You posted a very good analysis and forecast today, hats off to you
Actually, cable bounced off 1.94. Whether it is due to the better than expected UK PMI only, or will there be a reversal?
I have noticed that if one just enters in the orders manually based upon the left hand printed for BUYs and SELLs as a set and forget type thing, its not such a good idea. Price will just touch say the BUY AREA by a PIP or so and then reverse. In all instances, you will always see the GMMA all tangled up with no separation of lines. How will the EA handle this? I have not tried the EA, just I know the EA must look at the GMMA to avoid the a losing position though GMACD may give the indication as a strong trend.
Hi guys, I've come to Dolly a couple of days ago and I think this strategy is the best for me to start with on Forex. I've tried Vegas and other things, but they didn't work for me. Joe Ross' methods worked good but you need to have large capital to make some money position trading and automatic intraday trading cannot be done, because they are not mechanical strategies.
I think breakout strategies are just great, simple, will always work (although with some changes though) and can be easily turned into EA.
I've just been facing some difficulties with programming though. Right now I'm forward-testing OpenGraphic_Expert_ver1.01. I've been backtesting only today, and it made a mistake on GBPUSD. It broke out the sell area and should have brought us 20 pips, but didn't for me. The SELL STOP was (and still is) at unsensible 1.3150 as of midnight.
I've seen the entry stops at such odd levels on other pairs as well, only it looked to me it was ONLY when the price had already broken out and therefore was really already above BUY STOP / below SELL STOP. The expert should put no such stop at all, well it did somewhere really away where it can't virtually be hit, O.K. But today for the first time it set the stop that far away already when the price was still in the range and when both stops at correct levels would have had sense and would have brought us the 20 pips (short position) according to the Dolly strategy.
Second strange thing is the stop losses. When the entry stop is placed, the stop loss is again very far off and eventually moves closer and closer and halts somewhere around the correct level. Now this I don't understand at all - I thought the EA works exactly like the original Dolly strategy with exact buy or sell lines and exact 40-pip SL. The only difference I know of is that as the central line we use the open price instead of pivot.
I wonder if you could explain this issue to me. Is this somehow fixed in v1.02? I haven't tried that one out because it contains the GMACD filter. I would like to use it for filtering in the future, for purposes of the very first testing though I would prefer to have it without GMACD filter.
Thanks a lot. I've tried to program this EA on my own, but it kept messing up even more although it was much simpler. Well, I'm gonna have to study some more Thanks for your help.
2007.01.04 08:14:39 OpenGraphics_Expert_Ver1.02 GBPJPY,M30: Error opening SELLSTOP order : 4107
2007.01.04 08:15:36 Cannot open file 'C:\Program Files\MetaTrader 4\experts\indicators\Open Graphics4Exp.ex4' on the USDJPY,M30
Can someone post this file? - Open Graphics4Exp.ex4
I would like to give this EA a try.
made some mistakes on quoting the author for GMACD.
I am giving the right credits now.
the GMACD I am using is from hymns. :P
he modified it from CJA..
I did give credits but short of last guy who modified it.
i am wonder should we quote the original author or the author who mod it?
Since you have this working, do you have this file - Open Graphics4Exp.ex4?
you are absolutely correct et_phonehome_2. I think that is why the Trend is there in the bottom part of the screen. If you hit the buy stop target and the trend is sideways/down weak or strong, I would avoid the trade. If the trend is Upwards and is strong or maybe even weak, I would take the trade. So overall trend direction is important here.
Is it possible to use the General Trend Indictators without the Guppy? We could create simple rules for EA Testing such as:
If Buy_stop_1 == True && H4_Trend==UP && H1_Trend == UP
sorry I am not a good cooder
Alright. I change the GMACD Decisions to take in H1 and H4 values instead of H4 and D1.
The missing file that alot of people PM me about is from the first version of the EA.
Anyway, I zip up everything already.
Thanks. Does it work on M30 as well?
alright .. will modify the code so that it can take into any GMACD time indications.
For the EA, is it possible to put in a GMT time when it should be activated since most moves to the BUY/SELL area does not occur until the European session? I just want to avoid price touching the BUY/SELL area, reverses back and then consolidates until the Eurpoean session. If its not possible to check the GMMA for confirmation, maybe have it check an EMA or something for confirmation.
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