can anyone answer this question just starting to test this. Leaving the ea to default settings means the ea has no take profit, stop loss or trailing stop loss. Inspite of this how does the ea close a trade? Is it a stop reverse system?
This EA opens a trade when the stochastic leaves the "overbought" or "oversold" zone, in otherwords is moving decidedly up from 20 or down from 80 on both the 30 min and the hourly chart (I think, from memory).
It closes when the Williams %R on the one hour chart reaches a peak. It was written for the EURUSD, and can be modified for other currencies perhaps by changing those parameters. When I get some time I'll amend the EA so that those parameters are changeable externally, although it is currently performing well on forward testing on various currencies. I do however think that a trading time filter will help - cut out monday mornings and friday afternoons.
It is NOT a stop reverse system. When a trade is closed it does not mean there is an appropriate setup for a reverse trade.
The EA is programmed to trade when the moving average supports the direction of the trade (buy or sell).
The danger is when there is the very occasional sudden reversal in trend and the Williams %RSI may therefore be a little slow in reaching its limit. In that case the drawdown may be bigger than desirable if the reversal is sustained, and so placing a large stop loss as equity protection may give some comfort. The way it is designed it should never chew through your equity, the close trigger kicks in before that happens. But on backtesting the stoploss has not proven necessary and instead cuts short otherwise winning trades.
That does explain a few things and clear the cob webs from my mind to shine the "Light"
In my 5 th trade on a $2000 demo standard. The program seems to increase
the lot size on its own which is good. However like my current trade on eur/usd on the 9th at 1.3028 for going long has a drawdown of $ -950 so far. It should go up. Can a feature in the ea be integrated that if one trade is in a huge drawdown other positions are not opened
Besides that the ea seems to be working great. Anyone tested this on a 5min and daily chart and what were the results
i've tried this ea on a micro account and it dosent seem to open any trades, i have it on a standard demo account and it opens trades. is it just me or does this ea not work on micro accounts.
Try taking out MM
That seems to be sorting out the trade size starting at 0.1 - in my case I will be manually amending and adjusting this to match my risk profile.
Expert do not work
Stoch do not work
For me is not work in IBFX
I'm running it right now on an IBFX mini with 12 pairs.
Works fine - not one problem.
i ran it on ibfx for 3 days wih no trades. chicagorob are you still using the settings you posted before.
can it change from wpr% to laguerre, make it more clear in obos
Yes, still the same settings. I currently have four open trades and the
neg float is starting to rise(10% of balance). I'm hoping it doesn't
become a problem.
If you only have two or three pairs, you won't see many trades - it's
the nature of the beast.