Only users who purchased or rented the product can leave comments
Ronald Hoard  

Hi Diego;


A few questions:

1. Can you explain what the graphic symbols are taht appear with each trade?

2. Do you have a list that explains each input variable with a sentence or two?

3. You show results for the EURUSD and GBPUSD.  Can the MT$ (or MT5) version be optimized for other pairs?  If so what input variables should be optimized over?

4. Can you share with me by PM how you used this EA to win a prop contest?

Thanks!

Diego Arribas Lopez  

Hello Ronald,

of course :)

1. What you see are the stops orders for the current range. The EA continuously updates this range and the stop orders linked to it. In MT4 the visual representation is quite messy but it doesn't affect the functioning of the EA :)

2. I tried to made the input names as accurate as possible. I guess you might have some questions regarding the Swing settings. I will explain those here, let me know if you have some questions rewarding a specific input.

  • Candles left and right to consider max min: This input is used to define a tolerance for the range extracting swing highs and lows from the chart. Higher is here more conservative.
  • Last candles to scan: This input shows the candles the EA looks back to analyze the relative swings and define the operating range. Higher is here more conservative.

If you want to use the EA in a semi automatic why you can change this inputs to fit the range manually. This way you can tell the EA which swing highs/lows you want to use to define your range and the EA takes care of the orders and the risk management ;)

3. Of course you can optimize it for any pair you want. I would use MT5 strategy tester to perform the optimization and then take those inputs to MT4. The optimization process I would use would be the following:

  • Get a feeling of how the EA works and how you plan to use it. That way you can filter your optimization results to your personal trading philosophy.
  • Decide if you want to do a long term, short term, or semi automatic optimization. Long term would be optimizing the EA over the last months/years. Short term over the last weeks/months, or some period matching the current market situation. Semi automatic would be optimization for a similar past market situation and active managing when you want to activate/deactivate the EA and manually define the ranges.
  • Set your initial and most neutral optimization conditions:
    • Risk management mode = Based on initial account size
    • Max simultaneous orders = 1
    • Disable kill zones
    • Disable TSL
    • Set some standard SL/TP using Points (depends on the pair but you could choose a relation 1:1, 1:2...)
  • Perform the optimization for a period of time and extract the best results.
  • Optimizing SL/TP
  • Optimize Kill Zones (The strategy tester shows you the hours where your trades are less favorable, set your kill zones to match the best hours)
  • Optimize TSL

4. Firstly I optimized it following the steps above. I decided to use the EA focusing on explosive moments out of the range setting the TSL quite quick to profit. This allowed me to get a high win rate. The results were really good during the last couple of months so I decided to go with those settings. As for the risk I was taking for each trade it was something I felt comfortable matching the EA win rate analysis. However, I never as "all in" and it has to be clear that past results don't guarantee future performance. Then I went for it :D. In my opinion, optimization and risk management are key for prop evaluations.

Let me know if I can support you with anything else :)

Ronald Hoard  

Regarding optimization: does this EA run on both MT4 and MT5 or does that require another purchase/rental?  Thanks.

Ronald Hoard  
Does the EA automatically convert the GMT input times to the broker session times, or do I need to do this?
Diego Arribas Lopez  
Ronald Hoard #:
Does the EA automatically convert the GMT input times to the broker session times, or do I need to do this?
The times refer to the broker session times
Only users who purchased or rented the product can leave comments