AmazingEA: Straddle Trading Expert Advisor | Forex Factory

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AmazingEA: Straddle Trading Expert Advisor

  • #1
  • First Post: Edited Jul 2, 2016 6:54pm May 26, 2015 5:38am | Edited Jul 2, 2016 6:54pm
After many years using an existing thread on FF, here: http://www.forexfactory.com/showthread.php?t=6854
I have decided to start a new thread to make it easier to download the latest version etc. which will always be uploaded to this first post.

AmazingEA is a Straddle Trading Program for MetaTrader that places Buy and Sell Stop Orders respectively above and below the current price of a Currency Pair. It has a timer and the idea is to setup a Straddle just prior to major News events. Although many Traders worry about 'Slippage' and Broker Tricks, it really is a case of choosing trades and currency pairs carefully, as it is still possible to do well.

Features:-
Runs on Multiple Currency Pairs Simultaneously
Tracks High/Low of Previous X Candles so can be used for Breakout Trading
Risk based Money Management
Trade in Either/Both Directions
SL, TP, Break Even and Trailing Stop
Runs against Indices/Commodities
Can Self-Disable due to Excessive Spread
Can Emergency Exit Trades affected by Excessive Slippage
Extensive Trade Logging and Recording of Ticks, Bid and Ask Prices
Can open trades far from Current Price and move into Position seconds before News

The version on this Thread was 7.00 and includes many features which can be used (or disabled) and is coded for both MT4 and MT5.

The latest version is now Automated and V8.00 and is available on a new thread:-

http://www.forexfactory.com/showthread.php?t=597450

Best of Luck !
  • #2
  • May 26, 2015 6:39am May 26, 2015 6:39am
thanks sir alan
and we now in our new home
i still search for new broker with low slippage to use this EA
but its so hard and i feel so tired
  • #3
  • May 26, 2015 7:32am May 26, 2015 7:32am
Quoting xDivine
thanks sir alan and we now in our new home i still search for new broker with low slippage to use this EA but its so hard and i feel so tired
Have you tried FXPRO ??? They advertise fixed spreads and further state "Trade the news with Ease" I'm not so sure they work and I know Alan has tried them before but sometime ago I believe. I always wander why they would specifically aimed their advertising at news traders if they don't follow through??? Must almost be illegal to advertise like that???

Might be worth a shot if you haven't already tried them???
Feel the Fear and do it anyway!!!
  • #4
  • May 26, 2015 7:36am May 26, 2015 7:36am
Hi Alan

Nice to see you start afresh as I think a lot of water has passed under the bridge since the original version of Amazing was posted..

Have you got over some of the Broker issues that normally stifle the performance of this EA???

I'm not cash rich at the moment so no point inme testing it on demo is there as its totally different..

Good luck will be back when back in funds...
Feel the Fear and do it anyway!!!
  • #5
  • May 26, 2015 8:15am May 26, 2015 8:15am
Hi Alan,

Will like to add my quota of cudos on a great EA concept. Have been testing with some good success thus far.

Wanted to also find out what is the possibility of upgrading the EA to operate in "stealth mode", i.e. hiding/manipulating the pending order stops, stop loss, take profit, trailing stops and breakeven stops from the broker, in case brokers are stop hunting.

Cheers,
  • #6
  • May 26, 2015 8:42am May 26, 2015 8:42am
thanks I will go through it.
if there is market there will be opportunities
  • #7
  • May 26, 2015 10:13am May 26, 2015 10:13am
HI Alan, two comments is what i have.
1. does the EA work in 4 -digit broker. i tried it simultaneously on demo on a 4 broker outside news hour but it did not open any order but it opened order on 5-digit broker.

2. since slippage is our greatest enemy, can you twist the EA in such a way that we enter buy and sell trade at the same time and the EA monitors our stop loss to bring it closer to a point before the news. in this sense, at the news time, the sell stop loss will be triggered and the buy take profit will fly.
how do you see it sir.
  • #8
  • May 26, 2015 4:32pm May 26, 2015 4:32pm
Looks interesting. Is it possible to have it straddle a range starting at a certain time? Say, 2200 on the EURUSD and pick the range based on the last 10 bars (CTCBN)?

