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GBPJPY Price Action EA

This EA is based on 4 well known price action patterns: Pinbars, Inside bars, Engulfing bars, and Breakouts.

The EA is programmed to detect these patterns in the chart and to trade them using very sound risk management. That means that the EA will always use a SL on all trades, with a low risk per trade.

The EA is a swing-system so that means it will trade big moves in the market. The big advantage of this, is that it will not really be affected by slippage and spread-widening (withing certain limits) and it can work on all brokers (except FIFO brokers).

The EA uses only 1 set of settings, which are hardcoded into the EA. These settings show consistent performance in backtests since 2000 till today. So there is no need for optimization.

Key Advantages of the EA

  • easy to use
  • No parameters that need optimization
  • excellent Risk/Reward ratio
  • Based on well known price action patterns
  • Safety first with solid risk management
  • Stoploss is always used
  • no grid/martingale/averaging or any other riskfull trading style is used
  • The EA trades big moves on daily charts, so limited reliable on spread/slippage/broker or trade account type

Adjustable Parameters

  • useDiffGMT: here you can set the EA, to use a manual or automatic GMT setting
  • GMT_Summer: here you can set the GMT-offset of your broker for summer time
  • GMT_Winter: here you can set the GMT-offset of your broker for winter time
  • UseIBTrades - if set to true, the EA will use the "Inside Bars strategy" of the EA.
  • UsePINTrades - if set to true, the EA will use the "Pinbar strategy" of the EA.
  • UseBOTrades - if set to true, the EA will use the "High/Low Breakout strategy" of the EA
  • UseENTrade - if set to true, the EA will use the "Engulfing bars strategy" of the EA.
  • StartminuteAfterNewBar: here you can set the number of minutes after a new daily candle, before the EA sets the pending orders
  • StartHourAfterNewBar: here you can set the number of hours after a new daily candle, before the EA sets the pending orders
  • FirstStart: when enabled, the EA will immediately look at the last daily candles and try to set the pending orders
  • Autolotsize: when set to 'true', the EA will automatically determine the lotsize, based on the balance and the lotsizesteps parameter
  • LotsizeSteps: here you can set the step-size of balance, for which the EA will use 0.01lots (when using autolotsize)
  • OnlyUp: When set to 'true', the EA will never lower the lotsize if balance goes down
  • StartLots: here you can set the lotsize that you want to use (when autolotsize is disabled)
  • MaxLots: here you can set the maximum lotsize that the EA will use

Try the demo now!

About the author

I have been trading forex for more than 10 years and have been developing EA's for more than 3 years. All my EA's must always meet certain very strong criteria: live results must match the backtests; the EA should be as independable as possible from different market conditions (such as spread, slippage); EA's should follow simple, but powerfull logic that works longterm; EA's should not be over-optimized and should work even when parameters are changed; EA's shoud ALWAYS use a StopLoss which risk only very little of the account.

Francisco Javier Lucena Zurera
2017.06.14 19:42 

Is a good EA with good rules in entries and a position managment. It´s a profitable EA on the long but it´s very recommended check the stops and reset the values of stops in a good spread how in backtest (It´s very important and spread can be very high near of "The Rollover time (00:00)"). Need a good optimization in the future

Review of this EA in 14/6: The backtest in Forward in 2017 was a disaster (I haven´t been with this EA in Real affortunately). I put 2 stars because Wim has a much better EA than this EA and of course better than "PA TRADE" (this EA is part of PA Trade of GBPJPY)

Joel Simmons
2017.04.12 18:26 

I been using this since Oct 2016. It made money for a few months, buts then lost it all. It didnt blow account, but both my accounts on two different brokers are at a small loss after 6 months of use. The backtesting did good with bad spread in backtesting, so im not sure why trading forward is different.

Vertex Investments LLC
2016.09.06 15:10 

Two-year monitoring is enough to say that EA proved it's efficiency. Thats why i bout it. Nice conservative EA.

Version 1.2 - 2016.09.01
- fixed some small things
- Made the EA so that it can not be misused (wrong chart or timeframe)
Version 1.1 - 2016.08.16
- Improved algorithm -> group of trades will be closed when enough profit