Follow The Bouncing Pip - page 263
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It is on this post:
https://www.mql5.com/en/forum/177573/page48
More about zigzag:
https://www.mql5.com/en/forum/172952
and
https://www.mql5.com/en/forum/173588/page50
and how to search the forum (very usefull thread):
https://www.mql5.com/en/forum/178546
Many Thanks and EA settings
MrPip,
Thank you to Big Bear, Forex11 and yourself for all the work that went into this system. I was on this thread following along way back when. This is an excellent and easy system to trade manually, probably why we have not had a lot of push from members working to optimize the EA.
In the last six months or so I have tried to optimize the EA but keep getting very weak results. In backtesting (which we know is not a good representation of this system going forward, I'm only able to produce about $100 - $150 a month in profit trading 0.1 lot. In manual trading I have been doing so much better. Not ready to leave my day job but the extra money is good. Has anyone posted or PM'd you some suggested settings for the EA? It is a great EA with TONS of flexibility which makes it powerful but difficult to optimize so many possible combinations.
As for suggestions for the EA, the only one I have is the 4digit/5digit broker update.
There is so much information on this thread for people who would like to trade this system. I would highly recommend skipping the short cut of jumping in and asking everyone for answers, but rather go to school, learn, go back and read all the posts. It has made me a much better trader of the system. As a result, I have a system that works for me and I'm no longer jumping from shiny object to shiny object.
Most of the previous users are off using this system to make money so they don't come here very often to hear people who haven't read the thread drivel about indicators that repaint.
Thanks again BB, Forex11 and Mr Pips and a host of others.
New versions for ECN and 5 digit brokers
Here are the new versions of the EA with changes to handle ECN and 5 digit brokers. They will still work correctly with 4 digit brokers and non ECN brokers.
The major change is that orders are first placed with no stoploss or takeprofit. Those values are then modified based on OrderOpenPrice.
This is the requirement for ECN brokers.
Unless I find the time in my busy programming schedule to read the thread from my last posting from 2007, or was it 2008, I will not be adding anything else to the EA unless requested.
Robert aka MrPip
Trading
ejohnston,
Glad to hear you are trading this effectively how do you overcome the repainting with the zig zag? Do you just set stop loss above the last high or low and wait for the move to actually happen in the way you want it?
I have seen zig zag repaint but then again it is actually suppose to the repaint (its apart of the design of that indicator).. But people still use it to enter trades instead of just a barometer for perhaps a potential reversal.
continue good fortune in your trading...
Theo
Theo,
The repaining zigzag is the reason for the confirmation methods used in testing the EA.
Several indicators were mentioned and are coded as filters in the EAs.
QQE and nonlagMA, which I recoded as nonladdot seem to work the best.
There was a period where 14 losses in a row occured by using zigzag alone. That was reduced to 3 losses by using nonlagdot to confirm the change in direction.
Since then I have been using the 3 level zigzag indicator with better results.
That is why I asked what people were now using and what can be added to the EA to improve it or taken out of the EA as a non profitable filter.
Robert Hill aka MrPip
zigzag repaint
I trade the H1 TF and force myself to only take trades with a confirmation signal on the M30 and H4 TFs. I then use a combination of the nonlag dot and making sure the low or high of the pointer signal candle has been broken in my direction by the next appearing candle. Reduces the likelyhood of a repaint by waiting, especially when getting 3 time frame agreements. I still laugh to myself though when I think 3 wrongs don't make it right....however I'm willing to bet that I will be right more often than wrong this way which has seemed to have proven itself over time. As a stop loss I set it at 63 pips over the high or low of the pointer candle. I never use the same numbers as the crowds entering or exiting, saves a lot of naughty broker stop outs.
I use smaller lot sizes so I can absorb some price fluctuation and stay in the trade longer to let it run it's full course. This has been essential for making money on this system. Let the profits run and maybe even add to the position on a bounce if I can confirm from other indicators.
For exit strategy I watch the midline of the BB as a support/resistance level. If the price plows through that I will allow the trade to run, and again maybe add to the position. If the price get's hung up there I will probably move my stoploss down tight or take my money and move on depending on how I feel about the move (just a bounce or still a reversal) You would be amazed how many times what looks like a market reversal is only a small correction off the high/low only to bounce off that darn BB mid line.
For me, I've been spoiled and using the manual system seems to work well. As for the EA, the only thing I could see adding would be the 3 time frame confirmation. I don't believe that is found in the BBear EA or your more advance version?
This has really been an interesting project as I have learned a lot about the differences between manual trading and how hard it is to simulate that thought process and feel for the market into an EA. I will say though Mr Pips that you are an excellent programmer and I admire your skill.
Theo,
The repaining zigzag is the reason for the confirmation methods used in testing the EA.
Several indicators were mentioned and are coded as filters in the EAs.
QQE and nonlagMA, which I recoded as nonladdot seem to work the best.
There was a period where 14 losses in a row occured by using zigzag alone. That was reduced to 3 losses by using nonlagdot to confirm the change in direction.
Since then I have been using the 3 level zigzag indicator with better results.
That is why I asked what people were now using and what can be added to the EA to improve it or taken out of the EA as a non profitable filter.
Robert Hill aka MrPipMr Pip,
If you dont mind me asking, did you save you nonlag dot indicator to this thread? If not please share your indicator so i can test it was well..
I find that macd with std setting can be a useful indicator along with other can help confirm.
Thank you.
Theo
Mr Pip,
If you dont mind me asking, did you save you nonlag dot indicator to this thread? If not please share your indicator so i can test it was well..
I find that macd with std setting can be a useful indicator along with other can help confirm.
Thank you.
TheoThe link to indicators I used with the EA is found on the first post of this thread.
https://www.mql5.com/en/forum/177573/page102
Robert Hill aka MrPip
Thanks
Thank you Mr. Pip.....
can anybody help adding sounds on
can anybody help adding sounds on
so when the new top or new low made the sounds ring