merlin I got your mail.
I try yo catch reversals when price goes out of the upper and lower Bollinger bands. Daily chart . Period 25 and 13 deviation 1.
I had given myself ultimatum of producing good EA which I then gave to salimc . it was called wind chaser. it did not produce good results.
I think it is important to say when are you finalizing. End of July 2019 I am done trying to put together a successful forex bot.
Forgive me for having gone back on previous ultimatum given to salimc. I hoping that I will be successful and we shall give notice to the bankers and we produce a bot that turns our vps in to an ATM. Getting ready to tell the broker watch out my balance is about to blow(the good way)ReversalCatcher_V01.mq4I am excited because I have just cleared all bugs when it comes to placing trades. I am sure you can wait a bit more for the final bot.
Thank you for your excellent contribution
Nice BB adjustment. Can u program an EA which can trade according to this settings? thanks.
This takes time spotting them and then coding them. This what will make the bot turn our vps in to atm's. Whose with me.
Thanks to merlin for introducing me to forex noobs dot com. Its from the videos on that site that helped me have an eagle eye for spotting the high probability setups.
Which are found around the Bollinger bands I have put in the template above.
I have changed the bots on the Trade Explorer to the above Reversal catcher bot.
Here is a free tip. Your bot opens its first trade. Make sure it has potential for a big move. Also it should have tight stop loss.
There after let it run. As it runs look for dips to add trades, but those trades should have very very tight stop loss and the Take profit should be small
also. That basically is going to be the secret to making excellent bot.
A side note. I do come once a day to check up on the thread even if I have not logged in. If ever I leave this forum, I will definitely say good bye before I go.
There is a slight boo boo I have made when putting together reversal catcher. I have coded it and been back testing it one pair , NzdUsd.
Last week I tried back testing it on other pairs and it was kafwafwa( a disaster).
A good strategy should be able to succeed on at least three pairs I think. Unfortunately this is a difficult task. I tried coding many but when back testing they could not
do well on at least three pairs.
I have been trying to catch reversals with the help of Bollinger bands . The basic strategy so far is this Sell High Buy Low. In order determine price was high I would gauge it by looking if price was above the upper Bollinger band vice versa for buys. Once it is determined price is high then I use MERLIN's price action candle patterns that he emailed me to enter . Unfortunately I have not got the optimum result. I need a better gauge and entry method.
I have previously condemned moving averages, but need to eat humble pie and try it out again. If you look at an earlier post in this thread I said strategy to try in future. I started messing about with it for various possibilities .
Here is an image of EurJpy chart of where buys and sells would be attempted
Basically when the moving averages are open like a butterflies wings to the upside place sell trades and vice versa for buys.
Here is the templateMAwebPipCatcher.tpl
Here is the botHiSeLoBu_V01.mq4
Here is what I have found to have had success on at least three pairs
I am .....looking forward to the day we can all live financially free with the perfect ATM EA
Thanks for your diligence, candyman.
I'd like to suggest a meta-strategy that has probably bounced between your ears before ...
First a question:
How hard is it for an EA to trade live and collect the results without actually placing real trades, just record potential results?
If you had a scalping system with a collection of entries you could score and choose the best ones according to recent results. And stop trading loser entries until they improve again as the market changes.
For a multi-pair EA you could stop trading losing pairs until their performance improves.
If you save all the surrounding data for each trade (indicator values, etc.) and create a scoring system you have the rudiments of artificial intelligence. And eventually an adaptive, winning system.
This meta-strategy could start very simple and expand as results dictate.
Just a thought.
How hard is it for an EA to trade live and collect the results without actually placing real trades. Seems easy if.
I have seen a guy who has the coding ability suggest it (Steve Hopwoods site) but the collection of data was going to use some special software.( I think) Anyway the
guys at steve hopwood are doing that. At least they can afford to do it because you have so many guys chipping in. I am lone ranger in coding at the moment so just have to limit what I take on
what i want to say, pf chart is unique to use , but not for all the combination will be good, pf chart mostly work for support resistance , and CANDY YOU MAINLY USE bb for the main logic, so it may not be compatiable this method . so right now. i fetch link to you , hope these will boost your mind, these will more fit for your strategy http://forexseriously.com/bollinger-...high-accuracy/
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