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Attachments: 4 Hour Entry Signal
Exit Attachments

4 Hour Entry Signal

Quoting mankindeg
{quote} Weird... I downloaded the EA, but I can't attach it to a chart? Are you sure this is the correct one?
This is the direct link. Even from the "oficial" site...
https://www.dropbox.com/s/534xq4b0pz....6.09.mq4?dl=1

It is the MQL4 source code which is compiled when starting the MT4.

Maybe this EA is a little overloaded with features and options. The trading system of this thread is quite "simple" when looking at the indicators and their settings. I was already thinking of taking the "Blessing EA" and deleting indicators and some features.
Xmas holiday is coming, I hope my family will not kill me when I am at the computer day and night ;-)
I would like to discuss if-then conditions for Entry and Exit. Basically we have the bollinger bands and the MA. When the MA is close to the upper/lower bollinger band is an indicator for buy/sell entry. If it moves away, it is an exit signal.
Now the question is, how close should the MA be to the bands? In percentage? In pips?
Any other indicator for a logical AND?
Quoting Spyfx
{quote} yes also want know more about entry and exit rules can you explain ?
The rules are explained in post one of this thread ;-)
The challenge now is to bring these rules into an mq4 code. I am currently pimping the Blessing-EA. I used the Bollinger Bands part and separated the MA to be able to have different settings for periods:

Inserted Code
//+----------------------------------------------------------------+
    //| T4 Indicator for Order Entry                       |
    //+----------------------------------------------------------------+
    if(T4Entry>0&&CbT==0&&CpT<2)
    {    double T4ma=iMA(Symbol(),0,T4MAperiod,0,T4MAmethod ,PRICE_OPEN,0);
        double T4stddev=iStdDev(Symbol(),0,T4BBperiod,0,MODE_SMA,PRICE_OPEN,0);
        double T4bup=T4ma+(T4BBdeviations*T4stddev);
        double T4bdn=T4ma-(T4BBdeviations*T4stddev);
        double T4bux=T4bup+BollDistance;
        double T4bdx=T4bdn-BollDistance;

Backtests look very good until now on GBPJPY and GBPNZD. As expected not too many trades open, but those which open are quite safe.
Here comes a screenshot of a backtest for the last two years. I know that this does not need to mean much for the future, but the better the backtest, the greater the chance... what I like is, that not too many trades are taken. Looks like the EA decides carefully.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 22 KB
I have a couple of regrets with this thread:
1. I wish I started it in a couple months from now when I have more time to spend on it
2. I wish I had only used the Ichi MA system (posts 25-26) instead of the Entry Signal. It is a simpler system, and I believe it is much more adaptable for an EA. Please take a look at this system as an EA as well.

With the Entry Signal system entries are not set in stone. Sometimes I'll enter as soon as the MA starts to move away from a band, and other times I'll wait. Is price overbought/oversold? If it's overbought I'm not going to enter a long trade because Price moves further away from the lower band. And I'll sometimes look at price action - support/resistance, candlestick patterns.

With the IchiMa, it's pretty much cut and dry. When the Ichi moves above the MA, and price is below both the Ichi and the MA, then go short. The opposite for a long. You can use the other indicators, and price action with it, but it's not as necessary because the entry point is more easily determined.

My SL is usually the previous H/L plus spread or 50 pips plus spread - whichever is less. I find that in most instances a SL of more than 50 pips is not necessary. As for the TP, I look for a minimum of 50 pips but there isn't a number that I use consistently. If I am around the computer I'll use alerts and reassess the trade as it reaches certain levels. The only time I have a definitive TP is when I'm going to sleep.
Defeat is temporary, but giving up is permanent.
Quoting ursinho4711
Here comes a screenshot of a backtest for the last two years. I know that this does not need to mean much for the future, but the better the backtest, the greater the chance... what I like is, that not too many trades are taken. Looks like the EA decides carefully. {image}

ursinho4711:
Hey, to make the back test somewhat palitable, I recommend u change the spread from 5 to 20 (0.5 pips to 2.0 pips). That will at least let you see if the program can handle a larger spread than it will see under live conditions. If it does then clearly that program is somewhat robust. As you probably already know there are services that provide data that will allow you to adjust commissions and spreads. The wider these are under testing the more than likely the program will operate properly under real live conditions.

Take care, good luck
Jess
Our AWESOME IMAGINATION is the true holy grail!
Quoting oordjb
I have a couple of regrets with this thread
Why? Everything is cool ;-)
The entry idea for trading on Bollinger Bands and MA is a good and well known system, taking into account some other parameters.
Sure there is no holy grail, if there was, people would not spend life time in the forum...

I will try to implement your IchiMA idea into an EA. Good that it is christmas: much time for coding and testing.

Feliz natal pra todos!
interesting system

  • Post #49
  • Quote
  • Last Post: Oct 7, 2020 3:09pm Oct 7, 2020 3:09pm
Quoting ursinho4711
{quote} This is the direct link. Even from the "oficial" site... https://www.dropbox.com/s/534xq4b0pz....6.09.mq4?dl=1 It is the MQL4 source code which is compiled when starting the MT4. Maybe this EA is a little overloaded with features and options. The trading system of this thread is quite "simple" when looking at the indicators and their settings. I was already thinking of taking the "Blessing EA" and deleting indicators and some features. Xmas holiday is coming, I hope my family will not kill me when I am at...
It's an old mq4, which should be compiled with the old editor. I have done it and attached the compiled ex4.

Hope it helps.
RS
Attached File
File Type: ex4 Blessing 3 v3.9.6.09.ex4   72 KB | 90 downloads
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