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Need help to code EA for Momentum strategy

  • #1
  • First Post: Jul 13, 2012 1:23pm Jul 13, 2012 1:23pm
Hello everyone.

I have been devising a strategy that uses momentum and trend strength to scalp a fixed amount on ever trade in the market. It uses ADR and MACD. As i do not have any coding skills I can back test it using the strategy tester. I can only back test as much as I can visually. Its been working quite well visually. Lol.

If anyone is kind enough to help me out here with an EA i would well appreciate it. Once I have backtested the system, I will post a detailed description of it here plus results. If it is successful of course.

I am also posting a graph for clarity of what I need as a signal generator.

For the EA this is what I would need.

MACD (9,26,12) signal has to be crossing through 0 (from +ve to -ve or vice versa)
MACD histogram has to be in a directional change (i.e. bars coming from +ve to -ve or vice versa)
MACD signal has to be below (or above in down move) the close value of the histogram bars.

ADX (14) has to be between 24.9 to 30.1
ADX has to be rising from below 24.9

candle on which the above 2 conform can be bearish or bullish. However if we are waiting for a sell signal and end up with a bullish candle, the candle must not break the high of that previous bearish candle and vice versa for the opposite direction. (but the macd bar should be of higher absolute value on the signal candle than the one before it)

Entry at close price of the signal candle (adjusted for spread). TP 10 pip. SL 20 pip.

Please let me know if anyone can help with this. Theres more rules that need to go in but can only go in visually because reading PA is very important here. If anyone is interested I can post many more details on the system. Thanks in advance.

Best,
H
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  • #2
  • Jul 13, 2012 1:30pm Jul 13, 2012 1:30pm
Quoting goldfish3
Hello everyone.

I have been devising a strategy that uses momentum and trend strength to scalp a fixed amount on ever trade in the market. It uses ADR and MACD. As i do not have any coding skills I can back test it using the strategy tester. I can only back test as much as I can visually. Its been working quite well visually. Lol.

If anyone is kind enough to help me out here with an EA i would well appreciate it. Once I have backtested the system, I will post a detailed description of it here plus results. If it is successful of course.

I...
Why not use the trading simulator from this forum? Do a search for it, I use the one that's at the top of the results that come up.
  • #3
  • Jul 14, 2012 1:21am Jul 14, 2012 1:21am
Quoting goldfish3
Hello everyone.


MACD (9,26,12) signal has to be crossing through 0 (from +ve to -ve or vice versa)
MACD histogram has to be in a directional change (i.e. bars coming from +ve to -ve or vice versa)
MACD signal has to be below (or above in down move) the close value of the histogram bars.

H
Hello Goldfish,
So as I understand it, entry is when Macd Signal line crosses Zero, and Macd histrogram has changed direction ie. increasing/decreasing?
Cannot have "bars coming from +ve to -ve " which means MACd would also have to cross Zero on the same bar.
I am working on an indicator to better visualise the entries.
EP
  • #4
  • Jul 14, 2012 7:45am Jul 14, 2012 7:45am
Ok, here is an indicator to help visualise the entries.
Have used ADx as entry trigger, and Macd/Signal cross to determine long/short direction.
Have adjusted Macd Signal and ADx entry levels, but they can be changed with external inputs.
May need to fine tune a bit more.
EP
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File Type: ex4 gfish1.ex4   4 KB | 514 downloads
  • #5
  • Jul 14, 2012 7:49am Jul 14, 2012 7:49am
Quoting Hugh Briss
Why not use the trading simulator from this forum? Do a search for it, I use the one that's at the top of the results that come up.

Thanks Hugh,

The strategy tester works but again it has to be done visually. Although it speeds up the process I still cant get an overall picture of the results because the human element is in it while picking trades. Even though the strategy itself has to have human judgement based on certain rules, which I will go through later, I want to test it out in its most automated and fundamental form. No rules just conforming to indicators and see what gives. I will however be testing through the strategy tester all weekend and will post my results by late tomorrow hopefully.

Best,
H
  • #6
  • Jul 14, 2012 8:11am Jul 14, 2012 8:11am
Quoting EaglePip
Ok, here is an indicator to help visualise the entries.
Have used ADx as entry trigger, and Macd/Signal cross to determine long/short direction.
Have adjusted Macd Signal and ADx entry levels, but they can be changed with external inputs.
May need to fine tune a bit more.
EP
Hi Eagle,

Good to know this has intrigued you. If the signal crosses 0 then the histogram also has to follow. so I am not saying that it has to be the first bar that crosses 0. It could be the second or third or even 4th. But as the bars progress I ask myself visual questions like.

Are we near a supply/demand zone?

Have preceeding candles to the signal candle really massive (indicating that the move is burnt out)

Has there been a general change in trend?

In this case however I like to see visually the rate of change of momentum. This can be determined from whether the distance between the signal line and the bars is increasing or decreasing. I have attached a graph to illustrate this.

But well get to those details later.

The indicator you posted seems good but it is also signaling alot of bad trades.

-H
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  • #7
  • Jul 14, 2012 8:52am Jul 14, 2012 8:52am
Quoting goldfish3
Hi Eagle,

Good to know this has intrigued you. ....
Are we near a supply/demand zone?

Have preceeding candles to the signal candle really massive (indicating that the move is burnt out)

Has there been a general change in trend?

In this case however I like to see visually the rate of change of momentum. This can be determined from whether the distance between the signal line and the bars is increasing or decreasing. ...

....... but it is also signaling alot of bad trades.

-H
Hi Goldfish,
The indicator is coded with 3 conditions for entry:
1.Macd above/below signal.
2.Signal above/below Zero zone. (Actual levels can be optimised by trial).
Created tolerance band at Zero level to enable some entry signals, but can be tightened.
3.Adx in Sweet Zone. (Again Zone levels can be adjusted. See Input tab).

So, the bad signals can be filtered out by tweaking the Zero band and ADX zone.
It appears you are also using discretion to evaluate momentum so will perhaps need to come up with some sort of additional filter to avoid the low probability signals.
EP
  • #8
  • Last Post: Jul 24, 2012 7:16pm Jul 24, 2012 7:16pm
After extensive back-testing of this strategy, it seems the strategy is giving a 50/50, rarely better results. I feel it needs to be tweaked and filtered alot more. I will come back soon...

Thank you EaglePip for taking out the time to devise the indicator for this. Will be happy to return the favour whichever shape or form that I am capable of if need be.

Happy trading to all you folks.

Best,
-H
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