Thanks again Peterke,
I'm not so sure about the "DAFT" part of that EA of yours...
Some background. I spent a lot of time analysing stats for various currency pairs using the attached indicator. I like it because it uses 20, 10, 5, and 1 days ADR/4 to give an average. This means that the most recent activity has the same weighting as 20 days ago.
Even so, its still an historical figure. An ADR of 250 after a period of volatility usually means a decrease in ADR will follow. But your EA is now using 250 because of recent volatility and sets the grids wider...but volatility has now decreased so no trades are taken. Then as ADR reduces to an average of say 180 the grid sizes get correspondingly smaller. You get increased trade activity but then volatility spikes to 280 and price takes off filling a lot of levels which makes the draw down go hay wire.
What I did was analyse daily ADR stats for each pair over a 2 year period and got an average. As per Nanningbobs stats re pairs volatility I found that you could put pairs into 3 groups. I then tested those settings 100's of times over various periods of time with various settings. I found that an opening grid of 50 was a good average but it had to increase each level by 50 each time otherwise price could easily run past 10 levels without retracing enough to hit TP. It was remarkable how many pairs ADR were not that far from each other.
Some pairs like AudNzd, EurChf and EurGbp I decreased the first level to 40 to get more activity and with EurNzd, GbpJpy and GbpNzd I increased to 60. The rest did ok with 1st level set at 50. Then when I started trading I set a target of $50 (not pips) per trade as I had a fair idea of how many trades TP every day (about 10 a day). That meant I could aim at an account increase of a certain % and then that would determine the settings I would use.
That said...I still like the idea of using ADR. User Name jumped on this this weekend and produced an EA which I tested this weekend and have running on demo at the moment. I asked him to leave the OR levels settings because based on what I said above those are tested and proven settings.
Here is UN's explanation below
"...and here is your ADR version based on 20,10,5 and 1 days average ADR. The settings might be a liitle conceptual but this way you keep the flexibility. The extra setting is "FiftyPipIsPercentADR". If you fill in 0 then the ADR function is switched off and the OR sizes are determined by the OR sizes you enter in the settings (as per current version). If you want to use the ADR function, you enter a percentage (25, 50 etc) but you must also enter the OR sizes like with the current version.
What I have done is the following. The percentage you enter will be act as a multiplier to the OR you entered but based on ADR. Example: the ADR of a pair is 200 pips. In the OR settings you entered 50, 100, 150 etc. as per usual. In the FiftyPipIsPercentADR setting you entered 50. The following calculation happens: OR for this pair should be: (ADR * (FiftyPipIsPercentADR/100))/ 50 * entered OR size. so in this case (200*(50/100)/50*50 (first entered OR) = 100. So although you entered an OR level of 50 pips, the EA will use an OR of 100 pips (because the ADR is twice as large as the base calculation of 100 pips).
The setting are displayed in the management data on the left and of course in the summary of each trade below the settings on the screen.. The reason I did it this way is you keep control over the OR sizes and relative distances, only now they are compensated for the ADR. Eur/usd is used as a base because it;s ADR is about 100, so these distance is EU are recalculated for each pairs ADR"
I have posted Fx Pooler 6c2 no print ADR in Post 1