1 (edited by hannahis 2015-06-15 13:22:07)

Topic: Longer Time Frame

I've always use either 1min or 5 min charts because I've the idea (which I'm now checking whether I made the right assumption), that if I use smaller time chart, then I can use more Longer Time Frame options.

Eg. If I use a 1min time chart for my strategies, then I can employ 5min, 15min, 30min, 1hr, 4hr, D1 etc in my opening and closing conditions (since these time frame are Longer, not shorter).

So if my assumption is correct, am I right to say then, if I use 4hr time chart, I can only use D1 as my Longer
Time frame and I can't use those time frame smaller than my 4hr time chart?

I have been wanting to use 4hrs time chart but I needed the EA to check all other time chart before executing
a trade but since I assumed that if I use 4hrs time chart, I only ended up with D1 as my only option for Longer time frame, that would limit the purpose of Longer Time Frame features. 

I do hope I can use all other "shorter" and Longer time frame so that I can use a 4hr time chart and add in 1min, 5min, 30min etc "shorter' time frame conditions in my strategies because as what Dave (BlaiserBoy) said, 4hr is a much profitable chart to use (but in my option, it is also "laggy" didn't respond fast enough cos by the time the price kicked into action, my EA is not fast enough to respond on a 4hr time chart).  Unless anyone has any advice to overcome that. 

That's why I ended up with 1min or 5min time chart but limited by data history because it only has about 1.5 months of data history for back testing.  I believe I'm missing the knowledge to overcome this problem, hence would appreciate for some tutorial on these above issues.

Thanks in advance for all the helpful FSB Pro helpers out there smile

Hannah

Re: Longer Time Frame

There was a post, a few years ago, I can not recall the name of the poster, he said he would not use less than 50,000 bars on a one hour chart. He would not go lower than one hour bars.

Myself, in my reading on the net, have seen opinions that using less than one hour is folly because the brokers can mess with the bars, whereas better data points with the higher time frames.

I like 60 minutes and up, just my preference.

When I am using MT5, I work with 8 hour bars because better data points.

Popov made a couple profiatble ea's with 15 minute charts... on the videos, and I bet those are still profitable.

I think the decision as to how much maintenance you want to do....... the faster the time frame, the more maintenance.

The faster charts will indicate a move well in advance of the slower charts, they also give more false signals.

Trading the faster charts means that you will pay more spread to the broker.

I have one ea that is on a daily chart, it uses a pair of donchian channels and no stop loss. It a lot of small losses and a few huge profits.

Everything is relative to what you feel you want in your trading plan....... what you feel to be right.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Longer Time Frame

you know, I am not so sure that you have to use LTF options, they may be causing you some grief.

Thinking about how the bars are represented in arithmetic, the calculations are numbers, not designated LTF, so it could be that you are using what you think to be a LTF approach when actually the numbers are geared to the time frame you are working on. Particularly if you are using the generator or the optimizer.

You have to be very thorough checking to be sure that the numbers relate as you want re LTF.

When Elder made the three time frame approach, he did it as a visual representation not a mechanical idea.

I suggest you check carefully as to the difference in profitability between the 5 minute and the 60 minute, the gain on the 5 minute may not be worth the aggravation of continual optimization.

I am a little bit sceptical of multi time frame for mechanical trading although I  can not supply facts.

Let's see if others have some comments.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

4 (edited by hannahis 2015-06-15 14:24:51)

Re: Longer Time Frame

So am I making the right assumption that if I use a 4hr time chart, I can't use smaller time frame such as 30min or 15min as a Longer Time Frame option?

Ideally, I wish I can use a 4hrs time chart but with the options to check on the 1min, 5min and lower time chart to make sure all the relevant indicators are moving in the right direction before my EA enters into a trade.  So if I can use a 4hr chart with "shorter" time frame, I would be very happy to start using 1hr or 4hrs time chart.

Although I use 1min or 5min time chart, my trade stay open for about 2 to 3 hrs and it has about 800 to 1300 pips per trade.  The challenge using 1min or 5 min time chart is to get the relevant indicators to reduce the false signals and the need for longer historical data for back testing which FSB only has about 1.5 months of back testing results generated.

Hannah

Re: Longer Time Frame

Longer timeframe is longer/higher timeframe. For H4 the longer TF is daily, 5 minutes is shorter for it. What you want to achieve is multi timeframe feature. Not really sure but I think in the current implementation it is a bit difficult to achieve in FSB. Much easier is to use FSB as it is now, meaning if your smallest TF is M5, you build your strats on the M5.

