade and what currency is strong/weak. . So I was thinking that we this may be a way for us to filter our trades to those that REALY count when the trend is moving.

For example. The EA would detect that it is at the London Session. It would then only be interested in those pairs that had GBP and EUR vs say USD and JPY.
Then it would look the currency meter to see how strong or weak they are and make the combinations that would be traded based on that info. or any of the currencies is. Do ya see what I mean? It would add the dimension that if the EA found all the Freebie conditions for say EURUSD and in addition that strongest currency at that moment was EUR with the USD being the weakest. This would filter down the trades cause of the added strength condition to those combinations of currency that shows strength and matched the upper Trend direction.

The EA would continue and do the same thing in different session for different currencies and come up with different combination. For example in the ASIAN session only pairs with AUD, NZD, USD, JPY would be considered for trading. (this can be changed to the users preference in pairs too).

Of course we would need to relax the pivot rule on the EAs, right now it is fairly tight (like one condition and that is it). This would allow for more trades to be looked at.

I am going to slap on a currency meter and will try to make an indicator that will take note of what happens to certain pairs during the sessions I mentioned.
Lets see if this can help, all we need is for the pair to be moving at the moment that the upperTrend is in the right direction and maybe this strength thing can get us closer. The rest is already working. That is the only thing left for this to be ZEE ultimate EAs. LOL.

Ideas/comments... are all welcomed.
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  • #8,234
  • May 5, 2016 12:51am May 5, 2016 12:51am
New update!

I have been tracking this zeroLag LAG!!! LOL and I think I have a solution that may help.
Many times I noticed that price LEADS as the color of the zeroLag LAGS LOL.

Sounds funny... anyway. I noticed that if I place a buffer that I can have the EA avoid some of those lag times.

For example today the 3C EA took 3 short trades on AUDUSD. Well I kept closing them and the EA kept detecting the conditions and creating a new trade.
Of course the zeroLag was showing short trend. I noticed that price was UP like 30 pips above the zeroLag line. I had seen this in a couple of other pairs as well.

So I created a buffer that tells the EA not to trade whenever Price is > than 27 pips (this can change later) above/below the zeroLag line. So in essence I am saing that if Price deviates from the zeroLag line opposite to the trend that the zeroLagLine shows, not to take a trade. Now we may miss some good trades but I think this may help avoid those times that price has actually CHANGED direction when the zeroLag has not. It's sort of like a no-man zone, if that zone happens no trade... until the zone is cleared.

Hec if this works we may be able to use HA candles on the higher TF or even the 20MA or who knows.

So Attached are ALL the files that have been updated. As always the latest and greatest can also be found at http://xm7.info/ea/freebie

NOTE: I added a Print statement that shows the value of the closed candle, the zeroLag Line, and the difference between both in pips. This will help to make sure that the logic is correct and it may also help with what John has experienced. We can tell with that print statement more or less what the zeroLag line is say(long or short) and get that problem he saw fixed.
Attached File(s)
File Type: ex4 xm7_Freebie_Indicator_v20.ex4   128 KB | 238 downloads
File Type: ex4 xm7_Freebie3C_Indicator_v10.ex4   129 KB | 207 downloads
File Type: ex4 xm7_FreebieBOLOSO_Indicator_v3.ex4   123 KB | 210 downloads
File Type: ex4 xm7_Freebie_EA_v22.ex4   117 KB | 217 downloads
File Type: ex4 xm7_Freebie3C_EA_v12.ex4   109 KB | 211 downloads
File Type: ex4 xm7_FreebieBOLOSO_EA_v4.ex4   84 KB | 197 downloads
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  • #8,235
  • May 5, 2016 3:54am May 5, 2016 3:54am
Quoting xmess7
New update! I have been tracking this zeroLag LAG!!! LOL and I think I have a solution that may help. Many times I noticed that price LEADS as the color of the zeroLag LAGS LOL. Sounds funny... anyway. I noticed that if I place a buffer that I can have the EA avoid some of those lag times. For example today the 3C EA took 3 short trades on AUDUSD. Well I kept closing them and the EA kept detecting the conditions and creating a new trade. Of course the zeroLag was showing short trend. I noticed that price was UP like 30 pips above the zeroLag line....
Hi,

Thanks for the update, I'll replace the EAs on my charts later on tonight when I am home.
Is this update also fixes the SL issue?

