I am not sure why the indicator missed this one. Regardless, it is another absolutely beautiful setup:
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Posted 21 July 2016 - 11:41 PM
Here is a similar set up to the one I posted earlier: a shooting star above the upper bollinger band. It would be nice if the indicator had the option to show set ups like this as well as bullish or bearish hammers that both open and close below the lower bollinger band.
Posted 22 July 2016 - 12:16 AM
It is really weird.
I get arrows on FXCM MT4 but when I loaded indicator onto NoaFX no arrows.
So sorry guys let me try again.
I have recoded BB 5 Min Arrows.ex4 as a standalone indicator.
YOU DO NOT NEED WickPercentage_arrow_options.mq4 now.
I suspect WickPercentage_arrow_options.mq4 may have been the problem.
Note BarRange To BarBody setting : a high setting means long wicks such as pinbars / dojis.
As we do not want dojis and pinbars then use a lower setting below 2 such as 1.6 or 1.5
Play around with this setting.
If you use 10 you will see dojis and pinbars.
The screenshot shows it works in NoaFX
A million Thank Yous for creating an indicator and ea for mararakudzai's 5 minute expiry bollinger band strategy. I am still tinkering with the input settings but I have absolutely been killing it with your indicator! You are the man!
Posted 22 July 2016 - 01:27 AM
As we all know, they cannot all be winners. This otm trade was annoying because it would have been itm seconds after expiry. Please note I had a high setting of bar range to bar body of 2 for this set up. Had I followed jimtang's recommendation and used a lower setting, this trade would have been filtered out. Like I mentioned earlier, I am still playing with the settings to see which one I like best then sharing my experience with everyone in as close to real time as possible.
Posted 22 July 2016 - 05:46 AM
I am glad my indi and EA are working well.
Fat Stax makes some very valid points regarding pinbars.
Basically we are trading price reversals, and pinbars may help.
For a CALL, a long lower tail/wick on alert bar suggests BUYERS are winning.
For a PUT, a long upper tail/wick indicates SELLERS are winning.
At the moment, the Indi / EA are coded for short wicks upper or lower and does not make a distinction between them.
It merely avoids long wicks as found in pinbars.
I have tried to code to follow the OP's original rules which give decent backtest results.
You can backtest any pair yourselves
I have coded my indi into Konkistadorr Empty EA for Binary Option test.mq4
It is a wonderful tool.
Put Konkistadorr Empty EA for Binary Option test.mq4 into EA folder.
It is an EA tester.
MT4 - VIEW tab ( Upper Right )- Strategy Tester - Settings Tab ( Bottom Left ) - Select Expert Adviser - Forex pair Symbol - M1 - Expert Properties ( 5 bars )- START
In my humble opinion, bollinger bands REPAINT so backtests are only an indication of strategy success.
Of course if we get a crappy 40% then forget strategy !!
Konkis_EA_BO_Tester_v1.2 BB 5 min Arrows.mq4 22.78KB 103 downloads
Screenshot of Konkis_EA_BO_Tester_v1.2 BB 5 min Arrows results
EURUSD.png 22.63KB 34 downloads
Posted 22 July 2016 - 06:51 AM
Nice work Jimtang if you use every tick in stat tester should get fairly reliable results.
If i am not wrong I believe Silverdream's EA was similar maybe he could comment, I maybe wrong.
Certainly people seem to be getting good results at the moment, as with all BB stuff we pray for no waterfalls.
Posted 22 July 2016 - 07:20 AM
Nice work guys: Jim , you were just couple minutes before me, also wanted to post the Konkis EA with your EA code in it.
Anyway here are my results so far (using opening prices in strat tester, not every tick) : also tested USCCAD/ AUDUSD and NZDUSD but dindt got very profitable results...
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