Beauty - Bride of The Beast (The Beauty - Bride of The Beast) - MT4/MT5 Resources
Attachment True to her name, Beauty is the timid version of The Beast (TB). I'm afraid of wild beasts. It performs well in volatile markets, but its strategy for countering trends is to double down, triple down, and quadruple down. A huge explosion is always lurking, although the likelihood of it happening at any time is slim.
It's essentially "short volatility," which is another name for "cutting the winners short and letting the losers move on." There is nothing we can do about it.
But I think strategies can change. Now, "beautiful" is a far cry from TB, and in some cases will give very different results. I think Beauty will give some nice profit when the beast is raging, but when the beast is howling in agony, Beauty will take damage, but not as horribly.
This EA is almost entirely derived from the interesting counter-trend system found here called "The Beast" (or Sixth Trade).
http://www.forexfactory.com/showthread.php?t=263253
Changes include:
* Changed to LibOrderReliable4 for all order processing
* New "Changing Trend" six-point line and related indicators
Changes in V 0.2.3:
Very significant new changes.
1) The "six points" will now move, stretch and contract with the estimated trade. The center position moves partially in the same direction as the trend, using the multiplication factor given by "trendAdjust" (default is 0.2). It continuously moves them based on its estimate of the current trend using 4 EMA.
The trend-changing six lines require some explanation.
Traditionally, a "six point" works by finding the high and low points of a given time period and dividing the range into sixths.
It also stretches/shrinks. It is worth noting that the unintuitive strategy of contracting with the larger trend seems better - because during the trend, the price is well beyond the scope of the contraction. This factor is controlled by trendSizeAdjust.
If you set the two new parameters to 0.0, you should get the classic "sixth" gold and green entry points.
The included indicator lets you play around.
2) A completely new concept about quitting losers. If you set "UseDecayingTakeProfit" to true ("Yes" by default), it has a new strategy of a moving "Take Profit Line" that decays further into the loss zone over time. At "HoursToStartDTP" (which represents the number of bars in 1 hour since the opening time), it will open a TP on the center line. It will linearly decay TP over time (affected by changes in the dynamic six-degree line) to reach the closing yellow line via HoursToReachYellowLine (calculated from the opening time, not HoursToStartDTP). It continues to decay further, but these two parameters give the instantaneous slope of the straight line. To clarify, since this is a loss recovery system, the target price for a buy that remains open will continue to decrease over time until the trade is filled. Reverse sale. This means you will gain TP over history, many of which actually have losses. This is normal.
All other transaction management features are turned off by default. Should they open? I have no idea. Please try many different parameters!
Q: Does this have all the features of Steve Hopwood's versions N, N+1, N+2,..., N+117 of The Beast?
A: No, it was split around mid-November.
Q: Does it also have bugs?
A: There are fewer of these, but maybe some new ones. I worked hard to clean up the code (to a certain extent), and the use of LibOrderReliable helped to get more accurate transaction execution (at least in the demo). I haven't seen any major bad trades in over a week.
Q: What’s going on with invisibility?
A: It has been removed to simplify coding. Sorry, this one uses magic numbers and trade comments. If it turns out to be necessary, I'll write a library to do real stealth order manipulation, saving the tickets in a global variable.
Q: What will happen if I enable the <Transaction Management Function> when TP drops?
A: You could tear a hole in the fabric of space-time of our world and allow unspeakable abominations from some other plane of existence to infiltrate. Then you stop thinking about points and find a bunch of scruffy wisecracking guys who happen to be carrying gigawatts of unlicensed particle accelerators in their backpacks. But it can also work well for things like breakeven and jump stops.
Q: What happens if I also turn on recovery?
A: No one knows, but you might make Gozer very, very angry. You don't want this.
Latest update: V0.2.4 - Fixed deletion pending bug, other minor changes.
It's essentially "short volatility," which is another name for "cutting the winners short and letting the losers move on." There is nothing we can do about it.
But I think strategies can change. Now, "beautiful" is a far cry from TB, and in some cases will give very different results. I think Beauty will give some nice profit when the beast is raging, but when the beast is howling in agony, Beauty will take damage, but not as horribly.
This EA is almost entirely derived from the interesting counter-trend system found here called "The Beast" (or Sixth Trade).
http://www.forexfactory.com/showthread.php?t=263253
Changes include:
* Changed to LibOrderReliable4 for all order processing
* New "Changing Trend" six-point line and related indicators
Changes in V 0.2.3:
Very significant new changes.
1) The "six points" will now move, stretch and contract with the estimated trade. The center position moves partially in the same direction as the trend, using the multiplication factor given by "trendAdjust" (default is 0.2). It continuously moves them based on its estimate of the current trend using 4 EMA.
The trend-changing six lines require some explanation.
Traditionally, a "six point" works by finding the high and low points of a given time period and dividing the range into sixths.
It also stretches/shrinks. It is worth noting that the unintuitive strategy of contracting with the larger trend seems better - because during the trend, the price is well beyond the scope of the contraction. This factor is controlled by trendSizeAdjust.
If you set the two new parameters to 0.0, you should get the classic "sixth" gold and green entry points.
The included indicator lets you play around.
2) A completely new concept about quitting losers. If you set "UseDecayingTakeProfit" to true ("Yes" by default), it has a new strategy of a moving "Take Profit Line" that decays further into the loss zone over time. At "HoursToStartDTP" (which represents the number of bars in 1 hour since the opening time), it will open a TP on the center line. It will linearly decay TP over time (affected by changes in the dynamic six-degree line) to reach the closing yellow line via HoursToReachYellowLine (calculated from the opening time, not HoursToStartDTP). It continues to decay further, but these two parameters give the instantaneous slope of the straight line. To clarify, since this is a loss recovery system, the target price for a buy that remains open will continue to decrease over time until the trade is filled. Reverse sale. This means you will gain TP over history, many of which actually have losses. This is normal.
All other transaction management features are turned off by default. Should they open? I have no idea. Please try many different parameters!
Q: Does this have all the features of Steve Hopwood's versions N, N+1, N+2,..., N+117 of The Beast?
A: No, it was split around mid-November.
Q: Does it also have bugs?
A: There are fewer of these, but maybe some new ones. I worked hard to clean up the code (to a certain extent), and the use of LibOrderReliable helped to get more accurate transaction execution (at least in the demo). I haven't seen any major bad trades in over a week.
Q: What’s going on with invisibility?
A: It has been removed to simplify coding. Sorry, this one uses magic numbers and trade comments. If it turns out to be necessary, I'll write a library to do real stealth order manipulation, saving the tickets in a global variable.
Q: What will happen if I enable the <Transaction Management Function> when TP drops?
A: You could tear a hole in the fabric of space-time of our world and allow unspeakable abominations from some other plane of existence to infiltrate. Then you stop thinking about points and find a bunch of scruffy wisecracking guys who happen to be carrying gigawatts of unlicensed particle accelerators in their backpacks. But it can also work well for things like breakeven and jump stops.
Q: What happens if I also turn on recovery?
A: No one knows, but you might make Gozer very, very angry. You don't want this.
Latest update: V0.2.4 - Fixed deletion pending bug, other minor changes.
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