Price Action Trading with Indicators! The Freebie System

Sounds great. What higher time frame were you looking at for the 15 minute. I think the mtf HA meter used the 4 hr as higher timeframe for the 15 minute.
Also what is the risk reward that you are using?

Checkz:
I am sticking to the original rule of 2 higher TFs. So in the screenshot I am running Freebie original on the 15m TF
with the ZigZag on the D1 TF.

As far as risk/reward I am not looking at that yet. This won't be looked at until I get the process working properly.

When I do get to that point, instead of risk/reward I am going to concentrate on determining the best stop limit and take profit that will produce a consistent
profitable EA. I am going to take as much data from those moments when the EA gets into big trouble and from that calculate
the appropriate stop and take limits. In addition the EA will be able to recognize the drawdown situation and determine how to get out
of a big drawdown with the lowest loss or at break even.

XMESS,

wouldn't 2 hight TF's from the M15, be the H4?

XMESS

been trying out the EA so far it makes profit, but it loses trades lol i know its normal but 2:1 ratio is it normal?
2win and 1 loss ?
i wanted to ask which TF works best with it?
hope i am not asking annoying stuff

Yer right i meant 3 tf

If u r getting 2:1 ratio do not change anything and send me yer set file plus tell me what tf and pair(s) u r using and how long u keep the EA on the charts . i want to forward test it and see how yer setup does in big drawdown/news moments. That is the key. Control the bad time and u will have a profitable EA.

so to answer yer question. First we need to analyze in which tf it is less suseptible to a major drawdown when news or something happens. In order to do this u need to collect as much data as u can. Preferable forward testing data and i f u can get a couple of months. sure we can use historical data but only for starting purposes. The spread does not vary in the tester and that will lead to data that is not realistic. Once u have the averages then u calculate the probabilies . with the averages and probability numbers u can then see which tf, how much stop or take, when are the optimal times for the ea to run etc,etc etc. With the adjustments u then continue forward testing. You will then look to ensure that the ea continues to be proftiable each day. So in that context win ratio will not matter. What really matters is %/day. For example i have an ea that produces 2% a day. I then know that if i ever get in trouble and end up closing in day for a 10% loss that it will take me 10 -12 days to recover. I also know that the probability of having that losing day is about 1-2 times per 6 months. So if i have, say 1 month of 2% days then i end up with about a 40% gain. So when and if the loss happens that 1 time i know two things.
1. I lose 10% but i am still up (about 27%)
2. i know that in about 10 days i will be back to 40.
True you could have that loss at the beginning, so then in that case u can start with 70% of what u originally want to trade with.

Ok enuf , I hope u can see more or less how any EA can be made virtualy riskLess.

Peace

XMESS

Do you want me to send a screenshot of the properties i use on the robot or which?
been on the charts since friday. I was using H1 for GBPUSD,EURUSD,USDJPY,AUDUSD and EURCHF

Send me the set file. It's located in the folder MQL4/Presets. The name will be whatever you saved as with extension ".set". If you have problems sending it just rename it to end with ".txt".

Funny the pair u use are almost like what I use for long term trading:
EURUSD, AUDUSD, GBPUSD, EURAUD.

The new Freebie EA will simpler so I expect it to perform a lot better than the current version. If you look at the posts I made back in Dec 2015- Jan 2016 you will see that the Freebie EA was profitable. I intend to go back to that version and upgrade it with better logic. About the only "new" things that it will have are the ZigZag as the upper TF filter and it will have the choice of using the 3C version. So there will only be one EA instead of two like it is now.

Thnx
Jess

XMESS7

I just tried doing it now i think i was successful. So the older versions were a bit better than this one ?
I changed to 15min

That is what I am going to find out. You see the moment i went live it started to lose and alot. Since then we have tried over at least 7 variations of upper trend filters and other slight modes and additions. The core rules have not change other than removing some for the 3C version. So the trick would be to go back to the simple settings. I also reread Dreddings instructions and decided to use the zigzag on the upper tf as a trend filter,

You do not have to change tf, especially if u are getting 2:1 win ratio, just continue and see if u can be consistent thru the whole week.

Jess

Oh lol I am still testing it in the demo havent switched to anything else, The other thing that makes me get some of the trades correct is that i close them manually cause sometimes it goes to TP then down to SL so i was also thinking probably my broker hunts SL
But overall this is a good EA hope you can get the bugs fixed
Do you use telegram?

Xmess is there a way to move the stop to breakeven for example on a Sell trade when Price is in Profit and another semafor on top appears. If you look at the pic I posted you will see that there are 4 red semafors:
1st semafor on top and red HA candle closed placing a sell trade
2nd semafor on top but price was Not in Profit so the stop stayed above the 1st semafor
3rd semafor on top but Price was Not in Profit so the stop stayed above the 1st semafor
4th semafor on top appears and PRICE IS IN PROFIT EA moves stop to breakeven
Eur/Usd 15 minute chart
I just thought it would be a good option instead of trying to set breakeven by pips or percentage.
If it's possible you can just add it to EA_v44 it's my favorite so far.

