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Mechanical Trading Systems Breakout Autotrader (Sierra Chart)


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Mechanical Trading Systems Breakout Autotrader (Sierra Chart)

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  #1 (permalink)
AlphaBetaDelta
Ipswich and England
 
Posts: 16 since Jan 2023
Thanks Given: 2
Thanks Received: 12

Has anyone had an experience with Mechanical Trading Systems Breakout Autotrader?



I want to systematise my breakout trading but I cant code. This study look like it'll let me do that via the custom study settings.

Interested to hear if anyone has any experience with this?

Thanks

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  #2 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Posts: 8,147 since Jan 2013
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AlphaBetaDelta View Post
Has anyone had an experience with Mechanical Trading Systems Breakout Autotrader?
...
I want to systematise my breakout trading but I cant code. This study look like it'll let me do that via the custom study settings.

Interested to hear if anyone has any experience with this?

Thanks

Hi @AlphaBetaDelta,

We don't have any reviews so far of this vendor, "Mechanical Trading Systems", so this thread will be the first. I hope that there are traders reading this who can help you make an informed judgement about them.

I am transferring this thread from "Platforms and Indicators > Sierra Chart" to the "Trading Reviews and Vendors" section, which is a better location for a vendor review.

However, the system imposes a requirement on posts to a vendor review thread that any poster has to have at least 10 prior posts or be an Elite member in order to post there. The reason is to screen out vendors posting favorable reviews for their own products. Unfortunately, this is also going to prevent you from making additional posts in this thread until you have the necessary posting history. I apologize for this, but we feel the posting history requirement is an important safeguard. You can of course still read any replies, and as you make use of the forum you will soon be able to accumulate the posting history you would need to add to the thread. You're already almost there.

I hope that you will receive feedback on this vendor that will make it easier to decide what to do about them.

Thanks for posting this question.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #3 (permalink)
AlphaBetaDelta
Ipswich and England
 
Posts: 16 since Jan 2023
Thanks Given: 2
Thanks Received: 12


I decided to bite the bullet and buy the custom study. It seems pretty new according to the YT vid so unlikely I can get any info from elsewhere and as it seemed to be exactly what I needed I thought why not give it a shot.

From an afternoon of playing around with it, I am not disappointed. Its an awesome study! I was able to get it to reproduce the logic of my system within a matter of hours!

The seller (Rodger) was incredibly helpful and had a long video call with me where he explained how everything worked and helped me see how I could adapt it to accommodate my system. He's even added an additional feature to the study for me.

As I gain more experience in backtesting using Sierra Charts I'll update with my progress.

Its going to be a busy weekend.

Glad I took a punt.

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AlphaBetaDelta
Ipswich and England
 
Posts: 16 since Jan 2023
Thanks Given: 2
Thanks Received: 12

Ive been testing this tool over the past days and am really impressed.

I have been testing an opening range breakout style strategy in ES. I first started with a na´ve strategy that trades the breakout of the 5 minute opening range on every day. It trails a stop and sizes each position to risk 1% of 50k. To my surprise this did pretty well and delivered 32k (approx 60%) net of commissions over 2022 (which was a pretty tough year). Low profit factor and max DD would make this pretty uncomfortable to trade, not for the faint hearted. See first attachment.



I then included a simple filter on the daily chart to only trade if prior day was an indecision day - i.e. open to close range was less 33% of the high to low range.

This improved profit factor significantly and more than halved max DD but at the cost of total profit. Clearly comfort does not equal profit!


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Last Updated on January 24, 2023


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