Follow The Bouncing Pip - page 75

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This was a useful thread. Let's try and keep it that way. There was nothing wrong with the original rules.

 

Maybe we could put Don's translator on a wave file to fire an alert message...

steinitz:
I am working on the ultimate drawdown alert that only get's you out of the trade when you are 3000+ pips in drawdown. Could be the holy grail! LOL Don
 
zmax:
Hi guys,

Brunite you're right, i made an EA that uses the original rules some time ago and tested exactly on that big down move of the market. You can see the picture of what the expert did.

Blue lines = good transactions

Red circles = pain, big pain. )

If anyone here has an ideea to filter those signals, Holy Grail will become real .

P.S As you can see i stoped the test before 9.02 but it made more pips than it lost. So, send ideas if you want to make it better.

Thanks, Zmax

Thanks for the reply!

So....if we are to understand correctly.....the EA, following the Original, Manual entry rules did detect arrow/zz line convergence and therefore did initiate a trade at each of the "fake-out" arrows....

....and if so.....my original question is answered in the affirmative. Thus, on bigger moves, a lot more false reversals will be signaled. I somewhat expected that would be the case.

Wondering if BigBear, Forex11 or other longer-time users can affirm that this is the case.

Again....not at all flaming the system.....I like the system. Likewise; I don't think a filter will be found to turn this into the HG.....it doesn't need to be a H-grail....just a method to put the odds in your favor on catching the big moves.

Just musing on how to best plan for and deal with the multiple false entires and wondering how often they show up in the multitude depicted on my previous post...

Thanks to BigBear and Forex11 for sharing this.

Thanks Mr Pip and zmax for your commentary as well.

 
zmax:
MrPip,

Please look at the picture i uploaded with my earlier post. The EA used original rules. Entry/Exit when arrow+nonlag show(directly), no trail/wave ride. In order to make it better it has to use a filter....i think. This is what i'm searching for since this thread started.

Thanks, Zmax

Would you mind either posting the EA you wrote so it can be checked for accuracy on signal or send it to me at my email?

If you are checking on closed candles for signal that is not in the original rules.

Also some bad news(maybe).

I believe there is a bug in the zigzag indicator.

Last night the GBPJPY had a low on the 1 hr timeframe that zigzag did not use. It placed the low 7 bars later at a low of 231.91 instead of the low at 231.88. NonlagZigZag shows the correct low.

This might explain the arrows occuring in strange places as well.

I will look at ZigZag in detail and try to find the bug.

Robert

 
Brunite:
Thanks for the reply!

So....if we are to understand correctly.....the EA, following the Original, Manual entry rules did detect arrow/zz line convergence and therefore did initiate a trade at each of the "fake-out" arrows....

....and if so.....my original question is answered in the affirmative. Thus, on bigger moves, a lot more false reversals will be signaled. I somewhat expected that would be the case.

Wondering if BigBear, Forex11 or other longer-time users can affirm that this is the case.

Again....not at all flaming the system.....I like the system. Likewise; I don't think a filter will be found to turn this into the HG.....it doesn't need to be a H-grail....just a method to put the odds in your favor on catching the big moves.

Just musing on how to best plan for and deal with the multiple false entires and wondering how often they show up in the multitude depicted on my previous post...

Thanks to BigBear and Forex11 for sharing this.

Thanks Mr Pip and zmax for your commentary as well.

If a short trade were entered at the top and a better exit stragey used those false arrows might not matter as we would still be in the trade when they occured.

That might mean a starting trade might cause a series of losses if the first trade was at the yellow arrows but once a valid trade was hit the other arrows would occur (hopefully) while still in the trade.

This is also where partial close would help. Close half of trade when first target is reached and let the rest run from there with move stoploss to break even and maybe a small lock of 5 or 10 pips.

Robert

 
MrPip:
If a short trade were entered at the top and a better exit stragey used those false arrows might not matter as we would still be in the trade when they occured.

That might mean a starting trade might cause a series of losses if the first trade was at the yellow arrows but once a valid trade was hit the other arrows would occur (hopefully) while still in the trade.

This is also where partial close would help. Close half of trade when first target is reached and let the rest run from there with move stoploss to break even and maybe a small lock of 5 or 10 pips.

Robert

Hi all,

This is my first post ever, so bear with me (no pun intended). I hope I'm figuring this right, but even with the false entries, you would gain almost 1300pips from the GBP/JPY chart Brunite posted.

I idealized this a bit by using only the highs and lows for the bars with arrows, but if a stoploss was set at 30pips below the low of each entry, you'd enter on 11 false signals, and still come out way ahead. This is supposing you enter on the next signal after the bar that the stop was hit on (see attached screenshot).

Many thanks to Bigbear and Forex11 for sharing this system, and to all of you gurus who are helping.

Files:
nlzz_zzp_1.gif  34 kb
 

honored

I am very honored to have the senior members on the thread.

WELCOME

 

Hey Thread,

I also wanted to thank everyone for there contributions to make this method better.

Keep Up the good work

Bear-

 

visual test

I am getting a much better understanding of how this method works.

I just finished a visual test from Aug 6 to Sept 2 for GBPJPY 1 Hr chart.

Some of the wicks had me in trades earlier with the wick moving higher after entry so I used the actual price when the arrow appears.

I changed the rules slightly to move stop to Break Even + lock of a few pips when up 50 pips or more. Then move stop as trade progresses as I would do manually anyway.

Sell at top from arrow and line together began the run.

Trade 1 closed at signal for 300 pips.

Trades 2 and 3 closed at BE + lock.

Trades 4 - 11 stopped out for 30 pip loss

Trade 12 wins 150 to 200 pips.

Trade 13 close at BE + lock

Trade 14 - 16 stopped out for 30 pip loss.

These trades were on the same candle as trade 17 but were stopped out while the wick became longer.

Trade 17 wins 100 pips

Trade 18 and 19 stopped out for 30 pip loss.

Trade 20 wins 600 pips

Trade 21 wins 984 pips with early exit when the first arrow appeared.

The last trade could have been for 1370 pips using an new exit idea.

Wins = 300 + 150 + 100 + 600 + 984 = 2134 pips

Losses = 13 * 30 = 390 pips

Break Even trades could add another 3 small wins.

Net of 2134 - 390 = 1744 pips.

Not bad for 3 weeks.

Robert

 
ssdavis02:
Hi all,

This is my first post ever, so bear with me (no pun intended). I hope I'm figuring this right, but even with the false entries, you would gain almost 1300pips from the GBP/JPY chart Brunite posted.

I idealized this a bit by using only the highs and lows for the bars with arrows, but if a stoploss was set at 30pips below the low of each entry, you'd enter on 11 false signals, and still come out way ahead. This is supposing you enter on the next signal after the bar that the stop was hit on (see attached screenshot).

Many thanks to Bigbear and Forex11 for sharing this system, and to all of you gurus who are helping.

That's assuming you would have waited for the opposite arrow to get out. If you were trading this system on a live account, would you have?

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