Well working Trading System ! - page 14
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Just an idea: if we will use AddSignal_v1 indicator to enter, TrendStrength_v2 indicator for the confirmation of the signal and TrendEnvelopes_v2 for the exit?
It is the first idea which came to me when I see the chart of those 3 indicators.
Hello all,
I just read through the thread, but I didn't see were anyone mention the eSignal version of these indicators..? or maybe I missed it..? I have attached the .efs version of the indicators. Isn't there a program floating around out there will convert .efs into .mq4..? I guess this still doesn't solve the EA issue, but food for thought...
and I agree, please don't dump these in the free section...
Parameters , settings etc... Some Q&A.
I have had good luck with the indicator in the 15 min. TF in the past, but used only trendenvelopes and later trendstrength. I am now looking at it in the 4 hour TF; and ...
Preliminary Answers...A few days is not a good sample yet , but manually i have been using just those two indicators above in the four major pairs.. (I use trendenvelopes to identify possible entry, but do not enter unless or until trendstrength either agrees in color, or at least is in the process of crossing over). I exit when either envelopes gives a contrary signal or trendstrength crosses to say the trend is perhaps ending.
I am up 33 pips in closed trades (these represent 5 trades that either lost pips or gave a short run in profit.) I also am up 407 pips in 3 trades Eur/usd and Gpb/usd and Usd/chf that are still running. The gpb trade is the one that WNW got burned on in the 1 hour timeframe in the above post, but it came out good on the 4 hour chart; both trendenvelopes and trendstrength caught the good move on the long trade.
Now for the question...I am not an Ea guy, so please bear with me.
1. When I back tested the EA in Strategy tester, it seemed like it either only traded one time, or not at all in weeks, whether in the 4 hour TF and even in shorter 15 min. TF. Is this possible or am I doing something wrong?
Upon further review..
I think I answered my own question by looking deeper into recent posts. I didn't have RSI going, which may have thrown off system. I'll try again.
I quickly looked at the settings and understand that this EA will do the following:
we may enter on any of 3 indicators or on combination of the indicators using any bar or any timeframe.
we may have confirmation about trend using 1 of those 3 indicators or all 3 indicators using any bar and higheir timeframe. Remember Steinitz Method? It is not the same of course but we may use those 3 indicators as MTF (multi timeframe) indicators by simple change something in the EA's settings.
we may use 1 of those 3 indicators or all 3 indicator for exit. And the same: we may use it as MTF (more higher tiomeframe then we are trading with) and any bar starting from current (0) bar.
and some other settings: take profit/stop loss/trailing stop (as true and false - means optional).
BreakEven and ProfitLock. Don't understand the differences between them. Tomorrow I will try to recognize about it.
TrailingMode.
- It may be 0 (TrailingMode = 0): no trailing stop.
- It may be 1: standard trailing stop with pips value.
- It may be 2: traling stop according to TrendEnvelopes_v2 indicator: to use it we need to set TrailingMode=2 and select StopDeviation (deviation from TrendEnvelopes line). this kind of trailing stop (TrailingMode=2) is working on the close bar only.
very advanced timefilter setting.
TrendEnvelope parameters.
- TE_TimeFrame. We may use this indicator on our current timeframe (TE_TimeFrame=0), or use more highier timeframe.
- TE_MAPeriod and TE_MAMode: the settings of the indicator.
- TE_CurBar. As I understand current (open) bar is 0 bar. Previous (close) bar is 1st bar. It means that we are ciounting back from the current 0 bar to the history (0, 1, 2 and so on). Using this setting we may select the bar for signal or for cinfirmation. TE_CurBar=1 by default which is related to previous close bar (we all trading on close bar so it is our standard settings by default for TE_CurBar).
- TE_Mode. It is very imprtant settings. if TE_Mode=0 so this indicator will be switched off completely from the trading system. If TE_Mode=1 so we are using this indicator for confirmation of the signal. If TE_Mode=2 so we are using this indicator as signal indicator to open the order.
TrendStrength parameters and Additional parameters setting are understandable: every indicator is having TE_Mode for exampler and so on.
ExitMode:
- if ExitMode=0 so this EA is using simple stop loss/take profit and trailing stop for exit.
- if ExitMode=1 so this EA is closing the order on TrendStrength_v2 indicator.
- if ExitMode=2 so EA will use TrendEnvelopes_v2 indicator for exit.
- if ExitMode=3 so EA will use AddSignal_v1 for exit.
- if ExitMode=4 so EA will use indicator which came first for exit (any first).
- if ExitMode=5 so EA will use all 3 indicators for exit all together.
addsignal
Unable to exit on addsignal (exit mode: 3) (add mde: 0)
Any idea.
I am trying to pass all the settings to see how it works.
And i am uploading everything on the post #20 https://www.mql5.com/en/forum/174793/page2
1st set.
H4 timeframe.
- signal for buy/sell: AddSignal_v1 indicator for H4 timeframe;
- confirmation: TrendStrength_v2 and TrendEnvelopes_v2 indicators for H4 timeframe;
- exit: TrendEnvelopes_v2 indicator on H4 timeframe.
Conclusion:
Everything is fine but it was exit one bar later. And one bar for H4 timeframe is 4 hours so ...
Unable to exit on addsignal (exit mode: 3) (add mde: 0) Any idea.
It happens, because Add_Mode=0 and AddSignal isn't used at all.
I've updated EA, and now you have fully separate exits for ExitMode=1,2,3.
This EA is a tremendously good effort on Igorad's part. Definitely grail material here. I'm finding the M15 TF to be really profitable in my testing so far.
Unable to exit on addsignal (exit mode: 3) (add mde: 0) Any idea.
I will try exit on mode 3.
But all that I am doing now is selecting some ... let's say ... raw settings. It will be 4 or 5 raw settings and we may play later with exit, confirmation on more higheir timeframe, trade on M15 with the direction of the trend of H1 forexample and so on. Then I will backtest it finally back to 2001 to find some good final settings according to our selected trading system.
2nd set.
H4 timeframe.
- signal for buy/sell: AddSignal_v1 indicator for H4 timeframe;
- confirmation: TrendStrength_v2 for H4 timeframe and TrendEnvelopes_v2 indicators for D1 timeframe;
- exit: TrendStrength_v2 indicator on H4 timeframe.
It is the idea to take the signals on AddSignal_v1 indicator with TrendStrength_v2 confirmation on the direction of daily trend (TrendEnvelopes_v2 indicators for D1 timeframe). Exit on TrendStrength_v2 indicator. I can not take TrendEnvelopes_v2 indicator for exit as this indicator was setted on D1 timerame for the confirmation and we may get very big loss. So, we may have exit on TrendStrength_v2 or on standard tp/tl/ts.
Conclusion:
It works. It is interesting to try this setting on M15 with H1 trend confirmation and so on.
I will collect all our raw settings in the pst #20 here https://www.mql5.com/en/forum/174793/page2