I have tried loads of my own EA ideas, buying "commercial" EA's, spent thousands of hours analysing indicators all with the net result of losing about £50k. So my simple question is this - Do any of you out there make any money at all from your EA's?
The Number Levels indicator plots the levels of round numbers on the chart, which can be identified as the support and resistance levels.
The indicator implements the ability to set the interval between the round number levels For example, if you set HL1 = 1.00000, and HL2 = 1.05000, then the lines will be drawn every 500 points.
Important! To plot the round number levels for two or more different levels, it is necessary and sufficient to set different names to them in the indicator parameters
Market Profile defines a number of day types that can help the trader to determine market behaviour. A key feature is the Value Area, representing the range of price action where 70% of trading took place. Understanding the Value Area can give traders valuable insight into market direction and establish the higher odds trade. It is an excellent addition to any system you may be using.
Blahtech Limited presents their Market Profile indicator for the MetaTrader community. Inspired by Jim Dalton’s
Three variables are available for every strategy, any one of them can be disabled, their period can be changed.
type_order=ORDER_FILLING _FOK - order filling type.
ReverseTrade=false — trades opens in reverse direction if true. ExitOnBar=true — trades close on each bar only. spreadcover=false — Spread you pay includes in profit trades. It's like trade with zero spread but you should remember that it can decrease exact match between tester's result and live one. It
Active Lines - a powerful professional tool for operations with lines on charts. Active Lines provides a wide range of actions for events when the price crosses lines. For example: notify, open/modify/close a position, place/remove pending orders. With Active Lines you can assign several tasks to one line, for each of which you can set individual trigger conditions, as well as conditions for re-activations and the number of possible activations.
Active Lines helps you easily organize various tr
Cluster analysis of volumes is now available in MetaTrader 5!
The YuСlusters indicator is a professional tool for analyzing the trading volumes. The cluster graph is plotted based on tick data. For the exchange financial instruments these are the volume, type and price of a deal. For the Forex instruments - the real or tick volume (depending on the broker) and Bid price.
There are 6 criteria of cluster generation:
Time interval, the criterion is set in seconds. Price range, the criteri
This is an extended version of OsMA that uses 4 colors (rise, fall above 0; rise, fall below 0). You can use 21 variations of the moving average for each of the straight lines uses, as well as for smoothing the total variance, and 11 price options for "fast" and "slow" MAs.
Moving Average types: Simple Moving Average, Exponential Moving Average, Wilder Exponential Moving Average, Linear Weighted Moving Average, Sine Weighted Moving Average, Triangular Moving Average, Least Square Moving Average
This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With only ONE chart you can read Currency Strength for 28 Forex pairs! Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity?
USER MANUAL: click here
Arrows in sub-window to show strong currency momentum GAP will guide your trading! Warning signs
FULL Automatic is a fully autonomous trading robot for MetaТrader 5 without configurable parameters.
It is similar to SAFE Automatic robot intended for traders having no knowledge of trading basics. It works in Low, Medium, High and Extremal trading modes.
The EA applies modified versions of well-known strategies, including Elliott waves, following a trend, half-pyramiding, scalping, speculative trading with a double deposit protection. The EA switches the strategies automati
This indicator allows you to enjoy the two most popular products for analyzing request volumes and market deals at a favorable price:
Actual Depth of Market Chart Actual Tick Footprint Volume ChartThis product combines the power of both indicators and is provided as a single file.
The functionality of Actual COMBO Depth of Market AND Tick Volume Chart is fully identical to the original indicators. You will enjoy the power of these two products combined into the single super-indicator!
PipTick VSA is based on the original Volume Spread Analysis method. It was designed for quick and easy recognition of VSA patterns. Even though this indicator looks very simple, it is the most sophisticated tool that we've ever made. PipTick VSA indicator is a really powerful analytical tool that generates very reliable trading signals. Because it is very user friendly and understandable, it is suitable for every type of trader, regardless of his experience.
