Quote from atticus:
I gotta tell you that this looks like sh*t. Bought (or buy to close) before the big drop early on the chart and shorted (or sold to close) early in the huge run-up at the end of the chart.
http://www.traderslaboratory.com/forums/attachments/110/9413-proflogics-method-11252008a.png
I guarantee that this thing does not backtest profitably.
Unless that uses an e-signal database that's not his method, because it only exists as Ninjatrader or Easylanguage Multicharts code. TradersLaboratory doesn't have the database he uses, so that's not it, and, yes, it does test profitably by its own merits even without autostops.
Copy the code and post, please. Multicharts is superior in every way to traderslaboratory so unless there's performance stats that look like what I'm getting then that's not his code or it's not using his data, and if you looked at the manual with his program you'd see that it looks instantly profitable with no other automation required other than performing simple genetic optimizations every month or so.
His program that he distributes to students is probably what was copied there, and, yes, that was probably user error in the optimization because whenever that happens it's usually illogical but the add on has two more indicators to develop the theory with, including strength and trading, so while I do know that it does buy bottoms that is only the student's version, not the professional one, but the student's version is pretty good so that looks like a cherry picked example of bad performance. Can trader's lab do genetic optimizations?
His new program is self-optimizing, and I consider that a quantum leap beyond any 'Add-on' that' has ever been done before because it eliminates user errors such as that trade by formalizing the optimizations into a single, consistent process. The program's strength indicator would probably have prevented buys like this, because the raw indicators are not code designed specifically for strategies, I've only adapted that code into a strategy but find it to be very effective and works on everything in every time frame you're supposed to use it on.
