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4HR 5EMA Expert Advisor

  • #1
  • First Post: Edited Oct 30, 2008 7:58am Oct 22, 2008 6:12pm | Edited Oct 30, 2008 7:58am
** Current Version 1.6 **
This EA is based on the rules in the 4HR5EMASystem post located at http://www.forexfactory.com/showthread.php?t=111623

This EA is still in the works so please feel free to say what you think may make the EA work better.

Things I do not want to do.

  1. Add more Indicators

Or the thing

If you find a problem with the EA please post a snapshot with a description of what is happening or what should be happening. Thanks

Settings
Please run this EA on the 4HR time frame and if backtesting with enough data to provide valid entry and exit points for the system.

CloseOrder - set to false when trading but in theory should beable to set this to true during live trading to close all open trades for shutdown. However, not tested.

Lots - Lots size

** Removed MaxRisk - Max Risk per trade ex. 0.02 only use 2% of account for purchase of lots.

PipsPastSignal - Pips past the signal High or Low to Initiate Reversal Bar Trade.

PipsPastSL - Pips past the Signal Bar for Buy/SellStop and the SL for that order.

PipsPastEMA - Pips past the EMA for a valid Signal Bar

EMAPeriod - The Period for the EMA

MAGICNUMBER - the Unique number for the orders of the EA

Attached File(s)
File Type: mq4 4HR5EMASystemV1.6.mq4   9 KB | 1,778 downloads | Uploaded Oct 29, 2008 10:42am
  • #2
  • Oct 23, 2008 9:39am Oct 23, 2008 9:39am
I have been recieving feedback that the rules are not being follow? If you notice this could you please post a snapshot with a description of the rule not followed. Please help make this EA profitable.

Thanks.
  • #3
  • Oct 24, 2008 5:04am Oct 24, 2008 5:04am
Hi!

Is your EA works on M1 Timeframe? I think testing low TF is the quickest testing method.

Unfortunately your EA is missing a lot of buying and selling opportunities; after testing period I will send You screenshots.

Than You
  • #4
  • Oct 24, 2008 9:38am Oct 24, 2008 9:38am
Oh sorry about that it needs to run on the 4 hr timeframe. With every tick being used.
  • #5
  • Oct 28, 2008 3:27am Oct 28, 2008 3:27am
Hi!

This is the first weird trade.

I think the first bar is a setup bar. The second is a reversal one. The setup bars high is 1,5473 so it is a buy at 1,5473+5=1,5478, but the ea is not buying at this point. The ea bought at 1,5554 (sell stop at 1,5197). I dont understand it.
The third bar is a setup bar again, ist high is 1,5703, the 5ema high is 1,5688. The next one is a reversal bar. It must be a short here but nothing happens.


Thank You
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr5ema.jpg Size: 323 KB
  • #6
  • Oct 28, 2008 3:41am Oct 28, 2008 3:41am
Hi!

This is a missing trade opportunity: the first bar is a setup bar and the second is a reversal but no trade.

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 4h5ema2.jpg Size: 330 KB
  • #7
  • Oct 28, 2008 8:23am Oct 28, 2008 8:23am
@ Sheenka,
Thanks for your help I think this fix will correct alot of problems.
Quoting sheenka
Hi!

This is a missing trade opportunity: the first bar is a setup bar and the second is a reversal but no trade.

Thanks
I think I found out what is going wrong here. My charts use and extra digit at the end so instead of having 0.5317 I would have 0.53178. I have changed the code to allow for this. If you have 5 digits or an extra digit like me you can just add a zero so instead of 5 it would be 50 for the pips.
Attached File(s)
File Type: mq4 4HR5EMASystemV1.5.mq4   9 KB | 860 downloads
  • #8
  • Oct 28, 2008 9:43am Oct 28, 2008 9:43am
Backtesting this version shows promise since it does not have any money management built in besides the risk management which seems to do more harm than good for this system as is.

I would like to get some input for a money management system that may help make this EA profitable.