What is VSA?
VSA - Volume Spread An
This is an unusual (visual) representation of the famous WPR indicator. Instead of a separate subwindow, it is displayed in the main chart as a channel and levels.
The next version of the indicator will have a possibility of smoothing its values using a moving average.
PeriodWPR - calculation period of the percent price channel LevelUp - the value of the upper level in percentage (negative) LevelDn - the value of the lower level in percentage (negative) Center - the value of t
Fast Copy MT5 allows you to copy trades between different MetaTrader 5 (netting)(hedge) and MetaTrader 4 accounts in any direction and amount, quickly and easily (without loading the system).
Any type of copying is available
MT4 → MT5 MT4 → MT4 MT5 → MT5 MT5 → MT4
* For the MetaTrader 4 terminal — Fast Copy MT4
* For the MetaTrader 5 terminal — Fast Copy MT5
** Before the purchase, you can test the program by downloading the free demo versions — Fast
Trade in the opposite directions with HedgeTerminal
HedgeTerminal is a full-featured trading terminal inside MetaTrader 5. This is a graphic panel resembling MetaTrader 4 terminal. It allows you to track oppositely directed positions in the manner it is possible in MetaTrader 4. In other words, we can open unlimited number of positions on a single symbol even if positions are in complete or partial hedge (lock). Thus, you can maintain long and short positions simultaneously, which is impossible
Veno EA MT5 is a safe and fully automated medium-term trading robot.
The EA does NOT use hedging, martingale, grid strategies, arbitrage, etc.
Veno Expert System MT5 automatically monitors the appearance of participants with distinct preference towards buying or selling on the market. Trades are conducted on sharp cluster and news based movements of the market. The robot analyzes the market volumes and volatility, and follows strong supply and demand movements. It smoothly sets breakeven level
Auto Trade Copier is designed to copy trades between multi MetaTrader 5 accounts/terminals with 100% accuracy.
With this tool, you can act as either a provider (source) or a receiver (destination). All trading actions will be copied from the provider to the receiver with no delay.
Note: Demo version for testing can be downloaded at: https://www.mql5.com/en/market/product/5006.
Followings are highlight features:
Switch between Provider or Receiver role within one tool.One provider can copy tr
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
The economic calendar is made in the form of an Expert Advisor that downloads the data from one of the most popular Forex sites (forexfactory.com/calendar.php). The data is presented in two ways. The first (primary) is represented as icons with detailed information about the event. The second is displayed as a line with a news description. Economic Calendar downloads published news in real mode with the possibility to adjust the spacing of data validation and user-friendly customizable graphical
The indicator is based on the comparison of the correlation of trading instruments following an original algorithm. It determines the difference between correlated contracts (delta). The greater the difference, the more it is likely that this Delta will return to zero.
More suited to the FORTS market.
The greater the deviation from zero, the more it is likely that the price will return to zero. Also, the indicator divergence can be applied by comparing highs and lows.
The indicator has standard settings. The new modification of indicator provides special marking of the segment when the moving averages begin to form a cross in one direction or another. The Alligator`s cross indicates that the trend is about to change. Modified Alligator helps traders to determine a trend on a particular timeframe even if the averages are intertwined and have a shift in the future. Direction of a trend is determined by a cross of the averages with a specified marking area on th
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
FXG_Info – the most important data in one place.
MetaTrader 5 Indicator FXG_Info provides basic statistical information about a particular currency pair. So that in combination with a chart representing currency price it is easy to determine whether the current situation is good for trading. And when you open a position it will clearly show you the current data such as SL, TP, RR. You are not limited to currency. You can use any market which is provided by you broker.
The following information
The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on
This software has no equals in the world and represents a universal trade "console" covering trading signals, automated market entry, setting of Stop Loss and Take Profit, as well as Trailing Profit for multiple trades at the same time in a single open window. Intuitive control of the Expert Advisor in "three clicks" ensures a comprehensive use of all its functions on different computers, including tablets PCs.
