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Daily95pips

A few days ago mike asked me to write EA for Daily95pips strategy.
I can see that pipimo88 has also prepared some other EA, but as I don't like having my projects unfinished, I present here the first version of my EA.

Is is totally automated system. Just add it to your H1 chart, enter parameters and let it work.
Do not use it on your live account now! It's the first release and quite a few bugs may come out.

To make it work you can either:

  1. Download mq4 file, copy it to 'experts' folder (located in your MetaTrader platform directory) and compile it.

or

  1. Download ex4 file, copy it to 'experts' folder.

Than restart MetaTrader if necessary and you can find the EA in Strategies node ready to use.

Parameters:

  1. FixedLots - amount of lots used for each order. If this is set to 0.0, Risk value will be used.
  2. Risk - per cent of capital used for each order. For 0.01 value each order will use the amount of lots equal to 1% of your free margin, i.e. for the total of 3 orders it will take 3% of your balance.
  3. Margin - number of pips added to /substracted from day high/low. By default it is set to 5.
  4. StopLoss - initial stop-loss value.
  5. TakeProfit1, TakeProfit2, TakeProfit3 - take profit values.
  6. DayStartHour - hour in your time zone that starts the forex day.
  7. LookBackHours - numbers of hours that EA looks back determining day high/low.
  8. OrderExpirationHours - number of hours after which buy/sell stop hours will expire.
  9. CloseOrdersNextDay - set to true, if you want to close open orders at the end of the day.

EA with default settings works according to the rules stated int post #1.
Additionally:

  1. When buy orders are triggered, sell stop orders are deleted. And vice versa. (One-cancels-other function).
  2. Stop loss is moved to break-even point after reaching first take-profit.

That would be it.
Waiting for your remarks.

Cheers,
Pr1mer

Attached File(s)
File Type: mq4 Daily95pips.0.2.mq4   5 KB | 824 downloads
File Type: ex4 Daily95pips.0.2.ex4   7 KB | 612 downloads
EXCELLENT Pr1mer...

Wish I knew you were doing this so I didn't have to write my "using an EA" book a few posts ago:. I vote to make Pr1mer the official EA tech support guy/gal.
Quoting pipimo88
Here's the link for downloading history data: http://www.alpari-idc.com/en/dc/databank.html
tnx!


p.s.
Regarding your private message. I have some difficulties replying (do not have priviliges ) so please send me your email and we will continue there.
To all that have been contributing Great work Thanks

Pr1mer could you please add a Force start option to the EA so it can start as soon as its applied to a chart. In case of a crash or other reason.

Also an option to change "When buy orders are triggered, sell stop orders are deleted. And vice versa" to true or false.

Thanks
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting mihat
tnx!


p.s.
Regarding your private message. I have some difficulties replying (do not have priviliges ) so please send me your email and we will continue there.

to reply to PM you need to have posted either 5 or 10 times, go visit some other threads and say hello. try the comedy club.
I'd like to thank both pipimo88 and pr1mer for the exceptional amount of effort put into creating the EA's.
The progressive development if this thread has exceeded my expectations and I look forward to participating in a fully automated system that brings us all many happy pips.

mike
how do i get this ea started can you direct me to the post on how to start this system do i have you try to open on each chart
Hi Pr1mer.

A job well done !

I'm currently using the ex4 file on a demo account with ODL.
As could be expected, I have a few questions regarding the EA:

Is is totally automated system. Just add it to your H1 chart, enter parameters and let it work.
EA with default settings works according to the rules stated int post #1.
Q. If I don't enter parameters will the EA automatically use the default parameters?

I've added the EA to 1H charts of EURUSD, USDCHF, USDJPY, GBPUSD and EURJPY. However, even though the smiley face is showing at the top right of the chart, the entry, limit and stop levels are only showing on the USDCHF and GBPUSD charts and not the others. I've attached the pics of the GBPUSD and EURJPY charts to this post to show the difference.(It's the first time I've attached charts so I hope this works....)
What could be the possible reason for this ?
Does this mean the orders will only trigger on the GBPUSD and USDCHF pairs and not the others ?
What can I do to rectify ?

mike




Quoting Pr1mer
A few days ago mike asked me to write EA for Daily95pips strategy.
I can see that pipimo88 has also prepared some other EA, but as I don't like having my projects unfinished, I present here the first version of my EA.

Is is totally automated system. Just add it to your H1 chart, enter parameters and let it work.
Do not use it on your live account now! It's the first release and quite a few bugs may come out.

To make it work you can either:

  1. Download mq4 file, copy it to 'experts' folder (located in your MetaTrader platform directory) and compile it.

or

  1. Download ex4 file, copy it to 'experts' folder.

Than restart MetaTrader if necessary and you can find the EA in Strategies node ready to use.

