Attachments: This EA needs a break even setting

This EA needs a break even setting

#1
First Post: Oct 16, 2009 1:07pm Oct 16, 2009 1:07pm

Ilovepippin
Joined May 2008 | Status: Gannalist | 1,184 Posts

The algorithm on this EA is profitable on some instances.
To reduce the losses it needs a breakeven setting.
Something like when price reached +100 pips, stops move to breakeven.

Also some money management setting would be nice where lot size is calculated as percentage of your available margin, not account total!

The current one, as you can see, is disabled due to "130" errors.

Thank you!

Attached File(s)

Tradesignal.mq4 5 KB | 315 downloads

#2
Oct 16, 2009 8:09pm Oct 16, 2009 8:09pm

hayseed
Joined Nov 2006 | Status: Trader | 4,417 Posts

hey pippin..... might need more than just breakeven.....

fixed sell order error, now places sells.... changed money management, now true risk ratio..... added breakeven.....

possibly consider higher timeframe filter......h

Attached File(s)

Tradesignal.mq4 7 KB | 416 downloads

to trade and code, keep both simple... no call to impress....h

#3
Oct 17, 2009 7:28am Oct 17, 2009 7:28am

Ilovepippin
Joined May 2008 | Status: Gannalist | 1,184 Posts

Quoting hayseed

Disliked

hey pippin..... might need more than just breakeven.....

fixed sell order error, now places sells.... changed money management, now true risk ratio..... added breakeven.....

possibly consider higher timeframe filter......h

Ignored

Thanks man! That is a great improvement.

I have something else that I was playing around with.

I want to open multiple orders. All orders need to add up to the max allowable risk ratio and each order needs a different target.

Something like:

uselots = lots/2;
ticket = OrderSend(Symbol(), OP_BUY, uselots, NormalizeDouble(Ask,4), slippage, realSL, realTP, nameEA, 16384,0,Red);
ticket1 = OrderSend(Symbol(), OP_BUY, uselots, NormalizeDouble(Ask,4), slippage, realSL, realTP1, nameEA, 16384,0,Red);
Then, when you're checking your orders:
if(totalOrders ==1)
{
OrderModify(OrderTicket(),OrderOpenPrice(),OrderOpenPrice(), OrderTakeProfit(),0,Blue);
}
Have a TP on the first order of X pips, and when it is hit, you'll only have one order on and modify that order so that the SL = the Order Open Price

Now as you see I can read and alter existing code, but don't know where to place this new code. Part of this process is learning how to code.

Thank you for your help.
I will also make this EA available on my website: www.mywavez.net
If you contribute you should put your name or logo or email in the EA.

A higher timeframe filter, any ideas?
It is hard to rule out flat market entries completely. Maybe a volatility indicator. I'll play around with some and see.
Best is to keep the EA setting on "manual approve" and use it in combination with some means to determine flat markets.

Also the stop, I am using the 50MA if the tp's are not reached. 50MA is usually a good initial resistance but am looking for better ones.
Welles Wilder's volatility stop might be a good one, or maybe even the SAR.
Again, testing is required.
However, I feel that now we have a b/e setting we can reduce the amount of losing trade considerably.

#4
Oct 17, 2009 9:43am Oct 17, 2009 9:43am

Ilovepippin
Joined May 2008 | Status: Gannalist | 1,184 Posts

Here I have the modified EA with some pseudo code to open multiple lots and order modification.
Also I have a stoploss calculation based on the most recent low in pseudocode.

Could you please have a look?

