Forums Development Trading Systems – Development Develop an EA using the TZ/RZ theory Reply To: Develop an EA using the TZ/RZ theory

#550
maahome
Participant

    Hi Traderforlife1, I have been working on an EA that does the opposite. Since 97 percent of PTZ get closed I am trying to figure out how to make an EA that picks the right time/pips away from start of PTZ to trade back to it. Did some work with stuff i saw on the sim thread such as PTZ outside of BB and I have my own ideas about momentum with moving avg. but I still need to work on it. And I work 60+ hr a week. Spent Thanksgiving day learning about alerts and putting rectangles on the screen and still didn’t have time to get much into the “hybrid” EA I am working on to alert me when I should be looking for that return to the PTZ so i can trade it manually. I will study how you use iCustom with Recurrence Statistics as that was one of the things i wanted to learn about. I have been programming various languages since 1978 but the devil is in the details as far as getting anything useful. So here is what I got so far. When it sees a PTZ on daily it looks on hourly for BB extreme and makes a trade. This one has winning streaks and losing streaks through out the year on backtest so it isnt profitable as is but i think it has a lot of potential if anyone wants to improve it. In fact this one is worse than one without BB slope filters that added, but I give this one as it seems like it has more potential to tweak into a winner. Even though our approaches are opposite I think we can both learn something from the others EA. Ken

     

    Hi Ken,

    First please forgive me, I am not a coder but I am a trader and I follow Kiads and through this have found the transuient zones indi etc. One method I have paid attention to is the use of cumulative delta to look for divergence from price action. I have not been able to find one for MT4 that works like the one a trader friend has from Sierra charts I think it is? I have looked at a number of delta indi’s for MT4 but none give a good indication like this one where it prints the volume inside the bar. I have attached 3 screen shots that show divergence #1 is price action at a top edge level (underlined with green line) which most likely would have formed a PTZ, the second shows delta pushing higher for the same period creating divergence and then the break to the sell side. The third shows the chart snaps together.  In it you can see a big delta bar up with price following into what may well be a PTZ and then later this is followed by two up bars where price is forced down giving a hint that there is strong sell limits at the top of this zone. My thought is that if we were to be able to flag these types of behaviour inside or at a PTZ then we have a strong indicator that price will move away from the top or bottom edge when that occurs depending on where the zone forms. The image snap is either a top edge or a balance area as price moved up to it (so it could not be a bottom edge).  I apologize for the poor quality of the graphics but I am sure it will give you the general idea and hopefully some food for thought.

     

    cheers

    maahome

     

    • This reply was modified 9 years, 6 months ago by maahome. Reason: increase graphics
    Attachments:
    You must be logged in to view attached files.
    Scroll to Top