Hey Guys,
I've been a long time reader of forex factory but haven't contributed much in the past. I thought I'd share an EA I've recently revisited that I put together for a friend a while back. I'm hoping forum members here can look at it with a discerning eye and either suggest modifications or make modifications themselves and share in whatever may be the outcome of the EA.
With that said, onto the EA and strategy. The strategy may not be all that revolutionary (and that can probably be said for the EA as well) but it's based on new highs/lows depending on timeframe, etc. When a new high/low is detected stop orders are placed 15 pips away hoping to take advantage of the price changes. Originally, my friend and I intended to use on time frames H1 and above, but the more I fool around and modify the EA the more I find it may be useful on lower timeframes as well. We've found it to work alright on most pairs, obviously it is going to be spread sensitive and
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The EA has two sorts of cycles, the global one , which stops when the SL or TP in account currency is reached , and the local one when we set the stop order and drag it with the price which stops when the order is filled.
nbSteps allows you to fine tune the sl/tp size so that you reach your value if you have nbSteps straight losses/wins - essentially stopping the EA
resetTriggerInPips - Size of the move the EA waits for after the global cycle is done
forgetTriggerInPips - Size of the move the EA waits for after the local cycle is done.
*SL and TP are in dollars right now - Also are hidden.
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Some things I'd like to do (but not sure if it increases the profitability of the strategy):
- In order to capitalize on the new highs/lows I've found it necessary to use quasi-martingale lot sizing - I never like using martingale pricing but haven't found a way to make this work (well) otherwise
- Increase functionality, I haven't tried but have contemplated adding a hours function and variables to permit the EA only to trade between certain hours.
Any thoughts, suggestions, modifications, criticisms, are highly welcomed.
I apologize in advance for the lack of useful code comments and general sloppy coding...
I've been a long time reader of forex factory but haven't contributed much in the past. I thought I'd share an EA I've recently revisited that I put together for a friend a while back. I'm hoping forum members here can look at it with a discerning eye and either suggest modifications or make modifications themselves and share in whatever may be the outcome of the EA.
With that said, onto the EA and strategy. The strategy may not be all that revolutionary (and that can probably be said for the EA as well) but it's based on new highs/lows depending on timeframe, etc. When a new high/low is detected stop orders are placed 15 pips away hoping to take advantage of the price changes. Originally, my friend and I intended to use on time frames H1 and above, but the more I fool around and modify the EA the more I find it may be useful on lower timeframes as well. We've found it to work alright on most pairs, obviously it is going to be spread sensitive and
_________________________________________________________________
The EA has two sorts of cycles, the global one , which stops when the SL or TP in account currency is reached , and the local one when we set the stop order and drag it with the price which stops when the order is filled.
nbSteps allows you to fine tune the sl/tp size so that you reach your value if you have nbSteps straight losses/wins - essentially stopping the EA
resetTriggerInPips - Size of the move the EA waits for after the global cycle is done
forgetTriggerInPips - Size of the move the EA waits for after the local cycle is done.
*SL and TP are in dollars right now - Also are hidden.
_________________________________________________________________
Some things I'd like to do (but not sure if it increases the profitability of the strategy):
- In order to capitalize on the new highs/lows I've found it necessary to use quasi-martingale lot sizing - I never like using martingale pricing but haven't found a way to make this work (well) otherwise
- Increase functionality, I haven't tried but have contemplated adding a hours function and variables to permit the EA only to trade between certain hours.
Any thoughts, suggestions, modifications, criticisms, are highly welcomed.
I apologize in advance for the lack of useful code comments and general sloppy coding...
Attached File(s)
