Need a Simple EA for 5 min EU Chart

Hello to all traders..

anybody who can provide a simple EA for a 5min EU chart..

here is the conditions:

1. 5 min chart

2. EUR/USD

3. If the last candle closed HIGHER that the previous candle, place BUY order (0.01 lot), with 5 pip TP and 15 pip SL.

4. If the last candle closed LOWER that the previous candle, place SELL order (0.01 lot), with 5 pip TP and 15 pip SL.

5. If in case the SL/TP was not hit within the 5 minute period, the EA will automatically close the position and open a new one based on the conditions #3 or #4.

Thanks...

Happy Trading Guys..

Here you go,

Also included a buffer, so you can tell it to only trade if the close is X no of pips above or below the previous close.

Let me know if there are any bugs.

thanks...

simple system but so small profit and bad risk. Why not a trailing stop instead of that fix profit ?

you might check and compare close(1) & open(0) to be sure that trend dont reverse

thank you for the comments..

I saw its back test and the result is terrible.. hahaha..

any suggestions would be appreciated..

please post it here..

happy trading guys

Kenny have made a nice clean coding but that bot cant trade safely alone, you need to select buy or sell only into the common tab to follow the trend of the upper timeframe or ask for more sophisticated conditions.

what would be your suggestion sir?

what should I add to that?

thanks..

see post 5 above and you can add a mtf-sma like #MTF_MovingAverage.mq4 to be sure of the trend on a higher timeframe: under M30 its noisy and will burn your account

http://www.forexfactory.com/showthread.php?t=30225

what if we will insert a little touch of martingale?

the maximum consecutive losses during backtesting is only 2..

so may we tweak it a little...

1. 5 min chart

2. EUR/USD

3. If the last candle closed HIGHER that the previous candle, place SELL order (0.01 lot), with 10 pip TP and 10 pip SL.

4. If the last candle closed LOWER that the previous candle, place BUY order (0.01 lot), with 10 pip TP and 10 pip SL.

5. The position will continue until TP/SL is hit.

6. If the TP was hit, conditions #3 or #4 will apply.

7. If the SL was hit, double the lot size, same position, same TP and SL.


Let see the results.. hahaha..

Happy trading..

Here you go,

There was a logic bug that was causing the EA to sell, even when the conditions where not met. This has been fixed.

I have added a moving average filter to try and sort out the trend issue. It is 2 SMA's of high and low to form a channel with a faster EMA signal.

Unfortunately does not seem to be much better......sorry.

Will try the martingale thing during the week, but it is better to try and get the entry and R/R correct and then use other things(trailing TP's, martingale, etc) to maximise the potential.

Dino, I'll go look at that MTF MA but as a matter of interest Close[1] and Open[0] are virtually always the same unless there is a weekend gap or something, so I have my doubts about how effective it would be for trend determiination.

K.

Here is the Martingale version......

It does a 1 level martingale escalation. There is also a grid version which allows you to cost average positions. The two are mutually exclusive, so the martingale option de-activates the grid positions.

You can use 3 exits on this, normal TP or SL, close on a new bar, or close when a specific equity TP has been hit. There is no equity SL, so watch this one. I didn't bother coding in an exclusion of the TP when using the equity TP, so set it to zero if you want to use this option.

I have also added a filter where the faster EMA must be above the HIGH/LOW SMA channel and then the price action should also be above the fast EMA for a long and vice versa for a short.

The input options should be self explanatory if you have used an EA before.

Unfortunately, it still does not seem like a very good strategy, you may be able to optimise it to show a marginal profit, but it doesn't stir my heart. I think I am gonna go look for a decent breakout system..............

thanks...

i really appreciated all your efforts..

"he who gives some, receives more."

good luck sir..