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Thread: Floor Trader EA (Request)

  1. #1

    Default Floor Trader EA (Request)

    Hello Funyoo,

    I`m using this old school manual strategy with a great deal of success, I wondered if you would be interested in coding an EA for it , I believe there is good potential for a sound EA , plus it works on everytime frames ( but as usual, larger = safer )

    The Original Method is here : The Floor Trader Method

    The Strategy only uses 2 simple indicators : 9 MA and 20 EMA and is based on retracements

    A Sell example would be price under the 9 MA and 20 EMA, price coming up and having a High over the 20 EMA we then put a Sell Stop at the Low of the previous Bar and we take profit at the fractal level in that same direction .
    There are 2 Levels of risk, Level 1 price closes above 9 MA, Level 2 above 20 MA

    A bit tricky to describe but I`ve attached a visual example

    Filters you would need :

    - Levels : choose if you want to trade Level 1 and Level 2 entries
    -MA slope : better to use this strategy when the trend is stronger, therefore when the slope of the MA is high
    -MA distance : the distance between the 2 MA's, bigger the better

    Here is an example :


    If you need more details, I'm listening
    Attached Images Attached Images Floor Trader EA (Request)-floortrader-jpg 

  2. #2
    Administrator funyoo's Avatar
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    Default

    Quote Originally Posted by julz View Post
    Hello Funyoo,

    I`m using this old school manual strategy with a great deal of success, I wondered if you would be interested in coding an EA for it , I believe there is good potential for a sound EA , plus it works on everytime frames ( but as usual, larger = safer )

    The Original Method is here : The Floor Trader Method

    The Strategy only uses 2 simple indicators : 9 MA and 20 EMA and is based on retracements

    A Sell example would be price under the 9 MA and 20 EMA, price coming up and having a High over the 20 EMA we then put a Sell Stop at the Low of the previous Bar and we take profit at the fractal level in that same direction .
    There are 2 Levels of risk, Level 1 price closes above 9 MA, Level 2 above 20 MA

    A bit tricky to describe but I`ve attached a visual example

    Filters you would need :

    - Levels : choose if you want to trade Level 1 and Level 2 entries
    -MA slope : better to use this strategy when the trend is stronger, therefore when the slope of the MA is high
    -MA distance : the distance between the 2 MA's, bigger the better

    Here is an example :


    If you need more details, I'm listening
    Hi julz,

    Here is an EA.

    It is not very clear to me. The two ma have to go in the same direction and up for long, down for short ?

    The candle has to open over/under both MA for the two levels ?
    Attached Files Attached Files

  3. #3

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    Thank you for your quick reply . I should have been more precise, here we go .

    Level 1 Short :

    - 9 SMA < 20 EMA
    - High[1] < 9MA
    - High > 9MA && High < 20 EMA
    - Entry ( Stop Sell ) : Low[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Level 1 Buy :

    - 9 SMA > 20 EMA
    - Low[1] > 9MA
    - Low < 9MA && Low > 20 EMA
    - Entry ( Stop Buy ) : High[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Level 2 Short :

    - 9 SMA < 20 EMA
    - High[1] < 20 EMA
    - High > 20EMA
    - Entry ( Stop Sell ) : Low[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Level 2 Buy :

    - 9 SMA > 20 EMA
    - Low[1] > 20EMA
    - Low < 20EMA
    - Entry ( Stop Buy ) : High[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Visually I`m using those filters :

    - MA Distance, if the MA's are too close I don`t take the trade
    - MA Slope : if the MA's are too flat I don`t take the trade

    Something to experiment with : Opening 2 trades, same SL, but one takes profit at fractal ( like described previously ) and the second take profit when price hits 9 MA again .

  4. #4
    Administrator funyoo's Avatar
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    Quote Originally Posted by julz View Post
    Thank you for your quick reply . I should have been more precise, here we go .

    Level 1 Short :

    - 9 SMA < 20 EMA
    - High[1] < 9MA
    - High > 9MA && High < 20 EMA
    - Entry ( Stop Sell ) : Low[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Level 1 Buy :

    - 9 SMA > 20 EMA
    - Low[1] > 9MA
    - Low < 9MA && Low > 20 EMA
    - Entry ( Stop Buy ) : High[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Level 2 Short :

    - 9 SMA < 20 EMA
    - High[1] < 20 EMA
    - High > 20EMA
    - Entry ( Stop Sell ) : Low[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Level 2 Buy :

    - 9 SMA > 20 EMA
    - Low[1] > 20EMA
    - Low < 20EMA
    - Entry ( Stop Buy ) : High[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar

    Visually I`m using those filters :

    - MA Distance, if the MA's are too close I don`t take the trade
    - MA Slope : if the MA's are too flat I don`t take the trade

    Something to experiment with : Opening 2 trades, same SL, but one takes profit at fractal ( like described previously ) and the second take profit when price hits 9 MA again .
    Hi julz,

    Thanks for the explanations. Here is a new version.
    Attached Files Attached Files

  5. #5

    Default

    fantastic, I`ll give it a shot right now

  6. #6

    Default

    Hi Funyoo,

    I've been running this one in visual mode to troubleshoot a bit more, overall it's pretty close, the main problem coming from I've I written before !

    For example :

    Code:
    Level 1 Short :
    
    - 9 SMA < 20 EMA
    - High[1] < 9MA
    - High > 9MA && High < 20 EMA
    - Entry ( Stop Sell ) : Low[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar
    Is actually wrong !

    it should be :

    Code:
    Level 1 Short :
    
    - 9 SMA < 20 EMA
    - High[2] < 9MA
    - High[1] > 9MA && High[1] < 20 EMA
    - Entry ( Stop Sell ) : Low[1]
    - TP : last Fractal in the same direction
    - Order expires after 1 Bar
    Sorry about the confusion, we should basically shift the logic by one bar, the EA is currently opening one bar too early therefore the order expires too quickly, my bad ..

    Oh, Also the 20 MA is EMA (right now it`s set to SMA).

  7. #7

    Default

    To complement this, an other idea would be too add yet an other filter if the candlestick crossing the MA, the decisive candle stick ( the one from the bar before ) is a Doji only. I visually do this when I trade manually, but implementing it would be great . I`ve got no idea how, but I saw a candlestick EA somewhere in the forum, I wonder if we could reuse part of the code to return the CandleStick type and then filter accordingly, and maybe give a few boolean parameters for the EA like : trade Doji, trade Hammer, trade shooting star, etc ..

    Just an idea

  8. #8

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    I've just realised you've already implemented a Shift variable in your code, discard my comment above ..

    So, playing with the EA it seems to have problems with the TP, it takes profit too early instead of TP at the Fractal, see the screenshot below
    Attached Images Attached Images Floor Trader EA (Request)-floortrader2-jpg 

  9. #9
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    Default

    This system is very similar to the way many institutional traders operate. There are a few variations (eg. 21 EMA instead of of 20 EMA, etc) still they all want to capture the price momentum and its acceleration based on the price action vs 20 EMA (or 21 EMA).

    They would also use one additional filter of 200 EMA. The rule for the trend trade (as opposed to a countertrend trade):
    Short trades: Price < 200 EMA and 21 EMA < 200 EMA
    Long trades: Price > 200 EMA and 21 EMA > 200 EMA

    Other rules as posted by julz above. Hope this helps. Cheers.

  10. #10

    Default

    Yep, just trying to iron out the take profit issue right now, then I`ll look at the stop loss . And then more filtering

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