I shall add a trailing stop feature to the next version. PipHunter trades all signals but it waits for the next candle to reenter. Was the signal still valid at the next candle?

Welcome back Xux;

I didn’t have a chance to closely monitor the events to detect any valid reentry conditions, however in the longer past few times I noticed presence of such conditions.
 
Now, speaking about equipping PipHuner with Trailing Stop feature, I want to point out that the standard way TS handled by MT4 isn’t efficient method of securing floating gains. The problem is that once TS stage has been archived the system is moving the SL level tight to the current price what often causes termination of the open trade due to minor fluctuation of the price. Therefore, the solution would be if the SL level is constantly updated (shifted) while leaving adequate breathing room in situation when the fluctuating price continues to climb.
Unfortunately, I’m not technically skilled to figure out the best way to challenge it.
Hope the proposed by Xux99 solution will fix the above problem;

I shall add a breakeven feature. The stop loss already moves following the LL3/HH3 level. I thik the order should be closed not by stop loss but preferably by a possible top/bottom. iMAX cross or ZZ could be used.

Quote

Priority No 1:
As soon as an open trade achieves adequate level of floating profit, the robot should modify S/L values to brake-even level.

Priority No 2:
Assuming, that the trade positively distanced itself from the break-even S/L point, the robot keeps moving the S/L to match/follow the gaining altitude.

For the reason that the optimal S/L against current price stage stretch is uneven during different trading-times/market-conditions as well as it varies for individual currency pair, conceivably the device controlling this duty could be aided by indicators such as Bluto’s Chop_Whacker, Chopemeter or FerruFx's ProbabilityMeter etc or by other potential solutions.

Hello partners;

The last two weeks were not lucky for PipHunter Robot.
I’ve been running the EA on two; FXDD and FXCM-UK demos.
The two brokers have 2 hours server time differences so the entries are not matching due to the differences in daily candles values, an essential detail for PipHunter to determine entry levels.

I noticed that in average 70+% with both demos the entries went into floating profit but never reached the 1st or the 2nd Take-Profit levels before going into DD.
That shows the weakness side of the way the original PM strategy is handling open trades.
Perhaps the Break-Even feature that Panagiotis is going to add will stop the losing behavior of the system. However, there must be found another solution how to capture pips of the in-floating-profitable trade after it reverses the direction to the wrong way.
Attached are statements of the two FXDD and FXCM-UK demos.

With best wishes,
Alex

I'm running Pip-Hunter on two FXDD and FXCM-UK accounts, with 7 pairs, 0.2 lot size
The FXCM-UK account was started with $10K portfolio and increased to $18K with manual trading Pip-Hunter’s way. Thus the final output does not reflecting performance of Pip-Hunter EA but the robot traded more actively here than with the FXDD counterpart.

The two brokers are using 2 hours different server times. The above situation doesn’t affect systems trading systems based lower, up to H1 TF because the candles are starting and ending exactly at the same physical time despite the server’s time differences.
Yet it matters in the case of H4 and higher (D1 in case of Pip-Hunter) time frame because the starting/ending time is overlapping and each hour of difference could deliver a big gap of the upper/lower value readings of the D1 candle for each broker. As a result, Pip-Hunter is spotting entry set-ups shifted hours or even days.

For example, I started FXDD and FXCM-UK platforms on Sunday, June 7th, 2009; 21:00 GMT running on the same settings or seven pairs.
Due to the two hours differences of the starting/ending time of the daily candles, Pip-Hunter spotted entry set-ups and engaged trades on the first trading day on the FXCM-UK platform, while on the FXDD platform trades were executed the next day. As well, the executed trades on the two platforms were not matching the same currency pairs and of course delivered different results. The FXCM-UK secured almost $2’000 of profit while FXDD executed just one TP1 (50% of the 0.2 size trade) securing $177 only. As we see, the differences in candle readings happened to be favorable for FXCM this time. However, I don’t think that this is any solid clue that FXCM is any better than FXDD, simply because the better output occur due to favorable market trend for the 2 hour postponed D1 TF.

During previous and the last trading week in particular, I noticed that at least for 3 days in a row, both accounts were gaining significant floating profit ranging from $300 up to $1’200 before going into various $-300, $-600, $-1’500 and above $-2’300 DDs.
It is common with this strategy the situation when the trade is approaching the TP1 (1st take profit) level and reverses back to the starting (or even below) level and few hours (or the next day) it again goes the proper way. Due to the above happenings, the original trading strategy is using large 100 – 175 pips S/L levels to stay in trade hoping that for positive reversal.
I believe that we could lower the risk by preventing the trades from going into such a deep DD while collecting smaller gains during such situations. In most cases, the negatively pair recovers and continue following the direction previously forecasted by the strategy. As soon as that occurs and the previously determined entry set-up conditions are still valid, the robot can reopen the trade and maintain it accordingly. We would not only lower our lose risks but harvesting bonus pips when enhancing Pip-Hunter with such capability.

Here is my modification vision:

Priority No 1:
As soon as an open trade achieves adequate level of floating profit, the robot should modify S/L values to brake-even level.

Priority No 2:
Assuming, that the trade positively distanced itself from the break-even S/L point, the robot keeps moving the S/L to match/follow the gaining altitude.

