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Dear All,
I have submitted new update on this EA. Until it appears and get approved. Here are more info about this EA:
i noticed most people were confused about how this EA works. In fact, I was not ready to submit it for approval. I just noticed now, it has been approved.
The logic behind this EA is very simple. During volatile market (usually during the first 5 to 10 minutes after a major news), the market tends to go up and down number of times then moves strongly in one direction. If you use this EA few minutes after that time, the EA will open the first trade in the direction you decide say TradeType =1, which means long trade. If the market moves down 100 points (10 pips), then the system will close the long trade and open a short one. The EA keeps going up and down until the market take one direction. The danger is, if it moves up and down more than 5 times. Usually 5 or 10 minutes after a major news the market tends to trend in one direction. For sure do not start it before the release of the news and straight after its release, because that it is the most volatile time in the market. Wait 5 or 10 minutes. Sometime you need to wait for the hour candle to close. This depends on how clear the impact of that news on the market. Agin, this EA should not be used with the market very slow and when trading volumes are very low.
The EA proved that FX market was very trending in the period from 1995 until 2010. Then became more volatile.
Dear All,
I have submitted new update on this EA. Until it appears and get approved. Here are more info about this EA:
i noticed most people were confused about how this EA works. In fact, I was not ready to submit it for approval. I just noticed now, it has been approved.
The logic behind this EA is very simple. During volatile market (usually during the first 5 to 10 minutes after a major news), the market tends to go up and down number of times then moves strongly in one direction. If you use this EA few minutes after that time, the EA will open the first trade in the direction you decide say TradeType =1, which means long trade. If the market moves down 100 points (10 pips), then the system will close the long trade and open a short one. The EA keeps going up and down until the market take one direction. The danger is, if it moves up and down more than 5 times. Usually 5 or 10 minutes after a major news the market tends to trend in one direction. For sure do not start it before the release of the news and straight after its release, because that it is the most volatile time in the market. Wait 5 or 10 minutes. Sometime you need to wait for the hour candle to close. This depends on how clear the impact of that news on the market. Agin, this EA should not be used with the market very slow and when trading volumes are very low.
The EA proved that FX market was very trending in the period from 1995 until 2010. Then became more volatile.
It won't work because he ommited the trade logic..
The trading logics are not omitted. You need to set TradeType to either 1 or 2. If it is 0 the EA will be idle.
It won't work because he ommited the trade logic..
The trading logics are not omitted. You need to set TradeType to either 1 or 2. If it is 0 the EA will be idle.
This code is useless!!!!!
I have taken a good look at it and all it is, is some junk code that does nothing useful except continuously force open a pre-defined order when the "TradeType" parameter is set to 1 (Buy) or 2 (Sell).
In other words, it is no smarter than manually placing trades when one feels like it. Why on earth would I use this "crap" when even the manual option on MT4 is smarter and can even do trailing stops.
The only thing it is good at, is bringing your account balance down to ZERO!!!
I would recommend you read my update and have another look at it. I agree I used functions/code from my previous MLTrend EA. They do not impact on this EA as it does not call them. However, they will be used for another developer who may would like to improve this code.
It is an attempt to understand the market. The backtest will prove this. Please test it on every tick and the day timeframe. The day timeframe will allow you to have a long backtest time that starts from 1995 or even before. If you test it on shorter timeframe the MT4 will not go back that long. It is clear the FX market was different from 1995 to 2010 than these days in terms of volatility. I will be pleased to hear more feedback from you.
This code is useless!!!!!
I have taken a good look at it and all it is, is some junk code that does nothing useful except continuously force open a pre-defined order when the "TradeType" parameter is set to 1 (Buy) or 2 (Sell).
In other words, it is no smarter than manually placing trades when one feels like it. Why on earth would I use this "crap" when even the manual option on MT4 is smarter and can even do trailing stops.
The only thing it is good at, is bringing your account balance down to ZERO!!!
I would recommend you read my update and have another look at it. I agree I used functions/code from my previous MLTrend EA. They do not impact on this EA as it does not call them. However, they will be used for another developer who may would like to improve this code.
It is an attempt to understand the market. The backtest will prove this. Please test it on every tick and the day timeframe. The day timeframe will allow you to have a long backtest time that starts from 1995 or even before. If you test it on shorter timeframe the MT4 will not go back that long. It is clear the FX market was different from 1995 to 2010 than these days in terms of volatility. I will be pleased to hear more feedback from you.
It has no action programmed for TradeType = 0, so can use only 1 and 2.
Correct 0 to put the EA in Idle mode.
It has no action programmed for TradeType = 0, so can use only 1 and 2.
Correct 0 to put the EA in Idle mode.
Here are more backtest results. I would appreciate posting your backtest results. Please remember to use every tick and Day timeframe.
USDCHF
GBPUSD
USDJPY
Here are more backtest results. I would appreciate posting your backtest results. Please remember to use every tick and Day timeframe.
USDCHF
GBPUSD
USDJPY