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Price Action Trading with Indicators! The Freebie System

  • #8,281
  • May 19, 2016 3:24am May 19, 2016 3:24am
Quoting xmess7
Alrighty, I want to share with you a couple of things that lately I "discovered". Actually for right now I will just show you what I put together based on Mr Robinho 1x8 thread. ...
Hi,

From what I've gathered while quickly browsing through the thread, is that it's more of a scalping technique. They got for 5 pips TP and 20 pips SL, not to mention that they mostly abide by the rules but not always.If you take all the red arrows and add to a winning trade with a "basket" JTS/TP or SL, you might get more than just take the arrows. I must say I don't fully understand the method and that I don't have a lot of time to trade so I'm mostly into searching for a decent EA or something I could manually trade which won't need me glued to the screen so I'm more into basketting lately more than anything
Looking at your charts, I can see some full SL but if we get the other signals to accumulate, thus having more "profit volume" to sustain the spikes and maybe drag along into profit, eventually.

Not sure I'm making myself clear, sorry.
  • #8,282
  • May 19, 2016 3:39am May 19, 2016 3:39am
Quoting xmess7
Alrighty, I want to share with you a couple of things that lately I "discovered". Actually for right now I will just show you what I put together based on Mr Robinho 1x8 thread. Like I said they are doing a great job with the H line trading. In fact once I get a chance I am going to code an EA for that approach. It has merit and at the least 90% of it can be programmed. What I mean by 90% is that the EA will do everything but the elements that I see from the trades Mr Robinho does will not all be there. So what did I do? I combined our failed pivot...
Thumbs up xmess. I have been trying to figure out a similar trading method. Mainly with the currency strength on the direction of the daily candle. Am following you closely. Let's do this. I will try to contribute to my level best. You have my support.
  • #8,283
  • May 19, 2016 5:07am May 19, 2016 5:07am
Quoting Reamasesa
{quote} Hi, From what I've gathered while quickly browsing through the thread, is that it's more of a scalping technique. They got for 5 pips TP and 20 pips SL, not to mention that they mostly abide by the rules but not always.If you take all the red arrows and add to a winning trade with a "basket" JTS/TP or SL, you might get more than just take the arrows. I must say I don't fully understand the method and that I don't have a lot of time to trade so I'm mostly into searching for a decent EA or something I could manually trade which won't need...

Reamasesa:
Yep that is correct. LOL funny that u noticed that they do not follow their own rules LOL.

Let me tell you what I have discovered. I am seeing that if u study any good EA and determine for example that it reaches 10-30% in a certain time period, for example there are several GRID EAs that show stuff like that right? But then what happens? Eventually the account blows up due to either a trend or whatever.
So what I do is take the EA test it weekly and and find it's profit limits and of course when it start to crash. Then using that info I create the criteria or limits of Profit, and loss. SInce I know the EA produces I am staying way within it's profit potential. I just want consistent day to day profit. Now how do I combat the blowup? Well for now I have the EA detect when the account is starting to FALL and when a certain level is reached the EA STOPS.. But I just realized this. Where one EA blows up another profits!! Hmmm. Dang why not just have the EA switch strategies?? Then either have it continue with that strategy until the same happens and then u switch or etc etc. Just ideas man... just ideas.

Let me show u the equity curve of an EA I recently modified. Descent Equity but in those parts where the balance starts to fall I could of easily switch to an EA that works ... and continues the increase. I don't mind the DD as long that in the long run we continue getting profit. LOL but of course I already have the other EA LOL...
So soon... I'll put the puzzle together.

Enjoy..
Attached Image (click to enlarge)
Click to Enlarge Name: neverloseagainEquityGraph.jpg Size: 274 KB
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  • #8,284
  • May 19, 2016 5:11am May 19, 2016 5:11am
Quoting Smartboi
{quote} Thumbs up xmess. I have been trying to figure out a similar trading method. Mainly with the currency strength on the direction of the daily candle. Am following you closely. Let's do this. I will try to contribute to my level best. You have my support.
Smartboi: Welcome. So what did u find out? I mean how can we use the CM in combo with the Daily candle?
Our AWESOME IMAGINATION is the true holy grail!
  • #8,285
  • May 19, 2016 5:16am May 19, 2016 5:16am
Quoting Reamasesa
{quote} Hi, From what I've gathered while quickly browsing through the thread, is that it's more of a scalping technique. They got for 5 pips TP and 20 pips SL, not to mention that they mostly abide by the rules but not always.If you take all the red arrows and add to a winning trade with a "basket" JTS/TP or SL, you might get more than just take the arrows. I must say I don't fully understand the method and that I don't have a lot of time to trade so I'm mostly into searching for a decent EA or something I could manually trade which won't need...

