Automated trendline trading EA + indicator | Forex Factory

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Automated trendline trading EA + indicator

  • #1
  • First Post: Edited 6:55am Oct 22, 2011 6:13am | Edited 6:55am
Hello all!

First of all I would like to say I did NOT make this indicator and EA, nor do I know of the original source (I got it from another forum, but that's not the original source either)

Attached you will find an indicator and an EA, it is quite (read:very) slow in backtesting, but it has shown to be quite promising in forward demo testing according to the old thread (see screenshot, taken from the old thread). Personally I have forward demo tested it for 3 days so I can't make any conclusions yet but it's worth a shot!

note: the indicator itself does not draw the trendlines, it draws S/R areas based on recent highs and lows, the EA draws the trendlines and uses them for the orders

What it does is draw trendlines, and then place buy/sell orders according to those trendlines.

Please do not use this on a live account as it still seems to have a few bugs.

I just found this EA quite promising and thought I'd share, if anyone wants to fix bugs or add something to the code, feel free to do so, and I will try to do so too but I can't make any promise as I consider myself just an amateur when it comes to MQL coding, but because of my java/c++ background I do learn fast (everyone needs to start somewhere right?)

Have fun guys!

P.S. Monday I'll probably set up a myfxbook page for the EA, you guys are free to do so too and mess around with settings a bit!

Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 28 KB



The files:

Attached File(s)
File Type: mq4 ZZ SR TL Indicator.mq4   8 KB | 9,090 downloads


Attached File(s)
File Type: mq4 ZZ SR TL.mq4   12 KB | 8,260 downloads
  • #2
  • Oct 22, 2011 8:59am Oct 22, 2011 8:59am
Maybe a nice addition to this EA would be to use stochastics and other methods to detect a bounce from the trendline so we can trade that aswell as the breakouts

optimisations definately should be carried out in the code as it's slow as hell on backtesting, that's becoming obvious
  • #3
  • Oct 22, 2011 7:46pm Oct 22, 2011 7:46pm
A random 2-3 week backtest I just did on 1 hour timeframe (somewhere in may 2011)...

Settings I changed: depth, backstep and deviation changed to 1, risk is lowered to 0.05 and barsmax to 50...

Really it was me just messing with the settings, but it looks more promising than the original settings which are good for a few trades but then crash horribly...

consecutive profit looks good, losses look minimal, 11% max drawdown is reasonable IMO

looks like a nice base for a good and profitable EA, can't wait to forward test this some more!

Perhaps some filters can be implemented to minimize loss even further and filter out the more profitable trades

Attached Image (click to enlarge)
Click to Enlarge Name: TesterGraph.jpg Size: 32 KB
  • #4
  • Oct 22, 2011 11:00pm Oct 22, 2011 11:00pm
Quoting Raykoid666
Hello all!

First of all I would like to say I did NOT make this indicator and EA, nor do I know of the original source (I got it from another forum, but that's not the original source either)

Attached you will find an indicator and an EA, it is quite (read:very) slow in backtesting, but it has shown to be quite promising in forward demo testing according to the old thread (see screenshot, taken from the old thread). Personally I have forward demo tested it for 3 days so I can't make any conclusions yet but it's worth a shot!

note: the indicator...
Hello Raykoid666, thanks for the share, pls kindly share your demo result. Thanks
No Risk No Reward
  • #5
  • Oct 23, 2011 4:13am Oct 23, 2011 4:13am
I will do, as I said I'm gonna set up one or more demo accounts and have it run monitored on myfxbook with different settings

Anyone else wanting to run a demo account and test it out a bit with different settings and/or code a bit on it is welcome to do so!
  • #6
  • Oct 24, 2011 10:55am Oct 24, 2011 10:55am
I'm still on my trading journey but have had an interest in trendline trading since reading the first book i purchased some 6 years ago, Trading classic chart patterns by T Bulkowski. His studies show an edge from defined entries and exits using patterns and trendlines.
I have used EA's for testing strategies and ideas. My personal findings are that the more you trade, the higher your costs, the more of an edge you need to overcome the trading costs. To me it's all about the edge then managing return and risk.
Through his studies, although limited Bulkowski does show there to be an edge to be had trading trendlines. I have found edges are hard to come by and only discovered one of my own.
Having tried this Ea on Alpari daily and found error 130 in the journal. It doesn't appear to be working on Alpari 5 digit. Can you explain how the ea should be trading , entry exit and check it is working as it should. I'll gladly devote a computer to testing over longer timeframes and some time for analysis but cannot help you with coding and making it function as it should.
  • #7
  • Oct 25, 2011 3:44pm Oct 25, 2011 3:44pm
Set up three demos of this EA on myfxbook page. Feel free to follow

Thanks for sharing Raykoid, hope this goes well
  • #8
  • Oct 25, 2011 3:48pm Oct 25, 2011 3:48pm
Quoting acostafulano
Set up three demos of this EA on myfxbook page. Feel free to follow

Thanks for sharing Raykoid, hope this goes well
great, I didn't have the time yet to do this myself today unfortunately

what settings did you use?

I found the bottom 3 settings (the ones starting with "ext") to be quite profitable in backtesting when all set to 1
  • #9
  • Oct 25, 2011 4:13pm Oct 25, 2011 4:13pm
Quoting Raykoid666
great, I didn't have the time yet to do this myself today unfortunately

what settings did you use?

I found the bottom 3 settings (the ones starting with "ext") to be quite profitable in backtesting when all set to 1
I was trying defaults;

I'll change them all to 1 and see how it goes!

