This is a moving average trader that I wrote over the past few days for a guy named Andre, a new TSD member. It started with two short period moving averages but it now also uses stochastics and directional index. Try it on a demo 1 or 4 hour but I didn't limit it, so also try it on 15 min or 30 min as well.
Andre says he's going to mainly use it on the EURJPY, EURUSD and GBPUSD.
I've added stochastics and directional index to the trade rules. It still uses the short period moving averages but in a different way. Now it only enters a position when the moving averages, stochastics and directional index agree. It exits when either the moving averages or stochastics disagree with your position. Directional index isn't used for an exit, only as a filter for entry.
I added two sets of rules for trending and strong trending currency pair. I've also changed it so it only trades in a trending or strong trending situation. I also changed when it trades, instead of waiting for a new bar to read the indicators it will now read the indicators every 2 minutes in stock configuration. You can adjust it to whatever you want by adjusting the WaitMinutes external variable. WaitMinutes must be a positive integer.
Andre EA v1.15
TF: 1 or 4 Hour suggested, but try any timeframe
IMPORTANT NOTE: If you are using this expert on more than 1 currency pair then please change the magic number for different pairs. You can change this by going to the Inputs tab right after you've attached it to a chart. The external variable you need to alter is MagicNumber on that list. The one I slapped in there is 112722, so change it to 112723, 112724 or 55555 or 1 or 3223 or whatever. As long as each currency pair gets it's own unique MagicNumber.
A few tweaks found.
Thanks again Nittany, for putting this together so quickly, you did an awesome job!
I found a few tweaks that I already emailed to you that should greatly improve the open order entry signal for the E.A. As it is right now, there are a few fakeouts (especially since the London and New York sessions are closed) that could be avoided.
I'm narrowing down my stop loss to about 25 pips and that may go down even further if we add the 'stop and reverse' feature we talked about.
But on a 4hr TF there is no reason that we couldn't pick up 40-60 pips
per entry signal per trade. And that's only on one pair!
Check out the emails I sent you and let me know what you think. Again great job on putting this together.
Before we try the thing you said in email let's try this other technique I'm curious about. I've added Andre EA v1.1 in the first post - I've added stochastics and directional index to try to help filter out some bad trades. It now uses the two short period moving averages, stochastics and directional index for entry and uses the moving averages and stochastics for exit.
Thanks Nittany, much appreciated. That was quick. The stochs and directional index should help big time.
I'll give it a try later today.
Do we need to have any indicators loaded on the chart or in the indicator folder to make this EA work?
No indicators needed. The E.A uses two moving averages plus the stuff Nittany just added (see previous post).
I'm still fine tunning the SL and TP settings (30 and 60 respectively).
The higher TF is preferred, I'm using it on the 4hr charts.
Please report any successes/failures.
I have had it running now for 5 hours and it has palced no orders......running on Gu....EU and EJ...4hr and 1 hr.........I changed the magic numbers.
So I am unable to say how it works.
Not sure why it isn't running on your platform. It's been opening trades all day on mine. Perhaps Nittany can offer some ideas why.
So far the EA has opened a bunch of trades (about 15) some of them were fakeouts. I'll wait until the London session tomorrow morning when the market is more stable to see how it does. I think the directional index and stochs have definately helped. I do think that we can modify the entrry signal a little (per my email yesterday) to cut back on some of the fake outs.
OK I'll read it again, see what we can do. Maybe I can add ADX in addition to using just the two directional indexes by themselves.
can i get the last TPl with indicators you r using
Here is the template I'm working from to write this expert. If you want to manually trade or something.
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