thread: Bobnannings Range trading method

Queries for Arnold.

ATRperiods and ATRmultiplier

ATRperiods is your no. Of bars back to appearance and is put at 13 (adjustable)
If this is used on 5 min chart, this would be 13 times 5 = 65 minutes?

ATRmultiplier is a factor to multiply the ATR by and is put at 6 (also adjustable)
The 65 minutes is slowed times 6 for a total of 390 minutes?

For every pair your EA is attached to, the EA will take the average of their last 390 minutes, and enter there? Or enter 80 pips above that?

The template on the other thread is not required, then?

Hey Steve,
I'm rather wondering your option to omit midnight to 8 a.m. simply because before in the process here, that very time period was the prime trading time....

Tommyd,

that the time that I omitted was GMT and on GBP/USD that is a quiet time, which of course lowers the ATR, therefore when the price suddenly climbs at 6 or 7 am I don't get caught out.

If you look at the line of code before the one with buffer inside, you will see it described as a double factor here:
double buffer = MathCeil(100000*ATRmultiplier*(iATR(NULL,0,ATRperi ods,0)));

basically all this does is multiply the ATR to ensure it is large enough to use, and call the amount buffer that is the reason why you now see that instead.

All you need to do is remove one of the zero's from 100000 to alter it to 4 digit usage.

Steve.

Thank's Steve...

Paradoxical Queries for Arnold.

ATRperiods and ATRmultiplier

ATRperiods is the no. Of bars back to look and is set at 13 (adjustable)
If that can be used on 5 minute chart, this could be 13 times 5 = 65 minutes?
No, leave it at 13, it's simply the no. Of bars eg 288 is 24 Hrs.

ATRmultiplier is a factor to multiply the ATR by and is set at 6 (also adjustable)
The 65 minutes is multiplied times 6 for a total of 390 minutes?

This corrects the size of the buffer or the gap between the 40MA along with also the first trade taken, it's not a time measurement.

For each pair your EA is connected to, the EA will take the average of the previous 390 minutes, and input there? Or input 80 pips over that?

It would take the average of 13 bars X 5Mins =65 mins,
overlook the 80 pips that's now replaced by the ATR so that it varies with how busy the market is

The template on the other thread isn't required, then?

The older template is no use now.


See above

Thanks for the quick and informative replies, arnold. I have one final question

For every pair your EA is connected to, the EA would take the average of the previous 390 minutes, and enter there? Or enter 80 pips over that?

It might take the average of 13 pubs X 5Mins =65 mins,
overlook the 80 pips that is currently replaced by the ATR so it varies with how active the market is

The template on the other thread isn't needed, then?

The older template is no use today.

What decides if the EA will buy or sell? And, is the buy or sell right at the ATR? Is this opening two positions such as the 100X80 EA? That's 3 queries.

If I use the standard ATR in MT4 also it's set at 13 does it give me any read in your system. I am trying to visualize your system so I can eyeball backtest it. Is that possible? I am not familiar with the ATR and have never used it.

Steve,
My placing must not be right yet. I ran them through the egy tester for the GBP/usd 5M for this week and just get 4 transactions for a profit of $2.79. Please assess my settings.My broker isn't a 5 digit broker. LOTS .01, tp 60, mult. 1.8, ATR periods.6, max.trades 5, pips 40, sl 400. Additionally, to find this to not exchange from 12 midnight-8:00 am EST do you place New York hours- true start 14,stop 5 GMT? Thank you

Should I use the standard ATR in MT4 also it is set at 13 does it give me some read on your system. I am trying to visualize your system so that I can eyeball backtest it. Is that possible? I'm not knowledgeable about the ATR and have never used it.

Yeh whats the ATR, im very new to mt4 therefore that I havent come across it

ATR = Average True Range

so using the atr set to 13 will give you the average range over a 13 period lookback.

Hello, I have heard of range trading and I'd like to demo it to determine how it functions. I am not sure of exactly what settings the EA should be done at besides a 5 minute time period. If they set in the default setting on the EA, such as take profit 600 or should they be altered?