Did anyone make 100 pips or more on the weekly crossover?
Personally, I would like put the effort into finding out how to make this work better for me rather than having this thread be a battleground. If someone can offer suggestions on how to trade the weekly crossover more profitably, I am all for it. I can see with my own eyes there is money to be made on this trade.
Those that put down this and other methods are distractions. Remember, when you were back in grade school, there was always someone trying to distract the class and cause problems for the teacher, wasn’t there? This site is for adults and we should all act like adults instead of class clowns.
Nope, did you? Can you post them?
An excellent post J. This strategy works and I have to find a better way to enter even though I have had some nice winners. My D. close/open is 4 p.m. - the good news is that I have plenty of time to study the pairs as virtually nothing is happening. That’s the bad news too, 4-5 hours before the action starts. I do double check later in the evening which helps. So far I have used a 15 pip Stop order beyond the W. in the direction of the D. open. If anyone would like to suggest any thing else, please do. I do so much better with this strategy than with D. pin bar reversals. d.
Would be nice to be a shark for once lol
That’s a little harsh calling it a joke lol. The two lines were never presented to give us a free way ticket to the bank vault (at least I hope not); the system works more as a rookie-friendly approach that highlights the daily/weekly cross as an easily identifiable entry point presented with an additional emphasis on trade management (although it’s not exactly too definitive about trade management after entry but that’s the beauty of reinforcing open-ended flexibility - the system can never go wrong but you certainly can lol). While the daily/weekly open cross may appear to be a weak S/R line when traded with strict target profits and stop losses you’d have test it with a trailed target profit to really capture the potential of it as a fulcrum/marker of momentum or dominant flow as put in the ATT threads. (To test the other filter, the ‘on sale’ factor which is pretty much exchangeable with a weekly oversold indicator you’d have to code an aesthetic touch into a pre-requisite first because that wasn’t really strictly defined either).
Well I can see where you’re coming from - here is a system advocating a rule to trade the cross of the weekly to daily flow usually in a long direction, whose presenter and supporters abhor and even dismiss technical indicators as useless but when put to rigid backtesting fails in comparison to a technical indicator. So you’d be thinking then what’s the whole point of the daily/weekly open in the first place, why not a different line, why not the technical indicator that produces better results when backtested since you could essentially replace the original method of daily/weekly cross with the technical indicator cross using the same vague money management principles and you’d get even better results (then some guy pulls a meaningless argument involving ‘iceberg’ out of nowhere and accuses you of living in cuckoo land). I guess my response would be technical indicators are hard to calibrate to get right, and the daily/weekly line is probably one of the easiest lines for a beginner to identify? Less open to interpretation if the rule to trade the immediate cross is set. Other than that I’m a little stumped myself lol.
Always gotta admire people who aren’t in a hurry to throw away their money, I wish I was one of them when I first started out. Looking forward to more of the backtesting
Well, I like to stick with my human imperfection. As long as my ego is not in the way, lol. I do not guess, it is easy to be a shark either. It’s the same issue if you are herring, human or shark: If you want anybody to be what you are not, plenty of issues develop. Well, to be honest, my ego is in the way also sometimes. We are humans, not machines. That’s why I prefer trading with an EA.
That’s a little harsh calling it a joke lol.
Well, if reality and truth is harsh, that is not my fault. I would not even call it harsh, as reality is a nice one, if you know what you have to deal with. Go try a bank or serious investor to find investing a real and not demo penny in a “business” like forex “store”. If you find one with a mag glass, please keep me up to date. You want me to start being harsh? @#$@$@$%#$%! 
Just kidding … 
… So you’d be thinking then what’s the whole point of the daily/weekly open in the first place, why not a different line, why not the technical indicator that produces better results when backtested since you could essentially replace the original method of daily/weekly cross with the technical indicator cross using the same vague money management principles and you’d get even better results …
Exactly. More exactly: If a signal entry is not better than a flipping coin or my room temperature, I could also take my room temperature or a random function for my EA. Even more exactly: If you have an entry which is not better than 50:50 it is like going to Las Vegas and try a strat there with black and red or pair impair or whatever you like. That doesn’t say it can’t make money in the short or medium run or there is something wrong in general with gambling. It just says that it is a gambling strat then and has nothing to do anymore with investment like I do. Plus it says, that you could drop your entry signal, as it has NO relevance for the trade. You could also let a monkey set up the order price.
