- 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:
- How to use EA's.
- Bob's HGI indicator.
- The concepts of swing high and swing low.
Intro
Holy Graily Bob 'n Sixths is inspired by RisklessPips' manual trading, described at http://www.stevehopwoodforex.com/phpBB3 ... =88&t=4720. Visit Charles' thread to see how he uses Sixths, Semafor and HGI. HGBnS is not an attempted automation of Charles' trading, although there are similarities.
You need Bob's Holy Grail Indicator. Download Bob's zipfile from http://www.stevehopwoodforex.com/phpBB3 ... 45#p105045. You need a version of HGI in your Indicators Folder - the latest version is attached to Bob's post 1. Remember to change HGBnG's HGI_Name input to the name of the version you are using, or he will be excessively rude to you.
Newbie traders, you are the luckiest noobs in the history of the train wreck that is retail Forex trading. HGI is the culmination of about 6 years work by nanningbob. You can trade manually by sitting at your console reading a book and simply reacting to the HGI signals. This is the most exciting development in my 8 years experience of the train wreck. Just make sure you absorb "HGI and so-called 'repainting'" from further down this post.
Are you a confused newbie? Don't clutter this thread with requests for basic information - I will delete them. Ask instead at http://www.stevehopwoodforex.com/phpBB3 ... 91#p105691 where friendly souls will help you out.
There are probably a few bugs as I coded this over the weekend and so could not test the code
Trading method
HGBnS is a counter trend trader whose trades are based on the principle that a market that has moved a long way is ready for a retrace. Pull a Fib over any swing high/low on any time frame, and you will notice a tendency for the market to return towards the middle.
Taking long trades as an example:
- When the market is above the top blue line:
- Following a 3 level semafor signal:
- Send a pending sell stop just below the top line.
- Following a 3 level semafor signal:
- When the market is above the top yellow line:
- Take an immediate market trade following an HGI blue wave or downtrend arrow.
Use the attached '3 level'. DigitalCrypto wrote to me a couple of days ago, pointing out that values of 0 for Period1 and Period2 saves a lot of cpu pressure.
You do not need the sixths indicator: HGBnS draws the lines for you.
Currency Slop Strength
We have added this after Bob revived interest in it at http://www.stevehopwoodforex.com/phpBB3 ... =88&t=4735. Enabling it turns HGBnS from a counter-trend trader into one that re-enters the prevailing trend following a deep retrace. Theoretically this should make for fewer, but safer and more profitable trades; we shall see.
Now that we are trend rather than retrace (counter-trend) retrace, it makes sense to set more distant take profit targets. I describe how in the next section.
You do not need a CSS indi on your chart or trading platform. The CSS lives inside the bot already.
Take profit, stop loss, breakeven trailing and jumping stops
You can make these 'hard' stops by entering their values yourself. The default of -1 tells HGBnS to calculate these from the Sixths lines:
- Stop loss is one Sixth width above/below the trade price.
- Take profit is the middle line - coloured magenta - unless TakeProfitBuyLine (buy trade) or TakeProfitSellLine (sell trade) lies within an acceptable range:
- The lines are numbered 1 to 7 counting from the bottom up. Line 1 is the bottom line. Line 7 is the top line. A value of < 1 or > 7 will force HGBnS to use the middle line.
- Buy trade: set TakeProfitBuyLine to your chosen line.
- Sell trade: set TakeProfitSellLine to your chosen line.
- HGBnS will adjust the take profit if it falls on the wrong side of the trade's open price.
- BreakEvenTargetPips will be one Sixth width. BreakEvenTargetProfit will be one Sixth width /6.
- Jumping/trailing stop: I leave you to work this out for yourself.
Leave this feature enabled for now. A semafor signal above/below the highest/lowest Sixth will automatically be the high/low of the period, so the bot will adjust the lines at the next tick. The trade will look wrong, so we want to be able to check the snapshot to ensure the trade was taken correctly at the time.
That is all I can think of for now - I will edit this later as I think of thingies to add.
Have fun Gals and Galesses.
Manual intervention
To those of you with the occasional firing brain cell who are not too stupid and lazy to take any notice of anything I write: congratulations on reading this bit. You are in a minority. Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... 77#p119077 You will not be sorry that you did so.
HGI and so-called 'repainting'
Members new to all this have difficulty grasping the implications of this deceptively simple fact: The Holy Grail Indicator works in the here and now:
- what happened on the previous candle is irrelevant.
- what happened 5 minutes ago is irrelevant.
- what happened on the previous tick is irrelevant.
It is not. When loaded, it cannot print a signal for trading conditions that do not exist. The fact that they existed 5 minutes ago is irrelevant; the indi works in the here and now and cannot know that they existed 5 minutes ago? 'Historic' signals are on the chart because the conditions that created them were still in place at the candle close; there is no way of telling how early in the development of that candle those conditions first came into being.
Got it? Tough if not because I do not care. What I do care about is being dragged here to read yet another whinge about 'repainting' by a dimwit too thick to understand the basic concept of 'here and now'. I shall delete posts about it - along with the writer if I am in a bad mood. Sorry to sound harsh, but I am doing some 'heading off at the pass' here.
Matters of general interest
Go here to download and run the script that will fill your platform's missing chart history: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=254
Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p?f=6&t=78 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 http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79, at the bottom of the post.
Useful utilities/EA's/scripts
- Multi purpose trade manager: http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64
- Account equity analyser: http://www.forexfactory.com/showthread. ... ost4709098, which includes a template for both USD and the Euro.
- Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthread. ... ost3830610
- My shell EA – the code I use to produce EA's so quickly. http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79
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