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Price Bounce Off MA EA

  • #41
  • Dec 6, 2010 1:20am Dec 6, 2010 1:20am
Good stuff

Quoting kneal
Can this Indicator be what you need for an exit or stop Loss strategy??

You can read about it here > http://forex-strategies-revealed.com...keep-every-pip

I have attached the indicator
  • #42
  • Dec 6, 2010 1:40am Dec 6, 2010 1:40am
I'm not sure I understand what you mean by exit strategy... I thought in essence when you take a trade and then it hit TP it stops there and begins to take another trade was an exit.

DO you mean exiting at a particular time of day or day of the week??

You could CCI for an exit and let the EA Hibernate until a specified time to start trading again.

Or maybe code into the EA to stop trading at 50% DD and Hibernate until all open trades hit TP then close.

Or when Account reaches 10% Loss or 30% Gain stop trading.

Please explain because I don't understand.
  • #43
  • Dec 6, 2010 10:56am Dec 6, 2010 10:56am
this is a classic example of having an idea that 'seams' to work when looking at charts but without any target, stoploss. i can tell you one more thing. whenever price breaches yesterdays hi/lo, it goes soemmore and gives you some pips. but thing is we dont know how far and when to take profit and where to put SL

This EA will be useless without exit policy. do you use EA to optimise the exits or let the strategy define the EA exit ?

without such exit policy, we need to make some 'guesses' and start with some numbers. stoploss 50 pips, take profit 50 pips for daily chart
  • #44
  • Edited 12:31pm Dec 6, 2010 11:41am | Edited 12:31pm
What if we change the strategy to this??

See pic below. We can make at least 20 pip gains in this scenario.

Do you think it will work? This way you won't need a stop loss will you?

I think the trend will need to be confirmed before taking trade with MA or maybe let the EA search for exit/entry point with a set TP in mind in case the trend changes abruptly. So it will enter above or below the initial buy/sell point.

Maybe we could get the confirmation with a filter such as I Trend.
Attached Image (click to enlarge)
Click to Enlarge Name: test strat.gif Size: 21 KB
Attached File(s)
File Type: mq4 i_Trend.mq4   3 KB | 468 downloads
  • #45
  • Dec 6, 2010 12:55pm Dec 6, 2010 12:55pm
That's not going to work either.... oh well, the EA is useless.

It might would work in a Ranging market
  • #46
  • Jun 23, 2011 12:33am Jun 23, 2011 12:33am
Hello,

can u please help me to guide about the EA , when price cross the MA then order close.

my id is [email protected],

thanks.

Umesh Patel
  • #47
  • Aug 8, 2012 10:51am Aug 8, 2012 10:51am
Quoting jmtini
Hi cyber1

Well I managed to get it working at last!

I removed this line: if(Low_2>EMA_2+Envelope_Range*Poin)// preveous closed bar did not touched MA envelope
Was that on the ST or Live trading? Not sure why that would cause a problem. Maybe Envelope_Range=10 should be more like 3. At least thats what I used.


Quote
Also I cannot set any initial SL or TP because my broker only has "market execution"!

I have added ECN compatibility and cleaned up the code a bit. The modified version is posted below.

I have done some backtesting on it and seems as usual it gives wide ranging results depending on the Timeframe. I think it was intended for the H1 but I've had better results with lower timeframes.
Attached File(s)
File Type: mq4 Price_Bounce_Off_MA_v.2e_mod.mq4   18 KB | 622 downloads
File Type: zip StrategyTester_GBPUSDM15.zip   41 KB | 439 downloads
  • #48
  • Aug 8, 2012 1:20pm Aug 8, 2012 1:20pm
Quoting cyber1
Was that on the ST or Live trading? Not sure why that would cause a problem. Maybe Envelope_Range=10 should be more like 3. At least thats what I used.

I have added ECN compatibility and cleaned up the code a bit. The modified version is posted below.

I have done some backtesting on it and seems as usual it gives wide ranging results depending on the Timeframe. I think it was intended for the H1 but I've had better results with lower timeframes.
Thank you Cyber1 - that's really nice of you.

Actually it did only did seem to work when I set the envelope to 4 or less. Perhaps that was actually the problem and not removing that line! I'm going to test this new one you've made. I really appreciate your help especially now that one can use it with a set SL/TP on an ECN account!

Yes, I can imagine one should get better results on lower time frames. Price action usually "bounces" off MA's in a strongly trending situation and when price is trending strongly one has to "catch" the action on the lower time frames.

Anyway thanks again.

Rgds

Jerry
  • #49
  • Aug 8, 2012 1:59pm Aug 8, 2012 1:59pm
Quoting jmtini
Thank you Cyber1 - that's really nice of you.

Actually it did only did seem to work when I set the envelope to 4 or less. Perhaps that was actually the problem and not removing that line! I'm going to test this new one you've made. I really appreciate your help especially now that one can use it with a set SL/TP on an ECN account!

