This is how I would develop my EA with these new added profit/position protection features.
1. I set my Closing Conditions first. I will employ appropriate SL and TP protection features
2. Then I begin adding in my Opening Conditions and adjusting my Opening Conditions parameters/indicators till I reached the highest possible profit factors/statistical results.
As I've mentioned these Opening Conditions would likely be targeted with opening conditions when there is a breakout, with the right parameter/indicators whereby I can obtain 70% to 100% Entry accuracy in the direction (long or short).
Questions to Popov...
I am curious to know how the optimizer would greatly boost our EA results. If we know how to set "right/strict" Opening Conditions...I wonder would the optimizer be able/equip/incorporated with the necessary features to help us find the best SL and TP protection settings as our optimal Closing Conditions. If this can be done, it would be so easy for me to greatly improve my current EA, as I have more or less, able to develop EA with high entry accuracy...I've been trying these past few months to improve in my closing conditions/accuracy.
Secondly, I wonder whether Popov can develop a new method of generator/optimizer whereby we can search using generator and improve using optimizer for good Opening Conditions based on the profit range.
What do I mean...
Imagine when we look at the MT4 chart and we look at the period during a breakout. We wish we know what are the parameters to use to pin point that breakout (let's call this point, the Starting Point, SP) and we also see how the trend ended (let's call this point, the Ending Point EP)
We need a Starting point and an Ending point in the chart to begin calculation. When our Ending point is higher than our starting point in the MT4 chart (assuming it is a long position), we know the EA is making profit. Now the distant between these 2 points is the profit and I call it Profit Range, PR.
And when we want to develop an EA, we need to input the Opening conditions, i.e. determine the Start Point and input the Closing Conditions, i.e. determine the Ending Point so that FSB can calculate the Profit Range and many other factors to give us the EA statistical results.
We are always trying to figure out what indicators/parameters constituted both the Starting Point and Ending Point. With this new profit/position protection added features...our task is made easier by half. Now we need to figure out the Starting Point and let the FSB help us determine the Ending point by Closing with the highest Profit or least loss based on market strength and volatility.
I want to propose a new perspective of developing profitable EA....and I'm not sure how feasible it is. Here is my proposal.
Can we use the Profit Range to generate/optimize for the best Opening Conditions?
Since we need a Starting and Ending Point and the distance between them is the Profit range...can I therefore use the Generator to search for a Starting point that has the Longest End, i.e. Longest Profit Range? Or the Optimizer to refine my Starting point/Opening Conditions to produce the Longest Range? Using this method, I only need to generate or find the parameters for good opening conditions without having to determine my closing conditions but let the profit/position protection features find/determine my Closing and from there find a good Opening base on the longest Profit Range.
If we can use Profit Range as a means to find good opening conditions...then we can develop many types of EA based on Profit Range. We can set profit range between 50 to 250 pips to find intraday EA's Opening conditions/parameter and set profit range between 1000 to 2500 or above to search for breakouts etc. Now with this Profit Range method of searching for good Opening conditions/High Entry Accuracy, we can definitely have a better chance of developing profitable EA. Now the ball is in Popov's court...I wonder how feasible this proposal going to be.
This is something similar to what I proposed before under the discussion thread "Using MyFxBook to analyse Strategy Entry and Exit accuracy" http://forexsb.com/forum/topic/5356/usi … -accuracy/
Below is the extract of our discussion
Profit missed and Time in profit in bars is easy.
Hence, if you can separate the calculation into 2 parts, Opening conditions Accuracy and Closing Conditions Accuracy. That would be awesome.
This was something I had in mind from the first day of FSB.
To test the entry, set the exit on Bar Closing and "Random Filter" as a Closing logic condition. After that press F5 to recalculate the strategy. It will give different performance on every hit.
Other option is to use "N bars exit". You need to preset it for 5 or 10 bars and to work on your entry rules. Or just change the number of bars by scrolling with the mouse wheel.
You can do the same with the exit rules. Set Bar Opening and Random Filter for entry and you'll see how good is your exit on a random entry.
From a FSB Pro point of view, everything is of "hindsight" hence, we already have all the historical data to do the kind of 100% accuracy that you mentioned Popov.
If we figure out a proper formula or method, I'm able to implement it in the program. Probably you can ask in the MyFxBook forum for clarification on the topic. I can add all info you find useful in MyFxBook in FSB Pro in next releases.