Can anyone make an EA on this strategy? | Forex Factory

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Can anyone make an EA on this strategy?

  • #1
  • First Post: Apr 13, 2016 1:57am Apr 13, 2016 1:57am
Can anyone make an EA on this strategy?

Conditions to buy:
- the position is opened if the last candlestick is bullish and the opening price is higher than the closing price.
- the subsequent positions are opened with a PipStep value or larger from the last opened position; the lot of every new position is increased by the FirstLot value.
Conditions to sell:
- the position is opened if the last candlestick is bearish and the opening price is lower than the closing price.
- the subsequent positions are opened with a PipStep value or larger from the last opened position; the lot of every new position is increased by the FirstLot value.


Series or single positions are closed by Trailing Stop, or by Take Profit.


Thank you in advance for the time and effort.
  • #2
  • Apr 13, 2016 3:02am Apr 13, 2016 3:02am
I thought best to share some backtest from this strategy.
The EA shown below is only working on a demo so that's why I am asking to reproduce it with rules as post #1.

Backtested on EURUSD 5M - 1week
This is a speculative EA so best to run it during the Asian session and stop it before the London session starts.
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Attached Image
  • #3
  • Apr 13, 2016 7:10am Apr 13, 2016 7:10am
Waiting for your chart examples and more detail.
  • #4
  • Apr 13, 2016 7:32am Apr 13, 2016 7:32am
Quoting kannyjie
Waiting for your chart examples and more detail.

You are right, here is an chart example:
Attached Image (click to enlarge)
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  • #5
  • Apr 13, 2016 7:40am Apr 13, 2016 7:40am
Quoting archishard
I thought best to share some backtest from this strategy. The EA shown below is only working on a demo so that's why I am asking to reproduce it with rules as post #1. Backtested on EURUSD 5M - 1week This is a speculative EA so best to run it during the Asian session and stop it before the London session starts. {image} {image}
If only work in demo is because EA is sealed in Mql5 market? If is so then I don't think is fair...
Try don't lose pants never...
  • #6
  • Apr 13, 2016 9:59am Apr 13, 2016 9:59am
Quoting braintheboss
{quote} If only work in demo is because EA is sealed in Mql5 market? If is so then I don't think is fair...
No, is just that the EA is corrupted or something like that, I don't know how to code.
The important is that in principle the Strategy could work as in post #1 is explained.

Would be great if a coder in this forum would take in consideration to build the EA and improve it with the community help. As is common spirit of this forum.
  • #7
  • Apr 13, 2016 10:25am Apr 13, 2016 10:25am
Some results here following:
You can see there are no loosing trades as the EA had no SL in place, the DD though was limited to the 10%
That's why would be good to make it work with proper ST and trailing stops.
Attached Image (click to enlarge)
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  • #8
  • Apr 18, 2016 9:02am Apr 18, 2016 9:02am
nobody?
  • #9
  • Apr 18, 2016 6:35pm Apr 18, 2016 6:35pm
Quoting archishard
Can anyone make an EA on this strategy? Conditions to buy: - the position is opened if the last candlestick is bullish and the opening price is higher than the closing price. - the subsequent positions are opened with a PipStep value or larger from the last opened position; the lot of every new position is increased by the FirstLot value. Conditions to sell: - the position is opened if the last candlestick is bearish and the opening price is lower than the closing price. - the subsequent positions are opened with a PipStep value or larger from the...
archishard-
I was looking at this concept but the chart you marked where trades should trigger does not match your description.

Conditions to sell: - the position is opened if the last candlestick is bearish and the opening price is lower than the closing price.

If those are the rules why are there bullish candles marked as sell trades?
  • #10
  • Apr 19, 2016 12:50am Apr 19, 2016 12:50am
Quoting cyber1
{quote} archishard- I was looking at this concept but the chart you marked where trades should trigger does not match your description. Conditions to sell: - the position is opened if the last candlestick is bearish and the opening price is lower than the closing price. If those are the rules why are there bullish candles marked as sell trades?
cyber1, thank you for your reply.
To explain better myself, please see the example below:

The open price of candle (2) is higher than the previous close (1) subsequently the price retrace and the EA opens more order in the same direction (3,4,5) that are going to be filled later on when the price go back on its steps (6).

Candle 1 closes at 1.13815, candle 2 opens at 1.13817.
Attached Image (click to enlarge)
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  • #11
  • Apr 21, 2016 3:10am Apr 21, 2016 3:10am
Quoting cyber1
{quote} archishard- I was looking at this concept but the chart you marked where trades should trigger does not match your description. Conditions to sell: - the position is opened if the last candlestick is bearish and the opening price is lower than the closing price. If those are the rules why are there bullish candles marked as sell trades?

cyber, here is the indicator that does what I am trying to explaing. (found on gooogle typing Breakout candle High Low)
Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 breakout_bar.mq4   2 KB | 407 downloads
  • #12
  • Apr 21, 2016 3:26am Apr 21, 2016 3:26am
Quoting archishard
{quote} cyber1, thank you for your reply. To explain better myself, please see the example below: The open price of candle (2) is higher than the previous close (1) subsequently the price retrace and the EA opens more order in the same direction (3,4,5) that are going to be filled later on when the price go back on its steps (6). Candle 1 closes at 1.13815, candle 2 opens at 1.13817. {image}
Hi archishard,


Are we talking GAPS here ?

So if price gaps up following a bullish candle we buy ?

What if after a number of candles we had a gap down following a bearish candle , do we close all previous buy orders, and start a sell cycle ?

Kindly explain more.

Regards,

Khalil
No guts, no glory
  • #13
  • Apr 21, 2016 3:51am Apr 21, 2016 3:51am
Quoting abokwaik
{quote} Hi archishard, Are we talking GAPS here ? So if price gaps up following a bullish candle we buy ? What if after a number of candles we had a gap down following a bearish candle , do we close all previous buy orders, and start a sell cycle ? Kindly explain more. Regards, Khalil
Hi abokwaik,

Now, I have a better understanding and we are talking Candle Breakout.
The indicator above listed helps to visualise the trend, initiated after the previous High/Close has been broke.

Do you agree with the new, following rules?

Conditions to buy:
- the position is opened when the candle break the previous High (z candle).
- if the price retrace, the EA opens additional buy by market based on a sizable grid.
- TP on specific pip size
- SL placed at (z candle) candle Low.
- Breakeven in order to protect the positions
Conditions to sell:
- the position is opened when the candle break the previous Low(x candle).
- if the price retrace, the EA opens additional sell by market based on a sizable grid.
- TP on specific pip size
- SL placed at (x candle) candle High.
- Breakeven in order to protect the positions
Attached Image
  • #14
  • Apr 21, 2016 6:37am Apr 21, 2016 6:37am
Quoting archishard
{quote} cyber, here is the indicator that does what I am trying to explaing. (found on gooogle typing Breakout candle High Low) {file} {image}
sorry to say but the indicator is just a donchian channel and not the mark of a higher open!
(.)(.) think first ...
  • #15
  • Last Post: Apr 21, 2016 9:25am Apr 21, 2016 9:25am
Quoting maximumguita
{quote} sorry to say but the indicator is just a donchian channel and not the mark of a higher open!

Thank you for the info. Anyway I am tryng to develop an option based on a working EA. It doesn't matter where one or the other resources are coming from.
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