scooby-doo wrote:Didnt know where to put this.......

Allot of EA's use a method of calculating re-entry levels when averaging in i.e. recovery systems.

I have been doing allot of thinking and testing around this area and have come up with the following.

ReEntry Pips = MathMax( Average 20 day pip movement, Average 200 day pip movement )

Obviosuly I dont want to re-invent things if they not brokern but the above is a much better methodology to use and my results so far are very encouraging.

The obvious question is why not just use the Average 20 day pip movement. Well, a symbol can range against its normal average pip movement. This can cause you to re-enter to early. So, we compare the 20 day (short) against its 200 day (long) average movement and take the highest reading.

Example: GBPCAD current 20 day pip movement is 89 (4 digit) and 200 day pip movement is 142 (4 digit). So, we use 142 being the highest. But I add 50 pips to whatever is returned so my re-entry would be 192 pips (4 digit) or 1920 (5 digit) etc.

You can also use it for calculating BarCount for High/Low which is used in The Beast and Sixths indicator etc.

All the best,

Scoobs

PS. Steve, if this is the wrong place then just move it or tell me where to move it too.

mobthehop wrote:Scoobs - thanks for sharing.....

Am I correct to assume that you are using average true range function?

Cheers

scooby-doo wrote:

mobthehop wrote:Scoobs - thanks for sharing.....

Am I correct to assume that you are using average true range function?

Cheers

No, the ATR function in Empty4 has flaws.

Just loop through the number of days you wish to look at and....

begin loop
Range = Range + (High - Low)
end loop
Range = Range / number of days you wanted

Scoobs

RentryPips = MathMax(CalculateADR(0,20),MathMax(CalculateADR(0,200));

gaheitman wrote:

scooby-doo wrote:

mobthehop wrote:Scoobs - thanks for sharing.....

Am I correct to assume that you are using average true range function?

Cheers

No, the ATR function in Empty4 has flaws.

Just loop through the number of days you wish to look at and....

begin loop
Range = Range + (High - Low)
end loop
Range = Range / number of days you wanted

Scoobs

The ADR code I posted here should give you that, skipping Sunday candles. It's a generic routine from an indicator, so it allows you to pass the bar number you want to start back from. Calling it with 0 would give the current value.

So...

Code: Select all

RentryPips = MathMax(CalculateADR(0,20),MathMax(CalculateADR(0,200));

should give you the value you are looking for.

George

morepipspls wrote:Hi,

I think it is an excellent idea and I´m testing it manually due to I don´t know how to apply this change to The Beast Code on a safety way. I´m using attached indi when I set The Beast on every pair.

I don´t understand which is the idea you trying to explain when you say we could use this information in order to calculate bar count in Sixths Trading. Could you clarify this point?. What do you think it is best way to set this parameter?

Thanks in advance.

scooby-doo wrote:

morepipspls wrote:Hi,

I think it is an excellent idea and I´m testing it manually due to I don´t know how to apply this change to The Beast Code on a safety way. I´m using attached indi when I set The Beast on every pair.

I don´t understand which is the idea you trying to explain when you say we could use this information in order to calculate bar count in Sixths Trading. Could you clarify this point?. What do you think it is best way to set this parameter?

Thanks in advance.

The Sixths indi uses High - Low based on a number of bars. i.e. 120, 168 hard coded etc. Whatever ADR returns using 4 digits (not +50, that is for ReEntry) is the BarCount value. So, currently it would return 178 for GBPJPY, 226 for GBPUSD and 136 for EURCHF. Obviously it would be different for each symbol. The minimum should be 120.

The best part of this is that we dont use a static value, why, because each pair/symbol has a different range. Yes, we could use CCI but using an average bar range across 200 days is much more likely to initiate a pull back or retrace. Ofcourse past performance/bar retraces are not indicitive of future performance but it is much more reliable going forward. From my commercial experience.

Scoobs.

morepipspls wrote:

scooby-doo wrote:

morepipspls wrote:Hi,

I think it is an excellent idea and I´m testing it manually due to I don´t know how to apply this change to The Beast Code on a safety way. I´m using attached indi when I set The Beast on every pair.

I don´t understand which is the idea you trying to explain when you say we could use this information in order to calculate bar count in Sixths Trading. Could you clarify this point?. What do you think it is best way to set this parameter?

Thanks in advance.

The Sixths indi uses High - Low based on a number of bars. i.e. 120, 168 hard coded etc. Whatever ADR returns using 4 digits (not +50, that is for ReEntry) is the BarCount value. So, currently it would return 178 for GBPJPY, 226 for GBPUSD and 136 for EURCHF. Obviously it would be different for each symbol. The minimum should be 120.

The best part of this is that we dont use a static value, why, because each pair/symbol has a different range. Yes, we could use CCI but using an average bar range across 200 days is much more likely to initiate a pull back or retrace. Ofcourse past performance/bar retraces are not indicitive of future performance but it is much more reliable going forward. From my commercial experience.

Scoobs.

Ok, thanks Scoobs. Understood. Which indi are you using?. Those ADR values (178 GBPJPY....) have important differences regarding with ADR values from my indi.