Interacting with additional signal indicators that mark the chart to give a real mar
Tick volume is equal to amount of ticks at the unit of time. There is direct correlation between tick volume and real amount of deals. Every change of the price is a result of a real request to perform a deal. Consequently, fewer requests we have, the less price changes we get, and, as a consequence, tick volume is smaller.
In this case, when big amount of requests appear on the market, price changes happen more often. Big tick volume appears. Tick volume is an important indicator of trad
Sideways Alert Indicator is a very effective tool to indicate sideways conditions on live charts and to determine its levels. It helps us trade within the range or trade the breakout or just simply to filter out sideways market conditions.
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The robot does not trade at night from 10 p.m. to 4 a.m. (server time).
The robot was tested in the special tester on real ticks. Empirical e
This is the Famous Timing Indicator
You can now use the most famous Timing indicator on the planet.
Millionaire Mostafa Belkhayate earned his reputation by using this specific indicator to validate the entry signals supplied by his also famous Center of Gravity indicator on the Forex market. I spent hours, days, weeks to decrypt the formula and now it is finally available to you.
New and Unique for MetaTrader 5
Timing will give you perfect validations for your entry signals. It is the first
Envelopes or channel lines are set parallel to the Moving Average (to the slow MA if you use two MAs). The two channel lines must contain approximately 95% of all prices for the past two or three months on a daily chart, with only the extremes protruding outside. Channel lines provide attractive profit targets - sell longs near the upper line and cover shorts near the lower line.
The AutoEnvelope is a custom indicator - an original tool that automatically selects channels width by calculating a
All traders using VSA realize the importance of the volume. Unfortunately, tick and spot volumes are not suitable for these purposes.
I have conducted mathematical calculations and managed to trnsform the price into the volume that is close to the futures one by its ratios. Now, you do not have to wrestle with the question of where to obtain the volume data. Besides, you will be able to use the currency pairs having no futures at all. With RealVolume, you do not need to remember data on each ti
The indicator displays economic news on the currency chart (the appropriate data must be downloaded from the Internet - please see the download instructions on the screenshots provided). The list of currencies (countries) is customizable. By default it shows all currencies. The main parameters come with a built-in description. In addition, there are parameters for advanced users. News items are divided into 3 categories by degree of importance. There is a great flexibility in display parameter s
hi, here is my 0.02
As a rule of thumb you can accept that if anybody would have a strategy that works __for sure__ and delivers say >10% of gain/month, he would be foolish to sell it as he would kill the cash cow. (every strategy degrades if there is too large amount of capital behind it).
If I would have a strategy that brings a couple of pcnts/month, I would be happy to sell it because revenue from selling would exceed profits of running the EA on my capital and I would not mind that the strategy will degrade if too much capital accumulates behind it because it would hurt others, not me... (you can infer that a real working strategy that is sold will be guaranteed to not work sooner-or later if sold to enough ppl - this all applies to technical analysis EAs. If there would be some EA that does fundamental analysis, that could work, but I doubt there is such, it is difficult even for investors..)
Just to give you some examples how some strategy sellers usually try to scam customers:
- it is relatively easy to build a strategy that is by high probability successful on the short term. For example the well known exponential method:
1) bet on a stock/fx/anything with quantity of 1 that has a target price of usd1 profit and a sl of usd1 loss
2) if you hit the SL, double the quantity (so tp/sl will give you +-2 usds) and go back to 1). If you win, go back to 1) with quantity of 1.
assuming that the chances of hitting the sl and the tp are both 1/2, you have a chance of 1/1024 to hit 10 SLs in a row, so if you start the portfolio with enough capital to cover this scenarion, you will have a perfectly linear portfolio gain, with not more than 10 SL deep dips... Until you are unfortunate enough to run into a 11 in a row SL (1/2048), where the dip would be 2x deeper than for a 10 long SL row, so it will possibly kick your account into negative.. Before this event the portfolio would show mor or less steady gowth, specifically (if you calculate it), it guarantees a 1 USD profit for every round of sl-sl-sl-sl-tp, so on average, your portfolio will rise by 2048 USDs before hitting the 11 SL in a row scenario. The loss of this 11 SL is: 1+2+4+8+16+32+64+128+256+512+1024+2048=4095=2048+2047, so it would bring down your profit to -2047... I frequently see advertised EAs with steady growth then going to steady ----- in a quick move. Those are probably similar scams...
