Lets tweak this system a bit
firebird?? forex open where do i find them please
goldstock
Firebird EA
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Finally, my first working system in MT4.
Results are very nice. But there are a few problems.
a] Large drawdown. Not due the nature of the system but because of some bug.
b] Less than 50% of the trading opportunities are taken. (partly causes a)
c] Pyramiding seems to be flawed; but that could also be due to a/b
I tested with EURUSD d1
The fastest backtest gives almost holy grail results.
The fractal backtest gives good results and suddenly an endless steep drawdown starts. (a/b)
Strong point of this system is it's very high % of winning trades.
The weak point is that you are often forced to take large positions.
Besides the debugging a trailing stop must be implemented because it wil probebly give the profits a big boost.
Forex Open.mq4 is an indicator. If the price breaks the outer bands the system should trade.
Firebird.mq4 is the expert. Enters trades when outside the outer bars. Adds a position if price goes 30 pips above/below the previous trade.