Freedom787 wrote:Steve,

I've been watching the EA mark pinbar opportunities over the past couple weeks, and while watching the charts I noticed something I thought I'd share.

I know you don't think much of Renko charts as I've seen your comments in the last Renko EA you coded, but I've been trading a Renko chart for the past few weeks, and I noticed that if you have Renko with Wicks, the wicks present themselves with some decent trading opportunities. Maybe this is outside of the scope of this conversation so don't blast me but I thought it might be interesting if you applied concept of looking for a 8-9 pip wick and then took the same direction of the candle on the candle opening.

The picture attached are 10 pip renkos. If you grab 5-8 pips per trade with a 10 pip SL, I think there could be a good 70% success rate.

I'll start a new thread if this is too far outside the scope of this EA, but I thought while we were measuring and positioning wicks, this may be appropriate.

fx8000 wrote:Hi Steve,

Thank you very much for yet another very interesting ea.

Two suggestions :

1. As trading the PIN BAR is a reversal strategy, rather than waiting for the pin to break a support/resistance to trigger a trade, should it not be the pin either touching/breaking the pivot in bar[1], then close below/above the pivot in bar[0], resulting in a false break or fakey.

2. Rather than entering the trade by using bid/ask, shouldn't we be using a pending order above/below the nose of the pin bar plus buffer (5 to 10 pips) as described in the attached pdf.

Just a thought. Just ignore if my suggestions do not make sense.

peter

SteveHopwood wrote:

fx8000 wrote:Hi Steve,

Thank you very much for yet another very interesting ea.

Two suggestions :

1. As trading the PIN BAR is a reversal strategy, rather than waiting for the pin to break a support/resistance to trigger a trade, should it not be the pin either touching/breaking the pivot in bar[1], then close below/above the pivot in bar[0], resulting in a false break or fakey.

2. Rather than entering the trade by using bid/ask, shouldn't we be using a pending order above/below the nose of the pin bar plus buffer (5 to 10 pips) as described in the attached pdf.

Just a thought. Just ignore if my suggestions do not make sense.

peter

Thanks Peter. I coded P as I coded him because that was how I coded him, not because I had spent several months fine-tuning a manual trading strategy. The whole thing is an experiment.

I am not going to change my version just yet. You are able to make the changes you suggest for yourself, so how about doing so and experimenting on demo? If your idea turns out to have legs we can adopt it.

Thanks for your thoughts. Keep them coming.

patman wrote:Steve,

In Post 1 it says that
"LibSSSRv2.mq4 goes in your Empty4/Experts/Include folder"

In the zip file from slipshod's thread it says that
LibSSSRv2.mq4 goes in your Empty4/Experts/Libraries folder
and that you must open it in Metaeditor and compile it.

regards
pat

SteveHopwood wrote:

patman wrote:Steve,

In Post 1 it says that
"LibSSSRv2.mq4 goes in your Empty4/Experts/Include folder"

In the zip file from slipshod's thread it says that
LibSSSRv2.mq4 goes in your Empty4/Experts/Libraries folder
and that you must open it in Metaeditor and compile it.

regards
pat

Thanks Pat, but no it doesn't. Read the extensions more closely.