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Price Action Trading with Indicators! The Freebie System

  • #8,341
  • Jun 2, 2016 3:55pm Jun 2, 2016 3:55pm
Jess, I noticed this occurance onb several trades where a trade was going wrong and the trade was cut short(as in this screen shot) Good thing but it came from the 5/30 download and not the last one. Also it seems to be inconsistent. Is this something that should be happening? I don't know if it has anything to do with it but this chart is on 1H timeframe while my other chart that is the last download is on the 15M timeframe.
Attached Image
  • #8,342
  • Jun 2, 2016 5:34pm Jun 2, 2016 5:34pm
Quoting keysharp
Jess, I noticed this occurance onb several trades where a trade was going wrong and the trade was cut short(as in this screen shot) Good thing but it came from the 5/30 download and not the last one. Also it seems to be inconsistent. Is this something that should be happening? I don't know if it has anything to do with it but this chart is on 1H timeframe while my other chart that is the last download is on the 15M timeframe. {image}
John does it do it cut the candle off on the same candle or the next candle? I think I see on your image that it did it on the same candle
Our AWESOME IMAGINATION is the true holy grail!
  • #8,343
  • Jun 2, 2016 5:42pm Jun 2, 2016 5:42pm
Quoting keysharp
Jess, I noticed this occurance onb several trades where a trade was going wrong and the trade was cut short(as in this screen shot) Good thing but it came from the 5/30 download and not the last one. Also it seems to be inconsistent. Is this something that should be happening? I don't know if it has anything to do with it but this chart is on 1H timeframe while my other chart that is the last download is on the 15M timeframe. {image}
John:
Let me explain what might be happening. In these versions there are a couple of safe guards I placed.
1. If on the very next candle price falls to 1/2 to the STOP LOSS, the EA closes the trade and done.
This was added cause many times the EA takes a trade and immediately price starts to plummet toward the STOP LOSS

2. CheckXBarsBack. (I think that is the input's name). If you set a number on this input the EA will then look back x bars from when a trade was opened. IF the trade is 25% toward the SL after the x bars from open, the EA CLOSES the trade.

Based on your chart it looks like the EA is closing the trade on the same bar, which it should not and I will fix it.
So looking at the SHORT that looks like it was immediately closed, it seems that the Long BAR went up to more than 50% of the stop. I am assuming that you are using the 1 ATR as a stop. The ATR is not that much.. and I would also assume that the long bar more than covered the 50% point.

Just give more details so I can make the correct adjustment. If you have any ideas on how to handle those pesky losers let me know and we'll implement it.

EDIT: Come to think of it, maybe I should change the conditions for the 50% drop when you are using like 1 ATR, From the other screenshots I have seen the 1ATR stop is than the 50 pips stop that some used in the previous version. Obviously with a shorter SL the 50% condition will be triggered a lot more than before.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,344
  • Jun 2, 2016 6:05pm Jun 2, 2016 6:05pm
Jess, all stop out's were on the same candle. And my checkbarsback=30 Yes, I am using the ATR as default.
  • #8,345
  • Jun 2, 2016 9:43pm Jun 2, 2016 9:43pm
Quoting keysharp
Jess, all stop out's were on the same candle. And my checkbarsback=30 Yes, I am using the ATR as default.
Alrighty then that means the 50% on next candle condition is one candle early. I'll change that and send an update soon.
I am looking into the stack trade to make sure that it is working... so maybe I'll also have the stack trading ready.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,346
  • Jun 2, 2016 11:38pm Jun 2, 2016 11:38pm
UPDATES

Fixed the 50% STOPLOSS condition

Turns out that I had he EA subtracting the currentTime from the openTradeTime . Since the openTradeTime is the past I was creating a time anomaly by wanting to subtract the present from the past lol.

I made an adjustment for when u are using the ATR. If the ATR multipler is greater than 2 then the 50% STOPLOSS condition will be applied.

