Tagged: Orcus currency strength
[ ]August 29, 2015 at 1:04 am #7763
This look great!
I guess the degree of success is in the settings, so does anyone have some I can start with?
Firstly a big thank you to xux99 and secondly, how are people getting on with this EA? What settings have people been using?
This is a grest idea to use currency strength for trading.
However, why dont we use currency strength as a confirmation for price action? Then we can trade 1 order by 1 order instead of a whole basket (which is during sudden reversal, we will hit big SL).
May I suggest using the following?
– EMA trend filter
– Price action (Engulfing, Pin bar, breakout…)
– Currency strength alert to confirm
We can apply very small SL (principle of using Price Action SL) and a good reward ratio.
If you have some free time, pls add my skype id: vinhlq_umt
I would be very happy to discuss in further details.
Thank you for your EA.
I test it and I try to find the best settings, for the moment it run on my VPS.
I don’t want basket trades management, I want only a Stop Loss of 180 pips and a Take Profit of 60 pips on each trades open, is it possible? If so, what would be the EA parameters about this stop loss (180 pips) and take profit (60 pips)?
Hey, I really like this one and I am really messed up with all those settings. Does someone want to make a youtube video, which shows at least how to set it up and what are the settings to focus on and so forth. A post here would also be an aid.
I’m have been using your EA for sometime now. Is there any way to make sure only 1 trade per pair in 1 day?
buy GBPJPY, then it will close if hit TakeProfit or StopLoss. After the order closed, it will not open another trade from GBPJPY pair for the day. It only open new trade on the next day…same goes to others pairs.
I have run forward test your EA last week. It works great at first. Then fake signal from market make the trade goes bad.
I have a suggestion to add into Orcus. I suggest to put Hedging Auto Recovery functions into Orcus. This function will hedge all trades until it get a larger Profit > Loss.
It will cover the market’s fake signal.
I hope you consider my suggestion.
I agree with you.
But with right settings and right equity, it might rescue a bad trade……at least make it break even or minimum the lost from fake market’s signal.
I truly appreciate if you could add the function. It will make Orcus close to holy grail system.
I can not find “ShowTradesInfo” in the EA.
- This reply was modified 2 years, 4 months ago by sucker.
First off I just want to express gratitude towards this that you have built and shared with everyone. It says a lot about you
I recently started running this and I have built a mental picture of how the trades executed would look like on an oscillator based interface.
That being said I wanted to run some ideas by you
The take profit by pips or percentage of account balance etc is great. However, the EA being in sync with the market would prove a more effective way of closing trades. In order to do this, I suggest closure of trades when the strong and weak currency have reverted back to the middle of the specified range.
So, for example, let’s say that the strength limit is set to 6 and the weak limit is set to 3.
AUD breaks 6 and JPY falls below 3 so now a buy is open on AUDJPY.
Let’s say that AUDJPY trends up for 100 pips, great trade now it’s time to get out should the market show weakness.
If you have the get out on the opposite signal enabled on the EA then you would have to wait for AUD to break below 3 and JPY to break above 6 for the signal to reverse and get you out of your buy trade. By this point, the market might have wiped out all of your profit and then some.
To avoid this I recommend adding an exit option to get out of the trade when the strong currency (AUD) has reverted back to the range between 6 and 3, or the strong currency AND the weak currency (JPY) have both reverted back into the specified range between 6 and 3. This way you’ll take smaller losses and secure more profits
This is what came to mind to make Orcus more profitable. Let me know what you think and also whether or not I made any sense haha. I’d love to hear from you. Thanks again!
This weekend is gonna seem like an eternity before Monday rolls around!
I’m so excited to start testing it!
If you’d like, I will keep you posted with results.
So I’ve been testing Orcus rigidly the past two weeks. Btw I looked up what or who Orcus was and I laughed. You have a little bit of gamer in you huh?
Anyways I was out of the game with a personal injury for awhile so that’s why I didn’t update you, but I’m back on the charts again thank goodness.
So, back to business. I was watching Orcus and I noticed it always took heavy losses in the afternoon. The lower the timeframe, the heavier the losses (default settings).
I did some research and found out exactly how the Currency Strength Alerts indicator works. It works on a calculation that uses the bid ratio.
It’s Achilles heel is that it starts again at the onset of the Daily bar. The reason that this is a big issue is because the closer that current price is to the high and the low of the bar, the more influence smaller pip movements will have on the calculation of the strength for the currency. This is gonna throw a ton of false signals until price moves further away from the low or high and things will naturally settle down later in the day. This is why Orcus was getting hammered no matter what every single afternoon
Ok now I thought about ways that I can mitigate this weakness in the indicator. Heres what I came up with.
1. Avoid trading the first few hours of the daily bar, until things settle down
2. Implement a rolling timeframe into Orcus
Orcus is doing much better by just skipping the first few hours of the D1 bar but I think it implementing a rolling timeframe would be a better way to go about it.
Say you took the bid ratio (currency strength) of 24 H1 bars to get a rolling representation of the last day. This way it would be consistent, rather than fully resetting every day. Basically, instead of working from the D1 bar, it will work from the last 24 H1 bars. By doing so, the calculation is always done on 24 hours of data…not however long through the daily bar that time happens to be.
The results will be different at the beginning of the day but will match exactly by the end of the day!
Let me know what you think! Thanks!
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