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Please help turn my idea into an EA

  • #1
  • First Post: Jul 21, 2010 3:02pm Jul 21, 2010 3:02pm
I came up with an simple system and I have been unable to figure out how to program it into an EA. The trading system simply follows a few simple rules:

1)open a long position when a bull candle closes
2)open a short position when a bear candle closes
3)Close all long positions when a user defined stoploss or profit target is hit
4)Close all short positions when a user defined stoploss or profit target is hit

It would also require user defined lot size and be able to trade microlots.
I would like the user defined variable default values set at:
lots=.01
stoploss= 25 pips
profit_goal= 100

I believe that this would be a simple program for someone that knows how to program EA's and I would appreciate any help you can offer.
  • #2
  • Jul 21, 2010 3:13pm Jul 21, 2010 3:13pm
I would do it easy if I knew for sure it is profitable.
Did you trade it live (e.g H1 TF), what are results in reality?
The more experience the closer to the reality
  • #3
  • Jul 21, 2010 3:19pm Jul 21, 2010 3:19pm
Quoting jaws810
I came up with an simple system and I have been unable to figure out how to program it into an EA. The trading system simply follows a few simple rules:

1)open a long position when a bull candle closes
2)open a short position when a bear candle closes
3)Close all long positions when a user defined stoploss or profit target is hit
4)Close all short positions when a user defined stoploss or profit target is hit

It would also require user defined lot size and be able to trade microlots.
I would like the user defined variable default values set at:
lots=.01
stoploss=...
Perhaps you have found the "best of the best methods". As Einstein is credited with saying, "everything should be as simple as possible but no simpler".

Personally, I need "one or two" more variables.

Best of luck.
  • #4
  • Jul 21, 2010 3:30pm Jul 21, 2010 3:30pm
I haven't tried it live because it would be nearly impossible because I plan on using it on a 1m TF; however, I have studied the charts and believe that it will work, the idea is to follow a short term trend into profit and dump the losing trades. the only downside that I can see is that in a flat market the spread may eat up the 25 pips before a sharp move brings in the profit, which could possibly be remedied with a minimum volume necessary to execute a trade, but I'll be using microlots till I see what it could do.
  • #5
  • Jul 21, 2010 3:40pm Jul 21, 2010 3:40pm
Quoting jaws810
I haven't tried it live because it would be nearly impossible because I plan on using it on a 1m TF; however, I have studied the charts and believe that it will work, the idea is to follow a short term trend into profit and dump the losing trades. the only downside that I can see is that in a flat market the spread may eat up the 25 pips before a sharp move brings in the profit, which could possibly be remedied with a minimum volume necessary to execute a trade, but I'll be using microlots till I see what it could do.
If you "haven't tried it live because it would be nearly impossible" WHY would you think it would be better to let a robot try it.

It doesn't matter if it's micro or maxi lots. Try to prove what you are doing in reality. Not every bull candle is a buy etc., etc.

PROVE YOUR METHOD MANUALLY, FIRST !!
  • #6
  • Jul 21, 2010 3:41pm Jul 21, 2010 3:41pm
Quoting jaws810
I plan on using it on a 1m TF
I can see this working maybe on D1 or H4 to reduce all the noise.

M1? Candle? Hmm, I don't think candles mean anything on that

TF.. cause it could jump any direction any time regardless.. IMHO.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #7
  • Jul 21, 2010 3:46pm Jul 21, 2010 3:46pm
Quoting jaws810
I haven't tried it live because it would be nearly impossible because I plan on using it on a 1m TF; however, I have studied the charts and believe that it will work, the idea is to follow a short term trend into profit and dump the losing trades. the only downside that I can see is that in a flat market the spread may eat up the 25 pips before a sharp move brings in the profit, which could possibly be remedied with a minimum volume necessary to execute a trade, but I'll be using microlots till I see what it could do.
I am sure I have seen such an EA somewhere in the FF. Use the search function on the top of the page and you may get lucky.

Kostas
  • #8
  • Jul 21, 2010 3:49pm Jul 21, 2010 3:49pm
Quoting SkyzerFX
I can see this working maybe on D1 or H4 to reduce all the noise.

M1? Candle? Hmm, I don't think candles mean anything on that

TF.. cause it could jump any direction any time regardless.. IMHO.
I understand that, the idea is I have no idea what the market is going to do so I enter at every candle and wait for the market to decide what it's going to do. It would probably be safer to use a 5m TF, I don't have enough patients to use H4 or D1, however in theory it should work in any TF with adjustments to TP and SL.
  • #9
  • Jul 21, 2010 3:55pm Jul 21, 2010 3:55pm
Quoting kostas1
I am sure I have seen such an EA somewhere in the FF. Use the search function on the top of the page and you may get lucky.

