Bliksem (Counter Trend EA)

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Wayne Ovenstone
861
Wayne Ovenstone  

Let me start by saying that this is not the first EA that I have posted, but it will be the last if people get full of nonsense. I have posted one of my EA's here before and eventuall deleted all my posts and joined a private forum.

So please, if you don't like counter trend EA's, then by all means have your say, but be constructive, do NOT flame anyone or get derogatory or defamatory with anyone. Constructive criticism is good and leads to improvements and I welcome any and all constructive criticism and ideas.

That being said, lets get the ball rolling. In the next post please find a basic explanation of what the EA is doing or rather attempting to do.

Let me also explain that this EA was originally not for public consumption but the coder has not replied to any emails or modification requests since January.

So I have decided to make it public in the hope that a good coder will pick up where Barry left off.

Thank you

Wayne

Wayne Ovenstone
861
Wayne Ovenstone  

How it works.

Very basically the EA functions like this;

The EA opens trades against the trend, doubling the number of lots with every trade that it opens up to 9 trades.

So if you where trading 0.01 lot for your first entry, every 8 pips you would add another trade, double the size of the last one.

1st trade = 0.01

2nd trade = 0.02

3rd trade = 0.04

4th trade = 0.08

5th trade = 0.16

6th trade = 0.32

7th trade = 0.64

8th trade = 1.28

9th trade = 2.56

The logic here being that nothing goes in reverse for ever and when it does turn, you have enough lots in the last 2 or 3 trades to cover the entire "basket" of losses and make a profit.

(This is obviously not always true, so be aware that this can cost you money)

I have, unlike other counter trend EA's, I think I have resolved the major draw down issue by not being as greedy and by being prepared to wait for my money and only trade positions with what I think is a +75% probability of success. Obviously then it also does not accumulate money as quickly either, but it has no where near the risk.

I originally designed this strategy for the H1 chart on the pair EUR/USD because of the obvious volatility of this pair. I later found that it also performed well on the following pairs, GBP/USD, GBP/JPY, EUR/JPY and CHF/JPY, so it would seem that anything JPY or GBP orientated is also OK. I continue to test on EUR/USD only however.

I ran it live on IBFX on a mini account last week, first lot 0.01, it did nicely, $499.00 has grown to $816.00 in that week, but I do not have the confidence yet to leave it to run unattended.

This EA requires 4 charts with different time frames to function correctly, here is an explanation of the strategy.

I use a 3 EMA system for my calculation of trend on the M5, M30 and H4 charts.

On the H1 chart I use an Indicator called Spyker.

H1

In the Inputs tab, Change the Jimmy value to 1 and the Signal value to 377.

Leave the colours at the default settings.

When the White line is below the Yellow line, H1 signal is assumed to be Short.

When the White line is above the Yellow line, H1 signal is assumed to be Long.

M5, M30 and H4 set-up

1st EMA = Period 55, Shift = 0, MA Method = Exponential, Apply to High, Style = Green.

2nd EMA = Period 55, Shift = 0, MA Method = Exponential, Apply to Low, Style = Green.

3rd EMA = Period 13, Shift = 0, MA Method = Exponential, Apply to , Style = Red.

Assume the trend is Long when the Red line is above both the Green lines on all charts.

Assume the trend is Short when the Red line is below both the Green lines on all charts.

If the Red line is between the Green lines on any of the Charts M5, M30 or H4, do not trade!

Feel free to adjust these numbers to whatever makes you happy.

The EA will enter a long trade when the M5, M30 and H4 are showing Long, but the H1 is showing Short.

To explain in a little detail.

When the M5, M30 and H4 have the Red line above both the Green lines, assumption is that the trend is Long. I then watch for the H1 charts Spyker White line to pass down through the Yellow line.

When this happens I then start to Enter Long trades immediately, I do not wait for the candle to complete.

I generally then compound my long trades in increments of 6 pips. So for every 6 pips the trade drops lower, I open another long trade, double the value of the previous one.

I use this on a Mini account so my first trade has a value of 0.01 and I do not open more than 9 trades in any one "basket" of trades.

The opposite is true for short trades.

I hope that that helps you understand a little bit better what the EA is trying to accomplish and that we can get something of value going here?

The attached files are the latest as at the time of posting this thread.

Files:
spyker.mq4 3 kb
don_forex
197
don_forex  
KaMpeR:
Very basically the EA functions like this;

The EA opens trades against the trend, doubling the number of lots with every trade that it opens up to 9 trades.

So if you where trading 0.01 lot for your first entry, every 8 pips you would add another trade, double the size of the last one.

1st trade = 0.01

2nd trade = 0.02

3rd trade = 0.04

4th trade = 0.08

5th trade = 0.16

6th trade = 0.32

7th trade = 0.64

8th trade = 1.28

9th trade = 2.56

The logic here being that nothing goes in reverse for ever and when it does turn, you have enough lots in the last 2 or 3 trades to cover the entire "basket" of losses and make a profit.

(This is obviously not always true, so be aware that this can cost you money)

I have, unlike Farhad, MLS and others, resolved the major drawdown issue by not being as greedy and by being prepared to wait for my money and only trade positions with what I think is a +75% probability of success. Obviously then it also does not accumulate money as quickly either, but it has no where near the risk.

