Ignition
- Experts
- Dansie Software Limited
- Version: 1.0
- Activations: 5
Strategy Overview
The Ignition EA tries to take advantage of sudden momentum when the Ignition pattern is detected. The final bar in the ignition pattern has a small opening wick, a very little or no closing wick, is large in comparison to recent bars and must start from the lower end of the current range (for a bullish ignition)
Quick Testing
Use Symbol EURUSD, Timeframe M2, and remove the GBPUSD symbol from the "Symbols" input (stratergy 1 and stratergy 2)
Settings
The below settings appear twice, under "stratergy 1" and "stratergy 2"
- Symbols: Stratergy symbols
- Magic Number: EA unique ID
- Timeframe: Stratergy timeframe
- Max Spread: Max spread for new positions
- Max Slippage: Max Slippage for new positions
- Risk Percentage for Auto Lot: Percentage of account balance to risk when calculating lot size. Set to 0 for fixed lot size
- Fixed Lot Size: Fixed lot size if not using auto lot
- Ignition Bar Min Size Multiple: Min size of the ignition candle, as a proportion of the biggest recent bar
- Max Wick Opening Size: Max size of the opening wick, as a proportion of total candle size
- Max Wick Closing Size: As above, for the closing wick
- Max Distance From Bottom: Max distance from recent lows (if bullish) to the start of the ignition candle, as a proportion of average recent candle size
- Number of Bars in Pattern: The number of recent bars to consider in the ignition pattern
- Bollinger Touch Required: If true then the ignition candle must touch the bollinger on two higher timeframes
- Bollinger Timeframe 1: Timeframe for the first bollinger touch
- Bollinger Timeframe 2: Timeframe for the second bollinger touch
- Bollinger Period: The bollinger period to use
- TP as a proportion of SL: SL is automatically set based on the lowest point in the pattern (if bullish). This setting controls the TP as a proportion of the SL
- Stop Loss Multiplier: Allows the default stop loss set by the pattern to be adjusted (without affecting TP)
- Enable Trailing Stop: If true the SL will follow positive price movements
- Trailing Stop ATR Multiplier: SL distance when trailing
- Only Trail In profit: If true then don't start trailing until SL is profitable
- Reduce Trail Closer to TP: If true then reduce SL distance when getting closer to TP
- Reducing Trail Final ATR Multiplier: The final SL distance if using reducing trailing stop
Expected Performance
Back testing shows a positive expectancy over the test period with a decent profit factor, sharpe ratio and drawdown, however the entry is rare, and not all symbols produce the same performance.
The EA was created and optimised in October 2020, so any back testing performance after that is not as a result of optimisation, except for choice of symbols in the default settings. The performance before and after optimisation indicates a possible absence of curve fitting, however future results are always unpredictable and a longer evaluation period is always preferable, especially for an entry which occurs infrequently.
Please note the symbol GBPUSD was not included in the test results shown and should be removed if you want to run the EA with the same settings.
Support
If a bug is found please send a private message. Support is only available in English.
Important Information
This EA is offered based on the following points. If you do not agree with any of these then please do not buy the EA.
- You have fully read the EA description
- You understand the strategy as described and have had the chance to ask questions & evaluate the EA using the MT5 strategy tester
- It is your responsibility to decide what strategies to use when putting your own money at risk, and the EA is a tool to help run your chosen strategy
- Trading is a high risk activity and many people make a loss while trading
- The default settings are not trading recommendations, you will take the time to understand the settings and change them if you see fit
- Past performance is not a guarantee of future performance and future results are unpredictable
- Performance can vary between users for many reasons, such as broker differences. Traders should do their own due diligence before putting money at risk
- EA trading is not an easy way to get rich while you sleep. It takes effort and an understanding of trading strategies to be successful
