Calling EA Without Indicator

[foxnet]

Dear Senior Members and Coders,

I am newbie in forex but i would be very happe if someone can help automate my trading system that is related with opening price day? Does anyone have EA related with opening day price, Please share with us!

Much thanks for your kind sharing

[Sergey Golubev]

Thanks a lot.

Original idea is good.

But it should be improved anyway.

Does anyone have some ideas?

Because it was many requests to create Eas based on open price an finally mladen did it.

All we need to do is just to improve is slightly by ideas.

[Mladen Rakic]

You changed your post before I had a chance to post this replay, but here it is...

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Now, if I remember correctly the request was something like this : to open order if it reaches the day open price +- 5 pips, take profit 30. If the price retraces back over the open price, the order should be closed

This EA does that

Parameters are more or less "readable" except maybe fr the Trade.openAt parameter : it is the distance in pips from the open price that the EA should open orders at (the 5 pips from the original request). I took the liberty of changing the default to 10 since 5 pips is way to small a distance (just my opinion)

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Attached are the results for Trade.openAt == 30

PS: forgot to tell that tests are at 1 hour time frame, but it is completely the same at which time frame you test it or run it : it is time frame independent (it does not depend on the time frame)

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regards

mladen

foxnet:
Dear Senior Members and Coders,

I am newbie in forex but i would be very happe if someone can help automate my trading system that is related with opening price day? Does anyone have EA related with opening day price, Please share with us!

Much thanks for your kind sharing

[Sergey Golubev]

I tried to find good settings and I found something as the following:

TradeTime.startHour = 3; //3 for IBFX, 5 for Alpari

TradeTime.startMinute = 0;

TradeTime.endHour = 23;

TradeTime.endMinute = 0;

Trade.openAt = 50;

Trade.takeProfit = 70;

Trade.lots = 0.01;

Slightly backtested with new settings for last month just to see how it works.

USDJPY:

AUDUSD:

But as market is changed so it may be good to insert some Average True Range or similar (same with Electra or Alpha EA) just to unerstand: to trade or not and to select Trade.openAt and Trade.takeProfit automatically based on volatility.

Just an idea.

[Mladen Rakic]

...

Added the ATR

Interesting results (even from EURUSD point of view)

_________________

New parameters :

UseATRForTrades- if set to true a sort of ATR is used for entries, otherwise "pip" entries are going to be used

Atr.takeProfit- multiplier for take profit if ATR used

Atr.openAt- multiplier for entering trade if ATR used

Atr.timeFrame- time frame to find the ATR range

Notice : ATR is not the same as the built in ATR - it uses only high-low ranges for calculation, and, to avoid the silly sunday data impact on ATR, sunday data is ignored (so, more or less, it behaves the same on any broker)

newdigital:
I tried to find good settings and I found something as the following:

TradeTime.startHour = 3; //3 for IBFX, 5 for Alpari

TradeTime.startMinute = 0;

TradeTime.endHour = 23;

TradeTime.endMinute = 0;

Trade.openAt = 50;

Trade.takeProfit = 70;

Trade.lots = 0.01;

Slightly backtested with new settings for last month just to see how it works.

USDJPY:

AUDUSD:

But as market is changed so it may be good to insert some Average True Range or similar (same with Electra or Alpha EA) just to unerstand: to trade or not and to select Trade.openAt and Trade.takeProfit automatically based on volatility.

Just an idea.

[foxnet]

Thanks to bro Newdigital and Mladen for the ea building.

[Sergey Golubev]

Thanks a lot.

I edited this post https://www.mql5.com/en/forum/176044/page3 of elite EAs' thread.

[foxnet]

EA without Indicator

Thanks so much for your quick response.

I am sorry because i have change the post,

The basic idea of this ea is from my brief research that forex market movement always range from open to close and it has low and high price as we can see from the candle. It ranges approximaltey from 50 to 300 pips every day from the opening market to closing market time.

The range depends on the currency volatility, the GBP/JPYmay rang approximately from 150 to 300 from the low to high everyday and from open to high or low is approximately 150 pips.

From this fact, basically we can grab profit in our trading although we do not use any technical indicator.How to grab the profit? Ok we grab the profit by taking correct position from the opening day price. When we take buy position from the opening market, and the market is bullish, we may have high probability to grab 150 pips without using any indicator. Likewise, if we take sell position, and the market is bearish, so we have high certainty to get 150 pips. It is reasonable.

The problem is; trading from opening until closing market in front of the monitor is such boring thing and takes much patience, and consumes much energy and time.

So thanks God with the technology, everything is easy, we can do it easily with your help in building EA.

Another problem in implementing this idea into EA, in my opinion, is taking correct position in the opening day wheter we take buy or sell because in the market opening time, the price frequently goes up and down around the opening day price. So i suggest 5 pips or more below or above the opening day price to take action buying or selling.

But I think my senior brothers coders and programmer can solve this problem easily.

The best trading with this idea is using daily time frame.

The ea can be closed by setting TP or Ending Time. It can be close by targeting 130 pip, when it reach the target pip the EA close the position and wait to work tomorrow in the opening day or by setting time at 23:00 server time. So although the EA does not reach the target pip, it closes at 23:00.

Thanks

Afdhol

[Sergey Golubev]

The new EA was published on CodeBase.
It may be the next generation of the EA for MT4 which was uploaded here on the thread by two versions:

• DayOpeningPrice EA (first simple version ) - post #2
• Next version of DayOpeningPrice EA which is using ATR to find high-low ranges for calculation - post #4

So, please find Yesterday Today New EA below (it is not the conversion of  DayOpeningPrice EA from MT4 to MT5; it is totally new EA which may be related to the original idea of this thread).

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Yesterday Today New - expert for MetaTrader 5

The Expert Advisor compares the High and Low prices of yesterday and the Close price of the current day (we compare only at the moment of the birth of a new bar on the timeframe where the Expert Advisor is launched). As soon as the current price breaks through the High or Low of yesterday, we immediately open a position. If the Stop Loss and Take Profit parameters are not equal to zero, then the position will immediately have Stop Loss and Take Profit levels, respectively.