First look at Ematrader's latest EA

Your first priority is getting another job.

Trading with pressure on you in order to get an income especially in your situation, usually goes the bad route.

my method is nothing fancy. Just ATR stops and going with the trend. I don't day trade due to time constraints so I'm more of a swing trader so value per pip can't be higher if i would be day trading. Once I finish college I'll make a decision to either find a job or experiment for a few months the day trading business.

As for the method is pretty simple. Going with the trend. I also use EW theory but just in order to identify the choppiness periods and know when they are over.

I wouldn't advise for you to go day trading. First find a job. Then gradually try to save part of your income to an account and start to trade bigger timeframes. Dailies are pretty good in my opinion. You won't win as much money due to pip value but the priority is having the execution right, and the dailies are more forgivin

I will look into it and warn everybody if i decide to share.

I have a simple one that I shared in another forum if you want to take a look:

I have no idea how it performs on lower time frames and how successfull it is in Forex.

In equities it has worked very well on the dailies, so it is my assumption it MAY work on lower time frames as well...

http://www.donnaforex.com/forum/index.php?topic=82.0

To sum up is:

RSI(55) and RSI(14)

if both above the 55 level, trade long. Accumulate everytime RSI crosses over 55 again if it gone lower than 55 at some point.

Under 45 level is the same but for shorts. between 45-55 on RSI(55) I consider we may be in a sideways market, so trade carefully.

I used ATR as stops or just higher lows or lower highs as stops.

If one's long and RSI(14) goes under 55 level do nothing but be prepared if price starts to go down. if it reverses and goes over 55 again accumulate.

again i have no idea how it works on lower timeframes but if you code we can check if it's profitable or not.

Salvador, can you speak to the "EW" theory? I'm with you on trading with the trend and have been using multiple Moving Averages. Works fine during the trend but the choppy periods eat me alive. Searching for some tips on identifying trend/choppy periods "in advance".

Thnx,

Pip Parade

I have made an EA that trades on the Salvador System, it is showing good results as a pipraider taking 10 pips per trade. I am just touching up the code to be allowed to trade both pips and with exits using salvadors system.

I will post the EA tonight, ready for tests and see what recommendations others can add to it. Maybe EMAtrader can see if the idea can help his system as well.

Thanks Salvador for the ideas.

V nice of u man

Can anyone code this system into an EA? it's a powerful trading system for the GBP/JPY. Im not sure if it works for other pairs as well. It's a system which my friend purchased. The strategist is a lady in South Africa. Who aims for 30-50pips a night with one simple trade on 5min chart. Its supposedly really good and it uses Boll. Bands with RSI. Take a look at my attachment. It shows the instructions of the strategy. This will make a good EA because it's a simple strategy. Let me know if you or anyone believes they can code this into an EA.

Hola Salvador (me imagino por el nombre que hablas español), but anyway let´s do it in english, i would like to contact you if possible please PM me

Sorry, I have not finished the exit strategy for the RSI EA, I will have it done over the weekend for everyone to have a look at.

but the system will need some improvements on a smaller time frame. lets hope we can get the input to make it work.

I have attached the RSI Based EA, it is not complete, but can be used to test the pipraiding section.
settings are as follows,

WaitState - Set in minutes, this is the amount of minutes the system needs to wait once a trade has been entered. It is used to eliminate whipsaws.
Lots - how many lots to open per position.
TakeProfit - used only in pipraiding mode, how pips to take profit.
StopLoss - used only in pipraiding mode, how pips to before taking loss.
PipRaiding - set to True to trade in pipraiding mode.
False will set it into the RSI trading system, only the placement of the entry orders are functional in this mode at this stage. I hope to complete the exit strategy over the weekend.

Pipfactor is used in the main trading system which is not complete, I will explain this setting in the next release.

thanks tokyojon i have no idea how it works on forex or in lower time frames as i said before but it may work i don't know.

The rules regarding exits etc can be a bit tricky to code since they can be subjective (either at a higher low or using some kind of volatility stop).

also whenever i'm long and see an acumullation signal, if that signal was issued at around the same price of a previous entry I ignore it, because there's no reason to accumulate one more entry if your last entry was still around break even.

The goal here is to pyramid and have lot of entries along a trend, and only allowing one to be in the red. So if we happen to enter at the end of a trend we may be stopped out in the red for this last entry but then we already had 9-10 entries in profit accumulated.

Here are a few examples on a couple of currencies and a stock index:

Green with arrows are original entries... dark greens are acummulation points. orange is acummulation points for shorts. It served me well when i traded stocks during the bear market. Also it got me out of the way on the strong rebound on S&P500 in March. It triggered a buy only at 860 points although in some stocks i was trading i was already long at around March 13th because some stocks started triggering buys on both RSI's around that time, especially retail, tech, etc etc...

Although I don't trade this system anymore it is now a sub-system of my main trading system/strategy. In my opiinion a trading strategy needs to have at least a couple subsystems like long-term, a trend based, oscilator based and mean revert system.

thanks salvador for the charts, i will have a look them over the weekend and see if i can come up with a complex equation on exits. I used the waitstate to try and and stagger the entries, but i like the idea of staggering the entries. I will include this in the next version.

I will also use support and ressistance levels in the later version, as if the price is approaching a support, i would be hesitant to enter enter longs and vica versa.

Salvador, can you speak to the "EW" theory you referred to in post 381?

I'm with you on trading with the trend and have been using multiple Moving Averages. Works fine during the trend but the choppy periods eat me alive. Searching for some tips on identifying trend/choppy periods "in advance".

Thnx,

Pip Parade

I believe Salvador was referring to Elliot Wave theory.

