Sunday Breakout Strategy

[phil838]

that easy~

double BoxHigh = iHigh ( xxx xxxx );
double OSPBuy = BoxHigh + pips_to_decimal(10);

double pips_to_decimal ( double pips )
{
if ( ( Digits == 5 ) || ( Digits == 3 ) ) return ( pips * 10.0 / MathPow (10, Digits) ); // 5 or 3 digits
else if ( ( Digits == 4 ) || ( Digits == 2 ) ) return ( pips / MathPow (10, Digits) ); // 4 or 2 digits
else return ( NULL );
}

Great! I’ll stick it in the code when my trades are finished.

[Nickylikessss]

Phil, is that EA good to go now?

And another question that may seem obvious, but I wanna set it up right after reading though the method. We set the +/-10 pip lines on the Sunday 20:00 candle, and then the method takes effect on all candles after that one, ie. The first candle that will indicate to trade or not is the Monday 00:00.

I’m trading with your broker, just so I see what you see.

Off-topic, I’m watching a television documentary upon 9/11, and it still to this day makes my hair stand upon end. They’re in my prayers, as are hopes I will never have to witness such horrors in my life again. It makes feel ill thinking about major warfare…

[phil838]

Phil, is that EA good to go now?

And another question that may seem obvious, but I wanna set it up right after reading though the method. We set the +/-10 pip lines on the Sunday 20:00 candle, and then the method takes effect on all candles after that one, ie. The first candle that will indicate to trade or not is the Monday 00:00.

I’m trading with your broker, just so I see what you see.

Off-topic, I’m watching a television documentary upon 9/11, and it still to this day makes my hair stand upon end. They’re in my prayers, as are hopes I will never have to witness such horrors in my life again. It makes feel ill thinking about major warfare…

The EA is working perfectly now, but I still have one trade open and one pending on the EUR/JPY experiement. After they close I’ll post the EA up here, unless there’s some unforeseen problem with it that shows up in next few hours.

If I do it now it will reset the EA and mess up my trades.

And yes, the first candle that’s tradeable is the Monday 00:00 4H candle. The first candle to move above the Sunday candle +10 line after Monday 00:00 triggers the long trade, and the opposite for the short trade.

[mumpips]

Lots of people have moving averages and indicators to tell when the market is ranging, but I take a simpler approach.

Zoom your charts out as far as they will go. If the price is just sitting around and not really going anywhere then the market is ranging.

I see. so, the current mkt is ranging. Pls correct me if i am wrong, the approach for this sunday breakout will be the same and no change even is in ranging period. Long term results will cover what we lose in ranging mkt, that’s the beauty of this strategy, right?

[s050399b]

Great! I’ll stick it in the code when my trades are finished.

remember to put in as 10.0 instead of 10, or else it will not compute

[phil838]

I see. so, the current mkt is ranging. Pls correct me if i am wrong, the approach for this sunday breakout will be the same and no change even is in ranging period. Long term results will cover what we lose in ranging mkt, that’s the beauty of this strategy, right?

Correct… sort of.

We won’t actually be losing during a ranging market, we’ll just make less or end up somewhere around breakeven.

The markets have been ranging for the last 3 months, but if you traded this every week during that time you should have made money… a least I have, and I missed a couple winning weeks

As long as you’ve been around you should have a profit, unless your money management is off or you’re closing trades early or something…

[mumpips]

Correct… sort of.

We won’t actually be losing during a ranging market, we’ll just make less or end up somewhere around breakeven.

The markets have been ranging for the last 3 months, but if you traded this every week during that time you should have made money… a least I have, and I missed a couple winning weeks

As long as you’ve been around you should have a profit, unless your money management is off or you’re closing trades early or something…

Ya, i made some during the good time…just want to make sure I have the right thinking for future trades. thanks:)

[Azy]

Hi,

I noticed that last 3 sundays were loosers so its like 6 lossess. but this is normal in this system due to very high win/loss ratio… d highest loosing streak has been 7 or 8 I guess and v will stop only if godforbid its more than 10 lossess in a row. plz correct me if i m wrong.

Azy

[phil838]

Hi,

I noticed that last 3 sundays were loosers so its like 6 lossess. but this is normal in this system due to very high win/loss ratio… d highest loosing streak has been 7 or 8 I guess and v will stop only if godforbid its more than 10 lossess in a row. plz correct me if i m wrong.

