Advanced system #5 (Trend Lines Breakout System)

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

Postby hotjoey » Sat Mar 26, 2011 4:56 am

Haydel wrote:
Paludo wrote:Version 1.2.4 will help everyone to set the right settings.


Hi, Haydel,
Excuse me for my stupid questions. :shock: But I really need your help on these two:

1. How the pivot point in the EA works? Does it calculate the R,S based on the past 24 hours candles? Does it automatically calculate based on the EST time?
Edward says in his thread that: from middle night to 4:00 AM(EST) choose the 5 candles.
Does it mean that the pivotpoint is from 23:00 to 0:00(EST)? For my broker timezone(GMT+3), should I adjust the pivot point timezone from 6:00 AM(gmt+3) to yesterday's 7:00 AM(GMT+3)?

2. Could you please do me a favor that make a procedure showing how to backtest this EA? I am newbie on this. When I attach the EA to a certain pair, I change the parameters of EA properly. When I press the "Ctrl+R" to show the EA setting windows, show as screenshot. After I change the Expert Properties, save and quit, such as the "Variable". When I open the properties again, it is still not changed. :cry: :cry: :cry: :cry:
Attachments
backtest of EA----about the daylight time.JPG
backtest of EA.JPG
backtest of EA----Setting properties.JPG
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby Haydel » Sat Mar 26, 2011 10:47 pm

hotjoey wrote:...
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.
...


I see that some of you are having bad results back-testing the EA with historical data. I know that results are going to be different on different brokers, but they should not be too different. So, a very important rule that everyone should follow when back-testing any EA with Metatrader 4 is:

    Never back-test with Metatrader 4 during the weekend

The problem is that Metatrader 4 uses historical data where only the Bid price is known. That is a big flaw of Metatrader 4. Since the Ask price is not present in historical data, Metatrader 4 calculates Ask price based on the current spread. That is why we always get different results form one test to another but things get worse on the weekend. Brokers usually widen their spreads over the weekend, for example Alpari UK uses a spread around 2 pips for GBP/USD during the week, but over the weekend that spread is 30 pips. If you back-test any EA during the weekend, 30 pips spread will be used for all the historical data being tested giving you loses in almost every trade.

So every time that you are going to back-test any EA, be sure that the current spread (the spread at the moment of the back-test) is at a "normal" level, usually several hours after markets open.

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

Postby Haydel » Sat Mar 26, 2011 11:36 pm

hotjoey wrote: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.


inpPivotsStartHour is based on Eastern Time.

When you set the right timing settings, then Pivot Point will be calculated based on Eastern Time.

inpPivotsStartHour = 0 means Eastern Time midnight.
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby Haydel » Tue Mar 29, 2011 10:29 am

Version 1.2.4 Shorted GBP/USD this morning. The trade ended with 60 pips profit.
Attachments
tlbs_20110329_gbpusd.PNG
Haydel
 
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby Haydel » Tue Mar 29, 2011 10:06 pm

hotjoey wrote:Hi, Haydel,
Excuse me for my stupid questions. :shock: But I really need your help on these two:

1. How the pivot point in the EA works? Does it calculate the R,S based on the past 24 hours candles? Does it automatically calculate based on the EST time?
Edward says in his thread that: from middle night to 4:00 AM(EST) choose the 5 candles.
Does it mean that the pivotpoint is from 23:00 to 0:00(EST)? For my broker timezone(GMT+3), should I adjust the pivot point timezone from 6:00 AM(gmt+3) to yesterday's 7:00 AM(GMT+3)?

2. Could you please do me a favor that make a procedure showing how to backtest this EA? I am newbie on this. When I attach the EA to a certain pair, I change the parameters of EA properly. When I press the "Ctrl+R" to show the EA setting windows, show as screenshot. After I change the Expert Properties, save and quit, such as the "Variable". When I open the properties again, it is still not changed. :cry: :cry: :cry: :cry:


Joey,

In your first image you ask: Does this one mean that the EA will automatically change the time zone according to the EDT and EST?
The answer is, no, you have to set inpETDaylightSavingTime = true when Eastern Time is in Daylight saving time, that is from the second Sunday in March to the first Sunday in November.

