Equity Millepede EA(Expert Advisor)

Warm welcome to all.

I am one among the fans of Greame(author of Equity millepede).
His (very loooooooong)thread is motivating and inspiring lot of traders around here.

This EA we are going to build is dedicated to the great man Greame.

Summary of what this thread about

1. I built an EA which incorporates the concept of Equiity millipede.

1. We are going to update the EA with entry techniques.

Detailed plan and design
I built an EA this morning.
This EA is having following features.

1. It will open a trade.
2. Calculation of lotsize based on risk --> (AccountMargin()%500) * 0.01 * risk.
   This means 0.01 lot for each 500$, with risk as the multiplication factor.
3. validate stoploss. There is an option for user to enter max stoploss. Validate stoploss will check for the stoploss calculated by entry method and validate it with max stoploss.
4. Move stoploss to Breakeven --> BreakEven pips and BreakEven Profit are user inputs.
5. Entry method --> It check for the entry with very small stoploss. It will set the stoploss(This stoploss is validated with the max allowed stoploss. If the stoploss is greater than max alllowed stoploss, then trade is not opened) and will open the trade.
6. Module to take photo whenever new trade is opened and whenever stoploss is moved to Break Even

There is no exit module. You should know why if you know the concept of Greame. This EA is not about exiting from a trade. This ea aims only at building legs. Its your duty to terminate the legs(means exiting a trade).

According to Greame, profit of 100 even 500 itself is not at all a profit. So there won't be Exit module in this EA.

So this EA is not "set and leave EA".

Now this EA can enter a trade, it can place stoploss, it can check whether the stoploss is within our budget, it can move the stoploss to break even.
These are all the thing we need to do to form the leg.
But what about entry method ?
I incorporated 1 of my own entry method within this EA. But i have to do some filtering to make the entry more precise.

For sure we all have our own entry methods.
Share it and get it back.

I will post only .ex4 file.

If any of your ideas cannot be incorporated, then i will say the valid reason before deleting it from my coding list.

So start sharing, i will start coding.

Regards
ananth

PS --> EA attached is just coded today. Its not tested yet because spread on holidays are very high. Please excuse my grammer.

Super thread i'm in till it ends. First - maybe we can include this thing for the max profit http://codebase.mql4.com/ru/4684 after an entry?

ananthhh,

Nice to see you keeping Graeme's philosophy to the fore.

I have a similar thread going at: http://www.forexfactory.com/showthread.php?t=361688

I have and entry and stacking strategy in place that is very promising and am trading it live now. I'm incorporating the equity millipede into it.

I have an ea over there that does all the stacking work but I need it to be tweeked to only trade after the previous trades are at BE. Perhaps some sort of combining might be in order.

Take a look if you're interested.

Thanks for your contribution profitmonit.
Idea seems to be good.
This idea can be implemented in "Managing Open Positions" module. Now moving to break even is the only idea implemented in "managing open positions" module.
Currently am looking to improve the "Entry" module.
But for sure, i added this to my to do list. You can expect the update as soon as possible.

Once again thank you very much for your contribution.

Cheers
ananth

Thank you very much spidy
Very good contribution. I will add this entry and update in the first post soon.

Cheers
ananth

What's up guys do we have here something new?

TDI indicator looks quite promising.
I'm tweaking the method proposed by spidey, to get most out of it.

My Plan till now is:
1.No entry based on daily charts(Since stoploss will be huge).
2.Entry will be there in H4 timeframe where daily tdi acts as filter.
3.Entry will be there in H1 timeframe where H4 and daily acts as filter.
4.Entry will be there in 30M timeframe where H1,H4 and daily acts as filter.
5.Entry will be there in 15M timeframe where 30M,H1,H4 and daily acts as filter.
6.Entry will be there in 5M timeframe where 15M,30M,H1,H4 and daily acts as filter.

So what i will achieve with the above plan ?

TDI has 3 main lines. Green,Red and Yellow(I am not going to use blue lines).
If we use these lines in a correct way, it will help us giving perfect indication of the trend. If we apply this as a filter in the lower time frames, lot of range bound entries will be eliminated.
Now am looking at the way to use this indicator as a filter and as an entry.

I will look at it and i will confirm the entries and filters and update you the plan.
Once the plan is confirmed, i will update the EA.

Since our EA is trend following, we need a method which should avoid entries in choppy market as far as posiible
I hope we will achieve this with this indi.

Thank you spidey for introducing us to this indi.

Regards
ananth

Good Day
I am very interested in the Graeme's Equity Millipede method/process and the use of TDI indicator; could you assist me with a document regarding the process?

To avoid chop markets - include an adx in the ea, and to be more accurate adr also.