Azy

I don’t think I would [I]automatically [/I]stop trading the system if there were 10 losers in a row, but I would start looking to see what was wrong and figure out if I [I]needed [/I]to stop.

Also, the last 3 Sundays have not all been losers. The week of Aug 23 was a winner according to IBFX, which is the broker I keep the “official” records with. Other people may have gotten stopped out by a pip or two, but IBFX traders should have won the second trade, avoiding the SL by 2 pips.

[phil838]

Here is the EA I’ve developed, using s05’s indicator code.

Please be careful with this. I’m not a professional programmer so test it out on a demo account or reduce the risk to .0001% or some other really small number until we are sure it works.

I couldn’t get the timezone offset or the 4/5 decimal detection to work right, so I’m posting it as-is. Hopefully s05 or someone else can fix those problems, since I’ve included the source code.

This works perfectly on my IBFX live account, but I haven’t testing it on any other brokers. If your broker is not using GMT time and is not using 4 decimals I can promise it will not work!

But like I said, I’m sure someone will fix that (hint, hint).

Also, remember this is not a completely automated robot. You have to watch the charts and turn it off if you don’t want the second trade to trigger.

EDIT: I put the wrong EA in this zip file at first. If you downloaded the EA for GBP/JPY delete it. It was for testing only and I didn’t mean to post it. If you use it you will lose money!!!

Sunday Breakout EA.zip (19.3 KB)

[ridedivefx]

Phil, I have been following your thread for a while but never asked anything as all my questions were answered in detailed

My first Q to you: The EA you posted is for EURJPY and GBPJPY will any of these also run onthe GBPUSD? or are you posting another one for that - just confused

thanks

[phil838]

Phil, I have been following your thread for a while but never asked anything as all my questions were answered in detailed

My first Q to you: The EA you posted is for EURJPY and GBPJPY will any of these also run onthe GBPUSD? or are you posting another one for that - just confused

thanks

Oops… My mistake.

The GBP/JPY was for testing only. I abandoned it and moved to EUR/JPY a long time ago. I put it in there instead of GBP/USD by accident.

I’m editing the post and putting up the correct EAs now. Whatever you do don’t use that GBP/JPY EA!!! It will lose money, if it even works…

[phil838]

The correct EAs are up now, I edited the post where I originally uploaded them.

[ridedivefx]

The correct EAs are up now, I edited the post where I originally uploaded them.

thanks much appreciated

[Oskar]

Thanks Phil.
DL it from your first post, hope it is the one, unless you posted it somewhere else.

[phil838]

Thanks Phil.
DL it from your first post, hope it is the one, unless you posted it somewhere else.

It’s on post #970. Here’s a link…301 Moved Permanently

I’m not putting it up on the first post until I’m sure it works without errors.

If I put it on the first post I’m scared newbies will grab it without reading our ongoing discussions and then start complaining because they lost money.

So just in case anyone hasn’t gotten the message yet, don’t use the EA on a live account yet!!! Let’s all demo (or .01 lot live trade) it for a couple weeks to work out the bugs, then we’ll use it on real money.

[s050399b]

I couldn’t get the timezone offset or the 4/5 decimal detection to work right, so I’m posting it as-is. Hopefully s05 or someone else can fix those problems, since I’ve included the source code.

I’ll take a look at it,

[s050399b]

if (DayOfWeek() == 1 && TimeHour(TimeCurrent()) == 0 && TimeMinute(TimeCurrent()) == 0)

Wow!! this is a better way of writing it!!
I learnt something!

[s050399b]

Well done phil838!! Everything looks great!!

btw, there’s no need for magic number because we have keep track of the order ticket number!!

What I can suggest is that to:-

1. remove unneccessary code
2. heavily comment the code
3. putting in more checks to handle user errors; example, 0.02 or 2%, checking lot size is reasonable, etc…more like unit test the code
4. remove opposite pending order when current ATR is 40% of weekly 14 ATR
5. remove opposite pending order when it has reached wednesday
6. GMT Offset
7. 4 digit to 5 digit broker conversion

[s050399b]

Hi phil838,

When do we move the SL to BE for EURJPY?