Trend following EA
Nice EA!..
I downloaded this EA on 7/26/07 & put it on a demo account (ibfx). Here are my results to date:
GBPUSD 7/26/07 SELL @2.0487 - trade stopped out at +90
GBPCHF 7/26/07 BUY @ 2.4908 - trade stopped out at -120
GBPCHF 7/27/07 SELL @2.4658 - trade stopped out at +59
GBPCHF 7/27/07 SELL @2.4616 - trade stopped out at +1
GBPJPY 7/26/07 SELL @243.89 - trade stopped out at +33
GBPJPY 7/27/07 SELL @241.22 - trade stopped out at +36
GBPJPY 7/27/07 SELL @243.59 - T/P MET +160
GBPJPY 7/27/07 SELL @242.30 - T/P MET +160
GBPJPY 7/27/07 SELL @247.07 - T/P MET +160
total closed trades in 2 days on the 3 pairs was 579 pips!
EURUSD - 7/27/07 SELL @1.3700 - trade still open +60
USDCHF - 7/27/07 SELL @2.2042 - trade still open -48
my settings are:
PROFIT = 160
TRAILING STOP = 40
STOP LOSS = 120
I'll post my results weekly here, if anyone else is testing we should compare results if using other settings.
Timeframe?
Hello,
looks promising. I'll do some forward testing on a live account.
What timeframe I have to put the EA on?
ea gets in very nicely...Are you sure a 1 hour trend will be large enough? I may try 4 hour as a filter.. I don't like to trade against 4 hour.
How is it going with it?
. What timeframe I have to put the EA on?
Anybody tell me what time I have to put the chart on?
5M, H1...any idea?
I dropped on 4 hour but I dont think its operating properly as the trend is set up at 16/60
It does confirm a very good ema get in up to the 1 hour with minimal chop which I like...but I will need to add a 4 hour trend as I think without a standard get out that limiting trend to 1 hour direction will leave you very poor --- I pity anyone trading against a 4 hour trend. I really like the ea as it does not open in choppy stuff so it has good potential.
Results
Hi, It's Bob here (creator of this EA). Ive been away so no recent results to post.
SuzanneFX, can you confirm wihch TimeFrame you used for your results and any other settings you used.
I intended it to be used on M5 TF. Even though attached to M5 it looks as M5, M15, M30 and H1 and all foue have to be aligned in trend direction before a trade is entered. M5 is used only for the entry. For example - M5, M15, M30 and H1 all confirm a down trend. On cross downwards on EMA3 and EMA5 a trade will be entered. The idea is to enter in the direction of movement based on the shortest timeframe. I hope that this helps.
I will resume my own testing next week and post my results weekly.
Bob.
All followers of this thread. Let's work together to improve this EA.
Exit criteria
Using the alignment of an up or down trend across 4 different timeframes an dthen using a short timeframe as an entry trigger is a good entry for this EA (IMO) however where I think it needs further development is in how and when it exits.
This is something that I did not crack during my initial development and testing.
Any ideas?
Hi All...
I have this EA loaded on the 4hr chart... see results posted in the attached file.
I think my settings are the default...
TakeProfit 160
TrailingStop 40
StopLoss 120
UseStopLoss True
ShortEMA 3
LongEMA 5
TrendEMA 50
immediatetrade False
I also did very well. The only problem is that there will be a few losers
because typcally the trend kicks in on about a 38% retracment on the 4 hour which is risky to be around. ...I had 10 for 10 winners but a few had a low profit and it was basically this 4 hour issue.
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I'd like to open up my latest development idea to other members of the forum.
I started out with a simple EMA Cross EA and started chopping and changing it. What I now have is an EA that checks the current trend my confirming up or down trend against M5, M15, M30 and H1 timeframes. When al four TF confirm an up or down trend I use an EMA Cross on the M5 timeframe as an entry trigger.
Example: Uptrend confirmed on GBPUSD 2007/07/24 00:20 (Alpari time). Entered long on a cross up of a short and faster EMA Cross. Trade closed out manually for 47 pips 9 hours later.
I think the entry signal is strong (4 TF confirm trend and then enter on an EMA Cross).
Maybe other members could help to refine the trend identification method, optimise the T/P and S/L for different symbols, optimise the EMA values, improve exit criteria, ...
27.July.2007
Since making this post I have taken this method and combined it the Terminator EA as a new option for OpenOrdersBasedOn
Today's results Cable - 68 pips; USDCAD - 34 pips; GBPJPY - 68 pips; AUDUSD - 34 pips.