AMAZING! Very profitable EA - 5MATF - page 4
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i've been testing this expert but notice that when opening the trade it doesn't put the Stop Loss and Taking profit im i doing something wrong?
Many thanks
et al....................
sorry to inject a dose of reality to the thread.
please continue to develop and tune your code.
when you have it tweeked, start posting up the trading statements, weekly .
get 200 real time trades under your belt , so you have real stats. to evaluate..........
pls prove me wrong.
s.
HughGon
Please verify that you are using v2a and not v2 as v2 definitely had this problem, also let us know which currency and time frame you are using. Knowing your broker, ECN or not and 4 or 5 digit quotes is also beneficial.
hello Tzuman, im using 5MATL EA V2a, With ActivTrades, 4 digit, the major crosses EURUSD GBPUSD USDJPY USDCAD, with 1 minute tf ...
i've changed Expert to work with 1m, 5m and 15m tf....
Thanks for help
Version v2b
Here is version 2b.
The major corrections pertain to stop losses.
First if the EA should fail to put a SL on the order and you have specified a Trailing Stop, the Trailing Stop will be immediately used as the SL. This applies mostly to ECN brokers which I use. I also included some error checking when orders are placed and the errors will be presented in screen alerts,.
Secondly, I changed the default stop loss from 5 to 15 pips as I found orders were immediately getting stopped out. In addition, I changed the default Trailing Stop from 0 to 10 pips as a way to protect profits. And finally, changed the default time frames to 5,30,60 which is what I am using in testing.
The only known error is when you display the 5MATL display on the EA, it is only visible if the chart is full screen,. If it is not, then the display is hidden when the chart is resized to a smaller size.
There are a couple of structural issues to resolve.
First, if a TakeProfit is enabled, the EA will close the open order when the TP is reached. Immediately if the trend is still in effect, it will open a new order and if the trend is long enough close it and open another order, etc Eventually, the trend will reverse, and the last open order will close at the SL. Today I found that the trend mostly reversed during the second order, so overall profits were greatly impacted. I feel this characteristic of the EA is counter intuitive to using a TP target as you lose both by the stop loss and the additional spreads.
Second, the EA seems like it needs to have a non trade time filter. I have noticed tonight after the NY close that it has been stopped out three times because of the low ranging market. We should evaluate other indicators like the iVAR, SSA etc to try to keep out of non tradable markets or implement trading time restrictions, suggestions?
Third, I think we need other types of stop loss calculations like Parabolic SAR or Turtle stops. For the former, we may also use it as a filter for placing orders.
Finally, I am going to slow down on new releases unless serious errors are found as it is difficult to digest them. When you install this release, don't forget to update your TPL and Profile files as they contain references to the older version.
Enjoy
OK nice its working, tell me one thing what do i need to change to expert do exactly the opposite of what it does, in other words i want to change the buy order to sell order and Sell to buy order...
Dont if i've been understandable
multiply the signal by -1
Hi Tuzman
Thank you for your efforts in tweaking this EA. I am using the latest version, should I just use the default settings and attach it to only one chart (EURUSD M5)? is this done by choosing the 5matf template ?
any help would be appreciated..thx
Hi CRK,
the defaults should be fine for the 5M. I have been testing it off and on and have found that its performance is atrocious. This appears to be caused by the Take Profit and trend recognition process. What happens is that it opens an order and if the TP is reached, then it opens another etc. Eventually the trend ends but it takes a while for the software to recognize it so the gains fall back to the SL. On a 15M test, it lost over 20% overnight. I am setting up to retest with a much larger TP and a tighter SL.
The concept of the EA is that it has 5 moving averages and 3 time frames. In addition, it uses the Acceleration/Deceleration indicator. In one time frame, each MA gets a weight of 1 and the AC/DC gets a weight of 3. The time frames are normalized and a ranking of -2 to 2 is established to determine the buy/sell recommendation. It seems to me that the AC/DC is over weighted and that there is no recognition of the difference in importance between the time periods.
As I said, I am going to test without a TP and I am also thinking of testing other MAs such as the exponential to see if I can improve the profitability and also reduce the time it takes to recognize a trend reversal. As we have not had much feed back, if my two tests are failures and no one else has any good suggestions, I am going to drop it as interesting but a failure.
Tzuman
Hi CRK,
the defaults should be fine for the 5M. I have been testing it off and on and have found that its performance is atrocious. This appears to be caused by the Take Profit and trend recognition process. What happens is that it opens an order and if the TP is reached, then it opens another etc. Eventually the trend ends but it takes a while for the software to recognize it so the gains fall back to the SL. On a 15M test, it lost over 20% overnight. I am setting up to retest with a much larger TP and a tighter SL.
The concept of the EA is that it has 5 moving averages and 3 time frames. In addition, it uses the Acceleration/Deceleration indicator. In one time frame, each MA gets a weight of 1 and the AC/DC gets a weight of 3. The time frames are normalized and a ranking of -2 to 2 is established to determine the buy/sell recommendation. It seems to me that the AC/DC is over weighted and that there is no recognition of the difference in importance between the time periods.
As I said, I am going to test without a TP and I am also thinking of testing other MAs such as the exponential to see if I can improve the profitability and also reduce the time it takes to recognize a trend reversal. As we have not had much feed back, if my two tests are failures and no one else has any good suggestions, I am going to drop it as interesting but a failure.
TzumanHi Tzuman
Thank you very much for your detailed explanation. It is unfortunate, though, that this EA is not turning out to be what the main title of this thread suggested. I will be following your testing results and see if indeed this EA can be salvaged. In the meantime, I would greatly appreciate it if you can recommend any EA that you have already tried and tested and have had successful results with. I would look forward to trying and see if it is indeed possible to make money with any EA!
Thanks again