I originally designed this strategy for the H1 chart on the pair EUR/USD because of the obvious volatility of this pair. I later found that it also performed well on the following pairs, GBP/USD, GBP/JPY, EUR/JPY and CHF/JPY, so it would seem that anything JPY or GBP orientated is also OK. I continue to test on EUR/USD only however.

I ran it live on IBFX on a mini account last week, first lot 0.01, it did nicely, $499.00 has grown to $816.00 in that week, but I do not have the confidence yet to leave it to run unattaended.

This EA requires 4 charts with different time frames to function correctly, here is an explanation of the strategy.

I use a 3 EMA system for my calculation of trend on the M5, M30 and H4 charts.

On the H1 chart I use an Indicator called Spyker.

H1

In the Inputs tab, Change the Jimmy value to 1 and the Signal value to 377.

Leave the colours at the default settings.

When the White line is below the Yellow line, H1 signal is assumed to be Short.

When the White line is above the Yellow line, H1 signal is assumed to be Long.

M5, M30 and H4 Setup

1st EMA = Period 55, Shift = 0, MA Method = Exponential, Apply to High, Style = Green.

2nd EMA = Period 55, Shift = 0, MA Method = Exponential, Apply to Low, Style = Green.

3rd EMA = Period 13, Shift = 0, MA Method = Exponential, Apply to , Style = Red.

Assume the trend is Long when the Red line is above both the Green lines on all charts.

Assume the trend is Short when the Red line is below both the Green lines on all charts.

If the Red line is between the Green lines on any of the Charts M5, M30 or H4, do not trade!

Feel free to adjust these numbers to whatever makes you happy.

The EA will enter a long trade when the M5, M30 and H4 are showing Long, but the H1 is showing Short.

To explain in a little detail.

When the M5, M30 and H4 have the Red line above both the Green lines, assumption is that the trend is Long. I then watch for the H1 charts Spyker White line to pass down through the Yellow line.

When this happens I then start to Enter Long trades immediately, I do not wait for the candle to complete.

I generally then compound my long trades in increments of 6 pips. So for every 6 pips the trade drops lower, I open another long trade, double the value of the previous one.

I use this on a Mini account so my first trade has a value of 0.01 and I do not open more than 9 trades in any one "basket" of trades.

The opposite is true for short trades.

I hope that that helps you understand a little bit better what the EA is trying to accomplish and that we can get something of value going here?

The attached files are the latest as at the time of posting this thread.

I like to try and stay from indicators, but, I think I will try this as see how it works.

Don

Wayne Ovenstone
861
Wayne Ovenstone  

Oops, I forgot.

Hi Don

One thing I did forget to mention is that it is not necessary to have the M5, M30 and H4 charts displayed. They must be loaded however as the history is required.

The EA will print in the top left corner the status of the other three time frames for easy analysis as well as a little other information.

Please also take note that I have only used this EA till now on EUR/USD-H1 charts on IBFX.

Thanks

Wayne

ross
14
ross  

I need another computer!

Too many EA's not enough time!

95032792
343
95032792  

eas

Like your ea...very interesting exit strategy by ts. I also prefer martingales playing only the reversals because signals in forex are always messed up. .. I have to checkout that spyker ...seems pretty cool...have a lot of uses for that!

The only filter I could think up for this ea is a little longer stochastic like 6 4 6 that may help confirm a weakening trend. don't know yet. I don't consider myself a big trader because this stuff is a bieeech. so take anything I say with a grain of salt.!

wolfe
1037
wolfe  

KaMpeR,

Thank you for sharing this strategy. I look forward to testing this. NO IDEA should be left untested!

EbenB
36
EbenB  

Bliksem Spyker

Hi Kamper,

I like the names for your EA and indicator!

I hope it will "bliksem and "spyker" the market.

Good luck

Wayne Ovenstone
861
Wayne Ovenstone  
ajk:
Like your ea...very interesting exit strategy by ts. I also prefer martingales playing only the reversals because signals in forex are always messed up. .. I have to checkout that spyker ...seems pretty cool...have a lot of uses for that! The only filter I could think up for this ea is a little longer stochastic like 6 4 6 that may help confirm a weakening trend. don't know yet. I don't consider myself a big trader because this stuff is a bieeech. so take anything I say with a grain of salt.!

Hi AJK

Thanks for the observation on the Stoch, would you mind explaining in a little more detail how you see it fitting in?

Spyker is just a rippoff of NewTrend with a few adjustments to suite my style of trading kindly changed by Jimmy.

None of us are "big traders" realy, well I dont think anyway. Those guys are working for furtune 500 companies and no one has offered me a job yet.

So you keep those idea's coming please.

Wayne Ovenstone
861
Wayne Ovenstone  
EbenB:
Hi Kamper,

I like the names for your EA and indicator!

I hope it will "bliksem and "spyker" the market.

Good luck

Dankie Eben, geniet die EA?

I am not running it live right now, but damn I wish I was, Right now Fri 29th @ 13H00 (GMT+2) this thing is about $300 up with a TS running and a new basket is open and that is about $15 up already.

Oh well, you cant win them all?

It can also break your heart so please, don't go rushing it onto a live account, EUR/USD is just having one of those days at the moment.

Wayne Ovenstone
861
Wayne Ovenstone  

Where have all the coders gone?

ross:
Too many EA's not enough time!

Not enough coders either?

Any body know of a decent coder that may be willing to pick up where Barry left off with this EA?

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