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Engulfing Outside bar
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Author:  gaheitman [ Fri Dec 16, 2011 8:58 am ]
Post subject:  Engulfing Outside bar
SERIOUS WARNING
  • Most Forex traders lose all their money.
    Using the robot posted here in trading Forex does not guarantee success.
    Trading this robot could lead to serious financial loss.
    Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
    This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
    At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
    To trade this robot, you have to understand:
    • How to use EA's.
      The trading system in the attached pdf
Over at FF, smilee89 proposed a system to trade engulfing bar reversals. Read about it here.

Alpenkorps brought it to our attention here and this is the result.

Strategy
Using a higher time frame of your choice (1 and 4 hour are mentioned) take a sell after the current bar takes out the high of the previous bar and then comes back down to take out the low.

TP is dependent on the higher time frame selected, 15 pips for 1Hr and 20-25 for 4-hr are mentioned
SL is set at the high of the previous bar plus a cushion. The EA is coded to use 2*spread.

Reverse for buys.

I have attached an indicator to help visualize the rules. See this for more information about the indicator.

EA inputs
You will find descriptions of many of the inputs in the attached Shell User Guide. This covers most of the widely used, generic inputs. Since the shell EA code contains so many more options that the strategy calls for, the OOTB settings are not necessarily consistent with the strategy and may not even make sense. After sufficient testing we may come up with meaningful OOTB settings. Until then, be sure to review them.

Strategy-specific inputs are:
  • BarTimeFrame - Can be any of the standard chart timeframes in minutes (default=60)
    PadPips - Number of pips price has to move beyond the extreme of the previous bar to trigger the trade (default=1)
    UseATRFilter - Implement a filter to not trade when the previous higher time frame bar exceeds the ATR by a set percent (default=false)
    ATRFilterPercent - Percent of ATR to use in filter (default=200)
    ATRFilterPeriod - Periods to use in calculating ATR (default=10)
    MaxCandleSize - Do not trade if previous higher time frame bar exceeds this value, if non-zero (default=0)
    MinCandleSize - Do not trade if previous higher time frame bar is less than this value, if non-zero (default=0)
Overall trading direction
There is a panoply of trend-detection mechanisms for deciding on the direction of your trades. I have included Hanover and CBI - not sure that CBI has a part to play here but we shall see.

Sharing with FF
Feel free to upload the EA to FF, once we've achieved a level of stability.

In conclusion
This is the first EA I've "published" here, and while I've spent a good amount of time in Steve's code, I don't know it as well as he does.

EA coding
Steve receives many requests to code EA's. If you want him to code your EA without sharing, then his fee is $100 payable into his paypal account. He explains why at http://www.forexfactory.com/showthread. ... ost4431794, at the bottom of the post.

Useful utilities/EA's/scripts
MaryJane has posted a fabulous utility to allow us to resize EA input windows: here
Multi purpose trade manager: here
Account equity analyser: here
Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work here
Steve's shell EA – the code we all use to produce EA's so quickly. :D http://www.stevehopwoodforex.com/phpBB3 ... p?f=5&t=15

Let the bug reports begin!

EDIT: Newest version includes a simple martingale position size multiplier.
Author:  gaheitman [ Fri Dec 16, 2011 9:06 am ]
Post subject:  EA Display
The display I use is slightly different from the standard shell. See below.
pic_03 2011-12-16 04.05.gif
The "Taking trades" display currently only shows the results of checking to see if we are in one of the defined trading times. I will be adding additional checks later.

As you can see, this bot supports all three time zone settings. I don't know what the particulars are for this strategy, so the settings are just defaults.

Finally, when the bot is looking to place a trade, it will state so and the level it is looking to get in at.

George
Author:  DING [ Fri Dec 16, 2011 11:44 am ]
Post subject:  Re: Engulfing Outside bar
Hi George,

your post seems lost a FFCalh indicator :?:
Author:  gaheitman [ Fri Dec 16, 2011 11:51 am ]
Post subject:  Re: Engulfing Outside bar
Added to the first post.
Author:  SteveHopwood [ Fri Dec 16, 2011 1:20 pm ]
Post subject:  Re: Engulfing Outside bar
Fabulous. I shall play with this next week. The markets may be quiet, but there is always some movement somewhere.

Cheers.

:D
Author:  Alpenkorps [ Fri Dec 16, 2011 3:13 pm ]
Post subject:  Re: Engulfing Outside bar
Great work George :) Many many Thanks !

I'll test it at the coming week. Meanwhile, is it possible to make it a multi-pair trader? Right now, I use this strategy on 15 pairs at a same time, that means 15 charts open with 15 ea with different magic number. Would love to get rid of the mess.

Even before testing, I can say that you will see very good results with this one. At 4H, you wont see much trades but win ratio is incredible. I use 1H, get 5-6 trades a day, 40 pips shouldn't be a problem.

Again many Thanks George ... I love the new toy :D will post my trades here.
Author:  gaheitman [ Fri Dec 16, 2011 3:41 pm ]
Post subject:  Re: Engulfing Outside bar
Alpenkorps wrote:Great work George :) Many many Thanks !

I'll test it at the coming week. Meanwhile, is it possible to make it a multi-pair trader? Right now, I use this strategy on 15 pairs at a same time, that means 15 charts open with 15 ea with different magic number. Would love to get rid of the mess.

Even before testing, I can say that you will see very good results with this one. At 4H, you wont see much trades but win ratio is incredible. I use 1H, get 5-6 trades a day, 40 pips shouldn't be a problem.

Again many Thanks George ... I love the new toy :D will post my trades here.
I was thinking along those lines already when I saw how infrequently the trades trigger. I was also thinking of making it multi-higher time frame as well. In for a penny, in for a pound. :D
Author:  380273421 [ Fri Dec 16, 2011 3:54 pm ]
Post subject:  Re: Engulfing Outside bar
i will try thanks your work
Author:  Alpenkorps [ Fri Dec 16, 2011 3:55 pm ]
Post subject:  Re: Engulfing Outside bar
gaheitman wrote:
I was thinking along those lines already when I saw how infrequently the trades trigger. I was also thinking of making it multi-higher time frame as well. In for a penny, in for a pound. :D
Brilliant !! :idea: :idea: Multi Timeframe would definitely help catching some big fishes while also catching the regular tuna :D

We will need a max_spread filter, also a min_30dayrange filter would be nice. Different Lot/SL/TP/BE settings for different timeframes.

Carry on George, Have a nice weekend.
Author:  380273421 [ Fri Dec 16, 2011 4:42 pm ]
Post subject:  Re: EA Display
gaheitman wrote:The display I use is slightly different from the standard shell. See below.
pic_03 2011-12-16 04.05.gif
The "Taking trades" display currently only shows the results of checking to see if we are in one of the defined trading times. I will be adding additional checks later.

As you can see, this bot supports all three time zone settings. I don't know what the particulars are for this strategy, so the settings are just defaults.

Finally, when the bot is looking to place a trade, it will state so and the level it is looking to get in at.

George
no order。。
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