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Manually trading SAFT to see if its profitable
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=767		 Page 4 of 7
Author:  dakuki [ Thu Aug 23, 2012 10:02 am ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
Typical seems best to me....
Author:  dakuki [ Thu Aug 23, 2012 12:42 pm ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
Hello Slipshod,

Would it be possible for you to make your Enhanced OBV a multi-timeframe one??...Would like to try something...if worth it, will let it be know here...THANK YOU!
Author:  slipshod [ Thu Aug 23, 2012 3:37 pm ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
I'll have a look over the weekend, shouldn't be too hard.

Profitable day today trading purely renko & constant range bar charts. There's a bit of a problem with renko in how it handles volume. One bar can include a dozen candles in a sideways consolidation, which means a ton of volume assigned to that bar. Then when the price breaks out, on the time chart its usually a high volume, high spread candle or two, but on a renko the big candle is split up into little ones & the volume is miniscule compared to the consolidation candle.

All this results in periods where the OBV (and other volume based oscillators) is flat or moves contrary to where the price is going.

I've come up with a solution on the CRB side of things, by setting the CRB bar's volume to the maximum volume of the various time candles it contains, not the total. Still not perfect as when one big time candle is split into multiple CRBs only the first has the volume & the others have none, but at least OBV etc work properly. I've uploaded the new CRB indicator here: http://www.stevehopwoodforex.com/phpBB3 ... f=27&t=570 if anyone's interested.

I still can't say whether I think price based candles is the way to go with the SAFT method. More testing is needed, a lot more. If I recover the losses and send the account into profit then I'll be a lot more confident & start posting charts and maybe working on that pdf. I'm thinking though that it'll be too far removed from Evaluator's system by the time its done, so I'll have to come up with another name if I get that far. Pity Jaws of Death is already taken!
Author:  dakuki [ Thu Aug 23, 2012 4:37 pm ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
hahaha. funny!

It's a shame you are more driven towards crb then renko since I mainly trade renko.

Suggestion for name: PVP (Pure Volume and Price)
Author:  dakuki [ Thu Aug 23, 2012 7:58 pm ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
Hi Slipshod...Could you make me a simple favor please?

When I change the width of the line in your Enhanced OBV (which I find the best on Renkos) it always snaps back to the default width when I reload the chart. Would it be possible to chnage that so that it stays in the chosen width?

Thank you very much!
Author:  slipshod [ Thu Aug 23, 2012 11:59 pm ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
That's what Empty4 does with custom indicators I'm afraid. 2 ways around it - when you've set the chart up how you like, save it as a template which you can then reload when needed. The other is to mess with the indicator's code so that its always your preferred width. Template is easier ;)

Renko, CRB, standard candles, don't matter to me which is used. All I care about is that it works! Renko is by far the neatest looking of course, Time candles are the messiest, and CRB somewhere inbetween. If I get a chance I'll look into the volume side of things with Renko...
Author:  slipshod [ Fri Aug 24, 2012 4:32 am ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
Here's an example of what I mean re Renko and the way it calculates volume. Here's what you'll get when you use the latest & greatest Renko indicator (which I believe is MTF_RenkoLiveChart_v1.0)...
saft-renko1.png
The volume looks weird & the OBV is totally unusable for portions of this chart. In the second pic below I've added an option to make each Renko bar hold only the Maximum Volume of any of the time-bars that it contains, rather than adding their volume up...
saft-renko2.png
Its not perfect, I'm not happy with empty volume on bars when the price spikes, but I'm unsure how best to handle that situation. Anyway, there's now a consistent flow of volume and OBV performs very well indeed.

I've attached the modified Renko EA below.

Edit: Btw I'm starting to think that on these renko/CRB charts Accumulation/Distribution is a superior indicator to OBV...

Edit2: Look for VolumeMethod2 in the EA's options and set it to true, otherwise it'll produce standard Renko volume.
Author:  dakuki [ Fri Aug 24, 2012 6:18 am ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
Hello slipshod,

Thank you very much for this idea and work!

I compared the MTF Renko EA you used for this to the attached one I use. I find that the attached one gives smoother/less noisy results, making for better trading.

I would be very very grateful if you could apply the same volume logic to the attached one!

Best wishes from Germany this time!
Dan
Author:  slipshod [ Fri Aug 24, 2012 6:23 am ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
Hi Dan, I'll certainly take a look at that indicator, but its an ex4. I'd need the sourcecode (mq4) to make any changes. Btw in what way is it smoother? I turned the "tails" option on for those screenshots as I like to know what the price did & what the actual peak & valley prices were, but you can disable it by setting the option to false & just see plain renko boxes instead.
Author:  dakuki [ Fri Aug 24, 2012 6:54 am ]
Post subject:  Re: Manually trading SAFT - with some other stuff tacked on
Hi!

Am just trying to get it decompiled into mq4., might take a while since I am not well versed with Empty4 programming itself.

The Renko EA I attached above simply keeps you better in a trend, sends less 'false' renko color bars. No idea why.
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