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Simple Monday-Tuesday System (attached calculator)

  • #621
  • Mar 1, 2020 7:20am Mar 1, 2020 7:20am
Quoting bojack34
This info would be FAR MORE VALUABLE than any EA or Script.
The info is valuable. However, I wouldn't say it is more valuable than any EA or script.

An EA or script is for convenience. Anything that can make my job easier is very valuable to me.
Learn from your mistakes and march on.
  • #622
  • Mar 1, 2020 7:33am Mar 1, 2020 7:33am
Quoting here2there
{quote} The info is valuable. However, I wouldn't say it is more valuable than any EA or script. An EA or script is for convenience. Anything that can make my job easier is very valuable to me.
So you're looking for something to make your job easier but not more profitable? I think your priorities are backwards. No offense, im just trying to help.
  • #623
  • Edited 8:05am Mar 1, 2020 7:36am | Edited 8:05am
Quoting bojack34
{quote} So you're looking for something to make your job easier but not more profitable? I think your priorities are backwards. No offense, im just trying to help.
I think you don't understand what I mean. If the EA is set up correctly (with the right rules), it should be more profitable and convenient at the same time.

I have a lot of experience trading. I know what such an EA needs. I already shared my idea on here. And if anyone uses it, they are going to have to make it editable. It's my EA idea, and it should be FREE of limitations, FREE to use, and FREE to edit. I hope people understand this.
Learn from your mistakes and march on.
  • #624
  • Edited 9:14am Mar 1, 2020 7:55am | Edited 9:14am
My EA Idea Updated
(previous version)

Note: You are FREE to create an EA using the following recipe. But please keep in mind that it is my EA recipe. As the copyright owner of this recipe, my rules are simple: any EA created using the following recipe must be FREE to edit, FREE to use, FREE from user restrictions, and may not be used for commercial purposes.

This EA recipe is my contribution to this community.

EA for 2 Day Breakout
Settings:
1. Trigger Lines: EA will automatically draw lines on chart at the high and the low of the previous two days. One line for a Buy order and one line for Sell order. User can limit this by only allowing the EA to do this for a specific set of days, such as Monday and Tuesday, for example. Only one trade will be allowed at a time per currency pair.
2. Market Orders: When a candle hits either one of the Trigger Lines, a market order will be placed and the untouched Trigger Line will be deleted
3. Pips or Percent Above/Below: User may input a pip amount to work in cooperation with the Trigger Lines. For example, if user inputs 25 pips, then a sell trade will only open if a candle hits the 25 pip mark beyond the sell trigger line, and vice versa for buy trades. This may be set in percent rather than pips. If this setting is 0, then it will be disabled.
4. Maximum Allowed Spread: EA will not place trades above the max spread, as specified by user in pips. For example, if it's 5 pips, then only a spread of 5 pips or less will be allowed. Anything above this will be rejected.
5. Stop Loss: may be by pips or a specific price. If it is by price, then an additional option may be enabled for candle body close stop loss.
6. 50% Off: half of trade will close at user's specified pip amount (can be set to true or false)
7. Magic Number
8. Direction:
a. Default - will only follow settings 1 and 2
b. Long - will only execute long trades (trigger line will only be drawn at the high of the previous two days)
c. Short - will only execute short trades (trigger line will only be drawn at the low of the previous two days)
9. Take Profit: will continue to run if set to 0
10. Manual Mode: if set to true, user may manually input price values
11. Break Even (if 0, then break even will be disabled) Note: both Break Even and 50% off must work together if user has both settings enabled.
12. Option to choose currency pairs.

Note: this recipe does not rely on the OP's strategy. It is much more than that! If the OP's strategy ceases to work, my recipe will continue to work, because it is mostly a trade management recipe, based on a breakout/market order trading system.
Learn from your mistakes and march on.
  • #625
  • Mar 1, 2020 8:20am Mar 1, 2020 8:20am
Quoting tes724
Any of the programmers here that can make an indicator for MT5 (not a script), that will: - show the high/low from monday to thuesday, resetting every monday. - Show the SL line 50% of the high/low - show the 1:1, 2:1 and 3:1 ratio lines above and below - Able to set colors on each line Regards
Why mt5
  • #626
  • Edited 8:55am Mar 1, 2020 8:27am | Edited 8:55am
Quoting here2there
My EA Idea Updated (previous version) Note: You are FREE to create an EA using the following idea. But please keep in mind that it is my EA idea. As the copyright owner of this idea, my rules are simple: any EA created using the following idea must be FREE to edit, FREE to use, and FREE of limitations. This EA idea is my contribution to this community. It is not to be sold on the market. EA for Previous 2 Days Settings: 1. Trigger Lines: EA will automatically draw lines...
It's Not yours. The basic system was thought out by the OP. You have merely specified a wish list. It's easy to code so I suggest you learn then you may have some claim for Copyright relates to the work of art, not to concepts or ideas affiliated with the work.
  • #627
  • Edited 9:08am Mar 1, 2020 8:41am | Edited 9:08am
Quoting Spikehunter
{quote} It's Not yours. The basic system was thought out by the OP. Y it have merely specified a wish list. It's easy to code so I suggest you learn then you may have some claim for ownership.
Actually, you are wrong.

