Need help here to demystify this EA

hi there, came in to place this rules of trading while I am learning.

Rule number 1
Do not play before London open, volume too low and the Dumb money is playing.

Rule number 2
If there is a demand/support or supply/resistance trendline break from the first candle wait until it close and went in only if the 2nd candle continues its trend from the 1st candle otherwise get ready to be fakeout. Please confirm it with MACD/Stoch crossover (always get fake out). Also if the market is slow and there is a trendline break wait at least for the 3rd candle to stay its due course before plunging in or else you are the dump money

Rule number 3
If price breaks a trendline and it stalls crank down to 5min and see why? Most of the time it is a fakeout. Grab your profits or cut your losses.

Rule number 4
Grab pips on retracement only if the big trend is with the reversal otherwise grab a few pips and bail out cause it will not retrace much before it is being push back by the big trend.

Rule number 5
Let your profit run while cut your losses, bag your profits fast and leave the rest for others. Get in and out on the same day. Don't be greedy

Rule number 6
Plan you trade and trade your plan. If you had plan your trade prior to London open, follow it till it hit your stop loss. Do not be affected by PA. You are the smart money everything else are the dumb money unless it hit your stop loss then you are the muddle one.

Rule number 7
Make your trading bias way before London open. Just look at price action couple by MACD status of overbought or oversold. It will roughly tell you whether it will be a price continuous pattern or price reversal pattern.

Rule number 8
If MACD crosses over much early before a trendline break. Usually the run would be premature and exhausted. If the break is obvious don't take it supply/demand breakout are mostly unexpected. Buy/sell only when Stoch is oversold/overbought even if there is a candle reversal pattern

Rule number 9
Always buy when Stoch is oversold and sell when Stoch is overbought this way you are buying value at a cheap price. If the big charts tell you the trend is up/down crank down to the 5min chart to buy/sell when Stoch is oversold/overbought this way you get better value in price

Rule number 10
For price action alone to where price will go look down from the 4hr chart see where MACD is going then crank down to anytime frame which has a a nice uptrend channel or downtrend channel and estimate where price will go. If price action is messy in one of the timeframe change and find another time frame which has a better channel/clear price action pattern.

Ok here is the intro
I come across this system using TD trendline and Eng Waddah EA assuming that daily pips range for EURUSD is 74 pips. I guessing trendline breakouts are the most reliable. So I try my luck on this EA using TD trendline as support and resistance. Suprising for the last week of April from 1st of April to 7 of April I had an equity of 161% over 1 week.

I need the help of seniors here to arrange the order pip space to determine the ideal gap for a breakout so that false breakout won't get the order. And also as you notice in the TD indicator there is an estimated profit taking line which the TD indicator shows however in the EA the profit taking is predefined. So would any programmers out there can tweak the EA to to profit taking to the defined TD profit line?

I know it is too soon to be defined as a good EA however I have yet managed to do backtesting for 1 year as it needed to be visually aided inorder for the EA to define the support and resistance line. So guy pls bear with me.

David

hi,

This TD indicator is more reliable with estimated end of breakout line. Also this work great with EURUSD then USDJPY. However it would be better if you guys could extend out to other currencies which are more trending. Will submit my report for Jan 07 to Mar 07

Hi there,

It is me again. Being impatience this is the result for Mar 07 backtesting. Looks promising.

ok it not that ideal once you place the sell stop function in it as well. O well back to manual trading then.

I think this is a good system. Except that you need to manually exit the order automatically executed by the EA based on the following confluence of events like Stoch crossover and MACD crossover with strong indication if they are at overbought or oversold and histogram above or below 0 line.

I think TD trendline break are somewhat reliable as the indicator as projected profit taking line which I am unable to change in the EA to take in the trendline then int.

So guys out there who can help me change the program for profit taking instead of predefined integer to trendline drawn for projected TP?

Anyone can help?

David
ps the result is based on one week from april 2nd to the NFP fri

Hi there,

It is me David again. Today just bank 20 pips on the USDJPY trendline break with the Stoch and MACD confirm. Also today I need your seniors here to recommend an indicator that works just as well as Force Index which roughly tells me the end of a rally or a dip after a trendline break. Any guys out there can help me design the EA that I require?

Does anyone here knows how to use Force Index or what number should I put like Exponetial or smooth close?

David
Anyone?

Hi there,

It is me David again. Bang another 20pips on a trendline break. At first hesitant as there is no Stoch or MACD cross over but Force Index doesn't peak out so no reversal sign from the public get in on the trade and grab my 20pips. But then Force Index did a spike out and then a spinning top reversal pattern appear so and to bail out.

Guys anyone out there can help me on this EA???

Lame USDJPY and EURUSD did not peak out they cont to rise and drop and Force Index went back straight might be able to bag another 20 pips and the TD indicator estimate it might bag for 70pips after it break the trendline. Any guys having luck on helping me on this EA?

How about this creating and EA to trade only at certain time of the day 4x a day???

