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Forex Trend Catcher EA

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  • First Post: Edited May 4, 2009 12:13am Mar 16, 2009 12:20pm | Edited May 4, 2009 12:13am
Hello People,

I have surfed and learnt quite a fair bit from the different forex forums eversince I started forex trading. It's time I contribute. Here's an EA I wrote to automate my trading experience. I call it the " Forex Trend Catcher EA". As it's name imply, it wil attempt to "catch" trends when it detects a developing trend emerging.

A few things about this EA.

1. It is designed for trading on the 1hr time frame.

2. It will stop initiating new trades at end of each trading week, Friday 15:00 GMT.

3. EndWeekCloseAll option to auto close all open trades at end of each trading week, Friday 19:30 GMT before forex market closes. Otherwise, all existing open trades get carried over to the next trading week.

4. TrailingStopRequired option to trail profits made. Otherwise, no trailing of profits.

5. TradeNewYorkOpen option to trade/not trade before New York opens for trading.

6. TradeLondonOpen option to trade/not trade before London opens for trading.

7. It refers to indicator TrendRange_bars to initiate trades.

*Ensure that you download version 1f from post #1, and not the outdated version 1a from post #3. I cannot remove post #3, for some reason the "edit" button does not show.

Happy trading.

Bernard
Attached File(s)
File Type: ex4 Forex_Trend_Catcher_Ver1f.ex4   26 KB | 6,960 downloads | Uploaded Apr 22, 2009 9:39pm
File Type: ex4 TrendRange_bars.ex4   5 KB | 5,789 downloads | Uploaded Apr 22, 2009 9:39pm
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Quoting prosper4rex
Hi people,

I have learnt quite a lot from the different forex forums eversince I started forex trading. So, now its time to contribute what I have learnt. Here's an EA I wrote to automate my trading experience. I call it the " Forex Trend Catcher EA".

A few things about this EA.

1. It is designed for trading on the 1hr time frame or higher.

2. It will stop initiating new trades at each end of the trading week, Friday 15:00 GMT.

3. There is an option to auto close all open trades at end of each trading week, Friday 20:00 GMT before the...
This zipped up file says on my pc that it is coruppted... I cannot open it...

soeasy69

Can you post it with no zipped up file?
Hi,

Sorry for the corrupted zip file. Here's the attached executable file below.

Regards,
Bernard.
Attached File(s)
File Type: ex4 Forex_Trend_Catcher_Ver1a.ex4   17 KB | 5,182 downloads
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Quoting prosper4rex
Hi,

Sorry for the corrupted zip file. Here's the attached executable file below.

Regards,
Bernard.
Thanks...

soeasy69... no source code?
Quoting soeasy69
Thanks...

soeasy69... no source code?
Is this EA based on "Trend Manager?"

soeasy69
Hi prosper4ex,
I have downloaded your ex4 file and am putting on my $10000 and $250 Demo a/c. Will get back to you with results after it trades a few.

Vinesh
Quoting soeasy69
Thanks...

soeasy69... no source code?

Hi soeasy69,

I have spent hours testing and programming this EA. To be fair to myself, I won't be releasing the source code after all the hard work done. It will just get copied and released under different names.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Quoting soeasy69
Is this EA based on "Trend Manager?"

soeasy69

I do not know what "Trend Manager" you refer to. But, this EA is a trend following EA.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Quoting vinesh
Hi prosper4ex,
I have downloaded your ex4 file and am putting on my $10000 and $250 Demo a/c. Will get back to you with results after it trades a few.

Vinesh
Hi vinesh,

Let me know if you have any questions about the EA.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Quoting vinesh
Hi prosper4ex,
I have downloaded your ex4 file and am putting on my $10000 and $250 Demo a/c. Will get back to you with results after it trades a few.

Vinesh

I forgot to add. You can change the parameters within the properties of the EA to suit your requirement. Please remember to set your GMToffset to be in line with your broker's time.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Hey Bernard.....

Thanks for sharing. Do you mind if I ask what pairs you like to trade this EA on and what settings you use for those pairs.

Thanks again.

Damon

Quoting prosper4rex
Hi people,

I have learnt quite a lot from the different forex forums eversince I started forex trading. So, now its time to contribute what I have learnt. Here's an EA I wrote to automate my trading experience. I call it the " Forex Trend Catcher EA".

