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Price Action Trading with Indicators! The Freebie System

  • #8,301
  • May 25, 2016 9:19pm May 25, 2016 9:19pm
Boloso EA updated version.

Fixed multiple STOP ORDER bug.
Attached File(s)
File Type: ex4 xm7_FreebieBOLOSO_EA_v5.ex4   87 KB | 228 downloads
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  • #8,302
  • May 26, 2016 2:03pm May 26, 2016 2:03pm
Time for another update.

Looks like 3C had hit a rough week and ate up all the profits, Boloso, on the other hand, had a great week.
Both EAs hd runners, 3C still have some.
What I've found, is that even though the EAs have runners, the stopped out trades are slowly eating up the equity so when the runners end up at TP or JTS, they only cover for the losses and not adding too much to the overall equity.

Some suggestions

  1. Have another TP option - no TP, allow the trade to be closed by either the SL or the JTS
  2. Have ATR based SL
  3. Check X bars back on trade conditions, if by X bars the trade didn't kick into profit, we close it - this feature might close out trades that might go later into profit but the idea is to be consistent, not rely on runners only

On with the screen shots

Boloso, closed trades. did better than last week

Attached Image (click to enlarge)
Click to Enlarge Name: Boloso_Closed.PNG Size: 21 KB


Boloso, closed and open, there are two losing trades
Attached Image (click to enlarge)
Click to Enlarge Name: Boloso_Closed_Open.PNG Size: 21 KB


3C, closed. Ate up all of the profits from last week
Attached Image (click to enlarge)
Click to Enlarge Name: 3C_Closed.PNG Size: 20 KB


3C, closed and open, six trades, 300+100+57+22+6+11 (roughly)
Attached Image (click to enlarge)
Click to Enlarge Name: 3C_Closed_Open.PNG Size: 19 KB
  • #8,303
  • May 26, 2016 5:13pm May 26, 2016 5:13pm
Quoting Reamasesa
Time for another update. Looks like 3C had hit a rough week and ate up all the profits, Boloso, on the other hand, had a great week. Both EAs hd runners, 3C still have some. What I've found, is that even though the EAs have runners, the stopped out trades are slowly eating up the equity so when the runners end up at TP or JTS, they only cover for the losses and not adding too much to the overall equity. Some suggestions Have another TP option - no TP, allow the trade to be closed by either the SL or the JTS Have ATR based SL Check X bars back on...
Folks:
Thnx for the options Reamasesa. I am coding along the same lines. Except I add two more conditions to control SL.

1. IF on the next candle price falls 50% to SL, close trade (this is seen in cases where price just dives down/up on the next candle after the trade is started).
2. If profit is at -25% of SL and price has fallen below/above the open of the day (or whatever upper TF is used) close trade. We are using the direction of price on the upper TF to determine if we stay in a trade that has been in decline.

I have been monitoring these 2 conditions for a couple of weeks and approximately 85% of the time when those conditions happen a full SL is reached.
True any of these two conditions can turn around and turn the trade into profit, but let that be, we want to keep the loss low so we can get into those times when we heat the profit streaks.

Reamasesa:
There are options that removes the TP. I know.. the inputs are cut off and you can't see them
But in v22 and 3C you have a pull down where u set the BE you can pick:
Select_BE_Type=setBE_at_xPercent_FromTargetTP_Remove_TP

For Boloso: 1st set BE to X% and then set:
AfterBE_KeepTP=No

These will be fixed on the upcoming upgrade.
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  • #8,304
  • May 27, 2016 12:12am May 27, 2016 12:12am
Thanks but I didn't like those BE options 😊 so forgot all about them, I'm using fixed values.
Also, kindly remind me why we stopped stacking up trades?


And you SL options sound good.
Thanks.
  • #8,305
  • May 27, 2016 2:35am May 27, 2016 2:35am
Quoting Reamasesa
Thanks but I didn't like those BE options 😊 so forgot all about them, I'm using fixed values. Also, kindly remind me why we stopped stacking up trades? And you SL options sound good. Thanks.
No problem. I was trying to fit too much into the text and more than likely the idea got lost.

The idea is simple, basically, with the exception of 3C, the SL and TP are calculated by the EA.
With 3C the EA uses the SL you placed in the input and calculates the TP from the selection of ratio (2to1, 3to1 etc)

So the EA already knows the TP and SL. Then based on your inputs it looks to place the trade at BE and either remove or leave the TP.

