Profit Generator EA - page 2

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holyguy7:
I am currently forward testing a new EA that seems to have some potential. I was hoping that everyone on the board here could help with different settings and perameters and perhaps improve on the EA if possible.

I called the EA, "Profit Generator" because I believe that is what is really could be. It is simple in its rules yet powerful as you can see by the results so far. It was previously called FxAnt and is now renamed to Profit Generator after some slight modifications by Nicholishen and myself.

Let's all improve this EA together and find some good settings for it. Improvements that could make it better:

1. Add in Trailing Stop

2. Add in Money Management

3. Add in Hedging

4. Add in additional filter (to verify)

5. Add in adjustable MagicEA

There are probably other improvements that could be made but I am a bit tired right now. Let's work together to improve this EA as I do believe it has some great potential.

Where would hedging come into play here? What do you propose to use as alt filters?

 
Nicholishen:
The code is correct for setting the take profit with the order. Can you check to see that the TP is set when you first open an order? Then, what level is is that TP set (is it correct)? Please verify that this is where the 'bug' is and if it is sending these TP in with order, the problem is your broker.

I figured out why it did not take the take profit correctly. I believe it skipped past them on fast price movement and does not look back. I had the same thing happen to me on the same computer on a stoploss and it just kept its downward trek to lose money.

I have 7 metatrader 4 versions running at the same time on a slow computer and that could be the reason for the missing trades.

 
Nicholishen:
Where would hedging come into play here? What do you propose to use as alt filters?

I am not sure. I was just thinking out loud. Thanks for the improvements. I have been looking at the results and am totally amazed.

Interesting is that after analizing the trades, the only losing currency pairs are the EURUSD and USDCHF. I saw when the trades were executed and I believe that putting the timefilter on those two currency pairs would have solved that problem.

Here are the latest forward testing on the D1 chart. I have added in the presets to all 12 currency pairs that I use. I tend to stay away from currency pairs that either have:

1. Too high of spread (I don't use spreads higher than 5 pips with the exception of the GBPJPY).

2. Are on the same continent with the exception of the USDCAD.

I also like the JPY currency pairs as they tend to move more than the other ones.

 

I also am testing this on the Weekly timeframe with some good results so far. It does not trade as much but is more accurate. I had to manually close both trades as it skipped past the TP.

I increased the TP on the weekly timeframes to 100-140 pips as you are basically doing trend trading at this point. I also increased the Stoploss to 40-50.

It seems to be working fairly well but again, too soon to tell on this timeframe it has only traded a few times so far. Someone might want to try the Monthly timeframe to see if they can make a profit on that one too.

This is crazy but it really seems to work this very simple yet powerful EA.

Let's keep testing different timeframes and settings on this one as I think this is the most profitable EA I have ever seen.

 

Here are my observations on this EA. Please correct me if I am wrong, and I am sure that I will be, at least partly, because I am not an expert in MQ4.

1. This EA works off Bid and Ask Prices. Thus, it sends out orders each time the conditions are met and the number of trades open is less than maxtrades allowable.

2. Suppose we are using daily data. The EA has to check every tick against the daily hi, low and open prices. Change the code to make the hi, low and open be assigned to the daily bar and then we should be able to run it using lower time frame. Anyway, it is going to use the daily data and the bid/ask, so it should not matter.

3. Now if you do 2 above, then you see the results deteriorate, at least did in my case. That I think is because the way MT runs its tests. The bid/ask becomes more accurate in the lower time frames, I think, and the stops are hit faster than profit targets are.

4. In MQ4, the stop and the take profits are sent with the open trade order. Thus, I think the connection speed etc. should not matter. If the stop order is there, then it should be honored. If not, then one should talk to their broker.

Very interesting EA still. Need to be investigated fully

Thanks Holyguy for posting it.

Maji

 
Maji:

Very interesting EA still. Need to be investigated fully

Thanks Holyguy for posting it.

Maji

You can thank Nich as he did most of the work on this EA. I just figured out how to make it profitable. I love the fact that it uses NO indicators and is very simple yet powerful.

As I said before, add the timefilter on the major currency pairs: EURUSD, USDCHF and I believe that it can even be more profitable.

I also like the fact that it has a very LOW stoploss (30-40 pips) so that you are not risking much if the trade does not go your way.

 

i've read this thread but i'm not too clear on exactly how this EA functions..

is there a description of it somewhere?

THANKS!

 

Hi,

Really CRAZY Ea

Good job guys!

 

Hi,

Look at my back test

 

My

Back test was same.

this EA coud lose money.

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