You are correct there are some full SLs but I didn't zoom in for you guys some of those trades that looked like FULL SLs had about 10-20 pips of positive move.
One thing that could be done is to create the EA so that it would scalp those instances that where the arrows show up. Since the pivots and the open price indicators do not repaint then we have a chance. I am monitoring one of the indicators, even though these indicators do not repaint we do have to consider the price can and does change direction so that the open price indicators may see flucuations. But lets see what we can find cause I am banking that by the time a pivot is failed that those other indicators are fairly set.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,286
  • May 19, 2016 5:52am May 19, 2016 5:52am
Quoting xmess7
{quote} You are correct there are some full SLs but I didn't zoom in for you guys some of those trades that looked like FULL SLs had about 10-20 pips of positive move. One thing that could be done is to create the EA so that it would scalp those instances that where the arrows show up. Since the pivots and the open price indicators do not repaint then we have a chance. I am monitoring one of the indicators, even though these indicators do not repaint we do have to consider the price can and does change direction so that the open price indicators...
I understand what you're saying, I'm just trying to avoid scalping as it doesn't suit my style and day time job, so for me, I'm searching for the longer trades. So it went 10 pips in our favor, got stopped out and continue without us. Why not join on later, again? 1 lot sized trade for a 10 pip TP is better than 10 smaller trades?
And if you take spread into account, TP is less then 5 pips, unless you add it and then price needs to travel longer, leaving you exposed longer.

But on a brighter note, adding to those trades might be a good way to work around this.
  • #8,287
  • May 19, 2016 12:56pm May 19, 2016 12:56pm
Quoting Reamasesa
{quote} I understand what you're saying, I'm just trying to avoid scalping as it doesn't suit my style and day time job, so for me, I'm searching for the longer trades. So it went 10 pips in our favor, got stopped out and continue without us. Why not join on later, again? 1 lot sized trade for a 10 pip TP is better than 10 smaller trades? And if you take spread into account, TP is less then 5 pips, unless you add it and then price needs to travel longer, leaving you exposed longer. But on a brighter note, adding to those trades might be a good way...
Believe me I too don't really care for scalping or less for sitting hours in front of a computer to trade (well it's not the same if u are programming LOL) . I enjoy the H4 and D1 TFs cause it they are sooooo stress free to trade .

But, hec if I can create an EA that will do all that scalping for me, why not? All we need is a successful program that will be consistent. I think we have a chance to do just that. For example I am already testing a scalping EA. So far the logic is working. In the last 3 days, I manually start the EA at 9PM PDT. By 10:00 to 10:30PM the EA is done and has captures 1.4% profit. So in 3 days the account has grown 4.4%. Now if in the first instant that the EA has consecutive loses then I will STOP IT and wait say a week or maybe 2 and start using it again. This is just an example of course. There are probable other thing I can do but as I move forward I will discover them. But for now the KISS principle is in place and it is working.. (KISS==> Keep It Simple Stupid)
Our AWESOME IMAGINATION is the true holy grail!
  • #8,288
  • May 19, 2016 11:15pm May 19, 2016 11:15pm
Quoting xmess7
{quote} Believe me I too don't really care for scalping or less for sitting hours in front of a computer to trade (well it's not the same if u are programming LOL) . I enjoy the H4 and D1 TFs cause it they are sooooo stress free to trade . But, hec if I can create an EA that will do all that scalping for me, why not? All we need is a successful program that will be consistent. I think we have a chance to do just that. For example I am already testing a scalping EA. So far the logic is working. In the last 3 days, I manually start the EA at 9PM...
Jess,

So I have created a new demo account (10k balance) to test this on lower timeframe like gianniko does. However, after I attached everything on the chart, I receive a pop up message saying that my account does not has a balance even after I input the balance of my demo account on global variables.

Maybe you or anyone else here could help me?

