The Flow plus ALR

Post your EA's using ALR here
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

The Flow plus ALR

Post by Dewey McG »

There is a bug that sometimes keeps the ALR from continuing the sequence of trades. Today the EU hit stop loss but a new trade was not taken. However the display showed the trade was still active and the new trade was pending. There was no pending order.
You do not have the required permissions to view the files attached to this post.
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

The Flow plus ALR

Post by Dewey McG »

This helps to illustrate the Trade Manager. It took 10 turns before we finally got the move to give is the small profit, but it finally worked.
You do not have the required permissions to view the files attached to this post.
xfactornos
Trader
Posts: 115
Joined: Fri May 23, 2014 5:43 pm
Location: Where I am...

The Flow plus ALR

Post by xfactornos »

Dewey McG » Sun May 10, 2015 9:21 pm wrote:This helps to illustrate the Trade Manager. It took 10 turns before we finally got the move to give is the small profit, but it finally worked.
Thats awesome, even with so many losses it doesnt look as scary with only losing less than 1% each. :yahoo:
John 3:16
User avatar
mobthehop
Trader
Posts: 362
Joined: Wed Nov 16, 2011 12:16 am

The Flow plus ALR

Post by mobthehop »

I have a question for the ALR resident experts... Apologies for posting this here but this is the most active thread at moment....

Spent the last couple of days to re-read most of the ALR material here and watched most of what is available on YouTube (btw - consider this the best overall piece on ALR but is 3 hours long - https://www.youtube.com/watch?v=9MR7VLM62Y0)

I cant get my head around the following:
- does the most appropriate TP of traded (main) strategy determine the zone or is it the other way around?
- most material uses 50/150 - is there a good reason for this or is this the vanilla version and only paid members of the various "ALR Clubs" get the tools to better determine a) the zone size in pips and b) the most appropriate ratio between zone and TP?

BTW, a interesting nugget from Justin's video is that he strongly recommends to fully hedge all open orders once the respective progression sequence comes to an end without meeting the exit criteria! Then his EA should be removed and the whole sequence dissolved step by step manually....

Dewey - not sure w/r you have seen this - FF has an active thread with a similar strategy (without ALR) http://www.forexfactory.com/showthread.php?t=537112

Thanks in advance for any comments on my questions...
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

The Flow plus ALR

Post by Dewey McG »

mobthehop » Mon May 11, 2015 12:29 pm wrote:I have a question for the ALR resident experts... Apologies for posting this here but this is the most active thread at moment....

Spent the last couple of days to re-read most of the ALR material here and watched most of what is available on YouTube (btw - consider this the best overall piece on ALR but is 3 hours long - https://www.youtube.com/watch?v=9MR7VLM62Y0)

I cant get my head around the following:
- does the most appropriate TP of traded (main) strategy determine the zone or is it the other way around?
- most material uses 50/150 - is there a good reason for this or is this the vanilla version and only paid members of the various "ALR Clubs" get the tools to better determine a) the zone size in pips and b) the most appropriate ratio between zone and TP?

BTW, a interesting nugget from Justin's video is that he strongly recommends to fully hedge all open orders once the respective progression sequence comes to an end without meeting the exit criteria! Then his EA should be removed and the whole sequence dissolved step by step manually....

Dewey - not sure w/r you have seen this - FF has an active thread with a similar strategy (without ALR) http://www.forexfactory.com/showthread.php?t=537112

Thanks in advance for any comments on my questions...
50/150 is the vanilla version. You do want at least a 1:3. Depending on the volatility of the pair, 40/120 or even 30/90 may be better.

Please also have a look at the ALR 2. It is far less risky than the original which was based on the commercial versions. It also works with US brokers. It would also avoid having to do what Dustin recommended.

I have not seen that before but will have a look. I did get the idea from another thread
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

The Flow plus ALR

Post by Dewey McG »

Yuggr
Trader
Posts: 12
Joined: Thu Dec 01, 2011 11:00 pm
Location: Garden of England

The Flow plus ALR

Post by Yuggr »

I have been playing around with The Flow plus ALR method using the ALR2 EA generously supplied by SpiderX, milanese (Tommaso), Steve Hopwood, phil_trade et. al, and the place order with magic number script by Another Brian. I have found these items a great benefit but with a few limitations where the input of magic numbers buffer pips and TL/SL is concerned.

To this end I've made a few basic modifications to the supplied code for my own beifit which I thought may be of use to other semi manuel and EA traders. ALR2 can look after trades with the same magic number of the EA and AB_EA_Pending can send orders with a specific magic number.

So to the mods.

ALR2 Trade Manager v1.01 has had a small modification to save the magic number set in the EA properties to a global variable associated with the currency pair.

