BonioM wrote: it seems that we've to use Open/Close values, then the code would be:

Code: Select all

if (ClAtrPeriod > 0)
   {
      if (MathAbs(iClose(NULL, TradingTimeFrame, 1) - iOpen(NULL, TradingTimeFrame, 1)) > ClAtrVal) return(false);
   }//if (ClAtrPeriod > 0)

Please correct me if I'm wrong.
Thanks a lot for your great effort that you put in BASA development.

Marcin

fxozgirl wrote:Andy (MrLong) shared an ADR Bands indicator he had a few months ago, I quite like the concept...basically similar to what Dave & Tom have discussed above, the main reason I haven't investigated further with this indicator is it seems to have strange behaviour (actually it's probably not strange at all, it's probably just my ignorance )

I have attached a chart below showing the ADR bands attached and you will see there's a nice smooth curve and then a sharp vertical drop to another completely different level. If I can figure out why that happens then this indicator could be a good filter to prevent trading well outside the usual range.

Any input would be appreciated...perhaps Andy can enlighten me/us??

adrbands.png

MrLong wrote:

fxozgirl wrote:Andy (MrLong) shared an ADR Bands indicator he had a few months ago, I quite like the concept...basically similar to what Dave & Tom have discussed above, the main reason I haven't investigated further with this indicator is it seems to have strange behaviour (actually it's probably not strange at all, it's probably just my ignorance )

I have attached a chart below showing the ADR bands attached and you will see there's a nice smooth curve and then a sharp vertical drop to another completely different level. If I can figure out why that happens then this indicator could be a good filter to prevent trading well outside the usual range.

Any input would be appreciated...perhaps Andy can enlighten me/us??

adrbands.png

Hi Shelley,

I have hard coded this function into my EA, I quickly put the bands indi together for a visual view to guide the best setting across the board of all currencies.

The cross just means price is above or below the 240 line.

The calculation is the ADR (Average Daily Range) of a currency over 200 days and I found , ADR X 2.50 away from the 240 line works well, after that it's risky to enter.

The code can be easily taken from the indi and coded as a condition for entry.

Hope this helps

Andy

garyfritz wrote:

fxozgirl wrote:Also, I'm sure (hope ) Gary will jump in here with his mathematical genious and share some more insights he may have gleaned from these results

The only things that come to mind are:

* Your ATR filter is knocking out about as many winning trades as losers, resulting in almost identical win %. That's not ideal but it IS helping overall. You might want to consider looking for some slightly different filter approach that might zero in on losers better? But with 80% wins you're already doing pretty darn great.
Yes I agree...possibly not the best filter to use in this instance, but it was no worse and it did improve the $ profit for virtually the same number of trades which is a good thing.

* All other things being equal (and they pretty much were), making $X profit in Y trades is much better than making $X profit in 2*Y trades. The larger average trade size means you're much less sensitive to slight shifts in spread, slippage, etc. You also pay less in commission/spread & so on. For that reason I'd say #1 would be my choice.

* You did a great job of back-checking this. This is MUCH MUCH better than watching it for a week or two and making decisions based on what you see in realtime. More data gives you more certainty that the change you're making actually holds up over time. Still, the different tests only change the result by a few dozen trades. That's a smaller sample than I like to use. But given that it has to be based on the live trades in your account, this may be the best you can do.
Yes, this is something I will keep an eye on...I will probably re-analyse in January to see if the results hold.
Gary

fxozgirl wrote:I hope the last 24 hours has been good for you guys...BASA went on a trading frenzy last night taking 7 trades
1 loser (closed after 2nd candle), 5 other trades all half lots closed and sitting at BE, 1 trade currently in floating drawdown. Live account currently up 1.25% since open trading this week

fxozgirl wrote:

MrLong wrote:

fxozgirl wrote:Andy (MrLong) shared an ADR Bands indicator he had a few months ago, I quite like the concept...basically similar to what Dave & Tom have discussed above, the main reason I haven't investigated further with this indicator is it seems to have strange behaviour (actually it's probably not strange at all, it's probably just my ignorance )

I have attached a chart below showing the ADR bands attached and you will see there's a nice smooth curve and then a sharp vertical drop to another completely different level. If I can figure out why that happens then this indicator could be a good filter to prevent trading well outside the usual range.

Any input would be appreciated...perhaps Andy can enlighten me/us??

adrbands.png

Hi Shelley,

I have hard coded this function into my EA, I quickly put the bands indi together for a visual view to guide the best setting across the board of all currencies.

The cross just means price is above or below the 240 line.

The calculation is the ADR (Average Daily Range) of a currency over 200 days and I found , ADR X 2.50 away from the 240 line works well, after that it's risky to enter.

The code can be easily taken from the indi and coded as a condition for entry.

Hope this helps

Andy

Hi Andy,

Thanks for commenting...the ADR bands are set as you described, but sorry for being completely thick, I don't understand your comment (in bold above)? Would you mind explaining so a 2yo would understand? Sorry

Looking at my chart attached I don't understand why the adr bands suddenly have a vertical drop/rise...I can't find any correlation in the chart??
In this instance price is steadily trending up with no massive spikes, just a gradual increase with ADR bands tracking just to either side of the range. ADR bands drop straight down and now price is all well above the top ADR band. Assuming this was in an EA, trades would not be entered as price is above the bands and therefore outside the trading range?

This is the part I don't understand! Sorry if I have this completely misinterpreted this

adrbands.png