My 1st EA.....Aww bless

THE THREAD
This a continued thread from what has already been said here....http://www.forexfactory.com/showthread.php?t=197033
This area of the forum is more appropriate for where the thread is going.

Here's my plan for this thread.

In the spirit of FF I going to share my EA with you all, if it wasn't for the help of some FF members, the EA wouldn't exist is in the 1st place.
I'm releasing the compiled EA and not the code, I feel this will help keep the thread organised rather than having 20 versions of the same EA.
If you download and test the EA, I would like you to post and let everyone know what settings you are using and also give a link to an mt4stats page for us all to see how that particular .set is performing.
I will then take this info from each post and add it to post No.1 with links for us all to easily see and evaluate.
This should help reduce duplicated efforts.

I hope you agree this seems a good plan and lets keep it productive and the thread active with lots of results.

THE SYSTEM
The idea for this system 1st came to me when I was experimenting with a variant of 10p3. With 10p3 I saw lots of little profits and then eventually the system did as martingale does and bombed out with a huge loss.
I thought to myself, why not reverse this, take lots of little losses, and rather a huge loss when the system goes wrong, a huge profit when it goes right.
The entry is as the 10p3 I first used, from there on in all the logic is reversed.

Here are the input variables at default values and their meanings explained:
ALL profit and loss prices are in the format of 0.00150, this way it works on 4 and 5 digit brokers, also my programming skills are not up to scratch.

TakeProfit = 0.01500;
This value is the ultimate goal, ALL your placed orders will have this value.

StopLoss = 0.00100;
From the 2nd order onwards, all orders will be modified to have a SL of this many pips.

InitialStopLoss = 0.00100;
The first order only can have a different value from the rest, when the 2nd order is placed the stoploss will be as the "StopLoss" value.

Multiplier = 2;
The next order will be this many times bigger than the last, set to 1 if you dont want order sizes to increase. If can be 1.1 or 2.34, whatever you want, but not zero.

LotSize = 0.01;
The size of the first order.

MagicNumber = 801369;
I'm sure you all know about these by now.

Pips = 0.00300;
When your 1st order is in profit by this much, your 2nd order will open and 3rd 4th etc until your TakeProfit value hits(or is so close the order is not valid)

ReverseSignal = false;
This reverses the entry trade from a buy to a sell and vice versa.

slippage = 0;
Slippage, remember in 0.0001 format.

THE RESULTS

I'll start the ball rolling with my results and my settings.
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I did have MT4 stats charts here but the site is down far too often, I have switched to
http://www.myfxbook.com/members/BenScoobert
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Hope to hear from you soon and see some results to put on this page.
http://benscoob100100.mt4stats.com

what pair and tf did you use to get those results? I tried EU with various tf and settings and can't get a dime. looks like the other ea would be better

On systems such as this, sometimes one ea is better, sometimes the other. How about counting profitable trades using each ea settings within a new ea (probably using arrays and a small lookback period) and take trades using the more recent profitable ea? This could keep you on the right side the majority of the time.

Just my 2 pips.

Best wishes,

Cat Preacher

Why dont you tell us how the EA decides to enter the trades. May be that may be improved too rather than just testing something in the dark.

I can see a big drop in profits there in your chart after a profit of about 20, 000 has been reached. It does not look good.

Hey Ben,

Good luck to you

Dan

to benscoobert : do you think this strategy may work (produce profit) longterm

to the moderators: why aren't you approving most of the comments that i make ? what was wrong with the last 2 comments?...

Ah yes sorry I forgot to post some details, I'll add them to the 1st post too.

I used 1 min timeframe, my thinking on this was:
The trick with this EA is in the trade management and catching the trend, if it can be profitable on what is effectively a coin toss, then the logic can be applied to any entry.

My initial tests were on EURGBP and EURUSD, simply because on the lowest spreads on Alpari UK.

The EA uses the 10p3 entry ie.

double MACDMainCurr=iMACD(NULL,0,Fast_EMA,Slow_EMA,Signal_SMA,PRICE_CLOSE,MODE_MAIN,Shift);
double MACDSigCurr=iMACD(NULL,0,Fast_EMA,Slow_EMA,Signal_SMA,PRICE_CLOSE,MODE_SIGNAL,Shift);
double MACDMainPre=iMACD(NULL,0,Fast_EMA,Slow_EMA,Signal_SMA,PRICE_CLOSE,MODE_MAIN,Shift+1);
double MACDSigPre=iMACD(NULL,0,Fast_EMA,Slow_EMA,Signal_SMA,PRICE_CLOSE,MODE_SIGNAL,Shift+1);

double SellRange=TradingRange*Point;
double BuyRange=(TradingRange-(TradingRange*2))*Point;

if(MACDMainCurr>MACDSigCurr && MACDMainPre<MACDSigPre && MACDSigPre<BuyRange && MACDMainCurr<0 && TimeStamp!=iTime(NULL,0,0)) {myOrderType=2; TimeStamp=iTime(NULL,0,0);}
if(MACDMainCurr<MACDSigCurr && MACDMainPre>MACDSigPre && MACDSigPre>SellRange && MACDMainCurr>0 && TimeStamp!=iTime(NULL,0,0)) {myOrderType=1; TimeStamp=iTime(NULL,0,0);}

Although my attention is really on the trade management and not the entry right now.

Yes there is a big drop in profits, but that is just 1 lot of settings, with a group effort maybe we can iron this out a little.
There is also 7k of profit after 3 weeks.

Hey Dan
Hope you join in with my EA.

I'm looking at this way.

I'm sure martingale loses long term, so im hopeful that reversing the logic of that will profit long term.

The only way to see is to test, and I don't mean backtests as the results are not realistic. I mean proper forward tests like I am trying.

If you set both SLs and Pips to the same number wouldn't that reduce the drawdown? I'm gonna try that.

My settings:
TakeProfit=0.0040
StopLoss=0.0010
InitialStopLoss=0.0010
Multiplier=2.00000000
LotSize=0.01
MagicNumber=801369
Pips=0.0010
Fast_EMA=12
Slow_EMA=26
Signal_SMA=9
Shift=1
TradingRange=0
ReverseSignal=0
slippage=0.00000000

We all should use a $5k starting balance for sake of uniformity

https://www.myfxbook.com/portfolio/r...tingaleea/1520

Interesting set, i see the largest trade will never be more than 8x the starting which is less risky which is good, the problem i see is everytime it reverses the biggest trade will outweigh all the others with its loss. Only time will tell if it works long run.

I had a similar idea of making the sl 1/3 of the pips value and multiplier of 2, this way if it reverses the 1st trade covers the loss of the 2nd. If it gois to 3 trades and reverses then the 2nd covers the loss of the 3rd and the 1st makes profit.
I set up a set like this and put it on post 1.

I agree 5k starting point for consistancy.

What is that link you provided lolpie? Should it be a stats page?

Something which just came to mind which i didnt mention.

If you run the EA on more than 1 pair, it will wait until all trades are closed before opening with new entries. I thought this was a good idea to help reduce having too many trades open in drawdown.

Ive added 4 sets to post 1, we'll see how they perform over the next few weeks. It would be encouraging to see someone else have a set on there too.

Yeah it's basically MT4stats but since I was already registered on there I just used them

Wow, that website looks to be a very useful statistical tool.

it doesn't work when i click it :-(

The link or the stats on the website? The stats won't work because the market's closed and I'm not running MT4 bro

I'm just checking out the site right now, looks indepth.

Ok Ben I'm in.

BTW what is the does the 'Range' input do? I did'nt see any info in post one about it.

New 5000 FXDD account. . .