EMA 25-50 Trading System (Detailed)

What are the other parameters you use with it?
Ema period = 5;
Angle treshold = 2.2;

What about the Ema mode and the 2 shifts?

I'm glad it's working and that you started on a good day... sometimes having a bad start can be very discouraging, even in demo.

And the feedback is very appreciated... not knowing if others pay atention and find it usefull or with potential can sometimes make us question all our work in it

Keep testing!

First off , I would like to thank everyone involved with this thread....from page #1 to present page ....It has helped me make pips on a small scale which i am very greatfull for .... ( trading live )....i have modified it to suite my needs for a beginner trader ... i use a 30min window with a 21ema , take profit is 10-15 for my setting and a 30-35pip stop loss.......things are trading quite well for me with these setting for a beginner and a 2,000 account to open .... trade on mini. lots to start to grow my account , which is in the green because of all the hard work from everyone ....as things progress for me , and i get more comfortable with this EA... i will change to defalt settings ... untill then , Thank You All Verymuch for the time and effort ....may all Your Pips be in the Green.......

Ema mode=1 (exponential)
shift=0

Cool to see the system is working even without any more modifies!!!

Good work everyone and this is also realistic-counted!

I'm writing an EA for this system based on the indicators toni supplied. but I don't have time to read through the whole thread for the finer details.

please answer the follow so I can start on it..
How do you want the SL and TP levels to be derived?
What time frame do you want this EA to be run on (It should be able to work on all timeframe but I'm asking for the ideal TF for testing).

I have to finish this by this week as I'm away from 4th to 20th.

Thanks.

regards,
Zen

Great, these are all the details.

Signals:
place a long order at the opening of a new candle if the last hour has closed with:
RSI>60
MACD (Cross) [12,26,9] is green

if the these 2 conditions are respected, you have a third condition:
the opening of the new candle in which you have to place the long order has to be above EMA 25.

Now there's the last filter, the one toni invented:
Stochastic H4 5,3,3 has to be in a "long" position (the signal line has to be above the "normal" line)

for the short trade, very quickly
last hour:
RSI<40
MACD (Cross) [12,26,9] Red

"new" hour:
opening below EMA 25

Last filter by Toni:
Stochastic H4 5,3,3 in a short position (signal line below)

For both the positon SL and TP is always ATR. The original version used to leave SL/TP free to be a multiple of ATR but now I think we can use simply ATR (if everyone agree).
Anyway it would be great if you can leave SL and TP to be set in the EA as a multiple of the ATR as it is in the indicator.
The TimeFrame is H1

here you have all the indicators you need:
Macd Cross http://www.forexfactory.com/attachme...4&d=1213847575

Rsi colored http://www.forexfactory.com/attachme...7&d=1215114768

Stochastic H4 (set it to 240) http://www.forexfactory.com/attachme...6&d=1217301584

EMA (you already have it )

and the whole indicator is this http://www.forexfactory.com/attachme...5&d=1217301584

Sorry for my english and if you need something ask freely. Thank you very much for your disponibility in writing the EA.

I've been in contact with Zen_Leow since yesterday night, giving details to the buiding of the EA:

Zen_Leow,
Sorry for not having answered before (no use to do it now), but as I said yesterday in the thread, I'm very busy until tomorrow night, and then I leave for a long weekend - good thing you posted your doubts here, for others to answer;

Corre,
I think you said it all
Before I already explain him the openning lots, and closing profits method (TPx).

I would only add the exact input for Stochastic (I think in the EA it will be coded as in the Indicator), using iCustom:
iCustom(NULL, 0, "#MTF_Stochastic", 240, 5, 3, 3, 0, 0, 0, i+1);
iCustom(NULL, 0, "#MTF_Stochastic", 240, 5, 3, 3, 0, 0, 1, i+1).