As far as stacking trades, I have not been looking into that. Someone was working on that earlier.
J
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  • #8,306
  • May 27, 2016 7:59am May 27, 2016 7:59am
I like the idea of stacking but I have yet to have a trade hit TP. I always seem to be cut short by the yellow dot or I get the feeling of a reversal and stop and take the profit I have. I also think that is the problem with sl, that they close at the determined sl while tp is not closed at tp. And the EA does not generate sufficient trades to cover the losses. Although I have hit several SL with 3C, I am staying even but I also changed to 3sema for my autotrend instead of the zerolag. My next job is to stay away from the computer and let it do it's job.
  • #8,307
  • May 27, 2016 8:11am May 27, 2016 8:11am
Update on my experiment, I tried to recreate gianniko's situation which he ran on M5 TF. So, I did that and leave it on autopilot using trailing stop to compensate the manual intervention. The result was not good at all. My demo account went down by 50%. I am going to play around with the settings and by Monday I will do more test on lower TF.
  • #8,308
  • May 27, 2016 9:06am May 27, 2016 9:06am
I highly recommend manual intervention when u see profit, especially when u see it at the beginning of the week. Just close all open trades and close MT4 till the next week.

This has been my experience using Boloso on the Oanda live account. Not one week has gone by where there was at the least a 3% profit by Tuesday nite.

A couple of weeks ago when I was hitting 13% profit for the week, I noticed that by Monday evening I would already be flirting with 7-10%. Now in these last 3 weeks where I have not seen that but instead have noticed that by Tuesday, if there were open trades, the account would be at about 3-4%. This has consistently happened.

And of course the most OBVIOUS observation is that if I allow (which I have) the EA to run into the later part of the week, the account would get hit with a loss.
That so far has happened 100% of the time since I have been trading live with this OANDA account (GMT-5).

So based on this info, starting next week, I will implement these "rules" and stick to them. Real easy, no messing around, and just let the EA start the trades.
1. If by Tuesday evening (PDT) there are no trades, stop EA for the week
2. If by Tuesday evening account is up around 3-4%, Stop EA for the week
3. if by Monday evening account is at about 7-10%, allow EA to continue into Wednesday evening.
4. If EA has not hit profit target by Wednesday evening, stop EA for the week.

Eazy Peazy
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  • #8,309
  • May 27, 2016 9:48am May 27, 2016 9:48am
Quoting xmess7
I highly recommend manual intervention when u see profit, especially when u see it at the beginning of the week. Just close all open trades and close MT4 till the next week. This has been my experience using Boloso on the Oanda live account. Not one week has gone by where there was at the least a 3% profit by Tuesday nite. A couple of weeks ago when I was hitting 13% profit for the week, I noticed that by Monday evening I would already be flirting with 7-10%. Now in these last 3 weeks where I have not seen that but instead have noticed that by Tuesday,...
Hi,

Why not implement a button or a setting that says "when you reach X% profit, just manage existing trades. If open trades get profit to fall below X%, start trading again".

But I think working on the SL, or the exit strategy is important, if I hadn't let my runners run, and just close at XX% profit last week, this week I would have ended up in a loss as I had three runners going into this week and are, basically, what's keeping the profit while the other trades are hitting SL.


On another note, I've started to see Boloso trades closing for less than the 50 pips SL set in the settings. Much better. Thanks.
  • #8,310
  • May 28, 2016 8:07pm May 28, 2016 8:07pm
Guys:
Updates are coming up. I am going over some of the things we have been having problems and I am also adding the SL conditions we mentioned.

For now check out the Trailing Step test.

TrailingStop buy (https://www.youtube.com/watch?v=QW-vn1zSHjs&feature=youtu.be)

EA: 3C
Testing: Trailing step=20 pips.
The EA now will remove TP (if set) when using the Trailing Step
BE is not affected cause the Trailing Step will take care of that.

This one seems to be working properly now.

Stay tuned:
Jess
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  • #8,311
  • May 28, 2016 9:36pm May 28, 2016 9:36pm
Reamasesa u mentioned using ATR. So what would u consider we use?

The current period ATR or the Daily ATR?
How many periods? 10? 14? 24?

Let me know. I am looking into others for examples of what they use.
Jess
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  • #8,312
  • May 28, 2016 11:27pm May 28, 2016 11:27pm
Updates are coming.

