Candles expert advisor for avoiding charlatan trading signals - page 2

Icham Aidibe
12008
Icham Aidibe  
EA-trader:

use it on a real account , it is all theory.

I can't work with that. I don't even see prices ! 

Chris Mukengeshayi
1716
Chris Mukengeshayi  
EA-trader:

I look for positive candles , uptrends /channels , then get caught by fake/charlatan  trading signals.I try to back test these.



:-) :-) I wish you could know why the market gives fake signal, however we are not allowed to discuss such matter on MQL5 forum :-) :-)


EA-trader:

use it on a real account , it is all theory.

As for myself I'm a real EW manual trader, I just choose to remain silent.

EW work, that what the market is made off :-) you just need to know all the pattern combination and all the ratio of waves all by heart. 

Chris Mukengeshayi
1716
Chris Mukengeshayi  
EA-trader:

I was getting a lot of fake trading signals  from price action education, that I had read about on other forums. I decided to have a EA made on this site  to test this education, I paid $2,000 for this education and lost money on live accounts, using this education. .It cost me $50 for the expert, it was really cheap, but very well coded and very useful, because it saved me thousands of $$$$$$$$$ of real money by avoiding fake price action signals.As a result of this candles expert advisor, I have found many profitable strategies, simply by back testing various candles set ups.


A candles expert advisor will tell you, if the signal you get from your own analysis , has high probability of success.It will also avoid  many fake signals, and lead a hard working trader, to see a success rate of above 60 %.


It can also back test all indicators, to help traders how to use indicators correctly.It can also back test price action candles education.Real traders  talk about fake signals, trade break downs, lagging indicators , price action failures  etc etc.

Here is  the logic for coder to code, if anyone wants to back test  charlatan signals, indicators and price action education.



EA will open trades at hourly bar close

hourly bar :10:00 //candle signal hourly bar = close of 10:00 bar.............see alternate signals for ea design

stop loss 200 take profit 100

input string CloseTime="20:00";//trade closed everyday at 20:00, if  time is 00:00  trade will close on friday at 19:00

extern int StopLoss=100;

extern int TakeProfit=100;

input string StartTime1="10:00"; if start time is 00:00 it will test all hourly candles

input tipp TypeOfTrade=Buy;//tests buy .........................if sell it will test sells

candle time frame : H1/M30 /H4/DAILY //  H0  WILL TEST COMBINATION OF CANDLES


alternate candle formations will be changed in ea :there are hundreds of other formations I  use,i have them ready in following formats

if(iClose(NULL,PERIOD_H1,1)<iOpen(NULL,PERIOD_H1,1))// if alternative candle formations are input ea will test them

  if(iClose(NULL,PERIOD_H4,1)>iOpen(NULL,PERIOD_4,1))


put a indicator testing code with 3 moving averages  for back testing indicators and moving average systems.


only purpose of ea is to back test  candle formations  probabilities, indicators and moving average systems profitability.

It is to be used only for back testing candles, if it can't back test ,it is useless to me.  mql4 source codes required

That is a lot of money you paid just for learning.

The best things in life are free, you just need to know where to find it and how to acquired it.

The fact is a trader should never stop learning.

EA-trader
651
EA-trader  
Chris Mukengeshayi:

:-) :-) I wish you could know why the market gives fake signal, however we are not allowed to discuss such matter on MQL5 forum :-) :-)


As for myself I'm a real EW manual trader, I just choose to remain silent.

EW work, that what the market is made off :-) you just need to know all the pattern combination and all the ratio of waves all by heart. 

I am not discussing the mql5 signals at all in this thread, but mr market that I trade , i.e indices,  is always giving fake signals and chop outs.

Don't worry we make EAS to catch out EW theories.MT4 is king.

In manual  trading I caught many EW  cheerleaders , with cognitive biases and beliefs that were false/fake.