My New Day Trading System-rate and test - page 7
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20 pips is ok as long as it's your way :-)
Must say the Asian market was awkward today. Check out the AusUsd pair. Lesson on why stop losses are important.
I have always had a liking for Rate of Change style indicators as they often give early warning of impending doom or riches. I have added a Williams ROC Indi that is in line with your M1 2000 period concept to help in filtering trades.
I found it very helpful in showing me the underlying strength and movement of what I was seeing in the Williams curve.
On top of the Williams ROC is a semi momentum ROC that helps me see price action within the Williams ROC envelope.
I can see a host of regular trading signals within your 2000 concept and will try to define what I see as I have time.
So in a nutshell.
1-Previous indi has been updated with the ability to turn off the horizontal lines. Too resource hungry if you have a lot of charts open.
2-Best settings for the indi for M1 that I have found so far for your concept as follows.
WilliamsTradeV1.1.mq4 M1 possible set
extern int wperiod=2000;//williams percent
extern int short_level=-60;//williams level to go short from
extern int long_level=-40;//williams level to go long from
extern int ma_period=21;//williams averaging curve
extern int valid_bars_back=30;//Bars to look back as needed to be below or above trigger point
extern bool show_trigger_lines = false;
Another interesting setting is charted below with WPR at a low 55. Good for scalping/short intraday ??
WilliamsTradeV1.1.mq4 M1 possible scalp set
extern int wperiod=55;//williams percent
extern int short_level=-60;//williams level to go short from
extern int long_level=-40;//williams level to go long from
extern int ma_period=34;//williams averaging curve
extern int valid_bars_back=100;//Bars to look back as needed to be below or aabove trigger point
extern bool show_trigger_lines = false;
3-New Williams ROC indicator included in zip file.
4-Settings for M1 as default for Williams ROC indi
WilliamsROC_V1.1.mq4 M1 Possible set
extern int wperiod=2000;//Williams % Period Default 2000
extern double short_level=0.618;//your visual short trigger line
extern double long_level=-0.618;//your visual long trigger line
extern int WPI_Array_ma_period=7;//WPI Array smoothing Period
extern int Price_Array_ma_period=7;//Price Array smoothing Period
extern int start_bars_back=55;//Base point to start rate of change from
extern int Price_Multiplier=1000;//Increases Visual Price Movement 1000 for M1//100 for H1 approx
extern bool show_trigger_lines = false;
5-Template included as per the following chart. Same deal, just pop em where you know you should.
Following is a chart with indis attached from today.
I have highlighted a few points that I found interesting and extremely trade-able as per your system. I am noticing nice signs for swing trading which is my preferred style and will strive to get a clean 1-2-3 chain of events sorted for some quality signals. Just need some time to absorb.
I am running backtests on the Ea which will take a while yet as the poor ol box has about 10000 cycles to go. My preference is to manually trade but if an EA can be made to work, I will use them to give me the signal with manual confirmation. Saves a lot of scanning on my behalf I say.
I am going to keep working on getting the array triggers into the EA as I believe they are most reliable. Will scratch my head for a bit on that one.
Anyhow enough for now. Charts and indi zip below. Cheers from Oz.Wow, these indicators look great Brooky. I notice that the William's Trade when set to 2000 is a few bars off but I love the concept. It's great to be able to see the trade on the price line itself.
The ROC is very interesting as well. It looks like with proper money management and proper filter it could be a great stand alone signal.
Perhaps taking a signal from the ROC that's in line with the William's Trade would be enough?
Hi all.
Nice to see a bit of interest. Thats how these things progress.
In Response to a few comments
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The ROC is very interesting as well. It looks like with proper money management and proper filter it could be a great stand alone signal.
Perhaps taking a signal from the ROC that's in line with the William's Trade would be enough?
*************
I would have to agree. I noticed some super signals from the ROC but have not had time to really check them out. Definitely worth the effort though I think.
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I notice that the William's Trade when set to 2000 is a few bars off
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The external setting (ma_period=34;//williams averaging curve) controls how early or late the signal comes as it is triggered by the curve not the bar. I have attached an explanation chart that might clear that up. The smaller the average the earlier the entry the higher the whipsaw risk. Up to your wallet really.:-)
I must say I agree with the human at the helm bit. Thats me as well but Ea's intrigue me and my desire to sit at the beach while millions pour in automatically. Till then moreeeeeeeee screen time. It ain't easy till it's been hard.
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look at the William's at the one hour level
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Same thought exactly. I am nearly finished with a multi time frame WPR indi to support that idea. Fantastic as a confirmation tool. Post it soon.
Nylon was a little confused so just quickly.
1- Williams Trade indi will give you a signal based on an MA on the WPR.
2-Williams ROC is a Rate Of Change of the WPR indi used for confirmation. While you can deduce a signal from it, it will not draw any arrows.