Thanks,
Will
  • #8,289
  • May 19, 2016 11:34pm May 19, 2016 11:34pm
Quoting wwaluyo
{quote} Jess, So I have created a new demo account (10k balance) to test this on lower timeframe like gianniko does. However, after I attached everything on the chart, I receive a pop up message saying that my account does not has a balance even after I input the balance of my demo account on global variables. Maybe you or anyone else here could help me? Thanks, Will
wwaluyo:

No to worry. As long as the EA has a smiling face it is working. For whatever reasons some brokers will not show the account balance when you first start an EA. So what I did was just in case that happen to set the global variable Freebie_initBal to $10000. The Freebie_initBal is used by the EA to calculate the overall percent profit.
That amount should not change cause it represents the amount u started to trade with for that account.

If you guys recall we use to have the zero divide problem. That was cause the EA would find $0 for the balance and when the percentage profit was calculate a zero divide would appear cause the EA would divide something by the value of Freebie_initBal, which would be 0.


As long as you updated the global variable (by hitting F3 and modifying Freebie_initBal=10000) then the EA will run with no problems.

In the next up which I will release this weekend, I will fix that message. It was more like warning than anything else it does not affect the trading other than to calculate the overall percent profit.

YOUR GOOD TO GO
Our AWESOME IMAGINATION is the true holy grail!
  • #8,290
  • Edited 6:06am May 20, 2016 5:56am | Edited 6:06am
Quoting gianniko
[Quote = xmess7; 8.925.730] {quote} molto interessante. Sta usando il TF 5min .... hmm ... gianniko, qual stato il tuo SL ?? Vedo fermate dalla 10-30pips SL? Ha u chiudere manualmente i mestieri ?? Thnx [/ quote] Hello, stop loss 10, trail step 10, NO breakeven, these are the settings.
Hi Gianniko,

Is that the only setting do you use and leave the rest on default or leave the rest based on Jess's set file?
I am going to duplicate your approach but I am going to leave on full auto-pilot using trail stop to compensate manual intervention.

Thanks,
Will
  • #8,291
  • May 20, 2016 6:18am May 20, 2016 6:18am
J.,
I completely get you. If I could get my hands on such a scalper, I'll be more than happy to let it run and make small increments to my account.
I just don't want to manually scalp because of time constrains

Time for the end of week update, I guess. All measures are from 01.01.2015

Boloso, closed trades only (no open trades)
Attached Image (click to enlarge)
Click to Enlarge Name: Boloso_Closed_Open.PNG Size: 21 KB


3C, closed trades only
Attached Image (click to enlarge)
Click to Enlarge Name: 3C_Closed.PNG Size: 19 KB


3C, open and closed trades
Attached Image (click to enlarge)
Click to Enlarge Name: 3C_Closed_Open.PNG Size: 20 KB
  • #8,292
  • May 20, 2016 8:32am May 20, 2016 8:32am
Reamasesa, where did you get the unique report of your trade summary?
  • #8,293
  • May 20, 2016 9:11am May 20, 2016 9:11am
Quoting keysharp
Reamasesa, where did you get the unique report of your trade summary?
Hi, I got it from SHF, it's been posted several time there, you can find it and several other useful stuff in this link http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?f=87&t=4525Regards
  • #8,294
  • May 24, 2016 5:52am May 24, 2016 5:52am
2016.05.24 06:45:06.341 cannot open file 'C:\Users\Jon\AppData\Roaming\MetaQuotes\Terminal\73E2702548EE744228FF7F99DB7D476F\MQL4\indicators\#MTF_ZeroLag_xm7.ex4' [2]

Jess I don't remember what this is. I checked all my settings and they seem to be alright. I am getting infrequent trades, but not frm all pairs.
  • #8,295
  • May 24, 2016 7:37am May 24, 2016 7:37am
Quoting keysharp
2016.05.24 06:45:06.341 cannot open file 'C:\Users\Jon\AppData\Roaming\MetaQuotes\Terminal\73E2702548EE744228FF7F99DB7D476F\MQL4\indicators\#MTF_ZeroLag_xm7.ex4' [2] Jess I don't remember what this is. I checked all my settings and they seem to be alright. I am getting infrequent trades, but not frm all pairs.
Maybe try downloading the file again?
http://xm7.info/ea/freebie (http://xm7.info/ea/freebie)
  • #8,296
  • May 24, 2016 8:16am May 24, 2016 8:16am
Quoting keysharp
2016.05.24 06:45:06.341 cannot open file 'C:\Users\Jon\AppData\Roaming\MetaQuotes\Terminal\73E2702548EE744228FF7F99DB7D476F\MQL4\indicators\#MTF_ZeroLag_xm7.ex4' [2] Jess I don't remember what this is. I checked all my settings and they seem to be alright. I am getting infrequent trades, but not frm all pairs.

