Sunday Breakout Strategy

I just realised that GoMarket has the GMT0 weekend data. GoMarket is running at GMT2.

So I modified the EA to get the previous 2 one-hour-high/low when it reached GMT2 0200

I got close to getting stopped out, but survived. Iā€™m still in the GBP/USD short trade.

close? about 20 pips away?

I can verify that it looks good and runs well on the Strategy Tester, but since I wasnā€™t going to be around this weekend I left the old version of the EA running.

No offense to your programming skills, but I wanted the EA thatā€™s proven itself over the last few weeks since I wasnā€™t going to be here to shut it off if a bug popped up. :smiley:

Iā€™ll be using your latest version this coming Sunday. :slight_smile:

My IBFX live account got 7 pips away from the SL.

The high of the 9/22 0000 candle was 1.6256, and the SL is 1.6263.

It probably wonā€™t make a difference in the long run. If thatā€™s what you want to do then I say go for it. :slight_smile:

what is the date range u run it on?

let us run this EA for a bit before we move it to the official post for them to download?

Im still in short. Would be nice to get a win soon.

Are you trading EUR/JPY? We had a win last week on that pair. :slight_smile:

ahhhh! got it, initailly i put it at the wrong place,
itā€™s 7 for me 2

Spoke too soon, short stopped and long triggered.

I (think I) know we decide whether to enter an opposite trade if the first one fails by determining a percentage of pips ā€˜usedā€™ in that weekā€™s trading but how do you calculate the amount of pips ā€˜usedā€™ after trading starts?

Is it a matter of adding up the volume on each candlestick? And is it a percentage of the ATR we use to determine TP point that we use? :confused::confused:

Itā€™s actually in my heavily commented EA:

current weekly ATR = this weekā€™s range
ATR(14) weekly = ATR for the past 14 weeks excluding the current one

if ( current weekly ATR is more than 40% of the ATR(14) weekly )
then, we do not enter any trades

Thanks - Iā€™m a newbie as my status (and no doubt questions indicate!) so my eyes sort of glaze over the EA talk :o So do the EAs automate the process of entering trades - if so I assume I have to keep my PC on?

How do I obtain the ā€˜current weekly ATRā€™ manually? Iā€™ve tried changing the properties of the weekly ATR from 14 to 0 which doesnā€™t work and I assume if I use 1 in the properties it brings up laast weekā€™s ATR

Hi phil838,

Do you think the move to breakeven in the case of GBPUSD for this week makes sense?

I am thinking of changing BE to 1/2 the range of TP

Yes, Iā€™m also a newbie, Iā€™ve only learnt how to run EA live on demo few post ago!! ahah!!

set your chart to weekly
then high bar - low bar would give u weekly

in coding, thereā€™s extra parameter called shift, when shift = 0, it means current bar, when shift = 1, it means the previous bar and so on.

for the ATR indicator, 1 means 1 period of your chart (be it weekly or 4 hourly), and shift is 0 - it means the value displayed at the corner is the current one.

Do you mean to adjust the long stop to regain the whole loss on the short?
Or adjust the long stop to just breakeven on that trade?

Either way I guess it would make sense wouldnā€™t it??

Thanks again!

The hi minus low makes sense now! :o

Your explanation of the ATR properties means alternatively I can simply change the properties of the ATR indicator to 1 to obtain this weekā€™s ATR if Iā€™m being lazy! :smiley: When I did so before your explanation, it was 260 which I thought was a tad high for only two days trading (compared to the ATR(14) of 360ish hence thinking it was the previous periodā€™s) but its now 271 which is the same as the hi minus low method!

Regarding your question about moving to BE to Phil for this weekā€™s trade, Iā€™m considering closing out the GU buy which is 100 pips up but 15 minutes ago it was 120 pips up! :mad:

But thats only my untrained two pips worth :stuck_out_tongue:

Adjust the long stop to just breakeven on that trade