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Slopey Slope
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Author:  SteveHopwood [ Fri Aug 03, 2012 9:41 am ]
Post subject:  Slopey Slope
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 tells you there is, is either a liar or an idiot. This EA will need 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.
      - How to use the Slope indi from Nanningbob's 10.2 system:
      • - first visit Jemook's thread at http://www.stevehopwoodforex.com/phpBB3 ... 562#p17562 Here you will find where to start reading about Nanninbob's 10.2 and learn to trade. Bob's stuff is the best thing to arrive during my time trading Forex. It is massive. Jem's thread will help you get started if this is new to you. I once stated that Recovery may well turn out to be Bob's lasting legacy to us retail Forex traders. I was wrong; this is actually going to be Slope, and it will have a part to play in everything we do from now on.

DO NOT USE THIS EA ON A LIVE TRADING ACCOUNT. IT IS EXPERIMENTAL.

Introduction
Read the genesis of SS at http://www.stevehopwoodforex.com/phpBB3 ... f=37&t=724

SS trades the Slope angle. If the angle is rising, SS buys. If it is falling, SS sells. SS looks for a trade at the start of every candle indicated by TradingTimeFrame - default 240 but play around.

You have the option of using the Slope value as well, so the usual HtfBuyLevel etc are there. By default, SS does not use the Slope value - note UseSlopeValue set to 'false'.

Trade exit
This needs attention and ideas. At the mo, there are straight tp/sl/management inputs only. If a trade hits tp and the angle is still moving the right way at the open of the next candle, SS will take a new trade. This might not be good. We shall see.

Slope
Guys, you really need to understand what the Slope indi tells you, so do not take this brief summary as The Definitive Statement. Basically, Slope tells us this:
  • - >= 0.4: look to buy and take profit somewhere along the line.
    - >= 0.8: look to buy and hold the trade, and add to the position as the market continues to rise.
    - <= -0.4: look to sell and take profit somewhere along the line.
    - <= -0.8: look to sell and hold the trade, and add to the position as the market continues to fall.
We have zznbrm to thank for his coding of Slope. Without it, this thread could not exist. Thanks, zznbrm. Frank Muir describes himself as "I only did a couple cosmetic things to that indi." but they are damn good cosmetics, so out thanks to Frank also.

You do not need Slope on your chart or in your indi folder; Baluda sent me the code that brings the calculation 'in-house' a long time ago. Our thanks to Paul for that.

In conclusion
Usual conclusion. Let's see if this parrot has a decent squawk.

:D

Matters of general interest

Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p=800#p800 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration. There is a thread devoted to Sam's trading method at http://www.forexfactory.com/showthre...25#post5118825

Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179

EA coding
I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at http://www.stevehopwoodforex.com/phpBB3 ... p=803#p803, at the bottom of the post.

Useful utilities/EA's/scripts
Matt's chart-population script at http://www.stevehopwoodforex.com/phpBB3 ... 5733#p5733. Use this every time you start a fresh platform.
MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
Multi purpose trade manager: http://www.stevehopwoodforex.com/phpBB3 ... p=516#p516
Account equity analyser: http://www.forexfactory.com/showthread. ... ost4693716Also at http://www.forexfactory.com/showthread. ... ost4709098, which includes a template for both USD and the Euro.
Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthread. ... ost3830610
My shell EA – the code I use to produce EA's so quickly. http://www.stevehopwoodforex.com/phpBB3 ... p=803#p803
Author:  harry45 [ Fri Aug 03, 2012 11:06 am ]
Post subject:  Re: Slopey Slope
Steve thanks a lot. Please, tell if I set Slope value, will Slope angle work?
Thank You.
Author:  hilavoku [ Fri Aug 03, 2012 11:18 am ]
Post subject:  Re: Slopey Slope
Hi Steve,

looks good :D

What do you think about adding a threshold für the Angle?
At the moment you are distinguish between rising, falling and unchanged. But the difference between 0 and rising can be very little and should not be considered to make the decision to take a trade.
But when you add a threshold and you know that the difference has a minimum amount of say 0.2 then this could be a better way to be more convinced that you are on the rigth side?!





greets
Guido
Author:  NeoTrader [ Fri Aug 03, 2012 1:00 pm ]
Post subject:  Re: Slopey Slope
Hi Steve...

you almost have a nice setup..;)

I also think the Idea of just using the Direction is the right way to go...

