Groovy,
Inside Phoenix 6 we have the option of adding more indicators and then turning them on/off. The only caveat is that all indicators that are "on" must agree in order to trade.
In order to switch trending/countertrending in Phoenix 6, just have it return a 1 instead of a -1. I dislike trending indicators in general because they seem to get in too late. I'd rather use trend indicators to say "oops, get out" rather than "we might want to get in now..."
I need to add exit indicators into Phoenix 6 the code. Have you looked at Phoenix 6 release version? If you want to add/change signals in P6, you need to go to line 718 and modify any function starting with Z_S[1-6] or Z_F[1-4]
Z_S# returns -1 or 1 and indicates buy or sell. Z_F# indicates a simple on/off for trading, like no trading on friday afternoon. (Z_F2 is a time filter and the settings by default use FXDD trading hours.)
For a commissioned EA I wrote some exit signals that I like a lot, I will add the code in a "generic way" (not the specific signal, just the method for closing trades) into P6.
Quote:
Originally Posted by Groovy
Daraknor,
Phoenix and its dynamics has been a subject of my analysis and testing over countless train commutes to work. What i found out earlier and keep seeing now is a clash of strategies which more often than desired result in unprofitable trades. Trend-trading and retracements trading indirectly collide in indicators 1 thru 4.
What i did is i took the envelopes and price divergence from Phoenix, combined them with the Laguerre indicator (quite a nifty piece to be said written by some Emerald King), put in trailing stops with 10pips (minimum required by my broker) and been backtesting with consistent long-term profitability results. I do trade EUR/USD primarily and i do prefer M30.
I'm a staunch supporter of retracement trading as well as trying to catch overbought/oversold levels. Primarily coz there's very little i can do to identify the trend without regular fundamental analysis.
Daraknor, i happen to agree that Phoenix now is lacking a directional strategy and putting more indicators may result in more clutter and confusion. So if you fancy a change, we can extract all the useful bits from Phoenix (esp. price divergence, envelopes would do) and focus on counter-trend trading. Lemmi know if interested. Or are you too consumed and busy in trying to put a stop gap solution and rescue the Bird from being engulfed in its own flames?
Best,
Groovy
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06-14-2007, 11:35 AM
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