Making an EA: "Simple Method of Scalping any pair by Imran Sait"

Quoting 4XWeezal

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1. Step one. Find a "suspect" strategy.. Ie unknown entries and exits.
2. Step two. Get 5 trader (maybe 7-10) together to develop a great ea
3. Step three. Concentrate on Money managment and programming techniques instead of win ratio. Actually, setup a private forum
4. Step four. Spend about 2 months programming with only about 2 members contributing and the other 3-5 not being engaged
5. Step five. Spending too much time building a consensus and then have one programmer hoard ideas. "prove that this technique works.." up yours buddy!
6 Step six.. P' off the moderator or the programmer and close the forum.
7. Go back to learning your own method. - Time wasted - 4 months.

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Quoting zaxmarki

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Hi guys, I'm not a coder or any type of programmer, but I was wandering if you could use NeuroShell Trader 5 in this project, which I would be willing to contribute in the interest of your success?

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Quoting azizk20

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I agree with fxscalp that EA should be customisable to adapt to different conditions and to suit personality of trader and also it should open multiple lots at a time with different take profit tragets so that some profits can be locked in if the market move against us after going in our favour. Stop loss can be invisible, the EA should monitor the open trades and when necessary should activate the stop loss.

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Quoting Fxscalp

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Excellent suggestion, I find that a lot of my manual trade targets are not reached when scalp trading and to combat this we look at price action but when auto trading sophisticated money management is of much higher importance. SL and TP could be programmed to be invisble as you say. The TP tragets can be reached by increasing volume on strong trades with multiple trades while preparing for closeout before reversal. I have an EA that does similar and it scalp trades as well as trends, I think it helps limit risk.

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Quoting 4XWeezal

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Not a pessimist, I just see these things go nutso. It starts with "multiple lots based on volume" and "invisible stop losses" and things go wild from there. Already the question I am wondering about the method is this a 5mn scalp or a 3 day ea? --sorry to upset the gogetters....
I can supply you a whole list of ea's and indicators that do all sorts of stuff.
I think I went through every one of them. ---But you gotta put it together and I don't think this system does it.
Too many slow, false entries and no exits. ...yikes.!
http://www.forexmt4.com/_MT4_Experts/
http://www.elcactus.com/

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nt start()                       // Special function start()
  {
   double M_0, M_1,               // Value MAIN on 0 and 1st bars
          S_0, S_1;               // Value SIGNAL on 0 and 1st bars
//--------------------------------------------------------------------
                                  // Tech. ind. function call
   M_0 = iStochastic(NULL,0,5,3,3,MODE_SMA,0,MODE_MAIN,  0);// 0 bar
   M_1 = iStochastic(NULL,0,5,3,3,MODE_SMA,0,MODE_MAIN,  1);// 1st bar
   S_0 = iStochastic(NULL,0,5,3,3,MODE_SMA,0,MODE_SIGNAL,0);// 0 bar
   S_1 = iStochastic(NULL,0,5,3,3,MODE_SMA,0,MODE_SIGNAL,1);// 1st bar
//--------------------------------------------------------------------
                                  // Analysis of the situation
   if( M_1 < S_1 && M_0 >= S_0 )  // Green line crosses red upwards
      Alert("Crossing upwards. BUY."); // Alert 
   if( M_1 > S_1 && M_0 <= S_0 )  // Green line crosses red downwards
      Alert("Crossing downwards. SELL."); // Alert 
 
   if( M_1 > S_1 && M_0 > S_0 )   // Green line higher than red
      Alert("Continue holding Buy position.");       // Alert 
   if( M_1 < S_1 && M_0 < S_0 )   // Green line lower than red
      Alert("Continue holding Buy position.");       // Alert 
//--------------------------------------------------------------------
   return;                         // Exit start()
  }
//--------------------------------------------------------------------

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I certainly agree on some of those points you have now made clear for us. I know that lag is an issue and also that execution of trades, programmers are also aware of this situation as they are well experienced in their field and will make sure this is limited or prevented completely by implementation of rules for this. The statement I am attaching shows that there are problems with these trades, and this is what we need to avoid, unnecessary drawdown and losses. The final bot is not limited to one sole strategy in any case.

Quoting Fxscalp

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I certainly agree on some of those points you have now made clear for us. I know that lag is an issue and also that execution of trades, programmers are also aware of this situation as they are well experienced in their field and will make sure this is limited or prevented completely by implementation of rules for this. The statement I am attaching shows that there are problems with these trades, and this is what we need to avoid, unnecessary drawdown and losses. The final bot is not limited to one sole strategy in any case.

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Quoting Yas1r

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Hi there

I trade using imrans system, i am no expert in how you write an EA but i think it would be either very hard or if not impossible to write an EA as there are so many variables to the system,

here are a few points you may wish to look at to see if it is possible

1. the lags - not only the cross above and below either 0.15 0.45 and 0.85 , but you will need the signal on all time frames 1 5 15 30 1h 4h etc as all the time frames work together for the big moves, also program both lags with red having priority over the blue lag

1. EMA's -these are very important to the system and they have to be monitored on all time frames again as they are the key to where the price may turn or be at support and resistance levels, also you have to see on all time frames which off the 60 and 200 ema's have crossed to which side etc

1. Pivots - Also very important for s/r levels as well as entry and exit levels

All other indicators should be possible for you like the MACD , stoch histogram but the key to making this system work is where you enter as we only use a 25 pips stop this would be very hard using an EA

If however you would like to make an EA based on just aiming for 25-30 pips at a time with a risk reward 1:1 ratio and aim for a 80% success rate that i would say maybe possible using the 1 5 and 15 min timeframes and minimal indicators if this is what you are after let me know i will try to help as much as i can in regards to what you need to programme

Regards

yas

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