Simple & almost naked. The dream date or the dream system?

[blizard]

Here is a nice entry using the ZZ_v0.11.

[stockneon]

thanks guys!

i made some improvements on it, will post it later, it draws the arrows automatically on signals. plan to do an alert also, but i’m stuck now with a breaking pips distance for the signals.

[sandybeach]

Thanks for the hard work Stockneon, don’t forget to include your credits in your EA Once you post your new updated one later i’ll give it another round of testing and let you know how i get on

Seriously though go get a beer you desrve it

[stockneon]

lol i received a text message that we should go to drink something damn!

now on the system, not the ea thing. i entered a long trade on eurusd just before Blizard went short on the pic he attached. it was just above todays S2 line and 1.3200, the chart looked like it’s time to turn and break the rally down. i was wrong. so the question … how do you guys filter the bad trades??? any advice? i know i know, go with the trend … but some exact rules that we should add to the system?

thanks!

[sandybeach]

Here is a nice entry using the ZZ_v0.11.

PS im refering to post 141

Hey lizard this trade seems to go against the rules, unless im missing something the current dot (light blue) is on the bottom so you normally only use the top trend line (connected by the dark blue dot) but it looks like our selling when the trend line created by the 2 light blue dots is used to sell, is this right?

I can’t figure out how you sold at this trade as this trade goes against all the others i have seen you do in your screenshots?

Cheers

[sandybeach]

I guess one way is to close the trade when the next dot appears? Its one way to exit?

Not too sure about the fake outs. Maybe there is another indicator we can use?

[blizard]

Hello, the current light blue do you see is not confirmed yet as it must be followed by a dark blue dot so we cannot draw the trend-line. I would also suggest closing the current trade if a new trade is triggered in the opposite direction. We need to let profits ride while cutting losses tight.

[sandybeach]

Thanks Blizard, how many days back do you go on the autodayfibs indicator?

Thanks

[blizard]

The auto-daily automatically updates at the beginning of the Asian secession at 7pm EST for me.

[stockneon]

made some progress on the ea

• it opens one trade / trendline
• long/short enable/disable
• hedging enable/disable
• trendline break pips
• stop loss is the previous dot ± adjustable sl pips
• default tp
• alert on signals enable/disable
• it draws arrows on signals
• if hedging is off, it closes a trade when there is an opposit signal
• fixed lot / risk based lot

ZZ_v0.2.zip (2.25 KB)

CHECK THE SETTINGS BEFORE USE THE EA CAREFULLY!!! I think i’ll set the trade long/short settings to false by default. You should pick the trades you want to play, this is not an EA that you can put on the chart and leave it be!!!

please test it on backtest and in live trading. i hope that there’s just a few bugs in it

what other things should i code in it?

[sandybeach]

Awesome work Stockneon, i would only recommend at the moment documenting the configuration bits a little to avoid everyone asking you what does what etc. Would just save your time

Plus i would recommend changing the top part of your document to the following:

//±-----------------------------------------------------------------+
//| ZZ.mq4 |
//| Version 0.2 |
//| |
//±-----------------------------------------------------------------+

// Draws arrows on trades
// Opens one trade per trend line

#property copyright “Stockneon”
#property link “http://forums.babypips.com/free-forex-trading-systems/42750-simple-almost-naked-dream-date-dream-system-15.html”

extern int min_bars=3;
extern bool trade_long=1; // 0 = Disable / 1 = Enable
extern bool trade_short=1; // 0 = Disable / 1 = Enable
extern bool risk_based=0; // 0 = Disable / 1 = Enable
extern double risk=0.1;
extern double lot_size=0.01;
extern bool hedging=0; // 0 = Disable / 1 = Enable / if hedging is off, it closes a trade when there is an opposit signal
extern double break_pips=2; // Trendline Break Pips
extern double sl_pips=2; // Stop Loss is the previous dot ± adjustable sl pips
extern double default_tp=20; // Manually Set
extern bool alert=0; // 0 = Disable / 1 = Enable
extern int magic=8227;

I changed some of the defaults to lower values and just added some notes, but this is my thoughts.

Also could we have the EA write a comment like

“ZZ - EA Long”
“ZZ - EA Short”

If a trade is made by the EA?

Great work will test it automatically and manually monday.

I guess you could have the EA only show one trend line rather than both based on what colour the last dot was?

Does the EA place a buy/sell order when the trend line crosses the price?

Heya Stockneon unless im reading this wrong but in this screenshot shouldn’t the red arrow pointing down be pointing upwards ?

But from what i can see on the backtest all the other arrows appear in the correct place. Might just be backtesting being screwey though rather than your coding, as your trendlines do look good.

[stockneon]

thanks for the comments, i’ll correct things today and post the new ea. i want to use it tomorrow on live, so i should hurry

about the image … price went below the bottom line, not above the top, so that’s why a short trade opened. nice screenshot btw, these are the situations, that you have to filter out yourself. in this case the to trendlines are forming a rising wedge, which is a trend continuation signal, so price will go up. okay, not every time!!! as you can see the entry price is above the upper trendlines second (right) point, so it’s strange. i wonder, what should i do? is this not a valid signal? if it’s not it can be easily filtered out in the ea.

