Rail Road Tracks

[SteveHopwood]

V 1c of RRTnP in post 1:

• adopted ll's candle length idea.
• in the process, spotted a few more occasions where the ea was still looking at the previous candle rather than the current one.

If any of you downloaded 1b, then replace it with 1c.

[Pooler]

Steve,

1 c OTB. Shouldn't this be a retrace area therefore a sell trade?

[SteveHopwood]

I am not sure it could be programmed, but another sign of a reversal RRT is a widening spread - of course at HOD/LOD (only seen in hindsight ) - even better at the previous day's HOD/LOD which gives a nice M or W over 2 days...

I have copied this as a comment into the code so I do not lose it.

Let's keep the HOD/LOD in the back of our mind for now and see if pure swing trading is successful - it is how I have traded live using 0.01 lots at $0.01 a pip for a couple of days and broken even.

Spotting the widening spread is a neat idea. Spread data is not saved but we can calculate it. I am thinking:

• write an multi-pair script that will calculate the average spread over, say, 200 ticks and save this info in a Global Variable.
• RTTnM can read the GV on startup, then compare the current spread with the average, go into ready-to-trade mode when it spots a spread that is x times the average, then trade when the spread contracts again.
• run the script, say, once a week to keep up average spread updated

Any other thoughts about this, guys?

[SteveHopwood]

Steve,

1 c OTB. Shouldn't this be a retrace area therefore a sell trade?

Yup. Bugger.

I will add a comment that will identify the nature of the trade in time for next week, then we can see whether it is the rrt or the pinbar that is causing the wrong trades.

lucklogic, I forgot to say thanks for looking at the code so: thanks for looking at the code.

[rosst]

I am not sure it could be programmed, but another sign of a reversal RRT is a widening spread - of course at HOD/LOD (only seen in hindsight ) - even better at the previous day's HOD/LOD which gives a nice M or W over 2 days...

I have copied this as a comment into the code so I do not lose it.

Let's keep the HOD/LOD in the back of our mind for now and see if pure swing trading is successful - it is how I have traded live using 0.01 lots at $0.01 a pip for a couple of days and broken even.

Spotting the widening spread is a neat idea. Spread data is not saved but we can calculate it. I am thinking:

• write an multi-pair script that will calculate the average spread over, say, 200 ticks and save this info in a Global Variable.
• RTTnM can read the GV on startup, then compare the current spread with the average, go into ready-to-trade mode when it spots a spread that is x times the average, then trade when the spread contracts again.
• run the script, say, once a week to keep up average spread updated

Any other thoughts about this, guys?

Great idea using GV! that has always been the problem with the spread history indicators - you have to keep them running all the time. if GV could keep the history and tell you when the spread is way out of wack (a technical term) + RRT and or pin bars + within some pips of HOD/LOD (today, yesterday or even the day or 2 before) = should be a 90% winner! - if it is at HOD/LOD for today as well as yesterday it is a good sign you are in what CJ calls Level 3....

[SteveHopwood]

I am not sure it could be programmed, but another sign of a reversal RRT is a widening spread - of course at HOD/LOD (only seen in hindsight ) - even better at the previous day's HOD/LOD which gives a nice M or W over 2 days...

I have copied this as a comment into the code so I do not lose it.

Let's keep the HOD/LOD in the back of our mind for now and see if pure swing trading is successful - it is how I have traded live using 0.01 lots at $0.01 a pip for a couple of days and broken even.

Spotting the widening spread is a neat idea. Spread data is not saved but we can calculate it. I am thinking:

• write an multi-pair script that will calculate the average spread over, say, 200 ticks and save this info in a Global Variable.
• RTTnM can read the GV on startup, then compare the current spread with the average, go into ready-to-trade mode when it spots a spread that is x times the average, then trade when the spread contracts again.
• run the script, say, once a week to keep up average spread updated

Any other thoughts about this, guys?

Great idea using GV! that has always been the problem with the spread history indicators - you have to keep them running all the time. if GV could keep the history and tell you when the spread is way out of wack (a technical term) + RRT and or pin bars + within some pips of HOD/LOD (today, yesterday or even the day or 2 before) = should be a 90% winner! - if it is at HOD/LOD for today as well as yesterday it is a good sign you are in what CJ calls Level 3....

Slow down feller. All of this is irrelevant until the bloody thing trades in the right direction.

[rosst]

I'll drink to that! Have a good WE

[SteveHopwood]

V 1d is in post 1.

I spent a couple of hours this afternoon with the code and Crapergy Tester in visual mode. After seeing a bloop in the pinbar-spotting function, the most obvious point was: the ea was spotting and trading rrt's as coded, but that they were not necessarily at a reasonable high or low. I have added code to combat this.

MinCandlesInSequence: The trigger candle must have the highest high (sell) or lowest low (buy) of this number of candles. This is an attempt to ensure trading a swing rather than a poor entry during a period of consolidation.

I am not sure the code is entirely correct yet - it looks to me as though a few opportunities for an sar were missed. We shall see.

Next step is to consider more dynamic sl/tp functions to facilitate risk-based lot sizing. I am not a fan of these, but I know many of you are.

Here are my initial thoughts:

• sl placed x pips above/below the trigger candle hilo. This allows risk-based trading.
• tp based on the previous swing (Fractals) and/or ADR.

[SteveHopwood]

* After deleting a slew of pointless posts about backtesting results *

Guys, please stop posting back test results. Note that I say 'please' only out of politeness. I do not actually mean 'please'. It is an instruction. Only the naive think that Empty4 Craptergy Tester backtesting results show anything useful.

Backtesting helps me spot bloops in my code. That apart, forget it.

Future posts about backtesting will also be deleted. Members making an issue of this will have their membership cancelled.

Capiche?

[Sojourner]

Steve, can you put an option in the EA setting to discombooberate the rogue trade setting thing? I get all crinkly knuckled and nervous when I edit anyones mq4 code.