Don't want to hijack this thread but maybe you can think about the following modifications or better to say this is how I trade now:
  • Put an LWMA, EMA or SMA Period 21 over the TMA.
  • use 3 different TFs for the TMA & MA Combination (eg. M15,H1,H4)
  • If at least two TFs TMA cross the MA in the same Direction enter a Trade
  • If no SL or TP is in Place exit if at least in two TFs the TMA changes Direction or Cross the MA in the opposite Direction of the Trade. Eventually Enter new Trade (If TMAs cross MAs)...
  • Use TMA Level of the TFs who Triggered the Trade for Probability and RR Calculations
    eg. Ranging (<0.3 & >-0.3) is Low Probability with RR of 1:1
    Up/Downtrend (>0.3 or <-0.3) Medium Probability with RR 1:2
    Strong Up/Downtrend (>0.6 or <-0.6) High Probability with RR 1:3
  • SL based on latest Swing High/Low or fixed Pips if swing is to close (<fixed Pips)...TP based on RR
Screenshot of the Setup...
eurusd m15 analysis with 3 tmatrue (h4,h1,m15) and ma21.gif
Just my two pips...

happy Trading,

NeoTrader

-
Author:  nonlinear [ Fri Aug 03, 2012 1:31 pm ]
Post subject:  Re: Slopey Slope
My thoughts:

Enter: Use TMAtrue from three time frames (D1, 4H, 1H). Enter on the retracement peaks and valleys on the 1H, but only in the direction of the slope of the 4H and only when the D1 value is sell or buy. For example, D1 is under -0.4 (or whatever you prefer) for SELLS, and 4H is sloping down. Enter when the 1H peaks and turns south. Only enter after a peak when the rate of change in the slope exceeds a threshold change over the past X bars (we dont want to enter on minor slope changes).

For longer term trades, enter on the 4H peaks and valleys in the direction of D1 alone.
You could do the same on any lower time frame you want to trade (15M looks great for quick moves, easily three-five trades per session).

Exit: Close position on opposite peak or valley (again when the rate of change exceeds a threshold change over the past X bars -- we dont want to exit on minor slope changes). If no qualifying peak or valley occurs, exit when the TMAtrue crosses 0 going the other direction. For example, we just took a sell from a peak on the 1H, we would exit on the next negative valley or hold until the TMAtrue goes below 0 and then crosses back above 0, whichever comes first (the valley or the 0 cross going the other direction).

This system is simple and easy to follow. I like it because it is founded on price action and momentum.
Author:  SteveHopwood [ Fri Aug 03, 2012 9:53 pm ]
Post subject:  Re: Slopey Slope
Thanks guys.

Let's see if the original actually triggers a few decent entries before mucking around with this aspect of the bot? It has done on my development demo today, but that might just have been a fluke. We shall see.

:D
Author:  harry45 [ Mon Aug 06, 2012 7:22 am ]
Post subject:  Re: Slopey Slope
I`m running EA with-1.Htf=1440,HtfBuylevel=-1.5,HtfSellLevel=1.5;
2.Ltf=60,LtfBuyLevel=-1.5,LtfSellLevel=1.5;
3.UseSlopeValue=true;
Slightly confused because most of the pairs have a discrepancy between NT indi and the EA`s display angle readings.
What does it mean?
Regards
Author:  Verto [ Mon Aug 06, 2012 2:27 pm ]
Post subject:  Re: Slopey Slope
harry45 wrote:I`m running EA with-1.Htf=1440,HtfBuylevel=-1.5,HtfSellLevel=1.5;
2.Ltf=60,LtfBuyLevel=-1.5,LtfSellLevel=1.5;
3.UseSlopeValue=true;
Slightly confused because most of the pairs have a discrepancy between NT indi and the EA`s display angle readings.
What does it mean?
Regards
Just looks like rounding visual 2 digits in the indicator compared to all digits in the bot unless I am mistaken.
Author:  harry45 [ Wed Aug 08, 2012 8:26 pm ]
Post subject:  Re: Slopey Slope
Something strange with calculations of SlopeAngle leads to wrong trade direction.See att.pic.EA took short -HtfAngle is falling but LtfAngle is rising.After trade had been taken Angle(Htf and Ltf) changed many times.
Steve,please,have a look.
Thanks
Author:  SteveHopwood [ Wed Aug 08, 2012 9:18 pm ]
Post subject:  Re: Slopey Slope
harry45 wrote:Something strange with calculations of SlopeAngle leads to wrong trade direction.See att.pic.EA took short -HtfAngle is falling but LtfAngle is rising.After trade had been taken Angle(Htf and Ltf) changed many times.
Steve,please,have a look.
Thanks
Don't understand, Harry. Sorry.

:D
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