My "Ultron" EA for GBPUSD H1 timeframe

"..fool you into thinking that I've made my EA 10x better" -- what are you talking about?

The lot size does not affect the statistics -- or, at least shouldn't. However, many brokers do limit the maximum lot you can trade when opening a new position.

I just now noticed your text signature is "Will code in MT5 for free.. EAs only, can't be f*cked with Indicators" -- hmmm...

Sorry I got involved with this thread -- Adios...

i put ULTRON.ex4 in incators and ULTRON.mp4 in experts? is ths right?

thanks

Both are same. You can just use ex4

Please don't be deterred by negative comments. Your contribution is important.

sl/tp 30 / ema

Thanks Pawel for sharing and to Robots for the upgrade, will give it a whirl on demo next week, hopefully it will bring in some greenies!

2018 to Date:

Pretty good.


Cheers

This is an interesting EA and it back-tests well -- however, a couple of points to be aware of:

1. The strategy only opens orders. The way that orders eventually get closed is via SL or TP. And this is fine -- however, it means that orders can and will be open for long periods of time. Use the 'visual mode' of MT4's strategy tester and you will see what I mean.

2. The reason why a lot size of '10' is a big mistake is related to point (1) above. Since trades are closed via SL (or TP) that means that first SL will be huge and blow-up the account -- unless you've set the 'Initial Deposit' in the back testing account to $1,000,000. But don't do that -- keep it reasonable, like under $10,000. That is, with an initial deposit of $10,000 and using a lot size of '10' the account will blow-up on the first SL. That is why you should use a smaller lot size -- e.g. 0.1 or 0.01. And that is one of the changes I made in the modified EA I posted earlier.

Make it % based risk and everything will be fine

Agree.

Regards.

ADJUSTED FOR BROKER GMT OFFSET:

Better results.

Cheers.

Excellent idea.

Hi,
Could any one know how to set up adjust broker GMT OFFSET. Please give me detail ,I'm not know how to do its. My local GMT-5 (Central time)
I appreciate for it detail.

Thank

Of course, nobody will allow such big positions but here is a version with lot value that is flexible and changes according to the account size.
By default, it's for account 10000usd but it's changeable by the user.

+1

Hi,

Just wanted to say thanks for sharing this promising EA.

GREAT work thus far!!!!

Risk based approach seems interesting, also it should be easy to automate within the EA the broker GMT offset time by checking broker server time and adjust accordingly.

My results on back test mirror what the you guys are getting so that is awesome.

Will be following along closely.

Ok, I admit this shows me to be very inexperienced, but this whole BROKER TIME thing confuses me. Right now I am using TRADERS WAY. I am in the US, Central Time Zone, same as Chicago.

It appears as though my time zone (US, CST) is 6 hours behind GMT. Meaning, right now it is 3:45 PM November 4 and GMT is 9:45 PM November 4. So, that being the case, what should the settings be on the EA. Right now it say Hour 1 =6 and Hour 2=21. What, exactly, does that mean?

Do I have to change it?

Thanks.

@marc82 = " EA is active in day hours (at least in Europe, so make sure that you use timezone the same as for example Tickmill broker). " = post 1

Me too -- though, perhaps I can shed some light.

Most brokers's servers are set up for GMT+0 or GMT+2. From Googling I can see that Tickmill (@Pawel's broker) uses GMT+2. The chances are your broker also uses GMT+2 -- so, there is nothing you need to do.

If your broker uses GMT+0 (which is two hours behind GMT+2) then you could increment the 'hour1' and 'hour2' parameters by 2 hours. However, in my hands, these parameters don't make much difference.

The bar data (i.e. OHLC data) arrives from your broker with their server's timestamps. Your local time has nothing to do with it. Your local time only comes into play when manually trading -- e.g. suppose you decide that you favor market conditions when the London banks are open. The UK is currently 6 hours ahead of Central time. So, if you want to trade 8a-2p London time then you'll need to wake up early and trade 2a-8a your time.

When using EAs you don't need to worry about this since most brokers use GMT+2 and your EA doesn't need to sleep.

One last point -- this has to do when trading MANUALLY using the H4 time frame. When trading H4 the GMT+0 and GMT+2 bars arrive at your PC at different local times -- again, GMT+0 is 2 hours behind. This could have a big affect on your trading because GMT+0 bars could be missing some important market events. This is only a problem with H4.

Great idea! Thanks fo sharing!