Follow The Bouncing Pip - page 25
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I've just read your "bouncing Pip" thread and I'm interested in developing an EA for this system. Generally I have bad experience with repainting indicators, but since you have tested this system manually for some time, I'm willing to give it a shot. I will post the EA as soon as I'm finished. If you have any pointers for me please post them here.
Hey Nix,
Thank you for your offer.
This is for anyone who would like to program the EA. The following is just a request by Forex11 & me. Thanks in advance.
When the NonlagZigZag & the ZigZag Pointer Touch, thats an entry signal. The EA should enter a trade at that exact point. Stops loss should be at least 20 pips below/above candle with arrow.
Exits should be at the next signal where the EA would enter again or at predefined TP
Thats it. Thats all I do when I trade manually.
As for settings I would like the following.
Stop Loss
Take Profit
Break Even After X Amount of PIPS + X amount of PIPS (i.e. Break even + 20 etc..)
Not a trail stop but a function where the stop moves every X amount of PIPs rather than pip by pip. Example Stop @ 1.2350. Next stop @ 1.2400 Next Stop @ 1.2450 ETC....
A money management rule with % of account to trade, number of lots to trade down to Micros & % decrease factor
an option for audible alerts.
Leaving a ghost in case of repaints.
I have a lot of coding that I strip out of EA's. Some the stuff above I have code for but dont know how to make it work
If you need more let me know. Im sorry Im not very code savvy but maybe if we chat I can help you guyz more.
Thanks again, I really appreciate it.
Bear-
hey bigbear in the above post you said enter when the line and pointer appear.
You do mean on the close of that candle right?
Hey Nix,
Thank you for your offer.
This is for anyone who would like to program the EA. The following is just a request by Forex11 & me. Thanks in advance.
When the NonlagZigZag & the ZigZag Pointer Touch, thats an entry signal. The EA should enter a trade at that exact point. Stops loss should be at least 20 pips below/above candle with arrow.
Exits should be at the next signal where the EA would enter again or at predefined TP
Thats it. Thats all I do when I trade manually.
As for settings I would like the following.
Stop Loss
Take Profit
Break Even After X Amount of PIPS + X amount of PIPS (i.e. Break even + 20 etc..)
Not a trail stop but a function where the stop moves every X amount of PIPs rather than pip by pip. Example Stop @ 1.2350. Next stop @ 1.2400 Next Stop @ 1.2450 ETC....
A money management rule with % of account to trade, number of lots to trade down to Micros & % decrease factor
an option for audible alerts.
Leaving a ghost in case of repaints.
I have a lot of coding that I strip out of EA's. Some the stuff above I have code for but dont know how to make it work
If you need more let me know. Im sorry Im not very code savvy but maybe if we chat I can help you guyz more.
Thanks again, I really appreciate it.
Bear-Bear.....
I have been reading your thread since I know that the zigzag indicator can look really good but is extremely limited as far as an indicator goes. The zigzag indicator is helpful to aid in the visualization of Elliott wave patterns and potential turning point in the market.
I have taken the privilege in discussing the potential for an EA using the zigzag indicator with my programmer. He claims it does not work or shall I say is not profitable. However I do have some ideas for this indicator and how it can fit into the design of an EA. Let me offer this to you guys on this thread I'm going to keep an open mind because I see potential in this indicator since it predicts a potential high and low, or in other words extreme points similar to any overbought or oversold indicator and could very well be useful in swing trading.
As you guys mentioned earlier, the key to this indicator is realizing that it will repaint often and will need thorough analysis of what it takes using money management to make sure that you set realistic profit targets that outweigh the multiple small losses.
May I offer you a couple of recommendations:
1. You add a conventional trailing stop that works Pip for Pip.
2. Enter the trade based on confirmation looking at the previous candle's high exceeded by x-number of pips. For short confirmation entries look at the previous candle's low exceeded by x-number of pips.
Good luck!
Don
No problem I will test that... do you have a link to that thread ? thanks Walter.
----------------------------------------------------
Here is the link!
Sincerely,
rswamy4449
https://www.mql5.com/en/forum/177296
EA verison 1
Hey Nix,
Thank you for your offer.
This is for anyone who would like to program the EA. The following is just a request by Forex11 & me. Thanks in advance.
When the NonlagZigZag & the ZigZag Pointer Touch, thats an entry signal. The EA should enter a trade at that exact point. Stops loss should be at least 20 pips below/above candle with arrow.
Exits should be at the next signal where the EA would enter again or at predefined TP
Thats it. Thats all I do when I trade manually.
As for settings I would like the following.
Stop Loss
Take Profit
Break Even After X Amount of PIPS + X amount of PIPS (i.e. Break even + 20 etc..)
Not a trail stop but a function where the stop moves every X amount of PIPs rather than pip by pip. Example Stop @ 1.2350. Next stop @ 1.2400 Next Stop @ 1.2450 ETC....
A money management rule with % of account to trade, number of lots to trade down to Micros & % decrease factor
an option for audible alerts.
