EA request for Simple Daily System

Hello members,

I would like to share a system in hopes that one of our talented programmers here on FF will write an EA. This is a simple daily system with a somewhat unique approach on money management. Here are the details of the system:


Indicators:
1. 200 SMA (option to change period by user)
2. ADR - 50 pips or greater on the previous 10 days
3. PSAR - this can be optional to use with the SMA (user defined) that allows trades only to be taken when both indicators agree

R/R ratio: 1:1

Stop loss: (user defined) will be using 100 pips to include spread

Take profit: (user defined) will be using 100 pips after covering spread

Pairs:
All that have an ADR equal to or greater than 50 pips

Broker: Personal preference (will test using IBFX w/10K starting balance)

Money Management: Each contract will be equal to .1 lot. (option to change lot size per user)

Example using MM: To begin open 1 contract for each pair in the direction of the indicator(s). If a win is obtained, continue with 1 contract. If a loss is obtained in a given pair then increase 1 contract for the next trade. Continue to add 1 contract if consecutive losses. Once a win is generated after a loss reverse contract size by 1 until the contract size returns back to the beginning of 1 thus eliminating all the losing trades.

Exaple of opening a trade:

Long - at the open of a new candle if the previous candle is > 200 SMA (optional to add the PSAR and trade only when both agree)

Short - at the open of a new candle if the previous candle is < 200 SMA
(optional to add the PSAR and trade only when both agree)

Let the position run until either the take profit or stop loss is hit.

Here you go. I'm not sure how to add the ADR part in. It's an object-based indicator.

Thank you Ron.

Ron,

Does the EA perform the money management by adjusting the contract sizes after a loss/win or does this need to be manually adjusted?

Thanks,
Lcfx

Sorry, didn't notice the MM part. For now, yes it needs to be adjusted as I don't quite know how I'm going to do this.

I'll give it a shot. get back to you later.

Here's what I did up according to your rules. just to confirm, both your signals must occur in the previous bar yes?

EA inputs description

extern int EA_MAGIC_NUM = 275931;
extern int MA_Period = 200;
extern int MA_TYPE = MODE_SMA;
extern bool UsePSAR = true;
extern int ADR_Days = 10;
extern int Min_Range = 50;
extern int Start_Hour = 0;
extern int Start_Minute = 0;
extern double Slippage = 3.0;
extern int TakeProfit = 100;
extern int StopLoss = 100;
extern int LotSizeFactor = 1;
extern double Lots = 0.1;

most of those are just for signal's sake. what you need to take note is the Start_Hour and Start_Minute value. if say you open the EA in the middle of the day and you want it to Open a trade straightaway, key in the current hour and minute. note that these 2 values will be reset back to 0 automatically after the order is opened.. which means as long as you keep your EA running non stop, it will open subsequent orders at 00:00.

LotSizeFactor
This is very important, assuming you start running the EA and at friday, you've yet to breakeven (backtest shows this occurs a lot), I don't suppose you'll want your EA to keep running. you might wanna give your computer a break and shut it down.. the EA won't remember what is the last count. come to think of it, maybe I can get it to write the value to a file and have it retrieve the value when it fires up... but that's probably too much work to overcome something so simple. just look at your last trade's position size and do simple math and key in the value you want the EA to start with at that instance.

IMPORTANT
the increment and decrement of position size relies heavily on YOU setting your trade history listed from newest to latest (which is really the default setting). cos I programmed it to read from bottom up and find the latest trade to know if it was a profit or loss. so don't let your trade history be sorted in anyway else.

SDS_UMM stands for Simple Daily System - Unique Money Management.

p.s., backtest results doesn't look good.

Correct. I am going to be using the 200 SMA & PSAR.

Here's an example of how the money management works:

1st contract = .1 lot = win
2nd contract = .1 lot = loss
3rd contract = .2 lot = loss
4th contract = .3 lot = loss
5th contract = .4 lot = win
6th contract = .3 lot = win
7th contract = .2 lot = loss
8th contract = .3 lot = win
9th contract = .2 lot = win
10th contract = .1 lot = win

It's alive!!

There are some problems. It is taking trades on some pairs when the daily close is in between the PSAR and the SMA. Also, there are pairs were both conditions are met and no trades at all. Can a coder please look into the last EA posted and fix if possible.

Thank you,
Lcfx

lcfxtrader,

In order to code an EA properly, I need specific rules.

I think the EA is doing exactly what I want it to do. but please understand that a program only works according to how the programmer understand the requirements.

by default, I write all my EAs to open trade on the opening of a new candle by checking the previous candle for the signal unless the rules state otherwise.

also, by default, my EA will not open trade when there is already a trade currently opened for a previous signal and hasn't close out yet. unless again, the rules state otherwise.

that means, what this EA does is, it checks the previous candle for matching signal for either buy or sell, then opens the position at the start of the current candle. so by looking at the charts, if you see a buy or sell arrow on a candle that's showing what you think is a wrong signal, you should really look at the previous candle.

so... kindly elaborate on your rules.

btw, any problems with the dynamic position size?

regards,
Zen

p.s., if you can provide me with some screenshots of where you think a wrong trade has occurred, perhaps I can debug better.

Zen,

I will provide screen shots this evening for the "wrong trades" if any are entered.

Rules for opening a position:

Long at the open of the current candle when previous candle shows the following:

candle close is > SMA
PSAR is under the candle when closed

Short at the open of the current candle when previous candle shows the following:

candle close < SMA
PSAR is above the candle

I don't have any feedback for you regarding the position sizes. I will let you know.

Thanks for all your help.

Lcfx

Zen_Leow & lcfxtrader,

Zen_Leow you're comparing Low[1]/High[1] against iSAR[1], where it should be Close[1] against iSAR[1]...? Is this correct lcfxtrader?

lucidlamp

ps: For demonstration/study purposes, not to used for live trading/cash trading. Only to be run on Demo Account:

Attached File(s)

FF-EA-lcfxtrader_v0001.mq4   9 KB | 750 downloads

I thought he wanted the whole candle to be above or below the PSAR?

so... Low[1] higher than iSAR[1] would mean the whole candle is above the PSAR.

and High[1] lower than iSAR[1] would mean the whole candle is below the PSAR.

In my understanding, we should NEVER use Close[1] to compare with iSAR[1] because it may result in having a wrong signal even when iSAR[1] actually lies inside the previous candle instead of above or below it.

you know what i mean?

I will post a chart tonight and hopefully make it clear. It is very simple.
Closed candle is above the SMA and PSAR is under it then entry long on open of the next candle and just the opposite for a short.

Zen_Leow,

I don't...

Well I do...

I don't know what I mean myself half the time for that matter...

=)

I'm sure the charts posted by lcfxtrader will clarify for all...?

lucidlamp

Here is an example of the EA placing a short trade on the EUR/CAD which no trade should have been taken. The reason is because the candle did not close below the 200 SMA.

Example of a good trade. Candle closed above the 200 SMA. PSAR was under the candle.

Zen,

Let me know if you need anymore examples. Thank you again for working on the EA.

Thanks,
Lcfx

The money management appears to work after a loss increasing the position size. Will need to verify after a win to if it reduces it. See GBP/USD for the example.