Pin Bar System

[amer328]

Optimization on EUR/USD over the past month shows it is pretty good (Pic Below). Trying to optimize cable though shows NO profitable settings for the last month. A quick visual backtest seems to confirm this.

Has anyone got any valid trades for cable that might suggest otherwise? If not i say probably best to simply drop it.

Hi Mata Nui,

Thanks for the good work that you have done in building the new EA. I can load and run the EA but I'm getting some order send 147 errors when running this on my FXCM MT4 platform. This is a 5 digit broker and I have run the strategy tester successfully many times before using various EA's.

Can you tell me which MT4 platform are you using so I can try to re-produce your results ?

 

[Mata Nui]

Hi Mata Nui,

Thanks for the good work that you have done in building the new EA. I can load and run the EA but I'm getting some order send 147 errors when running this on my FXCM MT4 platform. This is a 5 digit broker and I have run the strategy tester successfully many times before using various EA's.

Can you tell me which MT4 platform are you using so I can try to re-produce your results ?

I am using SLM. I know what error 147 is. Its a trade expiration error. Basically your broker has disabled automated orders setting an expiration time. The EA sets an expriation time to 2 bars worth of time. If the order is not triggered by that time the order is cancelled. I will add the expiration as a parameter. If you set it to 0 you should be OK. I wont be able to upload it till the morning though.

If you know any MQL you can disable it yourself. Search for et and just set it to 0, or just wait till tomorrow.

 

[amer328]

I am using SLM. I know what error 147 is. Its a trade expiration error. Basically your broker has disabled automated orders setting an expiration time. The EA sets an expriation time to 2 bars worth of time. If the order is not triggered by that time the order is cancelled. I will add the expiration as a parameter. If you set it to 0 you should be OK. I wont be able to upload it till the morning though.

If you know any MQL you can disable it yourself. Search for et and just set it to 0, or just wait till tomorrow.

Thanks for that, I have made the change and now no more 147 errors. However I suspect that I do not get the same results as you as the orders no longer expire.
I should really run this with a broker that allows order expiration.

You mentioned that you optimized the for eurusd, which parameters did you do this for and what were your settings ?

 

[MajorDutch]

I just ran a 5 year backtest on EURUSD. see results attached

 

[Mata Nui]

I just ran a 5 year backtest on EURUSD. see results attached

Not so good long term. Did you do any optimization?
Its interesting as the general strategy should be fairly consistent. In general i am not very fond of such long term backtests as they ignore things like.
You would optimize many times over that period.
Market conditions would dictate you pull the trading if the strategy becomes unprofitable.

Also over such a long period its difficult to assess if the EA is actually working 100% (in particular in calculating Pivots).

Although i think this EA has potential i still dont think it is ever going to be as profitable as trading it manually. When we trade manually we use a lot of discretion over the situation the pin is in. We might ignore great looking pins on Pivots if they are in chop (Like i ignored the cable trade today) or take ones that are not Great looking pins or that might not be perfect on the pivot because they might look like perfect reversals on a retracement etc.

At least the backtest didnt take you all week.

 

[megamuel]

Hi Mata,

Thanks for sharing the EA. It's so nice to have the back tests complete in minutes as opposed to days!!! I've been having a play around with it but can't seem to get any decent results. Is there any way to trade it with a 1:1 R:R without targeting the next pivot? This is what gave me the best results on the previous EA.

I was also wondering if broker times will affect the pivot points as some brokers are GMT, GMT+1, +2 etc or does it automatically detect that?

Cheers,

Sam.

 

[be-positive]

not trading but has the gbp/usd not just triggeed a long ???

 

[Mata Nui]

Hi Mata,

Thanks for sharing the EA. It's so nice to have the back tests complete in minutes as opposed to days!!! I've been having a play around with it but can't seem to get any decent results. Is there any way to trade it with a 1:1 R:R without targeting the next pivot? This is what gave me the best results on the previous EA.

I was also wondering if broker times will affect the pivot points as some brokers are GMT, GMT+1, +2 etc or does it automatically detect that?

Cheers,

Sam.