So to recap this is what the 50% STOPLOSS means.
If one bar after a trade is open has as much as a 50% drop to the STOPLOSS, the trade is closed.

For the CheckBarsBack input:
If you put a number there it means that the EA will wait until X CheckBarsBack have passed from when the trade opened and check to see if the trade is in a loss. If it is in a loss the trade is closed

There is another input called CurrentTradesPercentProfit. Placing a number in this input will cause the EA to stop LOOKing for new trades when the total
of trades has reached that CurrentTradesPercentProfit value. If the account PercentPofit falls below that level the EA starts to look for new trades.
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v24.ex4   124 KB | 151 downloads
File Type: ex4 xm7_Freebie3C_EA_v14.ex4   118 KB | 148 downloads
File Type: ex4 xm7_FreebieBOLOSO_EA_v7.ex4   93 KB | 155 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,347
  • Jun 3, 2016 7:56am Jun 3, 2016 7:56am
This is what happens when one makes a good decision. One trade at NFP did this . Also got closed out early.
Attached Image (click to enlarge)
Click to Enlarge Name: AssetsFx MetaTrader4.png Size: 123 KB
  • #8,348
  • Jun 3, 2016 9:54am Jun 3, 2016 9:54am
Great results Key 😀
I still have my runners trailed but the overall feeling is that I got lots of small losses that ate up nearly all the profits.

X, the starting balance percent is not static and moves live the weekly profit. I think the starting balance should be static.

Sorry, I'm from my phone, can't post a screenshot.
  • #8,349
  • Jun 3, 2016 9:56am Jun 3, 2016 9:56am
Quoting keysharp
This is what happens when one makes a good decision. One trade at NFP did this . Also got closed out early. {image}
Nice!!!
Now do it for real LOL!

John I hope u are using the latest EAs I uploaded. Cause as I mentioned before there was a bug with the PercentProfit calculation. In order for it to work BEFORE the last updates, you had to restart the EA when u initially loaded it and not touch it, that is no input changes. Otherwise the EA would record the wrong percentage cause it would not include for example the profit from the beginning of the week, stuff like that.

The latest updated in the last post I made and of course at the download site http://xm7.info/ea/freebie has the fix and it has been fully tested.

Ok now, my question what to do you mean by good decision?? LOL Did u flip a coin? Did u read the stars LOL.

PEACE
Our AWESOME IMAGINATION is the true holy grail!
  • #8,350
  • Jun 3, 2016 10:18am Jun 3, 2016 10:18am
Quoting Reamasesa
Great results Key 😀 I still have my runners trailed but the overall feeling is that I got lots of small losses that ate up nearly all the profits. X, the starting balance percent is not static and moves live the weekly profit. I think the starting balance should be static. Sorry, I'm from my phone, can't post a screenshot.

Reamasesa:
I tested that all that percent stuff works and it does. Let me explain the starting balance thing is.

The starting balance shows the percentage yer account has gained since you started trading with this is account OR since you started trading with an EA. It's up to you what the starting balance is. The EA initially just picts whatever the Account Balance is the 1st time it is Loaded. From then on the EA remembers this starting amount, the amount does not change, unless u change it. You can change it but pressing F3 and changing the number for the variable that is called "Freebie_initBal".

The percentage includes this division==> AccountEquity/startingBalance. The AccountEquity will always show the most current status of the account value. So open trades will change the AccountEquity in real time whereas the startingBalance will be static(does not change). So you see it's just a measure for us to see how much our trading or an EA we is making to our account's value.

As for the Weekly profit, that also uses the AccountEquity however in this case the starting balance is the balance at the beginning of the week. So that equation includes ==>AccountEquity/BalanceAtStartOfWeek

I know the titles suck, that's cause I am engineer LOL. If you have an alternate that I can use to make the titles clearer let me know LOL.