Kostas
I've tried, I even searched the forums and the EA online Library but couldn't find any EA that I could modify to fit my system, I tried to modify a Martingail system but couldn't get it to work, I don't know enough about EA programming to get it done.
  • #10
  • Jul 21, 2010 3:55pm Jul 21, 2010 3:55pm
Quoting jaws810
I came up with an simple system and I have been unable to figure out how to program it into an EA. The trading system simply follows a few simple rules:

1)open a long position when a bull candle closes
2)open a short position when a bear candle closes
3)Close all long positions when a user defined stoploss or profit target is hit
4)Close all short positions when a user defined stoploss or profit target is hit

It would also require user defined lot size and be able to trade microlots.
I would like the user defined variable default values...
I could be wrong, but I would bet that this system has a win rate no better than 50%- the same as flipping coins.
  • #11
  • Jul 21, 2010 4:03pm Jul 21, 2010 4:03pm
Quoting TradeRunner
If you "haven't tried it live because it would be nearly impossible" WHY would you think it would be better to let a robot try it.

It doesn't matter if it's micro or maxi lots. Try to prove what you are doing in reality. Not every bull candle is a buy etc., etc.

PROVE YOUR METHOD MANUALLY, FIRST !!
I can't place orders fast enough, metatrader doesn't have one click trading and it takes forever to close multiple lots manually
  • #12
  • Jul 21, 2010 4:05pm Jul 21, 2010 4:05pm
Quoting finally
I could be wrong, but I would bet that this system has a win rate no better than 50%- the same as flipping coins.
I'd take a 50% win rate with a 4-1 payout. 25pip SL, 100 pip TP
  • #13
  • Jul 21, 2010 4:51pm Jul 21, 2010 4:51pm
Quoting jaws810
I haven't tried it live because it would be nearly impossible because I plan on using it on a 1m TF; however, I have studied the charts and believe that it will work, the idea is to follow a short term trend into profit and dump the losing trades. the only downside that I can see is that in a flat market the spread may eat up the 25 pips before a sharp move brings in the profit, which could possibly be remedied with a minimum volume necessary to execute a trade, but I'll be using microlots till I see what it could do.
And that there is the problem with this system. The spread will eat you alive.
  • #14
  • Jul 21, 2010 5:11pm Jul 21, 2010 5:11pm
Quoting Ronald Raygun
And that there is the problem with this system. The spread will eat you alive.
yea, that's why i use fixed 2 pip spread on the euro.
  • #15
  • Jul 22, 2010 1:27am Jul 22, 2010 1:27am
I would really like to see this EA run is there anyone here that could toss this info into an EA, no need for the volume monitoring just what I asked for in my first post.

BTW, I did try to do it manually and I couldn't do the calculations fast enough, this is an EA only system.
  • #16
  • Jul 22, 2010 3:41am Jul 22, 2010 3:41am
I've tried building this kind of program and it doesn't really work. But, here is an expert I think you will find interesting that is kind of like what you want. If not do a search on the web for Ron Thompson. He has dedicated his forex life to trying to develop a "batch profit" EA. Been about 3 years now with no success that I know. But, he gives his EA's away for free and might help you with your idea.
Attached File(s)
File Type: mq4 Divergence_Trader.mq4   17 KB | 329 downloads
  • #17
  • Jul 22, 2010 2:28pm Jul 22, 2010 2:28pm
Therein lies your problem. You'll never get a 50% win rate shooting for a 4 to 1 payout when your entries are based more on less on the flip of a coin. There's no edge to this system.

Scott

Quoting jaws810
I'd take a 50% win rate with a 4-1 payout. 25pip SL, 100 pip TP
Prices are never too high to begin buying or too low to begin selling.
  • #18
  • Jul 22, 2010 5:11pm Jul 22, 2010 5:11pm
Quoting thehenryfam
Therein lies your problem. You'll never get a 50% win rate shooting for a 4 to 1 payout when your entries are based more on less on the flip of a coin. There's no edge to this system.

Scott
Its a hedging system as soon as there is a big move all positions would be closed first the losing positions then the winning positions which would net a profit of 75 pips. The only question is how big does the SL need to be to allow this to happen before sl is hit without a winning trade being closed, the 4 to 1 ratio will work.

I am fairly confident this system would be profitable, I just need someone to turn it into an EA to prove it.
  • #19
  • Jul 22, 2010 6:29pm Jul 22, 2010 6:29pm
There is a very simple way to test your system and paper trade it.

Btw, don't listen to people trying to discourage you. The system might not be profitable but still it is your right to fail, you learn that way and will come up with a better idea.

To get to the point - search for vHands trading simulator. You can replay, pause and trade with multiple positions opened at the same time - you can test days and weeks in few hours.

I hope this helps and please share the results.

Wish you all the best!
  • #20
  • Jul 22, 2010 7:21pm Jul 22, 2010 7:21pm
Quoting blank_jack
There is a very simple way to test your system and paper trade it.

Btw, don't listen to people trying to discourage you. The system might not be profitable but still it is your right to fail, you learn that way and will come up with a better idea.

To get to the point - search for vHands trading simulator. You can replay, pause and trade with multiple positions opened at the same time - you can test days and weeks in few hours.

I hope this helps and please share the results.

Wish you all the best!
Thanks I'm working on installing the vHands simulator now and I'm going to try it out over the weekend. Don't worry about me getting discouraged because it will never happen till I am proven wrong.

BTW, if anyone is interested there is someone over at BabyPips that will program EA's for free. I'll try this simulator while I wait for him to build my EA.
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