The trading strategy belongs to the person who started this thread. I make no claims to owning that.

The rules (recipe) you see on my EA idea, however, is not the trading strategy. It is much more than that!

And yes, I own the EA idea (recipe). I don't own the trading strategy, however. I suggest you learn more about how copyrights work!

If it will make you feel more comfortable, I can change the name of the EA idea to 2 Day Breakout.

And for your information, my EA idea does not rely on the OP's strategy. It can work independently of it. If the OP's strategy stops working, the EA (my recipe) will still continue to be useful.
Learn from your mistakes and march on.
  • #628
  • Mar 1, 2020 8:42am Mar 1, 2020 8:42am
Quoting Spikehunter
{quote} Why mt5
Because i like how MT5 works and the use of multi cores. Easier to load 28 pairs and let it run smooth in MT5. Thats my experience...

And i have alot of payed stuff in MT5, that i cant use in MT4. Like trading dashboard ect.
  • #629
  • Mar 1, 2020 8:44am Mar 1, 2020 8:44am
Quoting redfan
{quote} Thanks for the script and the advice. Sorry if I'm being a nuisance, will this script worked like a pending order, Again sorry for being a nuisance the answer can wait till Monday have a nice weekend.
No nuisance, redfan, there are no worries :-)
The script passes two stop orders waiting for one of the predefined levels to be reached.
This script was coded by Oxff, thanks to him.
  • #630
  • Mar 1, 2020 9:02am Mar 1, 2020 9:02am
Quoting Spikehunter
{quote} It's Not yours. The basic system was thought out by the OP. You have merely specified a wish list. It's easy to code so I suggest you learn then you may have some claim for Copyright relates to the work of art, not to concepts or ideas affiliated with the work.
If your intent is to use my EA recipe to create an EA with user restrictions/limitations, then you do not have my permission to do that.

The OP was generous to share his strategy without imposing user restrictions/limitations. We should be just as generous.

My EA recipe must be FREE to use, FREE to edit, and FREE from user restrictions, and may not be used for commercial purposes.
Learn from your mistakes and march on.
  • #631
  • Mar 1, 2020 9:27am Mar 1, 2020 9:27am
Quoting here2there
{quote} If your intent is to use my EA recipe to create an EA with user restrictions/limitations, then you do not have my permission to do that. The OP was generous to share his strategy without imposing user restrictions/limitations. We should be just as generous. My EA recipe must be FREE to use, FREE to edit, and FREE from user restrictions, and may not be used for commercial purposes.
just pay someone to make it for you on MQL5 or what ever site it is and then you can call it "yours" all you want and do as you please. I can tell you that the way you are coming across you're not going to be able to find someone to code it for you for free. You catch more bees with honey than vinegar. Luckily there are more than one person working on an EA for this strategy and a lot of what you want will be in there.
  • #632
  • Edited 11:07am Mar 1, 2020 9:33am | Edited 11:07am
Quoting bojack34
{quote} just pay someone to make it for you on MQL5 or what ever site it is and then you can call it "yours" all you want and do as you please. I can tell you that the way you are coming across you're not going to be able to find someone to code it for you for free. You catch more bees with honey than vinegar. Luckily there are more than one person working on an EA for this strategy and a lot of what you want will be in there.
You don't understand why my rules are important. I was recently going to hire a member from FF forum to create an EA for me, but his restrictions were unreasonable and even invasive to a certain degree. I don't want to see that happen here.

Actually, I am already communicating with a professional coder regarding my EA recipe. Yes, I am willing to pay to hire someone to create it. And I am willing to allow people to use it freely.

I am not looking for a handout.
Learn from your mistakes and march on.
  • #633
  • Edited 11:13am Mar 1, 2020 9:50am | Edited 11:13am
Well i took my time and learned some MQL 5 my self... With some very little tweeking to the code and some "include" files we can use the script in MT5, just as in MT4.

