Advanced system #5 (Trend Lines Breakout System)

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Re: Advanced system #5 (Trend Lines Breakout System)

Postby hotjoey » Mon Mar 21, 2011 5:34 am

Hey, guys,
May I ask a stupid question about the "time zone" please? Edward mentioned in his post that ,"Our working range includes 5 candles: from midnight to 4:00 am EST (including the 4:00 am candle)." What confuses me is that on my platform of FXDD MT4, should the timezone be FROM GMT 04:00 TO GMT 09:00?

Is the EST time= GMT -5 or GMT -4? thanks a million

thank you very much for your generous sharing and kindness.

best regards,

John.
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby Haydel » Tue Mar 22, 2011 3:12 pm

hotjoey

Eastern Daylight Time(EDT) GMT-4 --> From the second Sunday in March to the first Sunday in November.

Eastern Standard Time(EST) GMT-5 --> From the first Sunday in November to the second Sunday in March.

That means that today Tuesday, March 22, 2011 New York is on EDT (GMT-4).

New York will stay on EDT until Sunday, November 6, 2011 at 2:00 AM when clocks are moved to Sunday, November 6, 2011 at 01:00:00 EST

Regards,

Haydel
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby hotjoey » Thu Mar 24, 2011 9:35 pm

Haydel wrote:hotjoey

Eastern Daylight Time(EDT) GMT-4 --> From the second Sunday in March to the first Sunday in November.

Eastern Standard Time(EST) GMT-5 --> From the first Sunday in November to the second Sunday in March.

That means that today Tuesday, March 22, 2011 New York is on EDT (GMT-4).

New York will stay on EDT until Sunday, November 6, 2011 at 2:00 AM when clocks are moved to Sunday, November 6, 2011 at 01:00:00 EST

Regards,

Haydel


hi,Haydel,
Thank you for your reply and kindness. I thought nobody would help me. :)
I am late for this thread. Thank you for your contribution to this trading system and your EA. I'd like to test this EA. Before that, please tell me the correct settings of the parameters and rules of using it. For example, my demo account balance is $1000. Does the EA automatically calculate the lots? According to your demo performance, how is the maxdrawdown percentage? how is the profitability? If i use the EA on my live account(balance is 1000$). Do I need change the lots?
2. Another question about the bar time indicator on your screenshot, show as follow, could you please tell me the name of it? I am based in GMT+8, but my broker FXDD timezone is in GMT+3; and the EDT, EST time changing... all the stuff drives me crazy...... I think my manual setting about the timezone would damage the performance of the system. So, please introduce the wonderful indi to me.
I love you and your EA. :-) thank you so much, and best regards,

Joey
Attachments
TLBS_20110223_USDCAD.PNG
about the bar time indi.
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby hotjoey » Thu Mar 24, 2011 10:12 pm

Haydel wrote:hotjoey

Eastern Daylight Time(EDT) GMT-4 --> From the second Sunday in March to the first Sunday in November.

Eastern Standard Time(EST) GMT-5 --> From the first Sunday in November to the second Sunday in March.

That means that today Tuesday, March 22, 2011 New York is on EDT (GMT-4).

New York will stay on EDT until Sunday, November 6, 2011 at 2:00 AM when clocks are moved to Sunday, November 6, 2011 at 01:00:00 EST

Regards,

Haydel

Hi, haydel,
I just can't visit the EA link that you provide, even by proxy. Because of my Internet Server Provider, I can't access to the link of your EA download. could you please send me a copy of the EA? thank you!
mail to:[email protected]
best regards, :P

Joey
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby Haydel » Fri Mar 25, 2011 4:28 pm

Ghaz wrote:...
I dont get it with the times used in this strategy.
...


hotjoey wrote:...
May I ask a stupid question about the "time zone" please?
...


Unquestionably “timing” in this strategy is very important and also very confusing. I can tell that using wrong time parameters can seriously affect performance.

For that reason I published version 1.2.4 of the EA in order to help everyone to trade with this Strategy using the right times.

You can find version 1.2.4 here: http://sites.google.com/site/fxpassion/eas/trend-lines-breakout-system

Version 1.2.4 adds more detailed Bar Time information on the upper left corner of the chart, and that will help you to configure the EA properly.