I have been trading like this manually and it's been very successful. Would be nice to automate that.
  • #9
  • May 26, 2015 5:04pm May 26, 2015 5:04pm
Quoting xDivine
thanks sir alan and we now in our new home i still search for new broker with low slippage to use this EA but its so hard and i feel so tired
Hi xDivine,
Perhaps try Globalprime (I can see you're in Indonesia. These guys are Australian, so should be a good fit). I can only recommend ECN brokers at this point. You will still get proper slippage at news time (I don't think you'll avoid this with anyone) but there will be no tricks, no need for sneaking around with your pending orders or worrying about stealth modes.
  • #10
  • May 26, 2015 5:47pm May 26, 2015 5:47pm
Quoting GreenCa
HI Alan, two comments is what i have. 1. does the EA work in 4 -digit broker. i tried it simultaneously on demo on a 4 broker outside news hour but it did not open any order but it opened order on 5-digit broker. 2. since slippage is our greatest enemy, can you twist the EA in such a way that we enter buy and sell trade at the same time and the EA monitors our stop loss to bring it closer to a point before the news. in this sense, at the news time, the sell stop loss will be triggered and the buy take profit will fly. how do you see it sir.
I answered your first question in the FAQ. Regarding 2 that would need to be a different EA. I have written something similar for a friend, but I don't know if it's working well for him or not at the moment.

I will attach a note about Slippage to the FAQ as well.
  • #11
  • May 26, 2015 5:50pm May 26, 2015 5:50pm
Quoting Geekster
Looks interesting. Is it possible to have it straddle a range starting at a certain time? Say, 2200 on the EURUSD and pick the range based on the last 10 bars (CTCBN)? I have been trading like this manually and it's been very successful. Would be nice to automate that.
Hi Geekster, yes you can use it for Breakout trading. I am going to add a question/answer to the FAQ about it.
  • #12
  • May 26, 2015 6:20pm May 26, 2015 6:20pm
Quoting Alan111S
{quote} Hi Geekster, yes you can use it for Breakout trading. I am going to add a question/answer to the FAQ about it.
Ok, thanks! I'm going to read everything again tonight as I must have missed something. I set it up and tried it, the orders were created successfully but they were immediately removed. I think this might have something to do with it not having news pending.

Thanks for the hard work and this thread! If I can do anything to help, let me know.
  • #13
  • May 26, 2015 7:02pm May 26, 2015 7:02pm
Quoting clivepackham
{quote} Have you tried FXPRO ??? They advertise fixed spreads and further state "Trade the news with Ease" I'm not so sure they work and I know Alan has tried them before but sometime ago I believe. I always wander why they would specifically aimed their advertising at news traders if they don't follow through??? Must almost be illegal to advertise like that??? Might be worth a shot if you haven't already tried them???
i know they advertise like that, but from my friend experience, the conclusion is fxpro did slippage too, and their slippage is not too good to trade with
thats why i still wondering about a good broker with low slippage just that,maybe 4-6 pips is okay

i got information about H*tfore* ,i tried, and boom my pending order didn't executed

so hard to find a good broker,i hope someone help me with his experience
  • #14
  • May 26, 2015 7:17pm May 26, 2015 7:17pm
Quoting tonic
Hi Alan, Will like to add my quota of cudos on a great EA concept. Have been testing with some good success thus far. Wanted to also find out what is the possibility of upgrading the EA to operate in "stealth mode", i.e. hiding/manipulating the pending order stops, stop loss, take profit, trailing stops and breakeven stops from the broker, in case brokers are stop hunting. Cheers,
It used to have 'StealthMode' in V2.0.0, where the SL and TP were hidden but I removed it as I didn't have it working with BreakEven and Trailing. You couldn't use them together. I'm not sure why. My code skills are probably better now and I could make it work, but I don't believe that Brokers deliberately 'hunt' stops. The market does (Algos do) but that's another matter. Have you ever noticed how at London open price will go the 'wrong' way for the first 15-30 minutes. This is to trick new traders/short-term traders to go the wrong way. Then you get a good move the other way, accelerated by Stops being triggered.

The way I use the EA now is to enter the market but I quickly adjust the Trades manually. For example, if I sold GBPUSD at 1.5465 I would adjust my 30 pip SL from 1.5495 to be 40pips so that is over 1.5505 and then it would be more protected by the round number. I would take the extra risk temporarily until the price has gone down further.

