Peaky on Steroids will be:

A multi-pair bot so we do not need hundreds of charts open.
Capable of trading 4 time frames per pair. You could be buying and selling the same market at the same time. Retraces will be a thing of beauty, not of pain.

SteveHopwood » Fri Jun 23, 2017 9:48 am wrote:

Ezzy » Fri Jun 23, 2017 2:40 am wrote:Lol.....you can't do that Steve leaving us hanging like that, waiting for next week already feels an eternity

I suppose it is a bit mean. Here are three charts I have prepared as illustrations in the documentation.

GJ H1 - my live trading time frame:

The market is moving down from its peak high. I would long ago have snaffled (and did) my 100 pips take profit and be awaiting the next peak low. Traders happy to hold their trade until the next PL would be lots and lots and lots of pips to the good yet crying at every retrace and the swap costs. Not to worry; they will profit big time and soonish.

The blue rectangle highlights a retrace. Remember me writing, ".... cycles within cycles within cycles ......" in the user guide?

Here is the same pair but on the M5. The blue rectangle is the one I drew on the H1, extended slightly:

Here the market emerged from the trading area and hit tp quickly. It fell back into the trading area three times more. Peaky would have sent two more buy stops on two of those occasions, both of which hit tp - look over to the just past the middle of the box and then to right. That is +90 available both to me as the 100 pip tp guy, and to the hundreds and hundreds of pips guy, now laughing all the way through the retrace.

It gets getter still. We know the market is eventually going to a new PL. The retrace will end. Here goes:

The PH you can see is the current peak high. The two previous rectangles mark trades from the previous PH's; I have not measured precisely, but that looks like another +90 using a TP of 30.

That is +180 where I would not have been trading at all and the longer term guys would have been gritting their teeth through the retrace and snarling at the swap costs.

You can repeat this exercise for yourselves to see the power involved:

• Pick a higher time frame and see which direction the market is moving.
• Highlight a recent retrace - has to be a recent one or the lower time frames will not have enough bars on their chart to show your highlighted box.
• Change time frames until you find one with a peak inside your highlighted box and see how many pips you could have made during the retrace.

Peaky on Steroids will be:

• A multi-pair bot so we do not need hundreds of charts open.
• Capable of trading 4 time frames per pair. You could be buying and selling the same market at the same time. Retraces will be a thing of beauty, not of pain.

The big work in PoS is upfront. Four time frames involve four sets of all the usual inputs - time frames, magic numbers, trade comments, take profits etc. These need translating into arrays to make coding much easier during function calls and this takes time. This is why it will be next week, at least, before PoS emerges blinking into the daylight. It will be a monster when it does.

Note to my US cousins: time for Revolution, my friends.

SteveHopwood » Fri Jun 23, 2017 5:48 pm wrote:

Ezzy » Fri Jun 23, 2017 2:40 am wrote:Lol.....you can't do that Steve leaving us hanging like that, waiting for next week already feels an eternity

SteveHopwood » Fri Jun 23, 2017 9:48 am wrote: Peaky on Steroids will be:

• A multi-pair bot so we do not need hundreds of charts open.
• Capable of trading 4 time frames per pair. You could be buying and selling the same market at the same time. Retraces will be a thing of beauty, not of pain.

Zool » Fri Jun 23, 2017 10:55 am wrote:Steve this will be huge! Thank you for your effort to put this together, and your kindness to share it with us!

As my small contibution to this:
I've modified the Sixths_As_Bands indicator, so it can be used to visually backtest those retracement patterns (to find optimal values etc.). You wrote: "The two previous rectangles mark trades from the previous PH's; I have not measured precisely, but that looks like another +90 using a TP of 30". With this modified indicator you can see where were the sixths lines at that time (the "30 pips here probably" was good, the "And here?" wouldn't been a trade, but there was a trade just before that completed with the big drop later).

There is an input to choose between Close and High/Low price for the sixths calculation. I added it there because the original sixths as bands indicator used high/low values to calculate the sixths, but in the peak hi/lo and peaky, the close price is used to calculate the sixths (usually not a big difference but big spikes can mess things up between the 2 method).

SteveHopwood » Fri Jun 23, 2017 11:41 am wrote: Thanks Zool. I have linked it in post 1.