Chandelier EA - A new look

User avatar
Freedom787
Trader
Posts: 30
Joined: Wed Mar 13, 2013 3:46 pm
Location: United States

Chandelier EA - A new look

Post by Freedom787 »

Edit: Please note, this code has not been prepared for live trading. Error handling and global variables were not implemented for live trading conditions yet. This is still experimental.


Hello everyone.

Bored last week, I was running a few EA's and looking for opportunities. I ran 3-4 different EA's I had downloaded based on the Chandelier Indicator. For those of you not familiar with it, it more or less looks like a fancy SAR indicator. I found that several other people's EA's had good entries, but had a poor trade management system, so I figured it has some potential.

I took the indicator, combined it with Steve's old RSI trend indicator, and used some of Steve's breakeven and jumping stop loss code, and whalah.... we have a new EA with some decent results.

The EA made 20% in 6 months on a couple backtests. All the settings should be self explanatory. Running it on H1, EURUSD ootb ( out of the box )

Looking for ideas on how to make this more profitable. Adding the 240 min time between entries ( 4 hours) , RSI filter, and tight stop loss with a decent run for TP really changed the EA compared to what other people were doing.


Note on how to use:
Place the Indicator in your Empty4 folder -> Experts - > Indicators
(compile the indicator in your editor)
Chandelier example.png
You do not have the required permissions to view the files attached to this post.
Last edited by Freedom787 on Tue Apr 23, 2013 10:47 pm, edited 4 times in total.
dietcoke
Trader
Posts: 162
Joined: Tue Nov 15, 2011 9:59 pm

Re: Chandelier EA - A new look

Post by dietcoke »

Freedom787 wrote:Hello everyone.

Bored last week, I was running a few EA's and looking for opportunities. I ran 3-4 different EA's I had downloaded based on the Chandelier Indicator. For those of you not familiar with it, it more or less looks like a fancy SAR indicator. I found that several other people's EA's had good entries, but had a poor trade management system, so I figured it has some potential.

I took the indicator, combined it with Steve's old RSI trend indicator, and used some of Steve's breakeven and jumping stop loss code, and whalah.... we have a new EA with some decent results.

The EA made 20% in 6 months on a couple backtests. All the settings should be self explanatory. Running it on H1, EURUSD ootb ( out of the box )

Looking for ideas on how to make this more profitable. Adding the 240 min time between entries ( 4 hours) , RSI filter, and tight stop loss with a decent run for TP really changed the EA compared to what other people were doing.

Chandelier example.png

Are you sure you have that the right way round. :?

Most people who test chandelier/SAR systems find it's the entries which are poor and they only add value as a form of sophisticated trailing stop to a more reliable entry.
Image
User avatar
mobthehop
Trader
Posts: 362
Joined: Wed Nov 16, 2011 12:16 am

Re: Chandelier EA - A new look

Post by mobthehop »

Hi f787, will gibe it a whirl - out of curiosity what exactly is "Steve's old RSI trend indicator"?

Cheers / Mop
User avatar
Freedom787
Trader
Posts: 30
Joined: Wed Mar 13, 2013 3:46 pm
Location: United States

Re: Chandelier EA - A new look

Post by Freedom787 »

mobthehop wrote:Hi f787, will gibe it a whirl - out of curiosity what exactly is "Steve's old RSI trend indicator"?

Cheers / Mop
It's a look at the RSI, making sure the RSI is beyond the 55 for a buy or below the 45 for a sell and not reversing in direction. I found it in some of his code at FF and it performs nicely in a lot of situations IMHO.
Last edited by Freedom787 on Mon Apr 22, 2013 2:04 pm, edited 1 time in total.
User avatar
Freedom787
Trader
Posts: 30
Joined: Wed Mar 13, 2013 3:46 pm
Location: United States

Re: Chandelier EA - A new look

Post by Freedom787 »

dietcoke wrote: Are you sure you have that the right way round. :?

Most people who test chandelier/SAR systems find it's the entries which are poor and they only add value as a form of sophisticated trailing stop to a more reliable entry.
Not sure, check it out and let me know what you think. I'm not a big fan of indicators like this in general, but when I watched it chug away, i was impressed that some of the trades were positioned very nicely. Maybe it was dumb luck. Figured I'd share here and see if there's anything worth developing further.

Maybe I"m really just trading the RSI value from the trend filter here.
User avatar
ChicagoRob
Trader
Posts: 48
Joined: Sun Dec 04, 2011 11:26 pm
Location: Chicago, Illinois

Re: Chandelier EA - A new look

Post by ChicagoRob »

Just loaded the EA and indi into my tester. I'm getting an "OrderReliable_V1_1_4.mqh" error when compiling and the EA won't open. It also won't open on my live account.

Rob
User avatar
Freedom787
Trader
Posts: 30
Joined: Wed Mar 13, 2013 3:46 pm
Location: United States

Re: Chandelier EA - A new look

Post by Freedom787 »

ChicagoRob wrote:Just loaded the EA and indi into my tester. I'm getting an "OrderReliable_V1_1_4.mqh" error when compiling and the EA won't open. It also won't open on my live account.

Rob
Fixed in post 1, uploaded the wrong version.
User avatar
jako
Trader
Posts: 95
Joined: Wed Jun 20, 2012 6:07 pm
Location: Slovensko

Re: Chandelier EA - A new look

Post by jako »

Version of page 1 is not working.
User avatar
Freedom787
Trader
Posts: 30
Joined: Wed Mar 13, 2013 3:46 pm
Location: United States

Re: Chandelier EA - A new look

Post by Freedom787 »

jako wrote:Version of page 1 is not working.
Just downloaded and tested.. compiles with 0 issues. Make sure to have indicator in the indicator folder.
User avatar
ChicagoRob
Trader
Posts: 48
Joined: Sun Dec 04, 2011 11:26 pm
Location: Chicago, Illinois

Re: Chandelier EA - A new look

Post by ChicagoRob »

Backtests are looking pretty good at this point. I'm going to change the settings
around and see if I can improve performance.

One thing I would like to see is a half-close option added to BE. This is pretty
much boiler-plate code in Steve's EAs.

Rob
Locked

Return to “Automated trading systems”