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Price Action Trading with Indicators! The Freebie System

  • #8,821
  • Feb 3, 2017 11:26am Feb 3, 2017 11:26am
John:
I forgot to ask... are u basically using all defaults? In particular what are u using for
Target_TakeProfit ??

Can we say that it is only happening on short trades? Or do I see one trade on your chart that shorted ok?
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  • #8,822
  • Feb 3, 2017 11:31am Feb 3, 2017 11:31am
Quoting xmess7
John: I forgot to ask... are u basically using all defaults? In particular what are u using for Target_TakeProfit ?? Can we say that it is only happening on short trades? Or do I see one trade on your chart that shorted ok?
I am wondering if my moving the SL to 100 from 50 had anything to do with it, because you do see a short that did well. The ATR is on and everything else is Default.
  • #8,823
  • Feb 3, 2017 1:14pm Feb 3, 2017 1:14pm
Here is V47 with the other template. With its' first trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Forexware LLC.png Size: 113 KB
  • #8,824
  • Feb 3, 2017 1:34pm Feb 3, 2017 1:34pm
Quoting keysharp
{quote} I am wondering if my moving the SL to 100 from 50 had anything to do with it, because you do see a short that did well. The ATR is on and everything else is Default.

So everything is default except u are using ATR and atr has it's default values, right.

That other template you show, is that with everything default and ATR off ??
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  • #8,825
  • Feb 3, 2017 2:41pm Feb 3, 2017 2:41pm
Quoting keysharp
Here is V47 with the other template. With its' first trade. {image}

John:
I am looking where the code calculates the ATR and how it applies it to the trade as the sl.
I don't see any errors. I manually calculated the sl value using the numbers you show on your Expert tab.

So lets walk thru this:
1. The EA shows entry price of 1.07789, check that is the Bid price at the time of the trade.

2. The EA using the ATR calculates that the sl should by 17 pips above the entry price, sl: 1.07959, Check this is correct. here is the manual calculation
ATR comes out to 17 pips, so the sl is entry price + ATR = 1.07959+0.0017=1.07959, check that matches what the EA used

3. The EA shows a tp of 1.07789. My manual calculation revealed that to be 1.07861, which is 17 pips below the entry price, as should be.
Walking thru the code the EA does the following:
Default target is 1to1.
tp= entry price - stoplossRange, where stoploss range is nothing more than 17 pips.
BUT this is where it fails. For whatever reason when it gets to this point the stoplossRange is no longer 17 AND it seems that the SL is different too, it is now BELOW the entry price. I don't see nothing that can affect that in those lines of code.

I have attached version 48. This version has added debug print statements. I placed two debug prints one before the EA starts to analyze and another just before it opens a trade. I want to see if the sl changes between those two points.

