Idea For Automation On Range Bar Charts Trading DAX
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Thread: Idea For Automation On Range Bar Charts Trading DAX

  1. #1
    Hello

    The following thread will be dedied into the automation of the idea mentioned below.All inputs and opinions are welcomed but let us all please communie in a civil way.

    The system entry and exit standards are as follows:

    Entry Criteria For Longs

    When a pub crosses from under the MA to above the MA,
    Then this bar should be considered as a Potential Signal Bar.

    Next,

    When the Potential Signal Bar closes and a new bar forms,
    Then the High of the prior bar ( currently The Confirmed Signal Bar ) should be kept say as x

    Next,

    If price increases from x by 2 pips or more
    Then a Buy Market Order should be implemented. // This Buy will not have any TP or SL for now

    Only 1 long trade open at any moment.

    This order will stay open until the Entry Criteria For Short are met along with the trading management is reversed by shutting the Buy and opening the Economy as per criteria under:


    Therefore,

    Entry Criteria For Shorts

    When a pub crosses from above the MA to under the MA,
    Then this pub should be Regarded as a Potential Signal Bar.

    Next,

    When the Potential Signal Bar shuts and creates a new pub,
    Then the Low of the prior pub ( currently The Confirmed Signal Bar ) should be kept state as x

    Next,

    If price declines from x by 2 pips or more
    Then a Sell Market Order should be implemented. // This Economy will not have any TP or SL for now

    Only 1 short trade open at any moment.

    This order will stay open until the Entry Criteria For Longs are met along with the trading management is reversed.



    Indictors as follows

    For the range bars, I utilize RangeBarChart v1.03a (attached). This goes into File - open data folder - MQL4 - Indiors

    The templates used are 1min Range Bar 40/50 Indices 1m Offline Range bars 40 Indices (attached). These enter File - open data folder - MQL - templates

    Start with a chart for GER30 (DAX) 1 minute chart and use template 1min Range Bar 40/50 Indices.

    Then open Offline chart (in FILE); It should be displayed as GER30 M40 (M50 also needs to be accessible for 5 pip pubs ); Employ template 1m Offline Range bars 40 Indices.

    This should produce a chart same as under. (I use FXCM therefore there could be differences with other sources).

    https://www.forexsoutheast.asia/atta...1746815605.tpl
    https://www.forexsoutheast.asia/atta...5346320430.tpl
    https://www.forexsoutheast.asia/atta...1056701795.ex4



    As a side note:

    Here's a script which simplifies the current order and Reverses it for easier manual testing and trading
    https://www.forexsoutheast.asia/atta...8142305894.mq4

  2. #2
    Hello, I've been busy 3 times, will ch up with thread and mistakes today! (and with all the ea)

    136 mistake in this event is because the market is fast

    for your market should I use bid lt; previous low - 2 pips?

  3. #3
    Quote Originally Posted by ;
    Hello, I've been occupied last 3 days, will ch up with ribbon and mistakes now! (and with all the ea) 136 error in this occasion is because the market is quickly for the sell's should use bid lt; previous low - 2 pips?
    Hello, I've been occupied last 3 days, will ch up with ribbon and mistakes now! (and with all the ea)

    Hello vhk.fxt, no problem and no hurry. Thank you for taking the time.




    136 error in this occasion is because the market is quickly for the sell's should use bid lt; previous low - two pips?

    I see, possibly a good idea.Lets see what Strada believes and he's a lot more experience with this system.







    EDIT: Do you current use: bid = previous low - two pips for sells?

  4. #4
    Strada,

    I'm sure that you understand this but just thought I might ask your opinion regarding the spread

    Beneath, maroon bars would be the highest spread of this pub as well as the green line is the normal spread of this pub

    This is FXCM


    This is ICMarkets


    IC Markets offer 1 pip fixed following LO and 2 pips prior to LO.

    I know you utilize many Distinct brokers but only needed to ask your opinion about it

  5. #5

  6. #6
    Quote Originally Posted by ;
    quote Good luck file picture file
    Thank you, we will not be using it in this method however.

    Will look at it some time to see what it does and the signal it gives:-)

  7. #7
    bit of manual trading utilizing the next to help speed up the change of direction: In stead of closure and reversing I just traded just like as follows

    Sell 2 lots then when the reversal arrived I abandoned the Sell 2 lots open and Bought 4 lots so on giving me the following

    Sell 2 ( net brief 2 )
    Buy 4 ( net long 2 )
    Sell 4 ( internet brief 2 )
    Buy 4 ( net long 2 )
    etc

    Then use the Multiple Close By function and close the remaining 2 after that

    Below gives me Break Even even with a mistake at white cross and overdue entries on some and we look to currently be out of the ranging period but I must run so the run below should have been positive and currently earning more

    JUST A BIT OF MANUAL TESTING TILL THE EA UP AND RUNNING AGAIN



    EDIT: Until we have the EA ready to go again I will test a few runs similar to this in the coming times and show outcomes

  8. #8
    Since quitting the next few runs have been really nice, sorry to have missed it

  9. #9
    Quote Originally Posted by ;
    Hi, I've been busy last 3 times, will ch up with thread and mistakes now! (as well as all the ea) 136 mistake inside this event is because the market is fast for the market should use bid lt; previous low - 2 pips?
    Hello VHK, I guessed the mistakes may have been due to the speed of price change in DAX/GER30 and that I really don't anticipate much can be done about that.

    Seeing the sells: first let me clarify the entrance rule - if a red (down) pub crosses the MA and closes below the MA then price falls a further 2 pips (minimal ) then trade entry is effected. In fact the chances of starting any commerce at precisely the triggered price is unlikely.

    The question about whether to utilize bid? For the use of the EA let us work with a chart based on the bid price. When an entry is triggered as above then the perfect entry price are the low of the red bar that only crossed the MA minus 2.1pips. As the chart is on bid price that this are the trade entry price.

    Logically if a green upward bar crosses the MA and closes above the MA then price continues upwards by 2 pips minimal then long commerce entry is effected. As chart is on BID then spread would be inserted to give the trade entry price. (High of pub closed over MA 2.1pips spread = ASK price).
    I'm not trying to instruct how to suck eggs here, but I'm not sure how this must be presented in EA terms (a topic of which I know zilch) however I hope this clarifies the situation pricing concerning the cause to get a trade and the entrance price .
    One point worth mentioning is that people all know beforehand what the entrance price will be before a bar actually closes across the MA. If it appears likely there's a crossover effort for state a short commerce we understand the high of this bar so we understand this large minus 6.1 are an entrance. (according to a range bar of 4 pips the buffer).
    I've attached a simple chart showing illuions.
    Clearly whatever you may need, please do not wait.
    Regards and many thanks for your generosity here,.

  10. #10
    Management not reversed and no Mistake showing in Journal or Expert tab



    Would have been a Fantastic open so far, May have a go manually as well for a bit

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