EA required using Livelli indicator made 600 pips | Page 3 | Forex Factory

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EA required using Livelli indicator made 600 pips

  • #41
  • May 14, 2016 5:47am May 14, 2016 5:47am
Quoting raylin
{quote} You could use the strategy like that if you wanted . I prefer to just have a trailing stop of 30 pips on each entry You could have 10 buy entries on blue dots and 5 sell entries on the red dots each with there own trailing stops of 30 pips I haven't managed to get the EA working yet so in the mean time I will be trading the 4 hour time frame next week on the pound /Yen
Now I understand I will have a go at coding this as well. Are you having trouble writing it or does it take too many bad trades?
So many in the Commercial section want to make me rich! :o
  • #42
  • May 14, 2016 10:09am May 14, 2016 10:09am
Quoting FX-Flux
{quote} Now I understand I will have a go at coding this as well. Are you having trouble writing it or does it take too many bad trades?
Why don't you do a visual back test on the major pairs .You will find that you do take bad trades as well as good trades
The bad trades get stopped out for for a maximum of 30 pips some will get stopped out for 20,10 or maybe 5 pips loss
Your good trades will keep you in the market and your only decision you have to make is how many pips do you want to make
Some days (not very often) the market will trend nicely and you will have 6 trades stacked up with no losses I have seen 600 pips for just one pair
I did say a target of 400 pips was what we should aim for but I think 200 pips per pair is realistic
There are bad days especially when the average true range is low but on the whole I think we might have a winner
  • #43
  • May 14, 2016 11:26am May 14, 2016 11:26am
Hi Rayli.. can we backtest the ea and see result how is going ?
  • #44
  • May 14, 2016 11:31am May 14, 2016 11:31am
Could we combine with this for better accuracy?
Attached File(s)
File Type: ex4 SS_SupportResistance_v04c.ex4   55 KB | 466 downloads
So many in the Commercial section want to make me rich! :o
  • #45
  • May 14, 2016 12:58pm May 14, 2016 12:58pm
Feel free to back test I can not get the EA to load yet error messages or displayed
I have no interest in loading any more indicators Why complicate a system . The Ea as not had more than 24 hours of testing
I believe in KISS Keep It Simple Stupid
One indicator is enough if I can win 50% of the time with a two to one return I will be extremely happy
  • #46
  • Edited May 15, 2016 12:35am May 14, 2016 5:37pm | Edited May 15, 2016 12:35am
Quoting FX-Flux
Could we combine with this for better accuracy?
Probably wouldn't add much in the way of independent value, as both the Livelli and Slipshod S/R indicators derive their price levels from the same zigzag/fractal based concepts.

Quoting raylin
if I can win 50% of the time with a two to one return I will be extremely happy
As indeed anybody should!
  • #47
  • May 14, 2016 8:59pm May 14, 2016 8:59pm
Updated ea. Welcom to test the EA. This is a test version. when it pass and become better, i will post the version for live.
Attached File(s)
File Type: ex4 Trade by livelli_sr_now v1.1.ex4   19 KB | 487 downloads
  • #48
  • May 15, 2016 3:20am May 15, 2016 3:20am
Quoting lghr
Updated ea. Welcom to test the EA. This is a test version. when it pass and become better, i will post the version for live. {file}
Thanks Ighr we must give it at least a one weeks testing before going live
I have had other thoughts on when to stop the EA
If we started the EA and we had 5 buy trades and no sell trades it would be pointless trading out if 400 pips had been gained .
It would probably be better to let the EA run until it was stopped out by some other means
Say a cross of the 20 and the 5 ema's
This of course does not need to be programmed into the EA as the EA could be stopped manually
Someone also mentioned not to use a trailing stop on any of the buys or sells but just have a 100 pip overall trailing stop in place
Thats a possibility but needs testing
Thanks again Ighr
  • #49
  • Edited 7:20am May 15, 2016 4:37am | Edited 7:20am
More logical to go for the 100 pips trailing stop closing all trades on 5 ema 20 ema crossover
100 pips overall stop loss gives 990 pips
Trailing stop on combined trades would give 228 pips
Sorry made a mistake the the trades using the 100 pip trailing stop would have all been stopped out on the retracement
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpysb-m15-monecor-london-ltd[1].png Size: 48 KB
  • #50
  • May 15, 2016 11:12am May 15, 2016 11:12am
Quoting lghr
Updated ea. Welcom to test the EA. This is a test version. when it pass and become better, i will post the version for live. {file}
Hi lghr,

Could you post your mql4 file? So everyone can update code for your EA.

