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There is no Magic Moving Average - You need only one 996 replies

Demo contest only - 20 pips TP and 20 pips stop - Any TF 51 replies

I lose 40 pips and win 6 to 10 pips... 17 replies

Need Script/EA can only generate Magic number 5 replies

spread on GBP/JPY @ alpari is 12 pips intead of 7 pips they claimed to be 6 replies

Attachments: Magic 5 - five pips only
Exit Attachments

Magic 5 - five pips only

A couple of other points.

Don't forget to change the MAGICMA for each chart if you are using the EA on multiple charts.
Lot Size (if changed from zero) overrides money management rules.
  • Post #222
  • Quote
  • Edited Dec 5, 2014 2:34am Dec 4, 2014 11:15pm | Edited Dec 5, 2014 2:34am
At the suggestion of tk5, I have now added an extra input parameter to give the option of trades, alerts or both

Trade0Alert1Both2 = 0 for trades only
Trade0Alert1Both2 = 1 for alerts only
Trade0Alert1Both2 = 2 for both trades and alerts

At the Message Box prompt in the case of Trade0Alert1Both2 = 2, if the "Cancel" button is pressed, no trade is executed.

Feedback appreciated!
Attached File
File Type: mq4 5 Pips System.mq4   13 KB | 305 downloads
  • Post #223
  • Quote
  • Edited at 2:34am Dec 5, 2014 12:28am | Edited at 2:34am
Here's a summary of the inputs for the EA

MAGICMA = 123450 ...................Each chart will need it's own unique MAGICMA
Trade0Alert1Both2 = 0 ...............Trades only, alerts only, or both
LotSize = 0 ...............................If you set your own lot size Money Management is overridden
MaximumRiskPercentage = 2 ......Only applicable if Lot Size = 0
ShortMA = 5 .............................Short Exponential Moving Average
Shift = 2 ..................................Shift value for Short Moving Average
MinBreakofSMA = 0 ...................The minimum pip movement of the body of the candle that crosses the ShortMA
MaxCandlesforResult = 0 ............Maximum number of candles before trade is closed regardless
LongMA = 200 ..........................Long Exponential Moving Average
RSICalcPeriods = 8 ....................Number of periods for RSI calculation
TopRSILevel = 70 ......................The top level that triggers RSI move from upper level signal
BottomRSILevel = 30 .................The bottom level that triggers RSI move from bottom level signal
ATRLookback = 5 ......................The number of periods looked back to determine Average Trading Range
MinATRPips = 5 .........................The Average Trading Range requirement as a minimum value in pips
PresetStopLoss = 0 ....................If left at 0 Stop Loss is automatically calculated from Low (High for short trades) of the candle on the opposite side of the Short MA
StopWin = 5 .............................Trades will be closed with this net pip gain.
TradingHoursStart = 0 ...............The start hour for trading (MT4 time not local time) - use 0 for 24 hour trading
TradingHoursEnd = 0 .................The end hour for opening of trades - nb. trades will be closed after this hour
NewsHour1 = 0
NewsMinute1 = 0
NewsHour2 = 0 .........................3 news trading times to be avoided can be input. Specify the hour and minute of the release. Leave at 0 if not required
NewsMinute2 = 0
NewsHour3 = 0
NewsMinute3 = 0
AvoidMinutesBeforeNews = 10 ....Common to the 3 news avoid periods
AvoidMinutesAfterNews = 30
Message = "Magic 5 Pips" ..........This comment plus the current pair will be added to the trade request. (this column in MT4 trades and history is hidden by default)
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Here was my day today. Did very well thanks to a $50 rally I hit way before I expected it too. It was still padding my position and it took off lol!
WOW! Dave, thanks for all your hard work and speed of reaction. Awesome.
Thank you Dave!!

Quoting Dave_C
At the suggestion of tk5, I have now added an extra input parameter to give the option of trades, alerts or both Trade0Alert1Both2 = 0 for trades only Trade0Alert1Both2 = 1 for alerts only Trade0Alert1Both2 = 2 for both trades and alerts At the Message Box prompt in the case of Trade0Alert1Both2 = 2, if the "Cancel" button is pressed, no trade is executed. Feedback appreciated! {file}
Every Trade Is My First Trade
first (manual) trade a loser.

Attached Image
Quoting shoot2scoot
first (manual) trade a loser. {image}
Shoot2scoot this was a loser because it was not within the OP rules.

