The finest in trend trading

[ninety9]

dodge, somehow missed the EA and video, just watched the video now and DL EA, amazing how much work you put into it, appreciate your hard work.Thanks

[DodgeV83]

Great work Tymen, Do you think this multiple contract entry approach would work on a 4 hr or daily timeframe? I know its assumed prior to entry that one expects an imminent move in your chosen direction of trade but its a big jump going from 80-100 SL to a 20 pip SL on a 4 H timeframe for eg.? i guess we need to demo it first.
Cheers

Will it work?

Yes.

Will it be profitable in 20 pip increments?

My guess is no.

I coded the EA to allow you to change the increment pips for this very reason. There are so many factors in play:

[ul]
[li]Is it news time?
[/li][li]What time frame are you on? 30m? 4HR? Daily?
[/li][li]How volatile is the market right now? Compare how the market has been moving these last few weeks vs. a few months ago for an idea of why this matters.
[/li][li]What pair are you on?
[/li][li]What is the spread at time of entry?
[/li][li]Are you trading at London open? NY Open? Friday 2 hours before close?
[/li][li]How large is your entry candle? How long is the extreme wick? Is a 20 pip stop loss still in the body of the entry candle? Past the extreme wick?
[/li][li]How quickly was the market moving 15 minutes before entry? 1 minute before entry? 5 seconds before entry?
[/li][/ul]

I don’t believe Tymen is recommending a 20 pip stop and 20 pip increments with every trade. It’s the concept that’s important.

[Hencruz]

First a very big thank you to Mr Tymen for taking out time to teach the rest of the world. I use MT4 for trading and would appreciate it if anybody can show me how to create a 20, 40 & 50mins chart. Also since we are using multiple lot sizes, i would like to know if there is a script that can execute this kind of order just on a single click. Sorry to boarder anybody.
Cheers!!

[DodgeV83]

First a very big thank you to Mr Tymen for taking out time to teach the rest of the world. I use MT4 for trading and would appreciate it if anybody can show me how to create a 20, 40 & 50mins chart. Also since we are using multiple lot sizes, i would like to know if there is a script that can execute this kind of order just on a single click. Sorry to boarder anybody.
Cheers!!

I made a post a few hours ago which answers both of your questions:

http://forums.babypips.com/194264-post3118.html

The video up top shows an easy way to execute these trades.

The video at the bottom of the post explains how to setup the period converter, which will give you 20, 40 and 50 minute charts.

[green_as_grass]

Hey dodgeV83
Thanks for the EA,
I was a bit hesitant to try multiple lot trading manually, this should be really handy!

Important rule in forex trading…[B]Do not fall off ladders!![/B]

A definite handicap to forex trading!!

You could say I went short & hit serious resistance :rolleyes:

Ah well, at least I have another day off to study…

[nivlek78]

Dodgev83!!!

You are freaking awesome!!!
Thank you so much for the EA and video.
You have just made backtesting a breeze for me.
Been using vHands but found it rather difficult to use and almost impossible in a multiple contract strat.

One thing though…
when I set-up a sst trendline, it always becomes a market sell instead, even though I placed the trendline like 30-40 pips away.
Not sure if I am doing anything wrong.

At the risk of asking for too much, any way that you can code the EA to take the stops/increments as a % of ATR(period)?

PS: Renala, I believe the code for the EA is proprietary to Dodge. He is not obligated to provide the uncompiled source.

PPS: Was away for 2 mths and had a really hard time (took 2 weeks) catching up with all the pages on this thread and the amazing spin-off by Graviton. Must say, I now look at charts and price action really differently.

Thanks everyone involved.

[DodgeV83]

@nivlek78

One thing though…
when I set-up a sst trendline, it always becomes a market sell instead, even though I placed the trendline like 30-40 pips away.
Not sure if I am doing anything wrong.

Opps! Thanks for that! This is why I used big red letters saying not to trade this live yet

The fix is attached, let me know if you see anything else weird.

Final_Tymen.ex4.zip (32.9 KB)

[DodgeV83]

Dodgev83!!!

You are freaking awesome!!!
Thank you so much for the EA and video.
You have just made backtesting a breeze for me.

At the risk of asking for too much, any way that you can code the EA to take the stops/increments as a % of ATR(period)?

I’m glad you like it

Do you already have an indicator I can use for the ATR? This shouldn’t be difficult to implement.

[sijeeva]

Dodge
in backtesting its ok no prblm
but in demo live the trendline is triggered and a new order is placed [B]without s/l and t/p[/B] in terminal window
just a horizontal lines is drawn with ssl,ss,stp …
How will be the sl or tp will be triggered ?
pls clarify

[DodgeV83]

Dodge
in backtesting its ok no prblm
but in demo live the trendline is triggered and a new order is placed [B]without s/l and t/p[/B] in terminal window
just a horizontal lines is drawn with ssl,ss,stp …
How will be the sl or tp will be triggered ?
pls clarify

This is by design. The SL and TP are triggered by the horizontal lines. This was done to alleviate some concerns of Stop Hunting, since the broker will not know your SL. I’ve had to call a broker before to complain “Why was my stop loss hit? My chart shows the price didn’t touch it!” (and yes I am familiar with the difference between Bid and Ask lines). It wasn’t pretty.

