Great EA, I just need a bit of help | Forex Factory

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Great EA, I just need a bit of help

  • #1
  • First Post: Sep 13, 2014 9:24pm Sep 13, 2014 9:24pm
Hello,

Here is a great EA based on price action that goes after highs and lows. It trades on USDJPY as this currency seems to be the most consistent. It makes money and can even outrun commission.

What I need:

The EA is simple. Right now it's taking the dailyhigh and dailylow variables from the broker's server time rather than taking these variable starting from from 0 GMT. I need someone to make it so that the EA takes these variables starting from from 0 GMT so that the EA can be used with brokers who don't have 0 GMT as their server time. The timing with this EA is extremely important so this needs to be done right.

Hopefully some rockstar out there can help me - you'll get a great EA too!

Oh yeah and I really need an .mq4 file if that's possible.

Thanks so much! http://i1.fxf5.com/forums/images/smilies/smile.gif
Attached File(s)
File Type: mq4 USDJPY Daily Breakout 2.mq4   14 KB | 1,563 downloads
  • #2
  • Edited Sep 16, 2014 5:38am Sep 15, 2014 8:31pm | Edited Sep 16, 2014 5:38am
Here is a version with a DailyStartHour option. It is in hhmm format and refers to GMT.
  • #3
  • Sep 15, 2014 9:35pm Sep 15, 2014 9:35pm
Quoting xux99
I have attached a version with a DailyStartHour option. It is in hhmm format and refers to GMT. {file}
Thank you so much my friend! Your efforts are very much appreciated. If you have paypal I would like to make a donation.

I tried to set up your version of the EA but got mixed results. Either I didn't explain myself properly or I'm not setting it up right.

So, I only changed one thing:

input string DailyStartHour = "300";

as my broker's dailyopen time is 21:00 GMT and I want the daily open to start at 0 GMT. I hope I did that right.

But this is what I got on the chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Example 01.jpg Size: 250 KB


As you can see even though DailyStartHour was set to "3:00", the daily open, dailyhigh, and dailylow were taken from the broker's dailyopen time.

Here are my results from AnnexFX (server time: 0 GMT) from 2010 until now for a bit of encouragement. Not martingaled:

Attached Image (click to enlarge)
Click to Enlarge Name: equity graph from annexfx.jpg Size: 484 KB


So, hopefully I've made myself clear and we can get the same type of results that I got on AnnexFX with other brokers - it should be worth the effort!

And once again: Thank You!
  • #4
  • Sep 16, 2014 5:43am Sep 16, 2014 5:43am
DailyStartHour should be "0000" not "300". The EA automatically calculates the start hour that corresponds to 0 GMT and shows it on screen. If your broker is GMT+3 then daily start is at 03:00 GMT+3 which is 00:00 GMT.
  • #5
  • Sep 16, 2014 5:40pm Sep 16, 2014 5:40pm
Quoting xux99
DailyStartHour should be "0000" not "300". The EA automatically calculates the start hour that corresponds to 0 GMT and shows it on screen. If your broker is GMT+3 then daily start is at 03:00 GMT+3 which is 00:00 GMT.
Amazing. That works. I am truly thankful.
  • #6
  • Sep 16, 2014 9:56pm Sep 16, 2014 9:56pm
  •  denozi
  • | Joined Aug 2012 | Status: trade with Patient & Discipline | 82 Posts
Hello,
Do i need to change the GMT ? according to the broker time ? or my own GMT time ?
Thanks for your great sharing and I am SUBSCRIBED.
I am a new 2 Forex- Your help would be greatly appreciated
  • #7
  • Sep 16, 2014 10:51pm Sep 16, 2014 10:51pm
Quoting denozi
Hello, Do i need to change the GMT ? according to the broker time ? or my own GMT time ? Thanks for your great sharing and I am SUBSCRIBED.
Thank you and no problem! We're all going to be trillionaires lol! I'll try to help:

According to xux99, who did great work, "The EA automatically calculates the start hour that corresponds to 0 GMT and shows it on screen. If your broker is GMT+3 then daily start is at 03:00 GMT+3 which is 00:00 GMT."

