Topic: Generator - can it use 'Longer Timeframe Indicators'?

Hi there

From what I can see, the Generator only uses the selected chart timeframe but can't test 'Longer Timeframe Indicators'. E.g. a 5 minute strategy incorporating 1 hour and Daily timeframe indicator slots too.

I really enjoyed the posts by hannahis on using multiple timeframes.
http://forexsb.com/forum/post/30121/#p30121

Thanks for the help.

Re: Generator - can it use 'Longer Timeframe Indicators'?

If we speak strictly the Generator doesn't "test" the strategies. It "generates" strategies one by one and sends them to the backtesting module for testing. So, you probably mean that the generator doesn't set LTF params to the  generated indicators. It is completely true and intentional.

There are so many variants for strategies that is meaningless to make even more. You can see more info here: http://forexsb.com/forum/post/30308/#p30308

Re: Generator - can it use 'Longer Timeframe Indicators'?

Thank you Popov, and for framing my question correctly.

I now understand about the increased complexity and time constraint.

Strategies with multiple timeframes interest me so I wanted to check about the possibility to try to generate strategies with multiple timeframes.

Thanks again.

4 (edited by hannahis 2015-07-04 16:26:57)

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Vidagig,

Thanks for your interest in my multi time frame posts.

I think the multi time frame concept using FSB Pro is very viable, one just need to be rather creative to maximise the potential of FSB using the Longer Time Frame.

When we trade, we always compare different time frames to determine when the next breakout going to be.  Usually people use H4 chart, but when I observe breakouts in the 1 min time chart, l realized that within the 1 or 3 mins, there are many hundreds potential pips gained if entered early.  If I were to use the H4 or H1 chart, I would have missed out these huge potential pips gained.  I find that if I use the 1min or 5 min charts but with H4 indicators (LTF), I have the best of both world. 

The benefits of using LTF with 1min chart is that if you used the indicators right, your EA would have high entry accuracy.  My EA will immediately kick into action at the very moment of the breakouts, that's what I observed in my EAs, hence, most of them can reach an average of 800 to 1000 pips.  Best of luck in your quest to develop profitable EA using multi time frames smile




Thanks for your feedback, at least I know my post opened up the discussion and the potential benefits of using LTF.

Hannah

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Hannahis

Thanks for your encouraging reply to an FSB beginner on this infinite learning curve; and for your helpful contributions here. Not to mention the others who so generously share their knowledge and expertise here.

I read all your posts, especially your multiple timeframe theory and construction methodology carefully. I seem to never find indicators that interact favorably when additional timeframes are added, maybe I'm doing something wrong.
Perhaps you'd consider posting a simple example/tutorial here, without giving away your hard-earned I.P.

I found an EA of yours you referred to on here on MQL5 a few days ago - but it seems disabled since then. It looked promising, with a very high quantity and frequency of trades; and I'd planned to subscribe to it to watch it in action - never done that yet. I think it was this
https://www.mql5.com/en/signals/117778

Anyway, thanks again for your encouragement; and all the best with your great work.

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Vidagig,

Thanks for your feedback, glad you find my post helpful.  Cos I was afraid that in trying to get people to "wake up, sit up and think differently, out of the box", that I may be repeating myself too often and I'm afraid, becoming more a sore thumb than any help.

Yes the MQL5 signal is the same as the one I post in Myfxbook "EURUSD BEST EA".  The signal was shut down by MQL5 because I think MQL5 deem my account having too many frequent trades and hence bad for followers.  I've my Zulu account under HIT Major and HIT Homerun, which you can follow if you want.  But the quality of mirroring my trades not very good, because a demo account can only send out 30 signals and my account often exceed that amount and hence, many profitable trades were missed out.  Wait till I open an live account in Zulu trade and I'll inform you if you are interested to follow.  But meanwhile, please use a demo account to follow my Zulu account because it is still undergoing testing and risky for anyone to follow with real money.

As for which indicators to use.  Try those indicators with crossover such as Oscillator indicators but choose the "Higher than" options instead.

Hannah

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Hannahis

Thanks for this. I was just about to edit my post to say I noticed a clue in your other posts.
"There 3 time frame (H4, 15min and 1min) forms the main "structure" of the trading theory.  For each time frame e.g. H4, I may use 1 or 2 indicators, especially those with "higher than" options."

I'll experiment a bit more with 'higher than' options.

When making strategies with multiple timeframes I presume you're selecting your lowest timeframe as the 'Strategy Period' and building the higher timeframes slots on that, using the 'Longer Timeframe' selector in each Strategy Slot - as per the way FSB is structured.

Thanks again, very much appreciated.

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Vidagig,

Yes, I choose the 1min or 5min time chart and I add the H4, H1, 15min in my strategies using the Longer Time Frame features.

Hannah

9 (edited by hannahis 2015-07-12 05:03:32)

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Vidagig,

You can try using 1min time chart and input the conditions (use the steps given in my post "Longer Time Frame: How fast do you want to respond to market changes).  After you have in put the 3 key time frame "structure" i.e. H4, 15min and default.  Trying using the optimiser to help you find profitable trade.  Then from there you do your own observation and adjustment.

As for me, I have my own trading theory that I firmly trust and hence, I don't really use generator and optimiser features because it would change or "upset" my trading theory but for others, optimiser enhance their EA (so it all depends).  But generator and optimiser are good for those searching and figuring out. 


In my opinion, do your observation on a MT4 chart first.  Put all the indicators you shortlisted on the MT4 charts and adjust the parameters till you find a set of indicators and parameter that best respond to market changes (at most crossovers) but when you input the option in FSB pro, choose (higher than options because crossover only happened at an instant whereas "higher than" has a longer "happening" duration, so that if you choose crossover for 1 indicator and the rest of the indicators aren't ready yet, then you missed the opportunity to enter trade, likewise when the rest of the indicators are ready, your crossover indicator has already crossed over and now becomes "higher than", there again, another opportunity lost).  The advantage of using 1min time chart is that your EA is very responsive and hence, you don't need to waste too much time (only 1min lag) for your indicators to be in "higher than" positions to enter into a higher percentage chance of accuracy.  Whereas a H4 time chart, your indicators would be in "higher than" for 4 hours before you enter and you would have missed possible hundreds of pips because the price would have crossover 4 hours ago.

Hannah

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Hannahis

Thanks for taking the time to helpfully share your insights and methods which I will be trying to apply.
It's all such a learning curve - sometimes fun sometimes not so much.
I'm also following your thread on the subject of LTF's.
I recently got a license and access to the Generator and Optimizer after a few months learning on demo access, so I'm experimenting and doing battle with that at the moment...
Will release a bunch of strats and variations 'into the wild' tonite - that's the fun part.

Thanks again.

Re: Generator - can it use 'Longer Timeframe Indicators'?

vidagig_13

I suggest you use come caution regarding different time frames as sometimes people do not have good understanding of applications. Do some research on your own before blindly following others.

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

Re: Generator - can it use 'Longer Timeframe Indicators'?

Hi Blaiserboy

Thanks for the cautionary note. I do try to compare and validate info and use my judgement; experimentation and experience (to get even more confused haha).

I have noticed, when using the Generator on e.g. 5 minute bars - some indicator settings are very large, which in my understanding is effectively giving the indicator (and consequently the strategy) a longer term or longer (bar) timeframe perspective.

Thanks again for all your helpful input and perspective throughout this forum.