PipMaker v1 - Price action based EA - page 69
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Pipmaker_V10 - Closes all orders when profit target reached
Hi Everyone,
I've been working on my own version of Pipmaker (I'm calling it Pipmaker_V10)and it looks to be working well so I'm posting it so everybody can check it out. This has been modified from PipmakerV5aNeo_Enhanced_V2_mod4 so I'll highlight the differences:
- When the sum of all of the outstanding orders is greater or equal to the profit target all of the orders are closed. This eliminates the problem of outlying orders never closing and drawing down equity.
- Uses standard CCI (instead of Sniper's) with a user set period (default is 15 min) and a 1 minute period CCI to determine trend. Will only place buy orders of 15M CCI and 1M CCI are above zero (opposite for short). The 1 minute is used to prevent placing too many orders in countertrend mode when there is a sharp reversal in trend. The ea will stop placing orders until the main trend resumes.
- If TradeLong and TradeShort are both true there will be both buy and sell orders open in the same currency (if your broker allows hedging), but this is o.k. because it will limit drawdown until one trend dominates.
- The Multiplier and CounterTrendMultiplier when set to "1" will open orders in a Martingale fashion the first with and the latter against the trend.
- The Spacing (against trend) and TrendSpacing will be the minimum amount of pips away to place the next order but the gap could be higher because the EA will wait until the indicators line up for a buy or sell before placing the next trade. This also helps to limit drawdown.
- You can set a stop loss for each order, but I couldn't find any value of stop loss that would be profitable in back test. You can still use the SLTotalinDollar to close all orders when a certain dollar amount loss is reached.
- The EA worked best in backtest with both UseDPO and UseCCI set to "true"
- Use only Spacing or TrendSpacing not both set to "1000" to disable the one not used. Spacing worked best in backtests.
- Small lot sizes and small profit targets seem to work best and will give small but steady profits.
I will attach some back test results with some sample settings to try.
Have fun trying different settings and configurations!
Ok, thanks. What is DPO and does it have an indicator?
Ok, thanks. What is DPO and does it have an indicator?
See post #611 for description of settings. All the changes I made are described on my post on the previous page.
Fresh Blood! Welcome to this thread, Stech137!
Hi Stech137,
it is nice to see a new person who willing to improve this EA!
Your backtest looks promising... let see what I can do
Pipmaker V10 not closing trades
Sorry...just my software/machine. Great EA! Does anyone have a version that uses FXsniper that has Global Equity Closure fixed? Could someone explain the code surounding global position closure. Thanks! Excellent thread.
Hi Stech137,
it is nice to see a new person who willing to improve this EA!
Your backtest looks promising... let see what I can doThanks Tiger_Wong, hope we can make it even better!
Using your settings but doesn't seem to be opening more trades based on the spacing setting. I have one buy and one sell and price has moved 33 pips but no second and third trades at the 15 pip trigger points ??
Using your settings but doesn't seem to be opening more trades based on the spacing setting. I have one buy and one sell and price has moved 33 pips but no second and third trades at the 15 pip trigger points ??
Please read post #677 it explains about the gaps in spacing
Ok, so this still looks ok to you? Price has move 140pips and still have the same trades as last night. Just trying to understand. Thanks
Ok, so this still looks ok to you? Price has move 140pips and still have the same trades as last night. Just trying to understand. Thanks
If UseDPO and UseCCI indicators are used:
It will only trade short if 30Min-LWMA is below the daily open price of the currency and if the CCI 15M period(default) and CCI 1M period are below zero and if the price is >= 15 pips (default spacing) ABOVE the highest sell price (counter trend mode).
It will only trade long if 30Min-LWMA is above the daily open price of the currency and if the CCI 15M period(default) and CCI 1M period are above zero and if the price is >= 15 pips (default spacing) BELOW the lowest buy price (counter trend mode).
If you turn off UseDPO or UseCCI or both it will trade more often. If the 30 min. LWMA is above the opening daily candle price, the EA will only take longs even if the price drops straight down 100 pips. It may take a day before it starts doing shorts again. If you turn UseDPO off, it will takes longs and shorts during the day as long as the CCI values are above/below zero.
Do some back tests with different settings , i.e. with indicators turned on and off and you will see how the price reacts