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Shape indicator trader

The Shape indicator trader uses the Shape indicator. The Shape indicator is a proprietary indicator derived from other indicators and popular candle chart and bar patterns. The Shape indicator has the following elements:

  1. Entry point
  2. Entry time
  3. Exit point
  4. Exit time

The entry point is the middle line which is derived from a number of indicators. The entry time is marked by the color of the Shape indicator. Red means buy, Blue means sell and White means wait, or no trade. The exit point is the top or bottom apex of the Shape indicator. The exit time is the time the apex is reached or breached.

The science behind the Shape indicator is that:

  1. No single indicator is used by traders, especially the big market movers.
  2. The different indicators have an equal impact and create the resistance and support levels.
  3. The higher number of indicators pointing to a similar direction create a higher chance of prices moving in that direction, leading to a high probability trading. The benefit of an EA is that it can quickly analyse multiple indicators at the same time, as opposed to human manual capacity.
  4. Volumes have a significant impact on prices.
  5. The daily trend is normally defined once. Noise and non-directional movements are a sign that the trend is already defined hence inadvisable to trade again for that day.
  6. The more indicators used the better.

The Shape indicator trader has a real time streaming commentary on the left side of the chart. This is derived from the EA logic and picks just a sample of the analysis made by the EA. The commentary explains in summary to the trader what the indicators are saying hence prepare the trader for the kind of trade to expect as well as equip the trader with general forex knowledge which is learnt from many years of experience. This is especially useful if coordinated with live market movement over an extended time.


Timeframe

The M5 timeframe is strongly recommended.


Currency

GBPUSD is strongly recommended. The other major currencies can be traded with caution. It is advisable to perform back tests to determine if trading results and frequency is acceptable.


Risk management

The EA always uses stop loss and take profit from the onset of placing the trade. The average take profit and stop loss levels are between 12 and 30 pips. No scalping is performed. No more than one trade is opened at the same time. No rapid opening or closing of trades is performed. Average holding time of a trade is 1 to 2 hours. No martingale, hedging or grid trading is used as part of risk management.

A small lot size and fixed lot size is recommended as a start and increased over an extended time.

It is recommended to trade one currency for an extended time as opposed to trading many currencies together. If multiple charts are to be used, a unique magic number should be placed for each. It is also recommended to use a VPS and attach the EA once without attaching and re-attaching.


Parameters

  • Fixed lot size (if 'yes' below) - If the option for 'fixed lot' below is 'yes', the EA will trade using fixed lot size defined here. For example, if you put 0.1, the EA will trade 0.1 lots all through.
  • Fixed_lot - There is a drop-down option in which you select 'yes' or 'no'. If you select 'no', the lot size will be defined by the capital in the account based on the setting in the next option below. If you select 'yes', the EA will trade a fixed lot size all through as defined in the immediate option above.
  • Lotsize per additional usd 300(if 'no'above). The EA will divide your account balance by 300 USD. For each 300 USD, a lot size equal to what you define here will be placed. For example, if you define 0.1, and your account balance is 600 USD, the lot size will be 600 divided by 300 multiplied by 0.1 to give 0.2 lots. Similarly, an account balance of 450 USD will be 450 divided by 300 multiplied by 0.1 to give 0.15 lots.
  • Magic number. This number is used by the EA to identify its trades from other trades. This is useful when you insist on placing multiple copies of the EA on multiple charts. In that case, please define a unique magic number for each chart.
Marcus Nyman
550
Marcus Nyman 2018.08.16 20:48 
 

There are some question marks to adress, no doubt.

Some user's are correct to point out the strange backtest results. If you test EURUSD with EURGBP data, you get matched results as with EURUSD data.

But speaking with a bunch of hardcore coders, this could also be a bug in the coding. I think Miriam needs to adress the problem and give a better explaination. It is not enough to say that we should focus on live trading. I want to be able to make a proper backtest

There are also a bunch of other bugs like the re-creaton of new pending orders with the restart of terminal.

