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Thread: Double edged sword

  1. #1

    Default Double edged sword

    Hi Mr Funyou,
    thanks for your great work.I want to burden you again.There is a strategy I used to test anual that had great potential but I gave it up bcos i couln't stay by the computer always.However with automated trading it would be a good idea to make into an EA.

    I would like to call it the double edged sword (lol)

    Basicaly the strategy goes like this:

    indicators:
    zig zag indicator.

    if the zig zag indicator is suggesting a reversal we wait to after the close of 2 candles(ie two candles after the candle with the zig zag point) we wait for two candles bcos experience shows that 70 % of the time if the zig zag point does not move after the close of two candles, the reversal goes thru!

    Depending on the direction of the reversal, we place a buy/sell order Xpips from the high/low of the last candle and a stoploss X pip from the high/low of the
    first candle(ie the candle with the zig zag point)

    take profit could be any value(discretional).

    the nuber of candles b4 buy/sell order can be placed can also be changed(that is put in a variable in external variable) so that optimisation can bre carried out to get the best settting.

    after profit is taen, we wait for the next sign of reversal as indicated by the zig zag indicator.

    I would be very happy if this can be coded as it really showed great potential when i manually demo tradd it some tie back and it can work on any pair with any time frame.

    looking forward to hearing from you.
    Thanks in adavance sir
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  2. #2
    Administrator funyoo's Avatar
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    Hi enabu,

    I don't see how to do that with the basic zigzag, I could do it only with a nonlag zigzag like the High_Low v2 indicator.

  3. #3

    Default nonlagzigzag

    Quote Originally Posted by funyoo View Post
    Hi enabu,

    I don't see how to do that with the basic zigzag, I could do it only with a nonlag zigzag like the High_Low v2 indicator.
    mr funyoo,
    didn't know a nonlag zigzag indicator exist.seem like a better indicator from the name"nonlag". how accurate is it?does it move like the basic zig zag indicator? i just came back from work and trading is over so i cab't see how it works.
    i have some addition suggestion to give to filter out false signal but if the indicator is nonlag then no point using a pending order;just enter a trade when t signals reversal!please enlighten me on how it works so i would be able to decide if there would be a need for filtering false signal the way i filter it when i manual trade.

    looking to hearing from you,
    thanks

  4. #4
    Administrator funyoo's Avatar
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    Quote Originally Posted by enabu View Post
    mr funyoo,
    didn't know a nonlag zigzag indicator exist.seem like a better indicator from the name"nonlag". how accurate is it?does it move like the basic zig zag indicator? i just came back from work and trading is over so i cab't see how it works.
    i have some addition suggestion to give to filter out false signal but if the indicator is nonlag then no point using a pending order;just enter a trade when t signals reversal!please enlighten me on how it works so i would be able to decide if there would be a need for filtering false signal the way i filter it when i manual trade.

    looking to hearing from you,
    thanks
    Yes it is more accurate, it takes some bars before to update itself. Once the new zigzag is drawn, then it stays like that, etc... you will see clearly how it is when you will be able to test it.

    Here is the expert advisor based on this indicator : High Low v2 EA

  5. #5

    Default thanks

    Quote Originally Posted by funyoo View Post
    Yes it is more accurate, it takes some bars before to update itself. Once the new zigzag is drawn, then it stays like that, etc... you will see clearly how it is when you will be able to test it.

    Here is the expert advisor based on this indicator : High Low v2 EA
    thanks mr funyoo,

    you are the bomb.the greatest thhing that has happend to me in forex is finding this site.i have been groping for 12 months now i am begining to see the light in the tunnel.

    if the nonlag zigzag indicator is non repainting then why is it not the holy grail.sorry for these naive questions.
    and one more questions:Are u an Angel??(bcos i have read loads uf thread and u have put so much effort to help people on here.God bless u!

  6. #6
    Administrator funyoo's Avatar
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    Quote Originally Posted by enabu View Post
    if the nonlag zigzag indicator is non repainting then why is it not the holy grail.sorry for these naive questions.
    Because, it can't forecast the future and to be drawn at the current bar. It will be drawn in the 4-5 previous bars. Sometimes less, sometimes more.

    Quote Originally Posted by enabu View Post
    and one more questions:Are u an Angel??(bcos i have read loads uf thread and u have put so much effort to help people on here.God bless u!


    I'm SuperSquirrel. Sometimes I go in a bank and I hack a computer to help people !



    When I'm able to help, then it's a pleasure. When we think about it, we are a whole of cells and bacteria that help each other to survive and to evolve together. We should do the same between us.

  7. #7

    Default modifcstion of EA

    Quote Originally Posted by funyoo View Post
    Because, it can't forecast the future and to be drawn at the current bar. It will be drawn in the 4-5 previous bars. Sometimes less, sometimes more.





    I'm SuperSquirrel. Sometimes I go in a bank and I hack a computer to help people !



    When I'm able to help, then it's a pleasure. When we think about it, we are a whole of cells and bacteria that help each other to survive and to evolve together. We should do the same between us.

    Well, am glad that people like you exist.You make one have faith in the world again.


    I was thinking this EA can be improved(the zig, zag high/low)

    Profit taking or stop loss should not be a hard value rather it should be based as follows.

    immediately position is opened, three candles are counted(the candles should be the three before the entry candles) and exit/stoploss/take profit placed x+spread pips above te high of the highest candle (for a sell position )and (the low of the lowest candle) if the position is a buy.As each new candle is closed, the three candles are recounted and the takeprofit/stoploss/exit placed again.During the count, if a candle is found to be engulfed by the previous candle it is passed by and another candle that qualifies is used,
    please can u do this?
    Thanks in advance

  8. #8
    Administrator funyoo's Avatar
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    Quote Originally Posted by enabu View Post
    I was thinking this EA can be improved(the zig, zag high/low)

    Profit taking or stop loss should not be a hard value rather it should be based as follows.

    immediately position is opened, three candles are counted(the candles should be the three before the entry candles) and exit/stoploss/take profit placed x+spread pips above te high of the highest candle (for a sell position )and (the low of the lowest candle) if the position is a buy.As each new candle is closed, the three candles are recounted and the takeprofit/stoploss/exit placed again.During the count, if a candle is found to be engulfed by the previous candle it is passed by and another candle that qualifies is used,
    please can u do this?
    Thanks in advance
    Here it is.
    Attached Files Attached Files

  9. #9

    Default thanks a billion sir

    Quote Originally Posted by funyoo View Post
    Here it is.
    Thanks mr funyoo.I can't wait for the market to open to forward test this.will post the result(unfortunately, my computer memory is too low to download metaquote's data for backtest and optimisation)
    thanks a billion sir!

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