Follow The Bouncing Pip - page 268
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ea settings
Thanks to bear, forex11, mrpip, mpower, zmax, burn0005, nix and others for a great and educational thread,system and ea. I am a bit late to the party but if anyone is still around a few clarifications would be great. I have been able to answer some of my own questions by going through the code with my very limited coding knowledge and I will, no doubt, get more answers as i follow the demo accounts I have just set up (oanda micro).
1. position sizing - confirm that methods 3 and 4 (burn and nix2) both use the stop loss size to calculate position size rather than account size to calculate it? also, what is the difference between burn and nix2 - I thought I had seen a post that showed one tended to lead to more aggressive drawdowns than the other for a similar risk size but can't seem to find it now.
2. on a related point - do any adjustments need to be made if trading a microlot account (0.01 - $1000 lot size - e.g oanda microlot)? Is the "mini" setting to deal with brokers such as mbt who use 10k as the lot size.
3. Is the default exit the zz pointer alone or zzpointer with coinciding nonlagzigzag? a related question is do the yellow and orange arrows in zigzag-pointerv2.mq4 indicate a pointer that did not coincide with a nonlagzigzag?
4. can I trade a 1h chart and a 4h chart on the same pair in the same account (or two 1h charts with different settings on each chart etc.) if i use different magic numbers or will the two ea's interfere with each other? I accept any point that this may cause overexposure - but in theory can it be done?
5. Confirm that shutting down and restarting the ea will not mean losing track of trades - I gather from the ea code comments that it will check and correct after a restart.
Thanks
checking EA
It has been a while since I was at this thread and am re-reading from first post.
Currently at page 81 after first night of reading.
In response to your questions.
1. position sizing - confirm that methods 3 and 4 (burn and nix2) both use the stop loss size to calculate position size rather than account size to calculate it? also, what is the difference between burn and nix2 - I thought I had seen a post that showed one tended to lead to more aggressive drawdowns than the other for a similar risk size but can't seem to find it now.
ANSWER : I have a new method of MM that uses stoploss and determines mini and micro accounts automatically. It still uses account size but takes stoploss into account. If you "risk" 1% on 10K account then you are willing to lose $100. If stoploss is 50 then, in general, the lots trades would be 2 minilots. The code I have takes into account the pip value as well.
2. on a related point - do any adjustments need to be made if trading a microlot account (0.01 - $1000 lot size - e.g oanda microlot)? Is the "mini" setting to deal with brokers such as mbt who use 10k as the lot size.
ANSWER: This will all be automated in the new MM code.
3. Is the default exit the zz pointer alone or zzpointer with coinciding nonlagzigzag? a related question is do the yellow and orange arrows in zigzag-pointerv2.mq4 indicate a pointer that did not coincide with a nonlagzigzag?
ANSWER: Exit is with ZigZqagPointer alone unless another exit method is selected by setting the rxit switchc to 1. The yellow and orange arrows only show when ZigZagPointer plotted arrows. I also plan to write a new indicator that will show arrows when both zigzagpointer and nonlagzigzag met in the past.
4. can I trade a 1h chart and a 4h chart on the same pair in the same account (or two 1h charts with different settings on each chart etc.) if i use different magic numbers or will the two ea's interfere with each other? I accept any point that this may cause overexposure - but in theory can it be done?
ANSWER: The magic number is used to identify trades so as long as the numbers are different there will be no interference.
5. Confirm that shutting down and restarting the ea will not mean losing track of trades - I gather from the ea code comments that it will check and correct after a restart.
ANSWER: Yes, the EA will get the correct values from when a disconnect from the server occurs. The current stoploss and takeprofit prices are saved to the harddrive. I also plan to add code to make sure the broker honors stoploss and takeprofit.
Robert Hill aka MrPip
stop loss+spread method in a 5 digit broker
I am getting my settings right on this ea (using v44) and ironing out bugs (mostly caused by carelessness on my part).
When using the stop loss method that adds the spread to the high/low i seemed to be getting a bigger stop than I should (e.g on eurusd hi was 1.33738, and stop loss was placed at 1.33852).
Only when I placed a spread.mq4 indy on the chart which showed the euro spread at 8 (when it plainly was much less) did i realise that the spread indy was assuming a 4 digit broker and that the ea may be doing the same.
Is there a way of altering the ea code to make it calculate spread for a 5 digit broker.
If not I can just use user defined input instead.
I am getting my settings right on this ea (using v44) and ironing out bugs (mostly caused by carelessness on my part).
When using the stop loss method that adds the spread to the high/low i seemed to be getting a bigger stop than I should (e.g on eurusd hi was 1.33738, and stop loss was placed at 1.33852).
Only when I placed a spread.mq4 indy on the chart which showed the euro spread at 8 (when it plainly was much less) did i realise that the spread indy was assuming a 4 digit broker and that the ea may be doing the same.
Is there a way of altering the ea code to make it calculate spread for a 5 digit broker.
If not I can just use user defined input instead.A client of mine directed me to this thread. If you want to modify the EA or spread indicator to fit all broker, I will modify for you if you post it here. This thread is too long for me to find where the latest stuff is. Thanks.
alert sounds on every tick
Here is a newer version of MFI Alert which adds an option to send email alerts. However, if the overbought or oversold line is repeatedly crossed it will send a lot of mail, which may happen more in the lower time frames. The option is false by default. When it is true it will also send emails whenever the MFI returns from overbought or oversold to the middle range so that you know if it is no longer overextended. As long as you got no mail that it is back to the middle that means it is still overbought or oversold since the last OB/OS mail. The regular sound alerts only tell you when the MFI is overextended, since I thought that was good enough when one sits near the computer and doesn't want to be bothered so much. nlenz
The alert and email functions on this alert activate on each tick. Does anyone know how to make it just activate at the end of the bar when it crosses into overbought/oversold? Thank you for any assistance!
Regards,
Mike
great
hi everybody
I'm french noob trader and i try this great system.i like this style of trading,simple and effective.New on this forum i like the ambiance and the mentality,french mentality is so so crap.
I wish thanks all the member who participate on this thread to improve this system
Here a screenshot of my trade taken since the start of the week,too many pips
ZigZag breakout
removed, removed
Here is a version of zigzag-pointer that does not erase old arrows. It places yellow arrows where a Green arrow would have appeared and an orange arrow where a Red arrow would have appeared.
I am also attaching SilverTrend_Signal with a new input variable called SSP. Try using a value like 21. The default is the value from the original posted on this thread.
I worked on an EA a few years ago using this indicator and found that higher values for SSP gave better signals on higher timeframes.
RobertHi Mr Pip, thank you very much for the fantastic indicator. I have a question for you. I understand that(in a downtrend) after a confirmed red arrow, a "fresh" green arrow leaves a trail of yellow arrows, until it solidifies as a green arrow finally. What I request you to tell me that why yellow arrows still appear even when they are higher than previous (green)low? I have the image supporting my question.
Thank you
There are two possible reasons for the new yellow arrows.
The indicator will look for new lows if enought time has past.
If the first parameter is 34 then after 34 bars it will look for a new low.
The second reason is that there might be a bug in the original indicator.
I found the bug in the actual zigzag indicator since this version was posted.
I have not yet checked this version for the same bug.
Robert Hill aka MrPip
Take profit EA
As a newbie all i observe that zigzag is one of the profitable indicator combine
with other indicator, and can be a system. All i ask from my fellow trader if
any one who can design An EA base on ZIGZAG to take profit. But it will be
programmable to have confirmation of other indicator. Hope that someone
generous enough to provide that program.