pocrel
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Howlinwolf
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Set up on USd/JPY?
pocrel
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hi Howlinwolf, the pin has not cut the pivot level and the close is a bit negative, 3 points is alot for usdjpy
Howlinwolf
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My chart
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pocrel
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here is mine, your pivot levels are off the jpy pivot level is 80525 on livecharts
also the bar looks very bearish
chart
Howlinwolf
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Hi,
Thanks for pointing out my pivots are wrong. For some reason the autopivots seem to be more wrong on this pair than some of the other majors! Do you manually draw yours in using LiveCharts data?
pocrel
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my autopivot seems to work pretty well with my feed on currencies but i always cross refer with with livecharts before i take a setup to make sure the levels are correct
no harm in double checking levels before a trade
Howlinwolf
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One cause of Pivot data variation may be that there seems to be several ways of calculating them. LiveCharts seem to use High, Low, and Close in their calculator wheras this site uses those three inputs but also includes the opening price;
http://www.pivotpointcalculator.com/
http://www.pivotpointcalculator.com/
Last edited:
MajorDutch
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morning
Here is the first back test report I ran yesterday. 1:1 RR EURUSD for past year. This takes about 8 hours to run and only reported 21 trades so this really needs to be tested over the past 5 years.
Here is the first back test report I ran yesterday. 1:1 RR EURUSD for past year. This takes about 8 hours to run and only reported 21 trades so this really needs to be tested over the past 5 years.
Howlinwolf
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pocrel
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results are flat, but perhaps with a bit of tweeking we can improve them with the automation
well done sh5467 keep it running if you can
Livecharts calculates using 10pm london close but some autopivots use 12am. Given there is little movement between those hours, the pivots are usually inline.
In the case of usdjpy the 10-11pm on thursday was lower than the low of friday thats why the difference.
But who is to say which ones are right?
In the case of usdjpy the 10-11pm on thursday was lower than the low of friday thats why the difference.
But who is to say which ones are right?
pocrel
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For me trading the system live and in real time over the last 8 months the livecharts pivots are excellent reference and thats why i have directed everyone to use them (the exception can be the r3 level on it which i always double check)
you wont go to far wrong if you stick to the livechart pivots
cool. they're mainly similar anyway.
Not sure if you tried this system on equities as there will be no debate or confusion about where the pivots points are.
Once I get to grips with coding, will definitely run a back test on some stocks.
I only tested a month and it took a while. I took a bit of time to run the backtest visually and found the pin bar indicator (on the original post) was missing loads of really good pins. Also with this strategy the exit is really important and the EA doesnt model that very well. Its worth more work but overall i think:
a: In this case the automated results bear no relation at all to the profitability of the actual system (in most indicator based systems coding it can give insight into its potential profitability).
b: Although we may collectively be able to tweak the EA to give a positive outcome its potential for profitability is nowhere near the potential of manually trading.
Not sure if I agree. At the end of the day this system (and probably most others based on technicals) are very much mechanical so the computer will eliminate emotions and wont miss a signal.
I dont see any advantages manual trading holds (provided the entry/exits are 100% mechanical). Sure here and there human factor may prove beneficial but overall playing with the rules (which is what emotion does) is to our disadvantage.
pocrel
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i could not say it better myself Mata Nui point a and b
this system is tested manually and i think you will find it very hard to get an automated one to replicate the results
all we can do is perhaps semi automate and make life a little easier for us
i think it has an edge for entry but the important thing is trade management is ey to profitability
Provided entries/exits are 100% mechanical i would agree automated trading as an alternative is a no brainer. In this case though we are nowhere near being 100% mechanical. The crux is the pin. The indicator with the EA missed both the WTI and BRENT trades on Friday which were 'classic' pins. Pocreal took a trade either last week or week before (its in the thread) which was nothing like a pin (cant remember how that worked out for him).
To make this mechanical we would need to:
1. decide on the perfect 'pin bar' shape.
2. give that perfect pin a numeric value.
3. decide on a set of criteria we could use to compare any candidate pin to our pefect pin, giving weighted values to each of those criteria so we could give a numerical value to 'how good' our candidate pin is.
4. Do similar to the preceeding bars so we can judge how bullish or bearish sentiment is at the time.
I doubt we would ever get past part even deciding the criteria for part 3 let alone the weightings.
We can improve the EA though. I think we need to look at its pin bar detection to start with. Then its adding some basic trade management like proper targets, being able to move the stop, being able to part close etc. If we do this we should be able to make it profitable but i dont think we will get near the profitability of being able to use discretion.
Sorry, i am a programmer by trade so i tend to over analyse stuff like this,
