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Forex Breakout Direction Indicator & EA v4 (Set & Forget)

  • #21
  • Jun 15, 2016 6:22am Jun 15, 2016 6:22am
Quoting silversurfer
I have eurjpy showing as a valid sell and eurchf has breached it's range for the day - anyone else have anything different? EJ: http://screencast.com/t/A7pT8j3i ECHF: http://screencast.com/t/WXagivYFJ Could you do a screen print of those 2 charts Craig so I can compares, all these versions have created a bit of confusion I think.
You must have a setting wrong.

The range max setting = 33% of the ADR. If the 20 ADR of EURJPY = 110.7 pips then 33% of 110.7 = 36.5

There is again no valid trades today, as the range box broke the maximum allowed range
Attached Image (click to enlarge)
Click to Enlarge Name: Check Range Max.png Size: 35 KB
  • #22
  • Jun 15, 2016 6:26am Jun 15, 2016 6:26am
33% is a very tight range.

If, for example for easy calculation, the pairs ADR = 100

If the range = 33 and buffer = 4 then this gives a calculation of 37

With the stoploss at 40, this makes sure the stoploss will be on the other side of the range box.

If your feeling more risky, you can increase the Max range box up to a maximum of 80 (which was version 1 setting), but please be advised, on big Asian trading sessions, the stoploss would be somewhere in the middle of the range box, not on the other side of the range box

Hope that makes sense?
  • #23
  • Jun 15, 2016 1:09pm Jun 15, 2016 1:09pm
Hi krager

Checked my settings for FBDIv4 and they are exactly the same as on post 5. However i've changed my spread setting from 2 to 4 as per your post 21.

SO for some reason I got the same signal as silver surfer which is different to yours. I also double checked my GMT time but that is fine. I use a broker whose charts are based on uk time.

What pairs are you trading?
  • #24
  • Jun 15, 2016 2:38pm Jun 15, 2016 2:38pm
Quoting optitrader
Hi krager Checked my settings for FBDIv4 and they are exactly the same as on post 5. However i've changed my spread setting from 2 to 4 as per your post 21. SO for some reason I got the same signal as silver surfer which is different to yours. I also double checked my GMT time but that is fine. I use a broker whose charts are based on uk time. What pairs are you trading?
The settings on post 5 are for a broker that uses 2 hours ahead of London time, not UK time.

If your broker MT4 is on current London time i.e time in London now is 20:36 and your MT4 time is 20:36 then you will need to adjust your settings

Email me at [email protected] if you need some support, as I don't wish to discuss specific traders times on here, as I remember from v3 that made the forum very messy and confusing

I trade all pairs where the spread is 10 or less

Regards
Craig
  • #25
  • Jun 15, 2016 3:48pm Jun 15, 2016 3:48pm
With a range of 33% it will be interesting to see how many trades are generated. Is this what your eurchf looked like: http://screencast.com/t/420WZAbku
  • #26
  • Jun 15, 2016 3:55pm Jun 15, 2016 3:55pm
Quoting silversurfer
With a range of 33% it will be interesting to see how many trades are generated. Is this what your eurchf looked like: http://screencast.com/t/420WZAbku
No your range max is 34.6, mine is 17

ADR Period = 20 yes? (setting within the FBDI indicator and Daily Range PeterE, please check both)

The ADR 51.7 * 33% = 17

If you want, you could trade the aggressive account as the same direction only as the standard account, but increase the range max to 80% (i'm doing this on a demo account on the side for my own benefit, but not recording results as yet)
  • #27
  • Jun 15, 2016 9:27pm Jun 15, 2016 9:27pm
I looked at a range of 67% as I was concerned there would hardly be any trades, interested to see how the 80% setting goes. I guess that's what you meant by wanting to delay the release until you were happy - I'm happy to wait until the settings are optimised thru trial and error.
  • #28
  • Jun 16, 2016 12:30am Jun 16, 2016 12:30am
Quoting silversurfer
I looked at a range of 67% as I was concerned there would hardly be any trades, interested to see how the 80% setting goes. I guess that's what you meant by wanting to delay the release until you were happy - I'm happy to wait until the settings are optimised thru trial and error.
Any reason why 67%? As in two thirds? (66%)
  • #29
  • Jun 16, 2016 12:38am Jun 16, 2016 12:38am
Today's trades

No JPY, GBP, CHF or USD pairs

No valid trades with 33% range

Just for my own benefit, with 80% range, valid set ups are

AUDCAD BUY
NZDCAD BUY
  • #30
  • Jun 16, 2016 1:19am Jun 16, 2016 1:19am
same here krager I have no valid set up today.

have you run version 4 and version 1 simultaneously to see which of the 2 systems is more profitable?