Of course this means your computer and MT4 must be left on during the entire trade.

If it would make you more comfortable, I can add an option to make the stops real instead of hidden with horizontal lines.

[DodgeV83]

Something else I forgot to mention. The EA will send an e-mail when a trade has been made. If you want to enable this functionality, click Tools -> Options and setup your e-mail tab.

I created a free e-mail address at gmx.com, here are my settings:

Setting the e-mail address to @txt.att.net will automatically convert the e-mail into a text message sent to my phone, notifying me of the trade. Here is a list of different e-mail addresses to use based on your cell provider:

The Complete List Of Text Messaging Email Addresses | EmailTextMessages.com

[sijeeva]

This is by design. The SL and TP are triggered by the horizontal lines. This was done to alleviate some concerns of Stop Hunting, since the broker will not know your SL. I’ve had to call a broker before to complain “Why was my stop loss hit? My chart shows the price didn’t touch it!” (and yes I am familiar with the difference between Bid and Ask lines). It wasn’t pretty.

Of course this means your computer and MT4 must be left on during the entire trade.

If it would make you more comfortable, I can add an option to make the stops real instead of hidden with horizontal lines.

oh, excellent - idea of “stop hunting"
got it
"TRENDLINES” plays the role, u r using trendline as trigger nice programming,logical skill u have dodge
Thanks for ur clarification

[DodgeV83]

Hi all! Late to the thread as usual for myself… I’ve read the first 20 pages or so and I saw mention of a pdf that might consolidate what Tymen is teaching/has taught so far. Is this currently available? Thanks

They are linked on the left side of this page.

Bollinger Band DNA - FOREX Trading using the Tymen Bollinger Band Strategy

[sijeeva]

Dodge will u give a presentation on DNA method for a month (for eg GBPUSD APR 1 - 30) using “strategy tester” in WHITEBOARD
Pls send mail to merchantprince for invitation to whiteboard
any idea pls…

[nivlek78]

I’m glad you like it

Do you already have an indicator I can use for the ATR? This shouldn’t be difficult to implement.

I just use the default ATR indicator that comes with MT4.

Thanks for the fix.
Will try it tonight after work.

[nivlek78]

If it would make you more comfortable, I can add an option to make the stops real instead of hidden with horizontal lines.

That would be a good option
I am not too concerned with stop hunting.

Thanks again Dodge.

[MCAWally]

Thank you very much Dodge this is an awesome EA for back testing.
And thanks for those vids on Tymen method too, helped a lot.

[DodgeV83]

@nivlek78

That would be a good option
I am not too concerned with stop hunting.

Thanks again Dodge.

Attached is a new version of the EA. It now has a field for “HideStops”. Set this to 1 (default) for normal operation, hiding stops with trendlines.

Set this to 0 to use normal stops and not rely totally on the trendlines. Your SL and TP will be in place even if your computer loses power.

Note: Since the “TymenTakeProfit” line closes half of the initial trade, a normal TP line will not work for this. To implement this, I will have to change the way the EA works, forcing it to take two separate trades at the start instead of one trade at double the lots. Some brokers don’t like it when you make two trades at once in quick succession and might block the second order altogether. While there are ways to code around this, it’s generally safer to keep it to one trade…we’ll see what I can come up with.

Note2: You can still manually drag the TP and SL lines around. They will update the TP and SL lines for all trades on that pair.

Final_Tymen.ex4.zip (34.2 KB)

[tymen1]

[B]Wonderful[/B]!!

[B]DodgeV83 [/B]is just proving that he is a master at computer programming.

This whole trend trading method would be very much weakened without him.

I am very interested in the results of the EA, to know what pip increase, 20,25,30 etc is best.
The multiple entry method I have designed is not set in stone and modifications may be necessary.

Besides [B]Dodgev83’s [/B]powerful testing method, I also rely on [B]Graviton’s [/B]first hand experience.

[B]To DodgeV83 :[/B]

I would ask that you send a PM to [B]Merchantprince[/B], our other powerful programmer, to get an invite to the DNA whiteboard.
I have already asked that you be given Moderator status.
Your presence will be of great value there.

As for me, well, all I have done is purchased a microphone and worked for the afternoon to get the sound just right.
That is tricky for me being a computer greenie, but I managed to wade thro all the different settings and I think I have got it about right.

However, I got a problem with the Java program and have to download the latest Java all over again. (I see that the whiteboard help forum shows quite a few issues with Java).
This and an Adobe flash player update and I can return.
(after all, I am a dinosaur!!) :o :o

[tymen1]

I have accomplished my first task - to provide a multiple entry method.

I am still to do a demo on the whiteboard - that is next.

Then…the macro method which will include the Fibonacci retracement approach together with multiple entries.

I always liked my DNA method but now with complaints about losses I have modified it thus…

1. A second form of CBL with just one candle and followed by a smaller candle with a close below CBL.

2. The final decision to detail NO TRADE AREAS.

This 2nd modification renders the 1st modification obsolete.

[B]So from here on use the original CBL method …[/B]

• 2 candles if the extreme candle is the larger of the 2.
• 1 candle if the extreme candle is the smaller of the 2.
• cut the extreme candle in half if it is excessively large (touches or goes thro the mid BB).