Sunday Breakout Strategy

[tonymand]

there have been close shaves on this strategy, for example, the one on 11/8 would be a double loss, not 6+R, because the price spiked to stop me out at candle high by 1 pip (i grumbed about this then on this thread). you can see if if you go down to 5mins.

And for this week’s trade, some folks were stopped out, asyou rightly mentioned and I was saved by the skin of my tooth by 1.2 pips. folks who didn’t get these two trades would be missing the 9R.

Absolutely pirateboy. As Phil says this should all even itself out in the long run. My ATR runs consistently higher than most others posted on the thread which means longer to my TP so no doubt I will miss on those that others get. I am trialling a variation of this and when I have 5 months or so data I will post if it looks promising. My reason for putting the results up is to simply emphasise that the approach is working despite extremely challenging trading conditons

[pirateboy]

everyone wants a quick buck. nothing draws more people who want a quick buck than currency trading.

Oh boy Phil, you’re gonna pocket a tidy sum!

I agree! Trading is 80% money management and controlling emotions, and only about 20% actually knowing when to place the trades.

[pirateboy]

if this EA works and Strategy Tester runs, it will be bittersweet. Bitter because I spent hours on end verifying Phil’s results (GGGrrr!!). Sweet because I can Strategy Test on different platforms. :rolleyes:

Thanks S05…

When I tried to attach it too my chart I got a “Expert ‘H4 Sunday Breakout’ is an indicator and cannot be executed” error.

I removed the top line from the EA (#property indicator_chart_window) and it attaches just fine now!

[gif]

could you show me a piece of code which make use of the flags?

Will you publish your code?

Its more simple than it looks! (all this flag thing)

its true you could go throw all your orders and check wich ones are over some profit and if so close them or vice versa. those are logic orders!
Metatrader flags are what we all call TP/SL limits into an opened order.
the diference is metatrader is always up to data and is not susceptible by lag but rather susceptible by Slippage! logic orders are afected by lag and is only bad to use them IF your counting in market situations that you need precise exits.

I will publish my code on the agreement that no one will change it without telling me and no one will sell it on ebay…

I may has well send you the code since i believe i can trust you will not do the things above… Its up to you.

[gif]

Are you saying that it’s possible to program to read data from IBFX demo and throw orders at another MT4 broker account?

I find that some MT4 brokers don’t have weekend prices…

Of course you can do that! it takes abit more work, we will ahev to use a dll for data connection but it is possible. we can get same values from IBFx for orders to any broker at all.

[gif]

there have been close shaves on this strategy, for example, the one on 11/8 would be a double loss, not 6+R, because the price spiked to stop me out at candle high by 1 pip (i grumbed about this then on this thread). you can see if if you go down to 5mins.

And for this week’s trade, some folks were stopped out, asyou rightly mentioned and I was saved by the skin of my tooth by 1.2 pips. folks who didn’t get these two trades would be missing the 9R.

hehehe Nice you took a perfect example of what a logic flag is. it happened this week that some people were stoped even thow their charts dont say the price clossed the supposed SL. its because in the server in some brokers the price crossed it but the metatrader didnt actualy update the chart, so those that used sl probably were screwed big time… but those that used an ea with logics didnt… because on chart the price didnt really cross the intended sl number. so no condition - no close. hope this clears doubts

[01005379]

Hi guys! This system has been very profitable for me so I thought I’d share it.

I’ve traded this live since late 2008, and I’ve also backtested it manually from Oct. 2004 (as far back as my charts go) to the present day and it has remained profitable all 5 years!!

[B]The Sunday Breakout Strategy[/B]

Pair: GBP/USD
Timeframe: 4 hour
Indicators: An ATR(14) on the WEEKLY chart, or use the attached indicator on your 4H chart.

Your broker’s charts MUST include the Sunday 20:00GMT candle for this system to work. Some broker’s don’t put this candle on their charts so make sure yours does! If not use an IBFX demo account, they include the Sunday candle and the demo never expires.

Find the Sunday candle:

• On a 4H chart find the high and low of the Sunday candle. If you’re backtesting and using MetaTrader turn on the Period Seperator to make finding it easier. Draw a line 10 pips above the high and 10 pips below the low.

Entry:

• Go long on upper break of the line.
• Go short on lower break of the line.

SL:

• For long trades the SL is the Sunday candle low.
• For short trades the SL is the Sunday candle high.
• Set SL to break even once your profit has reached 2x your stoploss.

TP:

• Your TP is � of the weekly ATR(14).

That’s it! A simple system that only takes 10 minutes per week to manage!!

I’ve gotten 1448 pips using the strategy since I started, and backtesting shows a gain of 7907 pips since Oct. 2004. If you actively manage your trades with some S+R lines, trendlines, and price action you could probably make a lot more than that! I’ve included an excel file with my backtesting results and money management projections.

