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Zennor's Piproid
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Author:  Zennor [ Sat Apr 11, 2015 4:55 pm ]
Post subject:  Zennor's Piproid
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.
    • Basic market retrace events.
    • The concept of basket trading (see below).
The idea behind the Zennor Piproid EA is to use PipCruisers excellent system on a shorter timescale IE the 4H charts. The system is basically a short term trend catching system and instead of using conventional Take Profits and Stop Losses the idea is to capture small moves over a wide range of currencies and to use a basket trade manager to manage the trades.

Pipcruiser's system is this: when the previous monthly and weekly candle are going in the same direction i.e. both up or down, then wait for a daily candle to go in the opposite direction; set up a pending trade x pips above/below the previous daily candle's high (for a buy) or low (for a sell). Move the trade if it does not fill during the day, so that it follows the market at the open of each new daily candle.

Pipcruiser commissioned Steve to code an ea for his system, and so was born Pipcruiser's Pipmasher (http://www.stevehopwoodforex.com/phpBB3 ... =91&t=3874). Nanningbob in the HGI thread posited the idea of multi-level trading in a grid of secondary trades to follow when the market takes off in the direction of the primary trade. Steve added this to PP, and so was born Pipcruiser's Pipmasher on Steroids (http://www.stevehopwoodforex.com/phpBB3 ... =91&t=4098) widely known as PPoS.

I needed one extra feature, so I commissioned Steve to create an updated version of PipCruiser's EA. Steve named it Zennor's Piproid – no ego there I promise. You know what he is like for naming bots.

Steve has kindly supplied a detailed user guide and the OOTB settings should suffice as an apt starting point. ZP has all the usual stuff, so read the details in the pdf. CSS, Slope etc play no part here, but they are available for your experimentation.

The idea behind the system is to catch small term trends and use a basket manager to close the trade when a certain balance percentage or monetary value was reached.

The default values look at the W1, D1 and DV (5) candles used for the Trend and the 4H as the trigger candle. DV stands for Days Various; if the close of the previous daily candle was above the open of Days Various days ago, then the DV trend is upwards; vice versa if the candle closed lower than Days Various days ago. By default, the Weekly, Daily and Days Various candles must align, then the H4 candle must close in the opposite direction to trigger sending a grid of Main Trade and the user's choice of MultiTradesMax Multi-level trades. The time frames are fully configurable, so the inveterate tinkerers can tinker inveterately to their heart's content.

Both Main and Multi Trade pending trades are placed at an ATR value to ensure a much more balanced Trade activation due to the wide range of ATR values which can range from 20 Pips to over 90 Pips.

Again due to currency pairs not being equal one lot size does not fit all and that is why there is the option to place trades based upon a risk percentage using the ATR value for the calculations but without the stops being placed. Remember we are basket trading so Stop losses are of little value. However I know a lot of people prefer the set lot size and for this reason it is the default setting.

When a trend changes the last thing we want is a lot of pending trades sat there waiting to be hit. So when the trend changes from up or down to a mixed trend the EA will delete all pending trades and wait for the next set up.

There are a few Basket trade managers that you can use in conjunction with this EA.
Steve's own MPTM---click----> http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64
Baluda's dedicated Multi-Purpose Basket Manager ---click---->
http://www.stevehopwoodforex.com/phpBB3 ... 112#p16112
Tomasso's own simple allPairBasketManager---click----> http://www.stevehopwoodforex.com/phpBB3 ... =21&t=4081
Or the freely available Equity Sentry available here.
https://www.ea-coder.com/equity-sentry-free-Empty4-ea/

As the system and EA are experimental I can only give you a general guide as to how you manage the trades.

In order to do that you must understand what the EA/System is trying to achieve.
It is trying to identify short term trends by multiple currency pairs, hop on and bank some quick pips. If you set your targets too high or your lot sizes too small to hit those targets quickly and I am talking within one days trading then the quick trend you hopped onto may reverse and end up being a long term losing trend. That being said you want to give the system room to breath for when a triggered trade goes against you and it will you need to have enough space to allow the winning trades to trigger and engulf the odd losing trades and when they do it usually happens quite quickly.

So to that end keep your target profits low 1% - 3% and your breathing room 10% - 30%.
After a while you will get a feel for what can be made over a certain period of time and use that to guide your basket stop loss.

The EA is extremely versatile and can be traded on ALL time scales so have a play around with it and post your ideas, results, good or bad to help fine tune one of the very few EA's around which uses no lagging indicators just price action.

Enjoy.


Subsequent edits:

Basket trading
Individual trades do not matter when we trade our entire position as a 'basket'. Rather like paying for our shopping, the overall cost is the total of all the items in our basket. In trading terms, we are looking for profit on the good trades to overwhelm losses on the bad ones and allow us to close the entire position at a profit point of our choosing.

Inputs not in the user guide
CloseMarketTradesOnTrendChange: ZP has always deleted pending trades when the trend is no longer in favour of the pending trades, but left any open market orders in place. The input tells ZP to also close market trades if it is enabled.
.
Author:  SteveHopwood [ Sat Apr 11, 2015 4:56 pm ]
Post subject:  Zennor's Piproid
I want you to know guys just how generous Pipcruiser and Zennor have been.

Both have paid me to code their EA's for them, having stated immediately on contact with me that they will share EA's with our wider membership.

This is exceptional generosity and I applaud both of them for it. :clap: :clap: :clap:

:xm:
Author:  wolfeman [ Sat Apr 11, 2015 6:18 pm ]
Post subject:  Zennor's Piproid
Wow, this sounds very well thought out Zennor.... looking forward to a run with it! Thanks :good:
Author:  forextraderaz [ Sun Apr 12, 2015 4:00 am ]
Post subject:  Zennor's Piproid
Thank you!
Author:  Kennard [ Sun Apr 12, 2015 6:50 am ]
Post subject:  Zennor's Piproid
SteveHopwood » Sun Apr 12, 2015 2:56 am wrote:I want you to know guys just how generous Pipcruiser and Zennor have been.
Thanks a lot to all of you guys for your kindness
Author:  SWG123 [ Sun Apr 12, 2015 11:32 am ]
Post subject:  Zennor's Piproid
Zennor » Sat Apr 11, 2015 6:55 pm wrote:.... no lagging indicators just price action.
And guess what? It works ... ;)

Thanks guys, you are all stars.
Author:  SteveHopwood [ Sun Apr 12, 2015 1:24 pm ]
Post subject:  Zennor's Piproid
I have put a version of mptm in post 1, already coded for a global closure at 1% of balance profit, for those of you new to all this and possibly slightly confused.

:xm:
Author:  patmontes [ Sun Apr 12, 2015 2:04 pm ]
Post subject:  Zennor's Piproid
Have placed it on demo... let's see this week :good:
Author:  pipcruiser [ Sun Apr 12, 2015 3:15 pm ]
Post subject:  Zennor's Piproid
The idea behind the Zennor Piproid EA is to use PipCruisers excellent system on a shorter timescale IE the 4H charts. The system is basically a short term trend catching system and instead of using conventional Take Profits and Stop Losses the idea is to capture small moves over a wide range of currencies and to use a basket trade manager to manage the trades.
Great initiative Zennor :yahoo:

PC
Author:  trader689 [ Sun Apr 12, 2015 6:56 pm ]
Post subject:  Zennor's Piproid
this looks great thanks steve, zennor and pipcruiser :good:
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