Mean Reversion EA

[Beno]

I have been trying to create a mean reversion ea using a zscore indicator.

what I have been attempting to achieve is an EA that has MTF zscore indicators all working on the one charts i.e. if I place the ea on a 1hr chart I will have the 5,15,30,60,240,1440min lines all moving and generating signals. At the moment only one is moving and that's the chosen TF. My question is can this be done.

I have attached my efforts so far.

This is just and idea it might be rubbish but it is still and idea

Cheers Beno

[Frederik Gert Johannes Breytenbach]

EA and indicator fixed

Hi Beno,

I hope this help you. I've modified your indicator zscore6 so that it show the zscore on your graph (6 lines) and I've also added a label so that you know which value is which.

Then I've created a new indicator called zscore1_timeframe so that you can use it in your EA. The EA will set the different timeframes. Also note that I deleted the barstocount in this indicator. There is still something wrong in the EA because it get stuck after a few trades and didn't open or close trades anymore. If I have time i'll try to find the problem. This should help you in the mean time.

Please let me know if you have fixed the EA. Their is a problem somewhere else (not the custom function)

Good luck.

Derik

Ps. I've also saw this thread:

https://www.mql5.com/en/forum/176527

[Frederik Gert Johannes Breytenbach]

Hi,

I've fixed the indicators. The previous ones divide by zero because you use a time period of 60 and I used the bars-20 as counter.

for(int i = 0 ;i <= limit-60 ;i++)

The EA problem is due to the pending order placement. The EA place a pending order on the USDJPY (test period 2000-2007). This pending order must be deleted after a certain period because the price never moved lower than the trade early 20000104. The EA doesn't remove these pending orders and no more trades is opened after that.

Good luck.

[Frederik Gert Johannes Breytenbach]

EA fixed. I've removed the remorder and replaced it with TimeCurrent()-OrderOpenTime()>6*3600. This will remove any pending order after 6 hours or (6x3600) seconds. Here is the latest EA and indicators.

[Beno]

Thanks derikb

You must have the fastest fingers in the west. I am still trying to figure out the first part of the problem.

cheers Beno

[mezarashii]

I've been referenced for a system I can't begin to understand. What is the zscore indicator doing?

[Beno]

The zscore measures the number of standard deviations from average closing price over a set period. It can be use like an over sold and over brought indicator it also can help pick trend change very early. well that's what I have read so far

[mezarashii]

so its only measuring the standard deviation of the price on the given chart? what are the levels to look for on a reversal level? COuld you post an example chart for me to see this in action? thanks