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Slopey Peaky Volume Bob

PostPosted: Thu Aug 08, 2019 3:49 pm
by SteveHopwood
SERIOUS WARNING
  • Most Forex traders lose all their money.
  • Using the robot posted here in trading Forex does not guarantee success.
  • Trading this robot could lead to serious financial loss.
  • Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
  • This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
  • At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
  • To trade this robot, you have to understand:

MAKE SURE YOU READ THIS POST http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=111241#p111241 There was a Forex bloodbath on Jan 15th 2015 that you need to know about.

You need the "SPB core library.mqh" file in your platform's Include folder. Download it from https://www.stevehopwoodforex.com/phpBB ... 59#p159559

Have a look at this folks:
XAUUSDM30.png


That is an increase in the balance of $2,803 since I started the demo on 29th July; note the equity at the time I took the snapshot. A lot of the losers came whilst I was working out the best ratio of stop loss to take profit.

I was musing on the possibility of taking a trade when the trading volume at the close of the previous candle was higher than the close two candles ago. I dragged a Volumes indi onto a chart (Navigator/Volume/Volumes) and saw that yes, a spike in tick volume is usually followed by increased movement on the chart.

Green Volume bars show that there was more activity during the previous candle than on the candle two bars ago. Red means less activity. That is all the indi tells us; it does not tell us whether the activity was buying, selling or both. I added a candle direction filter. Here is the trade setup and trigger:
  • The setup:
    • D1 SS and H4 Peaky are in agreement. You can use the lower time frames SS as well. Here I am describing what I have been doing.
  • The trigger:
    • There is a green Volumes bar.
    • The previous candle had to close in the right direction i.e.
      • SS and Peaky agree long: the candle must have been a rising bar.
      • SS and Peaky agree short: the candle must have been a falling bar.

I have a stop loss of 25 pips and a take profit of 75 pips. This risk:reward ratio of 1:3 has worked very well. I have been surprised by how often the 25 pip stop loss allows the trade sufficient breathing space to recover from a faltering start.

I have been trading an I-am-right-or-I-am-out method. No gridding, basketing, hedging, recovery etc. I have been able to trade high lots (for me):
  • $20,000 starting balance.
  • 1 lot trade sizes - this bot is not a trading tart and I do not recall having more than three trades open.

Divide the start balance and lot size by 10 if this feels too rich for you even on demo, but it is fun when a trade hits TP.

I have some reservations about all this:
  • It is early days and the success may be down to blind luck.
  • I am not sure I would trade such a high trade size were this a live cash account. A black swan event could be devastating.
  • I am not sure how much we can trust the Volumes indicator. All it does is present a histogram of the volume of ticks on each bar. I do not know how accurate that is or where the indi gets its data. I have long believed that the only info a candle holds is its OHLC and open time; maybe I am wrong about that but I do not actually know.


Have fun.

:xm: :rocket:

Matters of general interest
Go here to download and run the script that will fill your platform's missing chart history: Script to (ATTEMPT) Force Download of historical data
Read this post:
The Old Beast, How MurphyMan made this a successful trading Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.

Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179

EA coding
I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at My shell EA code, at the bottom of the post.

Useful utilities/EA's/scripts
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Slopey Peaky Volume Bob

PostPosted: Thu Aug 08, 2019 11:55 pm
by trader689
brilliant, thanks for the share Steve
:good:

Slopey Peaky Volume Bob

PostPosted: Fri Aug 09, 2019 3:26 am
by bodavid
Thank you, Steve! :clap: :clap: :clap: :clap: :clap: :clap: :clap:

Very smart to add volume as it tells a lot! :clap: :clap: :clap: :clap: :clap: :clap: :clap:

I definitely think this one has legs with the right tuning.

Slopey Peaky Volume Bob

PostPosted: Fri Aug 09, 2019 4:27 am
by RobertMY
Must try. Now...! :clap:

Thank you.

Slopey Peaky Volume Bob

PostPosted: Sat Aug 10, 2019 9:34 am
by JonCodesBad
Steve

If this proves to have legs, you may of created a low starting balance ea. :idea:

:hi:

Slopey Peaky Volume Bob

PostPosted: Tue Aug 13, 2019 1:33 pm
by SteveHopwood
I am having some fun with this one.

My sensible demo is still running. I decided to play and started a demo with a $1,000,000 deposit trading 100 lot sizes.

Two early trades hit their SL, costing c. -$41,000. A third hit its TP this morning for +$56,452. There are two open still at +$46,000.

It is a good game. :lol: Give it a try if you have some spare capacity.

:xm: :rocket:

Slopey Peaky Volume Bob

PostPosted: Thu Jan 02, 2020 3:24 pm
by SteveHopwood
V 1a is in post 1, with the hidden stop loss and scaling back in code added.

You need the "SPB core library.mqh" file in your platform's Include folder. Download it from https://www.stevehopwoodforex.com/phpBB ... 59#p159559


:xm: :rocket: