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Gridtrading from daily open
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Author:  Zennor [ Thu Apr 14, 2016 1:56 pm ]
Post subject:  Gridtrading from daily open
Gertje » Thu Apr 14, 2016 2:51 pm wrote:Hi Zennor,

I agree completely, am doing similar stuff.
First I hesitated, just to see how it would work out but we're simulating real trading so close them out and start over again.

For the ADR I have a nice indi that goes RED when ADR has been reached, I attached it for all to play with.
It's copyright protected, so just the .ex4

.
Nice indi that one Gertje, many thanks... :good:
Author:  vsmakkal [ Thu Apr 14, 2016 2:09 pm ]
Post subject:  Gridtrading from daily open
Thanks for the indi and all the insights, Gertje. Kudos to Zennor and Bruster,too.. All these discussions really help the rest of us. Thanks, mates

Sara
Author:  Gertje [ Thu Apr 14, 2016 2:39 pm ]
Post subject:  Gridtrading from daily open
Maybe these 2 indi's can be of help as well.

- Daily open line; obvious. Change colour to your liking.
- 10.7 LINE OF ZERO; took this one from Bob's 10.7 thread, it draws a line where BE is reached. Works also when hedged. When no orders are found or 1:1 hedged there is no BE, and it sticks on the ask-level.

.
Author:  Zennor [ Thu Apr 14, 2016 2:53 pm ]
Post subject:  Gridtrading from daily open
OK DD, this is the biggest killer of this system.

Given that a large percentage of trades get triggered and hit TP without any hindrance we have scope for manoeuvrability here.

So again just throwing this out there for consideration and discussion.

Given that the killer trades are the ones where we are sat on the wrong side of 3+ grids due to the huge amount of trades required to negate this, is there a way to reduce this?

Well firstly we could move all trades to BE at +2 grids going in our favour.
Secondly and I have just done this to the EURJPY pair if you have 1 negative and the price goes in your favour you need 5 and a bit trades to negate this, price could go 4 in your favour and reverse, nightmare now you need like a gazillion trades to negate them should they go against you so how about taking a small hit at the 3rd trade.

So 1 trade goes up one grid and reverses, goes down 4 levels and SL set at the 3rd grid and closes for a small loss.

Or close at grid 2 if only grid 3 hit for a slightly larger loss.

Of course this will not totally negate DD because you could have +1 -2 +3 and so on with an ever expanding grid pattern, doesn't happen that often granted but it could do in which case just bend down and kiss your ass goodbye.. Just kidding, when this happens hopefully you would have made enough to say sod it, shut the trade down go on a nice Caribbean holiday with the rest of the money you've made, come back and start again. :smile:
Author:  Bruster400 [ Thu Apr 14, 2016 3:49 pm ]
Post subject:  Gridtrading from daily open
Zennor » Thu Apr 14, 2016 3:53 pm wrote:OK DD, this is the biggest killer of this system.

Given that a large percentage of trades get triggered and hit TP without any hindrance we have scope for manoeuvrability here.

So again just throwing this out there for consideration and discussion.

Given that the killer trades are the ones where we are sat on the wrong side of 3+ grids due to the huge amount of trades required to negate this, is there a way to reduce this?

Well firstly we could move all trades to BE at +2 grids going in our favour.
Secondly and I have just done this to the EURJPY pair if you have 1 negative and the price goes in your favour you need 5 and a bit trades to negate this, price could go 4 in your favour and reverse, nightmare now you need like a gazillion trades to negate them should they go against you so how about taking a small hit at the 3rd trade.

So 1 trade goes up one grid and reverses, goes down 4 levels and SL set at the 3rd grid and closes for a small loss.

Or close at grid 2 if only grid 3 hit for a slightly larger loss.

Of course this will not totally negate DD because you could have +1 -2 +3 and so on with an ever expanding grid pattern, doesn't happen that often granted but it could do in which case just bend down and kiss your ass goodbye.. Just kidding, when this happens hopefully you would have made enough to say sod it, shut the trade down go on a nice Caribbean holiday with the rest of the money you've made, come back and start again. :smile:

I like your thinking. I think the BE at +2 (unhedged) is a easy idea to implement and could save some DD. Starting to close out trades on the retrace will get complicated - why don't you wait to see what Rinse and Repeat can come up with over the next couple of weeks and you might have your solution already done for you! Just my thoughts - if you decided to try your closing out methods I'd be interested to know how it goes.
Author:  pascalx [ Thu Apr 14, 2016 4:15 pm ]
Post subject:  Gridtrading from daily open
SteveHopwood » Tue Mar 29, 2016 11:26 am wrote:I missed out an "=" sign from line 296
if (pass = 1)

should be

if (pass == 1)

:xm:
You can protect yourself from such mistakes by writing if (1 == pass) { }
Author:  Bruster400 [ Thu Apr 14, 2016 4:18 pm ]
Post subject:  Gridtrading from daily open
All,

I'm putting way too much thought into this (and not getting much work done!). I figure I can work at weekends :smile:

Anyway, there's been a general theme so far that pairs with higher ADR are better because they move more. I've just been looking at this and that's only one part of the story. We want pairs that are moving a lot in one day, yes, but ideally we also want them to be trending strongly in order to dig us out of DD if we get hit with some hedged trades. On the trending side, ADX is often used to indicate the trend strength.

So with this in mind should we be looking to trade those pairs that have high ADR AND high ADX? Combining the two might be an interesting filter (if you're looking for one!).

It's just an idea anyway, but since I'm currently learning MQL4 I thought I'd share an indicator I've written for this. Please take "currently learning" into account with your feedback - I already know it's not up to the standards of real coders. I've positioned it so that if you have lots of charts open small, you can still see it. I've also set a toggle on the text - but leave it on initially to make sure that it's picking up the right values for your feed.

I'll admit upfront that I have no evidence of this improving the results of this EA but it will help anyone that wants to test it. Just thought I'd share.

Edit: Updated "ATR" to "ADX" in input setting header
ADX with ATR Volatility.mq4
Author:  vsmakkal [ Thu Apr 14, 2016 4:32 pm ]
Post subject:  Gridtrading from daily open
Thanks, bruster.. Will try it out..
Author:  SteveHopwood [ Thu Apr 14, 2016 4:36 pm ]
Post subject:  Gridtrading from daily open
V 1c is in post 1.

Scroll down to the Atr inputs. I have added:
  • MinimumAtrToAllowTrading: GW will not trade if the atr is less than this figure. Default is 100 on the 20 D1 atr.
  • The ability to use atr to calculate the global take profit. I am assuming the inputs are obvious.
:xm:
Author:  Gertje [ Thu Apr 14, 2016 5:44 pm ]
Post subject:  Gridtrading from daily open
SteveHopwood » Thu Apr 14, 2016 4:36 pm wrote:V 1c is in post 1.

Scroll down to the Atr inputs. I have added:
  • MinimumAtrToAllowTrading: GW will not trade if the atr is less than this figure. Default is 100 on the 20 D1 atr.
  • The ability to use atr to calculate the global take profit. I am assuming the inputs are obvious.
:xm:
Thanks Steve,

2 really usefull additions!
:hi:
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