A few things about this EA.

1. It is designed for trading on the 1hr time frame or higher.

2. It will stop initiating new trades at each end of the trading week, Friday 15:00 GMT.

3. There is an option to auto close all open trades at end of each trading week, Friday 20:00 GMT before the...
"Keep your eyes on the helpers" - Mr. Rogers
Quoting prosper4rex
Hi soeasy69,

I have spent hours testing and programming this EA. To be fair to myself, I won't be releasing the source code after all the hard work done. It will just get copied and released under different names.

Bernard
Hi Bernard...

It's just that so many people think they have some holy grail EA or indicator and all it is in the end is a SMA or EMA... There is no secrets to trading like a lot of traders think... Knowing how to use a SMA or EMA in the right way can make you money... I know one thing for sure that your EA is based on a moving average...they all are... please don't take me in the wrong way just being honest...

I have it on the GBPUSD H1 to see what she can do... I hope she makes some pips bro... thanks for posting it... But I also want to say that they can decompile it for $10.00 just so that you know... so if this EA is a winner you can be sure somebody will do that... Me I will just run it for fun to see...

soeasy69...

Thanks again...
Quoting prosper4rex
I forgot to add. You can change the parameters within the properties of the EA to suit your requirement. Please remember to set your GMToffset to be in line with your broker's time.

Bernard

I have it on IBFX will that work on 3? Sorry but I don't understand what to set it at?

soeasy69
Quoting damonl
Hey Bernard.....

Thanks for sharing. Do you mind if I ask what pairs you like to trade this EA on and what settings you use for those pairs.

Thanks again.

Damon
Hi damonl,

I trade all pairs as long as the spread is 10 and below. The EA takes a while to "catch" a trending currency pair. So, best to widen the number of currency pairs to trade to increase the probability in entering a trade.

I set TrailingStopRequired to true to trail my profits and UseMoneyManagement to false. I trade fixed lots of 0.1 per currency pair.

Remember to align GMTOffset with your broker's time.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Quoting soeasy69
I have it on IBFX will that work on 3? Sorry but I don't understand what to set it at?

soeasy69
Hi soeasy69,

On your demo screen, go to View and select Market Watch. You can see your broker's server time. Compare this time to current GMT time, London at www.greenwichmeantime.com - and you can see your broker's server time is a few hours ahead of GMT. The number of hours ahead is the GMTOffset. Just input the figure into the GMTOffset parameter.

Beranrd
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Quoting prosper4rex
Hi damonl,

I trade all pairs as long as the spread is 10 and below. The EA takes a while to "catch" a trending currency pair. So, best to widen the number of currency pairs to trade to increase the probability in entering a trade.

I set TrailingStopRequired to true to trail my profits and UseMoneyManagement to false. I trade fixed lots of 0.1 per currency pair.

Remember to align GMTOffset with your broker's time.

Bernard
If the offset does not match will it not trade?

soeasy69
Quoting prosper4rex
Hi soeasy69,

On your demo screen, go to View and select Market Watch. You can see your broker's server time. Compare this time to current GMT time, London at www.greenwichmeantime.com - and you can see your broker's server time is a few hours ahead of GMT. The number of hours ahead is the GMTOffset. Just input the figure into the GMTOffset parameter.

Beranrd
Thanks anyway... Good luck and good trading

soeasy69
Quoting soeasy69
If the offset does not match will it not trade?

soeasy69
It will still trade.

However, the EA is programmed to stop opening new trades on each Friday at 15:00 GMT time. The GMTOffset is needed so that your broker's time is synchronized to GMT time for the EA to work accurately.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
Prosper,
Thanks, I have put it it at default except for MM. I'm using MM and have put it on 4 majors i.e. Eur, Gbp, Aud and E/G. It has not traded yet but as you say it has to catch a 'trend'. Fingers crossed.
But do tell me, are your TP and SL realistic? 400/100. SL still is understandable but TP targets?
What is your rate of successful trades? Can you post one week's results?
Vinesh

p.s. On an average how many trades/week/pair can be expected?
But even if we can get 1 good trade/week/pair it will be 1600 minus any unsuccessful trades, which happens to be phenomenal (well at least very good) result.
Hello prosper4rex,

Thanks for posting your EA.
Looking forward to testing it.

Cheers
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