Scalp the Little Gits, dsu

[patmontes]

The average daily range is getting very narrow last few weeks. Until it gets wider, better off picking up 5-9pips per trade than hoping for 12pips. Summer trading is always a challenge.

I agree... and best to use the high ADR pairs

[SuperSonic]

First I'd like to thank dsugums and Steve for their work on this EA. Very nice and much appreciated!

I too believe it holds some potential, and have performed a bunch of backtests and some forward testing to try out which settings give the best results. Some of those are really exciting and some show the need for further optimization. Here are my ideas:

The WMIvol indicator (and the spinoff EA Steve has created for it) works towards eliminating the fixed set market hours, and that seems to work to some extent. Not sure if it is better yet, but it's certainly more dynamic than fixed hours and more specifically the daylight savings complications it brings for quite a few of us across different trading sessions (ex. in the March/October timeframe). It's also much easier to backtest . Backtesting on multiple pairs with a WMIvol value of 0.6 to 0.8, it looks like the WMIvol version catches more or less the same trading hours as the ones mentioned by dsugums in the 1st post. Could be good, could be bad but will test further... . Fact is that I was able to extract trade times out of the WMIvol version backtests and use them in the 'manual input' version with good results.

Since this is an EA which should work on multiple pairs, it should have the ability to adapt dynamically to their specific conditions. That means TP/SL and related BE and TS settings are specific for a given pair, and will even change over time for that pair given market conditions. My suggestion would be to incorporate these dynamics in the TP/SL/BE/TS and related functions, so that they adapt to the pair and use dynamic levels and not fixed ones. It looks like the ATR indicator could be used for this, as it's already used for other functions, perhaps together with a user-settable factor. Maybe a nice combo of ATR/ADR can be used?

The average daily range is getting very narrow last few weeks. Until it gets wider, better off picking up 5-9pips per trade than hoping for 12pips. Summer trading is always a challenge.

It would also fix the issue of 'summer trading'.

As an example at the beginning of a trade (and with a desired Risk:Reward level):
ATR : measured to be 20 pips
Risk:Reward : 3:1
TP : ATR * Reward (20 * 3 = 60 pips)
SL : ATR * Risk (20 * 1 = 20 pips)
TS : ATR (20 pips)
BE : triggered after ATR / 2, set to cover spread

Not sure if ATR is the best way to approach this, but to my observation it would certainly be beneficial and more dynamic. I'll probably have a go at the code to change this myself, but since this would be my first MQL programming feat it is probably better if an experienced coder looks at it in stead

[dsugums]

First I'd like to thank dsugums and Steve for their work on this EA. Very nice and much appreciated!

I too believe it holds some potential, and have performed a bunch of backtests and some forward testing to try out which settings give the best results. Some of those are really exciting and some show the need for further optimization. Here are my ideas:

The WMIvol indicator (and the spinoff EA Steve has created for it) works towards eliminating the fixed set market hours, and that seems to work to some extent. Not sure if it is better yet, but it's certainly more dynamic than fixed hours and more specifically the daylight savings complications it brings for quite a few of us across different trading sessions (ex. in the March/October timeframe). It's also much easier to backtest . Backtesting on multiple pairs with a WMIvol value of 0.6 to 0.8, it looks like the WMIvol version catches more or less the same trading hours as the ones mentioned by dsugums in the 1st post. Could be good, could be bad but will test further... . Fact is that I was able to extract trade times out of the WMIvol version backtests and use them in the 'manual input' version with good results.

Since this is an EA which should work on multiple pairs, it should have the ability to adapt dynamically to their specific conditions. That means TP/SL and related BE and TS settings are specific for a given pair, and will even change over time for that pair given market conditions. My suggestion would be to incorporate these dynamics in the TP/SL/BE/TS and related functions, so that they adapt to the pair and use dynamic levels and not fixed ones. It looks like the ATR indicator could be used for this, as it's already used for other functions, perhaps together with a user-settable factor. Maybe a nice combo of ATR/ADR can be used?

The average daily range is getting very narrow last few weeks. Until it gets wider, better off picking up 5-9pips per trade than hoping for 12pips. Summer trading is always a challenge.

It would also fix the issue of 'summer trading'.

As an example at the beginning of a trade (and with a desired Risk:Reward level):
ATR : measured to be 20 pips
Risk:Reward : 3:1
TP : ATR * Reward (20 * 3 = 60 pips)
SL : ATR * Risk (20 * 1 = 20 pips)
TS : ATR (20 pips)
BE : triggered after ATR / 2, set to cover spread

Not sure if ATR is the best way to approach this, but to my observation it would certainly be beneficial and more dynamic. I'll probably have a go at the code to change this myself, but since this would be my first MQL programming feat it is probably better if an experienced coder looks at it in stead

Wait for market to normalise by Sept then start testing the original system. No system works in this low range market.

