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<div class=”d4p-bbt-quote-title”>KENERGY wrote:</div>
I will study how you use iCustom with Recurrence StatisticsFirst of all, I don’t believe that calling Recurrence Statistics (at least the versions I do know by now) will supply a signal that can directly be used for trading. Second, if you do so, please be aware that the versions up to V4.2 of Recurrence Statistics contain a serious bug. This has been fixed in V4.3. If you use it, please refer to this one or a later version. Probabilities for mid-bar transient zones have changed dramatically in V4.3. Regards, simplex
Hi Simplex,
recurrent statistics indicator was used only to find the exit point. it was not used for any entry.
Here is the summary report of the backtest done for last one month for EURUSD using the EA.
When the SL and TP were not set, then most of the trades were winners in a ranging market but in trending market, there will be huge drawdown, hence i set the SL and TP and tried it out
Hi Friends,
I have modified my EA a bit now that it reduced the number of failure trades and I can see a profit when i backtest for last one month for EURUSD
Additions:
As per Scissors idea, I am now checking for next 48 bars after a PTZ. and then enter the trade and close the trade based on SL set or TP set or when the current price meets the fractal line of K’s RS indi.
I have attached the latest EA here. Please have a look and give me your suggestions. I have been working on this the whole day today
Hi Scissors,
This looks like a sound strategy and thanks for sharing your great ideas here with us and to form a part of the team.
If i understand correctly your idea,
1. Set the H=96 in M15 timeframe. Wait for a PTZ to be created. (PTZ will be created when the left side 96 bars are complete and the focus bar is complete).
2. Now, wait for the next 48 right bars (right side to the focus or middle bar) to be completed. If there is no PTZ created again within these bars, then this is the right time to enter the trade.
3. Enter the opposite trade as price will move away from the PTZ making it Transient.
If my above understanding is correct, I have few questions here:
1. How do you know the TP is always 100 pips? Do we need to have an exit strategy (rule or condition) here for EA? my suggestion would be to check if the price crosses the RS indi’s opposite fractal line.
2. There are chances for PTZ to happen even after right 48 bars are created. So there we will fail.
3. If the left side of PTZ is not recurrent, there are high chances for the price to retrace back to the PTZ (but still the PTZ will become confirmed TZ as it won’t crosses it). we need to avoid these type of situations.
Overall, this looks like a good idea which I am planning to add in my EA. I will let you all know once it is done.
Hi Scissors, I am trying to understand what you told. are you saying that we will wait for a confirmed TZ and then enter the trade after user inputted H bars?
Thanks Kenergy for the wonderful information you have provided. your idea was good as if trade using RZ then there will be more trades than trades with TZ. As you told, we can work together so that it would help to come up with some good idea in future maybe.
Note- As of now, i was able to successfully retrieve only the values for Up and Dn fractal line values from Recurrent Statistic indi. I am still working on to bring in the values of upper PTZ and lower PTZ into EA. But i have some conditions in my EA which works same as them, so as of now, no issue.
Thanks a lot Kiads for taking time to go through the thread and giving some valuable ideas… I will definitely go through it and come back to you with more questions/information
