wow, this EA params description looks PRO :-)
John, how about comments on results, equity curve and next steps planned?
When a 1-2-1 fails it is down to the volume being too high to stop there and it punches through. Would it be an idea to have volume as a filter, e.g. compare it with volume at a similar level?
Hi Friday ,Guys tnks for the efforts
I am trying ea .
Is the abcdslim able to show patterns on chart or does it work in background
Thanks John for your effort, I just downloaded today.
i look forward in giving your 121 EA a good review
Don't think we had mentioned it previously, but probably worth pointing out that additional setting in the ABCDslim.mq4 indicator for setting maximum percentage retracement of C to O for a 50 pattern. In case people wonder why it isn't picking up all the 50 patterns.
We made the default 0.8 (80%) so it only validates 50 patterns if C is 80% or lower retracement to O.
I've actually been using 1.618 to allow C past O so it finds more patterns. I've been finding this is ok as the fibfan exit seems to catch the failing ones.
Pipa: the indicator only displays patterns when it finds them and then removes them once they are invalidated. The show history does work if you want to load the indicator on it's own and see what patterns it would have found, but I don't recommend having it enabled for when running the EA.
Last edited by fridaystreet; 03-02-2012 at 03:41 AM.
@fridaystreet: any comments regarding results produced by this 121 EA?
Hopefully John doesn't mind me going in to a bit of detail.
The trades it has taken on my platform have been promising. When I get home I'll collate and post up some results. I must say it's very early days in regards to testing. John and I have both been running it for a couple of weeks while developing out some of the functionality with him. So I would suggest anyone using it should approach it from the perspective that's it's a work in progress and not beta test for example. It's still very much in the ideas phase, John asked me to build his strategy and make it as configurable as possible so he can see what works and what doesn't.
Just so happens we have managed to have some early success, I mean it hasn't just flopped in a hole hahaha it's actually running and managing trades pretty well. Of course it's losing some too, but the fibfan exit looks like it could prove as a good method to exit a failing pattern and reducing losses or the size of the loss, but again it's just early days.
I added the screenshot capability so we could capture a visual logbook of trades playing out. Thought it would be much easier to analyse what's working and what isn't.
I certainly think the entry could be tightened up, which is what I'm focusing on now all the trade management is fairly stable. Currently it doesn't look to the PRZ so we're looking at incorporating that to avoid entering to early. That said we added a trailing entry feature which also works quite nicely to keep moving the pending order tighter as the pattern expands.
As I'm sure you're well aware :-) the processing overheads of finding patterns does create some constraints to the everyday desktop trader. it's difficult to run it on every TF and every Cross and keep track, so the number of patterns I'm finding is currently limited. which means proving the EA just takes longer. Any feedback or screenshots people have time to provide would be awesome.
Thanks for your input as well by the way.
Hey traders, new to this forum im on WWI mainly. Just had a sneak preview of what you have going looks impressive. I trade harmonic and price action with excellent results. I came across the OU price action indicator and signal confirmation which has completed my template nicely. The indi works as a sling shot and will give you excellent trade signals based on price action. Including fibs on the template and of course resistance lines, trading has become very easy.
I also use Kor harmonic and have found it failing many times on TF 15 min. Zup 101 102 has been good also. But i will have to say the price action indi is the best one im using provided you know how to read the indi and the chart. Great on EU , AU , GU pairs. All the best
How should I use it I do not see anything on the screen?
Hi Kappa, what is this OU price action indicator? Can you share it here please?
Originally Posted by kappaforex