Follow The Bouncing Pip - page 79
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4 hour TF
I am posting 4 hour TF statement for long time just to show diferents betwen enter trades on open new candel and enter on signal. It can help someone, maybe not, but it is here. Truly, EA is not a human and no one will wait ''400'' pips to come back to close position in SL, but it showing performance of enters in market by diferent ''time''.
Hope it helped, Marko
If you read the entire thread, you will see that BigBear has been using this system LIVE for the last year, and makes his living off of it. He also said you will get stopped out. This was not a good week for the system. He also said he closes all positions ahead of NFP reports, so today he would be out of the market. So, I don't think it's IF the system is profitable, but if YOUare profitable with the system.
He also said he trades this on the 4 hour timeframe, using GBPJPY and EURJPY. Perhaps we should focus on those parameters first. I believe he also uses the signal bar - if everything is red on there, it's not a good time to follow a buy signal from the system.
I do see more signals from the H1, and it looks like it can certainly be profitable - but we need to find the right parameters.
Has anyone tried playing with some of the parameters of NLZZ and ZZP?
I have also tried to figure out some of the logic behind what is happening. NonLagZigZag is trying to draw the lines up to the current time, which means it's going to redraw. I'm not sure I follow the ZigZag Pointer, because that seems to follow the ZigZag logic, which is delayed, if I'm not mistaken. Perhaps someone can correct me.
Thanks,
burn0050Well I do agree in some points, this system is about finding the start of a wave either bullish or bearish which has also to do alot with looking at the big picture (Daily TF) if want to trade with high risk using smaller TF like H1 or M30. In case of yesterday as everyone noticed in GBPJPY pair, the arrow and line kept going lower & lower causing a 5 stop outs.
BK
I think we have to use it for daily TF.
I think we have to use it for daily TF.
Sure , why not, you'd only need to check it once a day, and it gives less signals for more pips
The first signals on daily can be expected no earlier (usually) than when the price reaches top / bottom of recent swing (in the direction of trend) or around 50% during a retrace. If there is a healthy trend, like gbpusd in the past year and a half, then trend wise entries are very accurate with little or no losses. Counter trend trades lend more losses, but you never know when your best friend the trend will end 
good pip hunting all
ps, above examples I got from watching a simple visuall backtest on dailies to get an idea on zigzag's behaviour.
I have also tried to figure out some of the logic behind what is happening. NonLagZigZag is trying to draw the lines up to the current time, which means it's going to redraw. I'm not sure I follow the ZigZag Pointer, because that seems to follow the ZigZag logic, which is delayed, if I'm not mistaken. Perhaps someone can correct me.
Thanks,
burn0050ZigZag and ZigZagPointer are the same as far as code logic is concerned. The difference is that ZigZag uses lines and ZigZagPointer places an arrow at the latest high or low of the ZigZag line.
Robert
Hello Mr Pip.
Thank you for your reply (post 763) to my question about the arrow on 4h GU chart.
I have since corrected my setting on the zig-zag indi and have added a few more indicators.
Can you please check that it looks ok now.
Kind regards,
Zimmer
Why confused?
I think we need to forward test this method more than backtest it. I went forward testing yesterday - today and sustained 5 or six stop losses at 30 pips each. Visual or backtesting may not be as accurate as forward testing. Again, I caution all the claims I am reading. Let's get some hard forward testing results on 1 hr and 4 hr on this method and then see if it will hold the test of time. I have created an ea and will test it next week. This will truly test this method out.
Dave
<<<If you read the entire thread, you will see that BigBear has been using this system LIVE for the last year, and makes his living off of it. He also said you will get stopped out. This was not a good week for the system. He also said he closes all positions ahead of NFP reports, so today he would be out of the market. So, I don't think it's IF the system is profitable, but if WEare profitable with the system.
He also said he trades this on the 4 hour timeframe, using GBPJPY and EURJPY. Perhaps we should focus on those parameters first. I believe he also uses the signal bar - if everything is red on there, it's not a good time to follow a buy signal from the system.
I do see more signals from the H1, and it looks like it can certainly be profitable - but we need to find the right parameters.
Has anyone tried playing with some of the parameters of NLZZ and ZZP?
I have also tried to figure out some of the logic behind what is happening. NonLagZigZag is trying to draw the lines up to the current time, which means it's going to redraw. I'm not sure I follow the ZigZag Pointer, because that seems to follow the ZigZag logic, which is delayed, if I'm not mistaken. Perhaps someone can correct me.
Thanks,
burn0050
Well I do agree in some points, this system is about finding the start of a wave either bullish or bearish which has also to do alot with looking at the big picture (Daily TF) if want to trade with high risk using smaller TF like H1 or M30. In case of yesterday as everyone noticed in GBPJPY pair, the arrow and line kept going lower & lower causing a 5 stop outs. BK
Bkoori, that happened because the first friday of every month is when payroll reports come out. I would not recommend trading on those days, especially with 1hour charts or less.
But, my main question is to anybody with some experience with this strategy. I really want to know which currency pairs work best with a 1 hour timeframe. I just started practicing with this system, so any short cuts would really be appreciated. Thanks.
additional help
I did some testing last night just using your original approach. The strategy has great potential, but it also has a major drawdown due to repainting of the indicators.
Here is the first basic version of the EA and one problem which should be worked out before further work is done. The problem is of course REPAINTING. Any ideas? Maybe we should add a 3rd indicator to help filter out false signals.
Here are the illustrations of the problem:
6 false signals in a row (30 pip stop loss on each = 180 pip loss)
6 false signals in a row (30 pip stop loss on each = 180 pip loss)
The EA uses nonlagzigzag_v2 and zigzag-pointer indicators.
The final version of this EA will be available FREE to the author of this strategy and everyone who helps out in fine tuning it.
Please don't post ideas which have not been tested.dear nix,
how re you....
actually, the non lag zig zag and arrow gives us the indication of the price...that it is going to reverse soon......
however, we can get the best entry using stochastic 14,3,3.
i ve been using stochastic alone before. but after reading the bigbear thread..my entry become more precise. i got 150 pips alone in gbpusd this week. no loss at all. but i just take 30pips maks.hehe. small is better rather than hava 1 lost in account.
u can create an EA based on bigbear + confirmation on stochastic. the trade is trigger when the arrow meet non lag zigzag and after stochastic cross. for me, that is better entry.
see my attachment....
for EA programmer -
the entry is as follows:
1. zigzag + arrow meet,confirmation by stochastic -when it croos
2. move the S/L after xx pips. trail after its going up xx pips
3. S/L is xxpips.
4. set take profit = xx pips...
5. set money management - enter at xx lot after equity reach usd xxxxx
6. set partial take profit - at xx pips
i think thats all.
i ve been use this method sucesfully. thank you very much BIGBEAR. i really salute you...1000x thumbs up for u
Do you mean that you only take signal when stochastics give the same signal ?