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Attachments: Your EA v3 - Daily Low & High Strategy
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Your EA v3 - Daily Low & High Strategy

  • #21
  • Jul 28, 2023 7:06am Jul 28, 2023 7:06am
Quoting rockzz
{quote} Actually friend...I have no coding knowledge and I built this EA through ChatGPT. If developers like you take care of this EA, it will be more profitable while live trading. Please help me friend.
But I'm not a developer or coder, only a hobby trader; how can I make that clear?

Perhaps post it in the Platform Tech forum, under this thread -

https://www.forexfactory.com/thread/...indicators-for

I can see days where you will wish for a bigger exit strategy, see this chart, are the approximate entry levels correct?

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-07-28_21-56-15.jpg Size: 151 KB
It takes a lot for me to IGNORE you, but you can try.
  • #22
  • Jul 28, 2023 7:13am Jul 28, 2023 7:13am
Quoting Erebus
{quote} But I'm not a developer or coder, only a hobby trader; how can I make that clear? Perhaps post it in the Platform Tech forum, under this thread - https://www.forexfactory.com/thread/...indicators-for I can see days where you will wish for a bigger exit strategy, see this chart, are the approximate entry levels correct? {image}
Thanks friend...Your idea is 100% correct...Can you clearly explain the exit and entry strategy?
  • #23
  • Jul 28, 2023 7:40am Jul 28, 2023 7:40am
Quoting rockzz
{quote} Thanks friend...Your idea is 100% correct...Can you clearly explain the exit and entry strategy?
You are confusing me: we are talking about the Your EA in Post #1 are we not?

It takes a lot for me to IGNORE you, but you can try.
  • #24
  • Jul 28, 2023 7:45am Jul 28, 2023 7:45am
Quoting Erebus
{quote} You are confusing me: we are talking about the Your EA in Post #1 are we not?
Yes...
Actually the decision to place a Buy Stop or a Sell Stop order is based on comparing the lengths of two parts of the previous daily candle called "wicks." The "wickBuy" represents the lower shadow of the candle (the distance between the open price and the low price), and the "wickSell" represents the upper shadow of the candle (the distance between the high price and the open price).
If the "wickBuy" is longer than the "wickSell," the strategy places a Buy Stop order. On the other hand, if the "wickSell" is longer than the "wickBuy," the strategy places a Sell Stop order.
  • #25
  • Jul 28, 2023 9:01am Jul 28, 2023 9:01am
I like it simple .... simple rule for entry and exit

EURUSD Daily Jan 01 2018 to July 27 2023 ...

the winning 'edge' is a minimum risk : reward 1:2

Attached Image (click to enlarge)
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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #26
  • Jul 28, 2023 9:03am Jul 28, 2023 9:03am
Quoting Erebus
{quote} But I'm not a developer or coder, only a hobby trader; how can I make that clear? Perhaps post it in the Platform Tech forum, under this thread - https://www.forexfactory.com/thread/...indicators-for I can see days where you will wish for a bigger exit strategy, see this chart, are the approximate entry levels correct? {image}

there need one more filter for sell stop and/or buy stop ...

I can call that filter Sell Only or Buy Only ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27
  • Edited 12:02pm Jul 28, 2023 11:25am | Edited 12:02pm
Quoting bountintern
Thankyou, I have done that, is a negative equity curve now
Thanks rockzz for sharing.
Bountintern if you have a flat or negative curve, check the spread you have in the backtest.
What Erebus says about the ADR is right, it depends on each currency and each period of time, sometimes 100 will be little potential travel and in other currencies it is too much, but you have a very good starting point.

What I do not know to what extent will affect the internal movement of the candle in the backtest.
  • #28
  • Jul 28, 2023 12:34pm Jul 28, 2023 12:34pm
Quoting rockzz
{quote} Có... Trên thực tế, quyết định đặt lệnh Dừng Mua hoặc Dừng Bán dựa trên việc so sánh độ dài của hai phần của nến hàng ngày trước đó được gọi là "bấc". "wickBuy" đại diện cho bóng dưới của nến (khoảng cách giữa giá mở và giá thấp) và "wickSell" đại diện cho bóng trên của nến (khoảng cách giữa...
It seems to me that the EA is wrong in logic, based on whether it should be bullish or bearish before, the logic of the wick is different. for example if candlestick is bullish then wichBuy = OpenPrice - LowPrice, wickSell = HighPrice - ClosePrice, wichSell is vice versa. Since I can't see the code, I'm just guessing based on the chart
  • #29
  • Jul 28, 2023 2:24pm Jul 28, 2023 2:24pm
Quoting emmanuel7788
I like it simple .... simple rule for entry and exit EURUSD Daily Jan 01 2018 to July 27 2023 ... the winning 'edge' is a minimum risk : reward 1:2 {image} {image} ...

GBPUSD Daily Jan 01 t0 Jul 27 2023


Attached Image (click to enlarge)
Click to Enlarge Name: Your EA Daily GU 2018 to 2023 29-7-2023 3-19-56 am.png Size: 7 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30
  • Jul 28, 2023 2:45pm Jul 28, 2023 2:45pm
Quoting rockzz
{quote} Yes... Actually the decision to place a Buy Stop or a Sell Stop order is based on comparing the lengths of two parts of the previous daily candle called "wicks." The "wickBuy" represents the lower shadow of the candle (the distance between the open price and the low price), and the "wickSell" represents the upper shadow of the candle (the distance between the high price and the open price). If the "wickBuy" is longer than the "wickSell," the strategy places a Buy Stop order. On the other hand, if the "wickSell" is longer than the "wickBuy,"...

simple enough


"Cut-Losses Short" when you are wrong and "Let Profits Run" when you are correct.


