Cornflower Hourly System

Hi everyone - I'm the new guy

I've been a programmer since high school and this weekend decided to teach myself MQL4. The Cornflower system seemed like a good project to learn with due to its simplicity. I didn't see that anyone had posted an EA for it - if I've missed it, my apologies. Hopefully I'm not stepping on anyone's toes here.

I hesitate to post the EA itself as it is still in its development stages. If anyone that has experience with MQL4 wants to see it, they're welcome to PM me for it. Backtesting shows some modestly successful gains over the past three months. These gains are all based on trades of one lot at a time.

EURUSD - 753 pips
AUDUSD - 721 pips
USDCAD - 669 pips
USDCHF - 254 pips

These figures initially excited me, very much!! But further examination tells me it can be better Some notes:

1) While the EA is profitable, profitable trades occur only about 50-60% of the time. Higher gains than losses compensate for this, however, I would like to refine the entry criteria. More to follow.

2) I find that this EA works best with a currency that is strongly trending. Even moderate choppiness (is that a word?) shows more losing than winning trades. I added to the D1 chart EMA62, EMA200, and SMA800 (thanks Tiki) which improved this greatly. I hope that fixing the point above will also help this.

Here's the entry strategy. First, find the general trend direction.

if (EMA62 > EMA200 && EMA200 > SMA800) Direction = 1; // Uptrend
else if (EMA62 < EMA200 && EMA200 < SMA800) Direction = 2; // Downtrend
else return(0); // Choppy trend

Next, make sure the 72, 24, 12, and 8 EMAs are stacked properly. (Reverse of this for a short of course.)

if (EMA72 < EMA24 && EMA24 < EMA12 && EMA12 < EMA8)

I have good luck with timing the entry using EMA24 and EMA8 on the M15 chart. (Reverse for a short.)

if (EMA24_M15 < EMA8_M15)

Finally, I look to see if the bid has pulled back to the EMA12.

if (Bid < EMA12)

I've been experimenting with the angles of EMAs 8 and 24 on the M30 chart. This seems to improve entries with some currencies, but not others. Still debating whether to include this in the finished product. (S1 and S15 refer to the parameter "Shift".)

if (EMA8_M30_S1/EMA8_M30_S15 > 1.0001 && EMA24_M30_S1/EMA24_M30_S15 > 1.0001 )

I exit when the EMA24 crosses the EMA12.

Well, there you have it. I would MORE than welcome any and all comments that I could use to refine my criteria. I'm mainly concerned with making the EA work in a choppy market...or at least recognize this fact and not trade. Once it's done, I'm happy to post it...hopefully others can at least learn something from it.

Kindest regards,
Mango from British Columbia, Canada

Hi Mango,
Very nice effort.

Could you post the backtest result together with visual chart just for the month of November 2007? I'd like to see and validate your ea entry as compared to original CF rules.

Thanks.

Hello Mango.
Pls send me your EA ({ email address deleted by staff }),
I wish to test it with my MT and my broker.
Thanks.

To all those who sent me PMs,

I have discovered I cannot yet send PMs back to you as I am new to this forum. If you don't mind PMing me your email address, I'd be happy to email you the EA.

Kindest regards,
Mango

Hi, Mango, please send me your EA. I have not posted enough either.
My mail is: ({ email address deleted by staff })

I have noticed your presence on some of the same threads that I monitor.

I might have info that could help you.

Charles

Hi Mango

I am interested in your EA , please send it to me at
{ email address deleted by staff }

Thanks in advance, I program as well so will eb abel to give you some comments if there will be any.

Jenna

Hi Mango,

I'm also in BC, in Victoria actually. I assume you're in the lower mainland?

Anyway, if you'd like some assistance with your EA I'd be willing to help too. I'm relatively quiet on the forums but I've been trading for a few years now and may be able to help refine things for you.

Feel free to email me at { email address deleted by staff }

Cheers,
Boyd

Hi Mango,

Can you send me the EA also. Thanks before... i am looking forward for this EA...

this is my email : { email address deleted by staff }

hey mango,
please send me your EA at { email address deleted by staff }

Hi, Mango, please send me your EA. I too have not posted enough either.
My mail is: ({ email address deleted by staff })

I have noticed your presence on some of the same threads that I monitor.

I cannot do backtesting, but can help with forward testing

thanks,
Ron

Hi Mango,
Could you please attached your EA in the post? I'm sure this will benefit all trader following this thread.

Others,
Who are still interested in CF style of trading, why dont we start sharing chart of possible trade. Also, trader with EA, you can share your entry so we can match that with manual chart.

Great trading to all.
CW

If you can would you please send a copy of the EA to my email address....{ email address deleted by staff }
I will start to test and report results.

Thanks,

Scott

Anyone following AUD/USD?
Looks like a valid setup for me. Let see how the trade develop.

CW

Hi,

I am also interested in the EA. I will do forward testing on a small live account.

Please send it to { email address deleted by staff }

Thanks

hi there,

if i get it right, u need a filter for the EA avoiding choppy times.

here's the suggestion, u can try applying RSI with 14 period Close. and use only level 56 and 44 for the RSI.

if the RSI is in between these 2 levels, tell the EA to avoid opening any post. while for buy definitely above 56 and below 44 for sell trigger in accordance to the Cornflower original rules.

this RSI thingy has been suggested by someone in this forexfactory forum. but i dont remember who. and please remember I am not the originator of the idea. please give credit to the deserved ones.

and i hope u your EA will be succesfull. thanks again.

The MAs are not properly line up according to the rule yet(MA 12 is greater than MA24). I am looking to short once the price break the lower trendline.

CW

Mango, thanks for sending the E A, but it didn't come through, maybe because I'm on G mail. I'll just wait until you can post it on the forum. We all appreciate your hard work.

I follow the A/U. Although it looks correct, I've found it better to wait, if it is going up, for a retrace so that all the MAVs are taking off in order once they have crossed the 72 and regrouped. It just seems a bit safer.
Cheers

I've got a bearish bias for this pair. I think angle is as important as order of MAVs. The H&S on weekly is stareing me in the face.

Although this meets the rules, it could be a sloppy inverse H&S. Also NFP today. I'm not going to trade it.