Market condition and EAs - page 4
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MTF EAs. Part 4.
TrendEnvelopeExpert_v2.2 EA.
Slightly MTF.
Conclusion.
What is Slightly MTF?
What is the different between Slightly MTF and Hard coded MTF EAs?
In Slightly MTF EAs we are using one timeframe but confirmation and so on - on the other timeframe.
Slightly MTF is partly MTF.
For example, we created some trading system for H1 but we want to trade on the direction of MA on D1 timeframe, or we are using D1 pivot just for confirmation and so on. It is Slightly MTF or partly MTF.
- Slightly MTF (or partly MTF) EAs are having "zigzaging" equity/balance graph (Metatrader's forward statement graph) so please be ready for that when you are using any kind of Slighly MTF EA;
- no any backtesting can be valid for those kind of EAs. There are some cases when we can consider backtesting as a valid one but in most of the cases: backtesting and settings optinizing will not help us a lot with this EAs;
Improvements.
Slightly MTF (or partly MTF) can be created from good proven trading systems or from good profitable simple EAs. It is very difficult (almost impossible) to create good Slightly MTF EA from "please convert my 2 indicators onto EA". It is necessary to trade the system manually and system should be well developed, or to use already existing EA just to create this kind of Slightly MTF EAs.
Any possible improvements of any Slightly MTF EAs are related to trading system itself and not for marlket condition.
MTF EAs. Part 4.
TrendStrengthExpert_v2 EA.
Slightly MTF.
Settings of normal simple EA.
It is very complex EA using many indicators.
Any indicator inside this EA is having timeframe settings. It means that we may select any timeframe for indicator's confirmation or for the signal.
It is very complex EA:
- we can select any coded indicator as a signal and any others - for conformation;
- we can select any timeframe for that, even if it will be MTF cases;
- we can select tmefilter (time to start and time to finish to trade);
- we can select to close all the orders in selected time, or keep the orders for the next day;
- we can select to use just 1 indicator only, or 2 indicators all together, or all indicators all together or separatedly for enter as a signal, or for confirmation, or for exit.
And so on.
All EAs from 'well-working' thread is on this post.
My settings for TrendStrengthExpert_v2 EA (t0gether with EA and indicators) see this post.
All indicators, system explanation, template to trade manually and so on:
TrendStrengthExpert_v2 EA: trading manually and explanation starting from this page till this one.
There are some modification of this TrendStrengthExpert_v2 EA which I did not test yet:
TrendStrengthExpert_v2Scalper_2 modified by Flytox are on this page. Indicators: TheOnlyPivot_Level is on this thread and Volatility.Pivot.Open is here.
MTF EAs. Part 4.
TrendStrengthExpert_v2 EA.
Slightly MTF.
Settings of normal simple EA.
Indicators.
This EA is using the following indicators.
1. TrendStrength_v2 indicator.
I am using this indicator for confirmation of the trend/signal:
TS_Mode = 1; // TS Mode: 0-off, 1-trend (confirmation), 2-signal
2. TrendEnvelopes_v2 indicator.
It is used for trend conformation as well:
TE_Mode = 1; // TE Mode: 0-off, 1-trend (confirmation), 2-signal
3. VoltyChannel_Stop_v2.1 indicator.
In my settings for EURUSD this indicator is used for the trend conformation as well:
VS_Mode = 1; // VS Mode: 0-off, 1-trend (confirmation), 2-signal
4. AddSignal_v1 indicator.
This indicator is complex indicator because it's using 3 indicators inside (MAofHA_v1, MACDofHA_v1 and standard RSI indicator for above or below 50).
In my settings I am using this indicator as the signal indicator:
In my settings for EURUSD this indicator is used in the following mode:
Add_Mode = 2; // Add Mode: 0-off ,1-trend (confirmation), 2-signal
5. AbsoluteStrength_v1.1 indicator.
This indicator is using to indicate Bulls and Bears.
In my settings for EURUSD this indicator is used in the following mode:
AS_Mode = 1; // Add Mode: 0-off, 1-trend (confirmation), 2-signal
Please note that it is my settings only as we can use any timeframe for any indicator, or use them as the signal or as the conformation and so on.
