FX 1M Bounce system

hello samer960,

the template was uploaded by dan johnston just a few pages before in this thread.
u dont have to place the indicators, its all done in dan's template.

greets,
tex

Hi guys.

Remember that I'm fairly new to all this too, but let me try to help as best I could.

On post #497 you will find the ea, and two indicators (The first two are the indicators)
Put indicators in the experts/indicators folder of mt4 and put the last file (v106) in the experts folder.

From there, all you have to do is open mt4 and drag and drop the ea to any template (or plain 15m chart) you want. It should call up the indicators even if you don't actually have them dragged to your chart.

If you like the latest template that I uploaded, go to post #501 and put the template file in the metatrader/templates folder, and the indicators in same place as the actual ea indicators as per above.
This specific template will actually contain (automatically drag and drop) the actual ea (v106) from Siobi's post #497, but you have to go through the above steps - putting the ea in the correct folder first as above.

Remember that this is just a template that I have gotten used to and doesn't by any means imply that it is good or otherwise. Use whatever template that allows you to understand priceaction best. As a matter of fact, when Siobi posts next he may very well have another template to use.

Any problems please post and we'll all help.

Cheers all!!!

Hi Dan ,
Would you mind if you would briefly explain your strategy and set up of the charts / pairs and ea settings and are you doing well as far as wins/loses in a real acount now. Thanks in advance,,,,,,,,, Tom

I had a long response all written up and once I made a screenshot of my latest results (below) I lost all I wrote. Actually, that's most likely a good thing!!!

The short of it is that I lost almost 30% of my live account months ago and had to reevaluate my trading.

Have come a long way since then with the kind help of everyone here, but still a ways to go.
Probably the most valuable thing I learned since, is to look at priceaction (by whatever means works for the specific individual, whether that means 100 indicators or a naked bar chart) and begin to see reoccuring patterns and act accordingly. I like to make the analogy of the Cheetah and the Gazelle. It uses instinct and experience to pounce and get it's meal quickly. ...I, at the moment, like the shorter timeframe charts. Quick in and out. I just have to learn to hang on for more than a handful of pips when I see a clear trend. I'm a work in progress that's for sure!!!

As far as the ea goes, it's one of the easiest ea's to set up since we leave all at default values for the most part.

My results are below:

Regards.

Anyone ride the euro rocket up today? Wish I still had my live acc. funded. Actually on second thought..........................................

Anyone that has results for v106 please post. Don't be shy.

hello dan,

heres the actual ea v06 result for today. i posted a screenshot before, but the post is gone. strange.

okey what i wrote in the deleted post was that i do think too (like alex a few pages before), that we have to further improve the ea. a customizeable hard stop would be very nice for example.

i hope siobi will come back soon and do a little change to the ea, so it will get better and better.

I'm sure he will!

Unlike me, who has been taken advantage of by Bernie Madoff type individuals, he has a more sharing type personality. Even so I do the best I can under my present circumstances.

Good people need to stick together and take advantage of "technology" to defeat the - still there - hungry dinosaurs that are there to prey upon us!!!!!!!!!!!!!!

Thanks !!! That sounds pretty much were Im at in this forex thing . I think Siobis will have this Ea in tip top shape before its over . If we cant make money one way well find anouther .Thanks for the input ..Cheers Tom

sorry guys,

letting Dan and others to carrying this thread for so long...Financial REcession is really killing..

I'm now having 2 EA.V104 and V106.

V104 is had been re-configure to 30M.
V106 is running on 15M.

I had few week testing on DEMO and resulted as per my setting is the best... you are encourage to close the trade anytime as per your wish since I had set the SL to 100 pip.

V104 is working on Slope and PSAR concept + Storch RSI and ADX as well.below is the formula.
(RSI>=55)
(Slope is blue) &&
(PSAR pointing up) &&
(adx_5M >= 25) &&
(adx_15M >= 25) &&
then go for LONG.!!!I had set the trailing stop to 25 pip and trade only japan session and close all trade 1 hour after the japan closed.

V106 is working on Slope and MA concept.
once the price bar crossing up to MA50 line from below MA50, and previous 3 bars showing all BLUE in slope direction line then I take the Buy.Al closer the 8EMA line and 21EMA line to SMA50 line, the better the result it is...
but the V106 still not yet taking in this condition.... maybe later stage.

I hope my brief explaination will clear up the doubts on the EA I posted. and happy trading.

PS: The main reason I change all my strategy from 1M scalping to trending scalping is because of the spread issue. the longer the time frame the less trade we take but the more accurate result I get to aviod the broker is playing on the price and spread.as for the setting of those indicator, after running the EA in the Strategy tester, click open chart and you should be able to view all the indicator and setting used.

a clear winning trade today and hit my daily target of 30 pip.

Sweet day!!!

manual Closed at 49 pip...

remember to turn off the EA or else the EA will immediately take another tradebecause it scan thru and found that no open trade for the SELL and it will open another SELL trade.

Take care and good day!!!

later after V104 and V106...

I'll continue on something what we call trend trading system...

it is also work on PSAR, MA concept....

oh GOD, I'm now stick to RSI,MA,PSAR and FIBO....

these indicators are giving very good signal at 15M and 30M chart...

scalping for 1M is rather hard nowadays....

Thanks Siobi!

Keep up the great work!