Like Maybe New York Close? Tokyo session or Singapore Session or London Open then London Close then New York Open?


Anyone?

Today just tested the month of March 08 for this EA but this time I only allow it to place order when it break the resistance or demand TD trendline. My initial capital was $200 and after end of march i have over 150% of equity $576.29

I intend to demo trade this EA for April and May before going live on June. But the currency pair must be a strong uptrend or downtrend. USDJPY not suitable yet but EURUSD and EURGBP are good as currently US market is down and EUR side not cutting rates and GBP doesn't look good from where I stand. But of cos I urge someone out there to help me on a multiple trade hours like maybe between 12am EST to 1amEST and 4amEST to 7amEST prior to London open and maybe 8am to 9am EST prior to New York open and London close. Tokyo session I have not tried yet but I will Tues from Singapore.

Pls help??

Hi there,

For the month of April EURUSD has show sign of weakness. That is why the EA don't work 3 2 weeks ago. However to make full use of this EA one must learn to identify trendline and MACD divergence to identify the trend for the day inorder for this EA to work the best. Also if one could alter the potential profit taking for the TD trendline indicator I bet the profit percentage is more higher. I am only to manage to alter the EA to work within the predefine timing.

Any helperS?

Hi there,

Today EA just took order on the support trendline break. MACD and Stoch overbought, historgram show strength below 0 and Force Index below 0. Estimated take profit at 100.85. Lets see whether this is a boom or a bust.

Today is M2/M4 day PA is at sell area lets see whether it will cross the pivot line and hit M2 before London open

Hi there,

The USDJPY order I bail out as it PA moves too slow however I manage to bag 10 pips of EURUSD and USDCHF due to supple and demand trendline break. Both Force Index does not show spike and dips. Not very nice pips but it reconfirms my theory. Hopefully I become more experience in recognizing end of trend.

Entry I use the 15m chart to alert me then drop down to 5m chart for better entry and to confirm both Stoch or MACD not overbought or oversold then enter. Sometimes I get it sometimes I get whipsawed. Then for exit I use the 5min chart to check if the Force Index has any spike or dips confirm by Stoch overbought or oversold. MACD sometimes not crossover and divergence.

Hi there as mention in the previous post both EURUSD and USDCHF 5m chart show some hammer and doji. And there is a slight spike on the EURUSD maybe trend will cont not for me to find out but USDCHF is dip out see the Force Index?

Any guys out there can comment or help me on this EA???

Hi there,

This post is just for me to remind myself that I could scalp a few pips on reversal as well. After EURUSD lose steam there is a spinning top should place 3 pips below the spinning top candle to catch the reversal. Anyone here can teach me how to use the Fibo to catch the retracement?

Hi there,

This post is for me if there is a reversal candle like doji or spinning top effective after a run drop down to 5m chart to look for trendline break to catch another 15pips just like the EURUSD Reversal after a run and then reversal again after a bear run could have drop down to 5min chart to look for resistance break.

Woah I have no idea what is going on maybe impact of GBP and EUR combine having the time of my life. As mention whenever a trend reversal is likely to form look out for the Force Index for a opposite reaction for the bull and the bears. Look at the chart and see the big dip in the Force Index when EUR drops fast and hard. I'm not saying Force Index is a reversal indicator I'm just saying you have to match with other indicators to insist your theory that price won't stay at that position too long. Normally I will wait for a spinning top or doji to form on the next candle. But since i got whipsaw previously trying to recoup my losses back on this.

I did not bag the USDCHF. Too fast but there is a big spike telling us that a reversal is happening soon. Drop down to small chart for good entry with limited risk

hi there,

Another Force Index at work here plus resistance trendline break for the USDJPY and this time I am prepare to bag the USDCHF as well as the EURUSD on the support trendline break. After that bag another 10 pips off the retracement before going for break.

Notice the spike on the EURUSD 5min chart and the USDJPY and USDCHF dips. All signal you to jump in and ride the reversal wave. And I think this is after 8.45am EST.

Yesterday 15 April before London close spotted a trendline break to the downside made the order but PA moves too slow so had to bail out at a lost. Then notice that MACD was still above the waterline or 0 so gamble and buy long at 101.27 place a TP at 101.47. Why? You see after I read on Fibo provided by a thread here I tot give it a try.

Notice the price mingle around 61.8 went down to 5min chart and notice 4 bottoms seriously something got to give so I went long but was not greedy enough. Actually PA gives me a few signal together with Peter Bain m points. Stoch at neutral so no downside from bears, MACD still above waterline not really at overbought and Force Index show positive divergence to Price. Notice the orange 50EMA and 200EMA I was told that that is a golden cross which means an uptrend is in place. And most importantly it was a M2/M4 day so M2 has been reach before London open so the next PA might target is M4 and indeed it has after London close there is a total of 62pips to be won here.

Funny it seems chart seems so clear after so much chaos and movement. I can honestly tell you my equity has no change and even though I show you this EA it is quite an educational awakening for me.

But I still need help on the EA with requirements on my first post.