MACD Simple Cross System

EXACTLY!
That's what we want the EA to catch.

And if you entered and held until stoch32 crossed above 50, you would STILL be short on all of them, for about 550 pips unrealized profit!

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Disliked

10 pips per day or truckload--you decide.

Some of the systems I see on ForexFactory trade ONLY the H4 chart. GBPJPY had no entries on that chart today for any of the methods that I am familiar with. But the little m5 chart, traded with a good plan, well, see for yourself.

Have you heard this, or something like it before?
"Small charts, especially any below H1, are just a bunch of noise; untradable; can't get enough pips on atrade to be worthwhile."

Look for yourself. Over 500 pips, m5!! How much drawdown do you see? How "noisy" does it look to you?

Mostly it isn't quite that simple

or this beauty: stopped out and then wham

or what to do now - do you go short here?

Look at how noisy and UNPROFITABLE this one is!

Oh, wait that is an H4 chart! CANNOT BE! Noise and untradable is only below H1!

If my trading plan says to go short there, yes, I go short there. However, my trading plan does not look at a single chart in isolation! So, I cannot say what I PERSONALLY would do, because there is not enough information available.

However, based ONLY on the chart presented, yes, I would short there because I have no EVIDENCE that the down move is over. However, immediately after that last pullback was completed by the stoch crossing up, I would see a HIGHER BOTTOM and immediately exit.

I don't see this as noisy; I see clear signals! And as far as being stopped out--GREAT EXIT! Pips in the bank. You can jump back in on your WHAM, because the stochs, etc. show buy signal!

Be careful what you look for--you probably will find it!

It was more of a rhetorical question: it just goes to show that there are many instances (i. e. news, round numbers, New York open etc) that can undermine your best plan.

H1 is - sort of turning upwards - which could be a sign that caution is the best strategy for now.
Would have been stopped out - again - anyway, and yet - after that it tried another leap downwards, albeit short-lived, I guess

H1 turning upwards is essentially irrelevant. Both the stoch32 and stoch8 are below 20. That is too far from 50 to care about any serious up action.

You are looking at the wrong chart...The rally never made it to H1, and it's a single candle blip on m30!

The m5 "should" rally and come back down now. How far down? We have to wait and see. When trying to cycle the trend changes up through the charts, the long-term down trend tends to keep a lot of people with a sell bias. plus the "big boys" can purposely drive price up to a "convenient" (for them) level so that they can have buyers for the shorts that they need to make, dropping things back into the full down trend.

Is that a rally that I see? And already 2 closed down candles after it. Must have been ANOTHER lucky guess!

The charts are speaking to you! Do you know their language?

you were right, another move down - chapeau

have a look at the direction of Stoch32 - that gives it away - maybe you want to keep that in mind for your EA

Thanks for the observation, but we already know that. Stoch32 on H1 is the stoch8 on H4. Stoch8 shows price direction on the chart.

Not really. This gives it away--the leg 2 pullback failed, shouting sell!

The indicators are speaking to you. Do you know their language?

Hello everybody, how is everybody doing?

I'm sorry I'm not that active because life is busy. You guys have been posting great comments, ideas and information. I don't think I can comment on all of them, but I'm going to comment on what I can comment on.

First, Josi mentioned the idea of using a different magic number for each pair to be able to forward-test the EA on different currency pairs, or the ability to have an mq4 file for other user to edit the code and improve on it. As DrDave mentioned, the first EA was an EA that I paid someone to create for me and share the code with me. I paid him not because I thought the EA was going to make me money, but because I am trying to learn how to code, so I wanted it to be a reference for me and something I can learn from. The guy who wrote the code agreed to that only if I promised not to share his code, so that's why I only share ex4 files. I'm sorry for that but it's a promise I gave and after all, it's his work. Now, it's true that I wrote the other two EAs, but I was basically just copying and pasting lines from the original one and change stuff where change is needed. That's number one.

Number two, I personally think, and I think DrDave might agree with me here, that forward-testing is not what we're interested in right now. Why? Because in order to see if a strategy works, we need to test it over a long period of time. So, if we say we'll test it on five years worth of data and we decide to do that in forward-testing, we're going to need five years to do that! But, if we say we're going to test it on a five years worth of data and do back-testing, it could probably take a few months. Even better? We can create an EA that can do that in a single day. We can watch it as it works and make some adjustments. So, I personally prefer back-testing first. When the strategy proves that it has worked and performed well over the past 10 or five years, then forward-testing comes into play and we will go ahead and do that for sure, I will never go live with it unless I've done forward-testing.

