Ah Ah,

All my little sreens say "THANK YOU"



Some ideas :

1 - Let the user more controls, see or not see the open trades info, the pivots and the daily range for exemple, so the indic automatically rescale

2 - Make an indi who give these infos : open trade, pivots and daily range directly on the chart, put them on the right side so the graph won't go over the comments, so little infos to display in the indi window

I try to do this next week-end

Hi FerruFx,

Thanks for sharing your system, I will try it.

Can you post your results daily? and the results for the past days?

Thank you!

Hi FerruFX,

Can you please explain the significance of "look_time_shift" value and the "test" input variables?

I noticed that the value for "look_time_shift" is hardcoded as D'2007.05.07 00:00'. Does it have to be changed manually as days go by? What if you never change it?

Thanks.

Hi FerruFx,

In answer to your question regarding my comment about weighting the TF’s, my first reaction is to say “if it isn’t broken then don’t mess with it”. Your 26 days of test results producing +991 net pips from a win ratio of 66% is truly outstanding. Your average wins of +76 pips and av losses of –(34) pips equates to a win/loss ratio in excess of 2:1. If these figures can be maintained forward, live testing, then this would be a truly magnificent trading system/methodology that many traders would die for and could produce you any amount of money you wish to make. So why change it?

Having said that, I will offer my personal observations, as you request in your post. They are not criticisms or firm suggestions, as each trader’s personality, trading style, risk tolerance threshold etc differs: so no one person is ever right and I am certainly not saying that I am. They are:-

i) Your style of being in a trade generally no longer than 24 hours is very short-term trading and could be classed as day trading. As such, the W1 plays no part in influencing where price is going today (it is more beneficial to the decision making of a ‘swing’ or ‘position’ trader).
ii) The D1 will influence it to a certain extent, but the TF that plays the most important role and has the most impact on where price is going over the next few hours (not days) is the H4. The day trader is interested in the ‘trend of the moment’ and no longer. As a day trader, the TF’s I prefer to use are H4, H1, M15 and M5 for entry. The weekly and daily indicators can be showing a strong upward trend, but then the H4 cycle kicks in for a pullback that over the next 8-12 candles/bars can produce retracements of 150-300 pips, especially with the fast moving, ATR range of the GBP/JPY pair. This 2 day reversal will only appear as a blip on the W1 and a couple of days downturn on the D1. However, it will constitute a full cycle on the H4 chart. To appreciate this, just take a look at a regular MACD on the H4 chart, looking back over a few months, observing where the histograms move from positive to negative at the ‘0’ line. Better still, adjust the MACD setting to 5, 13, 1, for slightly earlier signals. I would also add that a 2 day downturn of the D1 is generally not enough to swing the daily indys from positive to negative, so they would not warn and prepare you for the temporary retracement.
iii) Your system does not require you to trade only in the direction of the overall, underlying trend, as it will put you into sizeable retracement moves, like the one described above, thus going against the trend. This is acceptable providing it moves far enough in your favor to reach your target 90 pip TP. However, looking back over the charts I have noticed, as expected, that it will also signal you into shorter moves (and there are more of theses) that may go 60 pips in your favor, then reverse resulting in a 40 pips loss, which is an all too familiar situation when trading. I’m a believer in taking some profit while it is there, so prefer to phase out in 3 stages. If for example you wish to trade 1 full lot, then enter with 10 minis. Exit the first 4 minis at TP 30 pips, the next 3 minis at TP 50 pips and let the remaining 3 mini lots run their course, either to a preset TP or TS or whatever. The pip amounts will vary per pair. There will be fewer instances for losses, but of course you would have to backtest to see whether this would have actually produced more profit. One thing is for certain, it is mentally easier to live with when taking out regular profits.
iv) I am certainly not convinced you need as many indicators, as they can conflict, but more often than not follow each other like sheep. You can pretty well do whatever you want with 3 or 4 indys and I tend to favor the all-time favorites of MA’s, MACD, STOCHASTICS, RSI and in that order, never using more than 3 at a time. With various settings, you can get these tuned to produce the same high probability signal as that of the most sophisticated indy that traders are constantly striving to create. Price itself is the most reliable indy of all and nothing can substitute for spending hours at the screen, with any given pair to familiarize yourself with its every move and regular pattern formation. This of course cannot be boxed.
v) I really like the concept, idea, format and thought process that you have put into your indicator in bringing it this far (and with successful testing) and as per the statement in my first paragraph, would continue testing along the same lines you have. Perhaps you may consider creating another with the same format to test alongside your existing one, but without W1 and use the weighted coefs you suggest in your post, giving the greatest weighting to the H4. I have no idea what, if any difference this will make, only in-depth testing will provide that answer. If I had the skills and time to program, which I do not, the changes I would personally make would be quite radical, as I would limit it to the 4 TF’s only that I use and would apply at most only half the indicators.

I’m just sharing a few of my thoughts with you, but in any event keep up the good work, as your testing would appear to show that you are definitely on to something. Thanks again for sharing and I wish you well and every success in the development of your interesting indicator.

Regards,

johnny

Wednesday 23:59 GMT, close order_sell: -86 pips

The volatility seems to be back. Let's see if the strategy (rules) have to be modified.

Today (Thursday) 00:00 GMT, BUY @ 239.48, target 240.38

The "look_time_shift" is for look at the trend at a date and time you want. It's only for test and it's enable when the variable "test" is true.

For look at the live trend, the "test" variable must be set to "false".

Hi yorkyjohnny,

Thanks for your long post! It has the merit to make me thinking in the good way.

I think so ... and yesterday i tested with coefs and the results didn't have significant change.

After the last 3 days and the return of the volatility, i will thinking about take some profit step by step. An other way is to take 20/30 pips (only!) every day. The % of winning trades will be increase.

I put many indicators, like this each people with each trading preference can choose which one he wants.


Thanks again for all your constructive comments.

FerruFx

Hi all,

Here's the new version of this 2 indicators.

Version v1.1:

1. In this version, you can give more force to which TFs you want for the Up&DOWN calculation. You can choose yourself your coefs.

2. Possibility to display the "Open Trade Analysis", "Daily Pivots" and "Daily Range" on the chart window (for the small screens!). The indicators window resize automaticaly (see attached).

3. Bug for "Max lot to trade" solved.

4. Removal W1 Timeframe

The instructions for attach the 2 indicators are the same post #1.

Important: because of 2in1 indicator, you must set the 2 with the same parameters (true, false, coefs ... etc)

Hope you like this new version!

FerruFx

Attached Images

small_screen.gif (20.8 KB, 3684 views)

Attached Files

	FerruFx_Multi_info+_v1.1.mq4 (71.6 KB, 2010 views)
	FerruFx_Multi_info+_2_v1.1.mq4 (76.9 KB, 2048 views)

Hi FerruFx ,

Great work and Great results , congratulations

can I ask you for something to do with the indicators to go with my tradings ?
hope you don't mind ...

can you hide the ( pips to stop , stoploss ... information ) + daily pivots+ daily range
and only keep the trend results ( up % -down % , weak-strong ) + ( macd , rsi , cci , .. etc ?

that way , you'll have a very powerful trend indicator that takes small room on the chart and give a clear signal so that it can work with any strategy

most stratgies need a powerful trend indicator , I think yours is the best I ever seen

I hope you don't mind and can do that , it will be great

thank you very much ,