When pa enters the 50ma and 200ma zone, trades are difficult to move due to H1 and H4 50ma try to exert their respective trends. Avoid trading within this zone. I will try to get the codes modified to use additional ma and post it here. It will filter way too many trades though.

[dsugums]

I have hard coded the 50 and 200ma in the EA. I don't have time to make it as selectable in the user input to disable it.

So far the the ma's are filtering out quite a number of bad trades as well good trades. Good trades comes in when the gap between 50 and 200 is quite large but I don't want to bother coding this rule (more than 30pips; usually a retracement after huge moves).

I prefer to filter out most bad trades and few good trades as well instead of taking all the trades.

Add in these two lines in the code (disable the user input ma setting first).

//Long trade

//Specific system filters


if (Bid > D1OpenPrice)


if (Bid > iMA(NULL,PERIOD_H1,200,0,1,0,1))

if (Bid > iMA(NULL,PERIOD_H1,50,0,1,0,1))

//Short trade

//Specific system filters


if (Bid < D1OpenPrice)


if (Bid < iMA(NULL,PERIOD_H1,200,0,1,0,1))

if (Bid < iMA(NULL,PERIOD_H1,50,0,1,0,1))

Rest of the setting remains same.

Don't pin this new modifications in post 1 until more forward test is done

[dsugums]

Sorry for not updating for sometime. Been quite busy last few weeks.

I been trading the method on 4H and seems more reliable than H1 with less trades

All the settings are similar except the sl I increased to 10pips and TP left it open or 50pips. I removed the distance of pips from floor/ceiling.

Will update again end of the week. For now, I will try to combine WMI version with this basic version on H4 timeframe.

[trader689]

great please keep us posted, am having inconsistent results on H1

Sorry for not updating for sometime. Been quite busy last few weeks.

I been trading the method on 4H and seems more reliable than H1 with less trades

All the settings are similar except the sl I increased to 10pips and TP left it open or 50pips. I removed the distance of pips from floor/ceiling.

Will update again end of the week. For now, I will try to combine WMI version with this basic version on H4 timeframe.

[dsugums]

Quick update. The EA is doing not so bad up to mid week. As long I don't fark around with the settings, it is doing great .

WMI version seems seems to filter out to many trades though.

One additional filter I add in is for long, previous candle must close green and for short, previous candle need to close red. This way, we continue with the momentum.

Will keep posted until I get this EA almost perfect



Skype: eu_intraday (must refer as SH to get added in you request)

[SteveHopwood]

Quick update. The EA is doing not so bad up to mid week. As long I don't fark around with the settings, it is doing great .

WMI version seems seems to filter out to many trades though.

One additional filter I add in is for long, previous candle must close green and for short, previous candle need to close red. This way, we continue with the momentum.

Will keep posted until I get this EA almost perfect



Skype: eu_intraday (must refer as SH to get added in you request)

Hi ds.

I assume you are making these code alterations yourself and not waiting for me?

[dsugums]

Quick update. The EA is doing not so bad up to mid week. As long I don't fark around with the settings, it is doing great .

WMI version seems seems to filter out to many trades though.

One additional filter I add in is for long, previous candle must close green and for short, previous candle need to close red. This way, we continue with the momentum.

Will keep posted until I get this EA almost perfect



Skype: eu_intraday (must refer as SH to get added in you request)

Hi ds.

I assume you are making these code alterations yourself and not waiting for me?

I will post the modified codes end of the week. I am testing a few more conditions to optimise it further.

Those who are inpatient, can add this lines:

//Long trade

//Specific system filters
if (Bid > D1OpenPrice)

if (Close[1] > Open[1])



//Short trade

//Specific system filters
if (Bid < D1OpenPrice)

if (Close[1] < Open[1])

[rapple]

Dear Steve and Dsu

I too have been spending some time analysing how this EA trades and believe it has some exciting possibilities.

One thing I noted is that when the bid starts below the Daily Open a pending sell order is placed at the 'Price Floor' which is correct

If however bid then moves above the Daily Open within the hour the original pending order remains. What I propose is that the EA deletes the current pending order and creates a new pending at the Price Ceiling.

I have attached a chart which demonstrated this point. A pending sell was placed, the bid then reversed above the DailyOpen, but no pending buy was placed at the Price ceiling. If so it would have gone onto profit.

Kind regards Rapple

ps. to get it to trade like this I have removed the Stochastic Filter