Small-Wick Trading-Idea

First of all, I am extremely thankful to you George for sharing with us an updated version of this Expert Advisor. Your willingness to release tools like this for everyone to learn from is truly appreciated.

I have recently started experimenting with the EA and running some backtests.

For everyone reading this post, please note that I am still quite new to working with Expert Advisors and proper backtesting, so this is more of an initial exploration rather than a professional test.

Below is a backtest result for XAUUSD covering approximately one year.
Period: 03-02-2025 to 13-03-2026

During this backtest, I faced several challenges trying to achieve higher modelling quality. To reach around 90% modelling quality, I had to delete the .FXT files, download the history again, and restart MT4 several times because the tester was producing errors. I tried running on weekend and spread was too high.

I was still unable to reach 99.9% modelling quality. After some research, I realized that achieving this level usually requires real tick data from Dukascopy, Tick Data Suite, Tickstory. This is something I still need to explore further as it is quite new for me.

Any suggestions on proper backtesting (a better and easier way) from George/other senior memebers will be much appreciated.

After reviewing the EA inputs, I also many useful controls are already included, such as:

1. Fixed lot or risk-percent based position sizing
2. ATR based filtering
3. Spread filtering
4. Partial close percentage
5. Trailing stop
6. Order retry logic
7. Date filter for testing periods

These features make the EA quite flexible already.

If possible, I would like to suggest a few additional ideas that might further enhance testing and practical usage

 

1. Slope permisison Indicator/ Higher timeframe trend filter: For example, allowing trades only when the Small Wick signal aligns with a higher timeframe directional bias.
2. Spread + ATR consideration – An option to consider (Spread / ATR %) rather than spread alone.
3. Single trade per bar option: Allow only the first signal per candle to avoid multiple entries on the same bar.
4. Trading session filter: Ability to enable or disable trading during specific sessions (Asia, London, New York).
5. Cancel pending stop orders on a new bar: This could help prevent older signals from remaining active when market conditions have changed.
6. Maximum trades per day: Can be useful for controlling overtrading during volatile periods.
7. Daily profit / loss stop: Stop trading automatically once a daily target or loss limit is reached.
8. Break Even option: Move SL to BE after a configurable number of points or risk reward level.
9. Detailed trade logging / CSV export: Exporting trade data (entry conditions, ATR, spread, candle data, etc.) for further statistical analysis outside MT4.
10. Simple statistics panel on the chart: Showing information such as number of trades , win rate, R:R etc

These are just suggestions from someone still learning, so George please take them only as ideas for possible future enhancements ( only if, heath & time permits)

Thanks once again for sharing an updated version of this EA. It is a great learning opportunity for many of us.

Was watching this pullback yesterday. Six candles down then waited for the signal.
Thought ChannelOsc would go green at some point but since it didn't, I took it as a warning.

Thanks again to George (aka SwingMan) for selflessly sharing his knowledge with the community.

I’m still dealing with some health issues, but I wanted to drop by and say:

Everyone, stay safe wherever you are.

Wishing you all a HAPPY EASTER and plenty of PIP$ in the days ahead.

Best of luck to everyone!

Hey traders,
How do I configure this EA? It's not working for me. Any idea why?

Hi group admin / Trader admin, could you please add smaller timeframes?

Quoting wxl7015

Disliked

Hey traders, How do I configure this EA? It's not working for me. Any idea why? {image}

Ignored

Hello wxl7015,

The best approach is to run the EA first without changing any settings, preferably on a few different pairs.

Take some time to observe what the EA is actually doing, how it opens trades, manages signals, and reacts to market conditions. Once you understand its behaviour, start modifying only one parameter at a time.

If too many parameters are changed simultaneously, it becomes very difficult to identify which setting is causing the issue or affecting performance.

Quoting wxl7015

Disliked

Hi group admin / Trader admin, could you please add smaller timeframes?

Ignored

George (SwingMan) would be the best person to comment on adding smaller timeframes.

However, based on my limited understanding, the SmallWick concept works more efficiently on higher timeframes, such as H4 and D1, where market noise is reduced and signals tend to be more reliable. On lower timeframes, the strategy may generate more false signals due to market fluctuations. (High Spread/ATR%)

Before using the EA, I strongly recommend gaining a good understanding of the SmallWick indicator, which George kindly coded and shared with the community.

Understanding the indicator logic will greatly help you configure and use the EA more effectively.

Hope this helps.

Hi ENoris, hope you`re well and pips flow!

In another thread you mentioned that you did a lot of trades on lower TFs for quick learning curve, but recommended higher TFs for steady income. So my question: What is the lowest TF to use for "earn while you learn"?

Furthermore please clarify, which of the two methods should a newby approach first: The Small Wicks or the Golden Cross?

Just your kind recommendation, no guarantees or batteries required.

Thanks