[sandybeach]

It would seem to be a valid signal, on the backtest letting the EA run automatically it is a loss, but when i watch it it would work if trading manually.

There might be a correlation with the previous highs and lows to suggest if the current entry will produce a good run of pips?

Or maybe combining it with something like StochRSI for confirmation? Im not too sure about this.

[blizard]

Great job Stock, cant wait to try it out!

[sandybeach]

What about if we had the option to set the start and end hours of the EA?

This might increase the rate of EA running on auto-pilot having more positive trades?

Such as if we are only trading EUR/USD and GBP/USD like Blizard and for me best trading hours would be 0700 - 2200 GMT+0?

I came across this indicator

forex_ news_market_clock.zip (12.3 KB)

This is how it looks. Well it would show news if it were not sunday lol.

Just an idea but this might be relevent for Blizard and Stockneon’s EA’s. If you can take apart the attached indicator what about setting your EA’s not to trade say 10 mins before a major news event ?

What about using the code from this indicator so we have an option not to trade say 10 mins before and after low, medium and high news?

Maybe configurable options like:

trade_time_mins=10 // number of minutes before a news event when EA will not trade and number of minutes after a news event when it will trade again.
trade_news_low=0 or 1
trade_news_medium=0 or 1
trade_news_high=0 or 1

By having the choice of low, medium and high some traders may prefer no trading before any news and those that prefer more risk may go for just high or not at all.

Might help to cut down on fake-outs when trading automatically.

[sandybeach]

Blizard (any anyone else) from your experience with this strategy are there any additional indicators which might increase the accuracy of stockneon’s EA when running on auto-pilot?

Also Stockneon I was running your EA on backtest for 24th Feb 2012, between 03:22 and 10:43, whats odd is if i did all the trades manually i would of had a 100% success rate with the trades indicated in the right place on the chart. So done manually the EA works fine, but automatically the EA fails. Im not sure if this is just the backtest in MT4 being rubbish as its not too reliable.

Once i get your updated EA Stockneon i’ll run it all of tomorrow on my hotforex demo account and post the results in the evenning.

Thanks for the hard work !!

Definitely works well in manual mode

We just need to give it a good run tomorrow

[stockneon]

update! i think that’s it … we should give it a try. but be very careful with it!! don’t run on autopilot

trendline color shows where the ea is allowed to go. green means okay, orange is not allowed.
i added a smart_exit function. this means when there is an opposite signal, the trade will closed.
i commented every parameter in the ea, hope that helps, if not, ask and i will answer everything.

here, download it, i’m very excited how well we can do with this tool

ZZ_v0.21.zip (3.05 KB)

as for the news stuff, i recommend use the indicator above for tomorrow. if it makes any sense using it, i’ll try to code it in the ea, but as i said, i’m not trying to make an autobot out of this.

okay, now on the environment of using this stuff. i bet if i use profiles per currency pair, the ea doesn’t opens position, only on the current profile, so what do you think? how should we use it? i think i’ll try this way: i will use one metatrader to look at different pairs multiple timeframes with the profile i showed earlier and one metatrader to attach the ea to m1 charts in one profile that i think i can trade with success. i plan to do this because i’ll scan 10-15 pairs.
any other ideas?

thanks guys!

[sandybeach]

Cool thanks, just took a quick look over the EA, perfect, your documentation should help to avoid lots of questions, but i would recommend putting your name on it, as it is your work.

One suggestion why not have the trend lines have either

• Short Trade
• Long Trade

Next to the trend line to make it clearer to the user?

From what i can tell under M1 if trading this manually this EA is the perfect addition to this strategy but i am with you Stockneon i do plan to follow the following pairs:

EUR/USD
GBP/USD
AUD/USD
USD/CAD
USD/JPY

From 1800 - 2200 on M1, only as i work during the day. But this strategy does look good to follow on any timeframe, i can’t find any fault with it.

Thanks for the hard work Stockneon. Out of interest how long did it take you to make this EA and did you find it hard? Looks complex, i have experience in programming for other languages so i’ll try to get into MT4 at somepoint.

Thanks

[stockneon]

no it wasn’t a hard thing to put together, i copied some codes from here and there, the position closing scripts, the risk to lot calculation. if you have experience with other languages, especially c++ you should be fine.

i don’t think it’s really necessary to write text on the chart, i like to keep my charts minimal and clean. also i think that just 3 people watch this topic where are the others? so i think that we can see the trendlines correctly.

okay, good luck to you guys for tomorrow!! may the force be with us!!! i’m going to work on another ea template that i promised will be done by tomorrow.haha so much work

[sandybeach]

Lol thanks, im not really a C++ coder specifically, my coding experience is in PHP, SQL primarily. thanks for that.

I kinda agree the minimal thing is best, was just curious on your opinion, what you have done is great, we can overlay other indicators ontop to suit our own personal trading style, but i just don’t think its nessasary this is such a simple system.

It does seem its only like 3 of us here, but hey maybe were get some more responses from others testing it.

Good luck on your other work thanks for what you have done on this EA, i really appreciate it !!

Will let you know how i get on