# Daily Breakout EA - page 10

hova:

I think, if yesterdays-High and yesterdays-Low are too close to each other, stop loss of high and low would be above the other order ( stop loss of short above limit buy) and this is where Addpoint comes in.

In the case that stop loss of the short order, Addpoint would decal the givin points.

So if stop loss is 1.5000 and limit buy would be 1.4995 (assuming that yesterdays high is 1.4985) Addpoint would place stop order @ 1.4975 (standard setting Addpoint = 10)

EA Code is following:

if(Bid-Low[1] < stoplevel) sellPrice = Bid - RangePoint*point();

else sellPrice = Low[1] - AddPoint*point();

Correct me if im wrong, but i think thats it.

Conclusion about BEP + LockProfit following these days...

Hmmm... im sorry but i don't follow you to 100%.

So if stop loss is 1.5000 and limit buy would be 1.4995

You mean that in your example the SL for the short order is higher then the entry for a long order?

Addpoint would place stop order @ 1.4975 (standard setting Addpoint = 10)

If addpoint is set to 10 it puts the SL for the short order 10 pips below the entry of the long order?

If this is the case the name addpoint might be the part that confusses me because in your example we don't add 10 pips to the SL we take 10 pips off of the SL.

As i said i am not sure if this is what you mean so please confirm or explain in another way.

Altough i must say about this addpoint... if it is like i think.... is no good to use. Backtest results also show that using addpoint makes the equity curve less profitable.

And it is kind of logic... If previous day is so damn small in range that it isn't even more then 50 pips (if using 50 as SL) then addpoint suggest to us to use it so that our SL is hir before the revers order is hit (if not deleting opposit). But decreasing the SL also makes less room for the price and we then have more risk to have our SL hit.

My personal view is also that the high and low of a small range for previous day is less worth then high and low of a large range the previous day.

But i don't even know if i understood the addpoint so this theory could be wrong as well...

Regards / JoLi

jolimoney:

You mean that in your example the SL for the short order is higher then the entry for a long order?

Yessir ! You got it right

hova:
Yessir ! You got it right

I have put the EA on a demo account now and i have addpoint at 0... just to see what was going to happen...

The EA puts on orders exactly at yesterdays high and low if addpoint is set to 0. This means that the addpoint is more a buffert level for the breakout and not some "stopp loss adjusments".

Please correct me if i am wrong...

Regards / JoLi

hm....i dont know

*looking 4 coder again*

hova:
hm....i dont know *looking 4 coder again*

Agree... or at least that the programer of this EA show himself and explains the different parameters... But it seems like both the creator and the programmer of this system has abanndon theis thread.

Regards / JoLi

I am runing this EA at a demo account right now. Last week i didn't see any strange behaviour but this week i have seen two strange thing.

I use DAily TF GBPUSD.

1. The candle of last friday has a high of 1.66746 and a low of 1.64598.

But the EA putted on a buy order at 1.66746, which is correct since i use 0 in 'addpoint'. But the sell order was set at 1.64729 and not on the previous candles low....

Yesterday didn't breakout either at low or high so no position was initialized.

Someone who knows why?

2. Today no buy or sell orders have been put on at all. As i understand it it should have but i buy order at yesterdays high and a sell order at yesterdays low. But no order at all is active.

Someone who knows why?

Regards / JoLi

Wats a Range point

Hi Pri, Thanks for the EA. Can u eplain what is a range point and how u use it? and when u place a Value, start,stop step what are all these parameters for?

lets say from the default i want to test h1 tp 10 SL 12 what do i change and what do i leave alone?

Thank you

I like easy strategy and EA base on this easy. I will try this EA, if it works i will modified and add somethings to it. Thank you

[Deleted]

I agree, Ask the coder to hide the pending orders and send it just before it is needed.

ES

et_phonehome_2:
Have you actually traded this live? I have issues when I put S/L of even 20-30PIPs where the broker takes me out.

BarHiLo_4