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Attachments: Candle Based EA
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Candle Based EA

  • #1
  • First Post: Dec 16, 2011 11:30pm Dec 16, 2011 11:30pm
Enter Long when:
Current price is higher than previous candle's high

Enter Short when:
Current price is lower than previous candle's low

Exit:
a) Trailing Stop Loss
b) Signal in opposite direction

TF:
Higher the better. Daily works best.

This is really simple idea, though seems to be quite profitable. There are some major drawdowns, and periods when this system works better and other when it runs worse. I'm looking for an idea to filter out losing periods, or perhaps some MM rule. I already tried Grid orders, Stochastic and MA all with many different inputs. Despite my tries the original version still works best. Attached you have an EA which you need to compile before testing. Sorry for unprofessional code layout, but I don't consider myself professional programmer.

INPUTS:
TrailingSL = 200; // Trailing Stop Loss set by default to 200 pips (5digit broker)
BE = true; // Move Trailing Stop Loss to Break Even
DynamicLot = true; // Increases Lot value proportionally to increase of account balance
LOT = 0.01; // Disregard if DynamicLot = true; Set on whatever you want if false.
SL = 200; // I guess it's clear,
TP = 2000; // and this one too

Have fun and let me know what do you think.
Attached File(s)
File Type: mq4 Candle Based.mq4   8 KB | 3,507 downloads
  • #2
  • Dec 17, 2011 5:40am Dec 17, 2011 5:40am
I setup this for scalping 5 min candle but got OrderSend error 130
Quote
extern double TrailingSL = 2;
extern bool BE = true;
extern bool DynamicLot = true;

static datetime new_time = 0;

extern double LOT = 0.01;
extern int SL = 5;
extern int TP = 5;

Can you check?
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  • #3
  • Dec 17, 2011 11:23am Dec 17, 2011 11:23am
I did set it up the same as you and it works. The difference is that I have 5 digit broker and I did set it up the following way:
TS: 20 which means 0.00020
SL: 50 which means 0.00050
TP: 50 which means 0.00050
but if you are sure you have 4 digit broker I don't think it is the case.

The problem may lie in accountBalance function depending on how little deposit you've set. Try to disable it. Perhaps there is also limit to your Lot value, and you broker doesn't use 0.01 lot increments. It may all depend where did you get your MT4 from.

Also setting SL to 5 pips doesn't work that much. With the first tick after the order is openned it will decrease to 2 pips due to TS. Try to increase TS.

I tried many different Time Frames, and the higher it is the better it works. I haven't found any profitable settings that could work on M5.

Let me know if it was of any help
  • #4
  • Edited 1:09pm Dec 18, 2011 8:33am | Edited 1:09pm
I think your default settings is good, i tested with 1 lot size to understand maximum utilization..!!!

What you think change "Dynamic Lot" to "Martingale" increment in 1 2 3 4 5 6 7 8 9 ..... ?

Lot increase only when loss, until profit trade happen, because more than 50% is win ratio.

http://i.imgur.com/QKD2G.png
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  • #5
  • Dec 20, 2011 8:00am Dec 20, 2011 8:00am
Quoting Casper C.
[font="Verdana"][color="Navy"]Enter Long when:
Current price is higher than previous candle's high

Enter Short when:
Current price is lower than previous candle's low

Exit:
a) Trailing Stop Loss
b) Signal in opposite direction

TF:
Higher the better. Daily works best.

This is really simple idea, though seems to be quite profitable. There are some major drawdowns, and periods when this system works better and other when it runs worse. I'm looking for an idea to filter out losing periods, or perhaps...

this one keeps giving me ordersend error1, ordermodify error 130 in back test..did u experience it ??
  • #6
  • Dec 23, 2011 1:54am Dec 23, 2011 1:54am
Quoting majeeshkv
this one keeps giving me ordersend error1, ordermodify error 130 in back test..did u experience it ??
I am getting the same thing too.
  • #7
  • Dec 23, 2011 2:09am Dec 23, 2011 2:09am
Quoting chick3n420
I am getting the same thing too.
i thik this guy is not active in this thread..w8ing for his reply
  • #8
  • Dec 23, 2011 6:40pm Dec 23, 2011 6:40pm
Sorry I've been busy with Christmas and family lately.

I changed one thing in the code. When DynamicLot was set to true it calculated the value in more than two decimal places. It might have been the case but it didn't have to be. I never got any problems like this as MT seemed to fix the lot value to usable amount itself.

Anyways here you have another version together with Alerts that will show up in the Journal so you will see what parameters of the order are wrong. Error 130 doesn't explain much.

