I start this thread (with Rlinac agreement) about his great tool: the !xMeter.
!xMeter calculate the strength between different currencies. When I study the values on the picture below, it appears obvious that more the variation is large more it would be interesting to open a position.
So I decided to make an EA based on this invaluable indicator and which I come to present here.
This first version is only for EURUSD. If you like it, i would make the following versions: GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, EURJPY, EURGBP, EURCHF, EURAUD, GBPJPY, GBPCHF.
The EA details:
1. BUY or SELL when the High and Low levels are reach (eg. if EUR reach High && USD reach Low then BUY)
2. MagicNumber which allows to trade various pairs and several EA simultaneously. You can also delete EA and attach it back, it'll manage its own positions.
1. Standard settings: TP, SL, Trailing, Lot size, Slippage
2. The Levels to open: HighLevel and LowLevel
3. MaxSpread for traders who don't want trade the news!!!
4. ManagedLotSize, Risk and MaxLot for increase (or decrease!) your lot size automaticaly with your balance size. If we have others versions (others pairs), i will put also PairsTraded for divide the risk between all pairs.
I tried it on live account yesterdayday. It works perfectly and the results are promissing (3 wins and 1 loss).
I notice some bugs (not in trading). If someone can test if the problem is only me:
1. When the EA is attached to the chart, it isn't possible to click on smiley face to change parameters. The same problem than the original !xMeter. I think it's because of the infinite loop for the Meter.
2. The Meter's values between demo and real are different. My broker have different server for demo and live. Maybe also different feed.
3. Backtests aren't possible. Why? I don't know. Maybe because the Meter doesn't refresh for backtest.
Notice that all these bugs doesn't make any problem for trading.
I am opened with all suggestions concerning of new features but let us try to keep the 1st spirit of this EA: the !xMeter.
Thanks for your feedback.
Update 2007.05.27: EAs MultiPairs and MultiPairs reverse
Tks. for sharing, Ferrufx.
I've try to backtest the EA. Nothing happens. I asume that due to the nature of the Indy, is only able to forward test. I am right?
I think so.
Tks. I will try it.
you are right. i could not click on smiley face to change parameters.
you are risking 20 to make 10. i'm going to test 20 20.
The 20/10 setting is by default. My testing yesterday is 20/20: 3 wins, 1 loss
will it matter what timeframe its on?
Thank you for your great work.
I will start forward test for this EA tonight ~~
Could you post xMeter indicator here? All I find is EA. Thanks.
xMeter indicator Is a EA format indicator . And it is not possible to make Xmeter be a indicator.