I also downloaded your broker and will be running it as well next week.
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v48.ex4   134 KB | 212 downloads
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  • #8,826
  • Feb 3, 2017 3:17pm Feb 3, 2017 3:17pm
Quoting xmess7
{quote} kdaawwgy: let me know what broker you are using and I will try a demo on next week to see if I get the same results. If you had used the previous EA do u think you would of had more trades?? Anyhow, set ShowDebug=yes. That will print alot of information into the Experts Tab. What it prints is stuff that the EA "sees" and "does" before any trade is taken. We can exactly what the EA is doing as it setups or prepares to find a trade.
I am using CM trading as my demo account and yes when i was trying it out on my cent account it used to take trades three to four times and when it lost it used to cover the losses and try to close on a profit
  • #8,827
  • Feb 3, 2017 3:26pm Feb 3, 2017 3:26pm
Quoting xmess7
{quote} John: I am looking where the code calculates the ATR and how it applies it to the trade as the sl. I don't see any errors. I manually calculated the sl value using the numbers you show on your Expert tab. So lets walk thru this: 1. The EA shows entry price of 1.07789, check that is the Bid price at the time of the trade. 2. The EA using the ATR calculates that the sl should by 17 pips above the entry price, sl: 1.07959, Check this is correct. here is the manual calculation ATR comes out to 17 pips, so the sl is entry price + ATR = 1.07959+0.0017=1.07959,...
Hi there lol i found something that can interest you a lot and it makes huge profit consistently maybe you can replicate it or something that profit was after just three days, found it elsewhere thought maybe you can come up with something
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1 (2).PNG Size: 29 KB
Click to Enlarge Name: 2 (2).PNG Size: 25 KB
Attached File(s)
File Type: ex4 Tekno.ex4   33 KB | 253 downloads
File Type: pdf Manual File.pdf   359 KB | 517 downloads
  • #8,828
  • Feb 3, 2017 3:56pm Feb 3, 2017 3:56pm
Quoting kdaawwgy
{quote} Hi there lol i found something that can interest you a lot and it makes huge profit consistently maybe you can replicate it or something that profit was after just three days, found it elsewhere thought maybe you can come up with something {file} {image} {image} {image}
Thank you. I'll take a look and decide if we can use it.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,829
  • Feb 3, 2017 4:26pm Feb 3, 2017 4:26pm
Quoting kdaawwgy
{quote} Hi there lol i found something that can interest you a lot and it makes huge profit consistently maybe you can replicate it or something that profit was after just three days, found it elsewhere thought maybe you can come up with something {file} {image} {image} {image}
kdaawwgy:
I have read bad reports of this EA and besides it requires $5000 to start.
So no thanks . Once we are done here, I forsee this EA to produce 1% consistent a day. IF u want to risk more than it can be more. But this is my goal.
Simple and with high probability.

Now going back to your problem. You said that under the cent account u saw many trades. Please do the following.
Place the Freebie indicator on both the cent account and the "standard" (I assume that is what u are using) account.
I want to see if the indicator shows the arrows (possible trades) on each account. Please post an image of this.

Next, thing is how much are u starting with?? What are the balances on each account.
IF you don't have enough balance the EA will not initiate a trade. You will see a message in the EXPERTS tab that reads something like this:

"EURUSD 2017.02.02 16:00:00 No trade due to EA not calculating a LotSize. Check if you have enough funds"

Please check that. Otherwise I am going to setup an account on your broker and observe next week what happens.

Thnx'
JEss
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  • #8,830
  • Feb 4, 2017 12:23am Feb 4, 2017 12:23am
Quoting xmess7
{quote} kdaawwgy: I have read bad reports of this EA and besides it requires $5000 to start. So no thanks . Once we are done here, I forsee this EA to produce 1% consistent a day. IF u want to risk more than it can be more. But this is my goal. Simple and with high probability. Now going back to your problem. You said that under the cent account u saw many trades. Please do the following. Place the Freebie indicator on both the cent account and the "standard" (I assume that is what u are using) account. I want to see if the indicator shows...
Ok on monday i will run it on the demo then cent account but i will test with the default settings of it. Ok I just thought that EA was good since i have been testing it
  • #8,831
  • Feb 4, 2017 4:19pm Feb 4, 2017 4:19pm
Folks:
I want to show you what I am working on for the trend movement. I'll try to be as brief as possible. This is a concept that EURUSDD introduces in his similarity thread. It's an observation that supposedly yields a 90-95% probability of price continuing its direction.

Basically the premise is that when a ZZ top or bottom appears that Stoch will either show a 100 or 0. Of course you have to adjust the inputs of each indicator to get this affect. So EURUSDD claims that there is a 90-95% chance that if a ZZ top/bottom forms with Stochastic not hitting 100/0 that price will continue in the direction that it was going away from the last ZZ top/bottom. Consequently this also applies to if zz top/bottom and stoch 100/0 appear at the same time that we are POSSIBLY seeing the turn of a trend. I say possibly cause you don't know but we can then say if price continues with the change of trend that we have indeed changed direction.

Anyhow look at the picture I think you will see what I am referring too.