Of almost forgot there is also the profit per EA. That one is a weekly profit as well. It adds up all the profit the EA generates as the week goes on and then compares it to the WeekStartingBalance.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,351
  • Jun 3, 2016 10:37am Jun 3, 2016 10:37am
Account UPDATES

Well, as you guys know while I was screwing around with the percent Profit thing I inadvertently closed out my BOLOSO trades on the live account.
Ended up with a 3.1% gain. Again I was tempted to run it but NAW... I'll wait till next week. A gain is a gain!

Right now I am not trading the other approaches. I am just concentrating on the BOLOSO and fixing what's left to fix of the EAs.

KRAPP!! I forgot tell you guys that on the LAST updated I included a new input:
WeekProfitStopLock

So now you can set the WeekProfitStopBE to the level where the EA will establish a BE in terms of percentage.
Then you can set the WeekProfitStopLock to tell the EA at what level to set the LOCK.

For example. I want the EA to set BE when the account reaches 10.5% and to LOCK profit at 3.3%.
WeekProfitStopBE =10.1
WeekProfitStopLock =3.1 (the default is 1%)

So when the account reaches 10.1% or greater the EA will close all trades if the account profit falls to 3.1%
Our AWESOME IMAGINATION is the true holy grail!
  • #8,352
  • Jun 3, 2016 12:27pm Jun 3, 2016 12:27pm
Thanks guys explaining, for me, you start at xxx, you gained or lost yyy, the DD in between shouldn't affect xxx until yyy had been reached.
Quoting xmess7
{quote} Reamasesa: I tested that all that percent stuff works and it does. Let me explain the starting balance thing is. The starting balance shows the percentage yer account has gained since you started trading with this is account OR since you started trading with an EA. It's up to you what the starting balance is. The EA initially just picts whatever the Account Balance is the 1st time it is Loaded. From then on the EA remembers this starting amount, the amount does not change, unless u change it. You can change it but pressing F3 and changing...
  • #8,353
  • Jun 3, 2016 1:05pm Jun 3, 2016 1:05pm
Quoting Reamasesa
Thanks guys explaining, for me, you start at xxx, you gained or lost yyy, the DD in between shouldn't affect xxx until yyy had been reached. {quote}
Yes, correct

You start $XXX and gain $YYY and the EA expresses that as a gain or loss.
3 things that are calculated are
1. Gain/Loss for account from when either the account was started or when the EA was initally loaded
2. Gain/Loss for account from the start of the week
3. Gain/Loss for the particular EA from the start of the week
Our AWESOME IMAGINATION is the true holy grail!
  • #8,354
  • Jun 3, 2016 1:16pm Jun 3, 2016 1:16pm
Quoting xmess7
{quote} Yes, correct You start $XXX and gain $YYY and the EA expresses that as a gain or loss. 3 things that are calculated are 1. Gain/Loss for account from when either the account was started or when the EA was initally loaded 2. Gain/Loss for account from the start of the week 3. Gain/Loss for the particular EA from the start of the week
It happens online, and as when the DD changes. It's not static.
  • #8,355
  • Jun 3, 2016 1:53pm Jun 3, 2016 1:53pm
Quoting Reamasesa
{quote} It happens online, and as when the DD changes. It's not static.
Ok, ok, I see what you mean. That was not the intention of the Starting Weekly Percent. Like I said it was intended to show the percent gain/loss of the account since it started. For example in my case I started the Oanda Live account with $500. Right now the account balance is $130. So my percent profit gain/loss is -74%. Which means since I started that the account has dropped 74%. That is the intention of the overall starting balance percent. It is just a measure of what your account has done since it started.

Now if you want I can include the Max, Min, Relative DDs and from what I understand they are not static they change cause the calculations are done using the Max/min levels of equity, and equity keeps changing. If you are interested I can add all 3 DD values .