Always gotta admire people who aren’t in a hurry to throw away their money, I wish I was one of them when I first started out. Looking forward to more of the backtesting
Well, that’s why I am a winner and not a loser: I know that >95% are losers. I know that those people are throwing their beliefs here into the forums. So, if I stay away from the beliefs of them, I have a chance. Not a warranty, but a chance. If I stick with their beliefs, I have NO chance in the long run.
Letz be honest: 95% are gamblers with no money but a huge pack of illusions. Everybody of them wants to beat the casino with that. What do you guess will be the outcome?
I am outta here, because this is not going to be profitable in either way. Usually I call me misanthropic, but sometimes my small heart beats that. So, here do whoever whatever with the code of this forexstore EA source code. Just my last suggestion: Nobody will go nowhere with a SL of 10, 20, 50 or even 100 pips with EURUSD pair. 
All of my EAs show me one thing: under 150 pip NO way in the long run to become profitable. The noise is just to high.
Have fun and happy trading all! 
Some mentions for the source: I will give NO support. It runs currently only in the long mode. I checked the short mode also and there was no general difference, but as I changed it in between to other entry signals, you would have to change the code if you want it trade in the short mode also. Like it is now it runs and was checked with the standard settings.
Last one for Shr1k here:
Human traders do a lot and 95% lose. A few traders use not only monkey signals but fundamental signals. Think about it. My EAs are not better than with a 50:50 signal and are profitable in backtest, but I KNOW when to use them and when I have to park them and my money pockets in my garage. Xtraction in the first run was right in my opinion: Illusions get place if you only trade on technical indicators. The issue is: He is doing the same. Trading based on an entry signal which is not better than trading via room temperature. You can try it with the source now. That doesn’t mean you can not be profitable. It just means, you are not profitable based on the entry signal in the long run, because that shows a 2 year loss. If you get it profitable, then because of a gambling system. But not based on the entry signal. Is it not exactly that, what you mentioned above? Full stop.
forexstoreEA.zip (2.08 KB)
Exactly. More exactly: If a signal entry is not better than a flipping coin or my room temperature, I could also take my room temperature or a random function for my EA. Even more exactly: If you have an entry which is not better than 50:50 it is like going to Las Vegas and try a strat there with black and red or pair impair or whatever you like. That doesn’t say it can’t make money in the short or medium run or there is something wrong in general with gambling. It just says that it is a gambling strat then and has nothing to do anymore with investment like I do. Plus it says, that you could drop your entry signal, as it has NO relevance for the trade. You could also let a monkey set up the order price.
Why not take a system that has a 50/50 outcome (if outcome is based on a predetermined SL,TP) That seems to be the case with this forex store strat. Then code an EA that focuses on trade management, keeping an open trades making the most profit possible. That seem to be what the human traders are doing.
Aha I guess what’s harsher is emptying your trading account over a bad system/signal. Or if your money management is up to scratch just never really getting anywhere after x% drawdown.
If 12 monkeys can produce a script of hamlet imagine what they could do hitting buy/sell buttons
I am outta here, because this is not going to be profitable in either way. Usually I call me misanthropic, but sometimes my small heart beats that. So, here do whoever whatever with the code of this forexstore EA source code. Just my last suggestion: Nobody will go nowhere with a SL of 10, 20, 50 or even 100 pips with EURUSD pair.
All of my EAs show me one thing: under 150 pip NO way in the long run to become profitable. The noise is just to high.
Starting to see a great deal of anti short scalping sort of findings around here, hard thing is just trying to come up with decent signal (any sort of PA-wise) that gives a higher odds of guaranteeing it
I wouldn’t put it like that but I couldn’t agree more that you can fool yourself into trading poorly covering your screen with technical indicators but you can also fool yourself into doing just as badly by stripping them away and using a line instead. The open line itself may not be an illusion but the act of trading it for profit can be as illusional as some people make technical indicators out to be - if it isn’t managed correctly. That sort of variable makes it hard to verify by an EA or anyone lol, here we got a system that always works.
What’s worse is telling people that they should throw something out calling it illusionary, complex & useless and advocating that they replacing it with something else under the assumption of simplicity due to its features being simple - but then it turns out that the process of application actually ends up being more complex with the flexibility/freedom in management which AREN’T strictly defined and exceptions involved and overall results are just plain inefficient. Not to mention coarsely reiterating that the rules are simple and trading is simple when asked for an explanation, posting potential successes in retrospect etc. I can think of people mistaking simple for easy, just a thought. Not to say it’s been done here, was only describing a worse case scenario so to speak.
Tested your EA and it becomes clear your EA enters at daily and not weekly opens.
It should be trading the cross of the weekly open, not daily opens.