Please proceed with the following steps after adding the EA to your charts (See attachment):

    1. Move your mouse to the last “One Hour” Bar on the chart, when the ToolTip pops up it will show your Brokers time for that last Bar. Confirm that the EA is using the correct value comparing the time on the ToolTip and the “Broker” Time shown by the EA on the upper left corner.

    2. Browse to http://wwp.greenwichmeantime.com to view the current GMT time and confirm that the EA's GMT is correct, if GMT time at the upper left corner is wrong, change the value of inpBrokerTimeZone parameter to fix the difference. The minutes are not important; we are only talking about the Hour, the moment the current Bar opened.

    3. Browse to http://wwp.greenwichmeantime.com/time-zone/usa/eastern-time/ to view the current Eastern Time and confirm that the EA's Eastern Time is correct, if Eastern Time at the upper left corner is wrong, change the value of inpETDaylightSavingTime parameter to fix the difference. The minutes are not important; we are only talking about the Hour, the moment the current Bar opened.

Once Broker Time, Greenwich Mean Time and Eastern Time on the upper left corner of your chart are correct, then the EAs timing parameters are correct.

On the other hand, this EA works on real time, that means that the EA has to be running before midnight Eastern Time, then when the time comes, the EA will draw the vertical limits then it will draw the trend lines when valid swings form and eventually the EA will place trades. The EA will not work for the day if it is started after midnight Eastern Time.

Version 1.2.4 is also optimized to work with 4 or 5 digit brokers and solves some problems that raised with pairs that where not GBP/USD nor EUR/USD.

Happy Trading,
______________
Haydel
Attachments
Time Settings.png
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby Haydel » Fri Mar 25, 2011 5:08 pm

Paludo wrote:Haydel,
I've backtested this EA and I just took bad perfomances trading EU and GU ( 01/03/2011 - 02/11/2011 ) an 10k account ended in 2-3k
I use default settings, what am I doing wrong?
Im running it on Alpari server, GMT 0, right?
help!


This was probably due to wrong time settings; please try again using version 1.2.4 that will help you to set the right time settings.

Please remember that Daylight Saving Time changes 2 times a year also need to be considered when back-testing.

Usually when Daylight Saving Time starts in Eastern Time, your Brokers Time Zone may also need and adjustment, for example, Alpari UK uses GMT+1 part of the year and GMT+2 the other part of the year.
Version 1.2.4 will help everyone to set the right settings.
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby Haydel » Fri Mar 25, 2011 8:33 pm

Dear Joey,

hotjoey wrote:For example, my demo account balance is $1000. Does the EA automatically calculate the lots?

Yes, the EA calculate the lot size according to the inpRisk parameter. This is the percentage of the account balance to risk in every trade. For example, if this parameter is 2, then the EA will risk 2% of the account on every trade, this means that the EA calculates a different Lot size for every trade based on the Stop Loss that will be used for that trade, no matter how far or close the Stop Loss is, the EA will calculate the Lot size so that if the Stop Loss is hit, 2% of the account will be lost.

hotjoey wrote:According to your demo performance, how is the maxdrawdown percentage? how is the profitability?

Please take a look at the following data backtesting from 2008 to 2011 trading GBP/USD with inpRisk = 2 :

Initial deposit 10000.00
Total net profit 341965.44
Gross profit 1761212.46
Gross loss -1419247.03

Profit factor 1.24
Expected payoff 413.50
Absolute drawdown 484.92
Maximal drawdown 155450.80 (34.84%)
Relative drawdown 44.76% (95628.92)

Total trades 827
Short positions (won %) 403 (46.15%)
Long positions (won %) 424 (44.58%)
Profit trades (% of total) 375 (45.34%)
Loss trades (% of total) 452 (54.66%)

Largest profit trade 56402.73
Largest loss trade -9554.34
Average profit trade 4696.57
Average loss trade -3139.93

Maximum consecutive wins (profit in money) 8 (3184.46)
Maximum consecutive losses (loss in money) 11 (-28484.03)
Maximal consecutive profit (count of wins) 66441.77 (4)
Maximal consecutive loss (count of losses) -44137.62 (5)
Average consecutive wins 2
Average consecutive losses 2

hotjoey wrote:If i use the EA on my live account(balance is 1000$). Do I need change the lots?