you can then create lets say 10 of these strategies and run them in parallel, wait for a month and start selling the best looking one as an impressive strategy with real performance charts and throw the other 9 away...
you can see that it is quite easy to scam ..
- another popular method is to keep the negative trades open, thus accumulating a large floating loss. This is useful because there are sites where the performance graphs only show the balance, ths flating losses are not included...
There are other ways to scam others with strategies, I don't want to give ideas. The mos simple one is to create a website with false claims and sell it with money back guarantee...
How you could avoid being scammed: look for strategies that have a long verified history (long: both time and trades), look for suspicious spikes in the graph, if the trading history is available, look for doubling, tripling lots/sl/tp values. Look for floating losses! Look for 3rd party verification graphs where the equity (balance +- losses/wins) is also charted and where the equity curve is shown between trades, too, not only at the time of trades (an MT4 backtest fails this requirement). Ask the strategy provider to explain how they are handling risk management.. (of corse they can lie)
All the above does not mean that there could be no successful EAs, as there are. I am running my own (which is so far ok), but I am aware of the risks. You should not just buy and blindly trust a black box ea, you should be aware of the working internals, the risks, so look for free (or at least open source) eas and try to build your own from those. That is the way to success. You have to do market analysis before you try to make an EA. Newer believe a strategy that was developed on a backtest and was not forward tested (except for special cases where you can know for sure the max loss and take the risk).
I think you know a lot about scams, I don't know from which side ;-)
Can you explain why "every strategy degrades if there is too large amount of capital behind it" ? It's not obvious, though I have often heard this kind of reasoning.
Martingale method which you describe is not necessarily scam. It's very risky, but if customer known what he buy and what he do, that can be profitable to SHORT term.
To answer the main question, I think it is quite possible to have a robot that is profitable in the short term (a few months). By cons in the long term I do not know, probably by modifying it regularly, then yes, if not maybe.
Anyway I don't think you can earn money on forex if you can't trade manually and understand all the ins and outs.
I don't think I am on the wrong side, as I encouraged him not to blindly buy anything, instead of look t freely available things and put something together on his own :)
The schemes explained are not scams by default, but when you sell a strategy claiming constant profits etc, without mentioning that it is a roulette strategy, well, that is scam. By the way, I would not use the mentioned exponential strategy even for the short term, there is no guarantee that there wont be an 11 in a row SL hit until trade 2048. That is only the expected value... You can be bankrupt with the first 11 trade if you are not lucky..
Why will every strategy (except for fundamental investment) will fail if there is too much capital? It is easy. In every strategy you will have to buy and sell positions. It is a market, so price moves on demand... If you are trying to sell 1000 lots in one trade, slippage is guaranteed and will be high. The idea behind the statement is that if there were a well known strategy which works and is used by many ppl, the capital behind it would grow to such high levels that it would change the market by itself. When the strategy would say buy, the market would rise (temporarily) so only the early birds profit (that is why ppl want the fastest execution possible). If there were such a strategy, the optimal strategy would be to buy the stock minutes before the signal and sell them to the strategy users who drive up the market... Actually there is a scam schame that builds on this: probably you have heard of email stock pick scams.. The recipie:
grab a couple of 1000 emails, on the first day send one half that a penny stock will go up, the other half that it will go down. If the stock went up, repeat the procedure with the email adresses that were in the "up" group. repeat this a couple of times. If you started with 1000000 email addresses, after 10 trades you will have 1000 users that think you are giving them the perfect strategy (remember, you told them where the stocks will move in advance.. you have also told that to other 999000 ppl and you were wrong but that 1000 see as if you were right)... Next pick a low volume penny stock, buy yourself in, announce in a mail to the 1000 users that you will soon have the greatest pick of all times, make them prepare. Then announce the stock, they will drive the price up, and you sell the stocks on the high... Here you see how the publicly known "optimal strategy" can be exploited for arbitrage.
