Price Action Trading EA | Forex Factory

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Price Action Trading EA

  • #1
  • First Post: Edited Dec 1, 2022 5:10am Feb 10, 2017 11:57am | Edited Dec 1, 2022 5:10am

PRICE ACTION TRADING EA



I will be creating multiple price action systems and testing them. Only the successful ones will remain here at this first post to download, rest I will remove them.
Attached Image (click to enlarge)
Click to Enlarge Name: snn (2).png Size: 31 KB

You can test this trend following EA which is based on price action to take trade. It is successful in live market and I personally use it on default setting on USDJPY pair.
This EA can be used on any trending pair like GOLD or US30, or GBPUSD or USDJPY, etc
Download link - Trend Following Expert Advisor
Attached File(s)
File Type: ex4 Trend Following Free.ex4   42 KB | 1,641 downloads | Uploaded Dec 1, 2022 5:08am

This free version will only work on EURUSD (medium quality pair)

The EA is already optimized. Can be directly run on charts. Just in settings make Allow Trading = TRUE, so that the EA take trades
  • #2
  • Feb 10, 2017 12:06pm Feb 10, 2017 12:06pm
Today i incorporate just the basic 3 bar swing pattern analysis and taking trade with it as the only signal.
I tested with few pairs like USDCHF, EURUSD, etc.

Test result:
With default settings H4 time frame chart produced best result with all the pairs i tested.
Snap snot attached for a test of $100 trading account with 3% risk in USDCHF for a period of (2010- current time)
Took 1 trade at a time

Please test the attached EA and let me know your views.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 30 KB
  • #3
  • Feb 10, 2017 1:40pm Feb 10, 2017 1:40pm
This is crazy
I just did little adjustment with swing detection and this is the result for $100 account with default settings.
Though it need more adjustment as profit making sharp turn after certain level. But result is still better then previous.
Modified ea uploaded at beginning.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 23 KB
  • #4
  • Feb 10, 2017 8:28pm Feb 10, 2017 8:28pm
I did small changes. Still need more stability.
Converted $1000 to more then a million dollar from 2010 to current time testing USDCHF
Changed EA uploaded.
Its very difficult to interpret what eye can detect in terms of code. Still loving it.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 20 KB
  • #5
  • Feb 10, 2017 9:25pm Feb 10, 2017 9:25pm
I was playing with the settings. I turned the max risk percent to 5 and unbelievably i turned a $1000 account in EURUSD to a 8 figure account compounding it from 2010. Though it just back test, i see great potential .
Currently i am only running it on one pair which generate less signals to trade. If i will run on multiple pair at a time i could generate more signals. It may happen more signals may not be always good, but i cant predict the result until i try.

Best working with higher time frame. 4hour is the best.
  • #6
  • Feb 11, 2017 1:17am Feb 11, 2017 1:17am
I have modified the EA at the beginning. Settings is optimized to the best as i could make.
BEST pair to trade with EURUSD and USDCHF.
Not completely checked with other pairs.
Best time frame 4 hour.

Currently no error with EA.
Until I come up with a new method to describe price movement, this is the best from my side.
Lot size and stop loss levels are automatically calculated with desired risk percent so
Enjoy trading.
  • #7
  • Feb 11, 2017 8:57am Feb 11, 2017 8:57am
I added a new parameter which keeps stoploss distance somewhat logical. Sometime ea is keeping stoploss very far and reducing the lot size to keep the risk percent, so i made a new condition where if stoploss will be at a far distance than average price movement, then trade will not be taken.

Modified EA uploade.
Profit has increased exponentially
  • #8
  • Edited 2:42am Feb 12, 2017 2:24am | Edited 2:42am
Settings update:
Reducing the max stoploss distance multiplier from 2 to 1 increases more stability.
It helps to take trade in more volatile pairs.
It also helps you if you increase the risk as it reduces more unwanted trades and overall increase the reward factor.
Attached EA default settings is changed to it.
Try testing it yourself

Just fun yourself... Try increasing the risk to 5 or 6 or 7% and in EURUSD and backtest using $500 initial balance from period of 2010 to today then see result yourself.
I got 13% max drawdown using 6% risk and final account balance greater than my cell phone number..
Comment your views
  • #9
  • Feb 12, 2017 6:14pm Feb 12, 2017 6:14pm
I will test this week using a PVS, on Friday I present the results
Carlo Cesar
  • #10
  • Feb 12, 2017 11:38pm Feb 12, 2017 11:38pm
Quoting carlobdiniz
I will test this week using a PVS, on Friday I present the results
I appreciate it. Please test for more than a week.
The time frame best suited is 4 hour so there will be very limited numbers of trade available which the EA will pick.
It will be better if you can run the EA on multiple pairs EURUSD, USDCHF, GBPUSD, etc. Just take a backtest to check the pairs are making good profit and run on all those pairs at a time.
  • #11
  • Feb 13, 2017 3:33am Feb 13, 2017 3:33am
Hi D.s,