No, you only need to set the inpRisk parameter with the risk you are willing to take on every trade. The defalut value is 2. Please DEMO test this EA until you are confortable with it before trying on a live account. Some times I manually move the Stop Loss or the Take Profit levels before the EA does, some times I manually close the trade before the EA does. I'm still working on the EA so it can take that desitions by it self. One thing I'm demo testing with good results is using the EA with GBP/USD, EUR/USD, USD/JPY and USD/CHK pairs at the same time. Please remember that although I am striving to make it profitable, this is just a program and eventually could lead to losses. I'm sharing it for free, so use it at your own risk.

hotjoey wrote:Another question about the bar time indicator on your screenshot, show as follow, could you please tell me the name of it?
I am based in GMT+8, but my broker FXDD timezone is in GMT+3; and the EDT, EST time changing... all the stuff drives me crazy...... I think my manual setting about the timezone would damage the performance of the system. So, please introduce the wonderful indi to me.

That is not an indicator, is part of the EA. The EA displays H1 Bar Time information to help configure it correctly. Version 1.2.4 displays more detailed information there. The following post will guide you on how to set timing parameters correctly: http://forums.forex-strategies-revealed.com/advanced-system-trend-lines-breakout-system-t218-150.html#p6806

Happy trading,

__________________
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby hotjoey » Sat Mar 26, 2011 1:06 am

Haydel wrote:
Paludo wrote:Haydel,

Version 1.2.4 will help everyone to set the right settings.


Hi, Haydel,
Thank you for your detailed description and kindness. :) I've downloaded your latest version of EA. In the parameter only one thing still confuses me----the pivotstarttime.

I 've just run the new version of EA. I change the brokertime to 3 according to your methods. The result sometimes is good but unsteable-----plz look at the attached screenshot. After a fast growing period, the netincome seriously declined. I think there must be sth else that isn't in work.

your introduction says: "For example if inpPivotsStartTime is 0, then the previous 24 hours (0 to 23 ) will be used to calculate the Daily Pivot Points, if inpPivotsStartTime is 5, then the previous 24 hours (5 to 4) will be used to calculate the Daily Pivot Points"

So, the inpPivotsStartTime=0, it is based on your timezone GMT+2, right? My broker timezone is GMT+3, should I configure it to 2 or 3? I am not sure this.

Thank you so much, dude! :lol: :lol: :lol: :lol:
Attachments
v.1.2.4 test report.gif
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby hotjoey » Sat Mar 26, 2011 1:07 am

Haydel wrote:
Paludo wrote:Haydel,

Version 1.2.4 will help everyone to set the right settings.


Hi, Haydel,
Thank you for your detailed description and kindness. :) I've downloaded your latest version of EA. In the parameter only one thing still confuses me----the pivotstarttime.

I 've just run the new version of EA. I change the brokertime to 3 according to your methods. The result sometimes is good but unsteable-----plz look at the attached screenshot. After a fast growing period, the netincome seriously declined. I think there must be sth else that isn't in work.

your introduction says: "For example if inpPivotsStartTime is 0, then the previous 24 hours (0 to 23 ) will be used to calculate the Daily Pivot Points, if inpPivotsStartTime is 5, then the previous 24 hours (5 to 4) will be used to calculate the Daily Pivot Points"

So, the inpPivotsStartTime=0, it is based on your timezone GMT+2, right? My broker timezone is GMT+3, should I configure it to 2 or 3? I am not sure this.

Thank you so much, dude! :lol: :lol: :lol: :lol:
hotjoey
 
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby hotjoey » Sat Mar 26, 2011 3:58 am

Haydel wrote:Dear Joey,

_________________
Haydel


Hi, Haydel, Good afternoon,

Is it possible that a fixed pips of profit target is more better for me? The Take Profit of the EA is based on pivot. Is it better suitable and less confusing for trader in different timezone like me? :D

best regards,

Joey
hotjoey
 
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