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1 Hour Tunnel EA

  • #1
  • First Post: Edited Feb 7, 2010 4:34pm Nov 29, 2008 4:43pm | Edited Feb 7, 2010 4:34pm
Hi,
to backtest the Vegas's tunnel method I created expert advisor for MetaTrader.
Here I give my 1 Hour Tunnel EA for free to everybody to test it, improve it or use it.

EA has four settings:
minTunnelInPips - this is minimal height of tunnel in pips. if tunnel height in pips is equal or more than value set this setting is ignored. If tunnel is less, the EA will spread the tunnel to match setting. I reccomend 21 or 34.
unitsPerOrder - how many units yuu want to open. this equals to how many fibs you want to reach. I recommend 5. allowed values are 1-5.
onlyOnEMA12Filter - if set to true, EA will initiate position only if 12 ema filter gives signal
moneyManagementInPercent - money manaement you want to use. This means how many % of you account are you willing to lose per order. I recomment 2 - 4 %

I created this EA for (back)testing only. Do not use it on real account! If you do, you're doing it at your own risk!

Cheers,
Michal
Attached File(s)
File Type: mq4 1 Hour Tunnel EA.mq4   6 KB | 1,507 downloads | Uploaded Dec 1, 2008 7:22am
  • #2
  • Nov 29, 2008 4:53pm Nov 29, 2008 4:53pm
GBPUSD, data from 1st of July to 28th of November 2008, modelling quality 69%:

Started with $10000 account and using default settings EA finished with
account of size $20852.

Started with $10000 account and using default settings except money management which was set to 4% EA finished with account of size $42409.

Started with $5000 account and using default settings EA finished with
account of size $12346.

Started with $5000 account and using default settings except money management which was set to 4% EA finished with
account of size $26823.
  • #3
  • Nov 29, 2008 5:42pm Nov 29, 2008 5:42pm
Quoting michal7
Started with $5000 account and using default settings except money management which was set to 4% EA finished with
account of size $26823.
Thank you very much for offering this EA for testing. I'm not much
for backtesting, so will forward-test. Have you done any forward
tests, at all?

Rob
  • #4
  • Nov 29, 2008 6:10pm Nov 29, 2008 6:10pm
thank you for sharing your EA.
I will test it and post the result later.
maison
  • #5
  • Nov 29, 2008 6:19pm Nov 29, 2008 6:19pm
"minTunnelInPips - this is minimal height of tunnel in pips. if tunnel height in pips is equal or more than value set this setting is ignored. If tunnel is less, the EA will spread the tunnel to match setting. I reccomend 21 or 34.
unitsPerOrder - how many units yuu want to open. this equals to how many fibs you want to reach. I recommend 5. allowed values are 1-5."


Please explain how you calculate tunel height in pip.

Do you have a charts to show us ?
Thanks
maison
  • #6
  • Nov 30, 2008 2:56am Nov 30, 2008 2:56am
Tunnel height is absolute value of difference between 169ema and 144ema.

So if 144ema is 1.5400 and 169ema is 1.5415 then it's -0.0015 and absolute value of that is 0.0015 so current tunnel height is 0.0015.
If minTunnelHeightInPips is set to 21, it is multiply by point value, which in case of GBPUSD pair is 0.0001 so it's 0.0021. Now 0.0015 is less than 0.0021 so difference is 6 pips, so I need to spread the tunnel by 6 pips, 3 on each side so I just set 144ema to 1.5397 and 169ema to 1.5418 and initiate positon only if this values are crossed.

Hope this clarify it for you, I'm not good at explaining things to others :-)
  • #7
  • Nov 30, 2008 9:43am Nov 30, 2008 9:43am
To maison: I don't see how chart will be helpful, EA doesn't draw anything on the screen. You can draw tunnel on chart by yourself, or I can attach my 1 hour tunnel template if anyone is interested.

To ChicagoRob: I finished EA last weekend and I'm running it on my demo account since Monday. It made some very nice profit on Tuesday when it hit 5 fibs in few hours. Btw. I think backtesting is very important when one wants to evaluate any method. It gives you at least rough idea of how method is doing and also you may see some patterns and make some statistics which may help you better use method. Of course every method should be also forward test for a reasonable period of time before used in real account.

Thanks everyone for input.
  • #8
  • Dec 1, 2008 6:03am Dec 1, 2008 6:03am
Hi all. I thought I'd give this a try since I use to trade the vegas system a while back. I do not believe in trading on a demo account so I am trying this on a live testing account I have. So far it resulted in two trades. It bought GU at 1.5277 and hit SL at 1.5240 for a 37 pip loss. Then it sold at 1.5237 and its still open right now for about 200 pips. I'm not sure why it didn't take profit at certain levels like it does when using strategy tester, but I'll leave the trade open for a while until I figure it out. More later.
  • #9
  • Dec 1, 2008 6:16am Dec 1, 2008 6:16am
Hi TheDirtySerb,

I'm sorry to hear that EA doesn't work on real account It should have closed parts of position at 1.5198, 1.5163, 1.5104 and 1.5015.
Can you see anything in in Journal tab? Any errors or notifications?

Personally, I haven't had courage so far to run EA on real account, I just think one can better execute method manually. I created this EA only to backtest 1 hour tunnel with various setting.

But if you have data back more than 1st of July 2008 I would be very happy if you could run tester with it since january or even july of last year and post your results. I have data only from 1st of july to now.

Also it opened long position because price got into tunnel but only by 2 or 3 pips, I changed EA so that price has to be in tunnel at least 5 pips to be considered valid.

