Old and defunct Holy Graily Bob

[boinvest]

Making some good progress on the HGB.
Just want to check the last couple of things...
(yes there will always be, the more I look into this thing, the more opportunitys is see )

What ideas do you have to prevent this thing to spin out of control if your chart looks like this:


The MA is also indicating a uptrend, but in this case HGB is firing a lot of wavy sells.

[kwchau]

Making some good progress on the HGB.
Just want to check the last couple of things...
(yes there will always be, the more I look into this thing, the more opportunitys is see )

What ideas do you have to prevent this thing to spin out of control if your chart looks like this:


The MA is also indicating a uptrend, but in this case HGB is firing a lot of wavy sells.

My understanding is that the yellow waves indicate the end of a trend and beginning of a range. Therefore in my opinion, a new buy or sell should not be taken based on yellow wave. A new sell should be triggered by magenta wave which indicates beginning of a trend, similar to a big arrow.

I hope my interpretation is correct.

[Radar]

Hey Boinvest,

Without the right had side of the chart, the most intelligent comment you will get is "No comment"

Change the colour of buffer 7, so you know whether the wavy is showing a consolidation zone, or a break-out.

From the looks of it, price is barely popping in and out of the TMA range zone, and so HGI is giving repeat signals... You could take the risk, with a relatively short SL... You'll either come out in front, or die a death of a thousand cuts

Problem is, we can't automate a decision in these circumstances... Bob would look at an LTF for each of those signals, and make his decision based on what he sees there.

Oh, well... Move on, no help here

Have fun!

Radar =8^)

[boinvest]

O well, let me clarify.
I have the standard settings/colours on my chart the wavy.
Picture is showing HGI 15.06.
So blue wavy is buffer 7 Wavy Trend.
And gold wavy is buffer 6 Wavy range
Correct??

I will tell you the Way HGB is coded right now..
(version 2e, and before)
To make sure things are'nt mixed up..


Buffer 6.
When a High buffer 6 is shown.
It will trigger a WaveSell Trade.

If a low buffer 6 is shown, it will trigger a WaveBuy trade.

Trade Exit:
When Waveclose on opposite arrow is enabled.
The trade will be closed when an opposite Trend or Rad arrow is shown.

When WaveCloseOnOpposite TMA is enabled.
The trade will be closed when..
An opposite buffer 6 or 7 is shown.

Buffer 7.
If a high Buffer 7 is shown, it will trigger a WaveSell trade.

If a low Buffer 7 is shown, it will trigger a WaveBuy trade.

Trade Exit:
When Waveclose on opposite arrow is enabled.
The trade will be closed when an opposite Trend or Rad arrow is shown.

When WaveCloseOnOpposite TMA is enabled.
The trade will be closed when..
An opposite buffer 6 or 7 is shown.



So coming back to the picture I posted. There is no right hand side of the chart.
This is where the markets closed before xmas.
What this bot will do in this picture is trigger Multiple Wave Sell trades.
Let's ignore the correctness of the signal for now.
But what I would like to see, is that It will not open a trade for every wavy that is shown so close to each other.
A discretionary trader will ignore some of these signals, but a EA will react on each signal it gets.
That's the challenging part of automating human actions.

Later I will post how the EA handles, the wavy with regards to the TrendTrade and the TrendWave trade.
But first let's get this one covered.

[SteveHopwood]

O well, let me clarify.
I have the standard settings/colours on my chart the wavy.
Picture is showing HGI 15.06.
So blue wavy is buffer 7 Wavy Trend.
And gold wavy is buffer 6 Wavy range
Correct??

I will tell you the Way HGB is coded right now..
(version 2e, and before)
To make sure things are'nt mixed up..


Buffer 6.
When a High buffer 6 is shown.
It will trigger a WaveSell Trade.

If a low buffer 6 is shown, it will trigger a WaveBuy trade.

Trade Exit:
When Waveclose on opposite arrow is enabled.
The trade will be closed when an opposite Trend or Rad arrow is shown.

When WaveCloseOnOpposite TMA is enabled.
The trade will be closed when..
An opposite buffer 6 or 7 is shown.

