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Simple H1 GBPUSD EA

Quoting geoffb65
Alpari UK is GMT +2 !
Would somebody be so kind and post a SET file that works for

Alpari Micro account and/or Forex.com/UK Mini account?
500€ balance
Whatever pair...

Last few days I read almost all posts in this thread, tried almost anything written, but EA takes at most 1 or two trades per day or even not this. But most of the day no trades at all...

Thanks,
ST
Quoting geoffb65
Yes, the thread has grown somewhat!

We introduced the 197 SMA in an attempt to reduce the losses that we had when using just 10 SMA, it first came in with v7.

It reduces bad entries at the bottom of troughs and the top of peaks, because the 197 SMA is slower to turn round we end up with conflict with the 10 SMA and this stops us from placing an order.

Also, of course, we are now trading with the longer term trend.
So let me see if I get this.

We trade in direction of the 10 and 197 SMA.
We don't trade if price is making a top or bottom near the 197 SMA?

So if the slopes of the two SMA's are different, we don't trade.

Hope I got this right?

Thanks for the fast reply.
Quoting Tbb
So let me see if I get this.

We trade in direction of the 10 and 197 SMA.
We don't trade if price is making a top or bottom near the 197 SMA?

So if the slopes of the two SMA's are different, we don't trade.

Hope I got this right?

Thanks for the fast reply.
That's correct from the EA point of view but, if you are trading manually you have the advantage of experience and Mk1 eyeballs to help you make your decision.

The basic strategy only looks to the 10SMA slope between the two previous candles before the start time, i.e. 21:00 and 22:00 GMT.

The start time is during the 23:00 GMT H1 candle, one hour before Tokyo opens, which is between NY closing and Tokyo opening.

Just using 10 SMA seems to have worked well for the manual traders but I guess they also look to the general trend as well.
Quoting Tbb
So let me see if I get this.

We trade in direction of the 10 and 197 SMA.
We don't trade if price is making a top or bottom near the 197 SMA?

So if the slopes of the two SMA's are different, we don't trade.

Hope I got this right?

Thanks for the fast reply.
I would recommend that you look out for posts from Calstock, he is a manual trader and has had great success using this strategy.

I am not the best person to ask about manual trading!
Quoting SlimTom
Would somebody be so kind and post a SET file that works for

Alpari Micro account and/or Forex.com/UK Mini account?
500€ balance
Whatever pair...

Last few days I read almost all posts in this thread, tried almost anything written, but EA takes at most 1 or two trades per day or even not this. But most of the day no trades at all...

Thanks,
ST
The ideal settings are the default settings!

The default setting is also the setting for Alpari UK, i.e. GMT +2.

If you use forex.com, use the default settings plus GMT 0.

If you read the strategy in post #1 you may have noticed that the EA only trades once a day at most, 1 hour before Tokyo opens, if the conditions are wrong, like yesterday, the EA will not trade.
Quoting geoffb65
I would recommend that you look out for posts from Calstock, he is a manual trader and has had great success using this strategy.

I am not the best person to ask about manual trading!
You know, I feel like I already know you. You are very humble.

Thanks, for the help, I'll look into more of the posts as I read through this thread.

I am solely a Price Action trader, but I feel this has potential and so far what I've seen is that your EA follows PA well, which is why it is very suitable for me. I tend to stay away from EAs, robots etc, but this system is very proper.

Your efforts are greatly appreciated.
Quoting Tbb
You know, I feel like I already know you. You are very humble.

Thanks, for the help, I'll look into more of the posts as I read through this thread.

I am solely a Price Action trader, but I feel this has potential and so far what I've seen is that your EA follows PA well, which is why it is very suitable for me. I tend to stay away from EAs, robots etc, but this system is very proper.

Your efforts are greatly appreciated.
I deliberately avoid indicators, like you I prefer PA, it is a good idea to monitor the EA on a demo account and compare it with your manual strategy.

So far, it has proved to be very accurate.
hello,
anyone knows odl gmt?
Quoting hipofiz
hello,
anyone knows odl gmt?
you can find out by comparing the time of your current candle to gmt http://wwp.greenwichmeantime.com/
Quoting cprao
Do you suggest any minimum balance ? I did a backtest (again) from 2001-01-01 to 2009-06-01 (9 years) with a capital of $1000.
Dude, how long is it takes? Probably few days? How the heck you can

compare 2001 to 2010? This is all different ball play now..