For example, you mentioned the magic number, how about if I told you I have an idea in my mind that the EA itself can generate different magic numbers depending on its serial number, the currency pair, the chart TF, and any other variables we add? So it generates different magic numbers automatically to control different pairs and regain control over them if you turn your computer on and off. Is it worth it to spend hours and hours now to write it into an EA that we're going to use to test the strategy and see if it works or not? For me, it's not. Is it worth it if the strategy proves it's a good one and has a higher probability in the market going forward and proved itself? Hell yes! So, right now, as I mentioned in an earlier post, I'm creating "stupid" EAs just for the sake of back-testing, and none of them was claimed to be profitable in any way, shape, or form. They are there just so we can run tests, not to trade with them. Will there be any EA that we will use to trade with? If we find the strategy for it, we will do what it takes to create an EA and share it here to trade with it.

DrDave, you need to leave some pips for us to harvest! LOL

It seems that you are having good results! Congratulations on that.

As you know, I created the Stochastic EA based on the first simple set of rules you shared with us. There's an issue that I'm facing here when I start working on the EAs, I see too many updates and too many charts that it confuses me and I get lost. Now I'm not saying please don't post anything, no, please do, because it's so informative and so great to see those discussions going on and those charts and examples, so please, keep it up. But I have a small suggestion and I hope you agree with that, since we saw that the first version is not performing well, and there has to be some changes, and you guys have done a great job in giving suggestions and providing comments, you and Josi, you guys were great, but how about you create a post and label it with: "Rules for version 2" and you put the gist of the rules in that single post that I need to know to create version 2? If you prefer, you can even PM them to me, and when we post the EA, we post the rules to explain how it works. This way, I know what the most up to date rules are, I know exactly what they are, and I can create the EA without being lost. I don't know if this might seems a little too much to ask, but honestly as I was planning my time for next week, I was thinking of getting some time to work on V2, but I really don't know what to change now, there are so many ideas have been discussed here, great ideas, so I, myself, don't understand the updated system now, imagine if I'm trying to let a computer understand it! LOL... I think my next code will be:

if(I understand the system)
{
I'll let you know;
I'll create version two;
}
else
{
Let me take a nap right now;
} LOL.

By the way, I'm really interested in the system you are using to trade everyday, I wish one day we can make an agreement where you can mentor me on how to trade using it step by step. If that's on the table, please let me know.

One more thing that you mentioned, the EMA(5) of the ATR(N). As I mentioned to you earlier, I was having some troubles in using non-native indicators and custom indicators. I've been playing around with the iCustom function and I got it figured out to use a custom or non-native indicators, that's why I can include the Hull Moving Average that you shared with us, the HA candles values, I think I can even include the FXCorrelation Indicator, but again, my issue remains not being able to apply an indicator on another indicator in the EA, so feel free to include non-native indicators or custom indicators in the next version, but not indicator-on-indicator because I still don't know how to do that. You can even include multiple vales from different time frames, that's not a problem. All you need to do is post the set of rules in a post, or send them to me in a private message, whatever you prefer, and I will get working on it.

Enjoy your weekend everybody!

These are - and have been - my suggestions. Improvements, decisions etc have to be made by DrDave and yourself, of course

entries;
[Magic number] in brackets to show you I read your posts!
trade mode (long/short/long&short)
lot size (in pips)
use money management: yes/no
money managment: percent of account
Stop-Loss (in pips)
Use Trailing-Stop: yes/no
Trailing-Stop (in pips)
Use Take-Profit: yes/no
Take-Profit (in pips)

Stoch1 (slower) entries:
- %K
- %D
- slowing
- MA: SMA, EMA, SMMA, LWMA
- candles (open, close, high, low, median)

Stoch2 (faster) entries:
- %K
- %D
- slowing
- MA: SMA, EMA, SMMA, LWMA
- candles (open, close, high, low, median)

1. if Stoch1-signal line < 50 and falling && Stoch2-line crosses Stoch2-signal line downwards: sell

2. if Stoch1-signal line > 50 and rising & Stoch2-line crosses Stoch2-signal line upwards: buy

3. exit trade: when either of the following (if selected; see: entries) happens;
a) when Stop-Loss is hit
b) when Trailing-Stop is hit
c) when Take-Profit is hit
[as you seem to like automation - see: Magic Number - all three components could, i. e., be linked to xATR and that would adjust for volatility]

That is not correct. I don't need to make any decisions about what goes into the EA. I will make some suggestions to try some things, but this has been a community EA from the start, not my pet project.

Well, as I said: it's only a practical SUGGESTION what version 2.0 could be like ...
But, alas, someone at some stage will have to make a decision what to do about this SUGGESTION - otherwise there will be no version 2.0
Have a nice weekend