- Most Forex traders lose all their money.
- Using the robot posted here in trading Forex does not guarantee success.
- Trading this robot could lead to serious financial loss.
- Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
- This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention - turning it off at news time, that sort of thing.
- At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
- To trade this robot, you have to understand:
- How to use EA's.
- The concepts of: higher-highs and higher-lows; lower-highs and lower-lows, for Aurora.
- The concept of the power of 'round', or 'big' numbers.
- The concepts of breakeven, trailing and jumping stops.
22nd October 2011. This EA appears to be a failure and I no longer have any interest in it. Continue at your own risk. This is not a reflection on the trading strategy. What follows is the original thread.
DO NOT USE THESE EA's ON LIVE ACCOUNTS
There are two EA's available here:
The only difference between them is the pending trade trigger.
cmac0351 asked me to look at this thread with a view to coding an EA for it: http://www.forexfactory.com/showthread.php?t=292877
Weekend backtesters: remember to widen the MaxSpread input or this filter will stop any trading.
Here is my understanding of the system:
- Very short-term scalping
- M5 EU chart. Look for trades at the start of each new candle.
- PwR indi:
- Blue = rising trend
- Red = falling trend
- Candle_Range_in_pips: Must be <= 15. > 15 stops the trade.
- MinimumCandleRange is an optional extra filter that is not part of the original spec. If the trigger candle is < this value, the trade is not taken. The default of 0 turns this filter off.
- Send a pending Buy at the previous candle high + spread when the previous candle's:
- PwR is blue
- high is higher and low is higher than that of two candles ago.
- Send a pending Sell at the previous candle low - spread when the previous candle's:
- PwR is red
- high is lower and low is lower than that of two candles ago.
- Stop loss: hi-lo of the previous candle, depending on trade direction. (I have included an optional StopLoss input that will override the hi-lo).
- Take profit: fill price +- (depending on direction) length of the candle. (I have included an optional TakeProfit input that overrides the auto-calculated tp).
- Unfilled pendings are deleted after 15 minutes.
The attached indis are downloaded from post 1 in the thread. You need them in your indi folder. You do not need them on your chart for the EA to work. You may want them on your chart for visual confirmation of the EA's behaviour.
These inputs work on you computer's local time, so you need to know what time it is where you live that the European markets get going and close down. Do not ask me about them here; do so and I will bar you from further posting in any of my threads without further warning.
None of these filters form part of the OP's system. I include them because they are part of the jiva bot that I have adapted for use here, and because they make sense to me.
The 'Trading Direction' inputs allow you to control the direction the EA can trade. If you only want it to trade in one direction, then set the other to false and turn off AutomateDirection.
From mysticgenie, I learned this:
- if the market is below yesterday's pivot, it tends to fall
- if above, it tends to rise.
From Ibuks, I learned this:
- if the market is above the H4 candle open price it tends to rise
- if below, it tends to fall
I have added two filters that allow you to take advantage of one or both of these ideas. Turn AutomateDirection to true, then select UseH4 and/or UsePivot to tell the EA to work out the trade direction for itself.
MustBeContinuingTrend is an input that allows you to tell the EA that the PwR histos must be moving in the right direction for the trade as well as being the correct colour.
Courtesy of jmw1970, we have the facility to trade lot sizes based on a pre-defined risk percentage. The lot size will adjust to reflect the amount of the account we are prepared to risk on each trade; this is based on the number of pips in the stop loss.
To use this feature:
- set Lot to 0 (the default). Setting Lot to a >0 size will force the bot to adopt this lot size.
- set RiskPercent to whatever percentage you are willing to risk.
Many thanks, jmw1970.
'Round', or 'Big' numbers
If UseRoundNumberFilter is left at its default of 'true', Aurora will not trade if:
- the open price for a buy is below the next high number and the tp is above it.
- the open price for a sell is above the next low number and the tp is below it.