Parameters:

  1. FixedLots - amount of lots used for each order. If this is set to 0.0, Risk value will be used.
  2. Risk - per cent of capital used for each order. For 0.01 value each order will use the amount of lots equal to 1% of your free margin, i.e. for the total of 3 orders it will take 3% of your balance.
  3. Margin - number of pips added to /substracted from day high/low. By default it is set to 5.
  4. StopLoss - initial stop-loss value.
  5. TakeProfit1, TakeProfit2, TakeProfit3 - take profit values.
  6. DayStartHour - hour in your time zone that starts the forex day.
  7. LookBackHours - numbers of hours that EA looks back determining day high/low.
  8. OrderExpirationHours - number of hours after which buy/sell stop hours will expire.
  9. CloseOrdersNextDay - set to true, if you want to close open orders at the end of the day.

EA with default settings works according to the rules stated int post #1.
Additionally:

  1. When buy orders are triggered, sell stop orders are deleted. And vice versa. (One-cancels-other function).
  2. Stop loss is moved to break-even point after reaching first take-profit.

That would be it.
Waiting for your remarks.

Cheers,
Pr1mer

Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 74 KB
Click to Enlarge Name: eurjpy.gif Size: 72 KB
  • Post #549
  • Quote
  • Edited Oct 9, 2007 6:13pm Oct 8, 2007 9:34pm | Edited Oct 9, 2007 6:13pm
Ok, while the EA is being tested and tweaked I'll continue to post my manually tested results. Even though I'm only going to include 3 pairs here I will continue testing 5-6 pairs with the EA.

Daily95pips:

Date: Monday 8 October 2007
EURJPY nt
USDJPY +15
EURUSD nt

Total: +15pips


Comment: A 'ranging' day, though any positive result is fine by me.

Date: Tuesday 9 October 2007
EURJPY +45
USDJPY -90
EURUSD +15

Total: -30pips

Comment: It feels like I'm restricting myself by 'stripping' back the pairs to only 3. However, the results from the past 6 weeks show otherwise. I shall persevere and expect continued profits from these 3 pairs.
I have been through the entire thread few times but couldn't find the reason for choosing + 5 to the highest and - 5 to the lowest prices of previous day.

Any specific reasons?
Would I not get faster entry price if I was setting up same price as previous day?
Or is it specific for an up-trend chart?
Would a -5 high and +5 low apply for a down-trend ?

Hope this question make sense (anyway, it will help me somehow)
Quoting mikelath
Ok, while the EA is being tested and tweaked I'll continue to post my manually tested results. Even though I'm only going to include 3 pairs here I will continue testing 5-6 pairs with the EA.

Daily95pips:

Date: Monday 8 October 2007
EURJPY nt
USDJPY +15
EURUSD nt

Total: +15pips


Comment: A 'ranging' day, though any positive result is fine by me.
well i'm know forward test live this method.......
+11 pips for me on USD/JPY ( i only aim 30pips not 95 pips )
Every moment in the market is unique
Hello pipimo88,

Can I use your trademanager_ea to manage orders that are not triggered using the stop_order_magic? I like that the orders are saved on my computer and not on the platofrom itself. This is an invaluable feature.

For example if I opened a manual sell order for the GBPUSD at 2.0331 and I want to set my s/l for 100 pips and my t/p for 200 pips with some sort of t/s allong the way, can I use your trademanager_ea to manage this trade?

I did try to put it on the chart and I got the smiling man, but some of the settings I was unsure about and also it said that it was managing trade with magic number 11111 and of course there was no trade with this magic number since I manually made the entry.

What are your thoughts and thanks for your efforts.
"Keep your eyes on the helpers" - Mr. Rogers
Quoting damonl
Hello pipimo88,

Can I use your trademanager_ea to manage orders that are not triggered using the stop_order_magic? I like that the orders are saved on my computer and not on the platofrom itself. This is an invaluable feature.
The EA will manage a MAGIC NUMBER... not an "order". You place an order and assign a Magic No. to it for the specific purpose of having THAT order managed by THAT Magic No. If you just place an order straight from MetaTrader, the EA won't know what to manage.

Quoting damonl
For example if I opened a manual sell order for the GBPUSD at 2.0331 and I want to set my s/l for 100 pips and my t/p for 200 pips with some sort of t/s allong the way, can I use your trademanager_ea to manage this trade?
Use the "order_script" to enter that order and assign a Magic No. just so it's assigned. Just put a label in the corner so you know what No. you assigned. You don't HAVE to use the EA. But if you need to walk away in a hurry, you can just set it later because Magic No is already assigned.