Let me know what it shows you.
Attached File(s)
File Type: mq4 Candle Based v2.mq4   8 KB | 2,127 downloads
  • #9
  • Dec 23, 2011 7:06pm Dec 23, 2011 7:06pm
Quoting Casper C.
[color="Navy"]Sorry I've been busy with Christmas and family lately.

I changed one thing in the code. When DynamicLot was set to true it calculated the value in more than two decimal places. It might have been the case but it didn't have to be. I never got any problems like this as MT seemed to fix the lot value to usable amount itself.

Anyways here you have another version together with Alerts that will show up in the Journal so you will see what parameters of the order are wrong. Error 130 doesn't explain much.

Let me know what it...
thanks casper c.. post the results soon,.
  • #10
  • Dec 23, 2011 7:20pm Dec 23, 2011 7:20pm
leandar, I'm not a big fan of martingale although some systems appear to be profitable with proper settings, they never worked for me. The best thing on FF I've ever tried was mGridEA. I didn't have time to follow the tread but I made some modifications on my own and they didn't turn out profitable in a long run. Perhaps it wouldn't be a bad idea to take a look on how the tread developed. I'll do my best to code your idea into CandleBased this weekend. It's worth checking how it may change the outcome.

Daily bars work best on the backtests however I'd love to decrease the timeframe to H4 or maybe H1. I used to do 2-3 times more than the pip difference between day's open and close on a daily bases when I traded manually. My lack of time to trade led to developing inconsistent approach which then led to huge drawdowns, so I ended up doing EAs. Anyways I believe lower the timeframe more pips to harvest. What do you think?

I was on a train two days ago watching electric lines in the background. Divergence between them showed exact moments before all of them started to move up before hitting the poles. (Does divergence work in nature too?) It made me realise that one of the most powerful tools to prepare for strong turnaround movements is Divergence on RSI. I'm not sure yet how to code such thing but I know it's possible. What do you think about this? I looked at the charts and it seems that it may work even on lower TFs combined with CandleBased.
  • #11
  • Edited 7:54pm Dec 23, 2011 7:52pm | Edited 7:54pm
Ive doubled a few accounts using this idea. I call it retard trading. (its not my attempt to anger anyone its just what I call it)

If you buy the break on gpbusd 4h or sell the break of previous bar you will win almost every trade, IF you run large a large stop and small tp 10-20 tp using $1 a trade you make good money. But i don't do that.

Now I use daily only with a 10-15 pip buffer a 50-100 tp depending on the pair.

so example: 300 pip sl 100 tp gpbusd with 10 pip buffer. If you were trading 10 dollar standard lot you might only grab 10 pip per chart, I run 5-7 charts.

buffer means it has to break X amount of pips or no trade (the only other filter that works is manual set trades in trend direction of daily and turn off screen)
I paid for my EA but i only use it when i cant be home for new day bar.

I hope that all made sense. I have a cast on so I cant type.

Thursday was 100 pip (see pic)
wed no trade as buffer was not breached
Tue was 100 pip
Monday and Sunday were winners too almost every day price breaks up or down previous day. I love inside days....i max out account on the following day.
yes i left alot on the table but whe i get greedy i blow up account
Attached Image (click to enlarge)
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  • #12
  • Dec 23, 2011 10:52pm Dec 23, 2011 10:52pm
What are the settings for trade GOLD, SILVER, USD/JPY, OIL ...?
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  • #13
  • Dec 24, 2011 4:18am Dec 24, 2011 4:18am
Quoting Casper C.
[color="Navy"]Sorry I've been busy with Christmas and family lately.

I changed one thing in the code. When DynamicLot was set to true it calculated the value in more than two decimal places. It might have been the case but it didn't have to be. I never got any problems like this as MT seemed to fix the lot value to usable amount itself.

Anyways here you have another version together with Alerts that will show up in the Journal so you will see what parameters of the order are wrong. Error 130 doesn't explain much.

Let me know what it...
Thanks for the update. It's working fine for me now. I was wondering how does the BE function work?
  • #14
  • Edited 11:44am Dec 24, 2011 5:17am | Edited 11:44am
And it appears to me that the EA only make one trade at any given time? So until we are at a loss or at TP for it to open another trade?

It would be nice for it to continuously stack trades.

Another suggestion is for the EA to set a trade to BE after a given #'s of pips.

The EA would have about 6 successful daily trades for EURUSD (435+ pips depending on if you take profit daily or let it accumulate) in December. 2 trades (SL = 20) resulting in loss of -20 pips each. 6 BE trades (+20 pips = BE, if possible). And 6 no trades.

