Price Patterns(Gartley,Butterfly,Bat,...) - page 109
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Hi Gil,
Nice results: 10 percent in a day, I would be satisfied even with the half of that... I think you are on the right track.
As for your other question, I think NewDigital answered that one. The EA must not take a trade against any of the two indicators.
Regards,
ChrisstoffToday I have found myself on the wrong side of the AUDUSA and EURUSD.
Will see how the EA gets me out of it.
Chrisstoff - Will the EA hedge? If I decide to change from long to short while I still have a long trade going, will it take the next short trade with the martengale multiplier and then cancel both trades?
Hope you understand what I am saying?
Gil
I will not trade today: I am making the statements for elite sections and tsd forex calendar for next week - started from 3 pm GMT today and finished by Sunday evening ... every weekends for many years so I will be busy.
I will look at HWAFM tool today but you know - Friday is something exceptional day for trading - because of high impated news are coming on this day, and because it is the end of the trading week (many trades are closing their positions fixing the profit or loss). So, it is better - not to trade on Friday especially in scalping way.
As to subjective information ... I am looking for HWAFM tool and for Ichimoku chart on the same time. But yesterday's estimation was correct: I estiumated GBPCHF and traded it for bullish.
But prediction/information from Ichimoku charts (and from any other 'technical systems') are coming later than from HWAFM tool. I mean: HWAFM tool is the first one who is telling the true to us about near future
And I am using Ichimoku charts just to understand: when this future will be happened.
Example with this GBPCHF pair: HWAFM tool indicates bullish for all developing patterns yesterday. But nothing for Ichimoku chart. If I see Ichimoku chart right now - so I see that it was bullish for H1 tiomeframe (started by today) and the bullish was started for H4 right now.
As to GBPUSD so the bearish just started for H1 timeframe ... but it may be just a correctional trend only.
What I mean: HWAFM patterns tool is providing right/correct information to us but we need to check it with some other systems/charts just to understand about - when it will be happened exactly.
Hi Chrisstoff or ND
Could you explain the inputs in the EA?
I realise some are obvious
Many thanks ND
Excellent explanation/interpretation exactly my thoughts also. Would you and everyone else agree that to trade just looking at the hwfm and taking this as the leading indicator, as matfx I think also said, to look for alignment in the same direction of the lhr timeframes and above, is the key to look for strong alignments on any pairs, I think so do you. When we have alignment, it is safe to trade.
I am not using the ea, as for now I prefer to manually trade. For some reason, even tho I am on windows7 (so I should not need .rar) even tho I have this too, I dont seem to be able to download .rar indys and only mqls?? So I cant download magsignal/trendscalp??
Hi Gil,
Sorry to hear that yesterday you were on the wrong side of the market concerning AUDUSD and EURUSD. It would be interesting to know how the EA was able to cope with that situation. I think we can learn more from failures than from successes, unfortunately.
No, this EA is not able to hedge the open orders.
As I am not the original author of the EA, I tried to figure out what the inputs mean. So, the explanation of the inputs the EA uses:
Magic = 772188; // Magic Number the EA uses to find its own trades
EcnBroker = true; // True if the current broker is ECN broker
Comm1 = "myStrategy either can be MACD or TrendScalp";
myStrategy = "TrendScalp";
Comm2 = "In Semi-Auto mode select BuyOK or SellOK respectively";
BuyOK = 1; // = 1 If user thinks the main trend is bullish
SellOK = 1; // = 1 If user thinks the main trend is bearish
TakeProfit = 12; // Profit Target in pips, if 5 digits broker then 12 means 120
Lots = 0.01; // Initial trade size if Money_management = false
InitialStop = 160; // Initial stop. The real stop is calculated as (InitialStop + (MaxTrades-OpenOrders)*Pips)
TrailingStop = 0; // Distance for a simple trailing stop measured in pips
MaxTrades = 3; // Max number of open orders at a time. After reaching this limit the EA does not open more trades.
Multiplier = 1.6; // Quotient of trade sizes in a sequence of orders. E.g. if Multiplier = 1.6 and the first
// order's size 0.1 then the next is 0.16
Pips = 10; // Mimimum distance between two orders in an order sequence in pips
OrderstoProtect = 4; // Number of open orders after the EA tries to close all orders with minimal profit
Money_management = false; // If = true the EA calculates the suitable initial trade size from risk and the account equity
AccountType = 1; // 0: Standard account(NorthFinance,MiG,Alpari) 1: Normal account(FXLQ,FXDD) 2:InterbankFX's NANO Account
risk = 0.5; // Risk in percentage of equity the trader wants to lose. It is not correct because of the Martingale nature of the EA
ReverseSignal = false; // If = true, the EA opens sell trade at a buy signal and vice versa
Fast_EMA = 12; // Indicators settings in case of MACD strategy
Slow_EMA = 26; // Indicators settings in case of MACD strategy
Signal_SMA = 9; // Indicators settings in case of MACD strategy
Shift = 1; // If = 1 the EA opens position after closing the signal bar in case of MACD strategy
TradingRange = 0; // Tradeing interval setting in case of MACD strategy
UseHourTrade = False; // False for always trading
FromHourTrade = 7; // If UseHourTradeHour = true, the hour when the trade activity starts
ToHourTrade = 21; // If UseHourTradeHour = true, the hour when the trade activity ends
Regards,
Chrisstoff
Today I have found myself on the wrong side of the AUDUSA and EURUSD.
