Ben's Stochastic EMA auto trading robot by Steve Hopwood.mq4

SERIOUS WARNING

 

1. Most Forex traders lose all their money.
2. Using the robot posted here in trading Forex does not guarantee success.
3. Trading this robot could lead to serious financial loss.
4. Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
5. 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.
6. 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.
7. To trade this robot, you have to understand:
   1. How to use EA's.
   2. Stchastic and Moving Average indicators.

DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.

Intro

Ben (burn) contacted me by pm to ask me to code an ea to trade his sytem. This is what he wanted:

"What I'm looking to do is having a 50ema & Stochastic on the chart & for the EA to open a buy order when the ma is sloping up & the stochastic breaks out from oversold & to open a sell order when the ma is sloping down & the stochastic breaks out from overbought"


I like stoch and so coded this. It has peformed well on demo this week. In his pm, Ben stated that he is trading his sytem on M30 charts, sl 40 and tp 20, so I expected the ea to get murdered. Far from it; it has been profitable on demo.

Do not expect many trades - this one is not a trading tart. Early days etc, but I have yet to suffer a loser - and yes, I was as inwardly scathing of the r:r that the rest of you are. The fact that this EA has even made it to my demo machine says everything to those of you familiar with my work.

The EA needs the AllAverages indi to reside in your indi folder (and isn't this indi proving to be something of a Godsend?). You do not need it on your chart.

Stop loss and take profit benefit from Stealth Technology; trades are closed when the market crosses the tp/sl lines.

Have fun.





Matters of general interest



Read this post:
http://www.forexfactory.com/showthre...11#post4923611 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
Masterly summary of hedging: http://www.forexfactory.com/showthre...79#post4977179



Useful utilities/EA's/scripts

 

1. MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
2. Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
3. 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.
4. 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
5. My shell EA – the code I use to produce EA's so quickly. http://www.forexfactory.com/showthre...94#post4431794

Most promising trading EA's

 

1. Spider. I am trading this live. http://www.forexfactory.com/showthread.php?t=313680
2. 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 a variation of it manually.
3. Aurora, a PwR-based EU scalper at http://www.forexfactory.com/showthread.php?t=312936 has made a brilliant start.
4. Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
5. Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I have traded this live.
6. Rip: http://www.forexfactory.com/showthre...98#post4777998
7. The Beast: http://www.forexfactory.com/showthre...=1#post4135863

_________________________________________________________________________________
Posting restrictions
I have restricted the ability to post in this thread to: traders with at least 1 voucher; and traders on my 'buddy' list. I have done this because I do not want the thread cluttered with 'newbie' questions about the basics. New/inexperienced traders, this is not intended as a direct insult. What I want here is discussion with traders who fully understand what it is they are doing; when you newbs have been around a while, you will come to understand what a difference experience makes to the posts a member writes and shudder at the recollection of some of the questions you asked. I do. http://cdn.forexfactory.com/images/s..._the_floor.gif Go to your profile page; there is a link to the FF page that describes the voucher process.

Do not attempt to get around this by sending me pm's asking for help with your basic problems. Doing so will earn you an automatic ban from all of my threads.

I have set up a partner to my restricted threads at http://www.forexfactory.com/showthre...66#post3948666
There, you can post the questions that you cannot post here, about anything you need to know. Someone with the knowledge and experience you need will answer.

Traders/coders with experience who have not yet been vouched for, can get around this restriction be being added to my 'buddy' list; all you have to do is pm me to ask me to do this.

Thanks for starting this thread Steve

My pleasure.

I have another ea to code this morning; when that is up and running I shall post a link in the Spider thread letting people know that there are two new toys to play with; this should attract some wider attention here.

Excellent, thanks I'm looking forward to getting a whole week running this ea and seeing how it does....seeing how the thread does as well

FANTASTIC. Thanks very much Steve. This is an improvement on the Stoch EA you coded for use in NB system. As you may recall that EA had two versions ( a buy and a sell) and the user would place the EA on the chart after the price had gone into OS or OB zones. IMHO the addition of the All Averages would greatly improve the success rate of this approach. The trick is to identify the optimum MA settings for the different Time frames traded.

