New EA based on the !xMeter - page 36
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statement
I'll try to publish a statement - the previously linked one doesn't work any more.
Here is my hourly updated statement (real money account):
xMeter System | Myfxbook
Note that the very first trades (on 31 August) were executed with wrong settings and had to be closed. This caused the initial -14% equity loss
Since that time it runs fine.
Thanks very much, you have done a very thorough job!
I believed the 2 new parameters (BreakEvenPips & RecoveryPips) will need to add a "0" behind for 5 digit broker, right?
Thank you Venox for your impressive work!
I had some problems with the stop loss, which led to big losses. The behavior of EA has been accumulating many small wins but few big losses. Now, still in demo account, try the new version. Also many many thanks.
Hi
when I load EA I get message initilizing EA waiting for ticks but it never starts trading. Any suggestions?
I believed the 2 new parameters (BreakEvenPips & RecoveryPips) will need to add a "0" behind for 5 digit broker, right?
Thanks for pointing this out. Actually there was a bug in the code so I corrected and re-uploaded the 2.0 version.
In this version You don't need to add an additional 0 behind BreakEvenPips & RecoveryPips for 5 digit brokers the EA will calculate it (however, I did not test is).
I know that SpreadLimit should be working the same I just didn't had the time yet to fix it (I'm using 4 digit brokers).
Please download again the fixed version.
Hi when I load EA I get message initilizing EA waiting for ticks but it never starts trading. Any suggestions?
Check the experts tab for any error messages. What symbol did You put the EA on?
Thank you Venox for your impressive work! I had some problems with the stop loss, which led to big losses. The behavior of EA has been accumulating many small wins but few big losses. Now, still in demo account, try the new version. Also many many thanks.
Interesting. I did only have 2 losses in about 2 months. You might want to further decrease the CloseTrigger parameter so that You can avoid negative close (but potentially risk more of Your equity).
Version 2.0
Hi all,
Thank You all for the positive feedback! I's nice to hear that You like my work.
Based on some feedbacks and my own experience with the EA I made a new version which is now 2.0.
The new features are: better exit handling (exit with TP instead of closing each position one at a time), breakeven and recovery exit profit control, account margin usage calculation corrected (includes credit too). Some other minor bugs corrected (such as constant TP/SL modification, recovery opening condition, etc.). The display was updated too.
Parameter list reorganized and 2 new parameters added:
BreakEvenPips: shift initial breakeven stoploss this many pips (into profit or loss)
RecoveryPips: if in recovery mode set TP this many pips above (under) breakeven level.
Note that these two parameters shouldn't be set to extremes (it will decrease overall performance). Leave them on default or seth both to 0. Other values might be OK too but they should remain close to zero.
This might be the last version I created. I don't see any more significant update possibilites for this EA so if You think You can further update it do it for Yourselves. Or share Your ideas here maybe someone will program it (it might be even me).
Good luck and many profits!
Some improvements
Hi,
EAs should identify their own orders by a hidden identifier called Magic Number. Unfortunately, as an end user You don't have control about this behavior. Most EAs do use Magic Numbers and most of them have it as a trade parameter for You to change it if necessary. Changing MagicNumber while an EA has open orders will most likely cause the EA to 'forget' it's already existing trades.
Regarding behavior upon strategy restart is another thing You don't have control over. When You stop and restart an EA it has to re-initialize itself. This means that it should look at open orders and possibly recent trade history to know where did it stop. You only can hope that the EA you use does it nicely. This is a very important thing You should check on a demo with every EA!
You are correct.
You may use the "Comment" variable, so you can controle your trades as they fit them.
So, if there is an electric power break, then you should recheck your open trades according these comments, otherwise you should use Globalvariables, but then you have to know how to deal with it PERFECTLY.