How do we use this for our purposes?? Well imagine that we use this on the higherTF with the ZZ (which we already use) and the stoch. Then once those conditions happen it is just a matter of waiting for the retrace. How far back??? Well since the Freebie uses FAILED PIVOTS... it will have a better chance of catching those proper retraces. I hope this makes sense. I think this is one of the keys to making this Freebie profitable. The other is MM which we will deal with later once we ensure that the core Freebie is working with NO errors.

Stay tuned... things are going rock!!
Attached Image (click to enlarge)
Click to Enlarge Name: freebie_uppeTrend_95percent.jpg Size: 288 KB
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  • #8,832
  • Feb 4, 2017 9:51pm Feb 4, 2017 9:51pm
Quoting xmess7
{quote} Checkz: The Open Price filter basically looks see if price is above/below the open price at start of the higher Time Frame. If price is above the trend is considered long and vice versa for short. So for example if your higher tf is the week the EA will look to see if current price is above/below the open of this week and then use that value to determine trend direction. I see that you thought it was something else. IF you are interested I can add that logic you indicate. Let me know. I plan to start next week my testing and I am sticking...
I think i'm a little confused because the EA 47 Auto trend does not have an option to choose a higher time frame. If it does I can't find it. Plus I thought the EA was going off the daily open.
Attached Image
  • #8,833
  • Feb 5, 2017 1:18am Feb 5, 2017 1:18am
Quoting Checkz
{quote} I think i'm a little confused because the EA 47 Auto trend does not have an option to choose a higher time frame. If it does I can't find it. Plus I thought the EA was going off the daily open. {image}
Checkz:
The EA has the upperTF hardcoded. It selects the upperTF based on the TF you are using as an entry. So if you decide to use the 15min TF as your entry TF the EA will then pick the D1 as the upper TF. So whatever is selected in AutoTrend is what is used on the upper TF to determine trend direction. If you decide to use a different TF like 4H for your entry signals then the EA will pick the W1 TF and in the same fashion, the EA will use whatever AutoTrend is set on that upper TF.

On that note I cannot find in the earlier posts where Dredding indicates that he was using a TF that was two up from the current. In the 1st few pages I see him use the next TF and in the first original EA he had put together I see that he also is using the next TF. So 15min wound actually use 1H instead of the D1. I wonder how that would change the results.

Let me know what you think or would want to try. For now I say we leave it as is and see what results we get moving forward.
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  • #8,834
  • Feb 5, 2017 10:36am Feb 5, 2017 10:36am
Quoting xmess7
{quote} Checkz: The EA has the upperTF hardcoded. It selects the upperTF based on the TF you are using as an entry. So if you decide to use the 15min TF as your entry TF the EA will then pick the D1 as the upper TF. So whatever is selected in AutoTrend is what is used on the upper TF to determine trend direction. If you decide to use a different TF like 4H for your entry signals then the EA will pick the W1 TF and in the same fashion, the EA will use whatever AutoTrend is set on that upper TF. On that note I cannot find in the earlier posts where...
This is fine I just needed to know which higher time frames went with which lower time frames.
  • #8,835
  • Feb 5, 2017 5:25pm Feb 5, 2017 5:25pm
Ok guys:
I have setup two MT4 demos with default settings on the Freebie EA. These are the brokers that John and Kdaa were using. I want to see if I can get the same errors they saw but also see the EA in action. Only difference is that I have set one broker with a risk of 3% and on the other a risk of 1%.

Lets see how this plays out
JEss
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  • #8,836
  • Feb 6, 2017 12:03am Feb 6, 2017 12:03am
First Blood!!! LOL

I just checked and I have already had one long trade for profit and have a second that is open.
Since I set the daily percent to 2%, if this trade hits profit the EA will stop for the day and start again tommorrow.
Under live account I would close it right now, but I am letting play. This will test to see if the zigzag trend us correct, too.

John, this trade was made on the broker u are testing, forexware.

No trade as of yet on CMTrading, Kadaa.

