My New Day Trading System-rate and test - page 8
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This happens in backtests, course...
Nylon Hi.
Your problem sounds more like you are calling the Williams_Trade Indi into an ea of yours with iCustom and it is screwing up.??
There should be no problem in placing this indi into the indicators folder as per any normal mt4 indicator.
You cannot backtest this or any other indicator except manually by attaching it to a do nothing ea and watching it scroll by without calling iCustom I would think. Let me know if this is indeed what you are trying to do and maybe I can suggest something.
Regarding your earlier comment re the trailing stop. I don't get your drama with it.
The code as follows is very logical and as one would expect. Totally reliant upon your setting and the effect spread may have I would think. Has never let me down and I trade live with other ea,s that have this exact code. But if you can see an error I would love to know.
********************
if(TrailingStopMode && TrailingStop > 0) {
if(Bid - OrderOpenPrice() > Point * TrailingStop) {
if(OrderStopLoss() < Bid - Point * TrailingStop) {
OrderModify(OrderTicket(), OrderOpenPrice(), Bid - Point * TrailingStop, OrderTakeProfit(), 0, MediumSeaGreen);
*****************
Cheers.
Weekend risk
I think would be a good idea to input something to prevent the EA leave open tradings in weekends... this can destroy an account...
I think would be a good idea to input something to prevent the EA leave open tradings in weekends... this can destroy an account...
Your probably right but I found using real money and making a living with forex kind of keeps your attention on what trades you want open over a weekend or not. I have always found turning the experts off and pulling the plug sufficient, but there there are a good number of close all order type scripts you can find on this great forum if you do a search that will close everything irrespective of whether a human or bot placed them. The
close-all-open-tools thread is somewhere you could have a look.
I am happy to add stuff to the ea over time but as I mentioned before, I would really like to get a grip on Cy's system which is what this thread is all about firstly and then maybe put it all together.
Cheers.
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 brookey, just a quick preliminary reply for now:
Yeah it couldn't break the resistance at .22 and fell smack dab back down. Got stopped out . It fell for a few hours and then tried again, this time breaking through. Wasn't able to take that one though.
That money map indicator that I posted clearly shows the resistance that the price will have to break through at the time that the trade is triggered. You can't treat it like holy writ though because as we know the price does what it wants in the end.
Scripts
So, there's scripts that can close all orders in a specific date and time? I'll search for it..
Possible Long: EUR/USD
There's a nice long developing on the EUR/USD chart right now. I like how the price has been depressed for a good bit of time. Look's like resistance will be about 30-40 pips above from where the trade will be triggered at around .70.
William's 2000 on the 1 hour is around -80. Not great for us but it is moving upward.
A Note About Being Stopped Out
I said it earlier on in the thread but I want to say it again here:
Sometimes the price is unable to break through the -40/-60 level the first time. This happened to me last night with AUD/USD and happened 3 times with NZD/USD this morning. Often times (most of the time) what will happen is that the price will eventually break through so that we will either break even or make a small profit in these cases.
This is part of the over all system and can not be helped. No system is going to be able to predict what the price will do 100% of the time. The idea here is to catch enough 'easy trades' with no whipsaws to more than make up for the flak we take when the price can't make up it's mind.
To be profitable a system must show a decent Return On Investment and this can not be realized without consistent application of the system. If you are easily deterred by whipsaws then this may not be the system for you. You have to take them when they come. What Brooky said about it being hard before it can be easy applies here. You really must take the long view when trading Forex (what's called the Meta Trade or simply, all of the trades taken together) and consider all of the trades over a large sample.
I suggest only trading on days when you can stick around for several hours as you may have to re-enter the trade a few times before it takes off. Then you have to manage the post entry part of the trade and that takes time too.
Of course, if a profitable EA can be made then that would eliminate the issue.
I'm thinking of creating a filter based on the amount of resistance/support that a given trade would have to punch through + the position of the William's 2000 on different time frames. What do you think Brook?
______________________________
About the up coming trade:
The price is heading north fairly quickly. The last major resistance before we are triggered appears to be at .33. I'm hoping of course that it settles above .33 and then spring boards up to .70. At that point it becomes a question of taking the 15-20 pips or seeing if we have reason to stay in, going for the pay day.
In that vein, long term resistance looks to be around .3321 and then it looks to be clear all the way up to .3390.
Possible NZD/USD Trade
The price on NZD/USD just took a sharp dip, brining it into the trade zone for a short. Right now it's sitting on -40. However I find the drop a bit suspicious. There is major support all the way down so I think I'll be staying far away from this one even though the WIlliam's 2000 on the 1 hour chart is also at -40, which is pretty ideal.
I don't feel that it's worth the risk. Even as I type the price is bouncing off of the support at the -40 level and even if it were to hit the trigger at -60 there would still be plenty of mid and long term support that it would have to punch through to even scrape 20 pips.
Please disregard this post. I posted the wrong pic here.
Ayyyy I attached the wrong pic!
Sorry about all the posts.
This is the correct pic.
Note the three horizontal bars around .05. The 4 vertical bars represent the 1 min, 5 min, 15, and 60 time frames. The horizontal bars are the relative location of moving averages. Some of them are fib lines. It's a simple concept but remarkably the price respects these levels quite a bit. My personal theory is that it's because it's such a convention amongst traders. Sort of a self fulfilling prophecy.
Anyway, I have observed that when they line up across time frames it is usually strong support zone. That's what's happened here. Twice it fell back to the trigger price (.05, triggered at -40) and bounced off of that support blanket. The indicator depicted above, the one with red below and red above is a version of Money Map that takes a longer view and shows further support.
Anyway, I find it useful for managing my position.