Shape indicator trade is profitable though. Made 15% return so far. No need to stop trading with it as long as it performs well

KangaTrev
125
KangaTrev 2018.08.16 14:45 
 

The back tests are fake. Best to read comment #1020 before buying this EA.

You can find the analysis here: https://www.mql5.com/en/market/product/30362#!tab=comments&page=51

Everyone has bought the EA from fake back tests.

Xunxun Liu
445
Xunxun Liu 2018.08.16 11:35 
 

It's better to check the reviews and the real backtest result in the forum, therefore saving your money.

Frank B
1282
Frank B 2018.08.15 22:40 
 

Might be a good idea to browse the comments before using! The backtests are faked. At this time I have no confidence in the EA and the author provides no arguments that convince me otherwise.

The one star is for the faked backtests. It's to early to say something about the profitability. But the fact is, there was no live signal. Everyone has bought the EA because of the fake backtests.

dngale41
29
dngale41 2018.08.15 22:22 
 

Probably the most profitable EA on the MQL5 store despite the small bugs. Might be a good idea to browse the comments before using.

Alexander
151
Alexander 2018.08.14 12:16 
 

Before you're considering buying this EA you should check out my comment 863. It's most likely an EA that was curve-fitted on several pairs via internal presets. If the forward performance from now on proves otherwise I will adjust my rating accordingly.

traderfx13
362
traderfx13 2018.08.10 13:21 
 

Great EA and support. I only traded it for 2 days but already in profit and I like the way the EA handles trading. I will update my experience with this EA in the near future. Best rating so far.

Update: Seems orders are placed at random. On one account I have buys, the other sells (at the same time!). At one broker the diamond is red (buys) on 20 charts and the other blue on 20 charts (sells). Hard to figure out whats going on.. but I lowered the rating until an update to fix some bugs is released. 12 losses today (08-13-2018)..ouch! I hope the development continues and the author stays with the EA.

Update2: The backtests for the EA have been proven beyond doubt that are fake (read in the comments section for the proof). I do not believe that this EA can be used live for longer term.

Saya pann
719
Saya pann 2018.08.10 11:36 
 

Should use EA upon thoroughly read all recommendations and following up as there are small bugs. Overall, that's an EA deserves 5 stars. Will rate it again if performance changes in due course.

kosaka803
191
kosaka803 2018.08.10 10:03 
 

Good performance enough to cover some small bugs.

Jianfeng Yang
174
Jianfeng Yang 2018.08.09 14:41 
 

您好作者 我在使用发现 2个问题

1:回测的挂单规律和实盘有差异 。回测挂单时候不规律,不会像实盘那样每天固定7点挂单 我觉得这样实盘固定时候挂单和回测不一样 肯定是其中一个是错误的 请查询后修正

2:回测的时候挂的单在50分钟内没有开单 他会重新修改挂单 在实盘当中不会改变 只会7点挂单后挂一天 到23点所有订单取消 我觉得应该有一个是错误的 请查询后修正

3现在实盘和回测的胜率做了对比有差异

应该是 是不一样的挂单时候 和 修改挂单 肯定和固定得到的效果是不一样的 请您重视 谢谢

另有时区问题 应该弄个地方配置 要不有的平台会晚几个小时 影响效果

Hello author I am using 2 questions

The law of 1: back test is different from that of real disk. Back test is irregular when the list is not fixed, and I don't fix 7 points every day like the real disk. I think this is a real plate and retest is not the same as one of them is wrong.

2: back in the test of the list in 50 minutes without the opening of the list he will revise the list in the real disk will not change only 7 points to hang one day to 23 points to cancel all orders I think there should be a mistake please inquire after the correction

3. There is a difference in the winning rate between the real offer and the retest

Should be a different hanging form and modify the hanging form affirmative and fixed effect is not the same please attach importance to thank you

There's another time zone problem that you need to find a place to configure. Otherwise, platforms that don't work a few hours later will affect the results.

