Trend following EA - page 3
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hu-man...
my settings are in post #10 of this thread.
i am trading on an ibfx demo (see post #2)
i started with $5000. but for testing purposes i am only interested in a pip count, so my trade size is only 0.01 on a mini account... if it continues to make a positive pip count, it will obviously make money.
also... i am only testing on select pairs..
eurusd
gbpchf
gbpjpy
gbpusd
usdchf
i hope this helps.... good luck.
This week's update
trendfollowingea_1.pdf
Exit Strategy
Hi Suzanne,
Nice job trading and thanks for your contribution. Question: have you closed out any trades manually, or are you allowing the EA to run on its own?
Thanks,
Shawn A.
pfgroup...
glad to help! all trades are closing on their own... most are being stopped out by the trailing stop (set at 40)
Exit Strategy
Using the alignment of an up or down trend across 4 different timeframes and then using a short timeframe as an entry trigger is a good entry for this EA (IMO) however where I think it needs further development is in how and when it exits.
This is something that I did not crack during my initial development and testing.
Any ideas?Hi wyrsav,
I like this EMA very much. My opinion is that when price direction changes, I want to change with it. Why wait in DD while good trading opportunities pass you by? As is, the EA appears to be set up for swing trades even though the highest TF is 1H. I think this EA could take advantage of intraday movements if you could get in a trade for an hour or two then get out.
Suggestions:
In addition to the exits already in use, I suggest adding the following:
Exit on EMA Cross - exit when the 3 and 5 EMA's cross back through the 50 EMA when the lowest 2 TF's (5M & 15M) have reversed. I have currently have 4 open trades in DD in my demo account since my stops haven't been hit yet, even though the 3&5 have crossed back through the 50 on the 5M TF. I think the use of a tighter TP & TS could work well with this - get into a trade, make some pips, get out. Perhaps there is a stochastic way to calculate SL / TP / TS settings per each currency pair to optimize this approach?
Stepped TP with AutoScaling - TP moves up in stepped increments (ex: 10 pips), locks in profits, leaves less pips on the table than a TS.
AutoScaling- Add to the trade size as the Stepped TP locks in profits.
Breakeven Stop - could be used when the market takes a quick reversal after entry - internal value /hidden from broker.
Thanks,
Shawn A.
pfgroup.. i like your thoughts on the exit strategy. hopefully they can be added as an option.
here is the weekly update:
trendfollowingea_2.pdf
4 tf entry genius
Thank you wyrsav and suzannel. I really like this simple straightlined EA but the most I like about this is that it works right out of the box. I have always like crosses and to apply that to the 4 tf's could be very profitable.
What indicator are we using on this EA to determine the trend? Here is an indicator that tells what the trend is for multi-time frames looks good with a ton of info., it would be nice to sinc it with the trend from this EA. https://www.mql5.com/en/forum/176435
The defaults seem to work great but will test this with different tp/sl, I also think pfgroup has something with those stop options...
Pardon me, but just to be clear is there a template to apply this EA to or are there specific indic's that should/need be applied to the chart?
Thank you
Another problem I am having is that there are no SL or TP on my filled orders.
I've reviewed all the settings with DXTRADE, and I can't find the problem.
I changed the common to Allow DLL function calls and it added the TP, but not SL or TS for the last executed order.
Great Ea!!
This is one of the best EA's I have tested from this site.I have it attached to several charts @ 4h TF.It is up over 400 pips in 1 week.The thing I can't figure out, is how to adjust the risk %level/lots to trade.I tried to adjust this setting with out any luck,any suggestions? Thanks.