I purpose that we use a lot size greater than 0.1 so we can close half the order at a certain amount gain. This will increase the overall drawdown but will offer overall better performance I believe.

If anyone else has some ideas feel free to share.
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTesterReport.gif Size: 9 KB
Attached File(s)
File Type: zip V1.5.zip   29 KB | 827 downloads
  • #9
  • Oct 28, 2008 6:05pm Oct 28, 2008 6:05pm
Hi,

I don't test EA for now, but take a look at source - it looks good - and have some comments.

1. It looks that You don't implement additional rules from post 1 4H5EMA thread (1 to 3).

2. In CheckForOpen() You calculate both ema every tick - it's not necessary , it's enough to calculate it once for 4H in something like his


if (Time[0]!=dtBarTime)
{ dtBarTime=Time[0];
emaHigh = iMA(NULL,0,EMAPeriod,0,MODE_EMA,PRICE_HIGH,1);
emaLow = iMA(NULL,0,EMAPeriod,0,MODE_EMA,PRICE_LOW,1);
}

dtBarTime should be datetime and emaHigh and emaLow should be global var in this case.

If You use only one EA it isn't problem but if You use many of it it's important to optimize terminal use - it should be faster in backtests too.

3. You make trade with market orders (except rev trade) it's ok but in fast market eg news , it could generate big slippage (terminal don't react as fast as brokers servers). It isn't big problem but one should remember this especialy when testing system (sterling use stop orders). Using Stop orders could be little more complicated.

Unfortunately I'm very busy now but hope I'll find some time to test this EA maybe tomorow.

I like this strategy and your job.

Regards,

Andrew

P.S. Sorry for english, it isn't my first language.
  • #10
  • Oct 28, 2008 6:44pm Oct 28, 2008 6:44pm
does it take some history before it gets a smiley face and the message in the upper left disappears..i have checked allow live trading etc...
  • #11
  • Oct 28, 2008 8:02pm Oct 28, 2008 8:02pm
Quoting Pipsnagger
does it take some history before it gets a smiley face and the message in the upper left disappears..i have checked allow live trading etc...
Yes it requires only five bars of history so that it has enough for the 5EMAs. Are you getting "Not enough History or Trade not allowed" in the upper left corner?

If you see more than five bars on the chart you shouldn't be getting that error? If you are then the problem might be with metatrader4. You might try removing the code
Inserted Code
   
if(Bars<5 || IsTradeAllowed()==false)
   {
     Comment("Not enough History or Trade not allowed");
     return;
   }
At the bottom in the MT4 editor.
  • #12
  • Oct 28, 2008 8:10pm Oct 28, 2008 8:10pm
Quoting Pipsnagger
does it take some history before it gets a smiley face and the message in the upper left disappears..i have checked allow live trading etc...
Also I just realized If your broker isn't allowing trading it will display that message as well. For example if it is after hours.
  • #13
  • Oct 28, 2008 8:35pm Oct 28, 2008 8:35pm
Thanks for making an EA. However, I have do have a question about the spread and wondering whether it would be better to use (Ask-Bid) instead of a fixed spread?
  • #14
  • Oct 28, 2008 8:39pm Oct 28, 2008 8:39pm
maxss280 thanks

i just have to give it a few more bars for Mr. Smiley to smile.
  • #15
  • Oct 29, 2008 8:38am Oct 29, 2008 8:38am
I casually applied the v2 copy of your EA on friday and by monday morning it has developed a 700 USD to 2,500 USD it placed orders on G/U, E/J and G/Y totalling to 2,500 USD.

but I discovered that it could not close the former positions when other new signal came.

but since I have applied the modified one i.e. v5 it has not placed a single order since yesterday.

pls check and lets know how far.

I cant wait to see this EA become profitable on real acct.

