Follow The Bouncing Pip - page 86
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burn0050
burn0050,
Man you have to use a filter if you want the EA to be successful all the time. Also remove the "start/end trade" at candle open and let it make the trades when the arrow+nonlag appears + filter confirmation.
It has to enter the trade as fast as possible, because u might lose lots of pips if you let it waiting.
Thanks, Zmax
Here is a version of zigzag-pointer that does not erase old arrows. It places yellow arrows where a Green arrow would have appeared and an orange arrow where a Red arrow would have appeared.
I am also attaching SilverTrend_Signal with a new input variable called SSP. Try using a value like 21. The default is the value from the original posted on this thread.
I worked on an EA a few years ago using this indicator and found that higher values for SSP gave better signals on higher timeframes.
RobertHey Rob, would it be possible for you to also produce a NonLagZZ indicator that also shows its repainted lines in a different colour? Because the system comprises of not just the arrow, but the line as well. So if we knew when both repainted, it would make our backtesting much more powerful.
Thanks.
Hey Rob, would it be possible for you to also produce a NonLagZZ indicator that also shows its repainted lines in a different colour? Because the system comprises of not just the arrow, but the line as well. So if we knew when both repainted, it would make our backtesting much more powerful. Thanks.
I have been working on that and so far no luck. I modified the indicator to place arrows as I did with the zigzag-pointer indicator and the arrows only appear when the zigzag reverses.
I will post it when I get it to work.
Robert
I have been working on an EA for this method. The biggest problem is when trading by the origianl rules of placing the trade as soon as the arrow appears the backtest takes a VERY long time.
When trading on closed candles, the EA can use the following code to speed things up.
if (dtBarTime == Time[0]) return(0);
dtBarTime = Time[0];
This code allows the EA to only check the indicator once per candle.
With the original rules it is necessary to check every tick.
The arrow can occur in the first few minutes of a 1 hr candle.
I also believe the stoploss rule needs to be clarified. Is set to 30 pips above the high that created the arrow, some hour candles will have 2 or 3 losses before the close of the candle.
So far the EA is profitable using open or closed candles.
I am also looking at CCI to confirm the exit. One buy trade visually closed for 700+ pips at the first arrow but CCI was still rising signaling to stay in the trade. There were 4 more arrows saying to exit the trade but CCI kept the trade open. The final close was for over 1400 pips. If the trade had been closed, the arrows would have caused loss trades because they signaled a short. Each arrow was on the nonlag ZigZag line.
Robert
Robert
it is repainting?
Thank, Marko for giving posting Move like a Shadow... Indicator. I just tested it out and I saw it repaints and that unfortunate. So here I am out again trying to find a filter.
burn0050,
Man you have to use a filter if you want the EA to be successful all the time. Also remove the "start/end trade" at candle open and let it make the trades when the arrow+nonlag appears + filter confirmation.
It has to enter the trade as fast as possible, because u might lose lots of pips if you let it waiting.
Thanks, ZmaxZmax,
I removed all of the candle code - I'm not sure what you mean by 'remove the "start/end trade" at candle open'.
I wanted to see what it would do without any filters first, because there could be ways to optimize it using stop loss and money management first. Even so, it has an awful lot of consecutive losses, and the only way I see around that is to use a filter. I also wonder what it would be like if the system didn't trade during NFPs.
I haven't done any forward testing with this yet; I wanted to see what I could get to with back testing. Live testing is a whole different ball game. I am getting some errors in the journal - I don't think it's opening and closing all the orders correctly.
Thanks,
burn0050
The indicator I have leaves the arrows of the zigzag pointer indicator (or sell and buy signals) on the chart even after re-painting.
They are placed on the chart in dots so they would not confuse with the arrows that do re-paint.
You can nicely see that a new dot is placed everytime price makes a new high (according what a zigzag indicatore does).
As you can see I took a piece of data on the gbpjpy 60min as BB sugested.
Before the final correct sell arrow was given there were 49 (fourthy nine!!!) false trades or re-painted trades.
How can you ever explaines to yourself that you have 49 false trades before you catch the correct one ?!....
Same problem over some periods on the eurjpy and on the 4hour time frames.
So I realy don't understand that some people go wild over this "system"...
The author of this topic says in posting #4: repaints = loss. If it doesn't it = big win.
It is like other systems here on this forum. If it goes good you realy earn good money. But if it goes bad you burn your account in no time...
Again the same issue as on other topics: ask the author or people who CLAIM they make big profits with this system to SHOW PROOF with there account statements over a longer period of time (and don't get exited over a few days profit). I'm pretty shure that they will pretend they didn't hear or read your request.
friendly regards...iGoR
PS. What I also don't understand is that so many people get attempted to look to re-painting indicators ?...
If one would stick to non-repainting indicators your trading lives would be "easier"...(that doesn't mean that automaticly you wil earn money--but it will save you a lot of frustrations).
Fact is that the re-painting indicators look a lot nicer on your chart...but that is "scamming" yourselfs...
PS2 Backtest produced with the help of re-painting indicators are NEVER to be trusted . Even not a little bit!
I have a new signal on the gbp/jpy, but i'm still waitin for the right candle-stick pattern to jump in the trade. the new trade will be a short.
Hi Forex 11
So far I can only see a red arrow on 30m G/J chart. Is this what you will be basing your G/J sell position on? Or will you wait for 1h and 4h arrows to confirm sell?
Zimmer
Testing?
As you can see I took a piece of data on the gbpjpy 60min as BB sugested.
Before the final correct sell arrow was given there were 49 (fourthy nine!!!) false trades or re-painted trades.
How can you ever explaines to yourself that you have 49 false trades before you catch the correct one ?!....
Same problem over some periods on the eurjpy and on the 4hour time frames.
Are the dots where the arrows AND the zigzag lines touch? They don't always touch, and that's the signal.
1hr
Hi Forex 11
So far I can only see a red arrow on 30m G/J chart. Is this what you will be basing your G/J sell position on? Or will you wait for 1h and 4h arrows to confirm sell?
ZimmerI have a signal on the 1hr chart