A Simple London Breakout

Hi guys, been doing some trading with this system & here are some thoughts :-

1. Trade filter = can we get the EA to recognise support/resistance lines ? eg we draw our lines & if they fall within the profit zone either a trade isn't taken or the profit target is adjusted to reflect the S/R provided it isn't less than a nominated % of target.

2. Win trades = Personally I would like a pair to stop trading after a win - don't want to be in the market more than i have to ! I can do this manually but be nice to have the option on the EA.

3. Pattern recognition = it does seem pairs go thru periods of poor/good performance - I noticed this particularly on pairs like EUR/GBP & EUR/CHF. Can the EA track winning session performance & choose pairs accordingly ? eg check last 20/10/5 sessions & if win rate not > 60% etc = no trade.

4. Trade entry = I have been experimenting with renko charts for this strategy & wait for a close of a bar past entry line (seems to work ok - can't really do this with 5 or 15 min charts as the move is often done within that bar) - can the EA have this as an option ? Also, noticed when I had set max trades to 2 that pending orders were being immediately cancelled (trading finished for the day) - is the EA taking pending orders as trades ?

I like the system & would like to continue researching/optimising - squalou - would be grateful if you could look at the above.

pipsta1

Hi, maybe a pic will show what i mean a little better - G/U shows 2 days where I would not have taken shorts but would be happy with longs due to the presence of S/R.

pipsta1

ok the setup posted here worked quite good this week..
on the contrary the mataf stuff is too large and hard to interpret..

bonus: i noticed highly profitable box time on gbpusd
GMT+2 !!! [08:55-09:00]
buffer 10-15 pips (not optimized)
time to close 22
target 100-150 (not optimized)
trail = 50 (not optimized)
sl opposite side
do not delete opposite orders..
if u can test it dont forget to take summer/winter time change..
yes, because i followed on a GMT+2 broker...

now i will filter which are the best days => as posted for eurusd..

as we add up new data every week = we optimize our entry times every week..

i need people to make same table for at least other 6 pairs
contact by pm

missing data on gbpusd m15:
from:
-2010, march 15 to march 25
- 2010, may 10 to june 11

For those who are interested, I had posted a modified version of the strategy here.

1. GBPUSD...1 HOUR CHART..... on the break of past latest 3 bars/candles(buy if the 4th candle/bar breaks the past 3 candles from the bottom or sell if the 4th candle/bar breaks the previous 3 bar/candle from the top) ..the target should be the immediate high of the previous swing...and the stoploss should be till it breaks the latest 3 bars/candles on the same time frame

2. ALL THE PAIRS....4 HOUR CHART..on the break of past latest 3 bars/candles(buy if the 4th candle/bar breaks the past 3 candles from the bottom or sell if the 4th candle/bar breaks the previous 3 bar/candle from the top) ..the target should be the immediate high of the previous swing...and the stoploss should be till it breaks the latest 3 bars/candles on the same time frame

I would be thankful

[email protected]

Hello,

First, thanks for all the work and good ideas inhere!

I've read part of the thread and installed the EA V4 (in expert) that I found at the bottom of #1 together with the indicators (in scripts).

I get the same message/error as Xicecube describes in this thread: "The robot has been suspended. Reason: some indicator settings are missing. Please verify objPrefix in the Indicator and the EA (objPrefix is currently set to LB- in the EA).

I checked both the indicator and the EA and saw in both of them the objPrefix set to LB-.

What do I need to do more to get this going?

Regards,

Ben

I have been using the London Breakout EA-V4.0 for 4 weeks now and its going well. What I would like to do is alter the Buy & Sell entry levels, and alter the HalfTP & TP fib levels. I would like to enter at breakout of box and take half profit at 127 Fib level and full take profit at 138 fib level, with SL staying as is.

Sorry I know this may be off the subject, but have found the profits small but constant at the 127 fib level with an entry at break of box and would like the ea to do this for me.

My question is how do I and can I make these alterations to your London Breakout EA-V4.0 ? I have the London BreakoutV9.2 indicator & the London Breakout scriptV3.1 running with the ea.

Hi,

The problem I described (see quoted message) is solved!

Regards,
Ben

Hello,

"BreakEvenPips"- when "BreakEvenPips" is >0, SL is moved to BE+"BreakEvenProfitInPips" when price has reached BE+"BreakEvenPips". Works independently from "AllowHalfClose" option (but uses the same BreakEvenProfitInPips value); Will also be trailed if TrailingStop is selected; (inspired from Steve's MPTM EA...)

According to the above (found in first message of this thread),
I can leave BreakevenPips at 0 and SL will stay as planned. What I saw is that keeping it at 0, the stoploss was moved to BE+0Pips.
Maybe I did set wrong something else?
Or, should I simply set the "BreakEvenPips" to minus 15 (-15)?

I hope someone is able to answer this for me,
Thanks in advance!

Ben

Here are my settings:

Hi,
I have been reading the previous post and I'm keen to learn more. I have to admit I don't understand EA metatrader thing- how it works etc!(I've downloaded indicators no probs. before from forums). London breakout full trading package zip I have also down loaded which is saved on a down loaded file. when I click on the file, three more files appear indicators, scripts and !london breakout. should I then selct extract files, if so where do I save them on metatrader?
I would be grateful if someone could explain in simple non computer jargon
cheers jbell

I like breakout systems. I'm adopting part of this to my own trading style.

My question is, what pairs should this London breakout be put on?

I'm thinking all mixes of the following:
USD
CHF
EUR
GBP

Am I missing anything?

Thanks!

This works fine but the program gives an error message.
He gives an alarm with: order send failed. The EA does not place any orders.
He does this with any forex pair. I have tried everything but nothing works.

I sincerely hope someone can help me and can tell me what I do wrong.
Thanks in advance
Coen

Hello everyone!


I'm a newbie here in FF, but I've been trading forex since two years. Still yet looking for a profitable system in longterm trading. Finally I think I've found something similar to "Simple London Breakout". I was trying to use EA posted in this thread. However I'v spotted few disadvantages during working that EA. Could anyone please answer my questions:

1. Does EA open only pending orders? Is there possibility to open orders by market price? For example it is hard to place pending order 3 pips from open level (not every broker allows that).
2. Don't know why, but function "MaxRisk" doesn't work for me. I put MinLot size 0.2 and MaxRisk 5%. EA opens orders with 0.2 lot. I know I have larger account so that 5% risk would be much bigger. Does anyone know how to solve that problem? Have anyone had such problem (I couldn't found that on this forum)?

If someone could answer my questions, I would really appreciate.
Regards and all the best for all of you forex fellow traders!

Hi Mer, i was using LB on GBPUSD & worth a lot, although it was 2:1 ratio but still consistence profit after half a year using your indicator. Thanks a lot

http://i937.photobucket.com/albums/a.../London1-1.jpg

http://i937.photobucket.com/albums/a...eakout/LB1.jpg

Please, please don't shout at me, I have a question.
This is a reasonably long thread and to save me having to read all of it again, could some generous soul explain how (If possible) I can lengthen the lines for,'Profit target', 'Entry', & 'Initial Stop'. Or point me at the post.

many thanks, & a Happy New Year to all.

Sorry guy's, stupid question, found it.

is there a simple EA for that indi in this thread?

Stimpy

Go first post
Download package . zip
EA works with one indi London Breakout V9.1

thanks bert.