Here's one of mine that I like a lot. It's a very SIMPLE strategy. EMA Crossovers. I've tried heaps of others out there on the internet, but this one is a little better.
I never coded this but paid to have it done, but I'm not 100% happy with it, though it does have HUGE potential if a few tweaks as decribed below are made to it.
What it does, it's basically a S-A-R, Stop and Reverse.
Uses two EMA's, EMAFast, EMASlow, as the two cross over, it'll either buy or sell the trade... when it was coded we had in mind that TP's and SL's and TS's weren't needed due to the STOP-CLOSE-BUY/STOP-CLOSE-SELL function to it.
It also has a time delay before it opens the trade too.
I would say it's more suited towards 1hr charts. It does work with the smaller and larger time frames, but as I say, it needs tweaking.
The tweaks that it really, really needs, is Trail Stops, Take profit, and a SL.
Now, if these are configured corrrectly, you could be looking at around 300-1000 pips+ per month.
This EA will ONLY open 1 trade at any one time. But what it can't do is work with more than one currency pair.
Would anyone be so kind to tweak it for me to ONLY add its ability to do TrailStops, TakeProfit, and StopLoss as well as to allow it to work on all pairs at any one time?
Please see attachment.
Thank you for doing that.
How do I add a magic number? Do I rename the EA and add a different number to it, and so on for each pair, ie.
EAname-JPY.mq4 - with Magic #12345
EAname-EUR.mq4 - with Magic #23456
etc, and so on?
I just tried this on the strategy tester, and I got these messages in the Journal.
It never made any test trades... any clues?
2006.04.29 01:38:12 2006.04.26 23:59 FXGuy2000_v1 EURUSD,Daily: Tester comment: EMA5 - 1.2366 v.s EMA40 - 1.2156 for period: 1440 Pending: 1 TradedThisSession?: 0 Total Trades: 0
2006.04.29 01:38:12 2006.04.26 15:39 FXGuy2000_v1 EURUSD,Daily: Tester comment: EMA5 - 1.2366 v.s EMA40 - 1.2156 for period: 1440 Pending: 1 TradedThisSession?: 0 Total Trades: 0
For some reason on my live account I couldn't test this, so I opened up a demo account, tried the strategy tester, and there seems to be a problem.
What it's doing is that it's opening the trade ok, but it's closing them too early, like, litterally as soon as it was open.
I have attached an image to show you what I mean.
I have added some improvements in your EA.
Try to change Stoploss, TakeProfit and TrailingStop for better results.
Magic (Magic Number) allow to work with different pairs at the same time.
P.S. I have uploaded new version without bugs.
I have updated your EA.
You can see messages in tester journal because comments are in the code.
There is no need to rename the EA for each pair as enough to change only Magic number.
I just tried the updated version. I'm afriad there is no change in it. It's opening them, then closing them after so many bars have gone past completely ignoring the EMA crossover before its even happened. And it's also opening them a few bars after the EMA's have crossed over ignoring the time delay too.
I don't understand this magic number stuff.
I mean, if I apply it to GBP/USD with a magic number of say #12345. Save and compile.
Then I apply it to EUR/USD, it's going to have the same magic number.
Can you explain a little more please.
Here's an image to show you what I mean.
Do not need to compile.
What is magic number for?
If EA is attached to many chart so this EA should know which order should be modified and which one should be closed. EA can recognize the orders according to the numbers. How to do it? When you attach EA to the chart change magic number to 160100 for example (1 is the # of your EA, 60 may be timeframe, 1 is eurusd and keep these 00 for some case). GBPUSD may be 160200. And so on.
I am always doing like this.
You may create pre-set file for each pair you want to trade.
If you have the other EA attached to the chart (other chart) so it may have 2....
I'm still not understanding it, because the EA is being read by the chart so it knows what to do. If I update the EA, then the old magic number is going to be gone, so how does it know what to use on the first chart if the magic number was changed... see where I'm coming from?
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