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A Little Breakout Here and There

  • #61
  • Oct 17, 2016 5:41am Oct 17, 2016 5:41am
There are clearly numerous methods that can be applied to HPs main theme, and all most probably have their merits.

In my case, I have chosen to play "retracement breaks", which is similar but not exactly the same as the methods shown in this thread.

All the ideas are great, but I think each person should specialise their chosen technique personally, and fully understand it to avoid being derailed by all the alternatives available, otherwise you'll be forever hopping around without actually developing a system, settle into it, and effectively trade it.

For instance, my version suits me, but I know that one size does not fit all, so I'd advise adopting the main theme as per HP, choose the way that looks easiest for you, and adjust it to suit your own taste, which is exactly what I have done.

I'll post a chart or two during the week, but I emphasise, my take does not need to be the same as anybody elses, so long as I fully understand my own rules is all that matters, and the same should really apply to all traders imo.

LL
  • #62
  • Oct 17, 2016 6:35am Oct 17, 2016 6:35am
Quoting Landline
There are clearly numerous methods that can be applied to HPs main theme, and all most probably have their merits. In my case, I have chosen to play "retracement breaks", which is similar but not exactly the same as the methods shown in this thread. All the ideas are great, but I think each person should specialise their chosen technique personally, and fully understand it to avoid being derailed by all the alternatives available, otherwise you'll be forever hopping around without actually developing a system, settle into it, and effectively trade...
Absolutely agree, Landline. Even this one I'm looking at is close to one I already trade on the daily tf, Daily Colour Change.

The reason I went with the variant I have here, is that not only is it one I have looked at before called ''Three Wise Men'' but more importantly that it is the one HP himself introduced via the PDF ''10 Pips Anytime You Want'', so I figured it had the official thumbs up.

I will post these last two charts (GBPNZD) as I have done the work - for what it is - and perhaps HP could give a yay or a nay to continuing. I do not wish in any way to hijack his thread and will start a separate one if that's best.

As for the GBPNZD below, it's two charts overlapped to give a bit of extra detail once I'd come across the interesting new stuff.

That interesting new stuff comes up in a number of points:

1: I reckon entry on the trigger candle open is the way to go.
2: There are occasions when you will get overlapping boxes.
3: There is a weird ''double-signal'' that rears its head - a diamond pattern - which has a smaller/bigger/smaller configuration. You will see that where the trigger candle has an entry both long and short.
4: Certain pairs will work way better than others.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDDailythreewisemen1.png Size: 31 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDDailythreewisemen2.png Size: 34 KB


Anyway, over to HP for the final word.
  • #63
  • Oct 17, 2016 7:19am Oct 17, 2016 7:19am
Quoting lemercenaire
{quote} I do not wish in any way to hijack his thread and will start a separate one if that's best. As for the GBPNZD below, it's two charts overlapped to give a bit of extra detail once I'd come across the interesting new stuff. That interesting new stuff comes up in a number of points: 1: I reckon entry on the trigger candle open is the way to go. 2: There are occasions when you will get overlapping boxes. 3: There is a weird ''double-signal'' that rears its head - a diamond pattern - which has a smaller/bigger/smaller configuration. You will...
no problem at all! , ultimately what I'd like from this thread is an EA that could be left alone, mining away....so if there is a variation that is consistently profitable then all good. I've done a bit of manual backtesting on GJ 1 hour, seems to be around 1 setup each day on average.

Lemercenaire, sure this is nothing new really. Have done some searches for 3bar reversal and have found similar things but at the moment can't find one indicator that I can use to test out my latest variation of bullish bearish bearish or bearish bullish bullish.... Saw one indicator that applied it to the close and not the highs/lows...

Poruchik, thanks for the link, another interesting concept!

