Please help to code this system.
I think this is not the best forum for your question, try http://www.forex-tsd.com/forum.php
I think this is not the best forum for your question, try http://www.forex-tsd.com/forum.php
Thx for the lead bro.really appreciate it.
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This is vanessa system.I want to try it on EA.Can somebody help me code it.here is the system.
Vanessa FX 4hr system
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This is a basic system I use to identify medium term trade 1-5 days, it uses 4 hour charts and only GBP/USD I have tried it with other currencies but there are too many fadeouts.
What You Need
-4hr GBP/USD chart
-MACD
-100SMA
-200SMA
-6EMA
-13SMA
System
Ok now to the good part, this is not a complex system and it works very well, it needs to be combined with a good uses of stop losses to maximize the profits and minimize the losses.
The system is based on 4 hour charts, I do not like sitting in front of my computer constantly monitoring charts, I got into the Forex business so I could have more freedom and my idea of freedom isn’t sitting on a chair 8/16 hours a day. I designed this system to take up very little of my time and have been using it for years.
Sometimes trades can go against you up to 70 pips you need to have enough money in your account to cover this and enough balls to stick to the trade. It requires a strong mentality when I trade I think like a machine, I see a signal I execute. I know this sounds easy but it is hard to get to get to the point that you are able to do this. You do need to take things into consideration, if you have an NFP report coming out in half an hour you shouldn’t jump into a trade. I could go on with this for hours but I think it is common sense. What you shouldn’t do is look at bigger/smaller time frames for confirmation of the signal; if you look hard enough you will ALWAYS find a conflicting signal. You also shouldn’t enter too early; you enter when you see a signal.
The actual system is simple plot both SMA’s on a 4 hour GBP/USD chart and use a stock MACD. I also plot on my graph monthly/weekly/daily highs and lows if I get a short signal just above a weekly low I wait till the low is broken before entering (by broken I mean it has to move past and close below the line). This is the same with 100/200 SMA’s be careful not to enter to close to one of those lines as it can find support/resistance in those areas. 90% of the times the line will be broken but it is better to be safe than sorry and I would rather get in 30 pips later than lose 30 pips by jumping in early. The general rule I have is not to enter if the price is 40pips or lower from touching the line.
The system is simple enough you wait for a cross of the MACD followed by a cross of the MA lines or a cross of the MA lines followed by a cross of the MACD.
Long signal
- 6EMA crosses above the 13SMA and MACD lines cross indicating an upwards trend.
Short Signal
- 6EMA crosses below the 13 EMA and MACD lines cross indicating a downwards trend.
Stops
Generally I do not set a stop when I enter; if I leave my PC I will set a stop of about 70 pips. When I reach 50 pips profit I will set a 50 pip trailing stop and follow the trend down, I will close a stop prior to news releases if I am up 70+ pips, most news releases are short lived and they rarely move the market 70+ pips. Again common sense is needed, if you have NFP coming out and you are up 70 pips you might want to exit the position. I do not because I thoroughly analyses any major reports and almost always pick the right direction. I have held the positions through NFP reports and have not been stopped out. Setting stops comes down to your own personal preference I have given you an idea of how I set my stop but at the end of the day you should decide the amount you are willing to risk. Make sure you do not keep them too tight or too loose I think 70 pip SL is perfect to start off with. My minimum target is 50 pips on these trades so the more it drops the wider my trailing gets, I push it to 100 pips trailing stop loss.
I entered a Short GBP/USD trade on Monday of this week and I am currently up 200 pips with a 100 pip trailing stop loss.
Exits
You either exit when your trailing stop gets triggered or when the EMA’s cross back over indicating a reversal.
NB:Please code it to an EA of metatrader4.The signal short or long determine from 2CANDLESTICK after the MA crossover (to avoid false signal).any help will be very appreciate.cheers