Chrisstoff - Will the EA hedge? If I decide to change from long to short while I still have a long trade going, will it take the next short trade with the martengale multiplier and then cancel both trades?
Hope you understand what I am saying?
GilHi Gil, Sorry to hear that yesterday you were on the wrong side of the market concerning AUDUSD and EURUSD. It would be interesting to know how the EA was able to cope with that situation. I think we can learn more from failures than from successes, unfortunately.
Here are the results sofar. I do try and change the direction of trading pairs when I can.
Even if the AUD closed the EA would be running even.
See results
Thank you, Gil. I do appreciate your contribution.
As far as I can judge the EA does what it should do. Fortunately, it did not dig itself into a deep drawdown.
I have two ideas:
- Perhaps setting shorter SL would prevent serious losses, meaning setting SL/TP (alias risk/reward) ratio at a more favourable value.
- Maybe setting Multiplier to 2 would give better results when there are two or three or possibly even more open orders (depending on MaxTrades' setting) and one of them reaches TP.
The preconception was the main trend is defined by harmonic patterns and the user put the trend direction manually into the EA. So, if the harmonic signal fails, then the main goal of the EA is to minimize the loss and prevent from getting into the deep drawdown. I think we could help the EA reaching these goals with fine tuning the settings mentioned above.
Regards,
Chrisstoff
Here are the results sofar. I do try and change the direction of trading pairs when I can.
Even if the AUD closed the EA would be running even.
See resultsThank you, Gil. I do appreciate your contribution.
As far as I can judge the EA does what it should do. Fortunately, it did not dig itself into a deep drawdown.
I have two ideas:
- Perhaps setting shorter SL would prevent serious losses, meaning setting SL/TP (alias risk/reward) ratio at a more favourable value.
- Maybe setting Multiplier to 2 would give better results when there are two or three or possibly even more open orders (depending on MaxTrades' setting) and one of them reaches TP.
The preconception was the main trend is defined by harmonic patterns and the user put the trend direction manually into the EA. So, if the harmonic signal fails, then the main goal of the EA is to minimize the loss and prevent from getting into the deep drawdown. I think we could help the EA reaching these goals with fine tuning the settings mentioned above.
Regards,
ChrisstoffI will put your suggestions to the test this week
Gil
This version is EA is using different volty indicator.
Use public version of TrendScalp:
https://www.mql5.com/en/forum/173439/page53
or change VoChSt indicator to VoChSt_1 on your image - https://www.mql5.com/en/forum/173439/page71
=============
- HWAFM tool for Metatrader 5 is here;
- How to instal - read started from this page till this one
- How to instal HWAFM tool for Metatrader 5 for Windows 7 : read this page till this one.
- Trend Scalp system for M1 timeframe for Metatrader 4 to be used together with HWAFM tool for Metatrader 5: public version and elite section version.
- how to trade using HWAFM patterns tool for Metatrader 5 and Trend Scalp system for M1 timeframe for Metatrader 4 in the same time :some trading examples/trading statements/results started from this page till this one; explanation about trading styles - read this post; explanation about Maksigen indicator - read this post.
- semi-automatic method of trading by EA: idea originally came from this page till this page; Original version for semi-automatic trading is 10p3v0.0321 EA; The new version for semi-automatic trading is 10p3v0.0331 EA: download from this post with the explanation - the user can select between MACD or TrandScalp strategies.; 10p3v0.0321_1 EA to be used together with Trend Scalp system for M1 public version with no re-enters is on this post and same but improved version (10p3v0.0321_2) with re-enters is on this post (use/download 2 indicators from previous 10p3v0.0321_1 version/post); explanation of the EA's inpuit is here.
Just some evaluation for this week or for the beginning of this week.
EURUSD
Ichimoku charts.
D1 timeframe.
It is Bear Market Rally now (bullish correction after general bearish), but it is still bearish.
H4 timeframe.
Bearish.
H1 timeframe.
It is Non-Trading after correction. But it is still bearish.
HWAFM patterns.
We can see bullish for the developing patterns but I think - the situation will be changed soon - we can see here as it may be too late for bullish:
=============
- HWAFM tool for Metatrader 5 is here;
- How to instal - read started from this page till this one
- How to instal HWAFM tool for Metatrader 5 for Windows 7 : read this page till this one.
- Trend Scalp system for M1 timeframe for Metatrader 4 to be used together with HWAFM tool for Metatrader 5: public version and elite section version.
- how to trade using HWAFM patterns tool for Metatrader 5 and Trend Scalp system for M1 timeframe for Metatrader 4 in the same time :some trading examples/trading statements/results started from this page till this one; explanation about trading styles - read this post; explanation about Maksigen indicator - read this post.
- semi-automatic method of trading by EA: idea originally came from this page till this page; Original version for semi-automatic trading is 10p3v0.0321 EA; The new version for semi-automatic trading is 10p3v0.0331 EA: download from this post with the explanation - the user can select between MACD or TrandScalp strategies.; 10p3v0.0321_1 EA to be used together with Trend Scalp system for M1 public version with no re-enters is on this post and same but improved version (10p3v0.0321_2) with re-enters is on this post (use/download 2 indicators from previous 10p3v0.0321_1 version/post); explanation of the EA's inpuit is here.