PipMaker v1 - Price action based EA - page 13
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But it is now only entering once per 4 hours. In four hours there is always more than 2 pips movement, thus with a spacing of 2 there will always be an entry...just one.
if one changes the spacing to say 35...then there will not necessarily be an entry each 4 hours....but the stops or TP of 50 (defaults in the latest version) will kick in.
...as long as the entry method is good...in time the TP's will hit more often than the SL's (they are equal...50 pips)and if they do hit withing 4 hours then there will be little DD and less overlap of multiple trades. The trades accumulate during the low volume afternoon and early evening session hours (est time).
ES
The Creator of this EA is absolutely right: small spacing will always result in wrong entries. Spacing = 2 means that when the price moves 2 pips in one direction you open a trade in that direction. Of course this is a huuuuge source of trouble, therefore to confirm a clear trend... spacing must be higher.
ahh..Thanks don_forex
I find the latest version a tool or a utilitymore than a magic moneymachine. We need to now get an "entry filter dropdown box" and code in many different indicators to choose from. Let the user decide and the testing to begin. I have been searching for a simple EA such as this in an uncluttered thread for a long time.
Keep it simple fellah's and code with open architecture and user friendliness in mind. Add notes and comments to your code and put it right there in the input menu. (if it were not for don_forex, the default would have only allowed me one trade per four hours...now I can use a spacing of 35 and it will make sense)
ES
Make sure if you want more than one trade per candle that the OpenOnTick = 1. A zero (0) will only trade once per candle. Change the SmallestLotSize to 2 which is 0.01... The 2 means two digits after the decimal point. the 1 means one digit. This is for brokers that only have a 0.1 lot size minimum. The broker I just happen to be referring to is LiteForex. They only allow 0.1 minimum.
hi
ahh..Thanks don_forex
I find the latest version a tool or a utilitymore than a magic moneymachine. We need to now get an "entry filter dropdown box" and code in many different indicators to choose from. Let the user decide and the testing to begin. I have been searching for a simple EA such as this in an uncluttered thread for a long time.
Keep it simple fellah's and code with open architecture and user friendliness in mind. Add notes and comments to your code and put it right there in the input menu. (if it were not for don_forex, the default would have only allowed me one trade per four hours...now I can use a spacing of 35 and it will make sense)
ESdo you think 35 spacing will indentfy a trend more safer,just tryed today last version it killed my live account, cus indentfying the trend too late after reserval
there has always been the choice of entry since the beginning. It is clearly described in the first post.
Don
Its all about the entry and taking the losses when needed in my opinion. We need a menu of indicators in a drop down box that work well with 4 hour TF's to choose from with this utility. This way the utility can be just that and the trader can decide IF IT STAYS SIMPLE.
Folks start asking the coders for your indicators and this can be their heaven! they love to code and are very giving people...where some of us are traders and only want to make money.
I do not know what this latest version uses...midline or something I think...I must look at the code again.
ES
do you think 35 spacing will indentfy a trend more safer,just tryed today last version it killed my live account, cus indentfying the trend too late after reserval
By choice I mean indicators to filter with...This EA can be much more. I would like a smorgasboard of indicators in a drop down box in the input menu.
By the way..the latest download does not have some of the opening post inputs.
Don't we need to all get on the same page and same download?
ES
there has always been the choice of entry since the beginning. It is clearly described in the first post. Don
I think you are missing the point of the thread
Its all about the entry and taking the losses when needed in my opinion. We need a menu of indicators in a drop down box that work well with 4 hour TF's to choose from with this utility. This way the utility can be just that and the trader can decide IF IT STAYS SIMPLE.
Folks start asking the coders for your indicators and this can be their heaven! they love to code and are very giving people...where some of us are traders and only want to make money.
I do not know what this latest version uses...midline or something I think...I must look at the code again.
ESIf you look at the title of the thread, it is PipMaker v1 - Price action based EA...
The only reason I added the EMA was to help identify trend. that's it... The whole point is to not have to rely on indicators! Indicators LAG, price does not!