Forex Set & Forget Trade

[uniques]

Here's another stuff i found, anyone has it? pls share...thanks in advance :)

http://www.forexsetforget.com/?hop=dtcoach2

[cazador]

Re: [REQ] Forex Set & Forget Trade

 

http://sharebee.com/ec4b11f6

[fxuser1]

Re: [REQ] Forex Set & Forget Trade

 

http://sharebee.com/ec4b11f6

 

 

Hi, Link not working for me on any browser....by the way..have you been using this system...and if so, how is it?

 

Thanks

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

http://sharebee.com/ec4b11f6

Hi, Link not working for me on any browser...

s

 

Links work.

Here are some individual links:

 

http://depositfiles.com/en/files/8tmkh02mc
[url]http://rapidshare.com/files/364817568/set.pdf.html[/url]
[url]http://www.badongo.com/file/21317266[/url]
[url]http://www.megaupload.com/?d=5E09F244[/url]

[Arthemis]

Re: [REQ] Forex Set & Forget Trade

 

looks sexy, thanks and kudos for the file from cazador

[Rio]

Re: [REQ] Forex Set & Forget Trade

 

This system should be easy to turn into an EA

 

That's the only way to know if the system actually works or not!

I think I might just do it.

[Rio]

Re: [REQ] Forex Set & Forget Trade

 

Just for the record (so not everyone has to download the pdf) here are the rules

 

1. Look at the last daily candle. Calculate the hi/lo of that candle to see it's range in pips.

2. Calculate 25% of that range in pips. From now on, we will call this the 25% pip value.

3. Using that 25% pip value, set buy and sell stops above and below the close price

4. There are two trades. One Take profit is 25 pips, and the other is another 25% pip value in the trade direction for each

You can use one trade, or the other, or both. the 25 pip trade is mainly for beginners who want to see the trade close faster.

5. Stop loss is either 10 pips,.... or 10 pips away from the opposite order... or 15% pip value away from opposite order entry.

 

Should be a piece of cake to code. What would be more interesting is to run it on different time frames.

[fxuser1]

Re: [REQ] Forex Set & Forget Trade

 

hmmm...yes RIO you are correct....I wonder why this hasn't been turned into an EA since it trades on the daily time frame.

 

Are you a coder? The only issue I see with MT4 is the following below because I don't think MT4 can do it.

 

From the manual: "Use limit orders and stop loss orders in your trading

platform to automate your trade. Make sure to use ?one

cancel another? order settings (if one order is executed ?

the another one must be canceled automatically) If you

don?t know to do that ? please check your broker help

files."

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

if sy likes visual backtesting or want to ease manual trading of this system I made (heavily modified another :D) an indicator for this purpose.

You can change the timeframe shift to view EST ranges

You can either choose to show the TP for 25% or 25pips and the SL for 10pips or 15%. I excluded the 10 pip SL as I dont believe in such small initial SL.

 

If you like it Kudos are always welcome, and please if you backtest or use it write here success rate of this system (any kind of practical knowledge is valuable). It helps us a lot. Thanks.

 

http://[email protected]/file/246254010/ed83b3b/SNF03.html

 

http://i44.tinypic.com/wmght4.png

[fxuser1]

Re: [REQ] Forex Set & Forget Trade

 

Thanks KONORTI...it looks nice...and on the hourly produces some nice trades. Looks also like the trade can go on further for more profit...so maybe some kind of trailing stop would be ideal.

[Rio]

Re: [REQ] Forex Set & Forget Trade

 

hmmm...yes RIO you are correct....I wonder why this hasn't been turned into an EA since it trades on the daily time frame.

 

Are you a coder? The only issue I see with MT4 is the following below because I don't think MT4 can do it.

 

MQL4 can be made to do OCO trades. It's a bit of a pain to do (requires tracking the open trade tickets), but it's not impossible.

 

...and yes, I was thinking of doing some backtesting on Hourly candles to see if the strategy holds up.

I am more keen to use the 15% away from the other order as stop loss because it will auto adjust given market conditions.

Will also be nice to optimize the percentage pip value, to see if it can't be tinkered with.

 

Will produce the EA tomorrow.

[oktoeight]

Re: [REQ] Forex Set & Forget Trade

 

nice one, Konorti - KUDOS :)

 

would be great if some of our coders takes care of an EA which would give us a lot of insight in finding the optimal barrieres for the values on different currency pairs and also the best time to calculate the closing price....

 

ITS A GREAT STRATEGY IMHO :-bd

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

Ok, I made some modifications of the indicator to help Rio. I made the SL and TP percent and pip values external, so it can be set easily from an EA, and this way testing and optimising is easier. Note that the 'SL in percent' is 10% as it is counted from yesterday's close, so:

close-10% = close -25% + 15%.

Here is the download:

http://[email protected]/file/246254010/ed83b3b/SNF03.html

 

http://i44.tinypic.com/34s1mwz.png

[fxuser1]

Re: [REQ] Forex Set & Forget Trade

 

Wow NICE!!!!! The indicator is sweet! Althought it doesn't work on the Daily chart I don't think it matters because all the values are still the same.