Jon:
All that is saying is that you are missing the indicator #MTF_ZeroLag_xm7.ex4'. Go to the folder:
'C:\Users\Jon\AppData\Roaming\MetaQ uotes\Terminal\73E2702548EE744228FF 7F99DB7D476F\MQL4\indicators
and make sure u have it in there. Otherwise like COmputerNick indicated you may need to upload it again.

Guys:
Updates are coming soon. I been busy this week, but should have the new stuff up soon.
J
Our AWESOME IMAGINATION is the true holy grail!
  • #8,297
  • Edited 9:21pm May 25, 2016 1:18am | Edited 9:21pm
BOLOSO update.

Ok here's an update to the BOLOSO EA. You will also need the indicator that I have uploaded for version to work.

The EA now allows for 2 STOP ORDERS (BUY/SELL) at a time.
If the EA finds a new trade with a better price, it will delete a previous STOP ORDER and place the new STOP ORDER with the better price.

You now have control over a new input:
Min_SL_Distance=45
This input controls the minimum STOP LOSS distance that an EA has to SEE before creating a STOP ORDER.
With that default of 45pips you guys have noticed that it does not create that many STOP ORDERS so for those that want to see more ORDERS just make the number smaller.

The profit calculation has also been fixed (I hope LOL).
The EA will also determine if an order needs to be canceled due to the Upper TF changing directions.

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

EDIT: one more thing. Leave the UseAutoTrend=None. That will allow for the EA to look for more trading opportunities.
Update: Bug was fixed and this version will work properly
Attached File(s)
File Type: ex4 M-CandlesSW1.ex4   9 KB | 268 downloads
File Type: ex4 xm7_FreebieBOLOSO_EA_v5.ex4   87 KB | 213 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,298
  • May 25, 2016 1:41am May 25, 2016 1:41am
Quoting xmess7
BOLOSO update. Ok here's an update to the BOLOSO EA. You will also need the indicator that I have uploaded for version to work. The EA now allows for 2 STOP ORDERS (BUY/SELL) at a time. If the EA finds a new trade with a better price, it will delete a previous STOP ORDER and place the new STOP ORDER with the better price. You now have control over a new input: Min_SL_Distance=45 This input controls the minimum STOP LOSS distance that an EA has to SEE before creating a STOP ORDER. With that default of 45pips you guys have noticed that it does not...
Thanks for the update. I'll throw it on my charts later on tonight.
What does the indicator do? Did you have a chance to look at the JTS and adaptive SL in this version?



Thanks again.
  • #8,299
  • May 25, 2016 9:01am May 25, 2016 9:01am
Quoting Reamasesa
{quote} Thanks for the update. I'll throw it on my charts later on tonight. What does the indicator do? Did you have a chance to look at the JTS and adaptive SL in this version? Thanks again.
The indicator is basically an MTF for the daily open. Nothing fancy just trying to determine trend in the simplest way and with no lag.
Of course the risk is that at any moment price can turn around but like I indicated I put some logic in there that if that does happen and your STOP Order does NOT match the direction, then that STOP ORDER is deleted.

No, but what I want to do is show you what the current JTS does. I will post a video demonstrating how it performs then from there we can discuss if it is correct or incorrect or whatever so we can get it to work as it is expected to work.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,300
  • May 25, 2016 9:04am May 25, 2016 9:04am
BOLOSO EA Update

For now don't use version 5. I need to work on the logic that looks for the better price.
I slapped it on my real account and saw a bunch of order modifications. It should only do that once or a couple of times and plus there was not real need to make the modification since there was no better price for the given STOP ORDER.

Well actually you can use it, just be aware that you may see alot of order modifications.

I'll have the fix by tonite.
J
Our AWESOME IMAGINATION is the true holy grail!
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