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Counter Layout
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Author:  gaheitman [ Fri Jan 13, 2012 6:16 pm ]
Post subject:  Re: Counter Layout
youcrazykids wrote:Hi Meiloo

I've written a detection routine for the XABC formations you described, using the rules you outlined.
I spent time today refining the code - here's a screenshot of what I've seen today from 06:00 to 17:00 GMT (ignore the trade lines on the chart).

Green letters indicate points of a possible/emerging XABC formation, with a view to trading LONG.
Red letters indicate points of a possible/emerging XABC formation, with a view to trading SHORT.

I think the best formations that appeared so far were LONG XAB (not the full XABC) at 07:30 and 10:20, and SHORT XAB at 15:20.

Can you confirm whether or not you saw any C points today? If I relax the detection rules, they start appearing, but not otherwise. Please take a look, and tell me if this looks like a good start, or if more refinement is needed.
Patterns.jpg
Thanks

youcrazykids
Great start! I have to admit, I'm glad you raised your hand on this one. I had started to work on it, but was having trouble deciding which direction to go (forward or backwards). I think I settled on going backwards through the data (starting with current bar) and trying to see if you have a C first. If you have a C, you have the whole thing.

Pseudo Code:

Is Current bar a local high or local low (it has to have the highest high or lowest low in the last 9 bars)?
{assume we have a local low for the rest of the tests, reverse for local high}
Is the previous local low (previous 9 bars) within 1-3 pips of our current low and did it occur 5-9 bars ago?
Is the local high between our current bar and whichever bar was the previous local low > 10 pips away?
Is the previous local low still the lowest value as we step back in time until the range from the previous local low to the high of the stepping back bar > 30? {I could probably say that better :>)

If we made it this far, we know we have a valid setup. Well, I think we do. :lol:

George
Author:  mydone [ Fri Jan 13, 2012 8:00 pm ]
Post subject:  Re: Counter Layout
Really good start
Author:  mydone [ Sat Jan 14, 2012 10:59 am ]
Post subject:  Re: Counter Layout
Waiting for such brilliant indicators (because i'm a looser trader at all, maybe it will improve my trading)
Author:  youcrazykids [ Sun Jan 15, 2012 9:49 pm ]
Post subject:  Re: Counter Layout
Hi all

OK, here's the latest version of the code for detecting the XABC pattern. On first glance, the screen may appear slightly cluttered, but there is a reason for each object being displayed. This detector works by scanning all the visible bars on the chart, so it gives you an immediate picture of what is happening. At present, it is visual indication only. No trading goes on.

All of the parameters are customisable, so feel free to play with them and see how it affects the performance of the algorithm. My goal is to fine-tune a set of parameters which result in XABC detection whose accuracy and consistency is in keeping with a human. Therefore, I need someone to shout out in the coming days if they see a genuine XABC formation. I can then tune the parameters to suit. Here's some basic info:

1) You can turn the measurement line visibility on and off by setting ShowMeasurementLines to True/False. Also, You can turn the XABC line visibility on and off by setting ShowXABCLines to True/False.
2) Because points X, A, B and C are extremities (highest or lowest values), I am using iHighest and iLowest functions to detect these. Hence, I must define a local range through which to search, and a time after which I must end the search. The DetectionRange and DetectionLag variables allow adjustment of these search ranges. For example, it is no good having a very short search range for point X, as you would be receiving frequent false indications. This is why I have decided that X must be the extreme of the latest 14 bars, and I have instructed that there must be a 3-bar wait before it is confirmed as an extreme.
3) Because it is possible to have long and short formations emerging at the same time, I have colour coded long formations in shades of green, and short in shades of red.

Please have a play and let me know what you think. Hope my crazy coding isn't too outlandish.

Thanks!

youcrazykids
Counter Layout System v1.mq4
counter layout system template.tpl
Author:  GT3RS [ Mon Jan 16, 2012 7:19 am ]
Post subject:  Re: Counter Layout
Hi all!!

Mieloo: this is a VERY interesting pattern, because it clearly takes advantage of a false breakout/continuation.

We see a high, and then price break that high. Everyone thinks it will continue upwards, but the big boys are already short and we can join them! The stops under the swing lows collapse, giving immediate momentum to the move downwards.

But, of course, you already know this!! :D

Youcrazykids. Many many thanks for your indi.

Unfortunately, I've studied it and studied it, but still can't make any sense of what it's showing me!! Lol!! Maybe it will become clearer in real time? I certainly hope so, because I believe this pattern is VERY good!

Thanks!
Author:  mieloo [ Mon Jan 16, 2012 7:21 am ]
Post subject:  Re: Counter Layout
thank you, yck !

beautiful work, as i'm watching the market daily from 8 cet to 15 cet, at least, i will post here every xabc that i see.

this specific XABC the pattern works on EURUSD, i will try to identify it on other currencies also.

thanks again.

PS. i also have trouble using the indicator, in fact i find it in custom indicators, but when try to drag it on the chart, nothing happens.
Author:  mieloo [ Tue Jan 17, 2012 1:00 pm ]
Post subject:  Re: Counter Layout
more...
Author:  youcrazykids [ Tue Jan 17, 2012 3:09 pm ]
Post subject:  Re: Counter Layout
Hi Meiloo

Thanks for the alert, I'll take a look now.

Concerning the indicator file, place it in the experts directory. Because it is meant to be a trader eventually, I made it an EA, not an indicator.

Thanks

youcrazykids
Author:  youcrazykids [ Tue Jan 17, 2012 3:56 pm ]
Post subject:  Re: Counter Layout
OK, here is what the EA detected. I have highlighted the two patterns you pointed out.
Patterns.jpg
1) The first pattern was not properly picked up by the EA, because the distance between X and A was only 28 pips.

2) I played with the settings slightly, and the EA picked up X, A and B of the second pattern. It did not pick up C, as it overshot A by about 7 pips, whereby the stated limit is 1-3 pips.

It is possible that a) these patterns were almost genuine, but fell outside the criteria set down in previous posts, or b) they are genuine, and the criteria are slightly too strict.

I'm happy to refine the settings if you wish - you advice would be appreciated.

Thanks!

youcrazykids
Author:  mieloo [ Tue Jan 17, 2012 4:18 pm ]
Post subject:  Re: Counter Layout
1. the wrong thing in this pattern was the fact that from A to C we had only 3 candles, X should be the 1.2723 low. it was clear that the move left from that point.

2. this was a valid pattern on my platform :) A - 1.2797 , C - 1.2800 ... so 3 pips. i cant be sure but from your picture i see aprox. the same thing. (your 10:00 candle and 10:25 candle)

the criteria it's ok, there are some things that can differ but this is i believe the role of the human to decide if he wants to trade or not ( like A to C less then 5 candles or more then 9, XA shorter, C>A + 3 or A=C, or even A>C).

PS:

maybe this could be helpful, i don't know if you are familiar with harmonic trading or indicators,but maybe we could change one into what we need or maybe just get inspired:
http://tradingarsenal.com/forumdisplay. ... 5b1befce2f

http://www.forex-tsd.com/harmonic-tradi ... post414836

"X must be the extreme of the latest 14 bars" - i dont know if this is the best approach... maybe using zigzag ... but i believe that the indicators above can identify X. i haven't had the time to play with them yet.

another indicator is ZUP.v84 , i dont know what is the latest version, but you'll find all about it with a simple google search.

i feel this is the shorter path, but i might be wrong as indicators and programming are not my strong points.

10x
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