I also tried programming a version where the Pending Orders were Virtual. The idea was that when Price hit the Pointsaway level, the EA would enter a Market Order. In practice, the reaction time was too slow and you would get terrible slippage.
  • #15
  • May 26, 2015 11:21pm May 26, 2015 11:21pm
Quoting Alan111S
{quote} I answered your first question in the FAQ. Regarding 2 that would need to be a different EA. I have written something similar for a friend, but I don't know if it's working well for him or not at the moment. I will attach a note about Slippage to the FAQ as well.
thank you great man. Please can you share the ea with me. I promise to test it extensively and give you feedback. If it is going to contaminate this thread you may share it privately. Thank you.
  • #16
  • May 27, 2015 10:53am May 27, 2015 10:53am
Hi Alan,

I have some question about amazing ea for 5 digit brokers.

1. If my broker's stops level are 30 points , Can I set Points Away = 31 ?
2. Can I set Modify Gap = just 1 ?
3. If I set slip check = true and maximum slippage = false then will It check for Slippage and reset Stop Losses and Take Profit levels ? I say it because you said "Unfortunately, this value cannot prevent orders going live and being slipped in the first place".
4. I think this EA is really amazing . Will you also add buy limit and sell limit order?
  • #17
  • May 27, 2015 4:56pm May 27, 2015 4:56pm
Quoting showrov
Hi Alan, I have some question about amazing ea for 5 digit brokers. 1. If my broker's stops level are 30 points , Can I set Points Away = 31 ? 2. Can I set Modify Gap = just 1 ? 3. If I set slip check = true and maximum slippage = false then will It check for Slippage and reset Stop Losses and Take Profit levels ? I say it because you said "Unfortunately, this value cannot prevent orders going live and being slipped in the first place". 4. I think this EA is really amazing . Will you also add buy limit and sell limit order?
Great questions. The EA finds out what the minimum distance is for Pending Orders, so if you set PointsAway to 0, it would automatically set 30 if that is what you Broker has set as a minimum distance.

You can set ModifyGap to 1, but in reality 0 is the same as this is the minimum distance the Price has to move to be modified. However, I would strongly advise against this. The reason is that it takes a few hundred milliseconds to modify a trade. Let's say you use PointsAway=100, and we are 5 seconds before the news time. If price changes from 1.23456 to 1.23457 the pending order will be modified. If it then jumps to 1.23540 the EA might still be waiting for the previous change. If it moves up a small amount again, your trade will be live prematurely. Since adding ModifyGap, I have hardly had any trades go live early. It used to work like ModifyGap=10 on 4 digit brokers because the minimum price change was 1 pip anyway. If you want to use minimum Pointsaway, I would still use ModifyGap=5 as a minimum.

If you set SlipCheck=true and MaxSlippage=0, then your SL and TP will be reset to allow for Slippage. It also works out the Slippage value and outputs it to the Logfile.

I'm not planning to add Buy Limit or Sell Limit Orders. I can see that it might be worth creating a new version of the EA that executes Stop-Limit orders. MT5 includes these natively. A Stop-Limit is where Price moves up to the PointsAway level then the EA works out where to enter a Trade to Buy but below the current price based on Fibonacci levels. The danger with this is that price could fall due to a lack of strength in the move so the EA would also have to work out whether the initial move was a strong one or not. However, setting the trigger PointsAway value to a high number would weed out the bad moves.
  • #18
  • May 27, 2015 6:48pm May 27, 2015 6:48pm
My fav EA . Great job, Alan

Many times, my orders was cancelled. And when I checked it on Logfiles, things that make it happen are "STWAN expired" and "MaxSpread reached". So if I am sure with the effect of the news, I'll set STWAN > 10 and MaxSpread = 0. And my orders 90% will success placed, regardless of profit or loss
MAKE SURE you still can TRADE tomorrow
  • #19
  • May 27, 2015 9:51pm May 27, 2015 9:51pm
got stop hunted... broker moved my SL
practising coitus interruptus
  • #20
  • May 27, 2015 11:59pm May 27, 2015 11:59pm
Quoting avibe
got stop hunted... broker moved my SL
OK I'm confused by this statement.....do you mean you got stopped out with slippage? Or was the price manipulated. Brokers don't move stops.

It would be useful to see the log and tickfiles.

Alan
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