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Yen Trader

No problem I understand
It's just to give permanently the situation of each pair compared to USDJPY.
​I agree with madscalp,any coders out there willing to take the job on please? :-)
Currently forward testing eurusd + usdjpy --> eurjpy on ecn demo account.
No positions were opened the last 4 hours (since I started it). Trends were at least once in favor of EA.
Anyone experiencing the same? Interesting strategy!
​I got the same results ,piphunter7, looks like a good strategy to me ! :]
Quoting piphunter7
Currently forward testing eurusd + usdjpy --> eurjpy on ecn demo account. No positions were opened the last 4 hours (since I started it). Trends were at least once in favor of EA. Anyone experiencing the same? Interesting strategy!
do you have the 'loop back bars' set to 2?
These are the trades taken by the EA since yesterday on EURJPY using H1 time frame for direction and running on M5 for Entry, with settings in Post # 10.

Attached Image (click to enlarge)
Click to Enlarge Name: YT2_EJ_H1_M5.png Size: 44 KB
No guts, no glory
This is an updated version (3) with fixed bugs posted by Soros (although the bug does not affect the results as it was modifying the stop with the same values).
Also I added description to inputs.

Attached File(s)
File Type: ex4 Yen_Trader_03.ex4   18 KB | 874 downloads
No guts, no glory
Note that the EA is still using a very simple (naive) method of identifying major pair and UJ pair directions.
Many other options can be tested :

  1. Indicator based : RSI, CCI, HA , MA ... etc.
  2. Higher Time Frames.


I noticed through backtesting that the less number of loop back bars the better the results. This makes sense as usually USDJPY and XXXUSD are inversely correlated. So we are basically trading the divergence in this negative correlation which is translated to a short term trend in XXXJPY.

No guts, no glory
abokwaik thanks for posting the bugfixed version. can i ask if you have settled on any particular times / session yet?

blam
Quoting abokwaik
These are the trades taken by the EA since yesterday on EURJPY using H1 time frame for direction and running on M5 for Entry, with settings in Post # 10. {image}
got the same results... i am trying on GJ and NJ too. will update if we have something promising.. thanks a ton Khalil..
Hi abokwait
Could you explain why you use M5 for the EA ?
Quoting abokwaik
Note that the EA is still using a very simple (naive) method of identifying major pair and UJ pair directions. Many other options can be tested : Indicator based : RSI, CCI, HA , MA ... etc. Higher Time Frames. I noticed through backtesting that the less number of loop back bars the better the results. This makes sense as usually USDJPY and XXXUSD are inversely correlated. So we are basically trading the divergence in this negative correlation which is translated to a short term trend in XXXJPY.
wrote you a pm
just do it
Quoting madscalp
Hi abokwait Could you explain why you use M5 for the EA ?
Good Question : You mean why I am setting the EA to trade H1 time frame but attach it to M5.

Well, initially it was by mistake, but then I thought it could be good to have a higher Signal TF and a lower Entry TF, where we spread the position intended for the higher TF into multiple smaller trades on the lower time frame (in case you set Max Orders > 1).

However, it is not optimized yet. I mean for example with H1/M5 combination it will enter a new trade every 5 miniutes within the current H1.
Ways to optimize the lower TF entry include:

  1. Additional Entries only if price is moving in our direction (pyramiding)
  2. Additional Entries only if price is moving against our direction (averaging)
  3. In the H1/M5 example, re-check the Signal every 5 Minutes, the signal in this case will be on the last 12 M5 bars instead of the last H1 bar, (i.e. sort of dynamic signal re-checking).

No guts, no glory
​@abokwaik,whats the best xxxJPY pair to trade with?
Quoting nozzer
​@abokwaik,whats the best xxxJPY pair to trade with?
GBP JPY
No guts, no glory
This is a really nice EA - i like the idea.

one thing i would test is to restrict the max. distance in pips to the daily trend EMA, an overshot is usually rejected fast.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: yen.jpg Size: 646 KB
Click to Enlarge Name: yen2.jpg Size: 604 KB
just do it
This is a very interesting strategy.

But I am wondering where shall we put our SL after BUY/SELL?

Is it at the price 24 periods ago?

Or just put SL at last swing high/low.
Quoting b_ballerz2k
This is a very interesting strategy. But I am wondering where shall we put our SL after BUY/SELL? Is it at the price 24 periods ago? Or just put SL at last swing high/low.
The initial idea was to not use a stop loss or take profit, and close the position when signal pairs are out of sync.
However I found it better to have a stop loss and a trailing stop, and allow for trades to open in both directions when signaled, while running trades can be closed at SL or trailing, as long as SL/Trailing are relatively far enough based on the time frame used.

Having the initial SL at swing high/low is not a bad idea as long as it is far enough to allow for price noise. Also sops can be trailed by last high/low.
No guts, no glory
Quoting thodie
This is a really nice EA - i like the idea. one thing i would test is to restrict the max. distance in pips to the daily trend EMA, an overshot is usually rejected fast. {image} {image}
Yes thodie, Adding a filter on the traded pair should be tested, using standard deviation maybe.
No guts, no glory
Let us think for a while : Why JPY crosses trend in a specific direction ? why they range for a while? and when do they reverse ?

This is the key to the Yen Trader system!
No guts, no glory
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