How many people here use price action instead of indicators in their EAs?

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How many people here use price action instead of indicators in their EAs? How successful have you been so far?

 
Define price action.
 
comparing 1 price bar to the next eg the 123 system by Mark Crisp.
 

Price action better as a trigger than just indicators for most market phases

IMHO, indicator-only triggers need a minimum 'deliberateness' to succeed

-BB-

 
mbirrell:

How many people here use price action instead of indicators in their EAs? How successful have you been so far?

I don't use Technical Indicators, I have been as successful as I would have been had I used technical Indicators. . . in other words, not successful so far.
 
mbirrell:
comparing 1 price bar to the next eg the 123 system by Mark Crisp.

Yes, Trend Following. This is, i would say, one of the most genuine thing in this world. There are many variations, like the one from mark crisp, turtle trading, the 12 rules system, etc.

Unfortunately, most of the members are still manually trading their pips away.....

 
I have found that "profiling" a time frame over one week and and looking for those patterns in the next days worth of trading works well. I can say that I have come out ahead every day so far - yes I take losses but they are outweighed by the profit. two steps forward, one step back.
 

google "123 system by Mark Crisp" -> http://www.stressfreetrading.com/123system.pdf

Is exactly what it is about. Buy when the price is low and sell when the price is high. How to estimate the pricelevel? Keep it simple and compare it to the previous one or tell me another way to do it. Every indicator is doing that more or less, because for every indicator price is the basis to calculate it.

 
APeng:

google "123 system by Mark Crisp" -> http://www.stressfreetrading.com/123system.pdf

Is exactly what it is about. Buy when the price is low and sell when the price is high. How to estimate the pricelevel? Keep it simple and compare it to the previous one or tell me another way to do it. Every indicator is doing that more or less, because for every indicator price is the basis to calculate it.

You are quite right - the basis of most indicators are not really price but an averaging of price or the main bodies of any of its 4 prices w.r.t some past intervals

 

Here is my results:

Strategy Tester Report
The Chartist - Price ActionAS - H1 Prd
GoMarkets-Real 1 (Build 407)

Symbol AUDUSD (Australian Dollar vs US Dollar)
Period 1 Hour (H1) 2011.10.03 00:00 - 2011.10.24 21:00 (2011.10.03 - 2011.10.25)
Model Every tick (the most precise method based on all available least timeframes)
Parameters Common="Common Variables Start"; OrdComment=""; StartLotSize=0.2; StartBallance=5000; aa=0; ba=0; ca=0; fa=0; ga=0; ha=0; ka=0; la=0; ma=0; pa=0; qa=0; ra=0; ua=0; va=0; wa=0; za=0; ab=0; bb=0; eb=0; fb=0; gb=0; jb=0; kb=0; lb=0; ob=0; pb=0; qb=0; tb=0; ub=0; vb=0; yb=0; zb=0; ac=0; dc=0; ec=0; fc=0;

Bars in test 1379 Ticks modelled 914386 Modelling quality 90.00%
Mismatched charts errors 0




Initial deposit 10000.00



Total net profit 6588.45 Gross profit 12549.84 Gross loss -5961.39
Profit factor 2.11 Expected payoff 27.34

Absolute drawdown 151.00 Maximal drawdown 715.76 (4.53%) Relative drawdown 4.73% (708.84)

Total trades 241 Short positions (won %) 0 (0.00%) Long positions (won %) 241 (57.26%)

 Profit trades (% of total) 138 (57.26%) Loss trades (% of total) 103 (42.74%)
Largest profit trade 245.00 loss trade -116.4
Average profit trade 90.94 loss trade -57.88
Maximum consecutive wins (profit in money) 9 (1222.00) consecutive losses (loss in money) 6 (-441.50)
Maximal consecutive profit (count of wins) 1222.00 (9) consecutive loss (count of losses) -441.50 (6)
Average consecutive wins 3 consecutive losses 2
 
Short positions (won %) 0 (0.00%) Long positions (won %) 241 (57.26%). But of course, hind sight 20/20. Why not just Buy AUDUSD at the begining of the month and max out the lots. This test is basically doing the same thing. Lets see you run a 12 months back-test longing and shorting.
123
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