User lines on chart as filter

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Let's discuss this idea.

Imagine you know the future (like Sai ;) and want to tell EA: "don't open BUYs under this level" or "open new BUYs only above this trend line".

How do you see it?

How it can be improved?

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Adding a filter with prices as input

The idea is to trade small range bound identities or whenever currency is moving in range bound zone.

Say for example, NGUSD, we will buy in grid/martingale as long as it is between 2 to 6. and sell between 6 to 10. And close the trades when reaches certain global profit. May be we need to be careful when the entity reaches the boundary and needs refinement/study further/SL.

Simply we can disable trades as desired based on the current price and enable martingale. But it does not help the backtest feature.

Hence calls for requirement of the filter with input as prices i.e. buy between a & b and sell between x & y.

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Andrey Khatimlianskyi
  • Under review

Let's discuss it!

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kamaleddin

The logic is to buy in the uptrend and sell in the downtrend. So we introduce a trend line to the robot and define what should happen at the top and bottom of this line.

 This feature prevents the robot from issuing a buy signal based on the price history and does not cause much loss when the uptrend line is broken, and there is less need for a martingale. I feel this will be the best feature of the robot because the human role will also be involved in its transactions.

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Sai Pratap

Thanks Andrey sir for the idea.

Open buys only trend line or sells only below trend line will reduce the risk drastically. And we dont need martingale for this. We can maintain SL of 100 pips or even less and get profit booking done at the next resistance line.  We can add trailing SL to take some profit booking and have a reentry on touching the trend line.

But we need to get a good trend line indicator. I have tried many but none could give me satisfaction when compared to my manual analysis. 

Also we need to be careful that we better link the trendlines to an indicator instead of manual input. Because it may result in damaging the funds. My accuracy may be 95% in trend input but if one is 50% accuarate, it will defeat the purpose. So if we are going ahead with manual input for trendlines, trader need to be cautious and needs some practice and confidence before taking it on live account.

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Rahman Jafarinejad

This is a useful idea that can reduce the risk of trading, especially when the trend is changing.

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Andrey Khatimlianskyi

Thanks for your replies, guys!

I think, we need following actions to be available in the EA:

  1. Allow new trades above/below the line
  2. Close all trades above/below the line
  3. Open new trade if price is near the line (waiting for retracement)
  4. Close all trade is price is near the line

Using combinations of these actions we will be able to automate any strategy:




We will be able to assign any action (or several actions) to each line.

Do you have something to add or fix?

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Sai Pratap

Looking perfect sir. 

Eagerly waiting to take it on. :)

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dante tunica

I don't think the CP 3040 set takes trendlines into account at the moment and it's very positive !!! However if you want to use dynamic trendlines I think what can be generated with fractals is very interesting. I enclose the indicator

fractals-adjustable-period-trend-lines.ex4

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Rahman Jafarinejad
Quote from Andrey Khatimlianskyi

Thanks for your replies, guys!

I think, we need following actions to be available in the EA:

  1. Allow new trades above/below the line
  2. Close all trades above/below the line
  3. Open new trade if price is near the line (waiting for retracement)
  4. Close all trade is price is near the line

Using combinations of these actions we will be able to automate any strategy:




We will be able to assign any action (or several actions) to each line.

Do you have something to add or fix?

This is great, but pullbacks didn't considered on the images.

The trend line may be broken, but after a few candles,it broken again in the opposite direction.

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Andrey Khatimlianskyi
Quote from dante tunica

I don't think the CP 3040 set takes trendlines into account at the moment and it's very positive !!! However if you want to use dynamic trendlines I think what can be generated with fractals is very interesting. I enclose the indicator

fractals-adjustable-period-trend-lines.ex4

1. Only mq4 and mq5 can be used.

2. Show your example of using please

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Andrey Khatimlianskyi
  • Planned (collecting votes)
Quote from Rahman Jafarinejad

This is great, but pullbacks didn't considered on the images.

The trend line may be broken, but after a few candles,it broken again in the opposite direction.

Of course, it can move in any direction.

This is just an additional tool for manual traders.