Landline, glad it's working out!
  • #64
  • Oct 17, 2016 7:30am Oct 17, 2016 7:30am
Quoting HarryPlopper
The basic rules are as follows: Longs: If the current bar's close is higher than the highs of the previous 2 bars, then enter at a break of this bar. Shorts: If the current bar's close is lower than the lows of the previous 2 bars, then enter at a break of this bar. If the trade isn't executed on the very next bar, then it is cancelled.
This code follows the entry conditions above


if( Close[i] < Low[i+3] && Close[i] < Low[i+2] && Close[i] < Low[i+1])

{

Dn_Arrow[i-1]=High[i-1]+5*Point;

}


if(Close[i]> High[i+3] && Close[i]> High[i+2] && Close[i]> High[i+1])
{

Up_Arrow[i-1]=Low[i-1]-5*Point;
}
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #65
  • Oct 17, 2016 9:32am Oct 17, 2016 9:32am
thanks TooSlow, unfortunately I have no idea how to use raw code. I imagine it's a bit more complicated than copying and pasting into the MQL Editor
  • #66
  • Oct 17, 2016 9:57am Oct 17, 2016 9:57am
Quoting HarryPlopper
{quote} no problem at all! , ultimately what I'd like from this thread is an EA that could be left alone, mining away....so if there is a variation that is consistently profitable then all good. I've done a bit of manual backtesting on GJ 1 hour, seems to be around 1 setup each day on average. Lemercenaire, sure this is nothing new really. Have done some searches for 3bar reversal and have found similar things but at the moment can't find one indicator that I can use to test out my latest variation of bullish bearish bearish or bearish bullish bullish.......
That's very generous of you, HP, thanks. With your ok then, I'll continue on (for now at least ).

Here's EURCAD, which at initial viewing seems well suited. There was a manic period in the middle of August but nothing one couldn't manage.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDailythreewisemen.png Size: 48 KB
  • #67
  • Oct 17, 2016 10:13am Oct 17, 2016 10:13am
Quoting HarryPlopper
thanks TooSlow, unfortunately I have no idea how to use raw code. I imagine it's a bit more complicated than copying and pasting into the MQL Editor
You are now immortalized.
Attached File(s)
File Type: mq4 HarryPlopper.mq4   3 KB | 722 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #68
  • Oct 17, 2016 10:20am Oct 17, 2016 10:20am
GBPCAD

Gets a bit weird at the end there - however you would have been short leading into that spike, so how you'd have played the next trade which came after a gapped weekend, is open to discussion and whether you would have taken any of the following trades which came inside that huge bar, ditto.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADDailythreewisemen.png Size: 38 KB
  • #69
  • Oct 17, 2016 10:47am Oct 17, 2016 10:47am
GBPCAD Missed a short on that last section...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADDailythreewisemencwmissedtrade.png Size: 29 KB
  • #70
  • Oct 17, 2016 10:57am Oct 17, 2016 10:57am
Quoting TooSlow
{quote} You are now immortalized. {file}

ahh thanks! just tried it out, unfortunately it's putting arrows randomly on the chart
  • #71
  • Edited 3:18pm Oct 17, 2016 12:19pm | Edited 3:18pm
EMA144

increase the number of bar
Attached Image (click to enlarge)
Click to Enlarge Name: bitmap.png Size: 38 KB
Attached File(s)
File Type: ex4 Basic Arrow Signal & filtr.ex4   12 KB | 347 downloads
File Type: mq4 Slope Direction Line.mq4   4 KB | 360 downloads
  • #72
  • Oct 17, 2016 6:31pm Oct 17, 2016 6:31pm
USDCAD Seems like a good fit...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDailythreewisemen18thoct.png Size: 62 KB
  • #73
  • Oct 17, 2016 6:54pm Oct 17, 2016 6:54pm
OK then...EURCAD has a set-up coming for tomorrow. Long on open of next bar.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDailythreewisemensettingupfor18thoct.png Size: 44 KB
  • #74
  • Oct 17, 2016 7:06pm Oct 17, 2016 7:06pm
Quoting HarryPlopper
{quote} ahh thanks! just tried it out, unfortunately it's putting arrows randomly on the chart
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 30 KB


