Any coders from the UK?

Hi,

I''ve had no response from uk programmers so opening this up to anyone who wants a go!

EA to run 24/5 on the euro/usd .

Esssentially this will be a 'scalping' ea that seeks to exploit repetitive price behaviour that occurs daily on 'average' 3 times per day,
although historically some days there are no trades at all.

Visual backtest for last 3 months are good but the data I have does not go back any further, so the results are inconclusive at this point.

This method was developed after watching countless hours of price movement.
What I noticed was that even in strong uptrends there were retracements, but I didn't know where to hop on to the trend.
So I used a pair of ma's and noticed that often price would seem like it came back to the ma's, but sometimes it touched them and sometimes it went through. So I used an offset ma to get me in only if price hit it.

So this method uses a 5 and 8 ema but this isn't a crossover method.
The 5 ema has an offset ma 14 pips above and 14 pips below it.
When the 5 ma is above the 8 look for retracement to the lower offset ma. This is the long entry signal. Reverse for short.

As you can see from the chart the lower offset ma is the entry and the higher one is the target.

The two attached charts are 4hr cable and 15 pip range eur/usd.
So you can see the method should be able to be used for any kind of price chart.

If anyone is interested the ma's and offset ma's and stoploss should be variables .

Thankyou to anyone who wants to build this ea.

Regards Jason

I cannot change the title of this thread? but this method is available to any coders who think that it may have some value.

Thanks Jason

Same thing on the daily

Cheers J

Hey Slimcat

i am an EA coder from London, i think its a good idea coz i came up with the same idea a year ago

the crucial difference is that i was trading that ONLY during the night
and on specific currency pairs only.

since u are essentially entering countertrend trades,( i.e. sell when the price just went up) even though you are trading with the trend.

before going into too much detail i can garantee that the system will not be profitable in the long term in its current form.

definatly not 24/5, i have done extensive research there and i have tried that

even tried the similar thing on mt5 and then optimized through hundreds of thouthasands of combinations

the there is right way to decide whats the right parameters for you signals
i.e. some parameters setting give you +20% on month and - 33% the months after and there is no way of knowing when to stop

if you want to trade this during the day, i would strongly consider filtering for news...

Hi Hawk,

thanks for your input.
Glad you had the same idea

Have you already coded and ea for this? If so can you post it please so I can test it on range bars??
What I have noticed from observation of the charts is that this will work best (if at all) on a range bar chart as typically this will smooth the price and the ma's also.

A standard 4hr chart with it's small and large bars will sometimes play havoc with the ma's messing up the entry price also.

Range bars seem to address this problem.

With regard to the news I have often thought that this may impact profit negatively but looking in the past at the range bar charts, it seems that it makes no difference really from a visual point of view at least.

Anyway thanks again for your valued contribution

Cheers J

Hey Slimcat

my idea was slightly different, i was looking for current price proximity to the fast ma, adjusted by the distance between the fast and slow ma

singal = (fast_ma - Bid)*adjusted*(slow_ma - fast_ma)

the code has been thrown away
but i can still write it since its a very simple system

just need to make sure that i got the specs right:

for long trade:

1. fast_ma > slow_ma
2. (Bid + x_pips) < fast_ma

i'll make sure the ma parameters and x_pips setting are external variables
so you can play around with them and run optimizations

if the specifications are correct i can just set wirte the EA, rather quickly

i still stand by what i said, i.e. it wont be profitable
but i think that its a useful bit of research

Hey Hawk,

yeah that's correct for the signals i think but the take profit would have to be included and stoploss to be added also.

It would also have to be a stop and reverse too.

I don't trade this live as an ea will give me the confidence to know whether it is valid or not.

The reason i think it has value is that as price moves, for example a buy signal is generated, the price moves away from the ma's so the take profit is equal to or greater than stoploss.

I would love to see this ea and run lots of backtests, I just have a feeling that it may provide an edge, here's hoping

cheers J

Hey slimcat

here is your EA

i am not sure what you meant by :
"It would also have to be a stop and reverse too."

so i just wrote it in the current form and can always slot that in later

i have backetested it and it does trade quite a bit with the default settings
but you'll need to test it yourself as well

i would also suggest to backtest in the visual mode to make sure that it indeed does what you want it to.

i named it Slimcat, since your idea is different from mine, hence its your EA

i've attached the source as you can see its very simple

let me know how it goes

thanks for your time Hawk really appreciate the fact that you have helped me out.

Let you know if I find anything good

cheers J

Hi Hawk,

Wow, this is great fun, it's the first time I 've ever ran an EA.

Done some tests and watched how the ea places the trades and have noticed that some code needs adding or amending:

long trades

1. fast_ma > slow_ma
2. (Bid) < fast_ma

condition 3 must be met also

3. (Bid + x_pips) < slow_ma

this will ensure trades are only placed either above or below BOTH ma's.

Example:
long
5 ma is above 8 ma and price is x pips below 8 ma
short
5 ma is below 8 ma and price is x pips above 8 ma


Essentially then trades are placed using the 8ma and 5 ma is used for confirmation.

Take profit is the important part eg
long tp
(Bid) = fast_ma + x pips
vice versa for short tp

Hope all this makes sense?

If this works as I think it should then I'm coming down to london and we're celebrating with champers and strippers mate

Cheers Slim

Hey Slimcat

i am glad you are excited by this stuff

here is version 2, with everything added

have fun

great stuff thanks Hawk,

can't wait to test this out

let you know how it goes

Cheers Slim

Hey Hawk,

this ea is using the Simple MA ,
I wondered why it was entering at the wrong times.
all the work I have done on this strategy uses Exponential MA which is smoother than SMA.

I tried changing the code but it didn't work

cheers Slim

Hey Slimcat

no probs its ema now

enjoy

Hawk,

I've managed to change the sma to ema but the ea still does not take the correct entries??

see attached pic

conditions for long were confirmed
5 ema greater than 8 ema and price below 8 ema at proximity 35 pips

What am I missing?

cheers Slim

Hey Slimcat

everything works for me in bakctest

i think the problem is with settings
i have 5 digit broker so my proximity setting are set to 140 be default

just make sure that your TP is 10 pips
SL is 10 pips
and proximity is 35 pips


you can change that directly in the source at the top
so you wont have to set it every time you apply the EA again

let me know if that fixes it

and try backtesting for a few weeks it the best way to be sure

Hi Hawk,

i'm using alpari and they are 5 digit broker too, so i don't think that's the problem.
if you see in my last post on that 4hr chart the previous sell signal was where i would have expected the ea to trade and got stopped out at 60 pips loss, so i can't see why it didn't take the next buy trade when all conditions were true.

I even changed the proximity to 10 to make sure the ea would take the trade but that didn't work either.

have tried doing what you said in your last post but it still doesn't take the trade.

can you set 5 and 8 ema on yours for 4 hr cable at proximity 35 and post your screenshot so i can see yours working please!

set it to run from 22nd sept

cheers slim

It looks good visually like most things do, but there huge ranges and unless you get pretty near the bottom or have very loose SL's there isn't much point, sadly getting bottom on a EA is impossible or very near.

Hey Slimcat

it works just fine fore me in backtest.

at the top of the report pic u can see the broker, the dates of backtest and all the setting i used.

pls try and replicate that on your machine

if it still doesn't work for you let me know i'll try to forward run it on demo
but will all other EAs that i wrote, if it work in backtest it work the same way in forward run.

Have a look at the 3 trades pic aswell

is that what you were expecting from the system?

Hi Hawk,

yours seems to be working as it should do, can you post v3 ea as i'm using v2 which i amended, perhaps that's the reason mines not working.

cheers J