Ea based on WATL (breakout strategy)

[pelgia]

hi,

i' ve developed this expert advisor based on Wave AutoTrendLine. I like this indicator because it detect major movement of currency.

The core of this strategy is indicator, expert manages information capture from indicator.

This breakout system and it works well on trending market capturing large movment.

I suggest h4 timeframe.

i' ve attached ea, indicator and statement.

this is a row ea to "read" this indicator. any suggestion is appreciated.

thanks in advance

giapel

i' ve updated ea added trailing stops, TP and trading session.

14/03/09 updated : modified trailing stop -function

17/03/09 updated : new feature developed by Enforcer

18/03/09 updated : added code to move SL (based on in/max)->WATL_14_2

[stace]

Respect.

I also like this indicator.

[aelimian]

giapel:
hi,

i' ve developed this expert advisor based on Wave AutoTrendLine. I like this indicator because it detect major movement of currency.

The core of this strategy is indicator, expert manages information capture from indicator.

This breakout system and it works well on trending market capturing large movment.

I suggest h4 timeframe.

i' ve attached ea, indicator and statement.

this is a row ea to "read" this indicator. any suggestion is appreciated.

thanks in advance

giapel

Please could you describe how the EA functions ie when does it enter a trade etc? Thanks

[prasxz]

hi

thanks for share ..I think it's better to place your TP than waiting for EA to close itself, because to prevent if the EA malfunction

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Forex Indicators Collection

[jturns23]

This EA needs TP or TS as an option. Just watching it in backtesting was interesting. It made a buy, was up over 700 pips, kept the trade open to long and closed it at a 300 pip loss.

[pelgia]

developing new feature

hi, many thanks (jturns23,prasxz) for your suggestion. i develop new feature added TP, TS.

giapel

for aelimian : i 'll explin the the ea-logic today.

[pelgia]

rules and updated

now, you can find on post#1 ea updated with TP and trailing stop. i was found it with optimization-procedure.

rules :

the logic is based on pull-bak down and up.

rules to open sellstop

we consider last 2 max, if M1<M2 and m(min)<M2 ea opens sellstop on m.

see graph attached

if you backtest in visualmode ea you can see ea that works.

giapel

[stace]

You are the best man.

I highly appreciate your work and respect you as a trader God Bless you dude

[eljuli]

Ordersend error 130

Thx giapel for sharing this nice EA, but i've a little problem.

I have the ordersend error 130 when i backtest.

Maybe is for my 5 digits broker (Alpari UK).

Can this EA work on 5 digits brokers?

if not, can you modify this ea to work on 5 digits, or i must ˟ 10 tp and sl.

THX in advance.

Excuse for my bad english.

[TeamMoney]

thank you for your nice EA....i tried on back test but seems to be on sell post,the trailing stop is not functioning at all.End up....at beginning profit but lastly it became lost....

[bt062]

i used his 3level semafor, the only repaint indic i ever used.

1] add something to detect obos, rsi/stoch/wpr%/rvi/mom/roc/macd

2] add something to detect trend ma/envelope/alligator/macd

so every peak that generated by watl must be valid

and the break out must be valid to

obos>=<level obos && trend==01 cross over

i used 3level semafor with ma&macd&rsi to detect the (3) is valid or not

the biggest problem must be spike