PSAR/BB System for Binary Trading Needs EA | Forex Factory

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Attachments: PSAR/BB System for Binary Trading Needs EA
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PSAR/BB System for Binary Trading Needs EA

  • #1
  • First Post: Edited Jan 2, 2014 1:20am Dec 31, 2013 10:37am | Edited Jan 2, 2014 1:20am
This is a very simple system, it uses only 2 indicators and could easily get you several winning binary trades every day. I found a EA that will copy EA trades to a Binary account, I just need an EA for my system.

It uses BB and Parabolic SAR both with default settings, you go long when PSAR jumps outside the bottom BB and go short when the PSAR jumps outside the top BB, but no trade when PSAR moves gradually outside the BB just when it jumps(see pic)
Could someone please create an EA with the following user options that will work with a 5 digit broker.
Default Parameters:
Magic Number 1234
trade size .01
trading hours timer
Trading Days timer
E-mail alert when a trade is placed
Instead of using TP and SL automatically close all trades at the close of the candle after the entry candle or possibly a user option that will close all trade so many minutes after they are opened, that way it could be backtested and used for scalping in the regular FX market on higher timeframes.

Attached Image (click to enlarge)
Click to Enlarge Name: sys pic.JPG Size: 159 KB

My arrows are not accurate the entry signal is the first PSAR dot outside the BB, the trade should be placed as soon as it appears with the new candle.

I did a visual backtest for the Euro on a 15m TF for December, arguably the worst month for trading and this system would have produced 95 trades, 78 winners and only 17 losers. I would like to do an extensive backtest but I need an EA before that could happen. I'm working on December visual backtests on other pairs, I'll post them as soon as I finish.
  • #2
  • Jan 2, 2014 1:18am Jan 2, 2014 1:18am
I did some more visual backtesting for December on several pairs and the results are very promising.

GBP/USD- 54 wins and 27 losses
USD/JPY - 61 wins and 19 loses
AUD/USD- 52 wins and 16 losses
EUR/JPY - 62 wins and 23 losses
EUR/GBP - 63 wins and 20 loses
USD/CHF- 10 wins and 30 loses

Any of these pairs would have been profitable in December, I'd like to do extensive backtesting but I don't know how to program an EA.
  • #3
  • Jan 3, 2014 6:54am Jan 3, 2014 6:54am
I can't believe nobody is interested in this system, it's the closest thing to a holy grail system that I've ever seen it could provide accurate signals for 60 second binary options when used on a 1min tf at over 80% accuracy, and using a 15min tf it provides the results I posted in my previous posts and a good MM strategy this system could multiply your account 10 to 20 times a month easily. With a 75% return per trade (low for binary) the trade results I posted for those 6 pairs from last month with a $5000 account risking $100 per trade would have generated $32,925 in winning trades, and 15,000 in loses for a net profit of $17,925 without increasing trade size, if you just concentrated on the Euro making $500 trades you would have had 77 winners generating $28,875 in profitable trades and $7,500 in losses giving you a $21,375 net profit without increasing risk as your account grows, which I would do on a daily basis.
  • #4
  • Jan 3, 2014 10:04am Jan 3, 2014 10:04am
Here you go........

Used a shell that i have, it has most functions you want....
Attached File(s)
File Type: mq4 Jaws_BBPSAR.mq4   25 KB | 1,591 downloads
  • #5
  • Jan 3, 2014 10:06am Jan 3, 2014 10:06am
Quoting jaws810
I did some more visual backtesting for December on several pairs and the results are very promising. GBP/USD- 54 wins and 27 losses USD/JPY - 61 wins and 19 loses AUD/USD- 52 wins and 16 losses EUR/JPY - 62 wins and 23 losses EUR/GBP - 63 wins and 20 loses USD/CHF- 10 wins and 30 loses Any of these pairs would have been profitable in December, I'd like to do extensive backtesting but I don't know how to program an EA.

Unless you are a expert backtester, visual back testing results are practically useless. They will give you a vague idea of how it might work, but you eyes will deceive you too many times to trust the results. I have been there and done that myself many times.

