Simple support and resistance trading - page 2

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renegado

Nice going. Glad to see you got your feet wet, coding is not that hard once one makes his mind up to jump in and learn. Will be looking over your code tonight, hope to see more of your work in the future.

Keit

 
renegado:
After realizing I don't like trading with indicators I finally got round to working on the code for this EA, and I must say it was pretty darn easy once I got to use the "ObjectGetValueByShift" function I found as a result of Keit's hint related to "Object functions" (so thank you bunches!).

Thus, it is ready, and instructions for the EA are within the code, and besides, the code is pretty straightforward and self-explanatory! :P

Safe pips to you all, and happy shorting the GBPUSD 'till it's 1.36!

Renegado

hi renegado,

thanks for coding the EA. i would say that u believe in price action.

Are u using fibo pivot to determine the support & resistance?

 

Not really

dazrul:
hi renegado,

thanks for coding the EA. i would say that u believe in price action.

Are u using fibo pivot to determine the support & resistance?

No fibo pivots or anything like that. Just plain old trendlines.

The problem with trading like this is that trendlines are just too subjective, and thus emotions can get in the way.

Renegado

 

Update

I see this post and its contents are significantly old, I was just inquiring on an update and seeing if you're still using this EA and its methodology for successful trading....

 

renegado

start by learning goto the dictionary and read about object funtions and pay mind to the object find function.. when you draw a line on the chart just call it by a name that your ea will be looking for. any ways read and you'll get the idea of what needs done.

CockeyedCowboy

 

I TRIED LOADING UP these EA, doesnt work on IBFX (5 digital) nor 4 digits broker (IKON Royal)..

something wrong? in backtest no orders taken

 

Anyone have any results on using this EA?

 

May i know how to back-test this type of EA using the MT4's Strategy Tester? As this EA requires manual drawing of the trendlines.

 

could try eur/chf

it move between 1.201 and 1.200 i.e. 10 pip

while the pip spread is 3 to 4 pips, so you could gain 6 pips in each cycle

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