Trading EA with Potential Needs Some Help!

I have an EA that I thought had decent potential. Essentially, after price hits high of the day, the EA will wait for a red candle to close and sell at the low of that red candle. This happens on M5, M15, M30, H1 and H4. And for the low of the day, the same sequence occurs but for long entries. So it constantly plays both sides of the market and then by the end of the day, you will end up 5 entries that is pretty good in price relative to the close (provided that the daily candle moved a bit). If a nice trend happens, then this thing can pile up money (since each day will have 5 orders in the direction of profit). For instance, I tested multiple currencies and some of them were in significant profit at one point but ends up losing it by the end because I have not configured a take profit into the EA. EJ for example, using .1 lots, the EA managed to get up to $140k-ish, EU made $140k-ish, GJ made $100k-ish and GU made $80k-ish. This was all based on 2010.

The EA did this without any direction bias, size bias, or TP configured. So I had a coder try to code in some things like directional bias (based on momentum candles in a higher TF), TP based on time (end of day, week or month), and some other goodies. But I've hit a wall so I am coming to FF for help. I figured that the bright minds here might be able to make this useful.

I think there might be some potential to trade this as a basket (pick weekly direction for each pair and hope that some trend nicely).

P.S. - Initially, this was created with "Building an Equity Millipede" in mind.

Edit: I uploaded an updated version that fixes all of the bugs.

You are missing three files, debug.mq4, inform.mq4, and openorder.mq4.
if you upload them, we can have some test of this ea

Here they are...

They need to be saved in the "include" folder.

Is the version 2 of alculateOrders.mq4 any different then the built in function calculateOrders?

attached is tester results using the default settings. Did you optimize the parameters to get 10K to 140K in equity?

Here are the settings:


Symbol - EURJPY (Euro Vs Japanese Yen)
Period - 5 Minutes (M5) 2010.01.03 23:00 - 2010.10.15 20:55 (2010.01.01 - 2010.10.31)
Model - Every tick (the most precise method based on all available least timeframes)

Parameterssep_01="E N T R Y S E T T I N G S"; lot_size_01=0.1; lot_size_02=0.1; enable_money_management=false; risk_percent_01=1; risk_percent_02=1; entry_buffer=0; enable_M5=true; magic_M5=1001; enable_M15=true; magic_M15=1002; enable_M30=true; magic_M30=1003; enable_H1=true; magic_H1=1004; enable_H4=true; magic_H4=1005; sep_02="S T R A T E G Y S E T T I N G S"; stop_buffer=2; min_TP=10000; profit_multiplier=1.5; bars_after_level=5; red_rat=true; green_rat=true; expiration_TF=1440; sep_03="M O M O"; enable_momo_filter=false; manual_momo_01=0; manual_momo_02=0; momo_TF_01=240; momo_TF_02=1440; momo_percentage=200; momo_average_bars=5; sep_04="B R E A K E V E N"; enable_breakeven=false; breakeven_after=50; breakeven_value=1; sep_05="T I M E S E T T I N G S"; enable_orders_expiration=false; s_start_time_01="0:00"; s_end_time_01="24:00"; sep_labels="L A B E L S"; enable_labels=true; show_direction=true; show_orders=true; show_order_sizes=true; show_profit_taking=true; show_breakeven=true; show_trend_bias=true; show_time=true; X_shift=100; Y_shift=100; label_offset=10; label_corner=0; labels_color=White; sep_06="O T H E R S E T T I N G S"; enable_daily_lines=true; daily_high_color=DodgerBlue; daily_low_color=Red; daily_high_style=0; daily_low_style=0; magic=2352;

Despite receiving no attention, I have decided to try and revive this thread. I have been working with this EA but using it as a manual trader (sort of like snowball). I look for supply and demand zones and momentum bars on the D1 and W1 TF. Last week, this EA did awesome to say the least much in part because I was able to choose the correctly weekly trend. In the beginning of this week, I tried to anticipate reversals (instead of waiting for confirmation) plus I noticed some bugs in the EA. If a coder can help with some of the bugs, I think this could be a wonderful semi-automatic EA. After it gets on a roll, pips just come flying in.

Some issues:

1. Some bad entries when the EA is initially placed on chart and when MT4 restarts.
2. Sometimes the EA fails to place an SL based on the rules. There are some pairs in big drawdown when that should not be the case.
3. I would also like the daily high/low be calculated from when I place the EA on the chart. In other words, I wait for price to retrace, then I turn on the EA for the pair. I would then like the low or high to be based on when it is turned on (when the actual daily high or low may be different).

Can a coder please help with this? Please click on my signature to see stats. Remember that the beginning of this week was horrible because of bad entries and some no SLs (and all of my gains are unrealized right now).

Here is EU,

In the beginning of the week, I tried to anticipate a reversal based on supply zone but I really should have waited for confirmation. After it broke out north, I set my EA to enter only buy entries. And look at those entries now. These are at the best possible day. And if EJ continues to move up, then these positions will continue to pile up unrealized gains.

http://i53.tinypic.com/28byazo.gif

I just wanted to show some potential to get people's attention.

You can definately write proftiable EAs when you aim for a rather low hitrate with a few large trades which have high RR. I do this, too. You're on the right track. Most EAs fail because they can't beat the spread with their tiny TPs relative to the Spread. So even with 20 SL and 20 TP you won't end up BreakEven with roughly 50% hitrate because spread kills your account on the long run.

TJPLD,

I fully agree. What some people don't realize is that high RR is an EDGE. If you combine it with another edge like S&D zones and momentum candles (on weekly and daily TFs), then we might have something.

Even with the horrible beginning of the week, here is my information screen as generously provided by Macman:

http://i52.tinypic.com/158be4g.gif

I am very close to making back all my stupid mistakes from earlier this week. I intend to hold some of my positions unlike last week. Note that I am only using $1/pip. So these are not high leverage positions.

http://i52.tinypic.com/339umpz.gif

I don't think many people are watching this but if there is then here is an update:

http://i51.tinypic.com/2ymitk4.gif

You can see which direction I am trading for my open positions.

Check Post 1 as I updated to a newer version that fixes all bugs.

Pop goes the weasel

http://i51.tinypic.com/m7rfdh.gif

This will be my last post unless there is actual interest in this. I've closed two of three pairs. And I am only holding EURCAD long until it reaches (at least) the next supply zone.

I will be scanning other pairs to see if I can detect an obvious LT trend.

http://i52.tinypic.com/2lloxld.gif

Hi newark18!

I started to test this EA today - by your amazing results - and I want more information, if you please...

1. Can you show the actual setup ?( The one you attached to the first post was for the previous version, wasn't it?)
2. Do I have to interfere when the EA is working, or is it fully automated ?( I noticed, that today all closed position was SL, though there was many winner position through the day...)

Thank you for sharing the EA!

HI,

For some reason It wont even let me attach your EA to my chart, I use cpl EA's which work fine but yours doesnt seem to work at all. Never experienced similar issue so im clueless how to fix it.

Thx

This is not a fully automated system. I started a new thread that you can follow:

http://www.forexfactory.com/showthread.php?t=289797

And sorry I do not know why you cannot attach to a chart. Did you compile it correctly? You must put the include files in the include folder. And then compile it.

Thanks, I'll take a look.

Please send me the details description of the EA and the also the screen showing all the information was not displayed on my MT4