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Attachments: EA - "Simple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Sait"
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EA - "Simple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Sait"

  • Post #1
  • Quote
  • First Post: Edited Aug 26, 2009 2:04pm Aug 14, 2009 12:58pm | Edited Aug 26, 2009 2:04pm
Hi,

I started thread here: http://www.forexfactory.com/showthread.php?p=2956155
but I thought it might be better to start new thread here.


About 6 months ago I've created for myself EA based on this method. For 2 months I was in process of testing it but due to lack of time (two small girls I've never finished and for that reason I've deceided to share this EA, maybe you have time to test it and could tweak it based on your feedback. I need to know where EA trades differs comparing to manual method. EA works well just needs some tweaking.

Few words about EA:
Entry:
uses original entry conditions for MACD, Laguerre, Stochastic and Pivot.
EA doesn't consider Bolinger Bands

Exit:
closes position on MACD crossover or
Stop Loss or
Take Profit - which is set to nearest Pivot resistance or support. If nearest pivot point is closer than 2*SL chooses next one.

Parameters:
Lots - obvious
StopLoss - (I use 5 digit broker so default SL is 200. For 4 digit use 20)
TrailingStop - (for 5 digit broker recommended is 300. For 4 digit use 30)
UseTailingStop
SetTakeProfitOnPivots - if true sets Take Profit on nearest Pivot resistance or support
TakeProfit - for 5 digit broker recommended value is 500. For 4 digit - 50
UseTakeProft - Enables TakeProfit option, has higher priority than SetTakeProfitOnPivots, so if both are true SetTakeProfitOnPivots is ignored.
MaxSpread - Max spread for trading (recommended 100 for 5digit, 10 for 4digit brokers)
TradeOnNewBar - if true opens positions only on new bar
ShowPopUpWindows - disables pop-up window alert, sound is still active
UsePivotsForEntry - set false if you want to ignore Pivots
UseEMAForEntry - price has to be above or below EMA60 and EMA200 for sell or buy

Files - copy them to apropriate directories:
/experts/indicators - AutoPivot.mq4, Laguerre-ACS1.ex4, MACDTraditional.ex4, StochHistogram.mq4
/experts - Scalpel.mq4
/templates - scalpel.tpl
5min_trade_strategy_imransait_ver1.2.pdf - strategy documentation

Important information:
EA can be used on different timeframes within platform, but you can't mix pairs. If you want to test it on differen pairs you have to open new window. This EA was never tested on other pair than GBP/JPY.

EA can be used as "signal alert" - simply don't tick box "Allow live trading". To turn off alerts un-tick box "Enable alerts"

Happy testing and trading
Daniel

Update version 1.23 25.08.2009
Changes:
Added TakeProfit and UseTakeProfit parameters - if UseTakeProfit is false uses standard TP levels as described in 1st post. If true sets TP to TakeProfit parameter.
Added ShowPopWindows parameter - if false pop-up windows wont't open, includes close trade. Sound alarm is always active

Ver. 1.24 26.08.2009
Added option UsePivotsForEntry

Ver 1.26 26.08.2009
Added SetTakeProfitOnPivots parameter
Added UseEMAForEntry parameter
Attached Files
File Type: pdf 5min_trade_strategy_imransait_ver1.2.pdf   308 KB | 4,897 downloads | Uploaded Aug 26, 2009 6:06am
File Type: mq4 AutoPivot.mq4   15 KB | 2,193 downloads | Uploaded Aug 26, 2009 6:06am
File Type: ex4 Laguerre-ACS1.ex4   4 KB | 2,177 downloads | Uploaded Aug 26, 2009 6:06am
File Type: ex4 MACDTraditional.ex4   3 KB | 2,055 downloads | Uploaded Aug 26, 2009 6:06am
File Type: tpl scalpel.tpl   9 KB | 2,245 downloads | Uploaded Aug 26, 2009 6:06am
File Type: mq4 StochHistogram.mq4   3 KB | 2,144 downloads | Uploaded Aug 26, 2009 6:07am
File Type: mq4 Scalpel.mq4   10 KB | 2,889 downloads | Uploaded Aug 26, 2009 1:47pm
Thanks djanowski! I'm gonna try your EA. I think it's worth having even if for the alert and then monitor the trade. Here's the link if anyone wants to check out the strategy:

http://www.forexfactory.com/showthread.php?t=48926
Inserted Code
//    MACD
      if (MACDHist>0) {MACDbuy=true; MACDsell=false; MACD="MACD buy";} else {MACDbuy=false; MACDsell=false; MACD="MACD no signal";}
      if (MACDHist<0) {MACDbuy=false; MACDsell=true; MACD="MACD sell";}
MACDHist>0 doesn't represent our signal condition, and i think "else" is best positioned in the last.

i think it should be:
if (MACD crossover to positive) {MACDbuy=true;blabla}
else if (MACD crossover to negative) {MACDsell=true;blabla}
else {MACDbuy=false;MACDsell=false}

which part of code do you want to be tweaked sir ?
would you please explain "TradeOnNewBar - if true opens positions only on new bar" mechanism, i don't catch it yet.

what's the correlation to iVolume ?
  • Post #5
  • Quote
  • Edited at 11:17am Aug 15, 2009 3:33am | Edited at 11:17am
Quoting herry_winandi
[code]//...
Code doesn't have errors, it works well. I need to improve general idea of closing positions, setting stops etc. Usually trades are closed too late, very often still on plus but could be better. Run it for couple of days you will see what I mean.

Trade on new bar?
you mean this line:
if (iVolume(NULL,0,0)<11) {LockBar=false; LockBar_s=""; Trade=true; if (TradeOnNewBar) TradingOpenNewBar="New Bar Trading Activen";} else {Trade=false; TradingOpenNewBar="";} //Unlock Bar

I use iVolume to detect new candle and allow to trade only during on opening, practically during first few seconds. When iVolume is close to 0 it means it's new bar Maybe there is neater method to detect it which don't know, but this one works as well

Daniel
Will have a looksee. Dzieki kolego!
hoo i got it.. thx for sharing sir..

i've plan to develop EA based on imran said method and i will try to tweak your code, it may take time since i'm new in mql programming
Thanks very much Djanowski for this EA.

Have a lot a pips !!

Regards
Hi,

Is anyone re-coding this EA? If so, here are some suggestions. Add a sound alert/pop up box option in the properties tab so it will give an alert when a new setup occurs without the buy/sell box popping up. And only give a close alert on open trades. Also check the s/l function, I had it set to 20 and it gave me a 26 pip s/l. Also a t/p amount would be nice. These are the most important ones right now, I have more ideas to make it better. If your re-coding this EA and want to hear some other suggestions PM me.

Thanks...
Hi guys,

I'm running this ea on ej for a few hours, but ithas yet to take a trade. I notice that macd/stock/pivot etc all say sell or buy signal, except lag which is continuously saying No Signal, although I can see visually that there is a valid signal.

Anybody notice that, or am I doing something wrong? Be great if somebody could also add a tp to it.

Regards
Pardy
  • Post #11
  • Quote
  • Edited Aug 26, 2009 6:20am Aug 25, 2009 7:06pm | Edited Aug 26, 2009 6:20am
Hi,
Thank you for your feedback...


Quoting 4xbiz-surfer
Hi,

Is anyone re-coding this EA? If so, here are some suggestions. Add a sound alert/pop up box option in the properties tab so it will give an alert when a new setup occurs without the buy/sell box popping up. And only give a close alert on open trades.
No problem I can add pop-up box as option, also close alert as option. I use this EA quite often as "alert", so close alert is useful and obviously EA has no idea that I have trades opened manually.

