I am wanting to develop a simple EA which uses the tried and true approach of trading with the trend. I want to use two indicators the NonLagMA and QQEA indicators which as many of you have witnessed over the years have popped up many times in peoples systems and EA's. I have traded manually with these indicators using various rules with some good success, but I am keen to get them working in an EA. The chart analysis I have done is encouraging.
Its pretty obvious that if the NonLagMA is running in a trending market trades are easy safe and profitable. Of course its the sharp reversals and choppy periods that are the issue. In this project I want to explore the QQEA indicator as a filter and we will aim at the day timeframe. Once a basic EA is going we can try other filters, pairs etc.
So we need the EA to:
1)buy or sell on change in NonLagMA color or up and down and
2)have a second condition: buy only if QQEA Value 1 or red line in my template is above the Value 2 gold line, opposite for sell orders
3)orders are closed if the nonlagMA (length = 14-25) changes color (correction from original post sorry - this preserves more profit and reduces some losses rather than waiting for QQEA cross signal
4)we need a trailing stop also to test for dealing with the problems posed by spike reversal patterns and choppy periods where the range is close to ATR i.e. very choppy.
5)trade only one trade open at a time
6)external variables 'lot size' and basic input variables of indicators if possible
The possibilities once we test this first EA version are many. There are other possibilities for trade filters with promise, but I want to thoroughly test the basic core of the system first, which will focus the further additions. One little carrot here. I originally came to this idea studying the NZDUSD pair. If you go back in the charts you will see that the NZDUSD pair rarely consolidates or chops in a narrow range. It typically ranges in a rather large range and when its off on a trending gallop it really goes. The day time frame suit this pair well. Why is this? Well we can save that discussion for further on in the project, but this pair is potentially ideal for this strategy.
For my part I will commit to sharing the EA versions with the people here and programmers involved and I will post test and trading results. So what do your say? This first version is really quite a simple programming task for anyone who is competent in MQL4. I am beginning with the programming side, so would prefer to work with a more experienced
programmer for this project.
QQEA & NonLagMA Iindicators and screenshot
Have attached the indicators I am wanting to use for the EA project and a screen shot of what they look like.
I am working on a simple EA code at the moment to kick things off.
Here's and example of signals working
I thought I would mark up a chart based on the rules in the first post on this thread so we could see what the signal and trades look like. It is profitable in this period with this currency, but it is not brilliant. I used this example because it has a longish weak or no trending period which is obviously the hard part of any trend following system. On currency pairs that move more like the NZDUSD there is a lot more potential. See the attached chart.
Note there is no other filter used here and no trailing stop on profitable positions.
In periods that are non-trending on the day chart there is potential to shift to H4 timeframe. Really we need to EA to test develop ways of using this profitable system.
EA programming Request
Regarding the your request to codify EA using NonLagMA and QQEA,
I think I help you freely.
By the way, Is it still relevant?