High & Low 8 Hours (GBP/JPY)

Quoting saaedb

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EA has to be connected to the internet 24/7 to open and manage the trades. If you can't keep your computer on all the time. I'm sure you can find some service were you can host the EA.

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Quoting Fx97

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So, I guess I understand how EA works however just would like to get your confirmation ( with the assumptions that you have internet connection whenever your computer is on, and RangeEnd time is 2 GMT)

1) Your MT4 needs to be open in order to EA place sell and buy orders just after 2 GMT ( but if your computer is on however not your MT4 open, what is gonna happen?) Nothing. You have to have your computer connected to the internet AND your MT4 open AND the ea attached to a chart.

2) if you turn off your computer at the time that none of the orders become market order yet, say @ 2:30 GMT. And keep it off for the next 12 hours. So, with these assumptions is EA gonna execute any of these orders if any of them become market order within next 12 hours? The ea will do nothing unless you are connected to the internet and\or your MT4 is not running. The unsupervised pending orders will become market orders if the price hits the trigger because these orders are held by the broker, not by your computer.

3) With the assumption that your answer is "yes" to my second question ( I bet you will say no), if one of the order becomes market order,is EA gonna delete (cancel) non market order as it is supposed to do? Only if you have your computer connected to the internet AND your MT4 open AND the ea attached to a chart.

4) Again, with assumption that all your answers are "yes" so far, is reset going to work as usual? Only if you have your computer connected to the internet AND your MT4 open AND the ea attached to a chart.

5) In order to EA work properly which one is true:
your MT4 has to be on (open) all the time (you have internet connection)
your computer has to be on all the time (you have internet connection) Both for certainty. You can have the computer shut down during those hours the ea would not be trading.

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Quoting SteveHopwood

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I will save saaedb the trouble of answering - he does enough for us all to deserve a helping hand. I have put the answers after each question, within the quotes.

Clearly you are new to all this, and as confused as I was about 12 months ago. You will run the ea on a demo account before going live, won't you? You really need to find out how everything works before risking actual cash.

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Quoting Fx97

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So, I guess I understand how EA works however just would like to get your confirmation ( with the assumptions that you have internet connection whenever your computer is on, and RangeEnd time is 2 GMT)

1) Your MT4 needs to be open in order to EA place sell and buy orders just after 2 GMT ( but if your computer is on however not your MT4 open, what is gonna happen?)

2) if you turn off your computer at the time that none of the orders become market order yet, say @ 2:30 GMT. And keep it off for the next 12 hours. So, with these assumptions is EA gonna execute any of these orders if any of them become market order within next 12 hours?

3) With the assumption that your answer is "yes" to my second question ( I bet you will say no), if one of the order becomes market order,is EA gonna delete (cancel) non market order as it is supposed to do?

4) Again, with assumption that all your answers are "yes" so far, is reset going to work as usual?

5) In order to EA work properly which one is true:
your MT4 has to be on (open) all the time (you have internet connection)
your computer has to be on all the time (you have internet connection)

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Quoting SteveHopwood

Disliked

I will save saaedb the trouble of answering - he does enough for us all to deserve a helping hand. I have put the answers after each question, within the quotes.

Clearly you are new to all this, and as confused as I was about 12 months ago. You will run the ea on a demo account before going live, won't you? You really need to find out how everything works before risking actual cash.

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Quoting saaedb

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For you question 5 which is divided in two parts. My question to you is, how can you have your MT4 open and not your computer at any given time?

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Quoting m7mad.a

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Hi

I'm using FXDD
can you please give me the latest EA with the best settings for the timings and range
and is the range considered fixed
thanks

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Quoting SteveHopwood

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I think the following are the settings used by everyone here. I know the GJ settings are correct, as they are the ones set out in Nico's original posting and issued as defaults with saaedb's ea. I have used them live, with success. The settings for GJ and EJ are still a bit experimental, but they have been doing well on the demo accounts.

The RangeStart and RangeEnd settings might need changing, according to your broker's time. I am lucky in that my broker is on GMT, as I am so I do not have to deal with that complication.

GJ
SL: 50
TP: 100
RangeStart: 18
RangeEnd: 2
MaxRange: 300

EJ
SL: 40
TP: 40
RangeStart: 21
RangeEnd: 5
MaxRange: 80

GU
SL: 40
TP: 40
RangeStart: 23
RangeEnd: 7
MaxRange: 80

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Quoting Fx97

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With all my respect to you and your contribution to this thread, do you think that even someone in this thread who has asked zillion times about time frame for this system will ever think that opening MT4 will be possible without turning on your computer? There is no logical mistake there. Here is same question, even though I got my answer, in more clear way

5) In order to EA work properly which one is true:
your computer and your MT4 has to be on (open) all the time (you have internet connection)
only your computer has to be on all the time (you have internet connection)

(this all depends on the architecture of the software, software could be able to activate your EA when you have your computer on and internet connection. In my mind, software should be sophisticated enough to run your EA even your computer is off by running everything in broker's server. I know that it is not rocket science, however if MT4 was structured this way I am sure there are reasons behind this selection)

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Quoting maestr2

Disliked

In the attachment section, there is one called the box that draws a box with high and low as its parameters, works well once proper settings inputted,

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Quoting saaedb

Disliked

If you're using IBFX, then you dont need to change anything ont he EA. Just attach it to the charts.

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Quoting saaedb

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OK! I'm not going to argue over this.

But, if you want to run your EA regardless if your computer being on or not, get a service that will run the EA on your account 24 X 7.

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Quoting Tmac

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i am using ibfx and when you say leave it alone and just attach it to the charts but the settings recommended are range start 18 and 2 for GJ
21 and 5 for EJ and 23 and 7 for GU

are these correct for IBFX then or should all these be 18 and 2??

the TP SL and the rest I am ok with but these have me a bit confused

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Quoting saaedb

Disliked

GJ 18 - 1
EJ 21 - 5
GU 23 - 7

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Quoting Oksana17

Disliked

If close in S/L open again the stop orders.

what does that mean?
If a stop loss is hit, then trade the same direction with the same stop and take profit? Or what? Yes. That is exactly what you do according to this strategy. A market might move in one direction then abruptly retrace to the sl. It might then resume moving in the original direction and result in profit eventually. This is all to do with the way in which prices move in waves. You can do all this manually, although the ea makes life much easier.
If a buy order has been hit, then a sell signal comes, do I sell? As I understand it, you should cancel the sell orders when a buy has been hit. Others here will but in if I have misunderstood, I hope.
What time is it on EST?????????? GMT-5? Not sure.

thanks to whoever will answer

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