An entry (unless it is me that's misunderstood and no doubt TK5 or someone else will correct me) is created when the body of the HA candle closes below the 5 EMA and the body of the next HA opens at the same side.

If you think about it, taking a trade as you have done here, based on where your market price bars have closed/opened basically ignores the HA and you are trading on naked bars only.
Getting there, slowly but surely...
Hi all, I'm new to your thread, and it looks very interesting.
How/Where can I get your 5 Pips Sytem EA? Can't seem to find it
We don't see things as they are; we see things as we are.
Look 7 posts up
Loser for me this AM too, looks to me like it was within the OP rules unless anyone else can point out something I've missed. The only thing I can think of that should have kept me out of this trade is an old phrase I heard on here called a 'Frankie fakeout' where the price appears to set off on the European open, only to stall and reverse in London.

This particularly effects the European currencies and I should probably avoid signals on those until after the LO.

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Getting there, slowly but surely...
Quoting Edlich
Loser for me this AM too, looks to me like it was within the OP rules unless anyone else can point out something I've missed. The only thing I can think of that should have kept me out of this trade is an old phrase I heard on here called a 'Frankie fakeout' where the price appears to set off on the European open, only to stall and reverse in London. This particularly effects the European currencies and I should probably avoid signals on those until after the LO. {image}
If I can point this out from my perspective, you entered a long trade without regard to the RSI coming from a low signal.
Quoting Dave_C
{quote} If I can point this out from my perspective, you entered a long trade without regard to the RSI coming from a low signal.
Dave, I think he entered a short not long!
Edlich,
Your entry was good with price under 200Ma and RSI coming from 70 area only that you should have entered on the beginning of the second red candle. Don't enter on the 3rd candle because most of the times you are already late.
On more thing to point out is that price was consolidating, tiny range so you should have avoided this signal.

Cheers
You are quite right. I should have enlarged the chart!
Quoting gigicualex
{quote} Dave, I think he entered a short not long! Edlich, Your entry was good with price under 200Ma and RSI coming from 70 area only that you should have entered on the beginning of the second red candle. Don't enter on the 3rd candle because most of the times you are already late. On more thing to point out is that price was consolidating, tiny range so you should have avoided this signal. Cheers
I think I recall TK5 suggesting we should avoid signal candles where the HA body is touching the 5EMA and that more reliable entries were when there was daylight between the HA body and the MA.

On my platform the body is definitely touching, so i waited for the gap to appear on the next candle. I have noticed however that entering as you suggest, gives a better chance of hitting TP, so is something I will look into in more detail.

cheers
Getting there, slowly but surely...
Preparing for the 1st trade of today.
Watching GU for a short opportunity, need a clear rejection of 200MA.
RSI already overbought, we've also got a bearish divergence.
I'd like to see a nice 15M red HA closing under 5MA and if possible without top wick
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Quoting Edlich
{quote} I think I recall TK5 suggesting we should avoid signal candles where the HA body is touching the 5EMA and that more reliable entries were when there was daylight between the HA body and the MA. On my platform the body is definitely touching, so i waited for the gap to appear on the next candle. I have noticed however that entering as you suggest, gives a better chance of hitting TP, so is something I will look into in more detail. cheers
you could see clearly it's a narrow market. hangover from yesterday's movements. hence, humankind awaits NFP news today, thus, wont move much.
always draw trendlines
3rd trade using this method. 2 winners yesterday and one today. Here is todays
I am loving this. I am looking for just 2 trades a day. Nearly there for the second day running.
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Quoting Edlich
{quote} Shoot2scoot this was a loser because it was not within the OP rules. An entry (unless it is me that's misunderstood and no doubt TK5 or someone else will correct me) is created when the body of the HA candle closes below the 5 EMA and the body of the next HA opens at the same side. If you think about it, taking a trade as you have done here, based on where your market price bars have closed/opened basically ignores the HA and you are trading on naked bars only.
Good point, explains a lot.
Quoting shoot2scoot
{quote} Good point, explains a lot.
Hi Shoot.
Also for me if you zoom out and look at the bigger picture the price has just broken out of consolidation area and also just broken a down ward trend line. Both of these things will then become support. So in my opinion and I am no expert you are trading back into these support levels. I know we are only looking for 5 pips but it makes the odds better in our favour if we are going long off of support and short away from resistance.
Hope you dont mind me offering my novice opinion
H
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