Question about a possible EA?
I'm sure somebody will code it up for you, but without wanting to be negative, this kind of system has been done to death on this and many other forums (Gimme bars, Vegas etc) and it just doesn't really work in the long term, you may be able to pick out certain bits of chart where it looks good but I assure you these will be outweighed by other bits of chart where it does not do so well. If you really want to progress in trading automation, I would search though popular old threads here (and on other forums), then start doing something completely different, because none of those systems worked.
I'm sure somebody will code it up for you, but without wanting to be negative, this kind of system has been done to death on this and many other forums (Gimme bars, Vegas etc) and it just doesn't really work in the long term, you may be able to pick out certain bits of chart where it looks good but I assure you these will be outweighed by other bits of chart where it does not do so well. If you really want to progress in trading automation, I would search though popular old threads here (and on other forums), then start doing something completely different, because none of those systems worked.
Thanks for your reply, I know the similarity to the vegas tunnel, this is not something I just happened upon or thought of I have been trading this for well over a year manually. I do not have seperate results but it has been a very good system for me. It might be that I just get my pips and secure my trade so I that I very seldom let a winner turn into a loser. I had just wondered what this would look like automated, with a time filter on it, to only trade during the active hours.
Anyway thanks for your reply Craig.
Shawn
You should learn to code, it might be a struggle at first but it will be worth it in the end, it's the only way you can be 100% about what your getting.
I agree I have been working on it.
thanks
I attached your template.
My values for stoch (correct settings) are totally different than yours.
I don't get a single buy or sell.
Its a bad idea to use M1 - its dependent on volatility.
Use M5 or higher.
I attached your template.
My values for stoch (correct settings) are totally different than yours.
I don't get a single buy or sell.
Its a bad idea to use M1 - its dependent on volatility.
Use M5 or higher.That is one of the things I like about the 1 minute for this system you do not get signals if there is no volatility.
Here are a couple of indicators I have for this that might make it very easy. I have included the template of my charts for these as well. I added the standard stochastic in the back ground due the fact I was looking for the ob/os lines and I have not figured out how to add them to the stoch extremes indicator. These indicators will give less signals by waiting for a new high but that is usually a good thing in my books.
Shawn
That is one of the things I like about the 1 minute for this system you do not get signals if there is no volatility.
You do not get signals if your broker doesn't want you. You have a controlled quote flow, remember?
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Hey guys, I dont post here much but have been reading for quite a while I started trading a system a while back, that I am wondering if anyone has seen an EA that could be modified to do what I need. I have been looking but cannot find anything.
Setup:
I put a 60 sma on a one minute chart and then add levels at 20,30,-20,-30. This gives me a tunnel. the theory behind this system is that the price is going to stay somewhat close to the MA on a one minute chart. I then add a stochastic set at 6,12,30 with o/b-o/s set at 30-70. This gives me my trigger. I look for the price to get into the outer bands(20-30 pips away from the MA and the stochastic to be in the o/b-o/s) when the stochastic crosses I buy or sell depending on the position.
Trade management:
I use a 15 pip stop to start with and at 10 pips I close half and move stop to +1. honestly if you just close the whole trade at 10-15 pips the results would be about the same. So I use it as a scalping system but usually it will catch 2-3 good moves per week. very easy to get 20-30 pips per day.
I am thinking this could be easily automated as long as you avoid major news.
Anyone have any ideas?
Thanks in adavance,
Shawn