Magic 5 - five pips only

Quoting gigicualex

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First trade on today a long UC. Price broke the consolidation area marked by the grey rectangle with the set-up candle. I entered on the 2nd green HA candle, which had all body above 5MA. Not happy with the RSI, but noticing the temp bullish momentum I took the trade anyway. 5p TP hit in a matter of seconds. TK5, I got a question for you if I may. The below pic contains also my 5MA settings. Wondering which option from the 'Apply To' drop down menu you use. Thanks {image}

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Quoting stanvy

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hello Dave, thanks for providing this great ea, one question though, do you know why after i install the ea and waited for 4 hours but it doesn't trigger any trade? i try' to change tradealert from 0 to 2 but it doesnt work as well, i had enable auto trading, etc appreciate your help here {image}

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Quoting stanvy

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hello Dave, thanks for providing this great ea, one question though, do you know why after i install the ea and waited for 4 hours but it doesn't trigger any trade? i try' to change tradealert from 0 to 2 but it doesnt work as well, i had enable auto trading, etc appreciate your help here {image}

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Quoting Edlich

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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}

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Quoting Nico1359

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{quote} This exact trade, to me, exemplifies why an EA may not work so well for this. There are "gray area" considerations that the human brain must consider before taking a trade. I've lost on this exact setup before, and what I've done since is implement a "trend rule" -- if the market has just made a series of higher highs and higher lows, I won't take a short even if the other conditions are met. The same goes for lower lows and lower highs on potential long trades. Don't do it. Also, I tend to avoid trading when price is getting near the 200....

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Quoting Dave_C

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{quote} On looking at that chart, my feeling is that from a purely technical point of view, I would agree with you and I will talk to tk5 with a view to implementing some code within the EA to avoid such trades. The Average Trading Range is also low and this may be a factor to be considered. With the optimization I ran above, this trade would have been filtered out because of the ATR. I believe tk5 mentions ATR in an earlier post and thats why I added it into the EA.

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Quoting Edlich

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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}

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Quoting gigicualex

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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 {image}

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Quoting SeaTheStars

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Great strategy ( i don´t call it system because you still have to use your own judgement a lot). I traded it now for 3 weeks. Been a very nice income. Even though Op does not want this in his thread, but: I exit differently. Put SL at recent high/low of HA wick. And close trade when either RSI hit extreme zone (30 on short positions, 70 on long positions) or RSI PL (of the TDI indicator) hit extreme zone of 32/69), whichever happens first. Managed to get 8.44 times the amount of pips compared to exit with only the TP of 5 pips. You´ll get stopped...

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Quoting jops

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{quote} SeaThe Stars can you please tell me the meaning of OP, regularly reading for months FF but dont know why up till now have not come across such meaning. Thanks in advance.

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Quoting Dave_C

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{quote} I'm sorry to those who have had problems with the latest EA The problem was in these 2 lines if (Trade0Alert1Both2 == 1 || Trade0Alert1Both2 == 2) CheckForModify(); if (Trade0Alert1Both2 == 1 || Trade0Alert1Both2 == 2) CheckForClose(); I have amended them to if (Trade0Alert1Both2 == 0 || Trade0Alert1Both2 == 2) CheckForModify(); if (Trade0Alert1Both2 == 0 || Trade0Alert1Both2 == 2) CheckForClose(); in other words check for trade modify and close only when trading is enabled not when in alert mode. With a quick look at optimizing the EURUSD...

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Quoting Dave_C

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The EA is compatible with 5 digit brokers. StopWin of 70 of a Buy Order means an increase 70 pips ie. Buy at 1.2300 Take Profit at 1.2370 Your $ profit is dependant on number of lots.

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Quoting marshalmax

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{quote} OP = Original Post or Original Poster

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Quoting stanvy

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{quote} Thanks Dave, should i change atr = 50 as below? ATRLookback = 50 MinATRPips = 50

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