Attached Image (click to enlarge)
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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31
  • Jul 28, 2023 3:34pm Jul 28, 2023 3:34pm
Quoting emmanuel7788
{quote} simple enough "Cut-Losses Short" when you are wrong and "Let Profits Run" when you are correct. {image} ...
simple but not easy
  • #32
  • Jul 28, 2023 4:08pm Jul 28, 2023 4:08pm
Quoting rockzz
*Your EA v3* backtest results looks promising and auspicious... EXACT STRATEGY BEHIND THIS EA The strategy trades on the daily (D1) timeframe. The strategy uses two pending orders: a Buy Stop order and a Sell Stop order. At the start of each new day, the code checks if a new candle has formed. If it's a new day, the strategy resets the "orderPlaced" variable to false, allowing it to place a new order if conditions are met. The strategy calculates the "wickBuy" and "wickSell" values based on the difference between the open price and the low price...
Hmm, several principal problems:
1) you are not taking gaps and spreads into account. Mt4 issue. Try mt5.

2) Define your profitability expectation. +400% in 20 years? Lol. You will need huge capital for that being vital, and then liquity questions coming in.

3) Why are you using graphs? If this is EA -- bother to provide minimal measurable values. If lazy -- publish at least Recovery Factor, Sharpe and Sortino Ratio, and Kelly criterion, they are usually implemented as defaults. Not only graphs.

4) Why fixed values? Easy to overfit backways, try not to use fixed values which just work out. Lead values for tp and sl from ATR for example, with regular recalculating.

P.S. when you fix all those, and start calculating profit, you will notice that due to low winrate you have to place minimal positions --> that thing is profitable, but not worth it. ( if remember correctly)
  • #33
  • Jul 28, 2023 4:08pm Jul 28, 2023 4:08pm
Quoting emmanuel7788
{quote} GBPUSD Daily Jan 01 t0 Jul 27 2023 {image} ...
@emmanuel7788
Did you modified the EA posted on page 1?
If yes, what did you do differently?
Thanks
  • #34
  • Jul 28, 2023 9:06pm Jul 28, 2023 9:06pm
Quoting Merka
{quote} @emmanuel7788 Did you modified the EA posted on page 1? If yes, what did you do differently? Thanks

@Merka

No. The OP did not provide the .mq4 code file.


Run the EA as it is on Daily and observe the price action and how the 'wickBuy' and 'wickSell' and the pending order Buy Stop and Sell Stop are placed as explained in post #24. There's something to learn here then you can further develop a 'strategy' for Day chart trading.
https://www.forexfactory.com/thread/...0#post14515310

Run the EA with different Risk : Reward ratios and learn something more ... not just entry and exit.
R:R 1:5 is not necessary better than 1:3
There is the Fear and Greed factors when trading the markets and knowing when to Greedy will decide your profits.
Always be fearful and have a Stop Loss.

Attached Image (click to enlarge)
Click to Enlarge Name: Fear and Greed Warren Buffett.png Size: 192 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35
  • Jul 28, 2023 9:47pm Jul 28, 2023 9:47pm
Quoting tienphuc2910
{quote} It seems to me that the EA is wrong in logic, based on whether it should be bullish or bearish before, the logic of the wick is different. for example if candlestick is bullish then wichBuy = OpenPrice - LowPrice, wickSell = HighPrice - ClosePrice, wichSell is vice versa. Since I can't see the code, I'm just guessing based on the chart
PMed you the logic of this strategy. Looking for further updates from you. THanks friend.
  • #36
  • Jul 28, 2023 9:51pm Jul 28, 2023 9:51pm
Quoting emmanuel7788
{quote} @Merka No. The OP did not provide the .mq4 code file. Run the EA as it is on Daily and observe the price action and how the 'wickBuy' and 'wickSell' and the pending order Buy Stop and Sell Stop are placed as explained in post #24. There's something to learn here then you can further develop a 'strategy' for Day chart trading. https://www.forexfactory.com/thread/...0#post14515310 Run the EA with different Risk : Reward ratios and learn something...
PMed you the source code file friend. Looking for updates from you. Yes @AleksDark is exactly correct. We need to mind his points.
  • #37
  • Jul 28, 2023 10:09pm Jul 28, 2023 10:09pm
MQL4 file ie., source code file uploaded in the first post.
Looking for developers to takeover this thread for further EA updates. Thanks everyone.
  • #38
  • Jul 29, 2023 5:29am Jul 29, 2023 5:29am
Quoting rockzz
{quote} PMed you the source code file friend. Looking for updates from you. Yes @AleksDark is exactly correct. We need to mind his points.

Thank you.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #39
  • Jul 29, 2023 8:58pm Jul 29, 2023 8:58pm
Quoting AleksDark
{quote} / 2) Define your profitability expectation. +400% in 20 years? Lol. You will need huge capital for that being vital, and then liquity questions coming in. //
400% in a 20-years trading cycle ... that is also possible and you need a plan.

Is USD10,000 considered as huge capital?

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #40
  • Jul 30, 2023 2:09am Jul 30, 2023 2:09am
Quoting emmanuel7788
{quote} GBPUSD Daily Jan 01 t0 Jul 27 2023 {image} ...
Your backtests isnot correct . because u test in "control point" u should test in "every tick"
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