How to use the daily20pip system on a MT4 opening day - General

paijolopez 2007.06.16 17:46 #381

proverbs:
WNW,

I am trying the limit orders off the pivot to see what results we get.

Just place a horizonal line on the pivot trendline and rename it to TLBL if you want to test this. We have to add this line because the EA will not share trendlines for any two orders. Let me know if you have any questions.

Paijolopez,

Where do you think it makes since to have the limit orders set from?

extern string BuyStop_Trend_Info = "_______________________";

extern string BuyStop_TrendName = "BUY Level 1";

extern int BuyStop_TakeProfit = 20;

extern int BuyStop_StopLoss = 30;

extern double BuyStop_Lot = 0.1;

extern int BuyStop_StepActive = 2;

extern int BuyStop_StepPrepare = 4;

extern string BuyLimit_Trend_Info = "_______________________";

extern string BuyLimit_TrendName = "TLBL";

extern int BuyLimit_TakeProfit = 5;

extern int BuyLimit_StopLoss = 20;

extern double BuyLimit_Lot = 0.2;

extern int BuyLimit_StepActive = 10;

extern int BuyLimit_StepPrepare = 0;

extern string SellStop_Trend_Info = "_______________________";

extern string SellStop_TrendName = "SELL Level 1";

extern int SellStop_TakeProfit = 20;

extern int SellStop_StopLoss = 30;

extern double SellStop_Lot = 0.1;

extern int SellStop_StepActive = 0;

extern int SellStop_StepPrepare = 6;

extern string SellLimit_Trend_Info = "_______________________";

extern string SellLimit_TrendName = "Pivot";

extern int SellLimit_TakeProfit = 5;

extern int SellLimit_StopLoss = 20;

extern double SellLimit_Lot = 0.2;

extern int SellLimit_StepActive = 10;

extern int SellLimit_StepPrepare =0;

I'm placed the LIMIT order using this rules bellow,

-Placed BUY LIMIT on B when the price are above B point (+41 point from pivot) more than 20 pips at the MT4 opening day

-Placed SELL LIMIT on B when the price are Bellow B point (-41 point from pivot) more than 20 pips at the MT4 opening day

as you can see there's no BUY/SELL LIMIT on point A (+- 21 from pivot) ,with daily20pip system we only have :

-BUY/SELL STOP on A

-BUY/SELL STOP on B

-BUY/SELL LIMIT on B

Depth of Market - Types of Orders - Types of Orders -

proverbs 2007.06.17 23:49 #382

paijolopez:
I'm placed the LIMIT order using this rules bellow,

-Placed BUY LIMIT on B when the price are above B point (+41 point from pivot) more than 20 pips at the MT4 opening day

-Placed SELL LIMIT on B when the price are Bellow B point (-41 point from pivot) more than 20 pips at the MT4 opening day

as you can see there's no BUY/SELL LIMIT on point A (+- 21 from pivot) ,with daily20pip system we only have :

-BUY/SELL STOP on A

-BUY/SELL STOP on B

-BUY/SELL LIMIT on B

So if the price action is above the A Buy point but below the "-Placed BUY LIMIT on B when the price are above B point (+41 point from pivot) more than 20 pips at the MT4 opening day" Criteria is that a no trade day?

-or-

If the price action is below the A Sell point but below the "-Placed SELL LIMIT on B when the price are below B point (+41 point from pivot) more than 20 pips at the MT4 opening day" Criteria is that a no trade day?

If price action is in these locations the system will not open a stop order at the A location, Thats why I was going a limit order at the A point.

I will add an option to add limit orders at point A that is user defined for now.

I will work on your logic above in a later version. I want point A to work perfectly before moving to point B.

Order types Parabolic SAR - Trend Parabolic SAR - Trend

proverbs 2007.06.18 15:02 #383

paijolopez,

Have you tested the win/Loss/No touch results for each day of the week to see what days have a better percentage of success?

Also have you tested to see what gives better results: 1. using the HLC from friday or 2. using the HLC from sunday for the monday entry?

Thanks

HistoryDealSelect iTime HistoryOrderSelect

proverbs 2007.06.18 17:22 #384

Goldenfx 2007.06.19 01:38 #385

More power to you proverbs! May I suggest that the EA have the money management feature? And then close half of the position when in profit then move the SL to breakeven for the remaining half.

Example:

We enter @ 1.9850 for 2 lots, half TP @ 20 pips the other half @ 80 pips.

As soon as the price hit the first TP, it will close half of the position which is 1 lot, move other half to break then trails SL 20 pips until it hits the second target.

CheckTrailingStopLong CheckTrailingStopShort Request Execution - Opening