Seven Summits Trader

[swordfish]

Here is a constant range bar chart for GBPUSD last night and today. Please compare it with your M5 or M15 chart.

http://i162.photobucket.com/albums/t269/julianblo/SSTConstantBar.jpg

There were 3 successful short. Two long signals did not get filled. I let Cable Run trade the Asian session. But there appeared to be an SST trade (LReversal buy) into the Asian session that reached the first TP as well.

Edited December 22, 2010 by swordfish

[⭐ musketeer]

v 1.8 edu

 

[spoiler= v 1.8 edu] http://www.mediafire.com/?7nk69vg15u5q7vu

 

Edited December 23, 2010 by musketeer

[⭐ musketeer]

Here is a constant range bar chart for GBPUSD last night and today. Please compare it with your M5 or M15 chart.

http://i162.photobucket.com/albums/t269/julianblo/SSTConstantBar.jpg

There were 3 successful short. Two long signals did not get filled. I let Cable Run trade the Asian session. But there appeared to be an SST trade (LReversal buy) into the Asian session that reached the first TP as well.

 

first long after asian is filled IMO, can you confirm?

[⭐ musketeer]

Here is a constant range bar chart for GBPUSD last night and today. Please compare it with your M5 or M15 chart.

http://i162.photobucket.com/albums/t269/julianblo/SSTConstantBar.jpg

There were 3 successful short. Two long signals did not get filled. I let Cable Run trade the Asian session. But there appeared to be an SST trade (LReversal buy) into the Asian session that reached the first TP as well.

 

two shorts for about 100 pips on 15 m

 

http://img534.imageshack.us/img534/1631/sst17gu15mdec22.gif

[Guest Jayman007]

You rock Musketeer! Thanks for posting latest edu and your results. I s a big help for us to better understand this trading system. I too think it has vast potential as a manually traded system. Thus far I have only been looking at it on E/U and A/U on H1. I will start looking at G/U 1H as well.

 

 

btw- Is that spoiler feature new? Never seen that before. Ahh must be.. see it now :)

[SpacyTrader]

To really see how good it is it would be nice if someone could make an ea out of it. Perhaps teknomage would be interested since he already said it can be done ? :)

[⭐ musketeer]

am sure he .... prepare xmas gift... :)

[swordfish]

first long after asian is filled IMO, can you confirm?

 

Musketeer,

Yes, first LEntry (Cyan Star) after Asian was filled and stopped out with a loss. However, if you had taken the LReversal (magenta cross) before the Asian, you would be in a trade and exited at the first TP and probably would not take the LEntry trade. My biggest question is how do your know which TP to take. An EA will tell which signal and which TP give you the max profit.

[⭐ musketeer]

Musketeer,

Yes, first LEntry (Cyan Star) after Asian was filled and stopped out with a loss. However, if you had taken the LReversal (magenta cross) before the Asian, you would be in a trade and exited at the first TP and probably would not take the LEntry trade. My biggest question is how do your know which TP to take. An EA will tell which signal and which TP give you the max profit.

 

perhaps based on my scalp's habits but i put SL @ BE +1 *always* when see 15-20 green pips

sometimes at 10 green...

and it is not too bad with conjunction with SST...

yes, the EA may tells more

my observations are based mainly in main signals w/o re-entries and reversals

and so far i get good trades

because of relatively good entries one may use martingale

there are not too many losses in a row...

[swordfish]

Here is another comparison of M15 and the 12-pip constant range bar from last night.

http://i162.photobucket.com/albums/t269/julianblo/M15andCRB12.jpg

[⭐ musketeer]

i really like it on 1H TF

[teknomage]

Believe it or not guys, I'm working on it right now :) Wasnt planning to until after Xmas, but like musketeer neatly put it, this is an xmas gift to you guys and this wonderful forum...

 

Am almost done with the first version... it's a VERY basic EA, so dont expect all the usual bells & whistles. Infact, i wrote it purely for the purpose of backtesting; so do not use this EA live, obviously.

