These are my thoughts after months of watching Phoenix in action: Phoenix seems to be able to pick the tops and bottoms very well. Be it the entry point, SL, or TP, they're often placed very close to the the peeks and valleys. The problem is that Phoenix is often confused and picks the wrong direction. Therefore, the trades often hit the SL instead of TP. I think we should focus our attention on the directional issue next.
My suggestion. Why not we use RSI as a control.
If ALL (current) pheonix criteria meet AND RSI(14) <40 then BUY or
If ALL (current) pheonix criteria meet AND RSI(14) >60 then SELL.
aauzir, thanks for the suggestion!
What do you guys think?
But what RSI timeframe?
Could use a RSI timeframe greater than the 15min.
Since Phoenix is countertrend insuring that the 1hr 5 period RSI is >50 for short entries and <50 for long entries could insure the right countertrend direction.
The XO method uses this.
RSI is already included as a signal, we just need people to optimize for it. I'm doing some optimizations now, I will try to include RSI as well and see if I get good results.
The USDCHF settings i posted previously seemed to expire after 2 weeks. The USDCHF settings I just posted will be watched carefully. GBPUSD seems to have expired. Settings thread has current settings.
I tinkered with the ATR code from P6B5. No other changes were made. Phoenix 6 is released in the main thread, here is another copy. Settings file included here for convenience, also exists in the settings thread.
Released settings use signal 1,4,6 with filter 1,2.
Thank you again ! I will forward and back test and try to come up with better settings to share. So, join in and share your results !
P6B5 was working fine on $/CHF. I started trading $/JPY and now get this message repeatedly.
"2007.08.02 05:32:53 Phoenix6 Simple Beta5 USDJPY,M30: invalid lots amount for OrderSend function"
I've dbbl checked my settings, tried reducing lot size by moving the decimal place over. Any ideas? I know its something obvious that I've overlooked. Perhaps another set of eyes on the problem would help. Heres the settings.
C_TradeManage====== Trade Management Settings =====
C_Function_Y======= Lotsize Money Management =====
C_Function_X1======= Exit Management =====
C_SignalA======= Signals Enabled =================
C_Signal1======= Signal 1 Envelope =================
C_Signal2======= Signal 2 SMA Difference ===========
C_Signal3======= Signal 3 OSMA Cross ===============
C_Signal4======= Signal 4: Price Divergence ========
C_Signal5_6====== Signal 5 RSI Direction & 6 RSI =====
C_Filter1======= Filter 1: BBands Channel Detect =====
C_Filter2======= Filter 2: Allowed Time ==========
C_Filter3_4======= Filter 3&4 Trend ===============
C_SystemChange======= System Changes =================
Problems with lots
My agent is CrownForex (they charge 1pip on majors but have a crapload of rules, the Swiss fellas) and i had a similar problem recently when i did the upgrade. Got an email from them saying lots on metatrade platforms (and all roads lead to Metaquotes Corp) been changed from, say, 1lot to 100000. Basically you're trading amounts now. I recoded my EA and it's back to operating now again. Lemmi know if it solves the issue.
You should be able to use Phoenix with Crown by manually setting the amount in units to trade without money management, or using money management with a risk figure 100,000 times higher than normal.