EDIT: Actualy there were already two trades, that have closed in profit. You can see the green arrows on the image. Hmmm that means that the profit was less than 1% on each. I will need to check that to make sure that the correct profit is recorded. Cause it can be critical if you are just short of your target and not have the EA stop. So if this third open trade hits profit it will for sure make the total go over 2% and stop the EA.
Attached Image (click to enlarge)
Click to Enlarge Name: Freebie_v48_1st_trade.jpg Size: 231 KB
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  • #8,837
  • Feb 6, 2017 12:24am Feb 6, 2017 12:24am
Upgrade version 49
Folks:
Since I am close to closing with daily profit target of 2% I took a quick look to make sure the code was correct. Well it wasn't LOL.
Not a real issue in the sense that it just would not of stopped the EA. So modified the code and now the EA should obey the inputs that you
place as your daily profit targets.

As usual all required indicators and EAs are at:
http://xm7.info/ea/freebie (I upgraded the site so now you can read all the the files clearly, before it would truncate the names)
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v49.ex4   138 KB | 193 downloads
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  • #8,838
  • Feb 6, 2017 12:43am Feb 6, 2017 12:43am
John and maybe Kdaa:
I found an error that did not allow my GBPJPY trade to open. Error 154 "modification not allowed, trade to close to market open".
When this type of error happens, the trade is not allowed to be executed. So Kdaa perhaps that may one reason u are not seeing any trades, maybe when u changed account types now this error appears.

Look at the image you can clearly see where the trade would of happen.
Now my confusion is this, how can my TP or SL be close to market open??? They are clearly 30 pips away!! Bummer, for these types of brokers I will need to enter logic into the code to handle it.

I almost feel like not putting in any stops or takesprofit and just use $ to get out of the trade. I know it is risk but all of this is risk. Besides I know of many others that just use $ as stops instead of actual stops and they have survived.

Ok I will continue looking into this and add some code to work around this later. So far I think I will have a success profit day

Jess
Attached Image (click to enlarge)
Click to Enlarge Name: Freebie_v48_forexwsie_error_145.jpg Size: 226 KB
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  • #8,839
  • Feb 6, 2017 1:01am Feb 6, 2017 1:01am
Jess,

Several questions. I have loaded the EA v48 on EURJPY H1 earlier..... Now I switched to the v49 you uploaded everything is default except for the Daily profits set to 2% and Weekly profits set to 10%.

1. What are the recommended pairs for testing now?
2. I take it that the Indicators and EA has to be loaded on each pair chart?
3. If the EA is loaded on each pair chart, do we give the EA a different Magic Number?
4. If we don't give a different Magic Number will the EAs all treat the entered trades as a basket for the Daily profits of 2%.
5. Just wondering how the EA will view the Daily percent on the Trades with the same Magic number but on different pairs.

Thanks

Bruce
  • #8,840
  • Feb 6, 2017 3:11am Feb 6, 2017 3:11am
Quoting brucech
Jess, Several questions. I have loaded the EA v48 on EURJPY H1 earlier..... Now I switched to the v49 you uploaded everything is default except for the Daily profits set to 2% and Weekly profits set to 10%. 1. What are the recommended pairs for testing now? 2. I take it that the Indicators and EA has to be loaded on each pair chart? 3. If the EA is loaded on each pair chart, do we give the EA a different Magic Number? 4. If we don't give a different Magic Number will the EAs all treat the entered trades as a basket for the Daily profits of 2%. 5....
Good questions:

1. Pick any pairs you feel comfy with. I am using EURUSD, GBPUSD, GBPAUD, GBPJPY. I know these pairs and have used them alot.

2. The indicator is not required. The indicators is for your EYES so you can see where the possible signals are supposed to happen. IT helps to check that the EA matches that. Plus the indicator can give u look back so u can see how the code would of generated signals in the previous days.

3,4,5. As far as the EA and magic number thing. I just looked at the code and noticed that the close all function it doesn't take into account the magic number. In version 50 I will fix that. But once that is fixed you will need to keep the number the same on each pair you use the EA. That way it will close it as a basket.
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