DC3 Range Bar Strategy

[SteveHopwood]

I am happy to manually make 20 or so pips per day. It doesn't take long to do with this method.

Old stagers are familiar with what they are about to read.

Back in 2006 when I first discovered the train-wreck that is retail Forex trading, I came across a thread In Another Place that described becoming wealthy by making 20 pips a day.

"Ha," thought I. "Ridiculous. I can make 20 pips in my sleep. The guy is an idiot." Happily, I did not post my first accusation of a forum member being an idiot.

Instead I failed as a trader and blew several accounts. Two of them are the reasons I utterly forbid traders to borrow money to fund live trading accounts. It took me years to get that debt off my back.

It is a good thingy that I did not make 20 pips a day back then, because SHF would not exist to change lives in the way that it does. Happily, I was an idiot, and so did not gradually become wealthy, and so SHF does exist. Not often that a forum owner admits that being an idiot is a force for good.

You can make 20 pips a day? Fantastic. Do it. Make the pips and the money will follow. Be patient. Don't be greedy.

David, you are one of the Forex Good Guys. There are not many of the likes of you, but I bet most of them are here at SHF. Send me a trading spec that does not force me to plough through masses of external information and I will code the EA.

Give this some thought as well. Offline EA's need different handling to online EA's. Offline EA's do not react to the ticks apparently shown on the offline chart. These ticks are generated by a tick generator such as the Renko LIve Chart EA. Your code might be fine but not working because you are using an offline chart.

Or I might be writing bollocks. Perhaps if so, then one of the more expert coders here might be able to comment more intelligently.

Whatever, you have my support David.

[renexxxx]

Hereby some initial encouraging results from running Steve's EA on the off-line chart. This is after two days and only trading GBPUSD and EURUSD. (I made some minor changes to the code in order to use the 3Level2 semaphor and obviously to have it run on the offline chart; However, I don't like hacking someone else's code, this is much better left to the original author: Steve):

Capture.PNG

Not sure if the EA follows the latest rules -- in fact, I'm sure that it doesn't. Nevertheless, the results are encouraging and hopefully this is something to build upon. I attach Steve's EA with the minor mods for reference, but I'm sure that Steve and David can come up with something that is much closer to the manual strategy.

[DigitalCrypto]

Thank you Rene,

I see above Steve asked for more specifics and some careful thought beforehand. I don't want to be the one to invite LUC over. I will take a look over the next couple days and see what you did and if it holds true to the rules as best I can. Maybe your patch is all it needed and that would be great!

Thank you too Steve,
I'm not really sure if we should proceed any further if there are so many problems with Empty4 offline charts. I completely understand that it's one thing to click a button when my eyeballs spot the trade but another to tell the computer when to trade. And I know it's even more difficult to tell if Empty4 even attempted to bother to trade the signal.

I really do appreciate you guys taking a look at it.

If anything this could just be reserved as a SHF trading strategy for people who need a basic-basic trading strategy to get their confidence levels back up.

-David

P.S. I got an email notice from one of my more reliable criminals the other day that a recent Windows (10?) update had borked Empty4 indicators and ea's causing them not to take trades but that CrapperQuotes has since patched it as of last weekend. Could this explain why it wasn't working? I do not know.

[macush]

Thankyou Dave,this strategy is brilliant in its simplicity.I cant get my head around Range Bars or EA's,and from what I read here daily I dont know why so much time is invested in them and their intricacies. I am only using 3 Level 2 with Scalper candles (similar to Heiken Ashi),and your 34 EMA, combined with TJ's little Flying Buddhas it is so simple even I might make a profit,thankyou so much for sharing. :youknow:
macush

[DigitalCrypto]

Thankyou Dave,this strategy is brilliant in its simplicity.I cant get my head around Range Bars or EA's,and from what I read here daily I dont know why so much time is invested in them and their intricacies.

For me the two most important indicators on any chart are price and time. Range bars eliminate the time aspect from the charts.

I am only using 3 Level 2 with Scalper candles (similar to Heiken Ashi),and your 34 EMA, combined with TJ's little Flying Buddhas it is so simple even I might make a profit,thankyou so much for sharing. :youknow:
macush

I know what the 3level is because Steve modded it and sent it to me with the above algo. But I am a bit dense on what flying buddha and scalper candles are. If you are making more than you are losing then that's the important part

[DigitalCrypto]

Hereby some initial encouraging results from running Steve's EA on the off-line chart. This is after two days and only trading GBPUSD and EURUSD. (I made some minor changes to the code in order to use the 3Level2 semaphor and obviously to have it run on the offline chart;

Hi Rene,

I just diffed the files to see what you changed and cannot see a difference. I think maybe the original file got uploaded to your post? Not sure.

Very curious to see how you made it work

Best,
David

[renexxxx]

Hi David,

No, I definitely attached the correct modded file to this post. Compare this DC3V1O (mod).mq4 file to the DC3V1O.mq4 of your original post. If your diff-program can not see the differences, you need to upgrade your diff-program.

The differences are not major, but enough to make Steve's EA work on a offline chart, and use the 3Level2 indicator. The modded EA is opening and closing trades. If it exactly follows your manual rules is another question.

Cheers ... R.

[DigitalCrypto]

Ok Rene,

I just got my last monitor mounted and I will look at it again. I may have made a mistake.

Edit: My diff utility is reporting they are the same "binary"? sigh. I manually looked through the code and saw that the OnTick() was changed to OnTimer() with the EvenSetTime(1). Is that about the sum of the changes Rene?

Thanks,
David

[renexxxx]

Is that about the sum of the changes Rene?

There are other changes. Get WinMerge and check them out. Like I said, the only changes I made are to make the EA run on the offline chart and to use the 3Level2 semaphor. No changes to the logic have been made.

Cheers ... R.

[TylerRoss]

Hello everyone!

I've read this entire thread multiple times and I still am not sure how to add range bars to my chart, I've added "Range bars EA new format 1 mod.mq4" to normal charts and offline charts but everytime I do my Empty4 platform freezes. My apologies for being too dumb to figure it out myself, any help is greatly appreciated!

Thanks
Tyler