PRT Automated trading - issues and suggestions
Joined 25/03/23 10:02
Charting the Markets: 24 March The FTSE 100, DAX 40 and Nasdaq 100 slide on renewed banking woes while EUR/USD, EUR/GBP and GBP/USD drop as the US dollar, gold appreciate due to flight-to-quality flows. Crude oil and copper tumble on recession fears. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 24 March 2023 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
By DominicWalsh · PostedMarket Breakdown | WTI Oil, EURUSD, GBPNZD, EURAUDHere are the updates & outlook for multiple instruments in my watchlist.1️⃣ WTI Oil daily time frame️The market is trading in a long term bearish trend .After the last sharp bearish movement, the market is steadily recovering.Ahead, I see a major horizontal supply area.Probabilities are high, that the next bearish wave will initiate from there.2️⃣ EURUSD daily time frameAfter a breakout of a solid daily resistance, the market is preparing for its retest.Watch carefully the underlined zone and look for buying opportunities from there.3️⃣ EURAUD weekly time frameThe pair is currently approaching a weekly horizontal resistance cluster.Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that4️⃣ GBPNZD daily time frameThe pair is currently retesting a broken neckline of an ascending triangle . As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now.Chances will be high that the next bullish wave will initiate quite soon.For Additional confirmation use: Divergence Indicators
By DominicWalsh · Posted#CHFJPY: Classic Bearish Setup 🇨🇭🇯🇵 🔻CHFJPY has nicely respected a confluence zone based on a horizontal 4H resistance and a 0.5 retracement of the last bearish impulse. The price formed a double top pattern on that and broke its neckline. Probabilities will be high that the pair will drop lower soon. Goals: 141.172 / 140.363
Some issues that I have picked up with PRT's automated trading module (ProOrder), and some suggestions:
* Probably the biggest issue is that the backtesting (Probacktest) and automated trading modules (ProOrder) do not behave the same. So, if you get great results with your backtest, don't get too excited, as the automation of this will most likely produce vastly different results. Some of the differences include:
-Pro order will trigger on the open of the next candle after the condition has been met but Pro back test will register the trigger of the trade on the close of the same candle the condition was met.
- Pro Back test cannot determine will your stop or limit will be triggered first if both would've been triggered in a specific candle. In this situation Pro back test will show the trade as if the Limit was triggered first. There is no setting yet to change which of the stop or limit will take priority when this happens but Pro real time is doing development to improve this feature.
- Pro back test will calculate the results using a step of 1 for the trailing stop and this value cannot be changed when testing. Pro Order will execute the step of the trailing stop by using the minimum allowed step distance of the particular market. To determine what the minimum step distance for a trailing stop on a market would be you can open a deal ticket on the IG platform and tick the trailing stop box and the step field will appear indicating the minimum value.
* ProOrder allows you to view the performance of your system while it is executing. This is great! Especially seeing as Probacktest behaves differently. But, there are some problems and shortcomings:
- You can add indicators to the price section of the chart, but not as a separate section underneath!? This is great for displaying PRT or custom indicators that you use as part of your strategy that can be plotted on the price section, but not so great for others that are normally displayed underneath (e.g. MACD, RSI, etc).
- Any indicators that you add will not be there the next time you open the window to display performace again! Common guys! What is the point of being able to add these indicators in the first place? This is especially problematic if you have your own indicators that need a lot of changes to its display properties (line styles, width, etc). It takes a huge amount of time to redo this every time for every system (if ProOrder and ProBacktest behaved the same, this would not have been that necessary, or that big an issue).
- Resizing! The view performance window allows you to resize the sections. But, again, if you reopen it, the sections are back to their original sizes. Why do the equity curve and positions sections have to take up so much space? I am more interested in the price section. This same issue applies to Probacktest also.
That's it for now!
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