We look for all indicators aligned to take the trades but there is no real order to the alignment. We could say often this happens.
The debug the EA maybe we need the trigger will be LabTrend2 and labtrend1 a reenter indicator. Also LabTrend2 it's the best trailing stop.
Or just take the trades when Labtrend2 is in the right position and use Labtrend1 as trigger.
Another big problem are reversals. Usually when the move is big and the market enters in consolidation phase LabTrend1 will fire up close signals or reversals signals.
And sometimes it works like a swiss watch.
Fakeouts are due to low volatility. I usually look for rsi divergences or lower rsi peaks but this is a problem for any EA. Maybe one chance is to look at Labtrend 2/3 value and position as additional filter.
Example, is current value of Labtrend3 (it's more sensitive than 2) it's same as one bar ago do not trade because market isn't trending. But i don't know if this would work.
Thanks for the modifications Mrtools, much appreciated.
Linuxser ,at the beginning I thought this topic was about discussion of İgorad's indicators.Obviously I didnt read the topic properly
I havent worked out how you are exactly using the RSİ histogram as a filter , but I have different ideas than the RSI histogram.I think Snake border histogram looks promising.There can be some modifications on it , it is open to different ideas.MACD histogram also looks nice to filter the fake signals during the low volatility.I hope it helps.
Newcomers, you will need to copy all the indicators in the compressed file into your experts/indicators folder.
- Cleaned up and debugged some issues.
a) EA was opening orders on 3rd bar after confirmation, now it's 2nd bar.
b) RSI confirmation is more efficient
- Internal Stoploss
- Internal TakeProfit
(Pros: Not limited to broker limit and broker can't see your SL & TP)
(Cons: Make sure your computer doesn't crash, or your wallet will follow suit)
If you enter 0 for either TP or SL, they will be deactivated.
- Close order on "confirmed" Labtrend 1 direction change
(previous bar confirmation for order, previously it was on current bar to confirm. I feel this filters some "fakeouts" to close order)
- RSI Channel Adjustment
( If e.g. you enter '20', this means RSI(14) buy trigger on '20' or more or sell trigger on '-20' or less)
That's all for now. I will be working on Trailing Stop next. Please if any of you could help improve the strategy, let me know and I'll try to add it into the next version. Looking for a consistent strategy to program.
Please share your findings and setting with me with regards to my EA.