Yingnan Li
93
Yingnan Li 2018.08.09 04:52 
 

Update: Constant 14 losses today, I have to change the review. (14th Aug 2018) Totally I have gotten loss of $500 from last Friday. Not stable and very dangerous for the people who trust this product. Follow up update based on performance.

aning
1092
aning 2018.08.09 04:40 
 

False testing, writing every day of history into EA, so I changed to one star, and if the author could prove himself right, or confirm it in a month or two, then I changed back to five stars.

Alex
105
Alex 2018.08.08 23:51 
 

Waiting for update, hope that gmt and trade context is busy (too many requests) issues will be fixed.

14.08

Main problems are still not fixed (gmt and trade context is busy)

Klaus Krebs
206
Klaus Krebs 2018.08.08 19:09 
 

Update 10.08.2018

Scoring: 3 Stars

+1 Star: The communication of the author has improved, it looks like an update will actually come within the next 10 - 15 days, which eliminates errors. I'm very glad about that.

If you can believe the author, today is the time to buy this EA. I can not believe it, but there is again a price reduction from $ 1470 to $ 1000. So do not be idiots like us and buy this EA today! For the people who rent this EA, there is a price reduction, which are opened by the author for a day. It is worth it if you rent the EA only, to speak with the author to get a price reduction. If you have friends or acquaintances, let them know. These can buy the EA on this day also with up to 30% discount or maby more.

----------------------------------------

08.08.2018

Scoring: 2 Stars

-1 Star: Handling is extremely difficult. The EA must be operated individually on a separate terminal. Since it is recommended to display 100'000 candles in the chart and a complex chart graphics is used, the EA is very power-consuming on a VPS. The EA should only be started before the Asian session, as otherwise false trades may be triggered.

-1 Star: There are programming errors. It may be that the EA has to be restarted once the Asian session. In order for all trades to be triggered and to prevent the "Context trade is busy" error, the MT4 terminal must be restarted each day between 23:00 and 03:00 GMT + 3. Otherwise, it may be that various trades are not triggered.

-1 Star: the author's pricing is very naughty. The people who have put in the forum a lot of effort to improve the product will be punished with discounts. This is an absolutely no go! But I do not want to question the character of the author, it is just unfriendly.

+2 Star: The EA makes a profit in a 1 week forward test that can be proven with backtests. Overall, one can say that the EA is so far profitable, but the author has to solve many problems for a better rating.

Above all, there is a loss of confidence that the author has caused with their pricing policy. I think the author has to make up for it a bit to restore confidence.

My recommendation, do not buy the EA before the problems are not solved. Even if a discount price is now offered, this could indicate that no update will come, but this semi-finished product just as much profit for the author should throw off.

axel.b
691
axel.b 2018.08.08 17:06 
 

don`t buy it, it`s a SCAM - EA

Jian Pan
428
Jian Pan 2018.08.08 13:22 
 

BAD

Thomas Vogel
203
Thomas Vogel 2018.08.08 09:30 
 

Price of the EA changed like Waether change. Bad Feeling for Buyers with higher Price!

StoppLoss series are will come. Mabye i change the Rating in 1 Month, when enough Trades made.

Andrew Lee
832
Andrew Lee 2018.08.08 09:12 
 

Great EA - yes, there are a few things to sort out, but if the EA is set up correctly it will generate a return. Before you purchase and write a review, reach out to the forum, read the posts, work out the best way to make the EA work, and perhaps run it on a demo account for a few days until you get used to the behavior - as with any EA you purchase. Miriam is great and very responsive to all our requests, and I can't wait for future developments.

mhforex01
1657
mhforex01 2018.08.03 16:14 
 

I use this EA on a live account since 3 days

Very happy with the results applying the advices of the author and Aussie_Trader

3 days is not that much to bring serious feedback

But 5 stars for this promising EA and the patience and support of Miriam

I

Next update in 2 weeks

marco milone
141
marco milone 2018.08.03 15:52 
 

SHAPE is a good id-ea...i wait upgrade!

muracchi
223
muracchi 2018.08.03 14:21 
 

The result of the backtest is wonderful.