So if I understand correctly, you should leave this line as it is:

input string DailyStartHour = "0000";

and the EA should do the rest for you. I hope that makes sense. If it doesn't maybe xux99 needs to clarify although I don't want to ask too much of xux99 lol.

Hope that helps!

A word of note about the current version of the EA is that I don't think it backtests properly (although I could be wrong), so you'll have to rely on forward testing which is what I'm doing too. There is that backtest from AnnexFX though. Anyway if you're going to try it keep lots low and drawdown shouldn't be too bad, unless volatility continues to drop away.

Good luck!
  • #8
  • Sep 16, 2014 10:59pm Sep 16, 2014 10:59pm
Hello! I hope you have found the answer(s) you are looking for.

I am not positive about this, but may I suggest you look into trading GBP/USD instead of USD/JPY? I used to trade UJ and GJ only and I loved it, but I now use a somewhat different approach.

It has always been my understanding though that GBP/USD is the most consistent and reliable pair to trade, but again, I could be wrong. Look into it, will ya?
Please check out my blog at https://from-zero-to-hero . net
  • #9
  • Sep 16, 2014 11:54pm Sep 16, 2014 11:54pm
Quoting smash1820
Hello! I hope you have found the answer(s) you are looking for. I am not positive about this, but may I suggest you look into trading GBP/USD instead of USD/JPY? I used to trade UJ and GJ only and I loved it, but I now use a somewhat different approach. It has always been my understanding though that GBP/USD is the most consistent and reliable pair to trade, but again, I could be wrong. Look into it, will ya?
Thanks! And I did... nice call, it did really well this year, better than USDJPY. But my emotions are fragile when it comes to starting a new account in the wrong place - and drawdown lol What would you do here? USDJPY still might be the better bet..

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Feb 2014 to Sept 15 2014.jpg Size: 399 KB
  • #10
  • Sep 17, 2014 12:53am Sep 17, 2014 12:53am
  •  denozi
  • | Joined Aug 2012 | Status: trade with Patient & Discipline | 82 Posts
Quoting FXForLife
{quote} Thank you and no problem! We're all going to be trillionaires lol! I'll try to help: According to xux99, who did great work, "The EA automatically calculates the start hour that corresponds to 0 GMT and shows it on screen. If your broker is GMT+3 then daily start is at 03:00 GMT+3 which is 00:00 GMT." So if I understand correctly, you should leave this line as it is: input string DailyStartHour = "0000"; and the EA should do the rest for you. I hope that makes sense. If it doesn't maybe xux99 needs to clarify although I don't want to ask...
Dear FXforLive,

I should thank you so much for your kind help for your clear explanation and sure CREDIT to xux99 for the great job. I am starting to do my DEMO with ExpediaFx and CaptalOneForex with those are 5 digits broker and may instaforex because it's 4 digits with fix 3 points spread. One more question is TF what is the best TF for this EA, will you so be kind enough to share it.

Best regards / Warmest & Sunny greeting from Lombok
I am a new 2 Forex- Your help would be greatly appreciated
  • #11
  • Sep 17, 2014 1:00am Sep 17, 2014 1:00am
Quoting FXForLife
{quote} Thanks! And I did... nice call, it did really well this year, better than USDJPY. But my emotions are fragile when it comes to starting a new account in the wrong place - and drawdown lol What would you do here? USDJPY still might be the better bet.. {image}
Hi Fxforlife, thank you for sharing this EA . Have you had forward test of this EA yet? If Y , what's the result? And also which time frame does this EA operates on?
  • #12
  • Sep 17, 2014 1:21am Sep 17, 2014 1:21am
Quoting xux99
Here is a version with a DailyStartHour option. It is in hhmm format and refers to GMT.
I XUX in setting panel i see SL 20 pips and TP 180 pips but in my chart i dont see nothing
these data are corrects?
have i to put manually?
  • #13
  • Sep 17, 2014 1:38am Sep 17, 2014 1:38am
Quoting denozi
{quote} Dear FXforLive, I should thank you so much for your kind help for your clear explanation and sure CREDIT to xux99 for the great job. I am starting to do my DEMO with ExpediaFx and CaptalOneForex with those are 5 digits broker and may instaforex because it's 4 digits with fix 3 points spread. One more question is TF what is the best TF for this EA, will you so be kind enough to share it. Best regards / Warmest & Sunny greeting from Lombok

