daily high/low ea

Attached are a couple of ea's. They are set up to be range trading ea's.

It will first establish a 24 hr high and low. The ea will then sell at the high and buy at the low. It will only work with 4 decimal pt values. I can come back later and attach ea's for the 5 decimal place brokers and also the 2 decimal jpy currency crosses. ea will not work with fxcm mt4 or MBtrading mt4 demo.

You may set the pivot calc to any utc hour you want. With my mod...pivot pt will now equal the high for the sell ea and low for the buy ea.

So you will know...I did not create this ea. Instead I modified it to fit the range trading style. Pivot pt calculation is not the true pivot pt so ignore that. PP now equals the high or low.

Give it a try...its a good program. You can make adjustments to the offset to buy above or below the actual 24 hr low or high. You can manage your lot size and other things.

On Aug1 st....program will probably no longer work with US regulated nfa brokers. Not sure what the work around will be. I guess we need to go with regulated European MT4 brokers.

Let me know how it goes and I'll field questions as they come in.

Hi 60minuteman

Thanks so much for providing this community with such a wonderful tool . We really appreciate it . However , can you please explain the following :" pivot time ' (does the pivot time on the default settings of the EA correspond with your brokers 24 hour time) ?. or does it correspond to GMT time. I really wanna know the basis for your time ( i mean with reference to what , GMT UST ?. Also please explain the basis of 'session start 'and 'session end'. Also the concept of ' entry offset needs to be explained ' .Do we have to tinker with 'entry offset settings' ? .

God bless you .

Gravedigger,

I first want to reemphasize that this program does not calculate the true pivot point. The modification of the pivot pt calculation is needed so that the program will buy at the low and sell at the high.


All times are utc.

Pivot time is the time at which the 24 hr high and low is determined.

Don't worry about filter time....just make sure it matches the pivot time. Given my modifications...filter time is insigniificant.

session start is when the ea becomes active and is waiting for the price to hit the high or low to enter.

session end is the time limit.

For instance....if session start is at 1500 utc and session end is at 2000 utc. Here is what happens.....

at 1500 utc the ea starts actively waiting to make a trade if the high or low is hit.
If the high or low is not hit by 2000 utc...the ea goes into non active mode and wont take a trade. It will however begin the process again at 1500 utc the next day.

Entry offset is an adjustment you can make to your entry price. If the offset is 500 then the ea will buy at the 24 hr low or sell at the 24 hr high.

If the entry offset is 490...the ea will buy at 10 pips below the low

or it will sell at 10 pips above the high.

So you can adjust it to whatever you want. Just remember that 500 is the base for the entry at the 24 hr high or low.

Also...if you are a breakout trader....I could create the ea's so that they will buy at the high or sell at the low. Just let me know.

Good questions gd....let me know how it goes. And ask if you have more questions.

Hi 60minman,

I would like to start out by thanking and congratulating you on behalf of other members of this forum who are following this thread for providing the range based EA. Your efforts will never go un-noticed in this great forum. The world would certainly be a better place if most folks had your attitude . I trade breakouts sometimes , and would also want to encourage you to go ahead with producing the breakout EA which you earlier talked about . Have a nice day 60 minute man .

Hello,

love the idea of this EA but how do i get it to work on a 5 digit broker ?

Thanks

In order to get it to work on 5 digit brokers you need to add a zero to the following setup parameters.....

stoploss, take profit, entry offset and activate entry.

Important note....

For some reason...this ea will not work on North American mt4 platforms with that 5th decimal.

It works just fine with FXPro (Cypress) but it does not work with fxcm or mb trading demo. It gives an error every time the entry price is hit. Not sure why.