Regarding your second question, please note that in you first image you are displaying the properties of the EA that was attached to one of your EUR/USD charts, and that properties will affect only that instance of the EA.

On your second image, you are displaying the properties of the EA in the Strategy Tester and that properties are not related with the instance of the EA that you have running on your EUR/USD chart.

On your third image you are opening the properties of the EA attached to your EUR/USD chart (F7), on the other hand, if you press Ctrl+R, you will open the Strategy Tester and the EA in the Strategy Tester is not related with the EA in your EUR/USD chart.

I hope this was useful.

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

Postby blue2007 » Wed Mar 30, 2011 11:48 am

Hi, i put the EA today at my IBFX Demo Account. Is there any min Deposit? Because i started with $200. And i live GMT -3 so i think i must start the MT4 before i go to bed :)

Thanks

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

Postby lone » Tue Apr 19, 2011 3:18 am

Hi Edward,

Good job on all the effort you've made for the community. This is indeed a good and interesting system. I've gone through the strategy and all those comment and I've got some questions here.

1. You've mention about "if the length of a midnight candle (body + shadows) is less than the length of the previous candle - 23:00 EST, then we would have a greater chance of a false breakout." How's your finding to it?

2. You mention that you would normally wait as long as possible until NY market close. For a day with 2 trendlines spotted, usually it forms a triangle and there is no chance that a breakout won't occur especially closer to the two line crosses. Breakout happen near the cross could easily and possibly just break both trendline.

3. In the following page example http://forex-strategies-revealed.com/advanced/trendlines-breakout/cpage-22, isn't candle #3 is a valid swing low? or in this strategy, the swing low for the 5 candle range must also be the lowest low from the 5 candles?

4. On the strategy, it says that a protective stop is placed above/below the candle that violates the trendline. But I see that there is much discussion about such stop often get hit when break of the trendline is close to the open price of the candle. From your experience which stops is most recommended:

a) Few pips above/below the candle that violates the trendline or to say the candle that we make our entry (as strategy suggested.)
b) Few pips above/below previous candle's high/low if that is looser than the current high/low.
c) Few pips on outside the opposite trendline (this will be harder to judge when the trendline is steep).
d) Behind a pivots S/R or common S/R or Superrior S/R.

5. You mention that you're working some idea previously from the quote below, did it worked out well from your experience?
- we draw trend lines using 5 candle range after midnight AND now also 3 hours before the midnight if there is a valid swing to use.
- if we ended up using a swing before the midnight, we only draw a trend line which would allow us to trade a breakout in the direction of the main trend.
- our main trend is suggested by 200 EMA: price above 200 EMA - uptrend, below - downtrend.


6. From somewhere I've read, if not mistaken you mention that if a candle close within a trendline after breakout, you would then close the position assuming that's a false signal. Is that right?

7. You mention that you will set limit order once a trendline is identified. Does the image or attachment below justify it?

Trendline entry.png


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

Postby fx_king » Mon May 23, 2011 5:18 pm

Hey,

I've got a question with regard to the backtesting results of the EA. I found out something confusing. When starting the backtest before 2011 the EA will perform very well (almost doubles the balance) in February and March 2011 but when I start in February 2011 I lose two-thirds of my balance and I don't understand why the results are that different even though I only changed the starting point, all other parameters are the same.
Any explanation ?

Thanks for your help
fx_king
 
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Re: Advanced system #5 (Trend Lines Breakout System)

Postby jozeph » Thu Jun 30, 2011 2:52 am

Hey Haydel,

thanks for your works and the wonderful strategy.
I want to confirm your backtest for EURUSD, 2008.01.01 -- 2008.12.31, so I ran some backtests on this EA, but I never got the same result like you.
In my opinion this must be the problem of settings. So could you pls also sharing your settings for the backtest.

Thx
jozeph
 
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