Need an EA for GBP/USD strategy... - page 2
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Yep, you're certainly on the right track. Next you'd have to change while (index != 4)
to
while (index != 13)
so it'll read the appropriate number of bars. Your setup would then be reading a total of 12 bars (starting on the previous bar which is 1) on the 5 minute charts instead of 3 on the 15 minute chart. I think 13 would be the right number, but don't quote me on that.
Anamy check your private messages.
Thanks Todd
I fixed a problem with the orders placing and added a couple of features to accomodate some changes that Toddr said would improve the strategy.
TimeFrame=15; // Must be a valid time frame (5, 15, 240, 1440, etc)
BarsToRead=3; // Number of past bars to read on given time frame
DistanceForEntry=1; // Number of pips to enter above/below the high/low
Toddr has told me that changing the time frame to 5 and reading the past 12 bars (the whole previous hour) has a postive effect.
TimeFrame=5;
BarsToRead=12;
It still is putting in many orders every tick. This morning it put in 5 Buys and 1 Pending Sell. Can you put in where it ONLY puts in 1 trade only?? This happens when the current price is about 2 pips from the High or Low when the trade is entered.
Ok I have manually Tediously backtested this strategy and traded it live (manually) till I can confirm the EA is bug free. Here is what I have found to be profitable with the EA if it gets tweaked.
(1) I have taken (I think?? CODING NEWBIE) out the code when a pending is hit to delete the other pending. I have seen alot on the 5 minute you can make pips when it goes up then it shoots down or visa versa.
(2) Also I took (I Think??? CODING NEWBIE) to close all other orders in since I use another strategy when the EA is on. And I do not want them closed.
(3) This EA puts orders in if the current price is at the high or low when the EA time programmed is up (example: 5 minute chart, 1400 time) and it will put execute orders on every tick. All day I have tried it and it put in atleast 5-8 Buys or Sells depending on if it is at the High or Low. It needs a limit of 1 trade ONLY. Also it is better that it does NOT put in a trade if the current price is too close (Creates too many WHIPSAWS with only 1 PIP profit). If the current Price is too close to put a pending in (InterbankFX requires 5 pips away from the Current price to enter a pending) then it is fine it does not put in a pending. I coded in an alert so if it does not go in you can make the decision if you just want to execute an order or not. My DistanceForEntry=0; since I have seen that 0 provides more pips and less stops then +1.
(4) Also it would be very helpful if it puts lines in on the High and Low so we know where they are, say a horizontal line.
I have made 50 pips within the past 5 trades using this method, but the EA kept putting in orders (refer to #3) so if I used the EA live, I would be way in debt.
I will keep everyone posted after the EA is refined so we can all make money!!!
HAPPY TRADING
(3) This EA puts orders in if the current price is at the high or low when the EA time programmed is up (example: 5 minute chart, 1400 time) and it will put execute orders on every tick. All day I have tried it and it put in atleast 5-8 Buys or Sells depending on if it is at the High or Low. It needs a limit of 1 trade ONLY. Also it is better that it does NOT put in a trade if the current price is too close (Creates too many WHIPSAWS with only 1 PIP profit). If the current Price is too close to put a pending in (InterbankFX requires 5 pips away from the Current price to enter a pending) then it is fine it does not put in a pending. I coded in an alert so if it does not go in you can make the decision if you just want to execute an order or not. My DistanceForEntry=0; since I have seen that 0 provides more pips and less stops then +1.
Whenever I've tested the EA, it has only put in two orders. But, I've added a line of code as a last attempt to stop the EA from putting in too many orders. If this doesn't fix the problem, then I don't know what will.
anamy,
Ok I have tested it and wow today it made over 80 pips when I set it up for 1300 GMT and the the Fed came out. The Pending are right on target. I use 0 from the High and LOW setting.
It now only puts in 1 position when the current price is close to the High (Fixed). So that is GREAT. But when it is at the LOW and the current price is too close then it does not put in a sell or anything.
Can you make sure it will do the same on a SELL as it does now on a BUY. Like I said the BUY is working GREAT it is just the SELL when the current price is too close to the LOW that it will not put in the SELL order. Tested it all day
Again GREAT EA and the pending are right on. Just the SELL needs fixed and we are on to a MONEY MAKER.
Also I set it not to delete the opposite pending or delete existing orders and I may have messed something up doing that. The reason for not deleting the opposite pendings is like yesterday it whipsawed and hit the Low at about 1500 and went only 5 pips profit (I got out). They it went Long another 20 pips above the High from 1300 GMT and I caught that. Works well in sidways markets if you set the T/P low. And REALLY PROFITABLE in a trending market.
I look forward to testing the revised EA and updating you further. Thanks
PS I have attached the EA, but I have not touched the code since you posted it yesterday.
Let me first Explain the System a picture is worth a thousand words so here you go.
At 11:00 Pacific Standard Time the dotted line shows what time the signal starts, this indicator generates a buy and sell signal. From this point you trail your buy and sell entry orders with trailing stops. There is a signal everynight so your always trading, It takes about 10 mins to setup and you can walk away. The only thing is i found a way to make more pips using the same system.
The upper red line is a buy and the lower red line is the sell. This system does about 250 to 350 pips on average, there is only been on bad month with a loss of 40 pips
Let me show you a pic where i could of made alot more money if i had an EA that would exit me out of this trade at a better point. Instead of earning 10 pips i would of earned 45 pips, this happens at least 3 to 5 times a month sometimes even more.
So what i need is Exit EA that will exit me out when blue line crosses the green line.
hi,
I download your file but why nothing appear on my time frame H1..
Anything wrong to my download or your program itself.
Thanks
p/s l love your program if is really work.I will know how much I can get pips.
Are those the Guppy MA in your charts? How will it it hold up in range bound market if those bands were very narrow? I don't use multiple MA, just curious if you confirm it with any other indicators?
Hello everyone.
Could someone code an EA for this simple but very profitable strategy on GbpUsd pair (mainly)?
Here are the rules:
1) Trade on Daily charts.
2) It works on GbpUsd pair mainly, but also on the other major’s
3) This strategy could take up to 4 (four) trades per day (two Long and two Short).
4) Place orders every day, excluding on Monday, at 0.00 GMT (server time at Interbankfx).
5) The (pending) orders placed are 4 (four) in total, with an expiration time the same day of entry at 16.00 GMT for all.
6) Two orders are Long and two are Short.
7) The two Long Entry orders (“stop” orders) are calculated considering the previous day’s High (bid price on the daily chart) + 5 (five) pips; the first order will have 10 (ten) pips take profit, the second one 20 (twenty) pips take profit; 30 (thirty) pips stop loss for bo
8) The two Short Entry orders (“stop” orders) are calculated considering the previous day’s Low (bid price on the daily chart) - 5 (five) pips; the first order will have 10 (ten) pips take profit, the second one 20 (twenty) pips take profit; 30 (thirty) pips stop loss for bo
9) If the price at 0.00 GMT it’s too much close <5 pips, I think) to the previous day’s High or Low, the broker will reject the Long/Short stop Entry orders, so, in this case only the Ea should try to Buy/Sell at the above calculated prices [points (7) and (8)] entering the trades with two orders “at Market” (or “Limit” in some c
10) In case of triggered orders, if neither stop loss or take profit are reached (very unlikely with GbpUsd pair!) the trader will close manually all open trades, at his judgment, at the end of the day (23.59 GMT).
That’s it
I hope someone like Anamy wants to build this, I repeat, very simple but yet powerful strategy, in a fully automated EA!
Many Thanks in advance!