It's just useless what are you doing, but if you have Free CPU

and spare RAM, what the heck, keep running
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
Quoting SkyzerFX
Dude, how long is it takes? Probably few days? How the heck you can

compare 2001 to 2010? This is all different ball play now..

It's just useless what are you doing, but if you have Free CPU

and spare RAM, what the heck, keep running
Please help me i want to trade this system manualy for a try dont trust eas. Do you just put a sma 197 on and trade with its slope. 3 order 140 sl and that different tps?

Quoting geoffb65
Quoting SkyzerFX
Dude, how long is it takes? Probably few days? How the heck you can

compare 2001 to 2010? This is all different ball play now..

It's just useless what are you doing, but if you have Free CPU

and spare RAM, what the heck, keep running
It takes couple of hours to run through.. not days.. I initiate in the night.. morning I get the report.. no spare RAM required (at least for me)..

I am also doing forward test on my demo account..

It does not prove that EA is good or bad.. but it does help us to understand certain aspects
1)if you are getting consecutive losses. gives a base to understand how was the market at that time and how it can be related to the current situation.

2) Also when I tested first time, I noticed that the equity curve is always above the balance curve.. it does indicate that we can increase our first profit target from 20 pips to probably 30 pips.. (yet to test it)..

Hope it does make some sense to you..
Quoting Neller
Please help me i want to trade this system manualy for a try dont trust eas. Do you just put a sma 197 on and trade with its slope. 3 order 140 sl and that different tps?
You should just use 197 SMA for the general trend, not to trade.

The main guide is the slope of the 10 SMA between the two previous candles.
The trade is entered during the 23:00 GMT H1 candle so we look at the 10SMA slope between 21:00 and 22:00 GMT bars, if the slope agrees with the slope of the 197SMA we can be confident to trade.

For the entry point the EA looks at fractals on the M5 chart during the 23:00 H1 bar. If the SMA's agree for a long entry we look for a locked low fractal on the M5 chart for the entry point.

By locked, this is important, you must wait for the third M5 bar after the fractal is drawn because fractals can redraw before the third bar!

If you don't get the correct, locked fractal, don't trade.

Hope this makes sense!
Hi.

I have backtests through 1992 and I think they are absolutely necessary. The more market conditions you can survive through.... the more realistic your assessment of the EA becomes. A few months testing only shows market conditions for a few months, which is sure to change.

Chaio.

Quoting cprao
Thank you for your quick response.

I understand it.. backtesting is not a gurantee that it works in live trading.. or vice versa

But I think-- to some extent backtesting is required - even to consider for live testing. I do understand that lot of people in this thread are doing live everday.. which probabaly testfies the worth of this EA.

To be honest, I am concerned with one aspect of this EA - stoploss being at 140. It can wipe out 7 wins (partial - only one trade hit profit)..

Now I am also putting on this on FXDD (demo) account for...
Does v7 or the 3 trader use fractals? After reading entire thread I was under the impression it didnt.
Thanks
if i use the ea do what chart must it be out h1?

Quoting geoffb65
You should just use 197 SMA for the general trend, not to trade.

The main guide is the slope of the 10 SMA between the two previous candles.
The trade is entered during the 23:00 GMT H1 candle so we look at the 10SMA slope between 21:00 and 22:00 GMT bars, if the slope agrees with the slope of the 197SMA we can be confident to trade.

For the entry point the EA looks at fractals on the M5 chart during the 23:00 H1 bar. If the SMA's agree for a long entry we look for a locked low fractal on the M5 chart for the entry point.

By locked, this is...
Quoting Neller
if i use the ea do what chart must it be out h1?
Yes the EA works on H1 GBPUSD only!
Quoting tazmaan
Does v7 or the 3 trader use fractals? After reading entire thread I was under the impression it didnt.
Thanks
Fractals are an integral part of the EA!
i have it on so lets see how it works

Thanks allot

Quoting geoffb65
Yes the EA works on H1 GBPUSD only!
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