FuturoFX v2 Is Out 23


Ciao a Tutti,
as we announced last week, there is a new version of FuturoFX available today. We decided to switch the version number from 1 to 2 because this is a major update introducing a brand new feature, the “multi-period”.
The input settings stay the same, with the exception of the “look_back” parameter, which is now a string (and not an integer anymore). With default settings FuturoFX v2 acts exactly like FuturoFX v1. However if you put multiple periods separated by semicolon in the “look_back” field then you’ll see a different textual interface and a different graphical output, like in the picture below:

The graphical output is formed of two horizontal red lines (the “channel”) and of two text labels (the channel’s width and confidence score).

When price is close to or breaks below the lower red line it can be a good opportunity for going long. Viceversa when price is close to or breaks above the upper red line it can be a good opportunity for going short.

It is a couple of weeks that we are testing an Expert Advisor based on this very same concept on a EURUSD M1 chart. The official testing environment on a demo Gallant account started less than 4 days ago and the EA has already banked +195 pips so far and it is flat at the moment.

We hope you can spot great trades with FuturoFX v2 😉


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23 thoughts on “FuturoFX v2 Is Out

  • Layne

    To be clear, are you saying that we can put any time period separated by semi colons in the look_back field? I see that you have a 90 min., 120 min., and a 180 min. period set.
    So these don’t have to be default MT4 periods?

    • Paolo Post author

      Hi Layne, you should put look_back = “15;30;60;90;120;180″ in order to have the same sort of output shown on the chart in this post. These figures are “periods” (number of bars), and not timeframes (like M1, M5, H1, H4, etc.).

  • Joseph

    Hi, does the test EA rules, take into consideration the confidence readings? For eg, take a trade only if the confidence reading is above 50%.

    Thanks

    • Paolo Post author

      Hi Joseph, no at the moment it does not take into account that reading. The only filter is the channel’s width (at least 11 pips).

  • Paul

    Any way you could post the EA’s trade rules, or adapt them fo. Even r us so we ca use them for manual entries/exits? Even just the basic rules its using?

    Thanks,

    Paul

    • Paolo Post author

      Hi Paul,
      We are testing the strategy based on the multi-period feature on the following scenario:

      10 hours starting from the London opening
      EURUSD M1 chart
      main settings:
      look_back = “15;30;60;90;120;180″
      look_forward = 30;
      max_history = 7200
      cor_threshold = 60

      The EA only enters trades on the breakout of a “channel” having width >= delta. Averaging down or pyramiding requires the same rule (breakout of the channel), however the distance from the previous trade must be at least “delta” as well. You can consider from 10 to 15 pips as your delta. The exit rule is price getting close to the opposite line of the channel. Beware when the market is in a strong trend because the strategy may fail. Always use proper money management and risk management.

        • Paolo Post author

          Hi Johan, I’ve experimented different approaches, I think the best one is to have a cumulative stop loss around 75 pips. If this stoploss is hit it usually means that we are in a strong trend environment, so it is better to pause the EA until the next trading session. I’m not using any trailing stop at the moment.

  • Hussein KADIOGLU

    Hi Paolo,

    I was watching GBPJPY this morning.
    I see confidence line repainting several times after hitting it.

    As you said when price is close to or breaks above the upper
    red line it can be a good opportunity for going short.

    As per your suggesting 7 times keep SELLING SHORTs
    eventually hitting lower line.

    Can you please clearly explain and show us charts
    how we suppose to trade with FuturoFX v2.

    Kindest Regards,
    Hussein

    • Paolo Post author

      Hi Hussein,
      FuturoFX v2 does not have a “confidence line”. It shows a couple of lines (which form a channel) and a couple of text labels (the channel’s width and confidence score). It is normal that the channel gets updated at each new incoming bar. Please read my reply to Paul for learning the basic rules of this strategy. Keep in mind we are only testing it on EURUSD at the moment, so I’m not sure how much it can be effective on GBPJPY.

  • Tim

    Hi Guys,

    I found that entering a max-history of 7200 resulted in no channel lines beng drawn on the chart, and Metrader consuming excessive CPU on my PC. Does the indicator typically use alot of CPU when running with a max_history value of 7200?

    Thanks,
    Tim?

    • Paolo Post author

      Hi Tim,
      please make sure your chart actually has at least 7200 bars. If needed you can scroll your chart backward in order to force MT4 load more history. On the Intel Core i3, i5, i7 processors FuturoFX works fine even with the multi-period feature enabled. I have 3 MT4 platforms running FuturoFX multi-period and my CPU has only a peak of activity that lasts 1 second at each new incoming M1 bar. I’m also testing an improved algorithm for correlation that cuts more than 50% of the current CPU load.

  • Raymond

    Hi Paolo,
    Thank for your work on this indicator. Could you update the performance on End of Day strategy? Will trading the new vesion2 be the same way as for the first version? “The strategy requires looking at FuturoFX H1 and H4 charts around 00 GMT each day.”

    Thanks!

    • Paolo Post author

      You are welcome. The most common reason why FuturoFX seems to be not running properly is because there are not enough bars on the chart. If max_history=7200 then the chart should have at least 7200 bars, otherwise FuturoFX won’t work. The easiest way to fix this is to scroll back the chart, thus forcing MT4 to load more historical data from the broker’s server.

    • Paolo Post author

      Hi wank, the default settings work well on H1 charts (you look back 5 days and try to predict 1 day). On the other timeframes similar settings can work fine as well, but you should find the settings that fit best your personal trading style.

  • Frank

    can the original futurofx indicator be used on just one chart(one time frame)?

    Will it be as effective as two time frames?

    I am looking for simplicity!

    Thanks,

    Frank

    • Paolo Post author

      Hi Frank, yes of course. All the features of the v1 are still available in the current version. Thanks for your interest :-)