Thanks Kalenzo. I love the indicator. I think we may need to rethink the EA. I tested it with everything I could think of and it went from 1.5 lot to 15 instantly and loses money just as fast. Plus Its written in Russian . Not really but might as well be I can't read it. Any ideas??
Its what I am claiming for. The EA is profitable and the intention of coroacas I think is to get a very fast return risking a lot, taking out fast your initial deposit and letting the EA risk the gains. Its another view, but scaring for me. The jump in lot progression is too huge, I think, and needs a big account size to hold big, big lots.
That's the main weakness I see in this EA and can be improved (MM) resigning some profits for safety (actually may be not a weakness, but just a point of view. I am shure this EA correspond the way Cocoracas prioritize the trade: big gains in short time).
But I like a lot the way the EA trade and that's a big merit of our friend cocoracas, who show us that he is much more skilled than he says.
I tried it too [set long/short] and it almost killed my demo account.
But I still like it for trends!
I do think what I will do from now on is set it for Long or Short only, according to the trend. I think once you are 80% sure which way the pair will trade, [with good indicators], then you might have a Gold Mine trying to reveal itself. But watch it closely and on a Demo acct. only until it proves itself! Once you have determined the trend let Sweet Emily ... ROCK! It has its own mind as to the lot sizes even if I set them lower ... anyone know why? IMO
I use these Indicators and others:
RSIOMA - [Thanks to the great Kalenzo!]
Igor_Slope Direction Line
Heiken Ashi Smoothed - [from the Steinitz Method] This helps the most if you zoom out I think!
#signal-bars_v6 - or DIGISTOCH
i-Breakeven_shows open position_equity
I Tend to like the [30min Chart] and zoom out so I can clearly see the patterns and trend. When a majority of my indicators agree I consider a trade. IMO
Thank you for sharing your work. Looks very promising.
How to decrease the lots value ( say from 1.25 to .1 lot).
This Ea is making trades very crazy way. I mean how to decrease the number of trades. I changed Input value to 3, though it placed may be 10 trades in no time. Now in journal section shows there is not enough money. What is pips=5?
Thank you in advance!
Pips 5 is the level for open new traders. For example if the AE open buy and the trend is cooming down, then the AE open new traders every 5 points with doble lots that last order. Until the trend is cooming up (our direction) I dont know if I expalin good this.
But I was tested the AE the last week and the really results was bad :-(
I dont know what more I can do
In order to be more safe (with less profit, that's seems the price to pay), I think we need 2 things:
1.- Begin with little lots (adding a feature to change the lot size according to your risk tolerance will be great help).
2.- The actual lot progression is multipling by 3. If the initial lot size is 2, the next lot opened is 6 and the next one is 18 and so on. That's too huge for any account specially when using standard lots. How about with minilots (or microlots, depending your starting balance?). How about changing the lot progression by 2, too?. I mean, If the initial lot opened is 0.2, next should be 0.4 and so on... combined with a little more big pip space (7 or 10 or more instead 5, to survive strong movments against) will allow the EA to trade more safely (with less profit, of course).
The final safety feature can be a hedge, but we need to think in that feature very carefully.
That can work, if you are not caught in a sudden counter trend movment due to unexpected news or a retracement a little bigger than normal. In that situation, sweet Emily will become a witch that will open huge lot sizes against you, smashing you account like a cockroach in a few trades.
Thinking another safety feature can be the pip spacing. Lets say the EA open the first 3 trades every 10 pips, but trade number 4 at 30 pips, trade 5 at 50 pips spacing, etc.
i want to change the green bar when RSI rises form 20 to 80, and it would be in the red bar if it points down from 80 to 20,
if you meant histogram, you, probably allready know - you can set trend(histo) from 50 (default) to any levels (20/80; 23/78(fibo) etc.)
but you right, it will show "caps" and "bottoms": in-out (of level); we need: "out-out" ...
yup the histogram..... , i've tried it, but it shows part of the histo is missing.... , thanks fxbs for the reply...
ooops sorry fxbs !
i've been fixed that, just wrong setting...
BTW, i have another idea about the histo. How about if it will be green if RSI cross up the MA, and red if they cross down....
Just an idea.........