Raghee Horner Grab Candles Adjustments

• 03/25/2023 at 10:47 AM #212089
  Edoardo

  Hello everyone,

  I have worked on an indicator to make it more accurate and added the evaluation of market volatility using the Average True Range (ATR). I made some changes to the indicator code which can be found at this link: https://www.prorealcode.com/prorealtime-indicators/raghee-horner-grab-candles/.

  I would like to compare my new indicator with the original one to evaluate the effectiveness of my changes and get your feedback based on your experience.

  Thank you in advance for your comments.

  Edo

  a = ExponentialAverage[34](High) b = ExponentialAverage[34](Low) c = AverageTrueRange[14](Close) if Close > a + c / 2 Then DRAWCANDLE(Open, High, Low, Close)COLOURED(0,255,0) ELSIF Close < b - c / 2 Then DRAWCANDLE(Open, High, Low, Close)COLOURED(255,0,0) else DRAWCANDLE(Open, High, Low, Close)COLOURED(0,0,255) endif RETURN

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  a = ExponentialAverage[34](High) b = ExponentialAverage[34](Low) c = AverageTrueRange[14](Close)   if Close > a + c / 2 Then DRAWCANDLE(Open, High, Low, Close)COLOURED(0,255,0)   ELSIF  Close < b - c / 2 Then DRAWCANDLE(Open, High, Low, Close)COLOURED(255,0,0)      else DRAWCANDLE(Open, High, Low, Close)COLOURED(0,0,255)      endif   RETURN

   

  

  Edoardo

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  03/25/2023 at 11:08 AM #212090
  robertogozzi

  It doesn’t look much different; it seems that green and red candle sequences are a little be more fragmented sometimes.

  The most effective way is to have the same strategy coded for both of them, then comparing the results.

   

  1 user thanked author for this post.

  Edoardo

  

  robertogozzi

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  03/25/2023 at 12:11 PM #212096
  JS

  Hi,

  What do you mean by “effectiveness”…?

  More profit or a better win percentage, lower drawdown or more robust… etc…?

  What is your main goal…?

  What you’re doing now is putting an extra band, of half an ATR, around the original band…

  As a result, the number of trades will decrease and (probably) also the profit…

  

  JS

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  03/25/2023 at 3:26 PM #212106
  Edoardo

  Hi JS,

  by “effectiveness” I meant to achieve both greater profits and a better winning percentage. I thought that by making the sideways movements clearer, it would be possible to improve the safety of the entries.

  Thanks!

  Edo

  

  Edoardo

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  03/25/2023 at 4:22 PM #212107
  JS

  Hi Edo,

  I compared the two systems and as expected the number of trades has decreased but the % win trades have increased from 62% to 67%…

  The profit has also decreased, but with a good MM system that can be absorbed…

  In general, I think that the modified system is less stable partly because another variable has been added which must probably be optimized…

  I have expanded the original system with a simple MM system and the profit has increased from 14,000 to 151,000…

  

  JS

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  03/26/2023 at 9:08 AM #212124
  Edoardo

  Hi JS,

  Thank you very much for this in-depth analysis and for sharing statistics and reasoning. I have a question: how did you integrate my new indicator into the strategy to make a comparison between systems? Would you be able to share the code?

  Thank you in advance. Have a nice Sunday.

  Edo

  

  Edoardo

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  03/26/2023 at 9:35 AM #212126
  JS

  Hi Edo,

  Hereby the custom code…

  Raghee Horner Grab System V1.1

  DefParam CumulateOrders = False Once EMAPeriod = 26 Once ADXPeriod = 6 Once ATRPeriod = 14 Once TStart = 20 //Trailing Start Once TStep = 2 //Trailing Step a=exponentialaverage [EMAPeriod] (high) //Upper Grab b=exponentialaverage [EMAPeriod] (low) //Lower Grab c=AverageTrueRange[ATRPeriod](close) d=ADX[ADXPeriod] //Average Directional Index If Close > a+c/2 and Close[1] < a+c/2 and d > 25 then //Start UpTrend and ADX>25 Buy 1 contract at Market EndIf if Close < b-c/2 and Close[1] > b-c/2 and d > 25 then //Start DownTrend and ADX>25 SellShort 1 contract at Market EndIf //************************************************************************ //trailing stop function trailingstart = TStart //trailing will start @trailinstart points profit trailingstep = TStep //trailing step to move the "stoploss" //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pipsize THEN newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF //************************************************************************

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  DefParam CumulateOrders = False   Once EMAPeriod = 26 Once ADXPeriod = 6 Once ATRPeriod = 14 Once TStart = 20 //Trailing Start Once TStep = 2 //Trailing Step   a=exponentialaverage [EMAPeriod] (high) //Upper Grab b=exponentialaverage [EMAPeriod] (low) //Lower Grab c=AverageTrueRange[ATRPeriod](close) d=ADX[ADXPeriod] //Average Directional Index If Close > a+c/2 and Close[1] < a+c/2 and d > 25 then //Start UpTrend and ADX>25 Buy 1 contract at Market EndIf if Close < b-c/2 and Close[1] > b-c/2 and d > 25 then //Start DownTrend and ADX>25 SellShort 1 contract at Market EndIf   //************************************************************************ //trailing stop function trailingstart = TStart //trailing will start @trailinstart points profit trailingstep = TStep //trailing step to move the "stoploss"   //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF   //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pipsize THEN newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF   //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF   //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF //************************************************************************

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  JS

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