AB_EA_Pending script has been modified to allow for setting TP, SL and buffer pips, also Lifesys pip factor code has been added to account for different pips per currency pair. If the magic number setting is set to -1 the script will use the global variable for the magic number set by the modified ALR2 EA allowing ALR2 to take control on the first manually placed order.

The order placement has been limited to Buy and Sell stop orders only with the Buy and Sell limit order commented out.

Drag script above bid line to place a Buy Stop order at buffer pips above previous days high.
Drag script below ask line to place a Sell Stop order at buffer pips below previous days low.

Both the above comments assume that the current Bid/Ask is below/above the the previous High/Low. If not you will get an error as the order Buy/Sell Stop order is not allowed.

These two small modification will allow for order placement without manual intervention.

E.G. Place modified ALR2 on EURAUD with magic number in properties set to 345800.

Drag AB_EA_Pending onto EURAUD chart above bid line and it will place a Buy Stop buffer pips above the previous day high with TP/SL and the same magic number as the ALR2 EA on EURAUD.

Opposite for sell orders.
You do not have the required permissions to view the files attached to this post.
AnotherBrian

The Flow plus ALR

Post by AnotherBrian »

If it makes it easier for all, go ahead and re-name that script to some ALR related name, would be better since it is adapted to work with the EA you posted. I like the ideas you present, makes it easier to manage the trades.
TambaTrader
Trader
Posts: 51
Joined: Sat Jun 28, 2014 5:27 am

The Flow plus ALR

Post by TambaTrader »

Hi Dewey,

I've only just noticed how this thread has developed. As you know I've been using ALR2. I have been doing some backtesting and have found that over the long term (5 years) it is better to allow a large number of ALR turns. So your max of 15 is a good idea. There are many settings with ALR though that lose massively. You get good runs for ages e g. a year and then it gets lots of failed alr sequences in a row. From memory when I tested it with 12 turns as the max I had only 13 losses over 5 years and that one doubled it's money in 5 years. It did however have a year and a half where it was only breaking even as there were slightly more failed alr sequences than normal. I have only been backtesting eurusd and gbpusd so far.

If you tell me the sequence of trades e.g. trade 1 SL 30, Tp 90, lot size 1.2 etc. I will put it in my EA and backtest how often the alr sequence would have failed. (I can only go up to 12 turns in mine though - I need to get that changed).

I also find reducing the take profits at the end of the sequence helps. I have a lot more work to do to find the optimum ALR settings.

By the way I have a really simple EA where you manually type in the individual trades. I had it coded for backtesting purposes. I could share that if anyone is interested (the person who coded it for me said he didn't mind). Am on phone at moment so I'd have to do it later.

Shona
Dewey McG
Trader
Posts: 435
Joined: Sat Nov 26, 2011 4:20 pm
Location: Tampa FL

The Flow plus ALR

Post by Dewey McG »

Yuggr » Sun May 17, 2015 7:16 pm wrote:I have been playing around with The Flow plus ALR method using the ALR2 EA generously supplied by SpiderX, milanese (Tommaso), Steve Hopwood, phil_trade et. al, and the place order with magic number script by Another Brian. I have found these items a great benefit but with a few limitations where the input of magic numbers buffer pips and TL/SL is concerned.

To this end I've made a few basic modifications to the supplied code for my own beifit which I thought may be of use to other semi manuel and EA traders. ALR2 can look after trades with the same magic number of the EA and AB_EA_Pending can send orders with a specific magic number.

So to the mods.

ALR2 Trade Manager v1.01 has had a small modification to save the magic number set in the EA properties to a global variable associated with the currency pair.

AB_EA_Pending script has been modified to allow for setting TP, SL and buffer pips, also Lifesys pip factor code has been added to account for different pips per currency pair. If the magic number setting is set to -1 the script will use the global variable for the magic number set by the modified ALR2 EA allowing ALR2 to take control on the first manually placed order.

The order placement has been limited to Buy and Sell stop orders only with the Buy and Sell limit order commented out.

Drag script above bid line to place a Buy Stop order at buffer pips above previous days high.
Drag script below ask line to place a Sell Stop order at buffer pips below previous days low.

Both the above comments assume that the current Bid/Ask is below/above the the previous High/Low. If not you will get an error as the order Buy/Sell Stop order is not allowed.

These two small modification will allow for order placement without manual intervention.

E.G. Place modified ALR2 on EURAUD with magic number in properties set to 345800.

Drag AB_EA_Pending onto EURAUD chart above bid line and it will place a Buy Stop buffer pips above the previous day high with TP/SL and the same magic number as the ALR2 EA on EURAUD.

Opposite for sell orders.
This is great Yuggr. Can you out this on a new thread under ALR so it will be easier for everyone to find?

Cheers
Post Reply

Return to “Automated Loss Recovery”