Also, I turned off the M1 demo as it turned out to use too much of my CPU! X_X

Thanks a lot for everything. Please make sure to share your myfxbook demo so we can all track! The more testers, the merrier
  • #10
  • Oct 25, 2011 4:23pm Oct 25, 2011 4:23pm
Also Raykoid: What TF would you reccommend? Do you think M5 and M15 are too short?
  • #11
  • Oct 25, 2011 4:49pm Oct 25, 2011 4:49pm
Quoting acostafulano
Also Raykoid: What TF would you reccommend? Do you think M5 and M15 are too short?
the settings where I changed everything to 1 was only profitable on H1 timeframe, may be less or not profitable on M15 or M5, you may need to find other settings for those timeframes.

I personally found it to be only profitable on H1, but it's worth a shot to mess with M15 and M5 settings (and H4 and D1 for all that matters)

maybe tomorow or so I'll try to find a good filter to filter out some bad trades, perhaps just a simple 200 SMA direction check and wether the price is above or below it

have fun!
  • #12
  • Oct 25, 2011 4:50pm Oct 25, 2011 4:50pm
Quoting AndrewLawler
I'm still on my trading journey but have had an interest in trendline trading since reading the first book i purchased some 6 years ago, Trading classic chart patterns by T Bulkowski. His studies show an edge from defined entries and exits using patterns and trendlines.
I have used EA's for testing strategies and ideas. My personal findings are that the more you trade, the higher your costs, the more of an edge you need to overcome the trading costs. To me it's all about the edge then managing return and risk.
Through his studies, although limited...

I could try to fix this but I'm a rookie coder myself so I don't know...

I had the 130 errors in backtesting too yet it traded just fine (probably because backtesting data is 5 digits)
  • #13
  • Oct 25, 2011 5:19pm Oct 25, 2011 5:19pm
Quoting AndrewLawler
Having tried this Ea on Alpari daily and found error 130 in the journal. It doesn't appear to be working on Alpari 5 digit. Can you explain how the ea should be trading , entry exit and check it is working as it should. I'll gladly devote a computer to testing over longer timeframes and some time for analysis but cannot help you with coding and making it function as it should.
Usually, error 130 is linked to the EA sending invalid stops. You may find that, in order to use the EA on a 5 digit broker, you need to add an extra 0 to the TP/SL numbers. I hope this solves the problem.
  • #14
  • Oct 25, 2011 7:05pm Oct 25, 2011 7:05pm
Quoting Alan5616
Usually, error 130 is linked to the EA sending invalid stops. You may find that, in order to use the EA on a 5 digit broker, you need to add an extra 0 to the TP/SL numbers. I hope this solves the problem.
Or you have it set no SL and use a MPTM (multipurpose trade manager) to set your SL. Some brokers wont allow EAs to set TP at the same time as taking an order. It must be a second step process.
  • #15
  • Oct 26, 2011 6:56am Oct 26, 2011 6:56am
Hello Raykoid666,
Could you please publish your "myfxbook" page that you've set up for this EA?
All the best

Quoting Raykoid666
Hello all!

First of all I would like to say I did NOT make this indicator and EA, nor do I know of the original source (I got it from another forum, but that's not the original source either)

Attached you will find an indicator and an EA, it is quite (read:very) slow in backtesting, but it has shown to be quite promising in forward demo testing according to the old thread (see screenshot, taken from the old thread). Personally I have forward demo tested it for 3 days so I can't make any conclusions yet but it's worth a shot!

note: the indicator...
  • #16
  • Oct 26, 2011 10:34am Oct 26, 2011 10:34am
I am very sorry guys but I have not had the time yet to set up a myfxbook test for it yet.

Also, I see you are testing it on your myfxbook on M5 and M15 and it's failing horribly so it seems clear that this should be used on H1, don't worry though according to backtesting with the 1-1-1 settings is should be in a trade 2-3 times a day, give or take a few.

Hopefully today I'll post a simple filtered version for your testing

@nanningbob, you are absolutely right, I seen it in other EA's but I really am an MQL coding rookie, I'm no steve hopwood of course

if anyone with coding experience wants to work on it too, have a go!
  • #17
  • Oct 26, 2011 4:04pm Oct 26, 2011 4:04pm
Quoting Raykoid666
I could try to fix this but I'm a rookie coder myself so I don't know...

I had the 130 errors in backtesting too yet it traded just fine (probably because backtesting data is 5 digits)
Can you post a link to where you got it from and what broker you are using. Could only find a few vague posts in an old tsd forum. I'd like to do some long term backtests on longer timeframes to see if it will show an edge. If it has an edge maybe someone would take the time to help out with the coding.
I'd like to know exactly what it should be doing, (how its defining trend lines and logic for placing and modifying orders) and check it is doing what it should and the errors are not effecting it before i do any tests. I get the errors with it on the lower timeframes and it opens and closes but on the daily wouldn't work for me.

Kind Regards
  • #18
  • Oct 26, 2011 4:14pm Oct 26, 2011 4:14pm
Quoting Alan5616
Usually, error 130 is linked to the EA sending invalid stops. You may find that, in order to use the EA on a 5 digit broker, you need to add an extra 0 to the TP/SL numbers. I hope this solves the problem.
I know what you suggest works with some but there are no sl tp settings. I've had a look through the code and the stops seem to be based on highs and lows but that's all i can tell.
  • #20
  • Edited 3:18pm May 17, 2012 8:17am | Edited 3:18pm
deleted sorry wrong thread
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