I have a Q as a newbee coder.
I am wondering if it is possible to do the following;
1) Signal(1) MA period would signal an entry/exitupon cross of:
2) The Main MA period
3) What was the third MA, (and called the close function), was now "Signal2" and could be set so that if the Signal(1) and the Main were still in original direction, but the Signal(1) and the Signal2 had crossed counter trend, and then at some point if Signal2 crossed Signal(1) again in the direction of the original, that additional lots/entries would/could be entered, there by hopefully adding to the original good trade on what might be a continuation/bounce of the currency?
Does this make sense in the way i've explained it? If i could code it myself i would, i'm a reader and doodler, but a serious newbee at EAs.
thanks in advance for any thoughts/comments.
: ) Thom
You mean that if SignalEMA crossed Exit EMA once again on the direction of the previous order so we may do re-enter?
Yes it may make sense.
It is not difficult to do.
It should be several conditions for sell and buy through "or".
I tried to code according to your suggestion.
I inserted "extern int MaxOrders" (maximum orders at the time). Default is 3. So we may select how many orders we want to have. It works (i checked).
But second codition for open orders (according to your suggection) does not work. I mean that I could not code it.
For example it is for buy (second condition):
So we have the first condition and EA is working well according to this first condition. But I could not insert the second one using "else" or "||". Seems i did some mistake in version #2.
I asked Igorad for help.
Hi ND, yes your example image with your text descriptions is exactly what i was attempting to describe in my post. Looking at your example one could see how locking in the original trades for profit and then getting a nice re-entry signal without the need of the original primary cross taking place might create a few more pips for us.
Thank you once again for your time and efforts here at FXTSD. (And Igorad, thank you too!)
Igorad e-mailed this EA to me.
I explained him everything and he coded the version #2.
I can not check it now as my real time is GMT+3.
So sometimes I am going to sleep
But if you can test it just to find some bugs so it may be good.
r backtest it with any modelling quality with visual mode (just start with visual mode, then click on "pause", then attach all the indicators according to the EA and continuing). It will help to find the bugs.
Greetings ND (and thank you Igorad for your assistance too!). I have downloaded the EA and will begin testing today and report back here.
So sometimes I am going to sleep
I checked and the version #2 works exactly as accrete described.
Will try to optimize the settings to see: may be this version will be more profitable.
I know this is a bit unorthodox but here goes...
I like to trade with what i call Four Dimensional Charts...Let me explain. For instance, I am now looking at a 5m chart. On this chart i have the following:
a 330 ema (this is equal to a 55ema on a 30m chart)
a 78 ema (this is equal to a 13ema on a 30m chart)
( i might also do a forward test using the 55ema of 5m instead of the 78ema)
and then i have a 13ema (13ema on the 5m chart)
I like the 13/55 as i got this out of Tom DeMark's book "New Science of Technical Analysis. I look for the first candle that both the 13 and 55 turn in the same direction (i'm not looking for a cross), but knowing that higher time frames will often rule over the smaller ones, and this EA being set to 15/30/60m charts, i took the 30m chart and did the math and applied the MAs to the 5m chart.
OK what i did today. I placed the 13 as the signal
330 as the main,
and 78 as the close (but again, i might forward test the 55ema also)
So far it is behaving exactly as i had hoped. I have it running on 9pairs and i've had 9 trades close since i began the test after today's NY close. All were in the negative, and i expected this, but they are very small losses, 10pips here, 5 pips there...no biggie. I think of this as a small price to pay for having things ready for hopefully captureing the big moves.
Currently there are 6 trades open from -7 to +9 pips, again, no biggie, as i post it is 14:00ish in Tokyo (07:00ish C.E.T.) so i'm not expecting much action, but it will be interesting to see what this does during the Europe open to NY open when i rise tomorrow for NY open at my 5am Pacific time.
Here is my thought on the EA. I like what i see so far. Now here is something else i believe will create some additional opportunity for us w/this EA, can there be trading to/from hours set up? I'm thinking about setting it to trade from say London open to NY open +2 hours then shut down. Let the trades trade, but not enter any trades during the off hours when the market often consolidates and the MAs go into their spirals.
Please find two versions of this EA with timefilter: EA will open the orders in particular hours only (from ... to). Time is Metatrader server time - different in different broker:
Alpari is GMT+2, North Finance is GMT+3 and so on.
Please enable the necessary setting in your browser, otherwise you will not be able to log in.