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> Attached is a simple P&F breakout system designed to run on bar
> charts or tick charts that will eliminate the TS problem Gary
> described. It is accurate and will always repeat.
Thanks, Steve! Interesting piece of work. I've never used P&F
charts so I haven't thought about the programming involved.
I suspect your system is stable because it's based on stops. I don't
think there are any P&F games that can be played with that, as long
as the stop price doesn't fall within the reversal range of the new
bar. When the price is hit, the system reverses, no funny stuff.
The Pi system apparently reverses on the open. If you look at the
backtest, you'll see it reversing on the top/bottom square of a bar.
But, of course, you don't know where that top/bottom square will BE
until the market has already reversed. Since I ran this on a 0.25x3
chart, the market would already have reversed 3 boxes or 0.75pts
before the P&F chart would build a new bar and the system would
signal. And that's where the entry/exit points display when you run
it in realtime.
That 3-box "advantage" on each entry and exit means the backtests are
credited with 1.5*250=$375 per trade that you couldn't get in
realtime. (My RT-vs-BT results show a difference of $4900 on 13 full
trades and two "half trades" -- and $4900/13 is just about $375. I'm
off a hair somewhere but close enough to demonstrate the point.)
I've sent a message to the vendor. Will be interesting to see how he
responds.
Gary
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