All of Aurora's activities are hidden from the crims. These features are only available whilst Aurora is running on your platform and your machine is connected to the net, and your crim's server is up and running:
- 'Pending' trades are not sent directly to the crim's server. Their 'fill' price is held in the bot's memory. The pending price line is marked by a dashed green (buy) or red (sell) line. If the bot is unloaded for any reason, it will attempt to pick up where it left off by recreating the pending trade from the pending line. If the market has moved too far away from the 'fill' price in the meantime, the trade is cancelled.
- There are 'hard' stop and take profits sent with a 'filled' trade. Once there is a trade open, A will look for opportunities to close the trade at a distance of HiddenPips (a user input that defaults to 10) from the sl/tp.
The hidden stop loss and take profit are represented on your charts by dotted lines - green for tp and red for sl. The trade is closed when the market crosses these lines.
Breakeven, trailing and jumping stop functions work by moving the stop loss line, which in turn triggers trade exit at the appropriate point. You can also manipulate these manually by selecting (double clicking) the line and dragging it or changing its price in the line's properties window.
These functions are basically those from mptm, so users will understand them. Any of you who do not, find out. Clutter up this thread asking about them and I shall bar you from further posting in my threads; there will be no second warning.
The Breakeven function is slightly different to that of mptm. It is intended to combat those situations where the market almost reaches tp then retraces, eventually to stop loss. The point at which these bots move the stoploss line to breakeven is calculated as BreakEvenPercentageOfTp percent of the number of potential pips profit. The default is 75%,. Suppose the tp is 20 pips; when the market reaches +15 pips, the bots will move the sl to breakeven.
Maximum trades per day filter
These two inputs allow you to control the number of wins and losses you will accept during the day's trading:
They work with the trades you have in your history tab, so make sure this reflects your trading for today only; having a longer period in your history tab will calculate the overall profitability of Aurora over a longer period, but will stop trading once the value of these inputs is exceeded.
The function is purely a tally function; it does not worry about consecutive wins/losses. Setting thes inputs to 0 will disable the stop-trading function; Aurora will still calculate and display the overall position from the history tab.
Cci - applies to Aurora only
I have added this filter following requests; it does not form part of John's strategy. The default CciPeriod of 0 turns this filter off. Google Cci to find out what the indicator does; this thread is not the place to find out.
Hanover - applies to Aurora only
The Hanover module allows us to trade in the direction indicated by hanover's Recent Strength indi. I consider this to be the most significant development in my time at FF. Details in the Hanover thread athttp://www.forexfactory.com/showthread.php?t=319709
I have no idea whether this EA will prove to be profitable. I can say that it has started well.
One caveat to this. Developers of scalping systems routinely claim that they trade their system mechanically. Do they f*!!. They use as much market 'feel' as anybody else who has learned to survive the train-wreck that is Forex trading. Market 'feel' is impossible to quantify into an EA at this stage. Having uttered that warning, the OP's thread is still up and running after 6 months, which is a lot more than most of the threads I have opened; that represents a damn good start to me.
We shall see.
Gi has her genesis in this pm from John:
As I said on Aurora's thread I have some more kinda half-cooked systems on my mind.
For the last months I've been testing/trading the Aurora system manually. At the same time I started to implement what I now like to call Aurora's even hotter sister; Gi.
She uses the Slope Direction Line as main and only indicator.
She trades longs when the candle's body is above the line and shorts when it's bellow the line opening pending orders like Aurora does but she don't care about Hh Hl, etc... That is, at the opening of a new bar, same R:R
The Slope Direction Line indi is attached. You do not need it in your indicator's folder; thanks to jmw1970, the code is contained within the robot.
Matters of general interest
Read this post:
http://www.forexfactory.com/showthre...11#post4923611 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
If I code your EA for free, then I will share it here at FF. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account.
- MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
- Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
- Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 Also at http://www.forexfactory.com/showthre...98#post4709098, which includes a template for both USD and the Euro.
- Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthre...10#post3830610
Most promising trading EA's
- BigBob: an implementation of Nanningbob V10. http://www.forexfactory.com/showthread.php?t=309980. The strategy is fantastic and I am having a ball trading it manually. The EA is the most promising I have coded so far.
- Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
- Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I have traded this live.
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863