100 pips a day ea...Whats the real strategy ?
looks like if the close price of the current bar on the 5 minute chart is lower than a 7 period SMA of the open price also on the 5 minte chart, it buys and if the reverse happens it sells
- based on the M5 chart
- If no open orders, if bid<SMA(7,open) buy, if Bid>SMA(6,open) sell.
- Does not use magic number so not compatible with any other trades on its chart pair.
- does not adjust for 5 digit brokers.
- not compatable with ECN brokers
- free margin/lot hard coded
i might sound stupid but i have seen numerous strategies where you buy when the price is above a particular MA and vice verse for sell whereas this ea is opposite of all those strategies.how could it be so profitable ? o_0
how could it be so profitable? It's Not. It didn't go past Jan-2010 nor Jan-2009 on my data.
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Hi ev1,
I have found this ea made by metaquotes avalible for free on many websites and forums.There are many versions of this EA such as v3, v3.1,v2.0,etc.None of these versions have anything different except changing the number of lots,changing the number of opened positions,etc.People of the forums are discussing how to change such factors but none of them have told the basic strategy of the EA.Some forums even have more than 20 pages of discussion on this EA but none of them tells the real story.I strongly believe that this EA has great potential and needs just a few tweaks.Its better than thousands of EA which cost hundreds of $$$.Under certain trading conditions,it even generated 600-1000 pips in a single day.What i want to know is that how does it opens trades ? Whats the basic idea of opening trades and managing them ? And many other questions some one might know who has the potential to read the codes of this EA.Therefore,i request anyone who has good experience of MQL4 language to go through this EA and please tell us what is the basic idea of this EA and on what basis does it opens trades.Please reply in detail........Thank you very much in advance :)