Steinitz HAS MTF **Theory & EA**

[steinitz]

Originally Posted by Libros

what??????
only buy???why?

The reason why you see trades all one direction is my settings that look for any counter trend taken from the monthly trend which in this case is "long".

If the settings were set at a lower MAX TF like 4 hrs you would have trades long and short.

Regards,

Don

[Libros]

i think you like criticism, so i'll critic your system don't take it as an offense.


how much maximum loss showing but not be taken?
and is it naked trade(no stop loss)?

Thanks.

[bossxero]

You are welcome here. Hope that everyone benefits from your methods, if you will really impart it rather than trying to sell us something.

Your method doesnt seem to get many trade opportunities according to your statement, 85 trades from 2006 to 2007. But results seem good. Let's see how this thread develops.

All the best

[et_phonehome_2]

Hello Steinitz

Nice to see you here after following you from FF and TSD.
Please post the rules as soon as possible and not keep all in suspense...

ET

[steinitz]

Originally Posted by Libros

i think you like criticism, so i'll critic your system don't take it as an offense.


how much maximum loss showing but not be taken?
and is it naked trade(no stop loss)?

Thanks.

No problem. I have had plenty of critics and praisers.

The EA has 3 de-bug switches that allow you to see tick for tick on the backtester log and forward trading log file all customized data to show maximum DD and maximum profits.

very good information to be had when deciding how much TP or SL to use. I can't answer your question since each pair and each timeframe are unique.

I personally don't use a SL. I find it gives me the best possible ROI (return on investment).

Thanks

Don

[steinitz]

Originally Posted by bossxero

You are welcome here. Hope that everyone benefits from your methods, if you will really impart it rather than trying to sell us something.

Your method doesn't seem to get many trade opportunities according to your statement, 85 trades from 2006 to 2007. But results seem good. Let's see how this thread develops.

All the best

Thanks for the warm welcome!

Great question. Results will vary from historical data to another. The pairs used will also vary. More importantly, I use the monthly TF as my starting point of the EA as a "top down" approach looking for the FIRST counter trend. When found it enters and TP at a predetermined pip amount or % of ATR. You chose.

Now based on my settings I might get into many longer held positions as the weekly is the first potential counter trend it can find. That setting is looking for 100 pips as opposed to lower TF found counter trends.

I also trade 12 pairs concurrently. This is to give me more trades and a somewhat hedge divers ed portfolio.

Don

[steinitz]

Originally Posted by et_phonehome_2

Hello Steinitz

Nice to see you here after following you from FF and TSD.
Please post the rules as soon as possible and not keep all in suspense...

ET

Hey ET!

Nice to see you. Small world. LOL

Ok. Just waking up so let me give it a stab. I will make this a bit abbreviated as it is much more complex in the coding of the EA.

1. We use the indicator Heiken Ashi Smoothed or "HAS". Settings 2/6/3/2
2. I also use the "multiple time frame" "HAS" bars to show me the various TF's at one glance.
3. I start with the longest time frame that I have interest in. In this case I will use the monthly TF.
4. We pick a shortest time frame to use to end the search in my example I will use 30 minutes.
5. The approach is to determine what the trend is on the MN TF. Let's say its blue or long. Now we drop down one TF at a time until we come to the first counter trend. We are looking for a red candle.
6. Once we have this red candle we call this the "alert TF". This is the TF we are attempting to trade.
7. We now drop down one more TF and wait for the first sign of a candle that turns blue. We drop down to this lower TF since we want to act quickly to the first sign of a reversal in the direction of the main trend (MN trend).

Let me stop here and see if anybody has questions before I get into the take profits.

Don

[et_phonehome_2]

Steinitz

I don't know if its too early to ask this, but can you elaborate on the MTF indicators of High/Low of A and B?

[bossxero]

Hey man,

Your system make sense, this way you are always sticking with the trend and the risk is considerably reduced. Keep it up, am eagerly following this thread. Hope this bring some order to the chaos ( yeah am a fan of Swat 4 )

[steinitz]

Originally Posted by et_phonehome_2

Steinitz

I don't know if its too early to ask this, but can you elaborate on the MTF indicators of High/Low of A and B?

No it's ok to talk about this. The MTF indicators are a visual representation of the the HAS indicator. It will track bar for bar and refresh automatically the HAS candles. They will be in exact sync.

I have the MTF indicators separated into upper and lower and "A" and "B". Lets discuss the lower.

The lower will display 4 TF's based off of the TF's you set the MT4 platform on. Example:

MT4 is set to 5 minutes

MTF bars will display from bottom to top
5M, 15M, 30M, 1Hr

This is a nice feature to see all 4 TF's at one time. The "A" & "B" is used to display the wick color of the HAS indicator. This gets more involved and I will touch on it in the near future. I want to take this slow.