Leaving a ghost in case of repaints.
I have a lot of coding that I strip out of EA's. Some the stuff above I have code for but dont know how to make it work
If you need more let me know. Im sorry Im not very code savvy but maybe if we chat I can help you guyz more.
Thanks again, I really appreciate it.
Bear-I did some testing last night just using your original approach. The strategy has great potential, but it also has a major drawdown due to repainting of the indicators.
Here is the first basic version of the EA and one problem which should be worked out before further work is done. The problem is of course REPAINTING. Any ideas? Maybe we should add a 3rd indicator to help filter out false signals.
Here are the illustrations of the problem:
6 false signals in a row (30 pip stop loss on each = 180 pip loss)
6 false signals in a row (30 pip stop loss on each = 180 pip loss)
The EA uses nonlagzigzag_v2 and zigzag-pointer indicators.
The final version of this EA will be available FREE to the author of this strategy and everyone who helps out in fine tuning it.
Please don't post ideas which have not been tested.
I did some testing last night just using your original approach. The strategy has great potential, but it also has a major drawdown due to repainting of the indicators.
Here is the first basic version of the EA and one problem which should be worked out before further work is done. The problem is of course REPAINTING. Any ideas? Maybe we should add a 3rd indicator to help filter out false signals.
Here are the illustrations of the problem:
6 false signals in a row (30 pip stop loss on each = 180 pip loss)
6 false signals in a row (30 pip stop loss on each = 180 pip loss)
The EA uses nonlagzigzag_v2 and zigzag-pointer indicators.
The final version of this EA will be available FREE to the author of this strategy and everyone who helps out in fine tuning it.
Please don't post ideas which have not been tested.Hi Nix, Thanks for the EA as a filter I would suggest the bar after the signal, this should penetrate the high or low of the signal bar as the entry.
This would filter out most of the bad signals, it would reduce profits and increase stops though that is the only problem but you are always going to get that if you rely on price confirmation for entry.
Repaints
Hexadecimal,
I visually tested it on H1 TF for EURJPY..and it repaints BIG TIME and moves to adjacent bars(up to 3 bars maybe?
),additionally,the quality of the signals is far worse than tested before..
Hexadecimal,would you care to comment?
1-Why it does repaint on H1 tf and,APPARENTLY,doesn`t on M30 and H4?
2-Why signal quality,APPARENTLY,is exceptional for M30 and not so for H1,when the settings you posted are for ZIGZAG forced time:60?Probably due to the deficiencies of the mt4 tester when in front of mtf indicators?
3-Did you know it repainted on H1?What is your live experience with it?
Regards
attn:Hexadecimal
Hi there again, I just wanted to say i`m big fan of zig zag indicators, and the thread is just about that. The attached file is the best zig zag indicator i`ve bumped on, I`ve ran some back tests and the indicator doesn't repaint the past as the other zig zag indicators do, i even use the indicator on my chart since 2 months ago. So Simba i can see that you know how to run a back tests on indicators, so can you please run some back tests and share your opinion about the indicator i`ve attached.
SETUP
PAIRS: GBP/USD or GBP/JPY
TF: 15 minHi
1-You are right,the indicator doesn`t repaint during backtesting,nor it displaces itself to a new bar,so,what you see in the visual backtesting are the actual signals you would have gotten..EDIT:IT REPAINTS BIG TIME WHEN USED ON H1..SE LATER POSTS
2-I started by testing on GJ H4,since I wanted to know what would happen during the approx 1350 pips upmove that started the eight of January,move where all the other zigzag indicators had failed by signalling several fake entries..well,you can see it by yourself at the attached pic..during the move,point 2,it gave only a signal,just when the top was reached
3-Please note ,at point 1,that it gave a long entry a little prematurely to say the least
..I would suggest that you adjust and play with the settings,instead of using 15,5,3,try to use something like 100,75,15 or 35,5,3,or change the reference tf to 240 instead of 60..
Obviously,to do so,you would need the.mq4..if you have it,could you post it for general forum use?This way we could experiment with the settings and improve the results for the indicator
4-I will start to visual-test on GJ 15M ,as you suggested,and will post any additional comments and pics ,in a few minutes
Thanks for posting the indicator
Nix
6 false signals in a row (30 pip stop loss on each = 180 pip loss)
The EA uses nonlagzigzag_v2 and zigzag-pointer indicators.
The final version of this EA will be available FREE to the author of this strategy and everyone who helps out in fine tuning it.
Please don't post ideas which have not been tested.
Nix,
I just finished a visual backtest with the indicator provided by Hexadecimal,looks like no repainting,see my previous post..I think it is worth trying as a confirmation tool,looking for agreement between the 3 indicators..please find attached EDIT:IT REPAINTS ON H1,PROBABLY THE BACKTESTER DOESN`T DETECTS IT FOR OTHER TFs DUE TO DEFICIENCIES IN MT4 TESTER WHEN IN FRONT OF MTF INDICATORS