How easy is it to code this indicator into an EA?

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If anyone wants to give this a go i will upload the indicator for you to code. This has strong potential and with a touch of martingale it could be even better. Had good performance on demo. I tried to make this on Molanis but you cant add custom indicators

 
PaulFromToronto:

If anyone wants to give this a go i will upload the indicator for you to code. This has strong potential and with a touch of martingale it could be even better. Had good performance on demo. I tried to make this on Molanis but you cant add custom indicators


How many years and instruments did you Demo it for ? most anything you want to try will work for a while . . . you can get your EA coded for you, go here: MT4 & MT5 coding
 
PaulFromToronto:

If anyone wants to give this a go i will upload the indicator for you to code. This has strong potential and with a touch of martingale it could be even better. Had good performance on demo. I tried to make this on Molanis but you cant add custom indicators


Molanis ?? ...... why don't you trie to learn how to read and write code yourself

Now you have to ask us because you have no clue how to handle this problem

Tip:

Go with your mouse pointing to the arrows on the chart and see if you can read any label of the arrows

If so you can trie if you can find those values with iCustom

If not see in Objectslist if you can find them there

 
Thanks for the quick replies. I have been testing it a coulple of months now with steady profits. I have only been trading 4 months and have had no interest in code until now
 
PaulFromToronto:
Thanks for the quick replies. I have been testing it a coulple of months now with steady profits. I have only been trading 4 months and have had no interest in code until now

Begin with some simple programs to experiment and make use of the Book to see if you can understand the working of the lines of that simple program
 
PaulFromToronto:
Thanks for the quick replies. I have been testing it a coulple of months now with steady profits. I have only been trading 4 months and have had no interest in code until now
What is your average Win vs your average Loss and what is your Win Rate during those couple of months ? you can get all the info just by running a report and checking the figures.
 
Looking at it roughly average loosing trade is around £50, winning is about £100... all on demo of course but due to having to wait a while for the signals to come through you miss out on alot if you're at work or asleep.
 
PaulFromToronto:
Looking at it roughly average loosing trade is around £50, winning is about £100... all on demo of course but due to having to wait a while for the signals to come through you miss out on alot if you're at work or asleep.

Can you run a report for the last 2 months and get the exact figures, the average win and loss is near the bottom of the text part just above the graph, Average profit trade & loss trade and also win rate, its called Profit trades (% of total) on the report.

Of course you don't have to, it's entirely up to you . . . on your chart you suggest a TP of 10 pips and a SL of 20 pips, that is opposite of what you have said your winnings are.

 

Hi Molains,

The amount of profitable trades is meaningless. The only important thing is the mathematical expectation for each trade: poker players call this pot odds.

How much money do you expect to gain from each trade? Regarding the coding, I -and more great coders here- can code it for you, but not for free ;-)

If the entry strategy is strong, you should not have any problem in paying a professional code service -it is like any other investment-

Regarding false signals, most of them can be ruled out using buy/sell stop orders at the high/low of the previous bar.

And two other things:

  • Don't use fixed values for the stoploss, takeprofit and trailing stop. Instead, make the SL, TP and SL baselined to ATR, for example.
    If you can, dont use a take profit. Let the winnings run.
  • Don't use a martingale, you'll end up broke. Use nothing but controlled risk bets.
    However, if the system is VERY solid and the pread is low related to your mathematical expectation, using the Labouchere cancelation system to place bets is feasable.
    Actually, Labouchere broke the bank of several casinos some decades ago playing simple roulette :-)

Cheers and good luck.

 
Hi thanks, yeh i will get a professional to code it, someone who knows what they are doing, so much choice though as to who to choose. I have only been using this on demo for on and off periods and it has been feasable. I agree, the Labouchere is a great strategy, i used to gamble myself quite a bit before i got into forex and found it a decent strategy however didnt really work well @ online casinos. I wish more EA's incoperated the Labouchere into their systems.
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