Quick guide:
- Place the "mq4_mq5_bridge.mqh" file in .../MQL5/Include/" folder
- Place script in ".../MQL5/Scripts/" folder
- Load MT5
- Drag and drop script to chart or add a hotkey (for faster use).

It wont work without the "mq4_mq5_bridge.mqh" file. its the one that makes the magic happend and translate the MQL4 expressions to MQL5...

Since marked its closed, i cant test it yet. Ill wait for monday... Atleast not what i am aware about

My the pips be with you.
Attached File(s)
File Type: mqh mq4_mq5_bridge.mqh   112 KB | 257 downloads
File Type: mq5 MoTu_MT5_v1.mq5   2 KB | 276 downloads
  • #634
  • Mar 1, 2020 10:27am Mar 1, 2020 10:27am
Quoting tes724
Well i took my time and learned some MQL 5 my self... With some very little tweeking to the code and some "include" files we can use the script in MT5, just as in MT4. Quick guide: - Place the "mq4_mq5_bridge.mqh" file in .../MQL5/Include/" folder - Place script in ".../MQL5/Scripts/" folder - Load MT5 - Drag and drop script to chart or add a hotkey (for faster use). It wont work without the "mq4_mq5_bridge.mqh" file. its the one that makes the magic happend and translate the MQL4 expressions to MQL5... Since marked its closed, i cant test it yet....
Great work, thank you. I am using MT5 myself. Is the script working on the daily chart only? Will it always look 2 days back for finding the high/low?
  • #635
  • Mar 1, 2020 10:37am Mar 1, 2020 10:37am
It should work on any TF, just as the MT4 version. As i can see in the code it looking 2 days back from Wedensday, using the daily frame, to find the high/low. I could tweek the code to also work on thursday and look 3 days back etc. But first i want to see it work in the comming week before putting to much time into it. This was the easy fix for MT5_v1
  • #636
  • Mar 1, 2020 11:06am Mar 1, 2020 11:06am
I made manual backtest for 30 weeks. I could make some mistakes, but anyway it's showed some statistics.

25% fibo for entry, 50% fibo as SL, no TP (closing all orders 1 hour before market close), no BE.
Triggered order don't cancel opposite order. In other words, at one week you could get 2 SL in one currency. 1 by buy order and 1 by sell.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 154 KB
  • #637
  • Mar 1, 2020 11:13am Mar 1, 2020 11:13am
Quoting 0xff
I made manual backtest for 30 weeks. I could make some mistakes, but anyway it's showed some statistics. 25% fibo for entry, 50% fibo as SL, no TP (closing all orders 1 hour before market close), no BE. Triggered order don't cancel opposite order. In other words, at one week you could get 2 SL in one currency. 1 by buy order and 1 by sell. {image}
The results are not bad. Though there is obviously some heavy drawdown at times.

I think an EA with a solid trade management system can potentially improve these results.
Learn from your mistakes and march on.
  • #638
  • Mar 1, 2020 11:17am Mar 1, 2020 11:17am
Quoting here2there
{quote} If your intent is to use my EA recipe to create an EA with user restrictions/limitations, then you do not have my permission to do that. The OP was generous to share his strategy without imposing user restrictions/limitations. We should be just as generous. My EA recipe must be FREE to use, FREE to edit, and FREE from user restrictions, and may not be used for commercial purposes.
I don't need your permission to do anything and I look forward to your efforts to stop me. Unfortunately for you I do know about software copyright as I am an ex software copyright compliance lawyer having been in the industry for over 50 years, until I retired. I have extensive software development and trading experience and the help I was going to give was free and unencumbered. You will not get very far with your kind of attitude.
  • #639
  • Mar 1, 2020 11:20am Mar 1, 2020 11:20am
Quoting tes724
{quote} Because i like how MT5 works and the use of multi cores. Easier to load 28 pairs and let it run smooth in MT5. Thats my experience... And i have alot of payed stuff in MT5, that i cant use in MT4. Like trading dashboard ect.
Do you find it runs faster?
  • #640
  • Mar 1, 2020 11:26am Mar 1, 2020 11:26am
Quoting 0xff
I made manual backtest for 30 weeks. I could make some mistakes, but anyway it's showed some statistics. 25% fibo for entry, 50% fibo as SL, no TP (closing all orders 1 hour before market close), no BE. Triggered order don't cancel opposite order. In other words, at one week you could get 2 SL in one currency. 1 by buy order and 1 by sell. {image}
not a bad result. with more tuning in the variable and pair selection, it can bring to the very good result.
I'll keep watching this interesting thread.
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