Yes, I can imagine one should get better results on lower time frames. Price action usually "bounces" off MA's in a strongly trending situation and when price is trending strongly one has to "catch" the action...
Unfortunately theres a bug in the LotsOptimized() function that I added back in from the original version. Which explains why someone along the way removed it. What it does is it allows multiple trades to take place even with MaxTrade set to 1.
So I have replaced it with new LotsOptimized() function and seems to work fine.

Please download the new version so you can avoid this problem.
LMK if you have any other problems.
Attached File(s)
File Type: mq4 Price_Bounce_Off_MA_v.2e_mod.mq4   19 KB | 734 downloads
  • #50
  • Aug 21, 2012 1:03am Aug 21, 2012 1:03am
Hey cyber1, are you helping others code EAs?
A 1 pip gain is better than a 1 pip loss.
  • #51
  • Aug 21, 2012 8:34am Aug 21, 2012 8:34am
Quoting aeternum
Hey cyber1, are you helping others code EAs?
I am but depends on what you've got.
  • #52
  • Sep 6, 2012 9:18am Sep 6, 2012 9:18am
Quoting cyber1
Unfortunately theres a bug in the LotsOptimized() function that I added back in from the original version. Which explains why someone along the way removed it. What it does is it allows multiple trades to take place even with MaxTrade set to 1.
So I have replaced it with new LotsOptimized() function and seems to work fine.

Please download the new version so you can avoid this problem.
LMK if you have any other problems.

Hi cyber1

The price bounce EA is working fine but sometimes just doesn't take the trade so I again removed the buy/sell when "previous closed bar did not touched MA envelope" and seems to open the trade more aggressively.
Just wanted to ask you what does this option mean: BarsFromOpen = 4; //Optimize per TF & pair

Thanks so much

Kind Regards

Jerry
  • #53
  • Sep 6, 2012 9:37am Sep 6, 2012 9:37am
Quoting jmtini
Hi cyber1

The price bounce EA is working fine but sometimes just doesn't take the trade so I again removed the buy/sell when "previous closed bar did not touched MA envelope" and seems to open the trade more aggressively.
Just wanted to ask you what does this option mean: BarsFromOpen = 4; //Optimize per TF & pair

Thanks so much

Kind Regards

Jerry
It does not have anything to do with placing orders.

It controls how soon after(how many bars after open) an order is placed that it can be closed or trailing can start. If you set it to 0 then it is essentially disabled and no longer a factor.
  • #54
  • Sep 11, 2012 12:17pm Sep 11, 2012 12:17pm
Quoting cyber1
It does not have anything to do with placing orders.

It controls how soon after(how many bars after open) an order is placed that it can be closed or trailing can start. If you set it to 0 then it is essentially disabled and no longer a factor.
Hi Cyber1

Thanks. It's really a great EA and you're quite right that it works much better on the shorter time frames (5 min or 15 min). I prefer to mainly use the 62 EMA rather the 24/28 (vegas) Of course they work well on the 5 min in fast trending situations. I try to set it up once I'm expecting price action to bounce off the EMA's (using variable time frames).

Anyway, there's something else I wanted to ask you if you wouldn't mind. The other day I downloaded that "EM_VOL" EA which was posted on the other thread. I've tried it out with excellent results! The only problem is that I really don't understand all the parameters!

Here are the ones I'm not quite sure of:

extern int MMType=1;
extern bool UseClose=false;
extern bool UseAdd=true;
extern double LotExponent=1.2;
extern double slip=3;
extern double Lots=0.2;
extern double LotsDigits=0.01;
extern double PipStep=30;
extern int MaxTrades=30;
extern bool UseEquityStop=false;
extern double TotalEquityRisk=20;
extern double MaximumRisk=0.002;

Could you possibly tell me what they exactly mean?

Thanks so much again,

Kind Regards

Jerry
Attached File(s)
File Type: mq4 EM_VOL.mq4   29 KB | 437 downloads
  • #55
  • Sep 11, 2012 12:39pm Sep 11, 2012 12:39pm
Quoting jmtini
Hi Cyber1

Thanks. It's really a great EA and you're quite right that it works much better on the shorter time frames (5 min or 15 min). I prefer to mainly use the 62 EMA rather the 24/28 (vegas) Of course they work well on the 5 min in fast trending situations. I try to set it up once I'm expecting price action to bounce off the EMA's (using variable time frames).

Anyway, there's something else I wanted to ask you if you wouldn't mind. The other day I downloaded that "EM_VOL" EA which was posted on the other thread. I've tried it out with...
Jerry–
Thanks for the info on the who PriceBounceMA EA. I finally had to give up on it after many modifications it just wasn't reliable enough over time but I'll try your settings.

