This EA was created within this section (elite indicators' subsection) and I created this thread just for this EA only.
This EA was coded by Tradefx1 using Mladen's Elder Impulse indicator.
It is what he wrote:
Up to you to test it and modify parameters.
All Elder Impulse indicators coded by Mladen and posted in this elite section:
234. Elder Impulse - nlma indicator is on this post. It is converted to non lag ma completely (even the signal line of the macd is calculated as non lag ma and not as ema).
Elder Impulse - mtf and Elder Impulse - mtf & histo indicators are on this post. It is a classical mtf and that way we can attach multiple time frames to the same chart. But as it is hard to separate them in some situations when they overlap so please find a histogram version of it too.
SubChart & Elder impulse indicator is on this post.
Elder auto envelope indicator is on this post. Elder auto envelope. To turn of the FastEma, set the FastEmaPeriod to less than 1.
Elder Impulse - nlma for EA indicator is on this post. We have 3 possible values now for EAs creation : +1 -> impulse up; -1 -> impulse down; 0 -> neutral.
Elder safe zone indicator is on this post.
Improvements and the versions.
1. Original source as very first version can be found on this page and this one.
1. Elder impulse - nlma for EA indicator from this post
2. Elder Impulse EA - see this post for the first version.
Elder Impulse EA improved version is on this post.
I am not sure which file is used in this EA - we will see it during the possible improvements and forward testing.
This post will be edited for something new.
More to follow ...
I did not have time to look/trade by this EA but what I found looking at the soure code.
MagicNumber = 00110011;
EcnBroker = true;
NoHedge = true;
UseAutomaticMM = true;
AllowMultipleTradesOnBar = false;
AllowTradesOnEverySignal = true;
AllowOnlyOneActiveTrade = true;
Risk = 5;
BaseLot = 0.1;
CloseOnTrendChange = false;
So, those settings/parameters do not need to be explained. The EA is having magic number feature (it can be trades by many pairs/timeframes on same Metatrader's terminal account), it can be used for stp broker such as IBFX or FXCM for example.
Very interesting settings/parameters are the following:
As I understand - all those features are per magic number. For example, if AllowOnlyOneActiveTrade = true so it is valid for partiular magic number.
EA is having very extensive TimeFilter.
Tere are some hidden settings which can be changed from inside the code. For example:
It means: EA can work for 4 or 5 digit broker irrespective of the settings. EA will automatically detect this 4 or 5 digit. We do not need to change anything in this case.
EA is using the following indicator as icustom function:
Elder impulse - nlma for EA
It is exact name of this indicator.
This indicator should be inside indicator's folder of Metatrader's directory and it should be compiled in MetaEditor.
Indicator is on this post.
About this system.
EA is very advanced coded but the system is very simple.
As Mladen said - the indicator is having 3 possible values:
+1 -> impulse up
-1 -> impulse down
0 -> neutral
Buy signal if
0 for previous bar or -1 for previous bar and +1 for current bar.
Sell signal if
0 for previous bar or +1 for previous bar and -1 for current bar.
I am not sure about current bar.
Because any indicator's value is changed for current bar because this current bar is continuing painting. It is not closed yet.
Current (or open) bar is bar #0.
Previous bar is bar #1.
Bar before previous one is the bar #2.
I think - it should be considered the bar #1 and bar #2 because those bars are closed and values of the indicators will not be changed.
If I am wrong so sorry.
It is what I see before testing this EA.
I think you're right about the close bar. I tried to make it work with bars 1 and 2 instead of 1 and 0, it gives less orders but better quality.
Then, I think using an EA with only Elder indicator gives very "impulsive" signals, and it has not a lot of sens. I think we should add one or more filters.
I tried with just an EMA , but we could add other filters like RSI, pivot points, etc...
Already with this ema filter results are more stable and better on EURUSD H1.
I joined EA with ema and bars 1 and two and performance one year. Parameters SL 70 TP 0
Performance with different SL & TP
Performance with sl50 tp 70 and sl50 and tp100
I corrected the first post of this thread with the version from the post #5.
I think - I can forward test it and we will see - to improve and howto.
Thanks for your Ea, looks interesting, hope you don't mind i took the liberty of doing some minor changes, first made the settings external parameters so they can be user interchangeable, second after seeing Mladen's H1 elder on m15 chart added mtf capabilitiy for the ma and Elder Impulse nlma and i like you think it may need just a little something more, just haven't figured out what yet!
ps) updated with extern int ElderTf = 60; instead of 69. sorry for any inconvience caused
I updated this post and first post of the thread with new links.