Exit.
It is very advanced settings concerning exit: there are 9 kinds of exit for your choise.
In my settings I am using ExitMode = 7:
It is exit on It is exit on TrendStrength_v2 indicator, or on VoltyChannel_Stop_v2.1 indicator, or AbsoluteStrength_v1.1 indicator (depends what will be the first).
Timeframe and timefilter.
Any indicator inside this EA is having timeframe settings. It means that we may select any timeframe for indicator's confirmation or for the signal.
I am using current timeframe for confirmation and for signals (H1).
EA is having timefilter. We may select start hours and minutes and start the trade, and end hour and minues to finish the trade.
We can select to close all the orders in the end of the day, or keep the orders for the next day. I am using:
CloseTimeMode = 0; // CloseTime mode: 0-off, 1-on
Trailing
There are 2 trailing stop modes coded inside:
- no any trailing stop using;
- normal trailing stop according to the value we selected;
- EA will trail the trades according to TrendEnvelopes_v2 indicator's lines.
In my settings I am not using trailing stop:
TrailingMode = 0; // 0-off, 1-standard, 2-System by TE
As we see from the image the system does not look complicated to trade manually: one signal to enter (arrows) should be confirmed by other 4 indicators.
But please note that this template is concerning my settings only. As I said this EA is having very advance settings and almost all variations of the settings were coded inside. To say it in more simple way: we can use this EA as Hard coded MTF, or as Slightly MTF, or as normal EA.
I am using this EA as normal EA: signal to enter (arrows) and all indicators conformation are making on the curent timeframe. I am using H1 chart so the signal to enter and all the confirmation - for H1.
So, I do not have any MTF case in this EA according to my settings.
But it is just my selling only. Of course we can change anything.
For more information:
TrendStrengthExpert_v2 EA: trading manually and explanation starting from this page till this one.
MTF EAs. Part 4.
TrendStrengthExpert_v2 EA.
Slightly MTF.
Settings of normal simple EA.
So, I am using H1 timeframe for EURUSD.
In my settings it is not MTF EA in any way.
And because of that we should have normal understandable balance/equity curve.
It is the forward testing results:
MTF EAs. Part 4.
TrendStrengthExpert_v2 EA.
Slightly MTF.
Settings of normal simple EA.
Improvements.
I do not think that we need improve this EA. At least with 'normal EA's settings' using.
As to Hard coded MTF settings so it may be good to implement all account protection codes which were in Alpha EA for example.
Conclusion.
It is good system for manual trading and good EA with many variations of this system using.
I am trading EURUSD H1 and the other pairs is just the problem to find good settings.
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There are some more very interesting EA coded and posted here. I am forward testing just 2 of them now:
TrendStrengthExpert_v2 EA and TrendEnvelopeExpert_v2.2 EA. I will describe later about all EAs which I am not forward testing, why I am not forward testing them and what we need to improve those EAs (it will be some special posts in the end of this thread later).
MTF EAs. Part 5.
BrainExpert_v2.
Anti-MTF EA.
Just want to say the following: we are having this section https://www.mql5.com/en/forum/trading_systems about BrainTrading system and this BrainExpert_v2 is not exactly about this system setup. I will describe in next posts all the particularities concerning this EA as it is very intersting kind of EAs: Anti-MTF EA.
This thread is not yet finished.
But it is very important thread to understand about MTF EAs.
Just to remind.
Forum on trading, automated trading systems and testing trading strategies
Market Condition Evaluation based on standard indicators in Metatrader 5
Sergey Golubev, 2013.09.01 21:06
This my post? red dotted lines are for possible sell stop trade, blue dotted lines are are possible buy stop ...
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Anyway - I just copied some latest summary from this thread :
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Market Condition Evaluation
story/thread was started from here/different thread
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The beginning:
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Market condition
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3 Stoch MaFibo trading system for M5 and M1 timeframe
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PriceChannel ColorPar Ichi system.
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MaksiGen trading system
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Merrill's patterns are on this page.
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Divergence - how to use, explanation and where to read about.
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Scalp_net trading system
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MTF systems
more to follow ...
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MA Channel Stochastic system is here.
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Ichimoku
The beginning
After