Quote
Also check the s/l function, I had it set to 20 and it gave me a 26 pip s/l. Also a t/p amount would be nice. These are the most important ones right now, I have more ideas to make it better. If your re-coding this EA and want to hear some other suggestions PM me.
It gave you 26pips SL because I coded SL as SL+spread, which is suggested in method description.
I can add TP value.

I will do it in some free time, which hopefully will be tommorow

Daniel

Update: I've coded all your suggestions. I'm not sure if it works well I haven't got time to test it.
Changes:
Added TakeProfit and UseTakeProfit parameters - if UseTakeProfit is false uses standard TP levels as described in 1st post. If true sets TP to TakeProfit parameter.
Added ShowPopWindows parameter - if false pop-up windows wont't open, includes close trade. Sound alarm is always active

Update: version 1.23 uploaded, seems to work well.

Download updated version in 1st post.
Quoting Pardy
Hi guys,

I'm running this ea on ej for a few hours, but ithas yet to take a trade. I notice that macd/stock/pivot etc all say sell or buy signal, except lag which is continuously saying No Signal, although I can see visually that there is a valid signal.
macd/stock/pivot will always show theirs status. It is normal. To have valid buy or sell signal all of them plus laguerre must match.
Do you have screen from that situation? Without that its impossible to judge.

Daniel
Djanowski,

Great stuff. Justa few comments:
1. Pivots. These will be different depending upon your broker. So probably plotted at different values for different platforms, which will make a large difference.
I was part of the skype group of traders trading this strategy many months ago. One of the traders there, yas1r, was hugely successful with the strategy, altho' he had tweaked it a bit and made it his own. Basic principles were the same, he added a mtf dimension, so would look to the lags on higher tf's for direction. Is it possible to add in a condition on fast lag looking at slope each hour, so if fast lag is lower than previous hour, only short trades. I know this worked very well for yas1r.
Also took bounces off the 60/200 ma's. Anyway, most people did not always pay attention to the rule on pivots, ie price above pivot only long etc.
Therefore it might be an idea to simply add a switch, true or false, to the pivot, to add/remove it from the signal.
Also to program an offset in it to allow for broker time differences. The former should be easier.
2. Next time, I'll save the chart and post it where I think it should have taken a trade dependant on the lag position, and it didn't.

Thanks for your effort.
Regards
Pardy
Thanks Daniel, for all your work. I just recently learned about the Laguerre System and your EA. Been studying it and like what I see. Eventually some profit management would be nice. Like after 10 pips, take some off the table and move stop to break even. Of course these would need to be adjustable so we could test for the best settings.

Kevin
Thanks Daniel for making those changes! Greatly appreciated...
  • Post #16
  • Quote
  • Edited at 10:44am Aug 26, 2009 10:33am | Edited at 10:44am
Quoting Pardy
I was part of the skype group of traders trading this strategy many months ago.
How was performance over longer period of time?
Quote
Is it possible to add in a condition on fast lag looking at slope each hour, so if fast lag is lower than previous hour, only short trades. I know this worked very well for yas1r.
Do you mean to look for confirmation on fast lag on H1 chart? Only at direction? What about long trades?
Quote
Also took bounces off the 60/200 ma's.
Hmm interesting idea, I could try to add it somehow, is it only condition for entry? What about exit?

Quote
Anyway, most people did not always pay attention to the rule on pivots, ie price above pivot only long etc.
Therefore it might be an idea to simply add a switch, true or false, to the pivot, to add/remove it from the signal.
Done! Version 1.24 in 1st post. After quick testing I think that when UsePivotsForEntry is false then it's better to let EA open trades only on new candle opening so set TradeOnNewBar - true.

Kevin: You can use TrailingStop option.

Daniel
New version to download and details in 1st post.

Daniel
First time in here, just down load new version , so time to go and play. Thank You. I WILL BE BACK

Richard
Dan,

First time in here too. Will let you know as I play with it. Have you tried any backtesting?

Kostas
Any explanation for these repeated trades? I have seen it in other dates also (results from backtesting).

Regards,
Kostas
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