And on another note, I would like to think of a more adaptive SL, for example, I'm watching EURGBP right now and 3C took a trade and it's nearly at SLhowever, given the fact that price was heading downwards for quite some time now, it would have made sense to use the previous low(+BUFFER) to negate the SL (50 pips) from getting hit.
I don't mind small SL but I got 3-4 full SL the last couple of days and from the looks of it, I'm heading for another one.
Sorry for not posting a chart, I'm not in front of a decent screen just my phone. EURGBP M15, if you're interested.
I don't have the indicator on my chart as it crashes my entire terminal, but I'm pretty sure the conditions for the buy had changed.


Thanks.
  • #8,236
  • May 5, 2016 12:44pm May 5, 2016 12:44pm
Quoting Reamasesa
{quote} Hi, Thanks for the update, I'll replace the EAs on my charts later on tonight when I am home. Is this update also fixes the SL issue? And on another note, I would like to think of a more adaptive SL, for example, I'm watching EURGBP right now and 3C took a trade and it's nearly at SLhowever, given the fact that price was heading downwards for quite some time now, it would have made sense to use the previous low(+BUFFER) to negate the SL (50 pips) from getting hit. I don't mind small SL but I got 3-4 full SL the last couple of days and from...

Reamasesa: Consider using windows remotedesktop, teamviwer, or VNC. You can remote into your desktop and at least look at the terminals. It's a little bit of a pain if u have a small screen on your phone . That's why I like to have those huge displays, when I look at them I the smaller window I can see them clearly .

I am still looking into the JTS concern you have. I plan to simulate a trade and show what the current JTS does and I would like your(or anyone's) comments on it.

So if I understand, you would have the EA change the SL to, for example, a nearby lower Low (or higher high) that has a smaller distance than the initial SL?

Dude it can be anything. For example we can have a time based delay,r a candle number base delay, or even a price direction based condition to trigger the EA to change the SL to something smaller that it's initial value.

Please expand your idea.

J
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  • #8,237
  • May 6, 2016 8:18am May 6, 2016 8:18am
Quoting xmess7
{quote} Reamasesa: Consider using windows remotedesktop, teamviwer, or VNC. You can remote into your desktop and at least look at the terminals. It's a little bit of a pain if u have a small screen on your phone . That's why I like to have those huge displays, when I look at them I the smaller window I can see them clearly . I am still looking into the JTS concern you have. I plan to simulate a trade and show what the current JTS does and I would like your(or anyone's) comments on it. So if I understand, you would have the EA change the SL to,...
Hi J,

I already have those installed on my phone as I can't connect to my PC at home from work, still the screen is too tiny for me to do too much on/with it and more often than not, I find myself deleting things I shouldn't have, open trades I shouldn't have and in general wreck havoc so I'm trying very hard to limit what I do on my phone when connected to my home PC.

As for the EURGBP, furst, let me say that I love how the 3C and Freebie took small losses and only full SL every once in a while but recently, maybe because I've added more pairs, I'm seeing full SL more and more often.
I'm attaching the EURGBP screen shot, as you can see, even when price retraced, it was a pretty sure down (mini) trend that could have been avoided if I was manually trading this trade. I still didn't upgrade my EAs and indicators and the current version of the indicators I'm using are crashing my terminal so I don't have any on my charts but I'm pretty sure the criteria for keeping the trade had change somewhere along the middle of the down movement, maybe mid pivot or something but there wasn't any buy trigger either to reinforce this trade.

Now, there are a lot of methods to make the SL adaptive but I'm sure we don't want to introduce anything like that into the system, we have a set of rules we can work with for that but since I can't analyse this due to the indicator issue I'm asking you, or anyone else for that matter, to analyse the chart and see if by the system rules we could have dropped it earlier without having to endure the full SL.

Also, if you could explain the way the indicator is working, maybe I'll just construct it using other indicators? That would be helpful as I don't want to over load you with work.


