Daily Scalping EA - Discussion Thread

Quoting MasterOfDomain

Disliked

OK, I'm trying to backtest this particular EA (BTW, thanks for the coding guys) and I'm trying to figure out the offset for the hours. I'm on the East coast but InterbankFX is in Salt Lake City Utah.

UTC/GMT OffsetStandard time zone:UTC/GMT -7 hours
Daylight saving time:+1 hour
Current time zone offset:UTC/GMT -6 hours
Time zone abbreviation: MDT - Mountain Daylight Time

Now, when I enter -6 in the offset I get no results for the strategy tester. When I enter 6 in the offset I get results. Which is correct?

Ignored

Quoting Al_Have1

Disliked

What I do is open my clock (control Panel>Date/Time) and change the time zone to GMT. Then compare it to the "Market Watch" clock on the MT ticker.

MT clock - PC clock = shift

Be sure to add 12 to PC if it is PM. My question has always been with the hourtoclose. Is this hours since entry time (MT time + shift) or just MT time?

Ignored

Quoting EnkiJr

Disliked

Hello Skyline... thank you again for your EA... I just completed re-reading your posts... downloaded EA from your signature... the settings are...

GMT_Shift = 1;
TakeProfit = 200;
StopLoss = 40;
HourToCloseOrders = 17;
SundayCandleExists = true;
Lots = 0.1;
UseMoneyManagement = true;
Risk = 10;
Slippage = 3;
MaxLossesTradesPerDay = 2;
TrailingStop = 0;

and in your last post you show...

GMT_Shift = 2;
TakeProfit = 200;
StopLoss = 40;
HourToCloseOrders = 17;
SundayCandleExists = true;
Lots = 0.01;
UseMoneyManagement = false;
Risk = 0;
Slippage = 3;
MaxLossesTradesPerDay = 2;
TrailingStop = 0;

Would you please tell me the reasoning behind each setting [if I remember correctly, you once said... "if you could set the UseMoneyManagement = true; you would realize the full potential of this EA"]... -what the UseMoneyManagement = true; does...?

EA via your signature... shows UseMoneyManagement = true; you also have... Risk = 10; ... I know, for most of you guys here it's a piece of cake... but could someone explain to me the Risk = 0; vs Risk = 10; settings...

thank you very much...
PS: Skyline, after reading that you are with fastbrokersfx... I checked their site, spoke with Giovanni and just opened an account with them... -tks

BTW: C.E.O. and Accrete... thank you for your contribution and support as well... pls keep your updates coming... Skyline, the last I red, C.E.O. offered to take a lead re further development of your EA... don't remember reading about your response to his offer... did you guys have a conversation on this topic...? -please bring us up to date... -tks

Ignored

Quoting C.E.O.

Disliked

Lines in red I have coded in this version, 1.0hATRa
Overrule direction T/F
Go Long T/F (is overrule true, first direction ONLY places orders normally after that)
UseATR T/F
Sl ATR %
TP ATR %
BE ATR %
ATR Period
(if using ATR and Sunday exists, use Friday ATR)
Fridayclosehour
Days to reverse
Extern bool comment
MM for micro lots
Decrease Factor(reduce lot size after X losses, probably useless but left it in there)
Carry Trades T/F (don't close orders if same direction)
Close all on Friday T/F(if carry trades)


I have tone some testing but this should be DEMO'ED AND BACKTESTED EXTENSIVELY prior to going live!! Play with it for some days and see if it all works correctly. I had one major bug and it seems to be eliminated, but my brain is so fried I gave up on many thorough backtests and just did a few.

It uses the ATR value from the prior DAILY close.

In the next progression I would like to see the carry trades added, and the BE and trail to work normally. This may be beyond my ability as i am just a code hack but i do have some ideas after my brain quits steaming.

I would also like to hear other ideas to make this bad boy even more profitable.

SL, TP, BE_AT are used for both the ATR value and the pip value. Enter pips as normal numbers, and enter ATR values as a decimal fractional value--0.3=3/10ths or 30%

Everything else is self explanatary, have fun.

Ignored

Quoting VinceTheBeast

Disliked

Hi EO,

Thanks for your effort. Looks promising!

Been doing some back testing on the GBPUSD and following happened. Several times there were multiple orders opened within a few minutes. Please have a look at the attachments of one of such occasion, to see what I mean. I’ve tried at all timeframes and did get the same results. Any idea’s? Anyone else getting this? Haven't put a version in a forward test but will do soon.

Thanks,

Vince

Ignored

Quoting chawichsak

Disliked

Hi. Skyline.
I used IBFX and if I set GMT_Shift = 0 then I have to change HourToCloseOrders = 15 ?
Thank in advance.
Cha.

Ignored

Quoting Quick

Disliked

Skyline,

Would you mind posting a trade history with the EA to take a look at? I ask because I've been attempting to configure the EA using the same settings that you did (except I set my shift to 0 since I'm using IBFX) and backtesting it from 2007/03/05, but I'm not getting anywhere near the pips you are displaying in your posts. I'm trying to figure out what's going wrong.

Ignored

Quoting skyline

Disliked

If IBFX is gmt aligned and you want that your order will be closed at 17 gmt then you have to put HourToCloseOrders = 17

Ignored

Quoting skyline

Disliked

If IBFX is gmt aligned and you want that your order will be closed at 17 gmt then you have to put HourToCloseOrders = 17

Ignored