^^ That's just my input. I'm not sure if it's possible to do so.

435+ pips - 40 pips = 395+ pips.

Merry Christmas!
  • #15
  • Dec 25, 2011 4:10pm Dec 25, 2011 4:10pm
Here it is, a litte bit modified expert.

SETTINGS:

All of the pips values are set for 5 digit quoting. Take one zero out if you use 4 digit broker.

TrailingSL 200 // Trailing Stop Loss set to 200 pips
BE true // if set to true TrailingSL moves SL to Break Even + 100 pips and no further.
martingale true // If true, whenever there was a loss, next trade will use doubled lot size until profitable trade is made.
DynamicLot true // If set to true, program will increase lot size proportionally to the increases in account balance. Adds 0.01 lot for every X euros, pounds, dollars of account increase
X 50 // Look up.
Buffer true // if true, EA leaves some space between high/low of the last candle and order's opening price
buffer_value 100 // price has to exceed high/low +/- 100 pips before opening order
LOT 0.01 // initial lot value. Disregard if DynamicLot set to true, and put whatever you like if else
SL 200 // initial Stop Loss value. Mind that if Trailing SL is of smaller amount than this, it will decrease SL value immediately after an order is placed.
TP 2000 // initial Take Profit value
COMMENT false // I used order accounting function in this modification which I took from one of the other programs I made. This switch decides if any comments are displayed in the market window.

I haven't done much of testing today. However you can try to play with settings a little bit and see how it goes. So far there were more than 2 consequtive losses in my tests so martingale didn't work as planned. Maybe due to tight StopLosses.

tommbstone, it seems to be a good idea to use couple of different pairs for this system. You mentioned 5-7 charts. Which in particular do you use? How correlated are they?

chick3n420 if you look at the settings above BE is explained. It is a part of TrailingSL function. I also changed the requirement of zero orders for placing a new one so with wide stops orders should accumulate as long as there are signals in the same direction.
Attached File(s)
File Type: mq4 Candle Based v3.mq4   18 KB | 3,129 downloads
  • #16
  • Dec 25, 2011 4:29pm Dec 25, 2011 4:29pm
There is this problem with the EA that whenever whipsaw happens the order is closed due to SL, and we need to wait for another bar to appear for an order to be placed again. Meanwhile program remains idle.

I was thinking about re-entering the market in such situation but I couldn't come up with anything sensible.

Any ideas?
  • #17
  • Dec 26, 2011 10:40pm Dec 26, 2011 10:40pm
Casper
I only use daily chart breaks now. less wip

keep in mind trading this method is bad until jan. for now i would grab 10-20 pips w/out pip buffer. Still $100-200 per chart on standard lots

non Holiday setings/manual trading
audusd with a 10 pip buffer it will move 100 pip (5dig) but i have a jump stop move sl to 10pip when 50 pip is hit. Cant lose more than 10 pips.
gpaud same as above
eurjpy same
gbpusd same

eurusd, usdcad i only take 50 pip with 10-15 pip buffer

I'm experimenting with eurgbp euraud eurcad .10 lots till i get the feel on thes pairs. Some corelate yes but some move into profit first and faster
  • #18
  • Dec 30, 2011 1:38am Dec 30, 2011 1:38am
Quoting Casper C.
Here it is, a litte bit modified expert.

SETTINGS:

All of the pips values are set for 5 digit quoting. Take one zero out if you use 4 digit broker.

TrailingSL 200 // Trailing Stop Loss set to 200 pips
BE true // if set to true TrailingSL moves SL to Break Even + 100 pips and no further.
[color=navy]martingale true // If true, whenever there was a loss, next trade will use doubled lot size until profitable trade is.............................

Hi all, first thank you for your work and your dedication.

A question?



I have tried to optimize the "BUFFER" (version 3.), and I do not work properly.



Thank you for your attention

Lordorly
  • #19
  • Dec 30, 2011 2:12am Dec 30, 2011 2:12am
Haven't thought of anything yet regarding the SL, but the BE function does not appear to be working, even when the trade is +100 pips.

-cHiCk3n420
  • #20
  • Edited 9:58am Dec 30, 2011 9:32am | Edited 9:58am
i have problem with the EA.

as per my understanding:
when i add EA into \experts and load it via navigator with settings on screen it should open trade on any timeframe after 1 pip break of last high/low of last candle.

as you can see i added on 16.48 and it happen nothing.
what is wrong?

ps i have 5 digit broker. does i need to change something?
thanks
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