EA required using Livelli indicator made 600 pips

The EA is at the top of the page click on the paperclip with 32 next to it
There are 3 EA,s under IGHR name choose the latest version

Hi Guys

1st things 1st, this is a good idea of an EA, although I will add my thoughts on what you could do to make it more accurate...

1st - you should trade according to the trends, hence why you could have a 1h or 4h MA incorporated to filter trades only in the direction of the actual trend this way you would potencially catch the big moves more easily without losses on the oposite way.

2nd - as a trailing stop you can also use a MA in the 15min charts that when crossed above/below trades would close.

Keep it going guys

if the source would be shared we could implement all these great ideas together.

I wonder if we could make an EA that deletes pending orders above or below a moving average, all you need is to select the magic number

From observation, the livelli lines are often tested, almost to the pip, and then price reverses rather than breaking them.
Perhaps the entry price for this system ought to be a couple of pips (plus spread) above/below the lines?

That's what i've been doing, manually, with some sucess, 1h and 4h timeframe.

While we are in a sideways market I think the Ea will lose or break even its only when the market trends will we benefit Rob
I now realize that a higher take profit should be put into the EA
We had 2 good moves on the pound/yen which would have cleared nearly 600 pips each and 1 excellent move on the Usd / cad which
would have also made approx 500 pips
Next week I was thinking of making the overall stop loss to be 1000 and take profit 6000 for each pair

The EA is very unstable .I opened up another demo account this morning and managed to get the EA running
I then closed metatrader down and opened it up again and the second time it came up with a stream of errors
saying it can't find the Ea at the specified location
I was contemplating having another EA running alongside the 1st EA which will sell instead of buy and vice versa at the livelli levels
I would set the stop loss and take profit to 1000 and run alongside the first EA to take advantage of the sideways market
and the trending market

I am getting very impatient running the EA in demo mode
I have put out feelers for a programmer to write another EA at the same specification as IGHR EA but
I have not any response
I am going to see if a programmer on Freelancer dot com will give me a quote on the two programs I require
ie 1 to buy at the blue levels and sell at the red levels and vice versa

I recall in earlier posts that you mentioned making manual interventions to close trades, but with much larger TP's you'd have to let the EA run everything ? (correct me if i'm wrong)

I have made manual interventions on my own account however there are so many trades that i find it impossible to work out what would have happened if i had left them alone. My inclination now is just to let the ea do its thing and see what happens. If I drew a line now I am about 100 pips up on the week...all the gains have been wiped out in the last 24 hours and a huge drop on the close of USDCAD doesn't seem to have fitted in with the 100 pip gain/loss and close. I think you alluded to some variations in a previous post.

I too have tried again setting the ea to both spread bet and cfd accounts and i can't get it to work on anything but my original account even using the same mt4 but just changing account numbers the original works new accounts don't

True I agree with JRob, may be we can wait till the next candle , if next candle opens above the livelli level we can go for buy

or

we can place the pending order above 2 pip + spread

EA needs max range filter because sometimes range is too large.

i don't disagree...what do you think the range should be?

And what time period do you look over to determine the range?

Made 130 pound this week Could have made more if the take profit had been higher
Also the market only trended only 2 of the 5 days

This is exactly what I have done in EA i created. You can define the offset in pips. So for a buy order it will take the trade 2 pips above the livelli line and vice versa for sell.

What I'm struggling with is the take profit and stop loss levels. As I noticed today and yesterday that the retracement in most cases is large. Demo accounts limit your capacity to judge the stop levels. Therefore, I use a $100 live account to test my trades.

Hey guys so today din't seem like a good day for my EA. Mainly because of my take profit and stop loss values. Therefore, updated my Ea with the following features.


1. Live action EA. Which means it will buy when price goes above the blue/green (4) dots & sell if the price goes below red dots (4). Note: 4 dots are needed for the order to be placed. Removed buy and sell stop orders.
2. You can offset the buy/sell execution price by X number of pips to prevent retracement from the range dots (blue or red). For example, if you offset it by 2 pips then a buy order will only be placed if Close of the current candle is greater than the price at blue dot + 2pips.
3. You can set maximum loss on an order as a percentage of equity. This would be an individual order percentage and will close only the order that is loss making. (I use 2-5%)
4. Set Default take profit to the next range of blue dots for buy order or the next range of red dots for a sell order. For example, 4 blue dots are at price 100 and the current candle is at 102. A buy order will be placed at 102 (including offset price of 2 pips). The take profit for this order would the next highest range of blue dots. If the data is not there to calculate the next range (could happen in the case of extended downtrend/uptrend). 1.5 times the ATR(14) value is selected.
5. Stop loss is set to default value of the ATR(14). SL=Orderprice-ATR(14). So whichever occurs first will determine when you get stopped out (point 3 or 5)
6. Added Trailing stop. You can select if you want this to be active and when it should get trigger and by how much
7. You can further select the maximum simultaneous buy and sell orders on a pair.
8. Buy and stop orders further checks for the 14 period ADX value. Only it is above 24 will the order be placed and when DI+>DI- for a buy order. Had to add this after I reviewed my loss making trades. Found entries were made in choppy situations and ADX is the best indicator that I know of as of date to determine choppy trading conditions.
9. Automatically generates magic numbers. So you can load the ea on a chart then save it as a template. You can now add this template to any chart and your magic numbers would be unique to the chart.

Attaching the expert file as well few mqh files that you need put into your includes directory.

Adding an image to explain point 4. For two sell orders that got executed on Euro Yen 15 min.

I just want to thank you for the work you have contributed here. Your EA is very smooth in it's operation and does what you say it should do. I will test this new version and let you know.
ILvFx

Hi,

Can someone post a proper backtested data (300+ trades) of this EA? Haven't seen any results in this thread so far.

Thank you

Good work there Vaibhavjha,
Thanks for sharing.
Could you clarify what you mean in point 8 ''and when DI+>DI- for a buy order''
Thank you

Dear vaibhavjha

Thanks for your great work!

Your expert disappears on my screen when I disable "AutoTrading".
Do you know why?