# EURGBP idea needs refinement by experts #
didnt find the option to edit my post. i'm attaching a perview:
Hello. Fxnewbie, I wrote an EA according to your guidelines. Looks that it too little specified, so I will try to add some floating border for the night box.
EA does not draw lines on chart but works as you said here.
properties:
look at names,
tolerance - distance between box horizontal (price) borders and entry for a position.
check for different setup of TP and SL.
works with M30 only, properties for 5 decimal accounts.
regards
Hello. Fxnewbie, I wrote an EA according to your guidelines. Looks that it too little specified, so I will try to add some floating border for the night box.
EA does not draw lines on chart but works as you said here.
properties:
look at names,
tolerance - distance between box horizontal (price) borders and entry for a position.
check for different setup of TP and SL.
works with M30 only, properties for 5 decimal accounts.
regardsTks. Swees.-
I will check when your attachment is aproved. I suggest to use the other side of the border for SL.
Now, If you want to improve your EA performance, I think you can add a moving average, lets say ema 36, and trade the break of the box only in agreement with ema 36. I mean if the box break long and price in that moment is above ema 36, the EA take the trade. It have sense to you ?
Hi,
EURGBP is a pair I trade in my strategy (of 10 pairs, semi-automated) and one that I like a lot. It has a special "personality".
But I also trade the pairs on the daily bars manually. I only simply use the Center of Gravity indicator for that. I attached a pic of eurgbp which I took a second ago. It might help you see the longer term trend.
Hope this helps,
Happy trading
Ms_Mel
Hi,
EURGBP is a pair I trade in my strategy (of 10 pairs, semi-automated) and one that I like a lot. It has a special "personality".
But I also trade the pairs on the daily bars manually. I only simply use the Center of Gravity indicator for that. I attached a pic of eurgbp which I took a second ago. It might help you see the longer term trend.
Hope this helps,
Happy trading
Ms_Mel.....But he is targeting only 11 pips a day (20 in this case). So EA has to trade in very accurate way. Not too much room for mistakes or to hold price movment against the trade..... 
At first glance, it doesen't seems too bad. 
SL need to be worked better. Other thing I notice, is that EA, once has opened the trade, leaves opened until sl or tp is hitted. THAT'S A MISTAKE...(mine, I am afraid... coz I didnt explain that part to U)!!!
The concept is ONE DAY, ONE TRADE. So, Ea has to close his trade before new day candle open, no matter if is in profit or loss, and begin fresh the new day for another trade. I suggest that your EA close the trade 10 candles before new day candle opens, not matter is in profit or loss.
Adding that feature, many of large loses the ea has (if not all of them) can be avoided having little loses in exchange, but next day, in all cases, will give your profit back instead of a large loss. Check it.
I agree to mantain 100 pips SL, but only as an emergency SL that will rarely be hitted if trade is closed 10 candles before new day candle (if TP or SL is not hitted).
But still, looks good !...congratz.
PD: Swees...Can you also add an option for lot increase, in order to make this EA a real scalper?... coz having high hit rate, 20 pips a day can be 40 or 60, according trader's risk tolerance.... That will be really interesting to archive !!!
I agree to mantain 100 pips SL, but only as an emergency SL that will rarely be hitted if trade is closed 10 candles before new day candle (if TP or SL is not hitted).
What I said was the EA is prepared for 5 decimal accounts. As I see, youre using 4 decimal broker, bo my *Point is 10 times smaller than yours. So, in order to have the same results as me, youve got to set TP = 9 and SL 10. It also will cause trade closing before next day.
PD: Swees...Can you also add an option for lot increase, in order to make this EA a real scalper?... coz having high hit rate, 20 pips a day can be 40 or 60, according trader's risk tolerance.... That will be really interesting to archive !!!
Obviously, I will. At first, a wanted to check accuracy of your strategy. But i really needs improvement. My tester shows 31% win rate since the beggining of the year 2009.
Best regards.
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Hello. It's my first post here though I read this forum quite frequently. I have been developing plenty of my trading ideas in MetaTrader, but always there was that flaw which made them useless
Now I came up with an idea for EA looking quite reliable but probably lack of my expirience forces me to ask you respectable Experts for help.
EURGBP seems to me the best pair for that strategy because of silent nights and active direction during european sessions which all look periodical. I'm using 30M or 1H chart and ATR(14) with EMA(14) on ATR (when 30M, for 1H a LWMA(10) looks better). This points the start of traders activity and so the trend for the day. A safe TP I assumed is 8.5 pip + spread (Alpari UK has around 2.0-2.5 at this time) and the plan is to make one such trade a day (also due to guidelines).
My question is about the way to see the trend at the point mentioned above. I tried Stochastic with different parameters (5,3,3; 14,3,3; 14,5,8 and more), RSI(14) with MA on it, CCI with MA on it, relation of EMA(4) to LaguerreFilter(different setups), but those dont give satisfactory and reliable outputs.
Kindly please think of any method that could provide an accurate and stable trend predictions for those 11 pips a day. Maybe multiframe or some indicators that I dont know. Please share your ideas, best if you would support them with screens or tester results and there is an opportunity to build another profitable EA.
best regards
swees