Follows the logic you provided.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #75
  • Oct 17, 2016 8:32pm Oct 17, 2016 8:32pm
Quoting mbolton
Hi Harry, I've been looking to make an EA for this and initially it wasn't looking particularly positive. I've now added an option to use EMA so that we only trade with the general trend and it's looking more positive. So far I've tested on the 4hr against USDCAD and EURGBP and results are potentially promising. Now I could do with some input from others as to whether they feel it could be worthwhile and if there's anything we could add to it. Anyway, see what you think, Mark. {file}

Hi mbolton, how is your EA working out? still trying it? I am still interested in the original concept I presented in this thread as well as the new swing breakout variation. I'm wondering if a time filter would enhance your EA (note I haven't used it so not sure what parameters exist). Perhaps being able to choose market hours to let the EA run and stop could be a good filter to try capture any trends occurring at London/New York open.
  • #76
  • Oct 17, 2016 8:42pm Oct 17, 2016 8:42pm
Quoting TooSlow
{quote} {image} Follows the logic you provided.

I'm more after what's in the pics.

longs: bearish, bullish (with lowest low of 3 bars, high can be higher or lower than high of 1st bar) followed by a bullish bar whose close is higher than the last 2 highs.

or for shorts, bullish, bearish (highest high of 3 bars, with low being higher or lower than low of 1st bar) followed by a bearish bar whose close is lower than the last 2 lows.
Attached Images
  • #77
  • Oct 17, 2016 9:14pm Oct 17, 2016 9:14pm
EUR/USD 4hour has many setups occurring.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4 hour swing break example.JPG Size: 68 KB
  • #78
  • Oct 17, 2016 9:30pm Oct 17, 2016 9:30pm
Quoting HarryPlopper
{quote} I'm more after what's in the pics. longs: bearish, bullish (with lowest low of 3 bars, high can be higher or lower than high of 1st bar) followed by a bullish bar whose close is higher than the last 2 highs. or for shorts, bullish, bearish (highest high of 3 bars, with low being higher or lower than low of 1st bar) followed by a bearish bar whose close is lower than the last 2 lows. {image} {image} {image} {image}
Not the logic in post #1.
You have different logic now.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #79
  • Oct 17, 2016 9:47pm Oct 17, 2016 9:47pm
Quoting HarryPlopper
{quote} I'm more after what's in the pics. longs: bearish, bullish (with lowest low of 3 bars, high can be higher or lower than high of 1st bar) followed by a bullish bar whose close is higher than the last 2 highs. or for shorts, bullish, bearish (highest high of 3 bars, with low being higher or lower than low of 1st bar) followed by a bearish bar whose close is lower than the last 2 lows. {image} {image} {image} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 31 KB


if(
Close[i+3]>Open[i+3] &&
Close[i+2]<Open[i+2] &&
High[i+2]>High[i+3] &&
Close[i+1]<Low[i+3] &&
Close[i+1]<Low[i+2] &&
Close[i]<Low[i+1]
)
{
Dn_Arrow[i]=High[i]+5*Point;
}
if(
Close[i+3]<Open[i+3] &&
Close[i+2]>Open[i+2] &&
Low[i+2]<Low[i+3] &&
Close[i+1]>High[i+3] &&
Close[i+1]>High[i+2] &&
Close[i]>High[i+1]
)
{
Up_Arrow[i]=Low[i]-5*Point;
}
Attached File(s)
File Type: mq4 HarryPlopper.mq4   3 KB | 1,029 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #80
  • Oct 17, 2016 9:53pm Oct 17, 2016 9:53pm
Quoting TooSlow
{quote} Not the logic in post #1. You have different logic now.

Oops, I see where I stuffed up. Thanks for coding for the intital strategy! Riht now I'm specifically after an indicator for a variation of this breakout.
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