Scalp the Little Gits, dsu

nonlinear · Post by **nonlinear** » Wed Jun 25, 2014 11:57 pm

Dsu, I don't dare speak for Steve, but that is not what Steve is asking. Steve, I am pretty sure Dsu means how far into the ATR the pair has moved between the daily open and the trade time after the London open, or between the daily open and the trade time after the NY open. If it has already moved too far into the ATR, then less likely to continue the 5 or 10 pips. That's my dimwit view anyway.

dsugums · Post by **dsugums** » Thu Jun 26, 2014 2:17 am

I will try to explain if this makes any sense for using ADR as a filter.

During the start of new day, the ADR High/Low Level usually is +/- from the open price. If the pa moves below open price, new ADR high is made (which will be lower than previous one). If the pa moves up, the previous low will be the ADR low level. Each time a new low/high bid occurs, the ADR High/Low change.

So, for filtering purpose, I think we should have at least 15pips from the ceiling/floor of the ADR high/low levels for the trade to succeed.

If we just use ADR pips as filter, the EA will stop trading once the range has been met. Even though the daily range is hit, price might retrace by more than 15pips from ADR level for London to make another stab at the ADR levels.

Summary is that we need to get dynamic ADR high/low for the day and trade accordingly if there is room to move from these levels.

I know I probably made Steve so confused he will be cursing me

nonlinear · Post by **nonlinear** » Thu Jun 26, 2014 2:27 am

Dsu, I think you and I are saying the same thing? We are just measuring how far price has moved % wise into the ADR between the daily open and the start of the proposed pending order in the direction of the trade. Agree? That could be, for example, 65 or 85% to cut off opening pending trades, depending on the pair.

Post by **SpiderX** » Thu Jun 26, 2014 4:09 am

dsugums » Thu Jun 26, 2014 10:17 am wrote:I will try to explain if this makes any sense for using ADR as a filter.

During the start of new day, the ADR High/Low Level usually is +/- from the open price. If the pa moves below open price, new ADR high is made (which will be lower than previous one). If the pa moves up, the previous low will be the ADR low level. Each time a new low/high bid occurs, the ADR High/Low change.

So, for filtering purpose, I think we should have at least 15pips from the ceiling/floor of the ADR high/low levels for the trade to succeed.

If we just use ADR pips as filter, the EA will stop trading once the range has been met. Even though the daily range is hit, price might retrace by more than 15pips from ADR level for London to make another stab at the ADR levels.

Summary is that we need to get dynamic ADR high/low for the day and trade accordingly if there is room to move from these levels.

I know I probably made Steve so confused he will be cursing me

Maybe you should give these rules, each condition line by line in pseudo code form.
That makes things easier.

Cheers

dsugums · Post by **dsugums** » Thu Jun 26, 2014 4:24 am

Let me try, I am just novice coder:

ADR_High = iLow(Null,Period_D1, 0) + ADR/factor

ADR_Low = iHigh(Null, Period_D1,0) - ADR/factor

For Long

if (ADR_High - PriceCeiling > 15/factor)

For Short

if (PriceFloor - ADR_Low > 15/factor)

Post by **SteveHopwood** » Thu Jun 26, 2014 9:07 am

V 1g is in post 1. Copied from post 1:

Maximum market movement to allow a trade
It is a bad idea to trade when the market has already moved a long way away from its D1 open price - the market is due a retrace by then. There are two filters that tell the EA not to trade when this happens:
MaxAllowedPipsFromOpen: a zero value (the default) turns this filter off. Enter a positive value and the ea will not trade if the market has moved this many pips away from the D1 open price.

ATR using the Average True Range indicator to do the calculatiion:
AtrPeriod: set this to zero to turn off the filter. The default is the indi default value of 14.

AtrTimeFrame: the chart time frame to use to calculate the ATR. Defaults to the D1. A zero value means 'use the current chart time frame'.

AtrAllowablePercentMove: the maximum percentage of ATR that you will allow the market to move away from the D1 open to allow a trade.

I have added code to delete pending trades once your trading session has ended.

dsugums · Post by **dsugums** » Thu Jun 26, 2014 9:07 am

Some good trades for London open. Now back to zzzzzz

Next try at US open if still hungry

Post by **SteveHopwood** » Thu Jun 26, 2014 9:12 am

I coded 1g before reading the previous few posts. Give me time to try to understand them - they make little sense to me at the mo.

Post by **SteveHopwood** » Thu Jun 26, 2014 11:44 am

I took a bath, so V 1h is in post 1. Copied from the edited post 1:

Maximum market movement to allow a trade
It is a bad idea to trade when the market has already moved a long way away from its D1 open price - the market is due a retrace by then. There are two filters that tell the EA not to trade when this happens:
MaxAllowedPipsFromOpen: a zero value (the default) turns this filter off. Enter a positive value and the ea will not trade if the market has moved this many pips away from the D1 open price.

Average Daily Range using the Average True Range indicator to do the calculation:
AtrPeriod: set this to zero to turn off the filter. The default is the indi default value of 14.

AtrTimeFrame: the chart time frame to use to calculate the ATR. Defaults to the D1. A zero value means 'use the current chart time frame'.

MinimumAcceptableRemainingPips: the bot calculates a dynamic average daily range:
the range high is the low of the D1 chart plus the average daily range.

the range low is the high of the D1 chart minus the average daily range.

a long trade is only allowed if there are at least MinimumAcceptableRemainingPips (default 15) between the range high and the price ceiling.

a short trade is only allowed if there are at least MinimumAcceptableRemainingPips (default 15) between the the price floor and the range low.

nonlinear · Post by **nonlinear** » Thu Jun 26, 2014 12:39 pm

Thanks for the modifications Steve, looking good so far (3 losers and 1 winner on the old version, but two of these were bad trades for the following reason). My criminal's daily open is five hours after the GMT+0, which is causing the EA to miss good trading opportunities and take bad ones. I am not saying that the daily open at GMT+0 or even +3 is best, but I do believe the daily open at GMT-5 is not the level would should start off of, or at least the one that I want to use. This EA requires really good spreads, which limits our criminal selection, particularly for U.S. traders (you guys overseas are spoiled with GP). So, when you have a chance, could you (pretty please) also add an hour offset variable to control the hour of the daily open relative to the broker or computer time? Thanks as always!