I have been trading (in demo) a form of straddle system lately but would like an EA so that it could be automated and backtested.
I developed the system based on the Hedgehog System. All that I am doing is trading the trade they call the 3rd trade with buy and limit orders. Here's the system:
I have been trading the EUR/USD and placing LIMIT orders to buy and sell @ the 23.00 GMT (T) price +/- 15 pips (D) with a TP of 5 pips and a SL of 20. Success rates are very high +80%.
eg.
If the EUR/USD is at 1.4100 @ 2200hrs I place a buy limit @ 1.4090 (TP = 5) and a sell limit @ 1.4110 (TP = 5). Orders remain open until the following evening when I check my computer again. SL = 20.
If I do get a bad day and have losses I use the 'Martingale' principle and increase lot numbers the following day to recoup the previous days losses. Since loss days are very few I have been very succesful in regaining my losses.
Would it be possible to programme an EA so that the following parameters could be changed in order that I could backtest for the best combinations?
T = Time of placing trade
D = Distance from price @ T
TP = Take Profit
SL = Stop Loss
Different currency pairs
Magic Number
I hope the system is clear and I hope someone out there can help.
Thanks in advance
Regards
Madog
I developed the system based on the Hedgehog System. All that I am doing is trading the trade they call the 3rd trade with buy and limit orders. Here's the system:
I have been trading the EUR/USD and placing LIMIT orders to buy and sell @ the 23.00 GMT (T) price +/- 15 pips (D) with a TP of 5 pips and a SL of 20. Success rates are very high +80%.
eg.
If the EUR/USD is at 1.4100 @ 2200hrs I place a buy limit @ 1.4090 (TP = 5) and a sell limit @ 1.4110 (TP = 5). Orders remain open until the following evening when I check my computer again. SL = 20.
If I do get a bad day and have losses I use the 'Martingale' principle and increase lot numbers the following day to recoup the previous days losses. Since loss days are very few I have been very succesful in regaining my losses.
Would it be possible to programme an EA so that the following parameters could be changed in order that I could backtest for the best combinations?
T = Time of placing trade
D = Distance from price @ T
TP = Take Profit
SL = Stop Loss
Different currency pairs
Magic Number
I hope the system is clear and I hope someone out there can help.
Thanks in advance
Regards
Madog