If I could get a number of voluteers to test out various settings and post results that would be great.
I am going to try for the coming week.
with and without Timefilter
with and without timefilter
I am going to try multiple currency pairs to see if some might work better than others.
Thanks Nich for all the help improving this "toy" EA. It appears to have some protential. Sometimes, the simple things turn out to really have potential.
I may test it without any posting results in the competition threads like weekly results or any. I may post the reports in this thread only.
But I have one problem: this EA should work with other EA in one Metartader so i must be sure that they will not be interrupt each other (magic numbers or any).
If you are not sure about it so wait for Igorad to come and he is usually fixing these problems so and I am able to test all the settings of one EA using one MetaTrader because of that.
And post EA, pre-set file, time frame and some short description in one post.
Please Rename Thread to FXAnt EA
I was wondering if the thread could be renamed to:
so that we can keep recongnize the tread easier in the future.
I have also found that the H4 timeframe is the most stable with this EA and appears to work during Trending times (as what has been happening with the EURUSD this whole week).
Yes, there are losses as any EA will have, but the key is to reduce down the losses as much as possible.
We need to tweek it some with perhaps MagicEA and perhaps trailing stops and try it with different currency pairs.
What I have found is that some EAs "appear" bad because the settings are not correct with it or they are not used with the proper currency pairs. For instance, if you created an EA that works good during non-trending times (ranging periods) then it may not work well with the EURUSD or GBPUSD which trend better. However, it could work well with EURGBP for instance that tend to range better.
Think about that for a minute. That is why I do believe that EAs like STI have potential but need to find the correct settings and currency pairs.
Did you download the EA here yet?
Yes, I downloaded your modified version then added timefilter as well. I am going to start testing this this weekend. Could you add the following adjustable settings as well:
2. Trailing Stop
3. Slow Scholastic
These are the three that I can think of, maybe some others can think of something else?
Thanks a lot for sharing all of your sound ideas!
Just a thought to not "throw out the newborn with the bath-water" (old Dutch proverb).
I like the very small TP with this EA, and it seems to fit in with the rest of the original code:
The range of the bar has to be at least 10 pips. The Open was below half of that (which gives 6 pips room to the upside). Then we go Long when the Ask is below that. It seems that the filosophy is that with a low Open on a bar the tendency for the bar is to be a "Long" bar (and vice versa for Short).
To take advantage of that we Buy below the Open.
Mind that when you set a larger TP, there is no way you can guarantee that TP within a bar that is (and will remain, due to marketconditions) smaller than 40 pips and we would have to start considering longer term behaviour, with trend/non-trend criteria etc. to make it work (hence the need for i.e. stochastic).
This introduces a whole different set of statistics!
So with this the original idea of the indicator disappears, and the question comes down to the general one of: we start somewhere-anywhere and how to cash in 20 TP? What would then be the advantage to initiate a trade on a bar with the characteristics given by the EA?
BTW a bar is only a bar because your timeframe says so...
Help! Improvement needed
Nich or anyone else. I have been testing this EA so far and it looks pretty good. I was wondering why it only give me like 12 pips TP instead of the 20 pips that I set in there.
I have the following settings for this EA:
Using the following currency pairs:
EURCHF, EURGBP, EURJPY, EURUSD, GBPJPY, BPUUSD, USDCAD, USDCHF, USDJPY, AUDUSD
However, I noticed that it was not giving me my whole 20 pips and it would have been more profitable if it would have done so.
Any clue in the code as to why it only have me 12 pip TP?
By the way, I am using the following version of the EA.
I believe this could very well be a nice profitable system with some easy modifications.
Sorry about that. The spread was messing me up. I figured it out. I just added more on the TP and less on the SL and bingo, got it covered.