But hold on!! LOL I got to get this stacking stuff done and I also have a couple of other projects too LOL
Our AWESOME IMAGINATION is the true holy grail!
  • #8,356
  • Jun 3, 2016 4:43pm Jun 3, 2016 4:43pm
Here is a stop out. If it hadn't been then this live account would be dead. A positive occurance thanks to ya'll for the idea.
Attached Image
  • #8,357
  • Jun 3, 2016 6:57pm Jun 3, 2016 6:57pm
Quoting keysharp
Here is a stop out. If it hadn't been then this live account would be dead. A positive occurance thanks to ya'll for the idea. {image}
John:
v15 would of allowed that trade to continue. Basically v14 is seeing that price has fallen 50% of the SL on the SAME candle and when it detects that it will close the trade. v15 will wait till the next candle before checking and based on the image v15 could of allowed the trade to continue. The protection would then depend on how you set your BE and Take profit etc etc.

My question is. what do you prefer v14 approach (very strict when the SL has a small range (about 30 or less pips) or v15, where it starts to look for the 50% drop on the next candle.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,358
  • Jun 3, 2016 7:13pm Jun 3, 2016 7:13pm
Stack/Scaling function

Guys:
I am in the process of testing the scaling function. I re-wrote the code so that now the stacking function depends on a step that you determine via the inputs.

Right now this what the stack function and inputs entail. Please let me know if we need to add or change or whatever.

Inputs
StackTradeStep = 0 (if u set a number the EA will start to scaling in new trades. this is the pip increment that the EA uses to consider opening a new stack trade.)
StackLotsMultiplier=0.5 (This is the factor that is multiplied to the lot value.. if this input=1 then the same lot size is used for each stack trade. If it is less than 1, then each new trade will have a smaller lot size as it is multiplied. If by mistake this number is 0 then the EA will multiply each lot by 0.1, this avoids it being 0).

The EA will make sure that the previous open trade is at BE before considering a new stack trade.
The EA will create a new trade once price is 1 StackStep above/below the price of the last open trade. All trades will open in the same direction, no hedging
Each new stack trade will have the use the StopLoss and TakeProfit that the first trade uses. I am referring to the pips not the price levels.
Each new stack is subject to the same BE, BE Lock, and TrailingStop rules as if it where a single trade. The EA will remember each of the BE, BE lock, and TrailingStop setting for each trade.

Please take a look at the logic and let me know if anything else is needed.
I should have this ready by tonite. for now I am taking a good walk...
Our AWESOME IMAGINATION is the true holy grail!
  • #8,359
  • Jun 4, 2016 12:41am Jun 4, 2016 12:41am
UPDATES to EAs

While testing the Stack Trading I found an error that would cause the EAs to not start ANY TRADEs. Fixed it.
Please down load the uploaded EAs. As always you can get the latest versions from http://xm7.info/ea/freebie

Oh just for kicks, during my testing of the stack function LOL I saw the following. LOL looks like alot of winning trades right? LOL
Once I get it working I am coming back to this "error" and will examine it to see if we can get something out of it.

Enjoy:
Attached Image (click to enlarge)
Click to Enlarge Name: Stacks.jpg Size: 70 KB
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v25.ex4   124 KB | 177 downloads
File Type: ex4 xm7_Freebie3C_EA_v15.ex4   118 KB | 140 downloads
File Type: ex4 xm7_FreebieBOLOSO_EA_v8.ex4   93 KB | 160 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,360
  • Jun 4, 2016 3:56am Jun 4, 2016 3:56am
UPDATE on functions.

Looks like we have a winner! I got all 3 functions to work properly. See the image below. It looks real kewl. Also notice that the the lotsizes are gradually getting smaller. I used a 0.5 multiplier so each new trade has half of the previous lotsize but you will be able to change that. This is going to be interesting when we use all of the conditions for trading.

Tomorrow I will wrap it up and upload the new updates. I will explain how the combination of the stacking with BE+Lock and TrailingStop works.

Enjoy:
Attached Image (click to enlarge)
Click to Enlarge Name: Functions.jpg Size: 198 KB
Our AWESOME IMAGINATION is the true holy grail!
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