The EA was developed jointly by tradeigel and stockwet.
The EA has the following features:
- Automatically opens a new order if criteria is met for a given currency (only one order per currency pair is allowed open at a time.)
- Allows the trader to take ALL crosses, or, only those that also meet the Bollinger Bands median line criteria.
- Trader can specify the number of lots to trade.
- The Stop Loss is automatically set to the preceding bar's high or low value (depending on trade direction.)
- The SL can optionally be set based on BeachBum's ATR method.
- Traders can specify a stop loss "cushion" which would place the initial stop loss above or below the high or low based on the number of pips specified (account for double touches, spreads, whatever.)
- The SL is moved to breakeven when a specified number of pips is reached.
- A trailing stop feature can be enabled. Traders can specify when to activate the trailing stop and the amount to trail by.
- A maximum TP amount can also be specified.
- The EA sets the magic number to 7984 (same as the Fozzy thread id) so that the EA does not impact other trades on the same currency.
- The EA does not hardcode the daily time period, enabling Fozzy to be run or tested on other time periods.
- The EA can send alerts to email when a valid signal occurs.
- Live trading can be disabled in the EA itself.
Future possible features:
- Ability to take partial profit out at a specified target
The latest Fozzy EA will always be posted on this first thread to ensure that it is easy to find. If you have any bugs, questions, suggestions, etc., use this forum. If you have questions about the method itself, refer to the main Fozzy thread in the Discussion forum (see link above.)
**** UPDATES ****
:: 9-29-2006: Changed okToCheck to support trading only on 00 GMT, if the Use_00_GMT variable is set to
true. Otherwise, trades open on new bar.
:: 9-30-2006: Added parameter to specify MA method. Uses EMA by default now.
:: 10-2-2006: Added ability to set SL according to ATR(10) method, as described by BeachBum
:: 10-3-2006: Added feature for taking partial profit out at a specified level. User specifies number of lots to take out.
Currently, this feature only supports a single partial profit takeout. It looks to see if the order lots
is equal to the Lots value. So, the EA can be "tricked" into taking additional partial profit by modifying the
Lots value to equal the current open order lots remaining and resetting the partial profit value.
:: 10-9-2006: Added alert feature when a cross occurs. Also added Trade_Live parameter to turn live trading on and off.
:: 10-17-2006: Bug Fix: TP amount getting set to 0 on B/E and Trailing Stop functions.
:: 10-23-2006: Bug Fix (v2.2): RSI MA values being incorrectly calculated in EA. Added feature to include test information as comments in chart window.
:: 10-24-2006: Incremented EA version. Fozzy 2.1 is old version with incorrect calculations but positive EA results. Fozzy 2.2 includes the calculation fix.