I want to ask You for comments
I am looking
- For programmer for MT4 EA (pair trading / mean reverting) below, because I am not programmer
Motivation
- Extremly time savings (this system on M1, M5 TF is very time consuming - I trade these TF sucessfully 7 years ago, but I had no time sit in front of the screen)
- Elimination of the psychology
- One of the "simple and mechanical" profitable system which I used (of course, I used my brain and results of the EA will be different)
From my side
- I can provide VPS server, where we can run this EA
- Live Account with real money (testing with small microlots)
Advantages
- No brainer trading system
- Simple for understanding
- We do not "solve" if the market is going up, down or side
- Wide possibilities of diversfification (various Time Frames, different underlying assests, different trading volumes)
- Normally used by professionals
- Simple programming
- Simple Money Management
- Using correlation and cointegration of the financial instruments (no rocket science) (stocks, ETFs, FX)
- Possibly run on each Time Frames
- Ton of decriptions, example: http://piptick.com/products/indicato...d/introduction
Disadvantages
- Method not so good for lower Time Frames (hand trading)
- EA must be run 24 hours idally on the VPS server
- Higher Time Frames = long term trades (Itrade M1 and M5 only with good results)
How I traded
- I choosed high correlated and cointegrted instruments (pairs), example:
o US30 / US500
o US500 / US2000
o EURUSD / GBPUSD
o AUDUSD / NZDUSD
- Opening
o I was always looking only the biggest difference (spread) between main and second instrument. I knew, that from history for example on M1 TF was pair spread as maximum "800".
o When spread (difference) appeared I sold higher instrument and bought lower instrument.
- Closing
o Then Iwaited for exit. I used two basic exists.
- Cross: See Image below
- Opposite: Opposite (when top went down and bottom underlying went up) - this was more risky, more timeconsuming, higher gains.
Note
o Of course, we can open / close trades trades based on Standard Deviations, example https://www.fxalgotrader.com/Product...itrage-V3.html
o I do not have experiance with Standrd Deviations, but I believe for Algo Trading are "more suitable" compare to my approach.
What EA should be able to do (EA window - manual options)
- Magic numbers - parallel run more EAs
- Comments - "sign" instruments in pair -> then we can see comments in list of the live trades and Results
- Possibility measure historical spread (differences)
- Possibility of settings trading volumes (lots) for each instrument in the pair
- Possibility set up manuály second instrument from the pair into input parameters of the EA
- Set Time Frames (DropDownList) independetly on the TF set on the chart window in MT4.
- Color settings for second instrument (ColorPicker)
Main window - visible infowindow under "smail" of the EA
- Actual TF M1, M5, M15, M30, atd.
- Closing Method Cross or Opposite
- Preset SL Value At what spread will be trade close (loss)
- Preset PT Value At what spread will be trade close (profit)
- Actual spread value At which was opened
- Actual P / L value +250 USD or -250 USD
-
Example TP – Cross method: We open spread with 800 values and close with cross (on null).
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Example TP – Opposite method: We open spread with 800 values and close with opposite (-800).
-
Example SL: We open spread with 800 values and we close when spread is going more wider (1600)
- Plot in subwindows curve with (yellow curve) spread (difference) to history, example: http://piptick.com/products/indicato...d/introduction
Indicator, sripts
- Attached Indicator (overaly-chart.mq4) and some sripts which I used for manual entries.