I think you have mixed up previous higher timeframe options (HTF and WTF indis) available in the old FSBs. Let me clear this for you - Pro doesn't build higher timeframe data on current TF, it uses the actual higher timeframe data. Want to use H4 on M5 chart? Make sure you have the relevant H4 data file in FSB. Trading span is still governed by the length of underlying TF though.

As an experienced and long-time user you should have the data issues solved by now. I remember I lacked short timeframe data as well in distant past, but I just made sure I would collect and save the data every month from my broker terminal.

Re: Longer Time Frame

We are measuring the movement of price, we are not measuring the indicators as they are derived from price. I do not think you have to check a one minute bar to measure price on a 4 hour bar. I think you will miss more by depending on the one minute bar and perhaps cause yourself to over trade.

Please keep in mind that the bars coming from your broker are not necessarily accurate, also keep in mind that the demo server is not spewing out what the real time server is sending.... the demo is set up to make you confident, the real time is set up to steal your funds. Hopefully you are using the real time data as Popov demonstrated in one of the videos.

As far as data, you can download a lot of good quality data from jforex or dukas..... and load FSB with that....

Depending on how few indicators you use, you can depend on the results derived from 50,000 bars. if you have several oscillators you will need a lot more bars and constant optimization.

That's why Popov likes a maximum of 4 slots and I have seen some of his strategies with only two slots. they are more accurate.

In the old version of Forex Strategy Tester there was a scalping strategy--- 2 indicators  for scalping one of the indexes.

I think I am making a case for very few indicators in a strategy. I like 2 for my own stuff.

As far as to what you want as an indicator configuration....... try whatever you feel might be suitable and make it work. For sure my opinions are just opinions.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Longer Time Frame

Thanks for clearing things up for me about the difference WTF, HTF, etc.

As for an "experience" user, I don't think I qualify myself for this...I'm just an "old" user cos I only use the usual basic functions of FSB and didn't explore all the features of FSB yet.

I did tried to save the data files and it didn't work...so I guess I really need to go and learn it over again and see what have I missed in my earlier attempt.

Hannah

Re: Longer Time Frame

There are a lot of cool tools in FSBPro, it is taking me time to learn to use them all.

I am still watching the videos and picking up little things from week to week.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

9 (edited by hannahis 2015-06-17 16:07:58)

Re: Longer Time Frame

Wow, downloading Historical data from MT4 is ever so easy now with the help of the video.

Many years ago, I tried to follow the instruction and got lost and it didn't work.  Now with the help of the video.  A picture is worth a thousand words, now a video is worth zillions!!!

It is easy peasy with the help of video explanation.  Thanks!

Now questions:

Footon said he would collect and save every month
Q1: Each time I say (eg. every month), do I replace the files?

Q2.  I need more or longer 1min data history, so how to keep "adding" my saved data to expand it?  Cos if I save in the same file, it would overwrite it.

Guys help me out, I'm also not called "Einstein", so please bear with me.

Hannah

Re: Longer Time Frame

It is ok to overwrite the files

You will have to open the folder once in a while to clean out older files that have been duplicated.

Good practise to open the folders once in a while anyways, you never know what garbage may be accumulating.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Longer Time Frame

Be sure to max out the setting "number of bars" or something  in MT, otherwise you just might update constant number of bars, like each time 20k bars, which means old bars are sent to oblivion and substituted with newer ones.

Re: Longer Time Frame

So by maximizing the bars in the MT4, it is like expanding the duration of period of data saved?

That means if every month I overwrite my files, does my data grow larger and larger over the time?

Eg if I started to collect 1min data since April 2015, does that mean whenever I overwrite the files and save it, the files will still have the data since April 2015 and if I kept doing this for the next 5 years, would I have the historical data history from April 2015 till April 2020?

I need longer 1min data history to make sure my strategies are profitable over a longer period of time and not just currently based on FSB's 1.5 months of data for 1min chart.

Hannah

Re: Longer Time Frame

The objective is to have a bigger dataset, if it doesn't grow larger after updating every month, then something is wrong.

14 (edited by hannahis 2015-06-17 20:11:27)

Re: Longer Time Frame

Yeah I thought so but the idea that I'm overwriting the files make me very "curious" how it works because

in an "ordinary" circumstances for my word document, I got the idea that overwrite a files may just save the latest data and newest data and not "merge" the old data together.

Thanks for the assurance to know that overwriting it wouldn't erase the old data but keep adding new data to it.

Hannah