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The attached stochs with alarm will filter out a lot of false signals also
Attach ZZ pointer to H1 chart
Set timeframe of Stochs to 1440 and only buy when stochs headed up and of course sell (take arrow) when stochs going down. Best signals when 80 and 20 lines broken
I wish , that we can have luxury of "ZigZag Validity" and
"ZigZag Trend" indicator someday coded for MT4 that are using percentage of market move to validate last leg taking chunk of guessing out of trading.
Tradestation and MetaStock users have those already coded for quite some time .
It would be nice addition to our trading ammunition.
Another "filter" could be simply trading with the general trend...
I've marked entries into a trending market using stochastic 50,3,3. There's only one entry with trend, and multiple against. The same happens with zigzag. See for yourselves on a visual backtest. Now I know that some people don't know how to spot a trend, so here's a simple way: if it moves up, wait for it to move down, and enter once zigzag turns up again without the price going below the last low. If you watch more than one pair, you will be able to spot many trends. Reverse applies to downmoves.
The Martingale idea is that when you have a loss on 1 unit the next trade is doubled to cover the loss with the first half and hope for a win on the second half. This is continued until you have a win.
Are you suggesting the first trade is 0.01 lots , then 0.02, then 0.03, etc?
Or is each trade for 0.01 lots?
Either way it does not help because of the series of losses not being covered by the final win unless there is a large return on the win.
I would prefer to use a filter.
Robert
You could use whatever lot progression algorithm you want, the key thing is to have a max number of trades set at a reasonable number, say 4 or 5 so your progression doesn't get out of hand. But since your coding the EA and I am likely never to see it, do whatever you wish, it was just a suggestion. My thought was that since there are a number of small losses before a large win with this system, you could use martigale-type MM to help recover those losses
Also, has anyone else run backtests over the same period as Igor? Because when I run Nix's EA for the month of June on GBPJPY 1hr with an 80 pip trailing stop I get 19 trades total, with 13 loosing trades 3 of which are consecutive. The modeling quality is crap so take it for what its worth but I am not entirely sure that you would actually get 49 false signals for one good one. It would be nice if someone could do a backtest with 90% modeling quality to see what their results are.
ZigZag and ZigZagPointer are the same as far as code logic is concerned. The difference is that ZigZag uses lines and ZigZagPointer places an arrow at the latest high or low of the ZigZag line.
Robert
Something doesn't add up. If the NLZZ and ZZP are using the same logic, then an arrow would be placed at every zig zag line - but this isn't the case. I need to walk through the code, but the logic is definitely different - starting with the fact that the parameters are different.
I ran Nix's EA for June and visually added your ZZP v2 (keeps past arrows) - and it doesn't place orders when they are both there (from visual inspection).
Thanks,
burn0050
__________________
He who laughs last thinks slowest
I am not able to make that assumption that 0.01 lots 49 times would recover or not. Forget any geometrical progression as that is a blow-up waiting to happen.
Used with a momentum filter such as you have suggested may enable "averaging in" without a stop...however one must still zig and zag no matter what their condition is...so in a sense there is an "indicator-stop" in place.
I would not trade this on anything other than 4Hr. TF's and not without an EA to manage it.
ES
Quote:
Originally Posted by MrPip
The Martingale idea is that when you have a loss on 1 unit the next trade is doubled to cover the loss with the first half and hope for a win on the second half. This is continued until you have a win.
Are you suggesting the first trade is 0.01 lots , then 0.02, then 0.03, etc?
Or is each trade for 0.01 lots?
Either way it does not help because of the series of losses not being covered by the final win unless there is a large return on the win.
I would prefer to use a filter.
Robert
Last edited by ElectricSavant; 09-13-2007 at 12:43 AM.
Just a short clarification for the nonlagdot indicator: droesparky, I think you have the wrong settings in the indicator. The lenght must be set to 20 please.
Gives a smother line and the right color
If anybody has noticed the market has been making some changes internally which are evident by ways of a somewhat trending market. This market favors my method (on the other thread) but hurts this method conversely. I have not voiced much on here since I prefer to sit back quietly and do some analysis.
I have always felt that it takes more than one method to trade this market. I am very optimistic about this approach hence I check this thread everyday reading all I can to see where we are with the development of a profitable EA.
I do believe that the original idea so far is the best one. I have some ideas filtering out the bad entries and exits which are not earth shattering. I believe the EA will work fine as long as the rules are well-defined. For now I applaud the energy and excitement behind this method.
.
Settings?
observation
Linear Mode
