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Thread: Ilan Sniper

  1. #1

    Default Ilan Sniper

    Ilan is probably the best martingale grid trading program publically available for MT4.

    However, if left alone, it will almost always crash accounts (or at least send them into deep drawdowns).

    I had an idea I was hoping you could aid me with Funyoo.

    That is -- combining Ilan (attached) with the Sniper Commercial Indicator (here: Forex Trading System, Forex Trend Trading System, forex Online Trading System MT4 - Sniper Forex)

    My idea was to take the Ilan version attached and add the Sniper Trend indicator as a trade limiter.



    I have put the my Sniper indicator on a chart to illustrate.

    Ignoring the Sniper Stop (the dotted line) my idea was to have Ilan begin to trade in the direction of the Sniper trend when ALL indicators match up.

    As soon as all the indicators DO NOT match up, then Ilan will continue opening up its current set of positions, but will not start another set of positions once that set is finished.

    If all the Sniper indicators do not match up then no new set of positions is started. If all the Sniper indicators match up then another set of positions can be opened after the current set is shut.

    In the above picture, the Ilan would continue to start new sets of positions going long inside the blue boxes and short in the red boxes.

    Out side those boxes, Ilan would look to keep taking positions based on its grid martingale logic -- but not open a new first position unless all the indicators match up in a direction.

    The idea is to only have Ilan operate in the direction of a strong trend and to not open new sets of trades once the current number of positions are closed out during non-strong trends.

    I would be most appreciative if you could program this up for us Funyoo, as I think it may be a good way to tame Ilan and have it work safer.

    It is how I operate Ilan manually, but it would be great to see if it can be automated.

    I have changed the Ilan version attached. The one I have attached has 3 variables which might be of use.

    Disable if TP is reached (set as true when not all indicators agree)
    Disable Buy (when all indicators say sell)
    Disable Short (when all indicators say buy)

    It might be worthwhile to keep the RSI limitator in there too. It may stop the Ilan taking a position on extreme RSI's during a trend and waiting till they have pulled back slightly.


    Ilan places trades on a new bar open. I think this might need to be investigated, because if Sniper is being used on a 1 hour chart, then this could cause a problem. Two solutions are to investigate if a new trade is needed (ie the price movement is more then the pip step variable) every a) x minutes or b) grid it absolutely, where if the pip step is 30, then every 30 pips a position is taken.

    Unless of course the Sniper Variables can be modified to calculate as if they are on a 1 hour chart, but are really attached to a 1 (or 5) minute chart.

    Thank you.
    Attached Files Attached Files
    Last edited by Luther_Blissett; 01-27-2010 at 12:11.

  2. #2

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    I think this is a great idea, and might reduce risk/increase profitability of Ilan_RSI (or any other version).

    Looking forward to testing this. Let's hope Funyoo does see the opportunity as well and has the time to implement Sniper into Ilan.

  3. #3
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    Default

    Luther
    can 2nd, 3rd etc martingale positions also be opened when indicators do not match with the initial trend?
    Rolf

  4. #4

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    I think it should...as Luther also describes.

    Once a position is opened (in direction of the trend following sniper signals), and trend reverses, consecutive positions should be opened as usual, M-gale style.

  5. #5
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    Quote Originally Posted by Snowski View Post
    I think it should...as Luther also describes.

    Once a position is opened (in direction of the trend following sniper signals), and trend reverses, consecutive positions should be opened as usual, M-gale style.
    was not clear to me.

    However this will not resolve the problem of wiping an account at all. If you are long and the trend reverses then you have to close the trades or you are out. Martingale is fine as long as the trend is in the direction of the postions you open.

  6. #6

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    The idea is to stop creating new sets of positions as soon as one of the indicators stop agreeing.

    Eye-balling the charts, rarely does the first indicator change then the trend reverse dramatically without a pull back.

  7. #7
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    Quote Originally Posted by Luther_Blissett View Post
    The idea is to stop creating new sets of positions as soon as one of the indicators stop agreeing.

    Eye-balling the charts, rarely does the first indicator change then the trend reverse dramatically without a pull back.
    True - it is rare but it happens. Look at Dec 2009, when we had a drop in eurusd without any major retracement so far. And this will happen again and again. The only way to prevent this is to withdraw the money in periodical time frames. don't underestimate these moves even if they represent only a few percent of the market's moves.

  8. #8

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    I looked at December 2009. I do not see the problems you describe with the system. I don't think you are correctly understanding the logic.

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