Be very careful with the EM__VOL EA. The reason it does so well if you notice it has no stop loss drawdown of 62% and 1 test I did which was equal to 500 pips in the hole.
As far as what all the user inputs are for without testing them a bit difficult beyond a few of the obvious ones. And being I have no interest in the EA I would want to spend time can't figure them out. Hopefully somebody post if they know.

extern int MMType=1; This money management type–you can use 0, 1, 2–have no idea what the differences are those of the parameters
extern bool UseClose=false; I guess would be if you set truth when a certain condition is met while I close the orders
extern bool UseAdd=true;
extern double LotExponent=1.2;
extern double slip=3; slippage
extern double Lots=0.2; lot size
extern double LotsDigits=0.01;
extern double PipStep=30;
extern int MaxTrades=30; maximum allowed allowed trades at any given time
extern bool UseEquityStop=false; in the last 3 are money management
extern double TotalEquityRisk=20;
extern double MaximumRisk=0.002;
  • #56
  • Sep 12, 2012 6:56am Sep 12, 2012 6:56am
Quoting cyber1
Jerry–
Thanks for the info on the who PriceBounceMA EA. I finally had to give up on it after many modifications it just wasn't reliable enough over time but I'll try your settings.

Be very careful with the EM__VOL EA. The reason it does so well if you notice it has no stop loss drawdown of 62% and 1 test I did which was equal to 500 pips in the hole.
As far as what all the user inputs are for without testing them a bit difficult beyond a few of the obvious ones. And being I have no interest in the EA I would want to spend time can't figure...
Hi Cyber1

Yes I think that you are right about that "VOL" EA - not too good - it wiped out my demo account this morning on the extreme volatility!

I must tell you that the "price_bounce" EA worked really great last night, it's OK if one sets-and-forgets it at not too volatile periods off either the 24 or 62 EMA depending on the trading pair.

I just want to ask you if it's possible to add an extra parameter? When price is trending very strongly there is a great little strategy using the 5 min chart and 5 SMA's set to the high/low. In a strong uptrend like this morning, one can buy off the "low" and the other way round in a strong downtrend. So is it possible to maybe change this line as I've got it below? :

extern int: MA_Mode= ;//SMA=0,EMA=1, "apply to high = 2, apply to low = 3"

Thanks & Regards

Jerry
  • #57
  • Sep 12, 2012 8:03am Sep 12, 2012 8:03am
Quoting jmtini
Hi Cyber1

Yes I think that you are right about that "VOL" EA - not too good - it wiped out my demo account this morning on the extreme volatility!

I must tell you that the "price_bounce" EA worked really great last night, it's OK if one sets-and-forgets it at not too volatile periods off either the 24 or 62 EMA depending on the trading pair.

I just want to ask you if it's possible to add an extra parameter? When price is trending very strongly there is a great little strategy using the 5 min chart and 5 SMA's set to the high/low. In...
Jerry–
I added the price input parameter. I think this is what you're asking for. If not please let me know.
Attached File(s)
File Type: mq4 Price_Bounce_Off_MA_v.2e_mod.mq4   19 KB | 653 downloads
  • #58
  • Sep 12, 2012 9:49am Sep 12, 2012 9:49am
Quoting cyber1
Jerry–
I added the price input parameter. I think this is what you're asking for. If not please let me know.
Hi Cyber

Thanks so much.

I'm not sure - I think I need to show you an example. In the 5 min chart below you'll see what I mean. The light blue line is the 5 SMA applied to the "high" and the red line is the 5 SMA applied to the "low". What I want to do is set the EA to open trades during fast trending situation when price action retraces to the 5 SMA set to the "high" (in a downtrend) or the 5 SMA set to the "low" (in an uptrend). If you look at the white arrow in the chart below, is an example of price action retracing to the 5 SMA set to the "low" - a nice place to enter a trade!

Regards

Jerry
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m5.gif Size: 19 KB
  • #59
  • Sep 13, 2012 10:19am Sep 13, 2012 10:19am
Quoting jmtini
Hi Cyber

Thanks so much.

I'm not sure - I think I need to show you an example. In the 5 min chart below you'll see what I mean. The light blue line is the 5 SMA applied to the "high" and the red line is the 5 SMA applied to the "low". What I want to do is set the EA to open trades during fast trending situation when price action retraces to the 5 SMA set to the "high" (in a downtrend) or the 5 SMA set to the "low" (in an uptrend). If you look at the white arrow in the chart below, is an example of price action retracing to the 5 SMA...
Jerry–

I think I know what you're asking for but it's probably a lot more complicated than just adding or changing one of the inputs. I don't know that I would spend the time that it might take, unless you can convince me it really would be a worthwhile feature to add.
  • #60
  • Sep 13, 2012 11:17am Sep 13, 2012 11:17am
Quoting cyber1
Jerry–

I think I know what you're asking for but it's probably a lot more complicated than just adding or changing one of the inputs. I don't know that I would spend the time that it might take, unless you can convince me it really would be a worthwhile feature to add.

Hi cyber1

Sorry - didn't realise. Not a big thing. That trading can be done manually, it's just that the "fear factor" is taken out by using the EA!

Kind Regards

Jerry
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