 

My question is only: "at what point will the indicator plot the levels for the session?"

 

Thanks and Kudos going to you!

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

As soon as the shifted day starts. For example if broker time is GMT and it is 5 am in London. it means that in EST (GMT-5) timezone (NY time) it is midnight. That is the end of previous day range (it is the requirement of this trading system that a trading day starts and ends midnight in EST timezone), and the indicator can calculate the values (0AM in NY, 5AM London, 6AM in Frankfurt, 7AM in Bucuresti ....).

 

 

Wow NICE!!!!! The indicator is sweet! Althought it doesn't work on the Daily chart I don't think it matters because all the values are still the same.

 

My question is only: "at what point will the indicator plot the levels for the session?"

 

Thanks and Kudos going to you!

[ShaKerZ]

Re: [REQ] Forex Set & Forget Trade

 

Thank you konorti but with your indicator, on the daily TF, there is not curves... We can use in H1 or what TF ?

For example, for the last day (friday), what are the hi, lo and close on eurusd for example with your indicator ?

 

Can you post a screenshot please ?

[viper77]

Re: [REQ] Forex Set & Forget Trade

 

Congrats to Konorti for putting this great indicator together! =D>

I´m currently trying to set the TP_Percent value to true in order to have a dinamically adjusted TP (instead the fixed 25 pips no matter the daily range) for each day close price and it doesn´t seem to work well because it always put the price below (for buy order) and above (for sell order), however SLPercent value seems to work fine, any ideas? :-S

Thanks!

[ShaKerZ]

Re: [REQ] Forex Set & Forget Trade

 

http://img383.imageshack.us/img383/4136/screenu.png

 

My broker is GMT+1, so the line start at 6 hours but end on the 4 hours candle. Normaly, the line does stop on the 5 hours candle close, no ?

 

And as viper77 says, the tp and sl line are not correct according the % on the parameter.

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

So the questions:

 

1. Thank you konorti but with your indicator, on the daily TF, there is not curves... We can use in H1 or what TF ?

Timeframe is not intersting. Use lower to see price action to close out bad trades. Please read pdf for info. This is a breakout system, based on previous EST timezone range. We have two lines each day after 0am EST. Each of them is 25% range apart from previous trading EST timezone day's close value. Upper is the buy line, lower is the sell line. If price reachest one of them you take action, then you manage the trade

 

2. For example, for the last day (friday), what are the hi, lo and close on eurusd for example with your indicator ?

It will start to draw new lines (to trade Monday or Sunday evening) when first tick comes in after friday. Market hasn't opened yet, so no 'official' close for friday. Off course it could be programmed to make estimate value 2 hours before, but at the moment I just wanted to eyeball history with it, how profitable it is.

3. I´m currently trying to set the TP_Percent value to true in order to have a dinamically adjusted TP (instead the fixed 25 pips no matter the daily range) for every day close price and it doesn´t seem to work well because it always put the price below (for buy order) and above (for sell order), however SLPercent value works fine, any ideas?

You are correct, there was a mistake in the code. I crrected it, and will upload soon.

 

http://www.4shared.com/file/246254010/ed83b3b/SNF03.html

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

you miss some data between 10am to 22pm (gmt+1) from fridays data. Is your MT4 connected to server?

 

 

My broker is GMT+1, so the line start at 6 hours but end on the 4 hours candle. Normaly, the line does stop on the 5 hours candle close, no ?

 

And as viper77 says, the tp and sl line are not correct according the % on the parameter.

[ShaKerZ]

Re: [REQ] Forex Set & Forget Trade

 

Thank you for the update and for the answers.

So, if I will have the value automaticaly with this indicator (hi, lo, close), I put them on daily chart (but I've no line), so what I do ?

 

you miss some data between 10am to 22pm (gmt+1) from fridays data. Is your MT4 connected to server?

Yes, I'm connected. On my screenshot, the line are for thirsday, not friday.

[john225]

Re: [REQ] Forex Set & Forget Trade

 

Can anyone decompile it for me to mq4?

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

NO daily chart, use lower. It will automatically calculate from the right bars to see the EST timezone (that is the advantage, that you dont need the server time in EST timezone).

Lines are not drawn for the 5 hour (last hour of EST day) candle as it would be ugly (it uses buffer and would draw from one buy line to other- buy line, like camarilla does, cosmetic issue). Otherwise that missing part doesnt affect anything. When EST day starts it will draw the new lines.

Thank you for the update and for the answers.

So, if I will have the value automaticaly with this indicator (hi, lo, close), I put them on daily chart (but I've no line), so what I do ?

Yes, I'm connected. On my screenshot, the line are for thirsday, not friday.

[ShaKerZ]

Re: [REQ] Forex Set & Forget Trade

 

Ok, so i will use tf H1. So tomorrow at 6 hour (GMT +1), the new draw lines will appear, it's that ?

[konorti]

Re: [REQ] Forex Set & Forget Trade

 

The indicator will count Sunday as Monday and Saturday as Friday, So when data starts to come tonight it will already draw the monday lines.

 

Ok, so i will use tf H1. So tomorrow at 6 hour (GMT +1), the new draw lines will appear, it's that ?