Thank you for your post, please post any errors or anything suspicious you can see in journal.
Attached File(s)
File Type: mq4 1 Hour Tunnel EA.mq4   6 KB | 739 downloads
  • #10
  • Dec 1, 2008 6:27am Dec 1, 2008 6:27am
Btw. on my demo account it went long at 1.5271 and hit SL at 1.5246 so it made loss of 25 pips instead of 37 pips on your real account.
There's gotta be some catch. The code allows 5 pips deviation from current price when sending orders, maybe price was moving too fast and 5 pips deviation was not enough. I have no idea what happens when broker requote price. But EA should have closed at fib lines. Please use my 1 hour tunnel template that is attached so you can also check visually.
Attached File(s)
File Type: tpl 1 Hour Tunnel.tpl   2 KB | 843 downloads
  • #11
  • Dec 1, 2008 6:42am Dec 1, 2008 6:42am
Quoting michal7
Hi TheDirtySerb,

I'm sorry to hear that EA doesn't work on real account It should have closed parts of position at 1.5198, 1.5163, 1.5104 and 1.5015.
Can you see anything in in Journal tab? Any errors or notifications?

Personally, I haven't had courage so far to run EA on real account, I just think one can better execute method manually. I created this EA only to backtest 1 hour tunnel with various setting.

But if you have data back more than 1st of July 2008 I would be very happy if you could run tester with it since january or even july...
Nothing in the journal suggesting errors, but I think I have the answer. My area lost power for several hours last night and my charts were down I believe. This probably caused the ea to stop working because the charts must be open for ea to work. so we'll see how it goes next time, will let you know.

I backtested over the weekend back from Dec 1, 2006 to present and the results were pretty good. First 3 months of the year or so were pretty bad but it gets better after that.

You can download history for GU by going to tools / history center. If its up to date and gives you a message saying its up to date, just scroll back using the page up key. Make sure the auto scroll is off and then when it gets back to older data just keep pressing page up and it will download new data for your charts. You can go back a long long way. Also not sure if it matters but open tools/options then make sure your bar history is all the way up. I think by default its set to 512000 and change max bars to 512000 and see what happens. This may be a better way to do it then just doing page up, so try it and see.
  • #12
  • Dec 1, 2008 6:45am Dec 1, 2008 6:45am
Dear TheDirtySerb,
I suggest you to close 4/5 of your opened position now, because if EA worked correctly it woul already be closed. Also you may want to set TP on remaining position to 5th fib which is now around 1.4866.

Remember, I created this EA for (back)testing only! You're using it on real account at your own risk!
  • #13
  • Dec 1, 2008 6:51am Dec 1, 2008 6:51am
Quoting TheDirtySerb
Nothing in the journal suggesting errors, but I think I have the answer. My area lost power for several hours last night and my charts were down I believe. This probably caused the ea to stop working because the charts must be open for ea to work. so we'll see how it goes next time, will let you know.
Well this could explain why portions of position was not closed, however if EA was not working it wouldn't open a position so it still looks like position closing is not working on your real account. Does your broker allow to close only part of position? What is minimal position size?

btw. have you try my template?

Thanks for sharing!

PS: does anybody have any idea why this thread was moved to Rookie section?
  • #14
  • Dec 1, 2008 7:16am Dec 1, 2008 7:16am
Quoting michal7
Well this could explain why portions of position was not closed, however if EA was not working it wouldn't open a position so it still looks like position closing is not working on your real account. Does your broker allow to close only part of position? What is minimal position size?

btw. have you try my template?

Thanks for sharing!

PS: does anybody have any idea why this thread was moved to Rookie section?
LOL, hey don't worry about me trading on a real account, I won't hold you to anything if I lose. I have this account that trades micros for testing purposes only. I think the feeds on a demo are not as accurate, you don't experience the spread increases at volitile times, etc. By the way since we are in a rookie room, my advice to the newbie's is if you do only have a small amount of capital but you want to trade live, start small with micro lots or even a fraction of a micro, just to gain experience and not lose your shirt. Believe me, been there done that.

Yes I did close that position for a nice 203 pip win, and yes I can close part of a position, but close the whole thing anyway until I know it wasn't just the power outage I experienced. See Michael, the system made me money, no worries, lol. More later.
  • #15
  • Dec 1, 2008 7:19am Dec 1, 2008 7:19am
by the way, I would contact the moderator to see why the thread moved, I don't believe it should be in the rookie discussion.
  • #16
  • Dec 16, 2008 6:42am Dec 16, 2008 6:42am
Are You still trading the system live?
  • #17
  • Feb 15, 2009 12:01am Feb 15, 2009 12:01am
I made a few changes to this sistem.Please let me know your thoughts or ideas.
Thank you Vegas for tunnel method.
Attached File(s)
File Type: mq4 1.2 Hour Tunnel EA.mq4   6 KB | 843 downloads
  • #18
  • Feb 18, 2009 5:53pm Feb 18, 2009 5:53pm
hello, doesn't work on my account, what I have to do?

thanks
iopoipoi
  • #19
  • Mar 30, 2009 3:00am Mar 30, 2009 3:00am
please, my EA does not close out on the fib levels. Can you help me out Michal?
  • #20
  • Last Post: Mar 30, 2009 4:05am Mar 30, 2009 4:05am
Quoting fkwentoh
please, my EA does not close out on the fib levels. Can you help me out Michal?
Hi, sorry I don't know how to fix this. It works on my demo account and people report that it doesn't work on live account. Really can't fix it if it works on my computer... I'll try to reproduce it. Let you know if any success...
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