Guys:
Believe it or not the EAs are just about ready for uploading. YESS!! But before I release them I am going to see if I can simplify the inputs.. especially the BE stuff.
So just as a heads up these are the things that were added to the updates:

1. JumpTrailingStop (JTS) is working. if JTS is used it will supersede BE and remove any TP settings automatically.

2. Check X bars back on trade conditions, if by X bars the trade isn't in profit, trade is closed

3 Check if next candle falls 50% to SL, close trade

4. Check when profit is at -25% of SL and if price has fallen below/above the open of the day, close trade

5. Check if +X% profit is reached. If so stop looking for new trades, unless if X% falls below level % level that was entered.

I looked at the STACKING function and did some modifications to it, will test it to make sure it works too. Tomorrow I will also add the ATS SL.

It's SATURDAY nite and time to go out and have some dinner and maybe watch the Xmen... LOL.
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  • #8,313
  • May 29, 2016 3:13am May 29, 2016 3:13am
Hi,

Thanks for the updates.

As for the BE/J/TS -
BE and J/TS are two different things, I have BE set to 25 pips and LOCK at 2 pips while the JTS is set to 36. I don't want the JTS to replace the BE, rather, it should respect it and the LOCK and move to BE+LOCK after first jump and not to BE (thus, removing the LOCK).
From the footage, it looks like the annoying dancing of the SL has been fixed, thanks.

As for the ATR -
I'd say, leave that for the user to decide. ATR period, time frame and multiplier should be user defined.

Are all the above applicable to both 3C and Boloso?

As for the X-Men -
Go see it!
  • #8,314
  • May 29, 2016 10:17am May 29, 2016 10:17am
Quoting Reamasesa
Hi, Thanks for the updates. As for the BE/J/TS - BE and J/TS are two different things, I have BE set to 25 pips and LOCK at 2 pips while the JTS is set to 36. I don't want the JTS to replace the BE, rather, it should respect it and the LOCK and move to BE+LOCK after first jump and not to BE (thus, removing the LOCK). From the footage, it looks like the annoying dancing of the SL has been fixed, thanks. As for the ATR - I'd say, leave that for the user to decide. ATR period, time frame and multiplier should be user defined. Are all the above applicable...
- BE/J/TS
No problem, that is a simple adjustment

-ATR SL
- alrighty then, we'll have an input so the user can select what they prefer

- Yes no more Dancing Trailing Stop (DTS) LOL. To say the truth I could of sworn I had fixed this a couple of version ago. I remember testing it and seeing the same thing you saw on the video. That was why I was confused as to why you were still reporting that it was not working. Who knows what happened I may of fixed it but then copied over the file with the older code and thought that it was the new code etc etc etc. But this time for SURE the correct code is in place.

- All the changes apply to all 3 EAs, v22, 3C, and Boloso.
Boloso has an added feature that right before it is about to fill the order, it checks to see where price is in relation to the Daily (or higherTF) open. If there is no agreement Boloso removes the Stop Order for no trade.

Again I do recommend that if u see profit by Tuesday say 3-4%, to close all trades and shut down the EA. This applies only of u are trading a couple of pairs. If you are trading several pairs then let the EA run so it can find the runners. Runners are the key to keeping your account in profit and possible running up to 1000 pips .
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  • #8,315
  • May 29, 2016 10:27am May 29, 2016 10:27am
Quoting xmess7
{quote} - BE/J/TS No problem, that is a simple adjustment -ATR SL - alrighty then, we'll have an input so the user can select what they prefer - Yes no more Dancing Trailing Stop (DTS) LOL. To say the truth I could of sworn I had fixed this a couple of version ago. I remember testing it and seeing the same thing you saw on the video. That was why I was confused as to why you were still reporting that it was not working. Who knows what happened I may of fixed it but then copied over the file with the older code and thought that it was the new code...
Thanks!

As for the last part, this is why I suggested that the EA only manages trades after X% of profit has been reached, this way, we'll get to, at least, save some profit and not let those SL trades get in the way.


Thanks again.
  • #8,316
  • May 29, 2016 2:45pm May 29, 2016 2:45pm
Stacking Question.

Currently the EA has a stacking option. A new stack is only created if:
1. the EA detects the trade conditions for a new trade
2. If the previous trade is already in profit

My question is:
Is there any interest in having a Stack Step input?
If there was a StackStep then the EA would look
for new stack trades after price has moved X pips (as defined by StackStep).
This would happen whether or not new trade conditions appeared.

Let me know if anyone would like to have the StackStep feature.

Almost done, I am in the process of testing the stack function.
I have already added the BE and BE Lock considerations to the trailing stop function
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  • #8,317
  • May 29, 2016 3:04pm May 29, 2016 3:04pm
Quoting xmess7
Stacking Question. Currently the EA has a stacking option. A new stack is only created if: 1. the EA detects the trade conditions for a new trade 2. If the previous trade is already in profit My question is: Is there any interest in having a Stack Step input? If there was a StackStep then the EA would look for new stack trades after price has moved X pips (as defined by StackStep). This would happen whether or not new trade conditions appeared. Let me know if anyone would like to have the StackStep feature. Almost done, I am in the process of testing...
I would, please.
The way I see it, when you have a +100 pips runner, most likely the EA won't be taking any more trades since it is not likely we'll get another failed pivot or any other trade conditions or if you do, they'll be too spaced out to be considered worth taking. So, if for the first 50 pips or so the EA didn't detect anything and I can stack up one or two trades, what's wrong with that, eyh? BTW, what will happen with the stack up (I had to, sorry) trades' JTS? Will each have its own BE+LOCK and JTS or will they be following the initial one? I'd vote for a set for each in case they're too close to the JTS and get's closed for nothing more then a small move up or down.


Thanks.
  • #8,318
  • May 29, 2016 3:29pm May 29, 2016 3:29pm
Agreed. The stacking feature is a must. If there is a runner It may be impossible to be at the computer to add trades. One concern I have is that the lot size needs to be smaller than the initial trade. There is always the possibility of tying up a lot of margin. What is the thinking on this?
  • #8,319
  • May 29, 2016 4:48pm May 29, 2016 4:48pm
Stacking Step feature

Ok I will add this to the EA. MAN!!! I Was about to upload the new EAs too!! LOL.

John:
you bring up an interesting dilemma. We do need to consider margin as we are stacking up. Two ways to do it.
1. have EA look at the margin and if there is enough good otherwise no further stacking
2. Cut down the lotsizes as stacking progresses and ALSO look at the remaining margin (like 1 if enuf good otherwise no further stack).

So you want both options available?? OR do we pick one?

Let me know man, I am on a role!! I ma programming like fast right now LOL.
But before that I got to go get lunch.... a late lunch at that.... I'll be back...

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  • #8,320
  • Edited May 30, 2016 6:51pm May 29, 2016 7:35pm | Edited May 30, 2016 6:51pm
UPDATES of all 3 EAs

But before that please read the Stack Trades Questions:

OK Guys I got some questions.
1. What should we use as a stopLoss for the new stack trades?
2. Which do you prefer, scale down on lots or use same initial lotsize as new stack trades are added (in both cases we check for enough margin before going on)

Based on what I have seen in other scripts this is what I will do in the mean time (this will be available on the next version, not this one):
1. Stack trades will be independent of approach conditions and will be initiated when price crosses a StackStep.
2. Each stack trade will have it's own SL and (if any)TP. The SL will be determined by ATR with multiplier you pick. TP for now, 3xATR.
3. Each stack will also be affected if u enable the Trailing Stop function. ALL trades will have their own SLs moved when
price Jumps to the next TrailingStopStep. In this case TP will be ignored.
4. Each Stack Trade will have it's own BE+Lock.

Alrighty. Below are images of the inputs and a brief explanation of what they do. Some inputs you should recognize but there are new inputs that affect the control of the STOP LOSS. These were added so we can cut down on the FULL stops we see. If you have questions on the setup please let me know. Note the Boloso also has an input that is unique to it, it controls whether or not a STOP ORDER should be placed.

Please note that this version does not have the new STACK OPTIONS. IT will still STACK but only if previous trade is BE and if a new condition for trading using the rules appears. The Trailing stop and BE options will also be applied to any STACK TRADE.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Inputs_Only_Boloso.jpg Size: 50 KB
Click to Enlarge Name: Inputs_Trend.jpg Size: 69 KB
Click to Enlarge Name: Inputs_BE.jpg Size: 127 KB
Click to Enlarge Name: Inputs_Atr.jpg Size: 116 KB
Click to Enlarge Name: Inputs_Sl_Conditions.jpg Size: 114 KB
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v23.ex4   124 KB | 184 downloads
File Type: ex4 xm7_Freebie3C_EA_v13.ex4   119 KB | 192 downloads
File Type: ex4 xm7_FreebieBOLOSO_EA_v6.ex4   93 KB | 193 downloads
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