Attached File(s)

Tradesignal trial.mq4 8 KB | 368 downloads

#5
Oct 17, 2009 2:30pm Oct 17, 2009 2:30pm

hayseed
Joined Nov 2006 | Status: Trader | 4,417 Posts

hey pippin..... might be better to just settle on a lot size that your comfortable with rather than splitting the risk..... it will avoid future unseen problems......

to move remaining orders to breakeven after first profit target has been hit, replace breakeven with tp in the 4 places in the ea.......h

Inserted Code

 
 
//---- sell conditions
   if((Close[1] < al1) && (st2>20) && (st1<20))  
     {
      OrderSend(Symbol(),OP_SELL,LotsOptimized(),Bid,3,(Bid+sl*Point),(Bid-tp*Point),"",MAGICMA,0,Red);
      OrderSend(Symbol(),OP_SELL,LotsOptimized(),Bid,3,(Bid+sl*Point),(Bid-tp2*Point),"",MAGICMA,0,Red);
      OrderSend(Symbol(),OP_SELL,LotsOptimized(),Bid,3,(Bid+sl*Point),(Bid-tp3*Point),"",MAGICMA,0,Red);
      return;
     }
//---- buy conditions
   if((Close[1] > al1) && (st2<80) && (st1>80))  
     {
      OrderSend(Symbol(),OP_BUY,LotsOptimized(),Ask,3,(Ask-sl*Point),(Ask+tp*Point),"",MAGICMA,0,Blue);
      OrderSend(Symbol(),OP_BUY,LotsOptimized(),Ask,3,(Ask-sl*Point),(Ask+tp2*Point),"",MAGICMA,0,Blue);
      OrderSend(Symbol(),OP_BUY,LotsOptimized(),Ask,3,(Ask-sl*Point),(Ask+tp3*Point),"",MAGICMA,0,Blue);
      return;
     }
//----

//----
//----
//----

Inserted Code

 
 
   if(UseBreakeven)
   {
   for(int i=0;i<OrdersTotal();i++)
     {
      if(OrderSelect(i,SELECT_BY_POS,MODE_TRADES)==false)        break;
      if(OrderSymbol() != Symbol() || OrderMagicNumber() != MAGICMA) continue;
 
      if(OrderType() == OP_BUY)
 
      if(tp>0)  
              {                
               if(Bid-OrderOpenPrice() > (Point*tp))
                 {
                  if(OrderStopLoss() != OrderOpenPrice() && OrderStopLoss() < OrderOpenPrice())
                    {
                     OrderModify(OrderTicket(),OrderOpenPrice(),OrderOpenPrice(),OrderTakeProfit(),0,Red);
                     //Print("Moved Buy to Breakeven");
                     return(0);
                    }
                 }
              } 
 
      if(OrderType()==OP_SELL)
      if(tp>0)  
              {                 
               if((OrderOpenPrice()-Ask)> (Point*tp))
                 {
                  if(OrderStopLoss() != OrderOpenPrice() && OrderStopLoss() > OrderOpenPrice())
                    {
                     OrderModify(OrderTicket(),OrderOpenPrice(),OrderOpenPrice(),OrderTakeProfit(),0,Red);
                     //Print("Moved Sell to Breakeven");
                     return(0);
                    }
                 }
              }     
     } 
     }
 
       }

to trade and code, keep both simple... no call to impress....h

#6
Oct 17, 2009 9:03pm Oct 17, 2009 9:03pm

Ilovepippin
Joined May 2008 | Status: Gannalist | 1,184 Posts

Thank you Hayseed, that looks great.

I will try them in the backtester.
This can also be used as a really good template and all you need to do is change the trading algorithm.

Thanks again!

#7
Oct 18, 2009 6:07am Oct 18, 2009 6:07am

Ilovepippin
Joined May 2008 | Status: Gannalist | 1,184 Posts

Here it is Hayseed.
I open 2 orders instead of 3, and b/e works on both.
It runs without any problems.

Thanks for your help!

Attached File(s)

Tradesignal trial.mq4 7 KB | 333 downloads

#8
Last Post: Oct 18, 2009 6:21am Oct 18, 2009 6:21am

Ilovepippin
Joined May 2008 | Status: Gannalist | 1,184 Posts

Here is the graph.
Drawdown max 15%. Pretty Impressive

Need to optimize a little more but it looks very promising...

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