On an on, That's how my EAs are looking, hands free, no weekly profit (BTW, do I have to set it every week? I vaguely remember reading something about it).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3C.PNG Size: 33 KB
Click to Enlarge Name: Bol.PNG Size: 32 KB
Click to Enlarge Name: EURGBP.mM15.png Size: 51 KB
  • #8,238
  • May 7, 2016 2:38am May 7, 2016 2:38am
Quoting Reamasesa
{quote} . {image} {image} {image}
Reamasesa:
Thnx alot for the detailed information. Really good stuff. So let me start to explain what we could do and what happened with your EURGBP full SL.
I can tell you right now... if you had used the latest EA, that trade would not of happened. Unfortunately I noticed a bug that we had experienced not long ago. A bug I thought I had fixed. The bug was that once in a while the EAs will look at the previous Days pivots and use them instead of the pivots for today. In order to save cpu I tried to have the EA calculate the new day pivots at the instant that the new Day or Period started, so it would only be done once a day or whatever. But it looks like it skips this once in a while and since the EA remembers... well it remember the last day pivots.

I have fixed this and now the EAs will calculate today's pivots each time it finds a new 3sema with zigzag. In addition I have it print the highests, lowest, and pivot levels along with the conditions in the EXPERT Tab. So anyone can double check these values by slapping on the xm7_pivot indicator and comparing the lines with those numbers.


So with that said see the image below. The idea that I have for dealing with the SL is to have 3C use the last pivot below or above it. That way usually you will have a smaller SL to deal with.

Also notice the buffer I point out. That's the difference between where the trade starts and the zeroLag indicator. The upgraded EAs have a buffer of 27pips but we could bring it down to 10 pips. So consider your trade, since more than likely the zeroLag was showing positive trend and the open price was greater than 10 pips below the zerloag, that would of been a no trade situation.

Comments/thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: 3C_EURGBP_examine.jpg Size: 363 KB
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  • #8,239
  • May 7, 2016 2:50am May 7, 2016 2:50am
Reamasesa:

Since u are having problems with the indicators here is a template for the 3C approach.
A 3C trade has the following
1. 3sema (above/below)
2. zigzag (above/below)
3. failed pivot


the zeroLag is used to determine upper trend direction
green - long
yellowish - short

The reason you are probably having problems is cause the indicators are heavy front loaded. What that means is that the indicators will load as much info at the beginning when they are just loaded. Once that part is over, then it's faster. What is all that info? IT's the prevoous days pivots. 3semas, zigzag, and the trade conditions for whatever nPeriods u indicate.

Question does your broker have a Sunday candle?
Attached File(s)
File Type: tpl freebie_3C.tpl   21 KB | 226 downloads
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  • #8,240
  • May 7, 2016 3:04am May 7, 2016 3:04am
Quoting Reamasesa
..That's how my EAs are looking, hands free, no weekly profit (BTW, do I have to set it every week? I vaguely remember reading something about it)...

About the Weekly profit. You don't have to set it every week. The EA will close ALL trades and stop trading whenever the account reaches the target percent profit you indicated in the input 'Weekly_Percent_Profit_Target'.

The 'Weekly_Percent_Profit_Target' is based on the percent that your account changed from the beginning of the week.

For example say that my account balance last Sunday was $4000 and I set Weekly_Percent_Profit_Target to 11. So when $4000 increases to 11% during the week the EA will close all trades and STOP trading. So when $4000 reaches $4440 done for the week. The EA will then only start trading until the NEW week starts or if you raise the 'Weekly_Percent_Profit_Target'.

Now I also added this input: WeekProfitSetBE
This input allows you to set the overall account to BE when the account balance reaches that level.
Using $4000 as my starting week balance and if I make WeekProfitSetBE=5
Then when the account balance reaches 5% ($4200) it will set a BE of $4040.
If the balance falls down to $4040 then the EA closes all trades and Stops Trading.

I have not tested the BE yet so please monitor it if anyone uses it. After the losses (not bad losses) that I have seen on my accounts I could of used a BE.
This was especially true this last week cause my accounts at one point were up. All I had to do was place the profitBE and I would of walked away with no losses this week.
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