Since the pair prices are fluctuating with variable ranges due to different market volume activity at particular times, determining the optimal space between S/L level and the current price would be very important. Properly managing the above task will prevent from going into deep DD as well as from premature (unnecessary) termination of the trade that happen to be on a winning path.

For the reason that the optimal S/L against current price stage stretch is uneven during different trading-times/market-conditions as well as it varies for individual currency pair, conceivably the device controlling this duty could be aided by indicators such as Bluto’s Chop_Whacker, Chopemeter or FerruFx's ProbabilityMeter etc or by other potential solutions. After such a controller is synchronized with supportive indicators, the time/pair sensitive variables will be optimized with series of back and forward testing.

I understand that the above request is not an easy task because it brings another level of complexity to the code, however I believe it is as important as the main strategy that the robot is based on.
I hope this is achievable and worth to try.

Here is another one; Noddy manual trading strategy

http://fxaw.activeboard.com/forum.spark?forumID=117707&p=3&topicID=28558638
Hepsibah wrote:

"OK, here goes.  I am not pretending there is anything ground-breaking in this strategy, it is just one that I have been using recently that has made money - and that is rather rare for me.  If someone feels motivated to code it, that would be great as it could easily be backtested and then we could see if it has just been luck that has made it successful recently.

Noddy
Noddy was the name of a children's book in the UK when I was young (it's apparently considered to be non-politically correct these days but didn't seem to do us any harm!).  Anyway, this strategy is so simple that I have named it after the children's book.

Rationale
The strategy is based around the fact that price will tend to move towards the Pivot value except in times of high volatility/strong trending markets.

Timing
You can choose any time that is convenient to you to trade this strategy.  The trade, SL and TP are all entered at the same time and there is no need to watch the screen afterwards.  I tend to use it most days before the London open (around 6 or 7am London time) and sometimes in the afternoon before the US open.

Setup
Use Camarilla historical pivot lines with only the Pivot, H4 and L4 lines visible (indicator and template at the bottom of the post).  I use it on EURUSD, GBPUSD and USDJPY.   I do not think that it is suited to more volatile crosses like GBPJPY.

When you are ready to make a trade, set the GMT shift value to correspond to the closest hour to the current time so that new pivot lines will be drawn.  For example, if I am up around 6am London time, I will set the GMT value to 7 (I use Alpari UK which is GMT + 1).

Trade Conditions
Check the value of the current period's Pivot line (P) with the value of the previous period's H4 and L4 lines.  If prev H4 > P > prev. L4 then you have a potential trade setup.  If P > prev H4 or if P < prev L4 there is no trade (this usually signifies high volatility/strong trending situations).

If you have a valid trade setup, check the current price in relation to P.  If current price is less than P, enter long, set TP to the value of P and SL to the value of the current period's L4.  If current price is greater than P, enter short, set TP to the value of P and SL to the current period's H4.

I usually also use two further checks.  Firstly, I make sure that the current price is at least 15 pips away from P and secondly, I check that the SL is not more than 60 pips away.  I have to admit that I do not have any scientific reasons for these numbers and it is something that could usefully be checked with backtesting.

Files
Indicator and template attached below.
Noddy.mq4 (8.1 kb)
noddy.tpl (2.7 kb)
..................... "

Hello friends & Forex brothers;

Firs of all I would like to thank very much to Panagiotis (xux99) for delivering the following v.0.1 of Pip-Hunter robot. This is the very fist release incorporating all three main tactics of the strategy. (Still there is aggressive sub-D1-1 strategy to be added down the road.)

So far I noticed the following:
Since Pip-Hunter is using D1 Time Frame for analyzing the market movements, the result on spotting out a set-up is vary to brokers using different server times.
For example, FXDD has server time is same as Ignacio’s used FX Solutions but FXDD-UK and Alpari-UK are behind one and two hours. Therefore, the readings of D1 candles differ a lot among the three brokers and as a result, the set-ups determined by Pip-Hunter are different for hours ore even jumps to the following day if not disappears for a while.
Since we don’t know which starting/ending D1 Time-Frame is the most optimal for Pip-Hunter’s strategy, the only choice is to try all of the spectrum used by the most respected brokers and compare the final results.
In my first tasting days with two brokers: FXCM-UK and FXDD I noticed that the robot is placing the same trade twice in the case of FXDD-EUR/USD; (screenshot attached).
In the case of FXCM-UK the robot positioned D1-1 and D1-2 trades while the other one was still running.
I don’t know if such situation is permissible in theory and allowed in practice but this is something to be concern of.
I believe a coder and the only native Anglophone member among our team; Tim would be the best specialist to verify this condition against the available written strategy manual. (Well, Steve “forex5x” who is one of my best FX fiends is Anglophone too but he is sort of passive member so far).
Once again, many thanks for Panagiotis for his extraordinary job and for Tim for his further support in improving/tuning-up this robot.

With best Regards,
Alex

Quote:
AlexPali says:
It looks like all 7 USD involved pairs are heading for PM2 set-ups. But it might change over the night.

Ignacio says:
Remember you don't trade any PM1 or PM2 until PM3 has run its course.

"If a PM 1 or 2 setup occurs, but a Pip Rev trade is already in progress, then stand aside until the Pip Rev Trade has run its course."

Note: D1-3 condition is very rare however once it occurs it delivers a good chance of very large price movement in the desired direction.