I am one among the fans of Greame(author of Equity millepede).
His (very loooooooong)thread is motivating and inspiring lot of traders around here.
This EA we are going to build is dedicated to the great man Greame.
Summary of what this thread about
- I built an EA which incorporates the concept of Equiity millipede.
- We are going to update the EA with entry techniques.
Detailed plan and design
I built an EA this morning.
This EA is having following features.
- It will open a trade.
- Calculation of lotsize based on risk --> (AccountMargin()%500) * 0.01 * risk.
This means 0.01 lot for each 500$, with risk as the multiplication factor. - validate stoploss. There is an option for user to enter max stoploss. Validate stoploss will check for the stoploss calculated by entry method and validate it with max stoploss.
- Move stoploss to Breakeven --> BreakEven pips and BreakEven Profit are user inputs.
- Entry method --> It check for the entry with very small stoploss. It will set the stoploss(This stoploss is validated with the max allowed stoploss. If the stoploss is greater than max alllowed stoploss, then trade is not opened) and will open the trade.
- Module to take photo whenever new trade is opened and whenever stoploss is moved to Break Even
There is no exit module. You should know why if you know the concept of Greame. This EA is not about exiting from a trade. This ea aims only at building legs. Its your duty to terminate the legs(means exiting a trade).
According to Greame, profit of 100 even 500 itself is not at all a profit. So there won't be Exit module in this EA.
So this EA is not "set and leave EA".
Now this EA can enter a trade, it can place stoploss, it can check whether the stoploss is within our budget, it can move the stoploss to break even.
These are all the thing we need to do to form the leg.
But what about entry method ?
I incorporated 1 of my own entry method within this EA. But i have to do some filtering to make the entry more precise.
For sure we all have our own entry methods.
Share it and get it back.
I will post only .ex4 file.
If any of your ideas cannot be incorporated, then i will say the valid reason before deleting it from my coding list.
So start sharing, i will start coding.
Regards
ananth
PS --> EA attached is just coded today. Its not tested yet because spread on holidays are very high. Please excuse my grammer.