‘Exit after bars’ in profit/loss
Current ‘Exit after bars’ simply exits after X bars from entry.
Is it possible to ‘exit after bars’ in profit/loss?
If 10 consecutive bars in loss then exit.
If 20 Consecitive bars in profit then exit.
Possible currently or in new EA Wizard.
Also would like to see “Exit @ end of day” added to new EA Wizard.
and what is the logic of it? Patrick
Nice one, Threshold. I’m also wanting something like this to better control exits.
I noticed your equity growth curve shot up today on the back of NFP’s…good job!
My equity growth curve has also had moments significantly above actual growth but I’m thinking I need to diversify my portfolio further to incorporate strategies that take profits quicker to supplement the swing and longer term trade strategies, as I just don’t seem to be realising profit before equity growth falls back down again.
It can be a little frustrating watching the portfolio cut off the losers early in the hope that the winners run longer, but then for the winners to regress a little…hopefully before running even further in to profits (but obviously the frustration is when that doesn’t happen).
I’m going to do a thread on my automated portfolio in coming months, maybe when SQ4 is released. It only has a few strategies in it, and nothing has been added to it since last March when it started. In fact 1 strategy was removed that I ran through a Walk Forward and some others tests and determined it shouldn’t have gone live at all but I forced it in. It contributed a good amount to the drawdown.
I have about 12 really good EA Wizard strategies waiting to be added that require portfolio-level optimization (they trade multiple pairs using the same rules and settings) from SQ4 that will really boost its trade frequency and profitability. I’ve stayed away from making anything in SQ for much of the last half year because it doesn’t have symmetric optimization for most of the parameters.
The strategies in the portfolio right now are mostly D1 based(EA Wizard) and only trade a few high percentage breakouts per year. The 2 otheres are SQ strategies on EURUSD that are trend following in nature (lots of losses but really big occasional wins) that I’ve been using successfully before the public portfolio was even created.
I am hoping a beta of SQ4 comes around the New Year/January so I can get all these other strategies into the public portfolio and get its trade frequency up & $.
On the NFP: Yes, D1 based strategies tend to greatly benefit from volailile events, whereas strategies trading on small timeframes get destroyed by them, unless you have a really, really good broker with deep liquidity.
Not sure if you have managed to figure this out yet, but here is a possible solution for you…
Rather than using ‘Exit after bars’ you can setup a new rule to do the following:
Under strategy control, use
‘Bars Since Order Open’ for Magic Number X greater than/less than/equal to Number of bars [ x ]
Open P/L (either pips or money) is greater than/less than X Profit/Loss
Close position Magic Number X
Etc…for however many number of orders you have setup.
Hope that helps.
Also, I’ve posed my own question for a problem I’m having here: https://strategyquant.com/forum/topic/4050-delete-pending-orders-if-initial-order-is-closed-or/in case you’re encountered this problem yourself.
Thanks in advance.
Ok now I know the solution thanks you Tomas in my other thread.
Create a “counter” and an optimizer.
Variable = BarsProfitLongCounter = 0
Variable = BarsProfitOpt = 5 //This one gets optimized
System exits after 5 consecutive bars in profit.
Rule Long Counter
If OrderPosition is Long
and Close[1 ] > OrderEntryPrice //Meaning last bar was in profit
BarsProfitLongCounter = (BarsProfitLongCounter+1)
Rule Long Exit
If OrderPosition is Long
and BarsProfitLongCounter = BarsProfitOpt
Rule LongCounter Reset
If OrderPosition is long
and Close < OrderEntryPrice
BarsProfitLongCounter = 0 //If any bar closes not in profit, reset the counter.
-This “Counter” variable can be used in so many dif ways such as counting consecutive days above MA, consecutive times ADX has risen/fallen or consecutive days RSI overbought/oversold as just a couple examples. Its quite powerful.
Yes, at the first look EA Wizard seems to be pretty limited but then you start to play with variables and various condition – almost anything can be achieved. When combined with SQ this will be powerful. Looking forward to it personally 🙂
Thank you very much. I don’t know if I’ll understand the example as I’m a newbie and clueless in programming, but ill try.
I configured Threshold’s conditions (with and without IsBarOpen) and ran them on MT4 backtests, all do not close at 5th bar on profit (likely same for losses).
Did I miss out something?
Thank you Threshold for sharing the concept/idea… 🙂
you have to use “evaluate on bar open only” or isBarOpen because you need the counter work to count only when a bar switches to next bar. I have modified your project. It now trades for me
Btw, when comes to Multiple Time Frame(MTF) back testing, does MT4 backtest do MTF testing well?
some guys reported it is not possible in MT4. I have tried some sample EA Wizard rules and it was working so probably depends on EA complexity
Multi TF testing works. You need to run the test on the lowest TF the system is referencing. EA Wiz code will calculate the higher TF price/indicator points from there.
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