D1 - 20 EMA & 50 EMA

Glad to have you here Pirt, feel free to start trading your own account. But I still recommend only demo trading.

I'll be posting up the past 12 months worth of results (back testing) for multiple currency pairs sometime later today. I'm actually surprised at the results so far, in a good way!

Here is an updated EA, this time allowing the user to test different variables so you can back test and optimize to find the best set files for each pair. As mentioned before, I am new at coding so do not even think about trading this on a live account as there could be bugs.

Explanation of settings:

StopLoss and TakeProfit -- Actually we aren't using these as I switched to a multiplier of ATR. These were 100pips default values so if you want this just use the ATR display to calculate the settings. I think if we base this on the volatility of each pair we are likely to be more successful, since this would adapt for pairs that range less to those that range more.

Risk -- Default is 1 % but you might want to reduce this further. It can open up to 8 trades so you would be risking up to 8% per pair. More conservative would be .025 for a total risk per pair of 2%

ATRSL and ATRTP -- The most successful pair so far is the EURJPY. I took the default settings (TP 350 and SL 250) and calculated this out to be approximately 9*ATR(30) for TP and 6.5*ATR(30) for SL. If you leave it like this it will have different targets for each pair and even the same pair as volatility changes.

Breakeven -- If you use this you can have the EA move your Stoploss to breakeven after a fixed number of pips. This will reduce your losses and drawdown, but also reduce your overall profit. Default is set at 50 pips

BreakevenPips -- you can add a few pips of profit if you want. For instance, instead of moving your SL to breakeven after X number of pips, you could set it to breakeven plus 5 or whatever.

Happy testing!

The weekend is the worst time to do back testing because MT4 will use your spread at close on Friday. These tend to be the highest unless you have a fixed spread. if you want to optimize, best not to try to optimize every parameter at once or it will take forever.


Edit: If you downloaded this before 7:20PM EST please do so again. The first one had bugs

Since it only took a few minutes I added another version. With this one you can use the StopLoss and TakeProfit Settings instead. The defaults are 250 SL and 350 TP, but you can just change the numbers instead of playing with the ATR. Don't use the ATR settings if you use this version.


Edit: If you downloaded this before 7:20PM EST please do so again. The first one had bugs

I've also written my own EA for this and just put it on the charts this afternoon for the first time to get the kinks and bugs worked out. It's already opened 8 positions... hopefully not at the very end of the trends! No sweat, though, as this is only demo.

I did just think of one thing that I had not considered before, but maybe some of you have. Right now my EA will not allow any orders until at least 6 or 12 hours (depending on the setting) have elapsed since the prior order. This is, of course, according to the original trading rules. However, it really should be 6 or 12 hours of "market time" because by Sunday when the markets open, 12 hours will obviously have passed, so theoretically, my EA could open an order at 4 PM on Friday and then again at 6 PM on Sunday evening. 100 Pips, does your EA take this into account and deal with it? If anyone has a slick coding solution, please let me know!

Scott

My EA does that by counting bars on the H1 time frame. I hardcoded it for 6 but later I can go back to make that a variable so people can test for 6, 12 or whatever


Later this weekend I will make an EA based on the original Third Screen Strategy so people can compare

Ah. Good idea. I had been calculating it with a datetime variable. I will modify it this weekend.

Cheers,
Scott

Hello Dewey i am testing your EA and i do not understand why opened a sell on UJ...why??

The picture...why opened sell????

Here they are fixed. I made the mistake of not deleting the old one and added the extra features to it instead of the one that worked correctly.

I also added another feature so the user can select how long between trades. Default is 6. 100Pips is testing both 6 and 12

Hi,

Maybe these are helpful. I don't use them myself but I think at least one was working some time ago.


Cheers
Ati

Actually, I don't think the spread is that huge of an issue when you are talking about a method where you are shooting for 350 pips each trade. A few pips likely won't skew the results all that much.

100Pips, how's that backtest coming? Eager to see what you came up with...

Scott

[Here they are fixed. I made the mistake of not deleting the old one and added the extra features to it instead of the one that worked correctly. I also added another feature so the user can select how long between trades. Default is 6. 100Pips is testing both 6 and 12 {file} {file}[/quote]


Dewey: hi!

Could you kindly consider to add lots adjustment parameter to this latest version EA.
Tarding with default .1 lots may not be practical.
Thank you again!

rswamy

You can adjust the percentage risk. Just change that setting to what % of your account you are willing to risk per trade. The default is 1%

OK, I've been doing some back testing for quite a few pairs using this system. Results are mediocre but when trading multiple pairs it can be a profitable system without any type of human intervention. However, I am still probably going to be disabling the EA at certain points in time and will apply PASR in the near future for optimal results.

AUD/JPY (6 Hour Delay)

Total Trades: 78

Total Net Pips: 6,550

Profit Factor: 2.07

AUD/JPY Strategy Tester

CAD/JPY (6 Hour Delay)

Total Trades: 71

Total Net Pips: 5,593

Profit Factor: 1.94

CAD/JPY Strategy Tester

NZD/JPY (6 Hour Delay)

Total Trades: 47

Total Net Pips: 5,628

Profit Factor: 2.90

NZD/JPY Strategy Tester

*This particular test started in December of 2012, for some reason I can't get it to back test any further back than that point...

USD/JPY (6 Hour Delay)

Total Trades: 59

Total Net Pips: 6,100

Profit Factor: 2.34

USD/JPY Strategy Tester

EUR/JPY (6 Hour Delay)

Total Trades: 116

Total Net Pips: 3,593

Profit Factor: 1.28

EUR/JPY Strategy Tester

NZD/USD (6 Hour Delay)

Total Trades: 45

Total Net Pips: 4,850

Profit Factor: 5.49

NZD/USD Strategy Tester