Anyway, any signal, should not be taken by itself but used as a confirmation/indication in confirmation with other stuff.
Just my thoughts.
How does that look like to you?
—snip—
Daynow = TimeDayOfWeek(TimeCurrent());
Weekopen = Open[Daynow-1];
…
bool longok() {
return((Dayopen+Discount)<Weekopen);
—snap—
Says it all. It just checks the daily open, too. To be sure the price is below the weekly open. If the daily open is below weekly open the stopbuy order is set. Executes if the price crosses the weekly open.
Checked that by backtest execution chart as well.
What does “clear” mean? Can you define that any more in detail?
Have fun! 
the more I test the EA in visual mode…the more I see it make trades that makes no sense…even if you strictly take only the signals.
I am no programmer…I am just running your EA in visual mode, It does not trade the cross of Weekly open, period.
Furthermore, I have no idea why it keeps entering trades further and further from the Daily open.
Are you sure your weeklyopen is done correctly?
Weekopen = Open[Daynow-1];
That looks like to me if it is Wed, the WeekOpen is open of Tues.
Then again, I am no programmer.
FYI, I have spent 6 real hours doing it slowly in visual mode and checking every single trade it takes.
Just reporting what i observe.
Well, it definitely buys on weekly open and NOT daily open. What you assumed is wrong. Can you read code? Look above!
As I said, no support. Just to tell you: Here I backtested it and it worked. I mean, it is doing what it should do. There is nothing complicated in the code. Very simple to understand. I do much more complicated code usually. 
If you have issues around, that is probably related then to your computer (virus?), MT4, settings or whatever.
Plus as you have the source, you may modulate that to your needs. Show us an EA working like the simple strat and making money over two year. Would bet 10 pips against! 
[B]Absolutely sure![/B]
Daynow = 3 = Wednesday
Daynow-1 = 2
Open[2] = 2 days back = monday open aka weekly open with alpari uk.
Daynow = 5 = Friday
Daynow-1 = 4
Open[4] = 4 days back = monday
Any more examples needed? :rolleyes:
For the record, I had backtested Xtraction’s strat using the LFH simulator (tick by tick and manually entering trades, not the auto crap or candle by candle F12 crap) for the period Aug-Nov 2009. Took me 12 hrs over the Christmas week.
Can’t remember the % gain over the 4 mths (definitely less than 5%) but it was definitely positive.
That was strictly taking the signal by itself, which has too much noise if you ask me.
My own real trading with this, abeit only since Dec (merged with my own “embellishments” to it) has been 2%/week, which is better than the results I got before it…so xtraction has helped improve my results…for which I am grateful).
That is why I was surprised by your EA results but kept silent since you seemed rather adament about it and it was too heated too.
I never liked arguing…why waste the energy?
When you posted your EA, I could not resist spending my free time today actually checking it out visually.
Well, I have nothing to say then, dear programmer guru.
You trust your code, I trust my eyes.
All the best in your trading. I am out.
[I]My own real trading with this, abeit only since Dec (merged with my own “embellishments” to it) has been 2%/week, which is better than the results I got before it…so xtraction has helped improve my results…for which I am grateful).
[/I]
Great! Wanna give me a written warranty or anybody else that it works? Any charts? Trading journals like that?
One last suggestion for the EA: You are responsible for the right chart timeframe: Daily!
You trust your eyes, right? There is a chart here showing a small profit in 2009, but a huge loss in 2008.
I trust my checks. Though, backtests are never ever 100% fail proof. Have a good one!
Sigh…be slow to pull the trigger and read my post again. Your EA, i visually tested 6 hrs today. I said that.
"When you posted your EA, I could not resist spending my free time today actually checking it out visually. "
the 12 hrs was last Christmas when I decided to spent 12 hrs over 3 days manually backtesting the WeeklyOpen idea using the LFH simulator…NOT your EA.
Again…chill and be slow to react.
Well, I have nothing to prove to you. And vice versa actually.
Did not want to bother replying, cos it serves no purpose for you or for me. I got what i needed from this thread and it doubled my results. I am happy.
Anyway…noted on the daily chart tip. My bad there and I apologise.
But I did not bother checking visually now. Won’t waste another 6 hrs of my time.
However, using your EA, without modifying code (like I said, I am NOT a programmer) and just changing the inputs as best as I can (my own implementation uses trailing stops among other stuff), I got postivie for 2008-2009.
Again, I am not gonna argue with you…just posting the results using your own EA.
I am out…for real and good this time. Will unsubscribe from the thread.
Thanks bucks…for helping me become more confident of this strat now.
Cheers…