Part Time Wealth Building System - "Open-Close Trending"

Quoting james275

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Dial, Can you tell me what you mean? There is much of what FxN said that is correct but i do not agree about how these kinds of systems do not work. Have been trading something very similiar to this for a substantial while, and it works very well. Very, very well.

Just confused from your statement.

Thanks...

Jim No

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Quoting diallist

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What I was agreeing with was the caution that FxN was expressing. I do not agree that crossover systems don't work. They can work very well, but one has to use their brain. (I get weary of all the good folks who think silly indicators can solve everything). For example, Jim (james16) showed me a technique that, when applied to a simple moving average crossover system, made it into a reliable strategy.

As to my comments about this method having similarities to the horribly failed system I used to trade, they still hold true. But, to go a bit further, this system is also similar to the Vegas 1 hour tunnel method, which is a good system.

In the end, all FxN and I are saying is to exercise caution, and reasonable judgement when evaluating this system. Will it be like the horrible system, or the Vegas method? Only time and critical evaluation will reveal that. Personally, after looking at it a bit more, I think it has potential if traded with discretion and common sense.

Thanks for asking.

Dial

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Quoting tkimble

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6. Use 50 PIP STOP
7. Adjust the LONG and SHORT market entry orders as the Moving Averages change.
Happy Trading,

TK

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Quoting mlollar

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Questions:

1. What would the 50 pip stop be from? Away from the opposite LWMA? (e.g. if long, 50 pips below the High LWMA?)
2. No TP?
3. Best used on large ranging pairs?

Thanks,
Mike

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Quote

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//+-------------------------------------------------------------------+
//| Hi Lo Moving Average EA |
//| Based on: Moving Average.mq4 |
//| Copyright 2005, MetaQuotes Software Corp. |
//| http://www.metaquotes.net/ |
//+------------------------------------------------------------------+
#define MAGICMA 20050610

extern double Lots = 0.1;

extern double MAPeriod = 50;
extern double MAShift = 0;

extern double StopLoss = 0;
extern int Slippage = 5;
//+------------------------------------------------------------------+
//| Calculate open positions |
//+------------------------------------------------------------------+
int CalculateCurrentOrders(string symbol)
{
int buys=0,sells=0;
//----
for(int i=0;i<OrdersTotal();i++)
{
if(OrderSelect(i,SELECT_BY_POS,MODE_TRADES)==false) break;
if(OrderSymbol()==Symbol() && OrderMagicNumber()==MAGICMA)
{
if(OrderType()==OP_BUY) buys++;
if(OrderType()==OP_SELL) sells++;
}
}
//---- return orders volume
if(buys>0) return(buys);
else return(-sells);
}

//+------------------------------------------------------------------+
//| Check for open order conditions |
//+------------------------------------------------------------------+
void CheckForOpen()
{
double maHI;
double maLO;
int res;
//---- go trading only for first tiks of new bar
if(Volume[0]>1) return;
//---- get Moving Average

maHI=iMA(NULL,0,MAPeriod,MAShift,MODE_LWMA,PRICE_HIGH,0);
maLO=iMA(NULL,0,MAPeriod,MAShift,MODE_LWMA,PRICE_LOW,0);
//---- sell conditions
if(Bid <= maLO)
{
res=OrderSend(Symbol(),OP_SELL,Lots,Bid,Slippage,StopLoss,0,"",MAGICMA,0,Red);
return;
}
//---- buy conditions
if(Ask >= maHI)
{
res=OrderSend(Symbol(),OP_BUY,Lots,Ask,Slippage,StopLoss,0,"",MAGICMA,0,Blue);
return;
}
//----
}
//+------------------------------------------------------------------+
//| Check for close order conditions |
//+------------------------------------------------------------------+
void CheckForClose()
{

double maHI;
double maLO;
//---- go trading only for first tiks of new bar
if(Volume[0]>1) return;
//---- get Moving Average