By the way I think your last statement is not valid. I have only lost money while trading because of my emotional nature. I have managed to recover my losses by turning my trading ideas to an EA and running it. I encourage everyone who have good insights but can't trade by nature to do this (as long as you can clearly define ho your strategy would look like). But always lay the foundations of your ea on some fundamental basis, and frequently review wether your assumptions still hold or not (like yen weakening ). And yes, strategies, parameters, everything need frequent review. Machine learning probably could be used to keep EA's profitable but i am not an expert. I would appreciate any hints on this topic, where to look, where to start at. In theory this is what signal providers are supposed to do but when you look at most of the strategies on different sites, you will see that there are a few which is successful on the long term, yet you will see 100s of filed strats popping up daily. This makes me wonder how long the goods will last.. So be suspicious, but also remember that there can be profitable public strategies but not in the 10%/mo range on the long run (actually there can be as long as noone knows about it, only you : ).
My question does not specifically refer to commercial EA's, but to EA's in general. Has anyone ever built an EA themselves that is profitable because after such a long time of trying I have not been able to do so.
Yes, it is possible, as I said I have mine so I am speaking from experience. The only reason I dare to run it on a live account is that it a no loss strategy (what a funny name) that relies on a strong market distortion and I can precisely calculate the max loss if the assumption breaks (yes a no loss strategy can lose and when it loses,it loses big) which is about 3-4 month's yield and I expect the underlying market distortion to last for more than 3-4 months. If this assumption will hold, the risk/reward ratio will fall to 0 after a couple of months of starting the EA. But as you see, there is an assumption here, that some specific market conditions wont change. This strat would have worked for > 1 year, unfortunately I started to use only 2 months ago and I already had to adjust some parameters 2 times (because of some market condition changes). I will be very upset if the underlying market condition will change because so far this is the only profitabe EA I was able to make...
So the basics: look for market distortions, analyze the strength and likely timeframe of the distortion, build test EA, investigate probable profit, limit max losses to something that i smaller than the probable yield during expected lifetime of the arbitrage opportunity. I think that to be successful, developers should form small closed groups (virtual trader roooms) and develop their own eas without sharing with the outside world. If you know any such closed community I would happily join, too.
Remember: You have to watch your EA, there is no EA that will work for every market condition.
It sounds like you are simply using a very large risk and small reward which will inherently give a large win rate . . . but if the WR is simply a function of the R:R then it will also lose just the same way a coin toss does, it will just give you more winning trades while you wait for the infrequent but very large losing trade to come along.
Does your strategy lie on this curve ?
Yes...Brokers and Banks :)
I never recommend to use other's indicators. Instead I developed my own for my own use. The advantage is that I know how it works and which indications are trade-able. Here is one snapshot of latest SILVER chart for you. Of course, it makes money for me.
Hey mpeter : That is a great idea to form a private virtual group. Great way of sharing ideas and code where people can help take one another to the next level. Thus far I have been working by myself which is probably the reason for my dismal success rate. Though I am able to do most of the coding myself, collaboration would more likely bring a better success rate. I certainly would be willing to try this out. We can create a private forum, tabulate a bunch of ideas, narrow down to ones that people think are most promising. Then people go off and try out a bunch of strategies themselves and share results.
My day job is in engineering and I have long recognised that the more ideas I bounce off people out there, the more feedback I receive that can mutually take us all to success.
Your indicator looks great, and yes I think you are on the right track by creating your own custom indicator. Its easier to know what to tweak and also a great feeling to know that you developed it yourself.