At present I am playing with two indicators (Recent Strength indicator by "HANOVER" and mladen`s "HEATMAP". Th idea is to identify trend (or strength) in higher Tfs (Weekly, Daily, etc) and then range trade the lower TFs (1H, 30m, etc), in the direction of higher TF using NB recovery in the process. In theory this would result in lower DD and lower number of recovery trades. Will let you know of the progress.

Kind Regards

As always astral, you come up with the ideas and I will code them.

I think anyone thinking of asking you to devote any of your valuable time should stick to this rule:
"Come back when you have traded this manually and successfully for a couple of weeks, then I will think about it"
.
As for the idea of using the indicators mentioned above, I have been utilizing them on and off for the last couple of months and I am pretty satisfied with the results. They are not part of a system as such but their use as a general filter for direction is pretty good (in essence doing the same job as the daily charts in NB ver10.0). The problem is I have few live accounts and up till now have been using them in a haphazard way (i.e a bit here and a bit there). From next week will utilize this filter with the Stoch EA with 3 levels of recovery and by Christmas should have a decent number of trades and will know the viability of the idea. If successful then over to you.

Kind Regards
P.s. If you really got the bug and can not wait till Christmas, you may find these two threads interesting:
Recent Strength
http://www.forexfactory.com/showthread.php?t=163158
CICR thread
http://www.forexfactory.com/showthread.php?t=317893

Wow. I haven't visited the cicr thread yet. That rs indi by hanover - fantastic.

I am already mentally plotting the next generation of EA's.

Nice one astral.

As you know I am illiterate as far as coding is concerned. In this post Hanover has given details of the output file which may be useful in utilization in an EA. http://www.forexfactory.com/showthre...67#post4747367

To me its all GREEK.

Kind Regards

Thanks. On this occasion, it isn't but thanks for trying anyhow. Cheers.

Had another look. I might be able to use this after all.

Sorry if I appear to be rambling, folks. I know what I am talking about. Just leave me to gibber quietly to myself.

theres a similar thing to this by NVP on T2W - correlation thingy. I must have spent at least 6 months if you put it all together trying to get some headway with these but i just find that putting the ma onto the pair directly is quicker that trying to isolate it as weaker - a friend has shown me another corrie thing - tbh i dont understand or have the knack for it.

i dunno you may get somewhere!

That is OK Steve, as you know this is all GREEK to me so I have not got the faintest idea. My suggestion is to contact Hanover (David) directly, he is a professional semi retired programmer and he is a very helpful person.

Kind Regards

For those who are interested I thought I'd post a couple of screen shots of how I trade this way manually, I don't take screen shots as I trade so these are just meant as a guide how I use it and not trades I've necessarily taken

This first one is an example of some long entries on the M30 chart, you'll probably notice that they're not MT4 charts but these are the ones I use for manual trading

http://i201.photobucket.com/albums/a...ups_30_min.png

This next one is an example of how you can open up some more entry options in a strong trending market, still using the M30 to define the trend direction and then using lower TF charts to take entries

http://i201.photobucket.com/albums/a...time_frame.png

Hi,

Is anyone running this ea at the moment? How have your results been so far this week? I had it set up running on a VPS, checked in for the first time this morning only to find that it had shut itself down for some reason so hasn't done anything so far, hopefully it will stay running for the rest of the week now

Yep. Chugging along quietly. Up just over half a percent so far.

Great glad it's working away.

Mine has been running all day and still didn't pick up any trades even though I've seen a couple of set ups so I think I've got a problem with either the broker or the VPS and will be trying a different broker and running it on my computer for the rest of the week to see how that turns out

Hello Steve

Do you have Stochastic with alert For MT5? ...or would you be able and willing to create one?