I will put an optional r:r target in this morning. I guess broket times will affect the pivots. I looked at the code for a couple of autopivot indicators and basically modified so it would fit in an EA. It uses the Day bar for the previous day so Broker times could mess it up. It calculates the pivots once when you start the EA then again every morning at 00:30 and writes the pivot values to the journal (Pivot 0 is S3 pivot 3 is P and 6 is R3) so you can to a back test for a day then compare what it calculated them as. There is always the option of resetting the pivots every morning and entering your own.

If you google you will find dozens of pinbar EAs and none of them seem to be profitable. I guess we really dont trade this strategy 100% mechanically after all.

 

[Howlinwolf]

not trading but has the gbp/usd not just triggeed a long ???

Looked at that one but not really a pinbar to me, but your data may have given a better signal?

 

[pocrel]

morning all, just drawing lines, no trade on Cable bp

 

[busfarehome]

Thanks for the EA Mata Nui, I have it running on my SLM demo account on 6 pairs, 2 indexes and oil.

I have "closepart" at 0.5 and would like to trail the rest from there on.
In order to do that I have "Breakeven" at 0 "start trail" at 0.5 and "trailing stop" at 0.5.

Is that correct?

I have "offset points" at 1 (so it opens 1 above and 1 below the pin), does this automatically allow for the spread?

 

[Mata Nui]

Thanks for the EA Mata Nui, I have it running on my SLM demo account on 6 pairs, 2 indexes and oil.

I have "closepart" at 0.5 and would like to trail the rest from there on.
In order to do that I have "Breakeven" at 0 "start trail" at 0.5 and "trailing stop" at 0.5.

Is that correct?

I have "offset points" at 1 (so it opens 1 above and 1 below the pin), does this automatically allow for the spread?

Thats correct for the trail. Offset points doesnt take spread into account. Could you do me a favour and check the pivot values every day. As i posted above it writes them to the journal so you should be able to check them.

 

[pocrel]

I will put an optional r:r target in this morning. I guess broket times will affect the pivots. I looked at the code for a couple of autopivot indicators and basically modified so it would fit in an EA. It uses the Day bar for the previous day so Broker times could mess it up. It calculates the pivots once when you start the EA then again every morning at 00:30 and writes the pivot values to the journal (Pivot 0 is S3 pivot 3 is P and 6 is R3) so you can to a back test for a day then compare what it calculated them as. There is always the option of resetting the pivots every morning and entering your own.

If you google you will find dozens of pinbar EAs and none of them seem to be profitable. I guess we really dont trade this strategy 100% mechanically after all.

i think there is now way to confirm exactly if the EA is profitable unless you can make sure the pivots are in the correct place, if the pivots are not right then you might aswell just pick random trades

i am only getting error messages so will try to sort it out later

what i would really like to see this running along side us for the next few months and we can tweak it to our setting Mata Nui

especially with commodities and index trades we need to calculate the pivot levels differently than forex ie the ftse opening time 8am to 430pm

 

[pocrel]

trade alert long order pending on silver

 

[pocrel]

trade alert long order pending on silver

chart

 

[busfarehome]

Thats correct for the trail. Offset points doesnt take spread into account. Could you do me a favour and check the pivot values every day. As i posted above it writes them to the journal so you should be able to check them.

Yes I will check the pivot levels each day, I use autopivotindicator-ver5 for my manual trades as does Pocrel but we have different values.
I assume this is because we have different brokers.

I think you are with SLM like me.

 

[pocrel]

few things on the radar at this close dax short eurgbp long audusd short

 

[bbmac]

pivots

Oh no not more pivots !!

The pivots indicator attached (ultimate pivots) has the ability to set the time they are calculated using gmt as the base (gmt shift) in the input tab of the properties...This may be useful to standardise the pivots being used by the followers of this system.

The indicator can also show fib, mid and cam pivots but these can be blanked out in the inputs tab to just leave the standard/floor pivots as used by livecharts.co.uk etc...

G/L

 

[pocrel]

trade alert currently long eurgbp and silver

 

[pocrel]

trade alert currently long eurgbp and silver

chart

eurgbp