maHI=iMA(NULL,0,MAPeriod,MAShift,MODE_LWMA,PRICE_HIGH,0);
maLO=iMA(NULL,0,MAPeriod,MAShift,MODE_LWMA,PRICE_LOW,0);
//----
for(int i=0;i<OrdersTotal();i++)
{
if(OrderSelect(i,SELECT_BY_POS,MODE_TRADES)==false) break;
if(OrderMagicNumber()!=MAGICMA || OrderSymbol()!=Symbol()) continue;
//---- check order type
if(OrderType()==OP_BUY)
{
if(Bid <= maLO) OrderClose(OrderTicket(),OrderLots(),Bid,Slippage,White);
break;
}
if(OrderType()==OP_SELL)
{
if(Ask >= maHI) OrderClose(OrderTicket(),OrderLots(),Ask,Slippage,White);
break;
}
}
//----
}
//+------------------------------------------------------------------+
//| Start function |
//+------------------------------------------------------------------+
void start()
{
//---- check for history and trading
if(Bars<100 || IsTradeAllowed()==false) return;
//---- calculate open orders by current symbol
if(CalculateCurrentOrders(Symbol())==0) CheckForOpen();
else CheckForClose();
//----
}
//+------------------------------------------------------------------+

Quoting mlollar

Disliked

Sorry about the questions. I just got to the email today and didn't realize I was coming into the middle of a conversation.

Anyone try to make an MT4 EA out of it yet? Skyline? I saw you were here.
Mike

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Quoting tkimble

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The following system is has by far been the most profitable system for me. It has captured 1700 GBP/JPY PIPS in the last two weeks through today.

Rules are likewise very simple but unlike the daily and weekly scalping systems, this system follows the trends:

1. Create 60 minute GBP/JPY bar chart
2. Create a 50 Period HIGH Linear Weighted Moving Average
3. Create a 50 Period LOW Linear Weighted Moving Average
4. Place LONG market entry order at the HIGH Moving Average
5. Place SHORT marekt entry order at the LOW Moving Average
6. Market entries occur at the exact moment that the price hits the market entry orders.
6. Use 50 PIP STOP
7. Adjust the LONG and SHORT market entry orders as the Moving Averages change.
8. Market can get choppy during transition from LONG to SHORT and vice versa.

That is it. Very simple. This system can be adapted to other markets but with smaller or larger Moving Averages.

Below is the current chart that I am trading from and I am currently up 320 PIPS today. Combine this system with the money management system and you will have a sure winner...

Happy Trading,

TK

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Quoting smartrends

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For the new traders like me, it's worth knowing the fundamentals that moves EUR/USD to start with, and them we can go for other currencies. Please post your valuable opinions.

Ignored

Quoting 4xMaster

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Hi All,

Here is an EA for tkimble's High-Low method.

It showed VERY GOOD results on the GBP/JPY, and not so good results on GBP/USD.

Please try it and post any comments or notes you might have.

Regards

Ignored

Quoting schoe

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This system has absolutely nothing to do with fundamentals or EUR/USD you need to put your post elsewhere.

Ignored

Quoting wackena

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Attached is EA based on a variation of the tkimble method in this thread in using 2 Moving Average indicators. One for High price and one for Low price.

1. The Hi/Lo MAs has Period, Method & Price as inputs. This allows testing of MA variations.

2. Buy entry in on 2 variables. Current MA is higher than previous bar (indicating uptrend) and previous bar Low{1} is higher than current MA Hi. Sell entry is Current MA is lower than previous bar (indicating downtrend) and previous bar High[1] is lower than current MA Lo.

3. Buy exit is when current Low[0] is lower than MA Lo. Sell exit is when current High[0] is higher than MA Hi.

3. Stoploss is auto set to MA Lo for buys and MA Hi for Sells.

You should not put a lot of credence to backtests results. For me, Demo testing has been the only reliable results. I plan to start Demo testing this EA today.

For your critique, attached are 3 months backtest for gbpjpy, eurjpy and gbpusd with $10,000 deposit and Lot size set with Money Management on 5% of equity. It seems to indicate a preference for gbpjpy, but eurjpy and gbpusd had positive 3 months results.

gbpjpy - profit = $18,630
eurjpy - profit = $ 6,377
gbpusd - profit = $ 1,507

As stated in this thread, this method prefers long trending pairs. To maximize results, I ran optimization test. Attached is set files I used for each pair tested.

I hope the EA works near the same in demo.

Have fun. As usually, the enduser assumes full liability for this EA's performance.

Wackena

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