Thanks
  • #31
  • Jun 16, 2016 2:26am Jun 16, 2016 2:26am
Just the reverse of 33% basically - no science at all!

Interested in optitraders question - the quest to find the right settings
  • #32
  • Jun 16, 2016 12:01pm Jun 16, 2016 12:01pm
Quoting optitrader
same here krager I have no valid set up today. have you run version 4 and version 1 simultaneously to see which of the 2 systems is more profitable? Thanks
I'm not running v1 system now. The system was making profit, but required the trader to close the trades manually when a daily account target (1-3%) was achieved. This system was "mocked" by some traders saying that it was not "Away From Keyboard," hence my quest to make a fully 100% Set & Forget system.

However, the benefit of v4 now, is that it uses the Average Daily Range for each pair (v1 used a standard "one size fits all" figure) and also if the trader still wishes to close the account manually, when the account reaches a daily accounr growth target, they can do so
  • #33
  • Jun 17, 2016 1:09am Jun 17, 2016 1:09am
Hi Guys

I have no valid set up today with the 33% adr. No had any set up this week. Can I confirm with you guys that you've not had any valid set up's today.

Hopefully they'll be trades on next week.

have a good weekend
  • #34
  • Jun 17, 2016 1:15am Jun 17, 2016 1:15am
Krager my box finishes forming at 8 am uk time (GMT +1) i.e when the london market opens. Is that right or is my box meant to finish at 7 am uk time (GMT +1)
  • #35
  • Edited 1:47am Jun 17, 2016 1:25am | Edited 1:47am
Update

I will admit, the conditions seems very hard in order to meet a valid trade. Please understand it's very hard for me to create a system that pleases everybody. Some people like to trade conservatively, others bit more aggressive. I may have rushed out this version, breaking under pressure from a few traders, however, this doesn't mean that v4 is the finished article.

Currently the signal direction and strength uses the Advance ADX indicator, there is in development a new way on how the signal strength is calculated which will be out soon.

The Forex Breakout Direction Indicator isn't a holy grail system, no such thing is out there. This system was released on 31.03.16 (not even 3 months old yet) and I have devoted my time and efforts, responding to feedback to adjust and tweak the system, and we continue to do so

First edit to v4 is below-

Conservative system
Trade when range = 33% or less
Trade when signal strength = 100%

Aggressive system
Trad when range = 80% of less
Trade when signal strength = 80% or more
Does not use the All Averages Indicator

Today's Aggresive trades are -
CHFJPY SELL
GBPAUD BUY
GBPJPY SELL
  • #36
  • Jun 17, 2016 1:32am Jun 17, 2016 1:32am
gbpjpy the all averages indi dont show constantly red and is not above the box:

Attached Image


why you take this trade?

same in gbpaud. all average day before is not constantly blue like you write in the rules?
  • #37
  • Jun 17, 2016 1:47am Jun 17, 2016 1:47am
Quoting braddock69
gbpjpy the all averages indi dont show constantly red and is not above the box: {image} why you take this trade? same in gbpaud. all average day before is not constantly blue like you write in the rules?
Sorry my mistake, updated post 33
  • #38
  • Jun 17, 2016 11:51pm Jun 17, 2016 11:51pm
I'm going to be Away From Keyboard for a few weeks now.

If you want to trade the Forex Breakout Direction Indicator system, please trade with v4 rules, as I know this is a safe method.

I'm now working on v5 (which was going to be v4) which uses a different indicator to show signal strength and direction. I need at least 6 weeks to test this and get it right.

Speak to you all end of July...
  • #39
  • Jun 18, 2016 6:33pm Jun 18, 2016 6:33pm
so i guess i need to cancel my set and forget membership? How will I be refunded?
  • #40
  • Jun 20, 2016 9:50am Jun 20, 2016 9:50am
Thanks Krager

Look forward to V4.1.

I was wonder if incorporating a currency strength meter might help. Just a thought.

Please take as long as you need to, to perfect the system. The ones that want to trade conservatively should'nt trade at all. If they can't handle a losing trade their in the wrong business. What matters is that at the end of a period week/month that the account has grown.

Has anyone had any trades today? I had no set ups today. Hopefully will have a valid set up tmrw.

Guys lets try and keep this thread alive while we wait for krager.
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