Buffer 7.
If a high Buffer 7 is shown, it will trigger a WaveSell trade.

If a low Buffer 7 is shown, it will trigger a WaveBuy trade.

Trade Exit:
When Waveclose on opposite arrow is enabled.
The trade will be closed when an opposite Trend or Rad arrow is shown.

When WaveCloseOnOpposite TMA is enabled.
The trade will be closed when..
An opposite buffer 6 or 7 is shown.



So coming back to the picture I posted. There is no right hand side of the chart.
This is where the markets closed before xmas.
What this bot will do in this picture is trigger Multiple Wave Sell trades.
Let's ignore the correctness of the signal for now.
But what I would like to see, is that It will not open a trade for every wavy that is shown so close to each other.
A discretionary trader will ignore some of these signals, but a EA will react on each signal it gets.
That's the challenging part of automating human actions.

All this is correct and is based on a post where Bob said he loves trading from wavey line to wavey line. For these purposes, it does not matter what is the colour of the wl. That only becomes important in Trend and Wavy Line combined trading, where the wave must be an end-of-range wave.

[woodlands]

Dear Boinvest,
FWIW
As well as the HGB EA I have used the HGI since it was released, manually, and I use Buffer 6 to close trades and 7 to open, or better 2 x Buffer 7 within three candles, as well as the 'big arrows'. It seems to me from this brief experience that the 6 shows a weakening and the 7 a strengthening, often 2 x 7 carries more weight than the big arrow.
Please bear in mind this is only my observation from using the indicator and not a suggestion how you or Steve should design or code the EA.
I notice also, trading manually, that when a RAD arrow shows there is often a retrace for 2-3 candles before the move continues.
Regards,
Tony

[boinvest]

All this is correct and is based on a post where Bob said he loves trading from wavey line to wavey line. For these purposes, it does not matter what is the colour of the wl. That only becomes important in Trend and Wavy Line combined trading, where the wave must be an end-of-range wave.

Great to have this one sorted out once and for all

I could'nt see the difference either on my black & white print of Bob's manual

I noticed there is also a wavy filter on the Trend trades.
Inbetween a wavy yellow and wavy blue the Trend arrows are ignored.

Same holds true for the rad trades.


And when I was browsing trough some charts I noticed:

If you try to find exceptions to the rules, You'll find them.

Luckly this system gives us plenty of opportunitys, as it is, with Bob's rules,
and we shouldn't be bothered if we missed some good trades. So lets stick to the basics.
And keep the other fun stuff like Yellow Wavy + range trade for the future.

[SteveHopwood]

I notice also, trading manually, that when a RAD arrow shows there is often a retrace for 2-3 candles before the move continues.
Regards,
Tony

Yes, and one of the points Bob made in a post sometime recently is that he uses pending trades to take advantage of the breakout when it happens, and to avoid dd when it doesn't. So, probably worth while going down the same route when using HGB - I shall, for sure.

[woodlands]

I notice also, trading manually, that when a RAD arrow shows there is often a retrace for 2-3 candles before the move continues.
Regards,
Tony

Yes, and one of the points Bob made in a post sometime recently is that he uses pending trades to take advantage of the breakout when it happens, and to avoid dd when it doesn't. So, probably worth while going down the same route when using HGB - I shall, for sure.

Late reply Steve,apologies
I have become quite used to the retrace after the RAD signal and set a Limit Order about 20 under, at first I used a tight stop behind it but lost a lot of positions as the retrace varies so much in depth that I am now setting it with no stop and waiting for the wavy weakening signal if the retrace turns into a reversal, only about a week for this method but so far, so good.
Does that make any sense at all? It's New Years Eve, Happy New Year to you and all involved whilst I struggle to stay awake 'til midnight.

[fx800]

Hi

Thanks to Steve, Bob and everyone involved for HGB.

In manual trading, when a Rad signal appears, in a strong run, I set a pending stop a few pips above/below the high/low of the last bar. Else, I use Steve's STO7 trading aid to catch the retrace. Been quite effective so far. I guess it would be too complicated to code this.

A VERY HAPPY NEW YEAR TO EVERYONE AT STEVE'S FORUM !