PipMaker v1 - Price action based EA - page 90
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Hi, all of you friends
Really wonderful work, enforcer, but i have two logic questions on the execution of this EA:
1. Lets say that we trade only one pair with buy&sell options=true_ reverse=true_profit mode=1. As we have noticed on i-trend indicator sometimes it gives an uptrend break and few minutes later a downtrend, so the EA will opens two trades, right? One buy and one sell and their open distance will be say 5pips. How the EA will manage these trades? Will it ever close them?
2. If we trade with 0.1 lots the profit target of one trade must be 10 usd/eur? (With 0.01 you give 1usd/eur profit target).
Your response will be much appriciated
Regards
Here is new version called PipMaker_v12. that include LossManagement and ReverseSignal options.
Changes:
-Added iTrend indicatorthat seem to work better than DPO and CCI.
Thus DPO and CCI are left in place.
- Now signal is reversed by default.
- Added auto calculate recovery lot size according to loss amount and RecoveryTakeProfit value.
It calculate lot size for USD based pairs, so RecoveryLotMultiplier is default=1.
If use EA on different pairs adjust this value up or down.
- Added more options for TakeProfit.
TakeProfitMode = 2
will take profit as it was until now, when sum of all trades reach ProfitTarget all orders are closed.
TakeProfitMode = 3
will manage buys and sell separately.
If BuyProfit reach ProfitTarget will be closed buy orders.
If SellProfit reach ProfitTarget will be closed sell orders.
TakeProfitMode = 1
Will combine both modes 2 and 3 so it will take profit which situation will occur first.
It seem is best method so I left it by default.
Default values was used for testing on GPBUSD.
You have to find your own values that work best for you according to your broker, account balance, traded pair, lot size used, etc.
Major risk of this EA: to fail to take profit on a recovery order.1. Of course will close them, depends how trend moves.
Is possible to place another orders that will help to close all, if not will close first order(s) that reach profit target, other will be probably closed later when trend change again.
If trend continue in opposite direction will be closed by loss management.
So either way, all orders are closed.
i-trend should be set according to trend type (also reversed option true or false): on a dynamic trend should be set to lower TF, 5, 15 or 30, on a calm trend to 60 or even 240. Of course nothing helps on sudden trend change.
Is recommended to make weekly optimization to find best settings.
You may also combine all indicators, sometimes may be better,
That remain a major problem of this EA, a better method to enter trades.
i-trend seem flexible enough but is not infallible.
This problem is somehow solved by loss management, at least cut loses early.
Placing recovery orders is risky and I do not recommend to use it unless you keep an eye on chart.
2. Profit target seem to be optimum around 8- 12 pips, so yes, if use 0.1 lots then 10 pips mean 10$ profit target.
compiled
Sory all, i have compiled this EA but it did"t work, what should i do now? what should i modify? any 1 has experience like this, please help me.
or my bee you can share EA to my email thanks
Question on PipMakerV5aNeo_Enhanced_v2
Problem fixed
Thanks anyway,
Kevin
Money Management
dear All
this EA almost done, but before that i think we need to add MOney management feature first, let say XX% from equity.
i think with this, we can go to championship with pipmaker v13. Loss management done, floating done. what else...
Hi Don, are satisfied with this progress so far???
Money management won't be so hard to add, but I see no use of it except for backtesting.
Main problem remain: a better mode and/or indicator to enter trades.
Pipmaker better entry signal
Versions 3a and V4 seemed to do very well at entering trades and making a profit, Can the programmers perhaps have another look at possibly combining the entry signals of the earlier versions with the loss management functions in version 12 to control drawdown? Or is this going backward?
How to change the variables of PipmakerV12?
Hi Enforcer,
Since you showed me how to continuously backtest, I backtested some with winning results but sometimes also with nerve-breaking DDs. Below is an example of backtest on EURUSD.
What can I do to minimize DDs but still make worthwhile money with this EA? Behind each = below, could you briefly explain what each possible value means or what an increase or decrease means? With your advice, we can then adjust each variable knowingly, hoping to eventually find the best combination for this EA. Many thanks. -forexjim
TradeShort =
TradeLong =
UseDPO =
UseCCI =
CCIPeriod =
Use_iTrend =
iTrendPeriod =
ReverseDirection =
LotSize =
LotIncrement =
Multiplier =
ProfitTarget =
ProfitMode =
SL =
OpenOnTick =
Spacing =
TrendSpacing =
CounterTrendMultiplier =
CloseDelay =
CeaseTrading =
PauseTrading =
StartTime =
EndTime =
QuitTrading =
endDayHourMinute =
RightSideLabel =
SessionTarget =
MaximumBuyOrders =
MaximumSellOrders =
SLTotalinDollar =
LossManagement =
AllowRecovery =
MaxLoss =
ExitAllTrades =
StopTrading =
PlaceRecoveryOrders =
MaxRecoveryOrders =
RecoveryTakeProfit =
RecoveryStopLoss =
RecoveryLotMultiplier =
RecReverse =
PipMakerv3.mq4
PipMakerv3.mq4
How setting this ea ??
Congratulations Enforcer for this great work.
I think v12 seems be the best.
Can anybody post a statement with v12 ?
Thanks.