Follow The Bouncing Pip - page 76
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I am getting a much better understanding of how this method works.
I just finished a visual test from Aug 6 to Sept 2 for GBPJPY 1 Hr chart.
Some of the wicks had me in trades earlier with the wick moving higher after entry so I used the actual price when the arrow appears.
I changed the rules slightly to move stop to Break Even + lock of a few pips when up 50 pips or more. Then move stop as trade progresses as I would do manually anyway.
Sell at top from arrow and line together began the run.
Trade 1 closed at signal for 300 pips.
Trades 2 and 3 closed at BE + lock.
Trades 4 - 11 stopped out for 30 pip loss
Trade 12 wins 150 to 200 pips.
Trade 13 close at BE + lock
Trade 14 - 16 stopped out for 30 pip loss.
These trades were on the same candle as trade 17 but were stopped out while the wick became longer.
Trade 17 wins 100 pips
Trade 18 and 19 stopped out for 30 pip loss.
Trade 20 wins 600 pips
Trade 21 wins 984 pips with early exit when the first arrow appeared.
The last trade could have been for 1370 pips using an new exit idea.
Wins = 300 + 150 + 100 + 600 + 984 = 2134 pips
Losses = 13 * 30 = 390 pips
Break Even trades could add another 3 small wins.
Net of 2134 - 390 = 1744 pips.
Not bad for 3 weeks.
RobertMr pip, did you base this off arrows and candle closed, or when the arrow first pops up? I'm am assuming off arrows after candle close since it was a backtest. Anyway you cut it, very interesting results 13 loses 3 BEs and 5 wins, thats less than 30% win rate, but mega pips.
I am getting a much better understanding of how this method works.
I just finished a visual test from Aug 6 to Sept 2 for GBPJPY 1 Hr chart.
Some of the wicks had me in trades earlier with the wick moving higher after entry so I used the actual price when the arrow appears.
I changed the rules slightly to move stop to Break Even + lock of a few pips when up 50 pips or more. Then move stop as trade progresses as I would do manually anyway.
Sell at top from arrow and line together began the run.
Trade 1 closed at signal for 300 pips.
Trades 2 and 3 closed at BE + lock.
Trades 4 - 11 stopped out for 30 pip loss
Trade 12 wins 150 to 200 pips.
Trade 13 close at BE + lock
Trade 14 - 16 stopped out for 30 pip loss.
These trades were on the same candle as trade 17 but were stopped out while the wick became longer.
Trade 17 wins 100 pips
Trade 18 and 19 stopped out for 30 pip loss.
Trade 20 wins 600 pips
Trade 21 wins 984 pips with early exit when the first arrow appeared.
The last trade could have been for 1370 pips using an new exit idea.
Wins = 300 + 150 + 100 + 600 + 984 = 2134 pips
Losses = 13 * 30 = 390 pips
Break Even trades could add another 3 small wins.
Net of 2134 - 390 = 1744 pips.
Not bad for 3 weeks.
RobertHi, Robert,
Wow! this is truely amazing. I just couldn't wait to see if we can reproduce this in an EA.
This is an excellent point from an experienced trader. TY Pips..most people do not ask these hard realistic questions...backtests and systems just become tables of #'s
ES
That's assuming you would have waited for the opposite arrow to get out. If you were trading this system on a live account, would you have?
Hi all,
This is my first post ever, so bear with me (no pun intended). I hope I'm figuring this right, but even with the false entries, you would gain almost 1300pips from the GBP/JPY chart Brunite posted.
I idealized this a bit by using only the highs and lows for the bars with arrows, but if a stoploss was set at 30pips below the low of each entry, you'd enter on 11 false signals, and still come out way ahead. This is supposing you enter on the next signal after the bar that the stop was hit on (see attached screenshot).
Many thanks to Bigbear and Forex11 for sharing this system, and to all of you gurus who are helping.BTW, are these the same indicators that Mr. Pip posted in post # 721? Thanks.
Hello bear, forex11 and all the other great guys here.
Loving this thread, this method and the results. Best ever, and fitting my trading style.
Just one question:
On the attached chart...the last orange arrow should be red, no? As it's the last one. And the red one should be orange. Maybe someone can help me out with this?
Mr pip, did you base this off arrows and candle closed, or when the arrow first pops up? I'm am assuming off arrows after candle close since it was a backtest. Anyway you cut it, very interesting results 13 loses 3 BEs and 5 wins, thats less than 30% win rate, but mega pips.
I ran the EA posted in visual mode on backtest, paused and added the indicators, then ran to completion. I manually wrote down each entry and exit point. All entries from when arrow first appeared. Some of the arrows did not matter because already in the trade.
Robert
Hello bear, forex11 and all the other great guys here.
Loving this thread, this method and the results. Best ever, and fitting my trading style.
Just one question:
On the attached chart...the last orange arrow should be red, no? As it's the last one. And the red one should be orange. Maybe someone can help me out with this?Yes the last arrow should be red but that is the bug in ZigZag I mentioned earlier. All arrows should also be touching the candle becaue they are plotted at the high or low of the candle. When one is away from the candle I suspect the arrow actually belongs on a different candle.
When I ran the backtest in visual mode I did notice that most of the arrows from ZigZagPointer were on the line from NonLagZigZag but often the arrows would appear before the line was plotted. I also noticed that the line does move causing arrows that are now away from the current line. I hope to find the time to code the nonlag to place arrows each time the new high or low is found.
That is another thing on my todo list but a low priority.
I am busy with other projects but still trying to find the bug in ZigZag that causes this. ZigZagPointer is the same code, just puts the arrow instead of line segments.
Robert
Hi, is this what u are tolking about? Picture below is just first hocus pocus. Test is for all August on 1hour TF, 3 enters posible on next signal, open deposit 2000 USD, enter position with 0.1 lot size, SL 100 pips, TP on oposite signal.
Hi there. Just want to thank everyone who introduced this system to us, big bear, forex11 and the rest of the gang! It works great and I hope we can all profit from it.
With regards to DXTRADE's chart, the arrow and lines touched on both my 1h and 4h charts.
Perhaps Mr Pip could comment on this.
Kind regards,
Zimmer
Hi there. Just want to thank everyone who introduced this system to us, big bear, forex11 and the rest of the gang! It works great and I hope we can all profit from it.
With regards to DXTRADE's chart, the arrow and lines touched on both my 1h and 4h charts.
Perhaps Mr Pip could comment on this.
Kind regards,
ZimmerMy GBPUSD charts shows arrow and line touch on 1 hr but arrow is on wrong candle for 4 hr even though the level of the arrow looks like it is at most recent high as shown on your chart. Arrow is 20 bars back on 9/3/2007 08:00 candle.
Robert