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The 200SMA filter that OzFx uses could also help, but I haven't used it yet. What is the success rate of using this filter to isolate the "false signals", OzFx?
Regards,
Azmel.
Hi Azmel,
Since the introduction of 200SMA we had 18/21 successful trade.
I think that speaks for itself.
You can just use the backtester to simulate the trade, and watch it visually. No need to wait days to figure out if your code is working as expected. That's how I troubleshoot, and it works well especially for slow traders.
I just want to recall the fxbs remarks about the Stoch crossing the 0 line of AC. The problem I see is that the 0 crossing point depends on the range, the zoom and the chart shift of your display since moving the chart to another bar moves the 0 crossing of the Stoch up or down!!! Try it you will see. It does not move much when AC is quite in the same range but when big bumps happens, the entry signal can be way off from one person to another.
I don't know if you were aware and understand the problem and I just want to bring this up to make sure there is no mistakes here.... If there are EAs working out there, then they must take into account the range of the AC for a certain amount of bars (how many?) and then adjust the Stoch relative position accordingly and then compare it to 0 of the AC. Otherwise it is not working pretty well.
Have a look at the charts. They are the exact same charts but one has more bars than the other on the display. See the Stoch crossing moved a little to the left on the second one and the relative position is different...
Maybe this is part of your setup but then we need to know how many bars you have on your screen !!
I just want to recall the fxbs remarks about the Stoch crossing the 0 line of AC. The problem I see is that the 0 crossing point depends on the range, the zoom and the chart shift of your display since moving the chart to another bar moves the 0 crossing of the Stoch up or down!!! Try it you will see. It does not move much when AC is quite in the same range but when big bumps happens, the entry signal can be way off from one person to another.
I don't know if you were aware and understand the problem and I just want to bring this up to make sure there is no mistakes here.... If there are EAs working out there, then they must take into account the range of the AC for a certain amount of bars (how many?) and then adjust the Stoch relative position accordingly and then compare it to 0 of the AC. Otherwise it is not working pretty well.
Have a look at the charts. They are the exact same charts but one has more bars than the other on the display. See the Stoch crossing moved a little to the left on the second one and the relative position is different...
Maybe this is part of your setup but then we need to know how many bars you have on your screen !!
Hi pegasus200,
You have a valid point. That is a challenge when you do visual backtest. However when you forward test it becomes much more clear. Also read through my AES post on my blog where we enter trades when Stot crossed below 0 line.
It is quite difficult to code an EA that knows when the Stochastic line crosses the AC zero line, unfortunately. Visually it is very easy to see, but ask a computer to see it, and it can't.
For a computer, the Stochastic value ranges from 0 to 100 as fxbs has pointed out. Therefore for the EA, I take the average value, which is 50 as the zero line. For optimisation, I also put the option to adjust the upper and lower values just to see what the effects of those will be on the trades.
Talking about the EA, it is almost ready. Last night, I tested it against a smaller timeframe to see what happens when a new signal appears. As expected, the fifth trade closes and a new set of five trades re-appears.
I will post the EA today for everyone to test. However, DO NOT GO LIVE with this EA yet as I have not incorporate the 200SMA filter.
It is quite difficult to code an EA that knows when the Stochastic line crosses the AC zero line, unfortunately. Visually it is very easy to see, but ask a computer to see it, and it can't.
For a computer, the Stochastic value ranges from 0 to 100 as fxbs has pointed out. Therefore for the EA, I take the average value, which is 50 as the zero line. For optimisation, I also put the option to adjust the upper and lower values just to see what the effects of those will be on the trades.
Talking about the EA, it is almost ready. Last night, I tested it against a smaller timeframe to see what happens when a new signal appears. As expected, the fifth trade closes and a new set of five trades re-appears.
I will post the EA today for everyone to test. However, DO NOT GO LIVE with this EA yet as I have not incorporate the 200SMA filter.
Hi
Just use 1 or 5 or some small number INSTEAD OF ZERO
Thanks for the clarification, OzFx. The reason why I asked is that I've downloaded the EA from Forex Factory and find that it doesn't do a short.
When digesting the code, I found out that the author has put something like if Stot<0, go short - thus the no-trade as the Stot value never goes below zero.
fxbs' explanation is much clearer if one's intention is to write the EA.
I am currently re-writing OzFx's EA from scratch with the money management feature as per his original methodology. I am forward-testing it now for bugs. Once it is certified as working, I will post it here.
Hi
Are you going to post MQ4files or just ex4 files?If the latter will it have expiry date?
Here is the EA for the OzFx daily system. It has been tested on the EURUSD D1 chart with success. It follows the initial OzFx's methodology, thus it lacks the 200SMA filter. That will be incorporated in future versions.
Here are the settings:
Magic. This is the unique ID for this EA to differenciate it from other EAs. If you using multiple EAs in one account, make sure that each magic number is unique.
Lots. This the amount of lots you want to trade if MoneyManagement is not used (see below). If MoneyManagement is used, the EA will calculate this value for you.
MoneyManagement. (Not to be confused with OzFx's definition of Money Management). This feature will let the EA calculate how much lots to trade based on how much you want to use your free margin (or account balance). If not used, the amount of lots to trade will be based on the Lots value above.
UseFreeMargin. If MoneyManagement is set to true, then the EA will use the percentage of free margin based on this setting. For example, if you put 100 here, the EA will use all of your available free margin. If you put 50 here, the EA will use half of your free margin available, and so on. Enter anywhere between 1 to 100 depending on how big or small risk/profit you want to take.
AccountType. Set this to the type of account you are currently using: 0 for large accounts where min lot is 1 and pip price per lot is $10. 1 is for mini accounts where min lot is 0.1 and pip price per lot is $10 (for example North Finance) 2 is for micro accounts where min lot is 0.01 and pip price per lot is $10 (for example Alpari UK) 3 is for Interbank FX nano accounts where min lot is 0.01 and pip price per lot is $1.
Leverage. Set this to the amount of leverage your broker has given you. If you have 1:100 leverage, enter 100 here. If you don't know, leave it as default.
UPDATE: THE LATEST & STABLE EA CAN BE FOUND ON POST#135, PAGE 14
Oh yes, I forgot to mention - when selecting your MT4 broker, best find a broker that uses GMT (or GMT+1 at worst) as its internal server clock.
The reason is that we want the new daily candle to preferably appear during this time. Selecting a broker with a different clock will cause the candle to appear late, thus missing a good signal.
Linear Mode
