MasterMartingale v1 --- a multi-strategy EA - page 2
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As promised, I've attached the latest version (1.03) which is testing flawlessly in Mode 2 (alternating) and also in Mode 1 (counter-trade). In Mode 2, it's pulled in 109 pips in just under 16 hours on USD/JPY.. Next I'm going to spruce up the graphics a bit, and also start testing in Mode 3 (indicator)...
Settings and timeframe?
As I mentioned before, timeframe is irrelevant in Modes 1 and 2. In Mode 2 I'm using TP=10, SL=10 and Direction =1 (all defaults). For Mode 1, I've set TP=40 and SL=20, to coincide with the defaults of Terminator...
Here's the next version, with slightly improved graphics. Also, I took out the debugging Alert() commands that I'd used earlier... they're no longer needed...
Thanks ZTrader
I've just downloaded your latest version, and look forward to testing it! I really appreciate the fact that you revised the EA so quickly
I'm going to optimize for 2-3 pairs tonight in mode No. 2, open a new demo account, and let it run for a few days. I'll post my results with the settings after that.
Doug
Thanks Ztrader
Thanks from me too. Do you think a time filter might be worthwhile? By that I mean only having the ea operate during europe and us times so as to avoid those sideways markets which trade in a channel.
Thanks from me too. Do you think a time filter might be worthwhile? By that I mean only having the ea operate during europe and us times so as to avoid those sideways markets which trade in a channel.
No, I don't think time is an issue, especially with regard to sideways markets. With Strategy 1 a sideways channel is just a time when little or no trading occurs. Strategy 2 is actually designed to excel when markets range, by setting you up for profits once the range is broken, so you can actually benefit from sideways periods.
I plan to focus on the basic concepts and not try to bog the code down with too many filters. The problem with filters is that they need to be tuned to the conditions and markets in which they're used, and then when the conditions change, they do more harm than good. If a clear problem arises, we'll seek a solution and some kind of filter might be worth considering, but I'm not inclined to put in solutions just to find out if they are helpful. I would prefer to focus on enhancements of the basic functionality, such as allowing multiple trades (a la Terminator)...
Here's version 2.00.. It needs more testing to be sure it works OK, but so far it seems to be good.
I've added the ability to build up the trades (like in Terminator/Predator etc.) instead of closing each trade when it hits its SL. In other words, when the market goes against the existing trade, it opens a new trade twice as big, but doesn't close the previous trades. The parameters have been changed:
Strategy (previously called TradeMode): 1 = counter trade, 2 = alternating trades, 3 = indicator driven
TradeMode (new): 1 = Single mode (one open trade at a time), 2 = Multi mode (losing trades stay open until a winning trade reaches profit point)
I also added the Scaler parameter. Until now, each losing trade was followed by another 2x its size. If Scaler is set to 3, each trade in the progression will be 3x the previous one. If set to 1.7, each trade will be 1.7x the previous one, and so on. This feature has not been tested yet.
Another change is that there are three separate magic number parameters, one for each strategy (MN_Counter, MN_Altern and MN_Indic). This allows the EA to be run in three separate charts all of the same symbol, without interfering with each other's trades. My long term goal is to set up a system that uses multiple strategies simultaneously, to diversify within each currency pair and thereby reduce the effect of bad situations occuring in one of the strategies. This feature has not been tested yet.
Thanks for the new version. I am testing mode 2 with the alternating trades and a 10 tp and 10 sl. I started with .01 lots and the market has been ranging sideways (eurusd). Unfortunately it has been ranging enough to hit the stop loss four times and it is looking likely to be a fifth loss soon.
I am trying to think of a strategy to avoid this which is why I suggested a filter of some sort.
I look forward to everyones input.
Thanks for the good work, I'll start testing out this ea.
I really like the scaling concept you put into the 2.0 version of the EA, yet I'm not yet sure how I'd like to use it
...
With respect to the other new option, of allowing losing trades to be kept open as with Terminator, I personally don't think that's something that should be used. My rationale is that keeping a losing trade open simply reducing the profit of the alternate trade that has been opened. After all, the "losing" trade is losing, therefore there is no sense to allow it to continue to lose money. If the market direction changes again, then the market order will change and double again (or some other multiple now that we have that option).
Anyway, I really like where this EA is going, and more particularly, the concepts behind it. I agree that we shouldn't allow it to get too bogged down with filters until such time that there is an obvious need for one.
Keep up the good work
Doug
PS. I optimized the V1[1].04 version for the EURUSD (TP=45, SL=60) and USDJPY (TP=50, SL=10) last night for the preceding 2 months, and they've been running for about 8 hours now. Trading mini-lots, I'm up approximately $30 (or 30 pips). Personally, I would be ECSTATIC if I could continually make a 10-20 pip gain per day, on average. That would be amazing!