While we test both ea's, I'm playing with different templates, the one below showing perfect trade - which I wish I had taken live.
(notice all indicators agreeing and ma's crossing)

Template is a mix of different systems that very kind people shared here, and if anyone is interested I'll post it. Just be warned that there are heavily repainting indicators used, and need to be traded as original author, mtuppers specified. So if you don't like repainting incicators, skip this post, because care must be taken.

Siobi,

The way to prevent multiple, consecutive sell orders is to declare a static variable to track your last executed trade, then in the section of code before your next trade execution you check the direction of your prior trade. Remember to initialize your static variable to NULL/Empty value. Normally I define my static variable after the external parameter variables. In the section of code below, assume the SellSig variable is set based on the set of conditions the EA determines is appropriate to trigger a sell order.

Example:
=======
// Intialization section.
static string LastSig="";

// Trade execution section.

// CHECK FOR ANY OPEN ORDERS AGAINST THIS PAIR.
for(cnt = 0; cnt < total; cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderSymbol()==Symbol()){ SymOrdTotal++; }
}


if ( SellSig != 0 && LastSig != "SELL" && (SymOrdTotal == 0 || LastSig == "" ) )
{
OrderSend(Symbol(), OP_SELL, Lots, Bid, 3, Bid+StopLoss*Point,
Bid - TakeProfit*Points,"BARS EAV2", 15555, 0, Red);

LastSig = "SELL";

if(GetLastError() == 0)
Print("Sell Order Opened: ", OrderOpenPrice());

return(0);
}


Hope this helps to solve your multiple order problem.

Jam

Hi Jam,
Thanks for the advise, no prblem. I can totally understand your advise.

I had take care of te multiple order using Bar count.

same as your concept but I'm using a static variable to keep the order bar count.

eg: I sell at Bar no 1000, then for the same Bar count 1000, I woill not place another order.

I think I'm confuse on my previous post of multiple order. I recheck the code and I can reassured that it is implemented in both EA....

Hi all,
Today, V104 30M had another clear win.

Since my daily target is 20~30 pip... so I decided to close manually while it hits 30pip profit... but again re-quotes kill off my 4 pips..

anyway, today is done... clear win 26 pip...

cheers!!!!!

Siobi,

You mentioned in post #551 that you had to shut down the EA otherwise it would execute another Sell trade if you close the trade manually, which is why I supplied the code in my previous post - it will prevent that condition from occuring since the EA would still be tracking the last trade execution regardless of whether the trade by the EA or manually. This would effectively prevent multiple sell orders from being generated. If your Bar Count solution works, then great, but consider adding the code as an additional protective measure to your Bar Count method. It's your code so do with it as you wish - just thought I'd provide a small contribution to your programming efforts. Besides, it would only add a few CPU cycles of overhead.

Great job on the EAs and thanks for your time and effort - I've not experienced the success rates being published, but I'm sure those will come in due time.

UPDATE: One last thing - you may wish to consider incorporating clear trade exit rules for the EA so others who are helping out with testing of the EA across multiple brokers have the same rules in place and don't have to rely on personal decision-making and second-guessing themselves. I prefer a completely robotic, automated EA versus one that relies on subjectivity.

Jam

hi Jam,
thanks and really appreciate your helping hand.

sorry for the missleading post at #551.

the EA is fully automated.

the exit strategy is NOT fully implemented and it is now by Trailing stop concept.

since my daily target s 20~30 pip, so I decided to close manually once it hits my target.

cheers!!!

Ok, this is my second day with this new template, and I believe a very simple ea can be programmed around this very simple method:

1)Price approaches upper or lower bollinger bands - default settings.
2)Check 50 ema or equivalent to get a sense of lower 3 timeframe trend (maybe only go with a not too consolidated sideways market - or with trend only, not against since it may not overshoot bollinger band, which is what we want).
3)Hear the distinctive "tweet ding" of the supersignals indicator - which repaints like crazy - and be ready with an order AGAINST indicator.
4)Wait till you are in profit - usually within seconds and usually 2 or more pips - and be quick with a "close all open positions" script (alt c keystroke shortcut for me)
5)Make sure price is close to or touching respective outer bollinger band otherwise do not take audible signal.

It all happens quite quickly, so a simple ea would be amazing.
On the 1m you would pick up 2 pips at a time many times during the day, and since you are not exposing yourself to the market for any appreciable amount of time, the stoploss would be MINIMAL!!! ...Maybe 4 pip stop since it usually rockets to give min. 2 pips. (Somethimes when I see I'm 4 pips up and hit the keystroke shortcut I only end up with 2 pips and occasionally with 1 pip when I see I'm 2 up, since I have too many applications running on a small notebook.) But right now I'm testing with large lots because of small take profit.

Further rules can be implemented, but it doesn't get any better than this!!! ...So far anyway.
While I wrote this I missed a few more signals which would have netted another 2-6 pips with my aging reflexes!

Furthermore, you can trade it from one "true" signal to another using the signal line, etc. - It gives many false early signals, which is actually why the aforementioned method works I guess, but for now I just want my 2 pips every time using this "reversed" strategy!!!

PS: Notice below, had I stayed in a little longer, I would have netted more than what I got. That's more than OK with me if this proves to work the vast majority of time!!!!!!!!!!

Damn, ritht now I just missed another awsome signal!!!!!!!!!!!!!!!!!!!

That signal sound is becoming music to my ears!!!!

(I need to calm down, I may just be dreaming!!!)

Here's the signal I missed while writing my "PS" of the post above: