Jag's Phantom 6 System (Jag's Phantom 6 System) - MT4/MT5 Resources

Hello everyone,

I modified MetaCoder's Phantom 6 EA and used it in a way that I thought would be more profitable in the long run.

What's the difference you ask me?

-Make it a little more dynamic... I don't like some of the code, it's inefficient use of global variables. I used an array and did some cleaning.
-Logically, it's completely different. I trade 2 baskets, 1 Asian basket and 1 London basket. I clear dummy trades at the beginning and end of each trading session instead of every 8 hours.
-If the trade spans multiple trading sessions, I just try to break even, not profit percentage. The idea is to try to escape a potential, lingering basket of death.

If you don't know what Phantom 6 EA is, please read:
http://www.forexfactory.com/showthread.php?t=262936

For background information on the theory, read Basket 14 EA:
http://www.forexfactory.com/showthread.php?t=252521

Take a look at the code, it's pretty self-explanatory. I tried to comment how it works and the variables.

It is very easy to modify, because with MetaCoder, the code is already very clean!

Attached is the frequently updated Japanese Yen currency pair, which I spent 30 minutes on Geppy. No indicators needed!

I know MC uses a 1 hour timeframe (trades are taken every hour regardless of the TF you attach to it), but I made it dynamic (you can trade every minute if you want). I'm playing M30...there's a transaction every 30 minutes...whether this is a good idea or not is yet to be determined.

This is a no loss strategy and unlimited margin will keep bringing in cash...can't we all work for the Fed?

Do not use it live until we test whether the EA is sound and profitable in the long term!

To trade the EA with two baskets, your broker must offer the following currency pairs (first 5 buys and last 5 sells):

London
1. Actual exchange rate of GBP/USD
2. EUR/GBP
3. British Pound Japanese Yen
4. Actual exchange rate of US dollar against Swiss franc
5. Euro Japanese Yen Real
6. Euro USD Real
7. Actual exchange rate of U.S. dollar against Japanese yen
8. GBPCHF real value
9. Swiss franc Japanese yen
10.EUR CHF

Asian
1. Real value of GBP/USD
2. EUR/GBP
3. Euro Japanese Yen Real
4.AUD/JPY actual
5. British Pound New Zealand Dollar
6. EUR/NZD Real
7. Euro
8. Australian Dollar New Zealand Dollar
9. New Zealand Dollar Japanese Yen Real
10. Actual exchange rate of pound against yen

But of course you can come up with your own baskets that suit your broker and follow the criteria that they must offset each other (buys and sells should be offset)

Version:
V1x - Trade filter added (only if all current trades on the same currency pair are profitable).
This will prevent it from trading on retracements/trend changes on your phantom runner...

PRO: Reduce trades, only add winners Disadvantage: The currency pair must move further to achieve your profit target. If this is just a pullback, then you should take the trade. If this is a change in trend, then you have avoided a retracement.

V2 - Add V1x plus time of change (not modifiable)
Changing the time will help us correctly detect strong and weak ghosts. You can't pick an arbitrary time and say let's trade the strongest illusion..unless you want to retrace first and then take profit. This attempts to optimize and skip the retracement phase and take profit directly (highest chance of immediate profit...obviously not guaranteed).

It will open a new basket within the first 2 hours of each session. Afterwards, if the session ends, it will try to reach the profit target or BE.

London Open preparation: 8 GMT
London trading: 10:30 GMT
London closing time: 14 GMT

Asian Open preparation: 20 GMT
Asian trading: 0 GMT
Asian closing time: 6 GMT
(No trading during Asian session on Monday)

I also add a basic principle "Don't let winners become losers." Therefore, I added BE for trades with profits above 200 ATR (per hour). It would help if you added a bunch of trades that almost hit the target but then suddenly reversed... at least you wouldn't lose too much and you would have minimal lurking trades in DD (just trades where the profit didn't reach over 200 ATR points). Since we only add winners... this will significantly reduce the number of bad trades.

Disadvantages: It takes longer to reach your profit goals. You may have BE and more latent trades across multiple trading sessions. You have to hope that the market will choose a direction and follow it.

V2a - placed on M15 chart only!
----

This version uses some suggestions Timmy gave me.
- Trade on M15 chart using only 15 minute and 45 minute bars.
- Volatility filter (SMA of ATR and the provided indicator - MA-ATR). This can be modified through the EA settings.
-Changed trading hours...
- The new basket will now open at the start of the session (11:15 GMT)... and will reset the phantom at 11:00 GMT... which is usually a trend with the London/New York overlap
- We can open new baskets within the first 2 hours. Namely: London (11:15 GMT to 13:45 GMT), which are 6 bars to look for potential entry opportunities.
- If the basket is open, you can trade until 17 GMT... at which point you will be looking for exit opportunities (at least BE)

- If the symbol is already open for trading... add another trade only if minProfitBetweenTrades is met (ie: $10 set it to 10)
- Start trading using a real currency pair as anchor. After that the EA can open trading on any virtual currency pair. The idea is that the anchor pairs (real pairs in the EA setup) determine the direction of the basket... so use them to achieve the best entry into the basket. Previous versions only traded anchor pairs (real pairs), not phantoms.

- There is also a bug in the code that allows it to trade during Monday's Asian session.

Thanks,
Jaguar