3-Williams Trade EA is using simply the raw WPR crossing at your determined levels.
I know some of you are using this EA. (REMEMBER it is at your own risk. It was put together for proof of concept only to assist in finding different criteria through the strategy tester and to allow others to add filters. Without filters it will kill you in chop.) If we can find some definite reliable triggers through our discussions here is when certainly myself would consider attempting a live trade possible EA. In saying that, my testing box is up to cycle 607 with many more to go to get a set of basic trading parameters. Let you know when it's done.
Cheers till next time.
I just bought AUD/USD at 11:46 pm.
Thank you Brooky.
I'm demoing the williamstrade1.rar and williamstrade2.rar in 12 pairs (5 digit) and will post the results. The initial deposit in the demo accounts was $3000.
First result: $26.72 in GBPCHF. 0.50 lot position.
My set to both is TP 900 SL 150 TRAILING 95
Nylon was a little confused so just quickly................Cheers till next time.
EA Trailing stop
First result: $26.72 in GBPCHF. 0.50 lot position.5
What kind of Trailing Stop the EA's uses?
Consider that there is 2 kinds:
forextac.com/forex-mt4-expert-advisors-to-manage-your-take-profit.html
iF the trailing method is the same of MT4, the $26 profit with a .50 position was 147 pip positive before fall to 52
95 of trailing stop + 52 (close position) = 147
iF the method was the STEP, profit should be 95*.50 = $47.5.
was clear?? Sorry for the crappin english..
What kind of Trailing Stop the EA's uses?
Consider that there is 2 kinds:
forextac.com/forex-mt4-expert-advisors-to-manage-your-take-profit.html
iF the trailing method is the same of MT4, the $26 profit with a .50 position was 147 pip positive before fall to 52
95 of trailing stop + 52 (close position) = 147
iF the method was the STEP, profit should be 95*.50 = $47.5.
was clear?? Sorry for the crappin english..Better to search in the source: https://www.mql5.com/en/forum/172924
I just bought AUD/USD at 11:46 pm.
Nice :-) I caught it on the way down from xx92 from your signal. $$
I am posting a chart below with the Williams ROC, Williams Trade and the new Multi TF Williams. This will be my last of the indis as I think we have enough to turn williams inside out and upside down with all the variables.
One question though is that your chart AudUsd shows the WPR 2000 at -40 while here I have it at only just touching -60. I checked with the generic Mt4 WPR and it is exactly the same -60 ???Brokers feeds perhaps.
I am looking to see how the -40 cross up goes but by my reckoning this would put it smack on major resistance. Would have to get a little extra confirm for myself. See how it goes.
Anyhow if I had been paying attention I would have taken the trade up like you based on what I saw in the signals which is a little more towards what we discussed with the ROC.
The Multi_Williams colors are
1-Red -- M1
2-Green M15
3- H1
If you use the 2000 m1 period, the other Tf's adjust automatically to 133 for the M15 and 33 for H1. This is dynamic and will change according to the M1 WPR period you enter. Just remember that it is dividing by 60 for the H1 so don't put anything less in.
The indi can give arrow signals if you turn them on, but you will need to enter the criteria yourself. I have prepared all the variables so it's dead easy. If it's all too hard I am happy to set the triggers up if you have been kind enough to analyse some good ones for us. Just note the crosses you want and levels etc and pop em up here on the forum.
Back to the AudUsd trade and why I would have taken it if I had been paying attention.
1-The Multi TF WPR had the M15 and M1 coming nicely up from way down with the H1 leading the way (have a close look at H1 and the damn thing looks positively predictive bars way back ? )
2-The ROC had a nice 0 cross with PA coming up from an extended low
3-The 21/2 Bollie was flat on the bottom with a kick up on top and the 21/1 had already reacted.
Note that this is not the trigger as Cyclesurfer has suggested, but another way to look at it.
Attached is a chart as I see the world and a zip file with the complete set of indis and template-not ea.. All indis now have the ability to show only x bars. much quicker.
Oops got the signal to buy AudUsd according to my WPR values ??. Better go and pay attention.
Cheers.
Hey Guys n Dolls,
Just noticed that the Multi_Williams indi is not refreshing quite as quickly as it should. For the moment just right click and refresh it.
To any Guru Coders out there, would anyone be so kind as to have a look at the code to see where the glitch is.
It is drawing ma,s on arrays and is working on the other indis but strangely on this one. Individual file attached.
error
Installed all williamstrade3 files, but only got the message
13:03:17 2009.10.26 00:00 WilliamsTradeV1.2 EURUSD,M1: SetIndexBuffer function must be called from custom indicator only
Backtest
This happens in backtests, course...
Installed all williamstrade3 files, but only got the message 13:03:17 2009.10.26 00:00 WilliamsTradeV1.2 EURUSD,M1: SetIndexBuffer function must be called from custom indicator only