Back test using real data inside of MT 4 showed that it is completely different from previous results

Do not believe this back test.

However, it is a fact that it has made a little profit at the present moment. I want to see a little more.

Igor Dervuk
539
Igor Dervuk 2018.08.03 08:19 
 

Прошло 2 недели тестов !

Для меня главным критерием стало : соответствие теста на 99.9% и реальной торговли !

Проверил я лично !

Да есть какие то ошибки ,но это все можно исправить и дополнить со временем !

Да и совет Мириам, не манипулировать стоимостью ЕА , так как многим это не нравиться !

Eric Ruvalcaba
521
Eric Ruvalcaba 2018.08.02 17:25 
 

Amazing Backtests for 15 years with some majors and tough realistic simulation conditions, promising first days of forward results among traders. I have been getting profitable consistent trades on real ECN account and they resemble backtesting, will update once more history is gathered.

parkpoomix
58
parkpoomix 2018.08.01 18:47 
 

Not stable.

Very bad result today.

Giuseppe Cacisi
438
Giuseppe Cacisi 2018.07.30 13:00 
 

today I had 2 exchanges, one on eurusd and one on gpbchf. Both positive. I'll update later

08/08/2018:

Very disappointed by the seller who changed the price at the expense of those who bought EA at $ 1470 / $ 1670

David Castillo
106
David Castillo 2018.07.30 12:36 
 

Backtesting is outstanding!

2018-07-31 VPS Started. Settings: Fixed Lot Size = 0.1, Fixed_Lot = No, Lot Size Per Each 300 = 0.3, Magic Number = 9878

2018-08-03 One trade in back test touched TP while the Real trade touched SL. Maybe Slippage, Broker or VPS service issue. I Hope this condition will improve soon.

2018-08-05 Tickstory Lite Time Shift must be set to: (UTC +2) UTC +2 European/London DST, when exporting data to MT4. In this way Real and Backtesting trades match almost perfectly.

Inna Jermolajeva
687
Inna Jermolajeva 2018.07.30 11:38 
 

Сегодня купила, поддержка хорошая. Поставлю только на одну пару GBP/USD.

If you are trading with a European union broker leverage 1:30, max. auto lot 0.03- 300 usd

Very good strategy and very good EA. I do not understand why there are many crying about the problems with the robot . Everything works fine for me. I didn't found any issues. ( broker ICMarkets and Tickmill, VPS MQL5 )

Sergey Zhuravkov
1358
Sergey Zhuravkov 2018.07.29 20:50 
 

Хороший робот!

Jinglong He
395
Jinglong He 2018.07.29 10:17 
 

Might be a good idea to browse the comments before using! The backtests are faked. At this time I have no confidence in the EA and the author provides no arguments that convince me otherwise.

The one star is for the faked backtests. It's to early to say something about the profitability. But the fact is, there was no live signal. Everyone has bought the EA because of the fake backtests.

cisco11
111
cisco11 2018.07.28 01:32 
 

Very good ea!!!!!

Moses Kuria
78
Moses Kuria 2018.07.22 07:18 
 

Five star live performance. Consistent good performance as supported by live signal and trader statements.

Version 1.3 - 2018.08.14
The following updates and corrections have been made based on buyer requests:

1.The shape indicator(diamond) width is now thinner;
2.The error of color and trade type mix up now corrected;
2.The ea now has a spread filter with trader able to specify maximum under inputs;
3.The trader now has option to turn off real time commentary and graphics on the chart;
4.Trades for different traders should be consistent.Error now amended.
5.Streaming text is moving faster
Version 1.1 - 2018.07.24
Problem of indicator and live stream not being visible during live trading rectified.This was identified by a buyer. This was caused by last minute edit before upload that led to this unexpected problem