Is it so difficult to get an answer ?
I have found the following indicator here. `swing line`
Please what i need is very simple. With the following indicator, i want an EA, very simple, take long at the close of the candle if the line become blue, close the long and take a short when the indicator become red. And close the short and take long when the indicator become Blue at the close of the candle. And still like that. Very simple.
About the stop loss, trailing stop and target point we will set it manually when putting the EA. SO they are going to be external variables we can optimize.
There is no difficult to reply.
Simple - nothing to reply yet.
This indicator was created by Mladen for this elite section in the middle of this month. There are many version created:
Swing line indicator is on this post. September 2010 issue of Technical Analysis of Stocks and Commodities, in his article in this issue, “Getting Clear With Short-Term Swings,” author Ron Black provides a straightforward indicator based on price clearing the lowest high after a downtrend, or price clearing a highest low after an uptrend. Multi time frame and alerts already done.
Explanation about how to use this indicator is on this post.
Bars and Candles version of this indicator is on this post.
Histogram version is on this post.
Swing line binary indicator is on this post.
So, as I understand - some small discussion is not finished yet about this indicator and the versions.
As to EA so it is Mladen who can create it (as he is the author of this indicator with many versions).
I think - it is too early now as indicator was created 2 weeks ago and the latest version was posted 2 days ago only: https://www.mql5.com/en/forum/general
Thank you for the explanation
EA: Target equal to Stoploss (TP = SL)
To find EA's with a real "Edge" in it's entry logic, we must find out if an EA is really capable of placing entries at the right timing, meaning that it mostly hits the target before it hit the stoploss. (With TP = SL)
Ok, a lot EA's seem to hit the target before it hit the stoploss BUT if we look better into this, then most of the time this is because the stoploss is put further away than the target, or more dangerous, there is no stoploss at all. Although these kind of EA's can show a very nice growing balance curve, in the meantime the open loss can grow and grow and once it hits the stoploss it eats the profit away resulting that it is not profitable in longer run or even worse, it blow up the account. If we would take a coinflip EA (which enters purely random) and we would make the stoploss value much bigger than the target value it can show the same (dangerous) nice growing balance curve and doesn't even have any timing logic for the entry. (No "Edge")
So in my opinion, what we really need to find is a profitable EA with the Target set at the same value as the Stoploss, this way the chance that the target gets hit is the same as hitting the Stoploss, the only factor that makes it profitable and thus hitting the target more often is a good timed entry logic. (Ofcourse in practice there is a negative influence of the spread, slippage and eventually tradecost, to reduce this influence we could for instance trade on a higher timeframe so we have a relatively bigger TP/SL, or eventually offset these costs in the TP/SL)
When such "TP=SL" EA is profitable and also in the longer run, then we know that the entry logics are timed very good and we can say that we found a real "Edge" for our entries.
Perhaps it is an idea to create a topic in Elite area intended only for EA's like this, that include an extern parameter with one value for both SL and TP, so where SL=TP so that we are able to optimize this parameter to find the best TP=SL for a certain EA and TF, and maybe we can find one that is profitable in the longer run. For longer run it would be preferrable if the "TP=SL" can be dynamic (Adaptive to volatility).
It sounds so simple, but i think it is very difficult to find a profitable "TP=SL" EA. Anyone know of an EA that is profitable when we set the Target equal to the Stop?
Your 3 or 4 favorite eas?
Hello everyone! I am totally new to this forum and I am very happy to be a part of this great community!!!..For the start, I would like to open a discuss about which eas of advanced elite section of TSD (or some other eas) you think are the best to have it to your live account...Waiting for your opinion
2011 trading system for noobies
Hello traders! I'm new around here and first of all congratulations for the amazing site I already downloaded a lot of indicator but i'm having some dificults witch are the best or the most profitable system. Can anyone recommend any good system, template and indicators together, that you use this new year? this way i dont have to read hundred of pages of all threads. Your opinion would guide me. Thanks and good trades for all!
Help with modification
It would be much appreciated if anyone could modify this EA to work with fractional pip broker. I gave it a try but just cant get it to work
Posted auto fractional digit mod here
Thank you !
Email alerter for order/open/modify/close/cancel orders
Firstly thanks for all the MT4 indicators and EA's, but I have a request (my first ever here) which will assist me greatly, and may assist other members too.
Does anyone know of or could knock up an EA which can do the following
send an email alert, when the following conditions are met (I am trying to be as explicit as possible here as I do not want to continually request revisions, pls feel free to add suggestions). All this information is taken from the Terminal, so one would not need to enter sundry info, just use MT4 as normal, and the EA would do its thing after you enter ticket details.
*list of existing orders, if they exist (in case the EA had to be restarted)
*adding a new order
*on open of an order, be it on order or at market price
*modification of an order: size, TP, SL, partial close, etc
*close of an order: complete close, not partial else it is a modification
Email contents would be the usual info (again any suggestions most welcome)
Comment: (User defined static string, anything can be contained in this string)
Ticket#: (ticket value (Order) from MT4)
StopLoss: (optional is used)
(optional is used)
Close: Price on closing the trade
OpenTime: (value taken from Terminal)
CloseTime: (value taken from Terminal|state:trade still open or on order)
Strategy: (again user defined, if required) [currently I swing and scalp trade thus the reason for this, it will assist me in my trading journal in understanding why I take a trade]
many thanks in advance if you can or cannot assist, and for any suggestions
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