New EA for 10 or 20 profit per hour/day - page 2
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Hi
The biggest problem of all the intraday t/a based systems is the signals come too late to be of any use.They are lilke moving average crossovers which are almost always too late.
What are the indicators used?Are they giving advance signals ? No!
I suggest you use this attached support and resistance indicator to complement the above strategy .Put your indicatior settings to 180 min to
600 min................and if indicator and support and resistance confirm entry,then enter trade.
Buy when the previous support is touched and sell when iprevious resistance is touched
Regards
El Cid
Hi i didn't tested for an entire week yet, the problem is that the EA is not really complete, i'm testing it for 3 days, but sometimes because the lack of rules that i was not able to put in EA because i do not have the enough skill.
From now the EA got about 150 pips in 3 days, but because it does not follow all rules it already lost 200 pips.
I'm trying to learn more about mql4 language to improve the EA, and will update it on the post for more backtest. If someone wants to try it with the rules i've made you can be sure the EA will be very profitable. If nobody codes the EA that's fine, i'm coding it already and i'm planing to finish it at 16 October for more backtest.
TakeProfit at 10 is good but StopLoss at 10 is tiny, since my broker charges 8 of spread on GBP/JPY. Anyway, i'm planing to stick with just tiny spread currencys like EUR/USD, GBP/USD etc..
Thanks
Hi guys i've found this good EA that will take care of the intelligence of this EA for us. I'm attaching it, the EA now just needs to follow the rules of the image that is on the first post.
Hi guys i've found this good EA that will take care of the intelligence of this EA for us. I'm attaching it, the EA now just needs to follow the rules of the image that is on the first post.
So a coder needs to combine the two? I would like to try this system but with a properly working EA. Hope a coder can attach one here soon
Thanks
Hi guys thank you all for the replys, i just wanna to say that my EA does not follow the rules, just the basic rules. You guys take a look at this picture here:
It shows what is the rules to follow.
I'm working on the EA too, but it will be slow because i'm learning mql4 yet.
Thank you,
Emulatore
Hi guys i've found this good EA that will take care of the intelligence of this EA for us. I'm attaching it, the EA now just needs to follow the rules of the image that is on the first post.
Hi emulatore. I coded my own version of your strategy and I regret to say that according to Metatrader's Backtester, it is not profitable
Before I post it, could you please confirm that the following criteria are correct, using Buy as an example, M1 timeframe.
1: Buy when Laguerre1 (0.55) and laguerre2 (0.85) are 0, and price is above 60 and 200 SMA.
2: Close position when Laguerre2 falls below 0.85 - unless of course hard-stops SL 15, TP 10 are hit beforehand.
The info you give on the bollinger bands is too 'vague' to code imo so I did not try that. Also, I have not coded a trailing stop, SL break-even +1 etc. as you suggested (yet). It actually shows a profit if you discrease the TP, increase the SL and disable the "...falls below 0.85 code" on M1 but this is not reproduced on other timeframes, so is probably an artifact of the M1 timeframe...
I would like to test it to
Please post it if it does follow the correct rules.
We all know that backtesting is not reliable because I was told that backtest history only holds Highs and Lows so EA's that don't solely work on monitoring the previous Highs and Lows of the charts will not work properly.
Thanks
Hi emulatore. I coded my own version of your strategy and I regret to say that according to Metatrader's Backtester, it is not profitable
Before I post it, could you please confirm that the following criteria are correct, using Buy as an example, M1 timeframe.
1: Buy when Laguerre1 (0.55) and laguerre2 (0.85) are 0, and price is above 60 and 200 SMA.
2: Close position when Laguerre2 falls below 0.85 - unless of course hard-stops SL 15, TP 10 are hit beforehand.
The info you give on the bollinger bands is too 'vague' to code imo so I did not try that. Also, I have not coded a trailing stop, SL break-even +1 etc. as you suggested (yet). It actually shows a profit if you discrease the TP, increase the SL and disable the "...falls below 0.85 code" on M1 but this is not reproduced on other timeframes, so is probably an artifact of the M1 timeframe...The Rules
I would like to test it to
We all know that backtesting is not reliable because I was told that backtest history only holds Highs and Lows so EA's that don't solely work on monitoring the previous Highs and Lows of the charts will not work properly.
ThanksNew Rules for Entry and Exits - Updated 30th Sep 2007
This filters out the noise in the 1 min entry and exits. Works good on other time frames as well.
Indicators used :
LaGuerre 1 ( for entry ) - Gamma 0.55, levels 0.15, 0.45, 0.85, bars to read 9500 color green
LaGuerre 2 ( for exits ) - Gamma 0.85, levels 0.15, 0.45, 0.85 bars to read 9500, color red
and Bollinger bands - 20, 0 and close ( default) ( This is very imp indicator as in uptrend the middle bollinger acts as support and in downtrend it acts
as resistance )
Highly recommended - EMA 200 ( Red ) and EMA 60 (Blue) to find support and resistance
Rules for Entry & Exit
=============
Entry Long : when Laguerre 1 is above 0.15 and pointing up
Exit for Long is when Laguerre 2 goes to top and turns down to 0.85
Entry for Short : when Laguerre 1 is below 0.85 and pointing down
Exit for Shorts is when laguerre 2 goes to 0.0 Level and then turns up above 0.15
TP is when you exit or 25 pips, whichever comes first
SL is 20 Pips from entry at all time
I see that people are getting confused regarding the second Lag,
There is no hard and fast rule that the second lag has to come down and then go up. Take profits as it comes. The second lag is only for use to gauge if we are exiting early or we can hold on more
Pls rememeber, if you doing trades on 1min chart, try to always move ur stop loss once u have 5 pip profit, as market moves are very fast in gbp/jpy
so protect your profits at all time. Keep moving your stop loss every 5 pips or set trailing to 5 pips and sit back and relax.
Below are 2 examples , first is the 1 min chart where we have closed our trade and second is the 5 min chart where we would have exited the trade if only the first Laguerre was our only indicator, but by adding the second laguerre , we are enchancing our profits by almost 2 times...wow..this should really be tested by all on Demo or Live accounts and feedback is eagerly awaited.
Simple Method of Scalping GBP/Jpy on 1 min chart-by Imran Sait-Updated 2nd Oct 07 - Page 72
Hi guys thank you all for the replys, i just wanna to say that my EA does not follow the rules, just the basic rules. You guys take a look at this picture here:
It shows what is the rules to follow.
I'm working on the EA too, but it will be slow because i'm learning mql4 yet.
Thank you,
EmulatoreMaybe your already aware, maybe you have a different user name on the FF forum but these guys are also working on an EA for this system as well. Maybe you guys can join minds and get a properly working EA for this system;
Simple Method of Scalping GBP/Jpy on 1 min chart-by Imran Sait-Updated 2nd Oct 07