See you all soon,
Toni.

is anyhody trading this system the riginal way ?
if yes in wich TF

alright I believe I have everything I need and will start working on the EA now. will post version 1 up once done.

oh btw, is there a certain time of day you want EA to run? and for how many hours? I'm working on GMT timezone.

another thing. if a valid sell signal occurs, would you wanna close off all currently opened buy positions? same for the reverse

Thank you very much for your efforts and disponibility.

1) about the hours: 24/24 for all the days of the week would be great.
2) Please pay attention to the fact that there can't be a Sell position while there's a long position already open.
The SL of the long position has to be reached, and then, the short position can start.
This comes automatic just following the system rules: SL and TPx are quite tight.
3) If forgot to explain the 4TPs thing, but Tonirai already explained you if I understood correctly.
4) I also forgot to explain you about the trailing of the SL at the BE when TP1 is reached and it keeps on trailing while other Take Profits are reached, did tonirai explain you all?
If you have some doubt do not hesitate to ask.

Thank you very much again.

thanks Corre for the prompt reply.

Toni has explained to me the 4TP thingy. and my approach to this is to have the EA open 4 positions each with a different TP according to its ATR multiplier. I'm doing this because I've read MT4 had issues with partial closing of positions, and also to allow some form of profit locking even when the EA isn't in operation due to connection issues, etc.

I've just finished writing the major portions of the EA. now coding in the Stop Loss management portion which may take a while cos I wanna get it just right.

I'll keep you guys updated.

regards,
Zen

this is a very important step, thank you very much Zeon.

Perhaps we have a problem there. It is that we can't have a single trade of 4 lots but 4 different trades of 1 lot.
and then when TP1 is reached you close 1 of this and set the SL of the remaining 3 at the SL is that correct?

Please remember that Metatrader doesn't consider spread in its "scripts" so be sure to include it, this is very important.

if every time we get TP1 and then we get stopped we are losing the spread for each of our 4 trades we're going to loss soon and often.

remember to consider spread in the money management, please.

edit: (it is also very important to have the 4 operations opened all at the same price, obviously. So they must be opened all at the same time, is that possible??)

Because spread is different for every pair and for every broker I would put it this way:

for a long trade
TP=Ask price+xATR+spread
SL=Ask Price-xATR-spread

and for a short trade
TP=Bid Price-xATR-spread
SL=bid price-xAtr+spread

with "X" and "Spread" free to be configured when we set the EA. It should be pretty easy to do. So we can arrange every pair with its spread every time

not to worry Corre, I always code breakevens to bring StopLoss level to the Order Open Price level.

speaking of spread, would you guys want spread to be added to the ATR value to get the initial stop loss?

e.g. for a buy of the 1st order.

Open Price is Ask
TP_level is Ask plus ATR (spread already taken into consideration as sell is in Bid)
SL_level is Ask - ATR - Spread

I always code like this but some people don't like it for reasons that baffles me.

I see we had the same idea

anyway yes, perfect
and remember to use the bid price for the short trades. cool.

And please if it is not a big problem leave a configurable "x" for the atr multiplier

can I just confirm if you guys want a multiplier for the SL's ATR too? or would it always be ATR * 1?

I know TP will definitely have multiplier ranging from 1 to 4.

mm no wait i think there's a misunderstanding.

Every hour ATR changes and we need to have a change in the SL and TP every hour.

the 4th TP has to be set as the ATR of the hour in which we reach TP3.

Then, if in the next hour ATR changes and TP4 is not reached, TP and SL change again in proportion to the new ATR.

This is VERY VERY important to lock the profits when the market becomes choppy and we have already reached several TPs. It is one of the rules of bollinger (the bandwidth thing I mean)

everything has its reason here

I have to go out now because my parents are coming home to see me.

I'll be back this evening, I hope!

hmm... that IS a big misunderstanding. After reading Toni's PM, I was under the impression that we only make changes to the SL levels and always in the increments of the ATR value when the trade(s) was first opened.

I'll have to rethink and work on how to get it to move the way you described. Its already night time in my timezone. looks like I won't be finishing this EA today after all.