Done, just set Select_BE_Type=setBE_onSema and BE_Lock=x pips

Hello, i have just recently started following this thread and i very much enjoy your work, could you please give me the EA(V44) and necessary indicators and a brief description of how to install it please? Thanks in anticipation

Thanks

Can you send use the inputs please

U mean a description of the inputs?
Go to this site: http://xm7.info/ea/freebie/ (Note I have not updated the inputs.txt file with the info of the latest one I added.
There you will find all the required indicators and EAs that have been created.
Also Note that the EA will tell u if u are missing any files. It will tell you which ones and where to get them as well as where to install them,

At the moment I am concentrating on the Freebie original (not Freebie3C nor Boloso). I am almost done.
The next version of the Freebie EA will have both the original and 3C capabilities in it. As far as boloso I am not going to develop anything on it at the moment.
What is the difference between the original and 3C??
The originally obviously follows the rules on page 1 and also the original ideas of the author contained in pages 1-8.
The 3C version is essentially the same as the original except that we don't consider stochs nor HA candles. Also 3C tends to yield less signals cause it's a little more stringent.

So once again let me explain what I Am doing. I am re-writing the Freebie EA so that it will somewhat faster and also MORE exact. I am also going back to version 8 which was one of the first versions where I was making good profit. Look at this post:

http://www.forexfactory.com/showthre...60#post8669060

From that post on you will see that the EA was making great profit. I mean I was banking 300-600 pips in a couple of weeks. What happened? Well when I went live for unknown reasons it stopped working. So I continued making more version using ideas from the users. But as you can tell, we are still in the same situation.
This past December I took a break from coding. . I had a ball and was REAL relaxed etc etc. Anyhow, I got the idea of simply going BACK to the early version which was making profit and to study why it was profitable. Another thing that had my attention was that Dredding always stressed that you need to LOOK at the TREND. He would constantly tell people to USE THEIR EYES to SEE the TREND. So I was using my EyES and thinking how can I code this? Then the ZigZag came to mind. So I slap the ZigZag and voila, I found that this when coded properly can be somewhat close to tell your EYES the trend. Now, I know the zig can zag and making misinterpret price direction so I made some adjustments to the zigzag code. Once I am done cleaning up the Freebie EA and placing back to sort of the version 8 status I will then use the modified ZigZag and see how it works out. So that coupled with the analysis of HOW MANY times does it go against you, HOW MANY PIPS it goes positive before it may retrace, what times are possible the best etc etc etc, will provide data that I can program inthe EA. The EA will then be able to cope with it and make any need adjustments so we can minimize the loss, it any. The winning part is easy, it's the losing part that you have to study and make a plan to get out of. This is what no one talks about. And if they do it's very minimal.

Ok guys keep using these versions and just report what you find. EVEN IF IT FAILS take notes of how many times, how many pips, what time of day if possible and anything you can see. Cause if u can control that then you will never lose again. Never lose all of it that is.

Peace

Hello, you can throw your system,D1 timeframe

Do you mean if we can run it on the D1 TF? Please let me know. Thank you

UPDATE is READY.

Folks:
The Latest update is ready. This version is alot faster than any of the previous ones and it can handle up to W1 TF.
I've also made some changes to some of the required indicators. I recommend you download them all again.
As usual I have placed all the files on my server and can be accessed any time.
http://xm7.info/ea/freebie/
This time u will see the latest EA/Indicator and a folder called "required indicators". I also included a PDF that explains the inputs.

Please test. I did as much as I could but if there are any bugs we will see them as the EA or indicator operates. Make sure to set ShowDebug=Yes. This
REALLY helps when trying to find out what is wrong. You can then send me the Experts LOG, which will contain all kinds of information of what the EA is doing.

You can now also select the original or 3C version with this update.
This version still has some of the other approaches we have added but I am going to stick to using either the ZigZag or 20sma as the upper TF trend filter. the 20sma was what I was using back when I had the good run. This update can now detect candle patterns and I have made the pivot failures according to some of the variations that Dredding indicated.

Based on what I saw I think this is it. I don't see any more major changes for this EA. Like I said this version is faster and also handles alot of the functions with more precision. I expect that the indicator signals will match the EA trades this time .

I will start testing this EA and keep you posted on the progress.

Take care and lets make this happen
Jess

EDIT: I added a template file. It only loads the Freebie indicator along with the core indicators. This will allow you to see more history of the performance of the freebie appraoch. You can then set or change inputs to see how the approach works. Keep in mind that the 3sema and ZigZag do repaint. So some of the signals may be earlier than what you see. The core indicators show the 3sema, pivots, stochastics as Dredding points out in pg1.
You will also see signal arrows. If you have the EA running on the same chart, the arrows should
line up with the trades.