Plus a one month period of testing is much too unreliable. Most losing systems have profitable runs from time to time. Profitable results for one month is nothing special, I have seen it several times myself.

If you truly belive the the system is profitable, live trade for 3 months and show the results on Trade Explorer. Then myself or someone might look at it.
  • #6
  • Jan 3, 2014 10:13am Jan 3, 2014 10:13am
With PSAR I am pretty sure you need to test the signals live since the dots will move around while the bar is still open. So what looks like a good signal on the chart when you go back an look at it might not have been when the signal actually happened.

Quoting jaws810
I can't believe nobody is interested in this system, it's the closest thing to a holy grail system that I've ever seen it could provide accurate signals for 60 second binary options when used on a 1min tf at over 80% accuracy, and using a 15min tf it provides the results I posted in my previous posts and a good MM strategy this system could multiply your account 10 to 20 times a month easily. With a 75% return per trade (low for binary) the trade results I posted for those 6 pairs from last month with a $5000 account risking $100 per trade would...
  • #7
  • Jan 3, 2014 10:49am Jan 3, 2014 10:49am
Quoting CodeMeister
{quote} Unless you are a expert backtester, visual back testing results are practically useless. They will give you a vague idea of how it might work, but you eyes will deceive you too many times to trust the results. I have been there and done that myself many times. Plus a one month period of testing is much too unreliable. Most losing systems have profitable runs from time to time. Profitable results for one month is nothing special, I have seen it several times myself. If you truly belive the the system is profitable, live trade for 3 months...
This is true with most systems, but not if you're testing for Binary, I look at the open of the candle where the trade would be placed and the close of the next candle and if there's a .1 pip or more move in the right direction It's in the money.
  • #8
  • Jan 3, 2014 10:52am Jan 3, 2014 10:52am
Quoting AimHigher
With PSAR I am pretty sure you need to test the signals live since the dots will move around while the bar is still open. So what looks like a good signal on the chart when you go back an look at it might not have been when the signal actually happened. {quote}
I did think of that, the PSAR does not repaint when the dot appears it stays where it appears no repainting, I watched the charts to verify.
  • #9
  • Jan 3, 2014 10:53am Jan 3, 2014 10:53am
Quoting Gvc
Here you go........ Used a shell that i have, it has most functions you want.... {file}
Thanks, I'll check it out and post the results.
  • #10
  • Jan 3, 2014 12:29pm Jan 3, 2014 12:29pm
Quoting jaws810
{quote} This is true with most systems, but not if you're testing for Binary, I look at the open of the candle where the trade would be placed and the close of the next candle and if there's a .1 pip or more move in the right direction It's in the money.

Obviously you have a lot to learn.
  • #11
  • Jan 3, 2014 3:22pm Jan 3, 2014 3:22pm
Quoting CodeMeister
{quote} Obviously you have a lot to learn.
I was watching it in a visual backtest and it was going too fast to see the repaint because it occurs only when the price crosses over the old dot. I see it now, makes things a bit more difficult. It might still work.
  • #12
  • Jan 3, 2014 3:38pm Jan 3, 2014 3:38pm
Back testing of any type takes a lot of expertise to avoid the "gotchas". I am not an expert myself, but I know what it takes to be one and some of the gotchas. Unless it is done by an expert, it cannot be relied upon.

If your PSAR repaints, there is little or no chance of it being useful in a mechanical system. Of course, the charts will look tremendous. Like Aimhigher, I believe most of repaint.
  • #13
  • Last Post: Jun 25, 2017 11:44am Jun 25, 2017 11:44am
Quoting Gvc
Here you go........ Used a shell that i have, it has most functions you want.... {file}

It made $200 after a deposit of $1000 on M-15 timeframe on EUR-USD in one month on demo account. All the trades were winner, no loser.
Take Profit=10, No Stop Loss.

However it struggled up to negative 80-90 pips in some trades, before going positive. I fear it may go in loss without stop-loss.
Any suggestion to counter this inevitable situation !

-Any ''LOSS RECOVERY EA''! (For Free) or paid ?
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