 

Just adding the finishing touches now...

 

By the way, i've noticed a couple of discrepancies in the SST indis... for example, SST Entry does not always give a valid value even though a trade was to be opened... i've noticed this with the Short indi especially... have you guys noticed something similar?

[teknomage]

Hey Musketeer and Swordfish (and to anyone else here who has manually traded this system successfully)... here are a few questions I need to be clarified:

 

1. Do you immediately close an order when you see an entry for the opposite direction? Or do you simply allow both trades to exist until they close out naturally due to TP or SL?

 

2. Also, do you close an existing order when you see a new Entry for the SAME direction??

 

3. How do you guys make use of the Reversal crosses?

[chrisbenjy]

Hey Musketeer and Swordfish (and to anyone else here who has manually traded this system successfully)... here are a few questions I need to be clarified:

 

1. Do you immediately close an order when you see an entry for the opposite direction? Or do you simply allow both trades to exist until they close out naturally due to TP or SL?

 

2. Also, do you close an existing order when you see a new Entry for the SAME direction??

 

3. How do you guys make use of the Reversal crosses?

 

I don't trade this system, yet. But from my experience I always do the following:

 

1. Yes, if a new signal occurs in the opposite direction then it means that your system believes that price will change direction and stop out your original trade, so I would close the original.

 

2. No. Depending on your risk tolerance you could add to your position when another signal is confirmed or you could just ignore it and not add to the position, but keep it open.

 

3. Sorry I've not looked at the system yet, so I don't know what this is.

[⭐ musketeer]

Hey Musketeer and Swordfish (and to anyone else here who has manually traded this system successfully)... here are a few questions I need to be clarified:

 

1. Do you immediately close an order when you see an entry for the opposite direction? Or do you simply allow both trades to exist until they close out naturally due to TP or SL?

almost never happened to me, but sure I will close... do not know how is that per original rules. at other side, there is "active SL" - so we may BT with

 

2. Also, do you close an existing order when you see a new Entry for the SAME direction??

nope

 

3. How do you guys make use of the Reversal crosses?

like main entries

 

and like i've said - i am on BE+1 in first 15-20 pips

[teknomage]

OK, here it is (drumroll) SevenSummits EA v1.0a ! :)

 

hxxp://www.4shared.com/file/Z5rvLTQs/SevenSummitsEA_teknomage_v10a.html

 

Like I said before, I've made this a very basic EA, mainly for backtesting this system. It simply follows the Entry and Re-entry points as shown by the CalcLong and CalcShort indis on your charts. The T/P and S/L are determined according to those suggested by the system again, but you can choose the level of profit you want. Also, if you wish, u can allow the EA to adjust the S/L based on the ActiveStop points. I still have yet to work out the Reversal bit, but the EA does follow the Re-entry points effectively.

 

The whole idea behind this EA was to see if it would be profitable if you were to blindly follow the SST system and try to take every trade it suggests. My results were not good, even though it seems to comply with the system rules. Please backtest this robot VISUALLY... make sure you drag n drop the CalcLong and CalcShort indis onto your backtest chart (these indis have been shared here before). And let me know if it's following the rules properly. I welcome your suggestions, but keep in mind that this is not a full blown robot yet. It's just the first step...

 

Parameters

 

TakeProfitLevel = This is NOT the usual TP parameter in pips. Set this to a number from 1 to 3... the EA will then set its TP according to the TP levels shown on the chart, i.e., 1 means TP1, 2 = TP2, 3 = TP3.

 

FollowActiveStop = If this is false, the EA will set a fixed S/L... if true, it will follow the yellow ActiveStop as it moves

 

AllowSimultaneousTrades = By default, this is false, which means that only one trade is allowed at a time. If the EA sees a trade entry for the opposite direction, it will close the current trade and open an opposite trade as suggested. If true, then it will allow Buy and Sell trades to exist simultaneously...