I've heard of it but am not familiar with how it works. Any insights to this short of going back to school?

EW theory is something it requires study and practice just to get the handle of it... First time I got with it it was so confusing thinking of 1 of A of 2 of 3 of A. Geez...

Anyways nothing to teach regarding it nothing better than going to the source... I'll post a pdf of the book later in here you can study from there...

In summary I try to avoid larger degree 4th waves which are typically constitude of a pattern of 3-3-3-3-3 waves or a-b-c-d-e ; and take the form of a triangle

Have a good weekend everyobody

Thanks Salvador, I'll keep an eye out for the PDF. Until then I think I'll just go stand in the corner until it's safe to come back out....

Happy weekend everybody.

Hi EmaTrader,

Any Progress on this EA? I am sure if we can make it automatically take the Long/Sell based on the trend it becomes a very good EA.

Please come back to help us to improve this.

Regards,
Prakash

Hi hall,
the stoploss is not profitable.Cover drawdaun EURUSD-AND-USDCHF.

//+------------------------------------------------------------------+
//| Variable Begin |
//+------------------------------------------------------------------+
double Var1 = iClose("EURUSD", PERIOD_M15, Current + 0);
double Var2 = iClose("USDCHF", PERIOD_M5, Current + 0);
double Var3 = iHigh("EURUSD", PERIOD_M15, Current + 0);
double Var4 = iLow("EURUSD", PERIOD_M15, Current + 0);
double Var5 = iHigh("USDCHF", PERIOD_M5, Current + 0);
double Var6 = iLow("USDCHF", PERIOD_M5, Current + 0);
//double Var7 = iClose("EURCHF", PERIOD_M5, Current + 0);
//double Var8 = iOpen("EURCHF", PERIOD_M5, Current + 0);


double Buy1_1 = iClose("EURUSD", PERIOD_M15, Current + 0);
double Buy1_2 = iHigh("EURUSD", PERIOD_M15, Current + 1);
double Buy2_1 = iClose("USDCHF", PERIOD_M5, Current + 0);
double Buy2_2 = iLow("USDCHF", PERIOD_M5, Current + 1);
//double Buy3_1 = iClose("EURCHF", PERIOD_M5, Current + 0);
//double Buy3_2 = iOpen("EURCHF", PERIOD_M5, Current + 0);
double Sell1_1 = iClose("EURUSD", PERIOD_M15, Current + 0);
double Sell1_2 = iLow("EURUSD", PERIOD_M15, Current + 1);
double Sell2_1 = iClose("USDCHF", PERIOD_M5, Current + 0);
double Sell2_2 = iHigh("USDCHF", PERIOD_M5, Current + 1);
//double Sell3_1 = iClose("EURCHF", PERIOD_M5, Current + 0);
//double Sell3_2 = iOpen("EURCHF", PERIOD_M5, Current + 0);
double CloseBuy1_1 = iClose("EURUSD", PERIOD_M15, Current + 0);
double CloseBuy1_2 = iLow("EURUSD", PERIOD_M15, Current + 1);
double CloseBuy2_1 = iClose("USDCHF", PERIOD_M30, Current + 0);
double CloseBuy2_2 = iHigh("USDCHF", PERIOD_M30, Current + 1);
//double CloseBuy3_1 = iClose("EURCHF", PERIOD_M5, Current + 0);
//double CloseBuy3_2 = iOpen("EURCHF", PERIOD_M5, Current + 0);

double CloseSell1_1 = iClose("EURUSD", PERIOD_M15, Current + 0);
double CloseSell1_2 = iHigh("EURUSD", PERIOD_M15, Current + 1);
double CloseSell2_1 = iClose("USDCHF", PERIOD_M30, Current + 0);
double CloseSell2_2 = iLow("USDCHF", PERIOD_M30, Current + 1);
//double CloseSell3_1 = iClose("EURCHF", PERIOD_M5, Current + 0);
//double CloseSell3_2 = iOpen("EURCHF", PERIOD_M5, Current + 0);

//+------------------------------------------------------------------+
//| Signal Begin(Entry) |
//+------------------------------------------------------------------+
if (Buy1_1 > Buy1_2 && Buy2_1 < Buy2_2 ) Order = SIGNAL_BUY;
if (Sell1_1 < Sell1_2 && Sell2_1 > Sell2_2 ) Order = SIGNAL_SELL;

GetOrder Buy EURUSD AND Buy USDCHF and close all Buy or take profit EURUSD or USDCHF

EXAMPLE:EURUSD OPEN BUY-BUY-SELL CLOSE ALL BEACOUSE TAKE PROFIT 10 POINT.................UP

USDCHF OPEN BUY-BUY-SELL NO CLOSE ALL BEACOUSE TAKE PROFIT -10 POINT................................DN

Your positions is blindet.This martingale no moutch Drawdaun.

Hi,
strategy money management is:
brakeout..............eurusd if up Buy 0.15 lots and usdchf Buy 0.10
brakeout revers.....eurusd if dn Sell 0.35 lots and usdchf Sell 0.20
brakeout revers.....eurusd if up buy 0.75 lots and usdchf buy 0.40

eurusd=Tot.lots is:
eurusd Buy 0.15+Buy 0.75=0.90
eurusd Sell 0.35 =-0.35
--------------------------------
Tot. +0.55

usdchf=Tot.lots is:
usdchf Buy 0.10+Buy 0.40=0.50
usdchf Sell 0.20 =-0.20
--------------------------------
Tot. +0.30

Hall deal +0.85 close all positions
MaxTrade 12
StpLoss all deal 188pips.

where do i find the mq4 file,theres no installation files to download can somebody direct me to the download page,please