- Most Forex traders lose all their money.
- Using the robot posted here in trading Forex does not guarantee success.
- Trading this robot could lead to serious financial loss.
- Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
- This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention - turning it off at news time, that sort of thing.
- At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
- To trade this robot, you have to understand:
- How to use EA's.
- The Moving Averages indi.
- The Fractals indi, and what fractals are when used in Forex trading.
DO NOT USE THIS EA ON A LIVE ACCOUNT
I came across this thread a couple of days ago: http://www.forexfactory.com/showthread.php?t=312339
Here is my understanding of the system:
- Very short-term scalping
- M1 EU chart
- 2 moving averages:
- 10 EMA
- 40 EMA
- Fractals indi
- Buy when:
- 10 ema has crossed the 40 ema upwards
- a fractal has formed underneath a rising candle
- Sell when:
- 10 ema has crossed the 40 ema downwards
- a fractal has formed above a falling candle
- Stop loss: 10 pips. Enter pip values as 'proper' pips; the bot adjusts to x digit crims.
- Take profit: 12 pips
The attached MA_Crossover_Signal indi goes in your indi folder; you need it in the folder; you do not need it on your chart. If you use it on your chart to visually confirm the ma cross, remember to set the inputs to 1, 10, 1, 40 respectively so that it shows the information that jiva is working with.
I have included trading hours and suggest that trading during the the European session might be best. These inputs work on you computer's local time, so you need to know what time it is where you live that the European markets get going and close down.
Trading distance controls
A robot cannot use judgement, so I have included two inputs to give you some control over the distance from events that jiva is allowed to trade:
- LookBackForCrossCandles: the default equates to two hours. If the cross occurred earlier than two hours ago, jiva will not trade.
- LookBackForFractalsCandles: a fractal is definitely set three candles after the hi-lo first forms. The default enforces waiting for this. If you reduce this input, jiva will spot a forming fractal earlier on, but might trade prematurely if the fractal subsequently disappears.
The 'Trading Direction' inputs allow you to control the direction jiva can trade. If you only want it to trade in one direction, then set the other to false and turn off AutomateDirection.
From mysticgenie, I learned this:
- if the market is below yesterday's pivot, it tends to fall
- if above, it tends to rise.
From Ibuks, I learned this:
- if the market is above the H4 candle open price it tends to rise
- if below, it tends to fall
I have added two filters that allow you to take advantage of one or both of these ideas. Leave AutomateDirection set to its default of true, then select UseH4 and/or UsePivot to tell jiva to work out the trade direction for itself.
2 stage trades
Set CriminalIsECN to true if your crim insists on 2-stage order sends.
A few posts down, jiva suggests monitoring fractals and MA crosses on different time frames. To cater for this, I have added time frame inputs to the fractals and moving average inputs sections. You enter these as minutes.
I have no idea whether this EA will prove to be profitable. On my development demo, it finished today slightly in profit; its performance improved dramatically once I started using the H4/D1 pivot filters. Have a play with it and see.
- MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
- Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
- Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 Also at http://www.forexfactory.com/showthre...98#post4709098, which includes a template for both USD and the Euro.
- Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthre...10#post3830610
Most promising trading EA's
- BigBob: an implementation of Nanningbob V10. http://www.forexfactory.com/showthread.php?t=309980. The strategy is fantastic and I am having a ball trading it manually. The EA is the most promising I have coded so far.
- Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
- Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I have traded this live.
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863