Maxss280 well done, I appreciate your effort.
John 3:16 - From THIS love no power on earth can me sever.
  • #16
  • Oct 29, 2008 10:39am Oct 29, 2008 10:39am
Quoting BullRun
Thanks for making an EA. However, I have do have a question about the spread and wondering whether it would be better to use (Ask-Bid) instead of a fixed spread?
Changes V1.6

  1. I have changed the spread to used the Ask-Bid which is the real spread price.
  2. Removed the Risk Management Feature (Usually caused more harm than good)
  3. Added Spread to the HUD

Thanks for the suggestion BullRun I think this will help on a live account.

Attached File(s)
File Type: mq4 4HR5EMASystemV1.6.mq4   9 KB | 869 downloads
  • #17
  • Oct 29, 2008 11:05am Oct 29, 2008 11:05am
@ Andrew
Thanks for your comments and I do think you have some valid points.

Reply
1. I didn't notice he was adding some lol I will try and include those rules soon.

2. Yeah I noticed that was an inefficient piece of code I didn't want to add another work around because I didn't know how to properly code it. I will use the code with the Time[0] that you showed me. Thanks for you help still learning MT4 language

3. Yeah converting the Market Orders over to Pending orders may require a bit of thought as to not break the logic. When I first wrote this the logic was completely different and the Market order is something that stuck around but it does need to be changed to a Pending order for the reason you specified.

Thanks again

Quoting Andrew_e
Hi,

I don't test EA for now, but take a look at source - it looks good - and have some comments.

1. It looks that You don't implement additional rules from post 1 4H5EMA thread (1 to 3).

2. In CheckForOpen() You calculate both ema every tick - it's not necessary , it's enough to calculate it once for 4H in something like his


if (Time[0]!=dtBarTime)
{ dtBarTime=Time[0];
emaHigh = iMA(NULL,0,EMAPeriod,0,MODE_EMA,PRICE_HIGH,1);
emaLow = iMA(NULL,0,EMAPeriod,0,MODE_EMA,PRICE_LOW,1);
}

dtBarTime should be datetime and emaHigh and emaLow should be global var in this case.

If You use only one EA it isn't problem but if You use many of it it's important to optimize terminal use - it should be faster in backtests too.

3. You make trade with market orders (except rev trade) it's ok but in fast market eg news , it could generate big slippage (terminal don't react as fast as brokers servers). It isn't big problem but one should remember this especialy when testing system (sterling use stop orders). Using Stop orders could be little more complicated.

Unfortunately I'm very busy now but hope I'll find some time to test this EA maybe tomorow.

I like this strategy and your job.

Regards,

Andrew

P.S. Sorry for english, it isn't my first language.
  • #18
  • Oct 29, 2008 11:27am Oct 29, 2008 11:27am
@ Kosomolate

If I remember correctly I think V1.2 had some logic errors that made it not follow the rules correctly. This could be what caused the orders not closing.

Quoting Kosomolate
I casually applied the v2 copy of your EA on friday and by monday morning it has developed a 700 USD to 2,500 USD it placed orders on G/U, E/J and G/Y totalling to 2,500 USD.

but I discovered that it could not close the former positions when other new signal came.

but since I have applied the modified one i.e. v5 it has not placed a single order since yesterday.

pls check and lets know how far.

I cant wait to see this EA become profitable on real acct.

Maxss280 well done, I appreciate your effort.
  • #19
  • Oct 29, 2008 3:00pm Oct 29, 2008 3:00pm
remove the EA version that is no longer valid i.e. the v2 and v.5 so that we would have same EA and same result, this is to prevent confusion.

pls do this as you update the EA, currently the valid new version is v6

good work
John 3:16 - From THIS love no power on earth can me sever.
  • #20
  • Oct 30, 2008 2:45pm Oct 30, 2008 2:45pm
the 1600 candle has closed and it qualified as a set up bar, and there was a G/U short trade that the EA placed.

If this EA is working with the rules sterling set then:
I expect the EA to close the previous short position and open the long position but it did not do anything

so friend look into this LOGIC very well
John 3:16 - From THIS love no power on earth can me sever.
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