 

 

I am not releasing the source code yet because I havent yet incorporated the Reversal bit. Once it's ready, I'll share the code with the next version (I might add a Trailing Stop as well). Besides that, my coding style is a little weird :)

 

Anyways, MERRY CHRISTMAS to y'all!!! and dont forget the kudos :)

Edited December 28, 2010 by teknomage
made corrections

[Guest Jayman007]

Gonna backtest on E/U and G/U H1 and will post the results. Thanks for your hard work.

[⭐ musketeer]

i will ... for sure

but I am just have overeat and overdrink right now... :)

[Guest Jayman007]

I have just started backtesting on E/U H1 and with the first trade it took I see a problem. It got a red star at 1.3875 but then opened the sell at 1.3896. The was set correctly and seemed to follow the stop moves (I enabled this option). Now in the jorunal I' seeing tons of "OrderModify error 1" but I can verify that stops are indeed being modified. I will do some more backtesting and return with more results.

 

EDIT 1: I also notice it is not closing open orders when it receives a new signal in the opposite direction. Not sure if that is planned or not. Also, I have lot settings at .1 and it's opening lots of size 23.

 

EDIT 2: It's setting the TP on shorts correctly but on longs it's using the 1st tp level even though I have told it to use the 2nd. Also, still getting lots of error 1 in journal.

Edited December 25, 2010 by Jayman007
added info

[teknomage]

Thanks for pointing that out, Jayman007. I should mention one thing about the indis... they are totally Lagging. If you notice, CalcLong and CalcShort do not display anything on the current bar, but as soon as the bar is completed, the star will appear on the previous bar. The indis themselves do not provide any valid or useable values in the current bar. So, the EA has to wait until the current bar is completed in order to get the correct values for the Entry, TPs, etc...

 

Slow down your visual backtest a bit and u'll see what I mean... in a way, this kinda limits the usefulness of these indis for an automatic system, but I'm still optimisitic :)

Edited December 25, 2010 by teknomage

[Guest Jayman007]

I do see what you mean re lagging indicators. Not quite sure why it's doing that. I will continue to BT and see what more I can gleam. BTW- I added a few more things to my initial post.

[Guest Jayman007]

So A long that was active got closed out cause the stop got moved to the channel line rather than the Lactivestop value which was much lower. Up till then it seemed the stops were being move more or less (within a few pips) of the Lactivestop value.

[Guest Jayman007]

I don't think the indicators are painting correctly at all. I am seeing both Red and Blue stars on the same candle which I NEVER saw before fwd testing this system.

 

Just FYI, I'm running the v1.8 indicators and have all the SS indicators on the chart just as I do when I fwd test.

[teknomage]

1. Have you switched AllowSimultaneousTrades to true? If it's false, then it should definitely close a trade when an opposite trade recommendation appears. A screenshot would be helpful. PM me, if you dont wanna post it here.

 

Doh!!! What a silly mistake I made w.r.t. Lots, lol... will correct the Lots issue pronto!

 

 

2. I dont see anything different in the code regarding the TP level for longs.. it follows similar logic as that for shorts. Can you please send me a screenshot along with relevant details of the trades?

 

 

 

EDIT 1: I also notice it is not closing open orders when it receives a new signal in the opposite direction. Not sure if that is planned or not. Also, I have lot settings at .1 and it's opening lots of size 23.

 

EDIT 2: It's setting the TP on shorts correctly but on longs it's using the 1st tp level even though I have told it to use the 2nd. Also, still getting lots of error 1 in journal.

[teknomage]

Yup, I've seen this happen a couple of times... goes to show that the system's indis need to be improved too...

 

 

I don't think the indicators are painting correctly at all. I am seeing both Red and Blue stars on the same candle which I NEVER saw before fwd testing this system.

 

Just FYI, I'm running the v1.8 indicators and have all the SS indicators on the chart just as I do when I fwd test.