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Creating an EA using a zigzag strategy

  • #21
  • Aug 12, 2014 8:31am Aug 12, 2014 8:31am
Quoting tdhowl
Hi, I would like to comment about my last post. My best guess is that this strategy will blow out an account in the long run because there is no limit to how far against the open positions will go. Even though the EA is attempting to compensate for repaint.. this I think in the long run would mean nothing, and the account it is used on would be wiped out. Here's a better idea.. an EA based on a non repainting indicator, averaging up in the direction of the trend.. instead of an EA based on a repainting indicator averaging down when price goes against....
What you're exploring is interesting, let's keep going with this. I have no experience with 'averaging'.
  • #22
  • Aug 12, 2014 8:37am Aug 12, 2014 8:37am
Quoting TradeWynds
{quote}
If we look at the 8.8 EURUSD D1 candle/bar what do we see?
We are not using the zigzag indicator on D1 for this observation.
What if on the next trading day the EURUSD H1 zigzag indicator forms a 'zag' to the 'zig' that has formed?
Not really 'if' but 'when'.
Would it make sense to be prepared for a Buy entry when a 'zag' has formed?
Not using the zigzag indicator, because that lags too much.
But by some other indication(s).
I have a Buy 2014.08.12 15:01 (Pepperstone) at 1.3341.

The entry is at BE. We'll see if it gets knocked out. If not, the next step is locking in profit and exiting.
  • #23
  • Aug 12, 2014 3:02pm Aug 12, 2014 3:02pm
Hi Tradewynds, years ago, I had a programmer make for me a highly aggressive trading EA that was based on 2 non repainting indicators. It would average up meaning on every bar that closed whichever timeframe it would trade on.. it would add a new position of the same size lot size each time. It had a limit feature in the inputs to set a maxium number of opening trades to 20. What happened when I demo tested this EA was that on the 1 hour timeframe I was being whipsawed and incurred losses. However, I thought on a very low timeframe like the minute 5.. I would not experience the whipsawing effect, but, another problem arose.. the spread for each trade opened would need to be near zero.. so I never tested it on the minute 5. I think im going to try to test this EA again but now placed on the 5 instead, and set the max spread to zero and see what will happen. I have to lose on demo.
  • #24
  • Last Post: Aug 12, 2014 7:43pm Aug 12, 2014 7:43pm
Quoting tdhowl
Hi Tradewynds, years ago, I had a programmer make for me a highly aggressive trading EA that was based on 2 non repainting indicators. It would average up meaning on every bar that closed whichever timeframe it would trade on.. it would add a new position of the same size lot size each time. It had a limit feature in the inputs to set a maxium number of opening trades to 20. What happened when I demo tested this EA was that on the 1 hour timeframe I was being whipsawed and incurred losses. However, I thought on a very low timeframe like the minute...
I've found looking at H1 and filtering through M5 and entering a trade on M1 works well.
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