HGI and the 240 H4 Moving Average

[SteveHopwood]

Here is something I am trying:

• H4 on GU, EU, UC, UJ, GJ
• Bob's H4, 240 period moving average:
  • Go long only when the market is about the MA.
  • Go short only when the market is below the MA.
• Enter a trade when HGI shows blue wave or green trend arrow.
  • Preferably following a retrace.
• Build up a grid of trades following each signal so long as there is some distance between new and existing orders.
• Close all orders:
  • On an opposite direction signal.
  • Cross of the MA in the opposite direction of the market.

Download Bob's HGI from Nanningbob HGI

Here you can see three EU orders doing very well. Click on the picture to open a larger version showing the details better:

EURUSDH4.png

Remember folks that HGI is a here-and-now indicator. The signals you see on the charts as you look back through history are there because the conditions that generated them were still in place when the candle closed. The signal disappears from the chart when you restart your browser or change time frames, if the conditions that created them changed. They have disappeared from this chart so it looks as though I took the trades randomly. I didn't.

The white rectangle highlights the first trade. You can see how far the market went against it before moving back in my favour. The pic also highlights how useful it would have been to have waited until the retrace was completed then traded on the blue wave. I was dubious about entering the market because the previous highs were slanting down but the orders are doing well, so far.

Here is a setup that is looking promising:

USDJPYH4.png

Lovely retrace, so I will enter a trade if the market stays above the MA and HGI generates a signal.

I have also set up an H1 demo with the 240 MA emulated by a 960 period. I only created this on Friday, so no orders yet.

Let us see what happens.



Edit 16th July:
Post 3 viewtopic.php?p=175812#p175812 describes the first week of trading this way and the conclusions I have already come to. I have attached here, the scripts I use.

The first input in the grid scrips is GridStartingPrice. This allows you to set your own price for the first stop order in the grid. Leave it set to zero and the script will use your GridSize and DistanceBetweenTradesPips to calculate your order fill prices.

Take care with Nuclear Option. Use it only when you want to close all trades on the platform. It does not discriminate between different originating trading systems.

Edit 17th July:
It occurred to me to make take profit and stop loss inputs individual to to the type of order being sent. The relevant inputs are:

• FirstTradeTakeProfitPips
• FirstTradeStopLossPips
• GridTradeTakeProfitPips
• GridTradeStopLossPips

Edit 19th July:
I find that the grid orders fill and hit TP. Eventually I want to add a fresh grid without sending a market order. The first input is SendImmediateMarketTrade. Set this to 'false' if you only want to send a new grid. You can either chose the price for the first stop order. Leave this blank and the first stop will be at (market +- DistanceBetweenTradesPips).

[TableTop]

Good luck with this Steve. I've had an on-off affair with HGI. I've had some great runs and given a lot back to the market makers too! I've been studying the captain jack (and some related manual trading approaches) and although profitable, not profitable enough to call it winning, and your post has inspired me to test out HGI alongside some of the main factors that I am manually trading, in the hope that HGI will keep me out of the stupid moves!

This morning has been promising - but this may just be a bit of luck. If anything comes of it I'll add a few posts.

[SteveHopwood]

Results last week:

TradeReport.png

There were some brilliant runs and HGI picked them up. Friday is often a reversal day so I closed out on Thursday evening, to be flat for the weekend.

I am not sure how helpful the moving average is going to be. Go back to post 1 and look at the UJ chart where I was waiting for HGI to signal a buy. This is what happened subsequently:

USDJPYH4.png

See how well I would have done had I taken the sell signals. Hey ho.

I learned not to be in too great a hurry to close trades. The vertical magenta line shows where I closed 3 EU trades. See what happened subsequently. I took the last big green arrow and the trade ran for more than 200 pips.

EURUSDH4.png

As a point of interest, the very first trade was taken on a candle where the conditions changed and the original buy signal was replaced by a yellow wavy. It happens.


I read Bob's manual again, for the first time in years. I was already stacking trades when a large arrow or blue wavy appeared. I have largely ignored RAD signals over the years; this is a mistake. Look again at the UJ chart and imagine how many pips I would have caught had I taken both the large red arrow signals and added entries following a RAD. Wow. The final signal is a range signal, so that would have been a good time to close the orders and crack open a bottle of wine.

It gets even better. One of thee ideas Bob presents in the manual is to take the first trade then:

• Add a grid of stop orders x pips apart.
• TP is the fill price of the next stop order.

Think how many pips doing that would have netted.

So this is the plan for the coming week:

• Still obey the moving average, for now at least.
• Enter the first trade following a large arrow or blue wavy.
• Send a grid of 5 stop orders, 20 pips apart.
• TP is 20 pips.

I am using scripts for all this and have added them to post 1. Let's see what happens next.

[SteveHopwood]

I have added TP/SL flexibility to the grid trading scripts. Details at the bottom of post 1.

[SteveHopwood]

Adding extra features to the market and stop order sending code caused a few bugs. I have tracked them down and squished them - post 1 as usual.

I have added another feature - details in the edit at the bottom of post 1.

Sending a grid of stop orders has been fantastically successful so far. I will post details over the weekend.

[SteveHopwood]

A good week last week:

TradeReport.png

Grid trading made a massive difference. There were 38 x 20 pip TP trades = 760 pips.

I am also trading HGI signals live. 651 pips. Live, I am not using the moving average filter.

[jptwardy]

Steve - I just set up the system you are trailing. Is there a script to close all active and pending trades when a wavy line appears. I checked the utilities and scripts folder and didn't see any. I had several trades that were losers overnight but would have been closed earlier when the signal changed, rather than waiting for the stop loss . Thanks

[SteveHopwood]

Steve - I just set up the system you are trailing. Is there a script to close all active and pending trades when a wavy line appears. I checked the utilities and scripts folder and didn't see any. I had several trades that were losers overnight but would have been closed earlier when the signal changed, rather than waiting for the stop loss . Thanks

I have had this as well, so I am going to code a manager EA to do what you want.

[jptwardy]

That would be great! I tried the hgi indicator quite a while ago but never was consistently successful - however having been around the block several times I see don't anything that is better! Just need to be more selective with selecting trades and risk management.

[jptwardy]

Steve - what is the indicator/utility that you are using to show market open orders data on the chart? - I found several indicators/utilities but none that look like that - Thanks