DislikedThe last version that I coded is Firebird 3.2 and is attached. Other versions are located here.
http://www.accrete.com/fx-mirror/mt4-firebird/
I've found out the hard way that Firebird (any version) will lose money if not manually controlled when needed. FB is a reverse trend EA in that it waits till price reaches either upper band and enters sell order or lower band to enter buy order. The concept is that the price will eventually reverse to take profit. Before it reverses, PipStep orders will be placed while price continues to move up (Sell PipStep orders) or down (Buy PipStep orders). If the trend continues, the 300 pips Stoploss gives possibility of many PipStep orders. This can lead to high DrawDowns. You much decide if trend is worth staying in or manually close order/s for small lost. Also, in most instances, the price never reverses enough to close all orders in profit. So you much also decide when to close a long term open order.
This is experience only, no set rules. If you can learn when to stay in and when to get out, this EA can make profits as I have run 3.2 in profit for several months.
The hedge function places both Buy and Sell orders when PipStep order is called. I've found this improves profits, but will also have more occurrences where manually intervention is needed.
The MA_timeframe=15 and I have not changed this. On M5 chart selection, you will have more orders and higher DrawDowns. Lately I use M30 chart selection and it seems to slow down number of trades and reduced high DrawDowns. I think M30 predicts trends better.
The EquityProtection feature in 3.2 is not the best code. Setting the Float Percent correctly needs to be constantly changed in relation to Account Balance, and so, I don't use it.
WackenaIgnored
thanks for your EA. I'm testing it and made about 450 pips in one week. I open the platform at 08:00 CET and make the EA running until 21:00 CET without closing any position. I use 30 minute charts. So,the only problem is that we should close some positions wich could give us large losses?so, we should use our discretion?
regards