I just finished installed your EA to my demo MT4 platform.
I will let you know the result later.
Thanks for sharing.
  • #12
  • Feb 13, 2017 7:15am Feb 13, 2017 7:15am
Hello i downloaded Price Action EA.
Put it into EA Folder on mt4
Put onto chart but does not seem to be working because the emoji in top right hand corner is not smiling.
The red wave lines under EURUSD are moving slowly
Can you suggest where i went wrong?
  • #13
  • Edited 10:13am Feb 13, 2017 9:31am | Edited 10:13am
Quoting winterpak
Hello i downloaded Price Action EA. Put it into EA Folder on mt4 Put onto chart but does not seem to be working because the emoji in top right hand corner is not smiling. The red wave lines under EURUSD are moving slowly Can you suggest where i went wrong?
Your Auto trading button present in your MT4 platform is not on
Click on it. It should turn green
Then again put the EA and it should work
  • #14
  • Edited 10:52am Feb 13, 2017 10:36am | Edited 10:52am
Quoting D.s
{quote} Your Auto trading button present in your MT4 platform is not on Click on it. It should turn green Then again put the EA and it should work
Thank you very much for that advice, now have emoji with smile and Autotrader turned on Green light.

Forgive me i am new to this, so am i suppose to load price action onto these certain pairs and leave the price action EA
to open and close trades also set stop losses and take profits?
I am not getting any red or green arrows showing up on the charts like what is shown in your video
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 490 KB
  • #15
  • Edited 6:14pm Feb 13, 2017 5:53pm | Edited 6:14pm
Quoting winterpak
{quote} Thank you very much for that advice, now have emoji with smile and Autotrader turned on Green light. Forgive me i am new to this, so am i suppose to load price action onto these certain pairs and leave the price action EA to open and close trades also set stop losses and take profits? I am not getting any red or green arrows showing up on the charts like what is shown in your video {image}
if you are testing in real time, you need to set up the EA and lave it open. As the EA works with 4 Hour time frame it will take time before EA can spot any trade which will fall under your risk condition and hvee a potential earning chance. So wait for it. Better to setup a VPS and leave EA inside the VPS, then you can shutdown your system.
Accprding to my assumption the EA takes 2 -3 trade average per week in single pair. So if you want more trades setup the EA with multiple pairs, so that you may get more trades from different pairs.

Next thing may happen when your risk percent is very less and your account balance is too low then EA will not be able to take a trade as your risk percent doesnot permit it. For example your account balance is just $100 and you set your risk limit to 1% then the EA will calculate for the trade setup what is the risk in pips it need to take, then it will see for that much pips what will be risk in terms of your deposit currency for the minimum lot allowed by your broker. If it could generate a minimum lot according to your risk level and still stay below your actual risk set, then it will increase the lot size slowly until it just touches the border were risk doesnot exceed your limit and lot size is at its maximum it can find. When all these things are over, trade is placed.
  • #16
  • Feb 13, 2017 8:18pm Feb 13, 2017 8:18pm
Thank you very much for your detailed explanation and your patience. I truly appreciate it.
On the chart it is written end month 3...year 2017
So do i only have Price Action EA trial until then.
What will happen if one wants to carry on using the EA.
can you message me on that please.
  • #17
  • Feb 13, 2017 10:16pm Feb 13, 2017 10:16pm
Quoting winterpak
Thank you very much for your detailed explanation and your patience. I truly appreciate it. On the chart it is written end month 3...year 2017 So do i only have Price Action EA trial until then. What will happen if one wants to carry on using the EA. can you message me on that please.
As you can see the EA is brand new, And even then I could not program everything what a human eye could detect as it is not easy to define price movement in terms of mathematical numbers...., The truth is its just 10% of my trading knowledge i could put into it, rest all i was unable to code. And most important is only back-test results are successful but to achieve real success the EA need to perform good in current time. So I purposefully put a 2 months limiter on it so that trader don't get too much attached to it and trust on their trading style too. I just hoped this EA will work as a backup booster for new traders till they can trade themselves. That was my goal for developing it.

If this two month result comes good and satisfies me then i may think of extending the limiter. I simply cannot put others people account on risk just by blindly trusting the EA.
  • #18
  • Feb 14, 2017 8:16am Feb 14, 2017 8:16am
Quoting D.s
{quote} As you can see the EA is brand new, And even then I could not program everything what a human eye could detect as it is not easy to define price movement in terms of mathematical numbers...., The truth is its just 10% of my trading knowledge i could put into it, rest all i was unable to code. And most important is only back-test results are successful but to achieve real success the EA need to perform good in current time. So I purposefully put a 2 months limiter on it so that trader don't get too much attached to it and trust on their trading...
Hello thanks very much i understand what you saying, very thoughtful too. Hopefully this EA comes up good and you extend it's trial.
I have already put it to use so will see what results i get.
  • #19
  • Feb 14, 2017 7:46pm Feb 14, 2017 7:46pm
I too hope the EA works. Traders please do a lot of testing for this entire two month with as many pairs as you can and share their test results in this thread so that we can finally judge if this EA works well and then I can remove the limiter.
  • #20
  • Edited 9:34am Feb 15, 2017 9:20am | Edited 9:34am
I did few changes in the code as a result most of the pairs are showing positive growth with the back test . I am not sure if this new version is better or the previous version was better in terms of large capital growth but one thing for sure this new version will be more trusty than the old version as it is working on most pairs .
THis new version attached at the beginning,

Traders who are testing it in VPS please test with this new file.
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