stevehopwoodforex.com
https://www.stevehopwoodforex.com/phpBB3/
Print view

EA ideas for ALR
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3744		 Page 1 of 5
Author:  Dewey McG [ Wed Jul 23, 2014 1:39 am ]
Post subject:  EA ideas for ALR
Ok--just to start the discussion and get people thinking:

We already have trend trading EA's from Spider and Madpipa which look to be OK. We can try more trend trading strategies to see if any work better, but before doing that there are three other types of strategies worth trying with this: A breakout strategy, a reversal strategy and a volume based strategy.

Personally, I suspect a breakout strategy may end up being the best. With a breakout from consolidation we hope to see a nice big move. If we are wrong, it turns out to be a false breakout and price will shoot in the opposite direction. Either scenario works fine with ALR. What we don't want to see is a long period of ranging that could generate an indefinite number of turns.

For a reversal strategy, think back to Nanningbob's 5.0 strategies where we looked for a reversal when price was up or down way past a certain level--again often followed by a strong move.

Volume based strategies ( I like using those for my own manual trades) may also be promising because a large increase in volume or a big price move accompanied by a DECREASE in volume often precede big moves.

Feel free to suggest strategies that you think may be suitable for using with ALR, but let's please present a reason that makes sense with LAR before we ask any coders to put forth a big effort just because we saw the latest fad on forex factory.
Author:  SpiderX [ Wed Jul 23, 2014 3:12 am ]
Post subject:  EA ideas for ALR
hi,

Good criteria for ALR :
TP:SL ratio should be >1 , in fact somewhere more than 2 or 3 is optimal.
If you have an idea that requires TP:SL < 1...dont think that would work at all.

cheers
Author:  excalibre30 [ Wed Aug 13, 2014 10:43 am ]
Post subject:  EA ideas for ALR
I got this idea of a strategy from slipshod's thread. http://www.stevehopwoodforex.com/phpBB3 ... f=16&t=553

It is a breakout strategy using C-Fork. I have a C-Fork indicator from here as well that gives the buy and sell signal which I use with slipshod's S&R indi and bob's Sto7.

I think it is a good idea to have ALR integrated to an EA that uses the signal from the C-Fork then confirmed by the monthly trend. I started using wealthmaster's EA to check on this. Looks promising as of the moment.
Author:  moncsicsi78 [ Sun Aug 17, 2014 10:38 am ]
Post subject:  EA ideas for ALR
My idea: not to use any indicator to indetify the trend/driection, because every of them can be false.
Instead of it it would be better to build pyramid, every new level would be protect with trailing stops.
With this method the EA would need much less trend movement to be able to close all of its positions.
And can be able to collect much more profit, than without pyramid.
pyramid.PNG
And one more thing: you can make the EA "2 sides": we can collect even more profit.
2 sides.PNG
Author:  Dewey McG [ Sun Aug 17, 2014 11:43 am ]
Post subject:  EA ideas for ALR
excalibre30 » Wed Aug 13, 2014 6:43 am wrote:I got this idea of a strategy from slipshod's thread. http://www.stevehopwoodforex.com/phpBB3 ... f=16&t=553

It is a breakout strategy using C-Fork. I have a C-Fork indicator from here as well that gives the buy and sell signal which I use with slipshod's S&R indi and bob's Sto7.

I think it is a good idea to have ALR integrated to an EA that uses the signal from the C-Fork then confirmed by the monthly trend. I started using wealthmaster's EA to check on this. Looks promising as of the moment.
Thanks. Can you post the C-Fork with instructions on how you use it?
Author:  Dewey McG [ Sun Aug 17, 2014 11:43 am ]
Post subject:  EA ideas for ALR
moncsicsi78 » Sun Aug 17, 2014 6:38 am wrote:My idea: not to use any indicator to indetify the trend/driection, because every of them can be false.
Instead of it it would be better to build pyramid, every new level would be protect with trailing stops.
With this method the EA would need much less trend movement to be able to close all of its positions.
And can be able to collect much more profit, than without pyramid.


And one more thing: you can make the EA "2 sides": we can collect even more profit.
Can you please explain exactly how you build this pyramid and how you use it?
Author:  patmontes [ Sun Aug 17, 2014 12:35 pm ]
Post subject:  EA ideas for ALR
I had a wild idea. What if we use pivot points as the ALR to buy or sell and open the first trade whether price is above or below pivot. Lot size progression dependent on pivot point distance.

Let's say for example daily open price above pivot at NY or London open then we buy. Then when price hit R1 but does not break it and if It falls below r1 we sell then if goes above some more beyond r1 then we buy... etc so on so forth

Idea 2: we use the entry by the coinflip ea in the automated trading forum then protect it with ALR...
Author:  moncsicsi78 [ Sun Aug 17, 2014 12:48 pm ]
Post subject:  EA ideas for ALR
Dewey McG » Sun Aug 17, 2014 12:43 pm wrote:
moncsicsi78 » Sun Aug 17, 2014 6:38 am wrote:My idea: not to use any indicator to indetify the trend/driection, because every of them can be false.
Instead of it it would be better to build pyramid, every new level would be protect with trailing stops.
With this method the EA would need much less trend movement to be able to close all of its positions.
And can be able to collect much more profit, than without pyramid.


And one more thing: you can make the EA "2 sides": we can collect even more profit.
Can you please explain exactly how you build this pyramid and how you use it?
To build pyramid: If an order is in profit, the EA would start to open another position in the same direction with an external adjustable distance (in pips) and an external adjustable lotmultiplier. Every new pyramid level can be protected by trailing stops. So the EA open new pyramid level in just that case when the previous levels are in profit and are protected with TS.
In the picture attached above: there is a reltive long shell position. 150 pips (as TP of ALR is 150 pips.)
Imagine how much pips you would be able to collect if this 150 pips distances were build by pyramid trades!
Author:  excalibre30 [ Sun Aug 17, 2014 1:55 pm ]
Post subject:  EA ideas for ALR
Dewey McG » Sun Aug 17, 2014 7:43 pm wrote:
Thanks. Can you post the C-Fork with instructions on how you use it?
Attached the C-Fork indicator. Pretty much just attach the indicator to the chart and it will do all the calculations and drawing of the fork itself. It is a breakout indicator as described here http://articles.mql4.com/1032 .

By the way, the article I posted has an EA attached to it but it does not seem to work. Could have been easier if it was working then just integrating the ALR code to it.
Author:  Dewey McG [ Sun Aug 17, 2014 5:19 pm ]
Post subject:  EA ideas for ALR
excalibre30 » Sun Aug 17, 2014 9:55 am wrote:
Attached the C-Fork indicator. Pretty much just attach the indicator to the chart and it will do all the calculations and drawing of the fork itself. It is a breakout indicator as described here http://articles.mql4.com/1032 .

By the way, the article I posted has an EA attached to it but it does not seem to work. Could have been easier if it was working then just integrating the ALR code to it.
Thanks. Have you used this strategy yourself? What is the win rate?
All times are UTC Page 1 of 5

Powered by phpBB® Forum Software © phpBB Limited