Thanks,
  • #51
  • May 15, 2016 11:52am May 15, 2016 11:52am
The exe file is in the first post the Mq4 file is attached here.
I am not sure but most programmers install the indicator within the program.
Been back testing on different currencies but still undecided which stop loss to use ie 30 trailing stop
for each trade or 100 pips overall.
I suppose the real test is to just run it under the strategy tester on various settings
Attached File(s)
File Type: mq4 lli_sr_now.mq4   5 KB | 563 downloads
  • #52
  • Edited 8:42am May 16, 2016 7:10am | Edited 8:42am
EA running nicely at the moment
Running on pound/yen, Euro/yen ,and Usd /cad
Picking up trades at the correct places
All pairs are running at a loss at the moment as the markets are going sideways
Have decided to use 100 pip overall trailing stops rather than individual trailing stops
I hope I have set up the parameters correctly with everything set to zero except overall trailing stop set to 1000
and overall profit set to 4000
  • #53
  • May 16, 2016 8:57am May 16, 2016 8:57am
update, add trading time and pairs
Attached File(s)
File Type: ex4 Trade by livelli_sr_now v1.2.ex4   25 KB | 559 downloads
  • #54
  • May 16, 2016 9:05am May 16, 2016 9:05am
today's result.
Attached Image (click to enlarge)
Click to Enlarge Name: result.JPG Size: 262 KB
  • #55
  • May 16, 2016 11:13am May 16, 2016 11:13am
here's my days summary so far.... what i don't understand is how to set TP etc
Attached Image (click to enlarge)
Click to Enlarge Name: 16_May.JPG Size: 271 KB
  • #56
  • May 16, 2016 12:30pm May 16, 2016 12:30pm
Yes I am having the same problem
I have set all the individual stop losses and trailng stops to zero .
Just take profit 4000 and stop loss 1000 for the combined trades also monitoring the trades during the day
I am concerned when starting up the EA that there is only one livelli level or the other livelli point is too
far away ie 50 to 100 pips
Its a bit worrying that you could have an hedge of minus 50 pips or more if both trades are taken.
For that reason I am considering waiting for the first buy or sell stop to be taken and if there is not
a livelli in the opposite direction or one within 30 pips I will manually place a trade 30 pips from the first entry.
Of course if another livelli level developed between the two trades without activating the manual trade
then I would cancel the manual trade.
The EA looks really promising and must congratulate Ighr on is programming skills
  • #57
  • May 16, 2016 1:32pm May 16, 2016 1:32pm
I've attached a second chart firstly to see if you think my other settings are correct. Secondly as you can now see i have moved from being at one time over £600 positive to now as i write over £600 negative.

What actually is the strategy for taking profit? How does it happen? I usually spread bet the dax only, nothing else centered on a 5 min chart, i haven't looked at anything else for years and would have taken profits along the way so i may be missing something conceptually, if so can you tell me, I'd appreciate it

thanks
Robin
Attached Image (click to enlarge)
Click to Enlarge Name: 16_May_b.JPG Size: 368 KB
  • #58
  • May 16, 2016 1:41pm May 16, 2016 1:41pm
my mistake the ea has actually closed three trades for a balancing profit the chart is attached... I'd still like a better understanding of how profit and losses are taken

thanks again
Robin
Attached Image (click to enlarge)
Click to Enlarge Name: 16_May_c.JPG Size: 376 KB
  • #59
  • May 16, 2016 2:33pm May 16, 2016 2:33pm
Can someone explain the logic of this indicator? Never heard of it before?
  • #60
  • May 16, 2016 2:42pm May 16, 2016 2:42pm
I think they act like micro support and resistance. I read the comments in the indicator code, and he refers to these levels as support and resistance.
Quoting vaibhavjha
Can someone explain the logic of this indicator? Never heard of it before?
So many in the Commercial section want to make me rich! :o
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