Trading Initial Balances and EA

What? No! The whole point of the EA is to take trades when there is a break out above the high or below the low of the initial balance. That's the whole idea of trading initial balances. Here's a little more if you need a refresher:

https://www.forexfactory.com/thread/...alances-and-ea

Again, the TP is the SL multiplied. That being said:

1. There will always be a SL (RISK MANAGEMENT)
2. The SL is always going to be the opposite side of the break out. Example: if price breaks above the IB high and a long position is taken the SL will always be the IB low and if price breaks below the IB low and a short position is taken the SL will always be the IB high.
3. Explanation of TP calculation: TP is the SL multiplied. So again as explained in the image that I sent you, let's set an example where the pips from the position to the SL is 10 pips. If the "Take_Profit_Percent" in the EA is set to 100 then the TP will be 100% of the SL. So in this case:
   10 pips (SL) x 1 = 10 pips.
   
   If the "Take_Profit_Percent" in the EA is set to 200 then the TP will be 200% of the SL.
   10 pips (SL) x 2 = 20 pips.
   
   If the "Take_Profit_Percent" in the EA is set to 0 then there will be an error. Why? In math something x zero equals zero.
   10 pips (SL) x 0 = 0 pips. This will throw off an error and no position will be taken because the EA will not be able to calculate a TP.

The "Take_Profit_Percent" in the EA has nothing to do with where an entry is made, it's only designed for you to calculate your take profit levels. That's why it's labeled as "Take_Profit_Percent".

Hope that helps clear things up a little.

Ok, I think you understood the issue wrongly here.

The issue is the entry is not taken on break of the IB. It's in the middle of the IB. And SL for the entry isn't at the opposite side of the entry, but instead at the middle of the IB, which doesn't make sense too.

Also, this issue happens only if trigger of the entry is made after 30 mins of the IB. If it's within 30 mins of the IB, all no issues at all.

Nothing about the TP, as if entries are triggered within the 30mins of the IB, all runs well. Problem only arise when it is triggered if entry is triggered after the 30 mins timeframe from the IB range.

FYI, though my TP is inserted by another EA, if entries are triggered within the 30 mins timeframe of the IB, then it runs well like clockwork. All the issues start when entry is out of this 30 mins timeframe.

Today's trades after the huge drop over the weekend over tariff news.

S&P 500 Futures
Quick 10 pips



Dow Jones Futures
Another quick 10 pips


Nasdaq Futures
This trade took a little more time but finally got there.

Yesterday's trades. Forgot to post them. S&P 500 and Dow Jones gave us 10 pips pretty quickly but Nasdaq didnt have enough momentum so a buy position stayed open there.

Today's trades.

S&P 500 Futures
I managed to get 20 pips from this index because again for external reasons I reset my MT5 and the EA reset, so when the first position closed the EA took another position.


Dow Jones Futures
Dow Jones with another 10 pips.


Nasdaq Futures
Yesterday's position closed at today's close.


NVDIA
Yesterday the IB EA opened a long position that closed at today's open and another long position opened today.

Today's trades. Remember that not all trades are winners and no strategy is 100% profitable.

S&P 500 Futures
Price broke out to the IB low early in the session, then hit SL. I took another manual position when price broke below and was stopped out. Price moved around inside the IB range throughout the session and broke below IB low again but I was not going to trade any more.


Dow Jones Futures
Dow Jones broke out to the IB low early in the session and hit TP quickly.


NVDIA
Long position from yesterday's IB break out hit TP LITERALLY at the last minute of today's session.


Nasdaq Futures
I had turned off the IB EA earlier so the breakout below the IB low was not triggered, also since price chopped around so much I didnt take it manually. But I took a manual long on the break out to the upside on the last 5 minutes of the session, will leave over night and close before tomorrow's NFP print.

Using Initial Balances on Stocks
One thing about trading the Initial balance on stocks is that stocks gap. This can be good, or it can be really bad. Here's an example of Google. Tuesday's price action broke above the IB and the EA took a long position with the SL at the IB low. Normal right? Well, earnings reports came out, Google disappointed and Wednesday's open was a huge gap down. When this happens the position does not close at the SL, it closes where it opens. In this case, way below the the SL.

Friday's trades hitting profit with overnight/weekend open. A lot of volatility between data and tariff news. This coming week will be another volatile one.

S&P 500 Futures

Attached Image (click to enlarge)

Nasdaq Future
Thursday's long position was closed at Friday's open with NFP news, then a short position taken after an IB low breakout.



Dow Jones Futures

Attached Image (click to enlarge)

Yesterday's trades. One with the EA and one manually.

S&P 500 Futures
Tuesday's EA long position was still open so the EA would not open a new position, so I opened a long position manually at the IB high break out.


Dow Jones Futures

Ran this yesterday on a number of pairs but no trades entered.. I’m not getting the boxes like your images show and no errors in the journal either. Anyone else used this and it’s working?

Today's trades. A few from earlier this week closed.

S&P 500 Futures


Nasdaq Futures
Positions from Tuesday and yesterday closed at today's open with the core PPI data.


Dow Jones

Attached Image (click to enlarge)

Is it possible, that you upload EA Updates also in #post1?
Is there also an overview of all trades from you, done by the EA, e.g. via Myfxbook?

No new updates to the EA have been published. Only post #1 and the one in post #41 (https://www.forexfactory.com/thread/...7#post14691267)
Also, my profile has a few trade explorers where you can see my trades and testing.

EA does not work for me, using default settings as per image one. I dont have the indicators used so perhaps this is the reason why I do not know.

Anyone using this successfully?

The EA doesnt use any indicators.

Could you post the mql4 code so I can take a look to see why trades aren’t opening despite the correct settings

Today's trades.
Yesterday markets were closed for President's Day so today we had one stock position from last week close in profit at the open.

S&P 500 Futures


Nasdaq Futures
I accidentally reset the EA today which led to these two loosing positions being taken. Remember that the EA only takes 1 trade, per direction, per day.


Dow Jones Futures
This trade was taken early in the day and was left open since no TP was hit.


NVDIA
This position was opened last week and with today's open the TP was hit.


TSLA
This short position was opened on Friday of last week. Stopped out at today's open.

Today's trades.

S&P 500 Futures
This was a quick and easy trade. 10 pips in and done.


Dow Jones Futures
Yesterday's long position closed today.

Attached Image (click to enlarge)

Nasdaq Futures
Long position triggered, not enough momentum to make the full 10 pip TP.


TSLA
Yesterday's short position closed at today's open.

Thursday and Friday trades.

S&P 500 Futures

Attached Image (click to enlarge)

Dow Jones Futures
Thursday's short


Friday's short


NVDIA Short


APPL
Whiplashed on this stock

Gentle Sirs, can you help me to configure your EA from 12:00 to 15:59?