If you want to have a "hard" S/L and T/P set along with your order, then use the script to place the initial order and assign Magic No. Then in your terminal, open the placed order to "modify" it and set the hard S/L and T/P. If later you use the EA to manage it, your EA settings or hard T/P will trigger, whichever is hit first.
THIS IS ACTUALLY A GOOD PRACTICE, when using EAs, as a safety measure to have the S/L and T/P placed directly with broker. That way if you lose power in the middle of night and EA stops managing, you still have a safety net.[/quote]

Quoting damonl
I did try to put it on the chart and I got the smiling man, but some of the settings I was unsure about and also it said that it was managing trade with magic number 11111 and of course there was no trade with this magic number since I manually made the entry.
If you use the EA and assign Magic No 11111, then finish that trade, right-click the "smiley" > properties > remove... to remove that EA and start a new one next time you place an order. The EA remains attached and remembers the OLD Magic No. until you REMOVE it (you must have used 11111 before and didn't remove the EA from the chart for the new order)... don't just change properties and enter a new Magic No. for the old EA. Attach a new EA to the new order.

This is why I provided an "order" script separate from the trade manager (EA). So people actually learn how this stuff works.

Hope that helps.
Sorry guys I won't be replying your questions instantly, but my internet access is limited for now. Additionally I'll only have time to work on this EA in the evenings (GMT time zone ).

Feel free to ask questions here and sugest improvements. I'll try to fix/implement them as soon as possible.

Cheers,
Pr1mer
Quoting mikelath
Ok, while the EA is being tested and tweaked I'll continue to post my manually tested results. Even though I'm only going to include 3 pairs here I will continue testing 5-6 pairs with the EA.

Daily95pips:

Date: Monday 8 October 2007
EURJPY nt
USDJPY +15
EURUSD nt

Total: +15pips


Comment: A 'ranging' day, though any positive result is fine by me.
What is your overall win/loss ratio since testing these strategies ? I trade a similar strategy on the GBP/USD pair but have a 1.75 : 1 risk ratio to ensure I have more winning than losing months.
Hi all;
Thank you for the EA Pr1mer and for great explanations pipimo88. My questions is for Pr1mer...

Will the EA execute a trade EVERY time it meets the definition of high+5 / low-5, or just the first time it's triggered, at which time it cancels the other order as well?

If it triggers every time, it might be a bit too much action

Thank You
Quoting mikelath
Q. If I don't enter parameters will the EA automatically use the default parameters?
All the default params settings comply to the rules in post #1.
I just didn't know about closing the orders the following day. So CloseOrdersNextDay set to false (the default setting) will leave the orders opened the previous day. Setting it to true will close all the open orders at the end of the day.

Quoting mikelath
I've added the EA to 1H charts of EURUSD, USDCHF, USDJPY, GBPUSD and EURJPY. However, even though the smiley face is showing at the top right of the chart, the entry, limit and stop levels are only showing on the USDCHF and GBPUSD charts and not the others. I've attached the pics of the GBPUSD and EURJPY charts to this post to show the difference.(It's the first time I've attached charts so I hope this works....)
What could be the possible reason for this ?
Does this mean the orders will only trigger on the GBPUSD and USDCHF pairs and not the others ?
What can I do to rectify ?
There might be a bug, as I didn't test it much for using this EA in many pairs at once. I'll take a look at it.

Cheers,
Pr1mer
Quoting freevey
Will the EA execute a trade EVERY time it meets the definition of high+5 / low-5, or just the first time it's triggered, at which time it cancels the other order as well?
At the begining of the day there are buy/sell stop orders set - so they'll be triggered only once.

Cheers,
Pr1mer
Quoting Pr1mer
All the default params settings comply to the rules in post #1.
I just didn't know about closing the orders the following day. So CloseOrdersNextDay set to false (the default setting) will leave the orders opened the previous day. Setting it to true will close all the open orders at the end of the day.



There might be a bug, as I didn't test it much for using this EA in many pairs at once. I'll take a look at it.

Cheers,
Pr1mer
Cool...Now that I've set CloseOrderNextDay to true I assume that the EA will simultaneously close any remaining open orders and calculate and enter the new orders for the next day ?

....yes, I guess we need to allow some time to smooth out any bugs...please keep us posted.

Yesterday, the EA's stops definitely worked on the GBPUSD trade.

So far so good.

mike
Are you trading this manually along with the EA? It will be interesting to see how the 2 compare.

This is a great thread. I have been following it for a long time.

You presented the system back in August. I was just wondering how long before then that its been successful.

Thanks again.

Carol
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