Profit Generator EA - page 17
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How do you run the expert on multiple timeframes on the same pair? Won't it still only do one trade per pair at a time? I'm thinking of running this on M30, H1, H4, and D1 on all the major pairs. I've just started running this yesterday on D1 and it's not doing so good, but from what I hear H1 and M30 did good today? If so that would've made up for the loss from D1. Hopefully there won't be a day where all 4 of the timeframes are losing days.
No, it will trade on different TF,same pair. This is because of the MAGIC number. If you only use 1Tf per pair (eg EURUSD M15,M30...)you won't have to do anything. Thanks to Jo, V2.7 automatically adds the TF to a base number to create a unique magic id. If you want to do more than one test per TF per Pair you will simply need to change the base number. I hope that helps.
Delsule,
Can you please mail me this EA and what are setting, I mean TF and other ?
Thanks in advanceHello,
Settings are: TF 30 min, TP 6 , SL 20 and allowing to trade 3 trades per pair.
I changed the gbpusd pair tp back to 6. It was 8 before. Running on 4 majors.
The ea was posted in post #161.
Does anyone know how to make the code for the following:
Sorry about my english but its a second language:
When you have a closed BUY position resulted from its T/P, how do you code to make a checking/verification process of the last transaction with the present ASK price and void the next Buy action if the present ASK price is higher than the previous closed BUY transaction using its T/P as a reference comparison to the Ask price?
The existing BUY/SELL selection detail:
When the BUY action is initiated, it stays that way regardless if you closed down how many previous transactions. The only time it will make a Sell action is when the trend is in the BEARISH direction, and the same with that direction mention earlier.
Any help is appreciated thanx, still learning how to program this MT4...
The additions to this ea were not to it's trading algorithm. They are just add on modules to give the tester more options. v2.6.3 operates just the same as v1, until you change the settings. The only difference is the ability to trade on lower TF. For those experiencing different results with the same settings and different versions, are experiencing the differences in broker feeds and probabilities. Starting the same version, same pair/tf,same broker, but at different times can yield different results.
I agree with Nich, you can get all the results of the first version in the last version by just leaving out the bells and whistles. I appear to be having some success with this EA on lower timeframes by increasing the Longbar. I believe we all need to focus on this rather than copying somebody else's good results (for the day).
I was having trouble with the majors on this EA. I am glad that there has been some success with it. Folks, start thinking differently and we might find winning combinations. That is why I posted this EA in the first place, I wanted us all to test out different things.
Statement
I think I have to change some settings and drop some pairs (alle H1 and default settings)
EDIT
I think I made a mistake. Saw Longbar was 10. For the TF=H1 it should have been at least 15. Ok, changed it. Forget my Statement.
Tests results on lower timeframes
Hi, here are my results on lower timeframes.
sure parameters were not optimum but none gave me an idea so i have improvised.
I tested EURUSD, USDCHF, GBPUSD, USDJPY and EURJPY
I took same settings for each pair:
TimeFrame LongBar SL TP
M1 5 10 20
M5 8 15 25
M15 8 20 30
H1 10 25 35
H4 10 30 40
Results: nothing, allmost bad trades from 1:00 till now.
M1: 0 / 8 good trades
M5: 2 / 16
M15: 7/19
H1: 3/12
H4: 4/9 -> +6 pips
The only thing I see right now (I have just get the results) is that % of good trades grows with timeframe.
Version and settings??
Hi, here are my results on lower timeframes.
sure parameters were not optimum but none gave me an idea so i have improvised.
I tested EURUSD, USDCHF, GBPUSD, USDJPY and EURJPY
I took same settings for each pair:
TimeFrame LongBar SL TP
M1 5 10 20
M5 8 15 25
M15 8 20 30
H1 10 25 35
H4 10 30 40
Results: nothing, allmost bad trades from 1:00 till now.
M1: 0 / 8 good trades
M5: 2 / 16
M15: 7/19
H1: 3/12
H4: 4/9 -> +6 pips
The only thing I see right now (I have just get the results) is that % of good trades grows with timeframe.Please supply your settings to the PG. What version do you use? Thanks
Roets
Guide to Successfully Testing EAs
Rules when Testing different settings:
Here are some general rules when I test, I hope this will help you.
1. Use All Currency pairs available. The reason for that is that if you only select a few and they bomb out you really don't know if that setting would work on other currency pairs that you did not try. I know it is nice when you have a demo account make money. It feels good, but it is better to have a demo account lose money and learn that there are perhaps a currency pair or two that would have worked good on that setting. Then, after a few day to a week you can disregard the currency pairs that lost money for you and keep testing the good ones.
2. Don't be afraid at failure. You will never succeed without failures. Remember, we are only testing here so be risky and try things that you might not have thought of.
3. Install and Setup multiple Metatrader 4 programs on the same computer. I normally have 4-6 on each computer I am using. I usually install them in the following directory like this:
C:\Program Files\MetaTrader 4a
C:\Program Files\MetaTrader 4b
C:\Program Files\MetaTrader 4c
You get the idea. I add shortcuts to the Metatrader 4 version with the folder on my desktop. It works great. Then you can try out many different timeframes with settings at the same time. Metatrader does not use up much memory (RAM) so it work well on computers that may not have a lot of it.
4. Study both the successful and failed trades. Look to see if perhaps you had the Take Profit too high or the Slop Loss too low. Perhaps you realized that you could lower the stoploss to reduce the downside or that you can safely increase the Take Profit and get more profit potentially. Look at the failed trades as a learning opportunity and the winning trades the same way.
Here is what I have learned works (profitable) so far with this week with Profit Generator EA:
USDCHF- D1- SL30- TP40- Timefilter on
EURCAD- H1- SL30- TP40- Timefilter on- Longbar 15
EURJPY- H1- SL30- TP60- Longbar 15
GBPUSD- H1- SL30- TP40- Timefilter on- Longbar 15
GBPJPY- M15- SL30- TP60- Longbar 20
EURJPY- M15- SL30- TP60- Longbar 20
GBPUSD- M15- SL30- TP40- Longbar 20
I also did extensive backtesting with the EURUSD pair (90% modeling) and found the following to be the most profitable setting:
EURUSD- H4- SL50- TP40- Timefilter on- Longbar 16
Well, if we can get others to do backtesting on the other currency pairs and forward testing as I have done, let's all work together and see what else we can find out. We need to back and forward test every currency pair because I believe the key to success in this EA is the getting profitable settings on all currency pairs and then letting the profits role in.
Version Issues
The additions to this ea were not to it's trading algorithm. They are just add on modules to give the tester more options. v2.6.3 operates just the same as v1, until you change the settings. The only difference is the ability to trade on lower TF. For those experiencing different results with the same settings and different versions, are experiencing the differences in broker feeds and probabilities. Starting the same version, same pair/tf,same broker, but at different times can yield different results.