Confirm 14 EA System

Attach to any chart, any timeframe. Do not attach to more than one chart.

We selected two groups of 7 currency pairs (total of 14) that are mathematically equivalent, and we initially buy one group of 7 and sell the other group of 7. We arbitrarily picked one group of pairs to be the buy side, and the other to be the sell side, and always initally trade each group in its designated direction.

When the biggest-loser currency pair has risen/fallen above/below its 24-hour high/low, we use selected pairs to confirm currency weakness by checking that the confirming pairs have also breached 24-hour highs/lows in the appropriate direction, and we cut-reverse the biggest-loser currency pair.

We close all trades when current equity exceeds 1% of last flat equity.

These are the pairs we trade:

For Any Broker Offering These Pairs
==========================
Group 1 (The Buys)
------------------
1. GBPUSD, confirming pairs: GBPJPY, GBPCHF, EURGBP
2. EURGBP, confirming pairs: EURJPY, EURCHF
3. GBPJPY, confirming pairs: EURGBP, GBPCHF
4. USDCHF, confirming pairs: EURCHF, GBPCHF
5. NZDUSD, confirming pair: NZDJPY
6. AUDJPY, confirming pairs: CHFJPY, EURJPY
7. EURJPY, confirming pairs: EURGBP, EURCHF

Group 2 (The Sells)
-------------------
8. EURUSD, confirming pairs: EURJPY, EURGBP, EURCHF
9. USDJPY, confirming pairs: CHFJPY, NZDJPY
10. AUDUSD, confirming pair: AUDJPY
11. NZDJPY, confirming pairs: CHFJPY, EURJPY
12. GBPCHF, confirming pairs: EURGBP, GBPJPY
13. CHFJPY, confirming pairs: EURCHF, GBPCHF
14. EURCHF, confirming pairs: EURJPY, EURGBP

The selection of pairs is two groups of 7-pair "Super Pair".

AUD+EUR+EUR+GBP+NZD / CHF+JPY+JPY+JPY+USD
(In the Buys, one set of GBPs and one set of USDs cancel out; in the Sells, one set of CHFs and one set of USDs cancel out)

http://members.cox.net/rcochran/supercurrencies.jpg


Each group of 7 pairs is this AUD+EUR+EUR+GBP+NZD / CHF+JPY+JPY+JPY+USD entity.

You will notice that the super pair is very nearly EURJPY, so you might ask, "why not just trade EURJPY?" The answer is that a single currency pair does not give you the stability of a pure hedge that is broadly based across many pairs. When we carefully select limited numbers of pairs to reverse in hopes that it tips the balance enough to bring us into profit, the overall basket is still solid and unlikely to take us into disastrous drawdown.

Version 01 requires that all confirming pairs confirm the action of the biggest loser before a cut'n'reverse will be executed.

Version 02 requires that only one confirming pair confirms the action of the biggest loser before a cut'n'reverse will be executed.

Version 03 is the same as version 02 but it does not have the MinMiniEquity and MinStdEquity settings.

Just have to ask. How are the results?

I'm not gonna pump sunshine. Test everything I say and every EA I post for yourself.

This seems a lot like Trader101's method.

It's an approach that seems pretty obvious, I wouldn't be surprised to hear of others doing something similar. I did not dream up the selection of pairs myself. Trader101, whoever that is, may well be one of the people who influenced the people in my circle of traders, and this is one of the things we explored.

The trick is not trimming and reversing too much, but enough to tip the scales into profit when market action is significant.

Watching for breaches of 24-hour highs/lows and using confirming pairs are sensible ways to keep trims'n'reverses within a framework of market-action-driven decision making.

All mq4 code I post is NOT copyrighted. I would acknowledge all who have taught me various tidbits of coding wisdom, but I only know them as Internet entities. I'm trying to pay forward that which was taught to me. Some of it I do give myself credit for figuring out for myself (I should be able to given my occupation). For example, no one showed me how to construct statements like this to give the desired results:


I am quite grateful to the trader/coder who showed me this code, for making EAs workable with most brokers:


This too is quite key, as different brokers have unique ways of mangling currency pair symbol strings:


Usually, brokers add only one mangling character to the end of the currency symbol strings. But in cases where they add more than one character, something like the following would be needed:


Note the use of "> 6" rather than "== 7" and the absence of the last parameter in the StringSubstr call. This has the effect of taking action on any string longer than 6 characters, and grabbing however many characters (1 or more) exist beyond 6 characters, and adding that substring to our symbol name strings.

If you you can sell this EA, go ahead, I don't care. Steal it, copy'n'paste from it, make it yours, make it everyone else's. I JUST DON'T CARE.

no-one's asking you to pump sunshine.

just some facts and figures please.

Hi Metacoder,
Thanks for sharing your system. Very sound idea indeed. Thanks.

Do u have some backtest results?

It won't run in the backtester because of the way it checks the current prices.

Hi

I've loaded it on 1 chart as directed. It's been about 4 or 5 hours and it isn't trading. How long before it trades?

Can you explain the Days & Numbers in the settings. Is there anything else we need to do?

I couldn't get the Looser EA's to trade either - it's probably the same problem.

I loaded onto a chart on IBFX and it opened a trade right away.

One thing that's not obvious is to make sure that all the symbols available are displayed in the Market Watch window. Right click on that window and select "show all". It won't trade unless you do this.

Good point stevegee58. Not having all symbols shown has tripped people up including me.

You might check the Max Margin allowed setting as well....
Depending on the size of the account the default settings might be to low to allow trades.

Thanks Metacoder, sorry if this sound stupid. Is this EA fully automatic or i need to actually run this on a demo and only enter those positive trades on live account?

Does the EA do the cut and reverse? Or that should be done manually.
Thanks

Yeah lot but little expended understanding...and so will need little expanded explanation... i found it intresting

rules no. 1 - GBPUSD, confirming pairs: GBPJPY, GBPCHF, EURGBP

1. GBPUSD is breaching high

2. Check GBPJPY,GBPCHF,EURGBP if they breach the high too

3. If all breach high we place buy for all above pairs



am i right meta coder?

too.

i have loaded in IBFX but no trade since 3 hrs. all symbols r in market watch.

i am very new to forex, file uploaded is mq4, do i have to make any changes. In 'post 5' some coding is given wud i have to edit that in given file. i dont know whts wrong. thx.

Close. EURGBP would have to be breaching low, not high.