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Simple Breakout System By Zach

Quoting damiend
(the breakout candle must be closed before the trade will be opened) {file}
Damiend, thank you for the EA. Could you put an option to enter the trade at the breakout, without waiting for the candle to close? I would like to test both ways.
Quoting kalawe
{quote} ok thank you.. i was backtested: can you tell me why not all BO is not OP by EA ? asian setting & slippage was changed to higher number also but the same result. {image}
yes on back test - no trades are opened ????
will see if trades are opened tomorrow on my demo account
Fib(onacci) my way to glory
@Damien,

I would suggest (only for testing) to setup a Martingale feature whoch can be turned on and off. Perhaps with a Martingale-Factor?

Before everybody screams...I know that Martingale Strategies are very BAD...Nevertheless my backtest showed that maximum 4 trades were unsuccessful. This could be a nice feature...

Thank you in advance

Marc
Quoting billsmith
{quote} yes on back test - no trades are opened ???? will see if trades are opened tomorrow on my demo account
i said Not all.
Some is OP.
Quoting MarcS83
{quote} Both sided
Thanks
Quoting kalawe
{quote} i said Not all. Some is OP.
ok when i ran my back test no trades were opened....
not sure what i did wrong
Fib(onacci) my way to glory
For better result not only we must consider BOX breakout but also we must consider previews weekly candle closing. it is too important
Quoting yohec
{quote} Damiend, thank you for the EA. Could you put an option to enter the trade at the breakout, without waiting for the candle to close? I would like to test both ways.
Yes it's possible. I will add this option in the next release
Hi,

You might want to check on this: the EA shows the proper time 'box', no problem. The problem is that in figuring out the Fib ratios, its taken into consideration a low in price prior to the correct time period.

Am I doing something wrong or is the program looking too far back in data to calculate the 1.618 and .5 ratios?

Thanks for looking into this.
I combine zach's box breakout strategy with last weekly candle closing for diagnosing main resistance and support in week
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Quoting billsmith
{quote} yes on back test - no trades are opened ???? will see if trades are opened tomorrow on my demo account
Hm strange, it's opening trades in my backtests.
Could you check if you have an error message in your strategy tester's "Journal" tab ? Is it with default settings?

Also ensure to have these settings:

  1. TradingEnabled = True
  2. AsianSessionPipsMax = very high value to be sure the max pips is not reached

please look at false breakouts
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Quoting damiend
{quote} Hm strange, it's opening trades in my backtests. Could you check if you have an error message in your strategy tester's "Journal" tab ? Is it with default settings? Also ensure to have these settings: TradingEnabled = True AsianSessionPipsMax = very high value to be sure the max pips is not reached
i'll check
also what about adding TP2 at 261.8....
Fib(onacci) my way to glory
Quoting MarcS83
@Damien, I would suggest (only for testing) to setup a Martingale feature whoch can be turned on and off. Perhaps with a Martingale-Factor? Before everybody screams...I know that Martingale Strategies are very BAD...Nevertheless my backtest showed that maximum 4 trades were unsuccessful. This could be a nice feature... Thank you in advance Marc
Good idea Marc, but I would prefer to ensure we have a stable EA that opens 1 order at a time before implementing such a feature. I keep this in mind for a future version though.
Quoting billsmith
{quote} i'll check also what about adding TP2 at 261.8....
Ok, yes the TP2 + move to breakeven is in my plans already, thanks
Quoting wiseguytrade
Hi, You might want to check on this: the EA shows the proper time 'box', no problem. The problem is that in figuring out the Fib ratios, its taken into consideration a low in price prior to the correct time period. Am I doing something wrong or is the program looking too far back in data to calculate the 1.618 and .5 ratios? Thanks for looking into this.
Strange, could you post your EA settings?
Here you go, Damien.

The key is that for some reason the Fib Proj's are not being based on the 'Box', it's pulling in some prior time to figure the 1.618 and .5 calcs. Here is a snapshot of both the chart and my settings. Hope it helps.
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Quoting wiseguytrade
Hi, You might want to check on this: the EA shows the proper time 'box', no problem. The problem is that in figuring out the Fib ratios, its taken into consideration a low in price prior to the correct time period. Am I doing something wrong or is the program looking too far back in data to calculate the 1.618 and .5 ratios? Thanks for looking into this.

you are right.



@Damiend your EA Fibo Hi-Low is wrong.

Hi-low fibo is take only from candle in the box.
Please look this picture fibo line:

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Thanks for your explanations and screenshots guys. I will look into it asap
watching this pairs for today.
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