You're very welcome denozi. Personally I am going to be forward testing the EA on Armada Markets Exchange account (demo!) as it is an ECN account and costs are minimal compared to a lot of brokers out there. I know instaforex probably won't work very well with a 3 pip spread as the stop loss for the system probably shouldn't be bigger than 25 points. So, my recommendation is to go with an ECN broker with as low a commission and spread as possible.

As for what time frame is best: from what I understand, the EA should work on any time frame. I personally placed the EA for forward testing on the 1 minute chart, although like I said that could have been the 5M, 15M, 30M, 1H, 4H or daily chart. I'm not sure if it would work on the weekly or monthly though (careful you might go crazy with those lol)

Thanks again for your kind words denozi, it doesn't go unnoticed. Keep asking if you have more questions, I'll do my best to answer them.
  • #14
  • Sep 17, 2014 1:46am Sep 17, 2014 1:46am
Quoting kasrafx
{quote} Hi Fxforlife, thank you for sharing this EA . Have you had forward test of this EA yet? If Y , what's the result? And also which time frame does this EA operates on?

You're welcome. I just hope it can make money now with a live forward test!

As for your questions: I just got the EA set up on the chart today and am beginning demo forward testing. I've had two trades so far and they were executed correctly so the EA seems to be functioning like it should. More testing is needed though. The backtesting was really solid but Metatrader can do weird things with backtests so I think the best approach from here is cautious optimism lol

I placed the EA on the 1 minute chart but it should work the same on any time frame unless xux99 has something to say about it. Thanks kasra...
  • #15
  • Sep 17, 2014 1:51am Sep 17, 2014 1:51am
Quoting Pips200
{quote} I XUX in setting panel i see SL 20 pips and TP 180 pips but in my chart i dont see nothing these data are corrects? have i to put manually?

Hi Pips200, perhaps I can answer for xux99. You shouldn't see the stop loss or take profit levels until you are actually in a trade. So, these variables (data) should be correct and you shouldn't have to put them in manually. Thanks...
  • #16
  • Sep 17, 2014 2:09am Sep 17, 2014 2:09am
SOMETHING THAT MUST BE SAID:


on line 544 of the code you'll see this:


return (Close[0]>DailyHigh-3*Point && ct>400 && ct<1200);


400 and 1200 refer to the times when the code is activated. So that code means the EA takes signals from 400 to 1200.

400 represents 100 GMT and should be adjusted as required based on your broker's server time. 1200 represents 900 GMT and should be adjusted as required based on your broker's server time. This way the EA starts trading 1 hour after 0 GMT, the open of the forex market and stops 8 hours later. The timing is crucial so this must be done right.

The same must be done for the sell code on line 544:

return (Close[0]<DailyLow+3*Point && ct>400 && ct<1200);

I would have put this in an earlier post if I would have known people were going to be downloading the EA. Hopefully those who are going to be forward testing the EA see this and can make the necessary adjustments. Cool.
  • #17
  • Sep 17, 2014 2:13am Sep 17, 2014 2:13am
Quoting FXForLife
{quote} Hi Pips200, perhaps I can answer for xux99. You shouldn't see the stop loss or take profit levels until you are actually in a trade. So, these variables (data) should be correct and you shouldn't have to put them in manually. Thanks...
The EA has opened now aposition long but it didnt put any sl or TP
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1.png Size: 38 KB
  • #18
  • Sep 17, 2014 2:17am Sep 17, 2014 2:17am
now i see the SL and TP is all right
  • #19
  • Sep 17, 2014 2:31am Sep 17, 2014 2:31am
Quoting Pips200
now i see the SL and TP is all right

nice
  • #20
  • Sep 17, 2014 2:41am Sep 17, 2014 2:41am
Quoting FXForLife
{quote} nice
Sorry but the valors in setting pannel are in micropips? so 25 SL is 2,5 pips?
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