EDIT: s050399b has made an excellent indicator for this system that computes all the entries, stoplosses, etc. You can find the latest version on this post.

Hello phil838!

How do you calculate TP?
If ATR(14)=5018, then TP=250, because ATR/2=2509 and you round TP to 250. Is this correct?

Thanks!

[gif]

It depends on what your’re asking. They don’t [I]have [/I]to be pending orders, but the EA would have to be watching for both the long and short orders at the same time, no matter if they are pending order set up in advance or market orders that trigger when price crosses the entry point.

the thing is pendings need certain space to e opened before time, and the others would “never” be opened at the right price. its a matter of the precision. anyway this year backtest shows nice profit, im gonna finish the module so that every one can use in any broker and post the ea.

[phil838]

Hello phil838!

How do you calculate TP?
If ATR(14)=5018, then TP=250, because ATR/2=2509 and you round TP to 250. Is this correct?

Thanks!

You got it!

I think it’s the 5th decimal in that screnshot that throws people off.

[gif]

OK heres a backtest from 2005 to 2009. (pick these because my computer takes time to process stuff xD, and not because one year before it would fail)

keep in mind that these spikes are due to lots based on balance. By my personal expirience i can really say this is good strategy, and i tested/coded countless bots.

[phil838]

OK heres a backtest from 2005 to 2009. (pick these because my computer takes time to process stuff xD, and not because one year before it would fail)

keep in mind that these spikes are due to lots based on balance. By my personal expirience i can really say this is good strategy, and i tested/coded countless bots.

Excellent work, Gif! I’m going to put this side-by-side to my manual backtesting results and see how they compare.

Not that I doubt your programming skills! It’s MT4’s backtesting skills that I doubt…

[Rei]

hi Rei, how’s the performance off G/J, did you do a backtest like Phil on G/J?

I have no idea. I didnt do a back test. The recent wins in GBP USD have been mirrored in GBP JPY. I dont think it would be all that different to GBP USD. I figure that you could take any decent strategy and, as long as you stick to your rules and money management and occasionally reassess, it should work out fine in the long run.

[Rei]

Absolutely pirateboy. As Phil says this should all even itself out in the long run. My ATR runs consistently higher than most others posted on the thread which means longer to my TP so no doubt I will miss on those that others get. I am trialling a variation of this and when I have 5 months or so data I will post if it looks promising. My reason for putting the results up is to simply emphasise that the approach is working despite extremely challenging trading conditons

It sounds like you are on IGmarkets?
What I have done to compensate is take 45% of my ATR instead of 50%.

[01005379]

I have another question.
When I put Weekly ATR indicator in the chart and I have options x_adjust, y_adjust, email and sound, what are x_adjust and y_adjust numbers?

[s050399b]

I don’t want to risk screwing up my data so I’ll install a separate copy of MT4 later, build the data from scratch, and test it. I’m working on video stuff right now but I’ll get around to it later if no one else beats me to it.

Hi phil838,

When u have figured out how to use it, could you detail the steps? I have no idea how to use the EA or strategy tester thingy…embrassed

[s050399b]

if this EA works and Strategy Tester runs, it will be bittersweet. Bitter because I spent hours on end verifying Phil’s results (GGGrrr!!). Sweet because I can Strategy Test on different platforms. :rolleyes:

Thanks S05…

if u finally get these code to work, could u publish detailed steps? I have never used an EA or strategy tester before…

[s050399b]

Of course you can do that! it takes abit more work, we will ahev to use a dll for data connection but it is possible. we can get same values from IBFx for orders to any broker at all.

Please show me how to write dll…

[s050399b]

I may has well send you the code since i believe i can trust you will not do the things above… Its up to you.

Please send me the code if possible, i want to learn how to write good code to send orders, and error precautions…

[phil838]

OK heres a backtest from 2005 to 2009. (pick these because my computer takes time to process stuff xD, and not because one year before it would fail)

keep in mind that these spikes are due to lots based on balance. By my personal expirience i can really say this is good strategy, and i tested/coded countless bots.

There’s something wrong with the EA… Check out Dec 17, 2007. It opened a sell position on Friday, held it over the weekend, then closed it for profit on Monday.

Also, if the first trade of the week is a winner it needs to cancel the pending second trade.

That being said, I’ve compared the results from my backtesting and the EA’s test for all of 2007 (I just picked a year at random) and Dec 17 is the only time it showed a winner and I showed a loss. There were, however, a lot of times I recorded a win and it had a loss…

Even though it’s not perfected yet it’s still looking to be a good EA when it’s done!

[s050399b]

the thing is pendings need certain space to e opened before time, and the others would “never” be opened at the right price. its a matter of the precision. anyway this year backtest shows nice profit, im gonna finish the module so that every one can use in any broker and post the ea.

Hi gif,

Could you help to check my code if I got anything wrong or weird going on? It’s my first time trying to try code that sends orders, so not sure if i’m doing the right way. It compiles ok though.