Fishing EA

Will be researching the Fishing ea.
This is the site for original.
https://www.mql5.com/en/code/15957
Input menu on the expert (AK) mq4 is translated from the Russian.

EDIT:
Switching to litewave
https://www.mql5.com/en/market/product/14669Edit

EDIT: 4/26/17
Back after 4 months.
Testing the big step strategy.

Using the same time frame I found to be good for the other expert... last half of London session...
I want to run a series of tests in the tester.
Unfortunately there is no time limiting function built into the expert but the code is accessible with the mq4 file.
I'll have to tun it manually for 10 to 14 AAAFX using the T3m on the day candles to identify direction of trades.
$1000 1:100 .01
buy and sell

Start $1004.15 sell

$1013.22 buy and sell

Yikes. Mickey Mouse cut and paste..... coding... Somehow I did it!!!
Added a time filter to the Fishing ea...

Set up on demo to trade between 10 and 14 (Last half of London)

Hours trade isn't exactly right.
I wanted it to only regulate when to open a trade.
But not to stop the ea altogether.
So that if there are trades opened after the opening times they can still close.
Right now it just shuts down the ea altogether at end time to trade.
When I have time I can try to see how to code it. But my skills are practically non existent.

Maybe a coder will drop by.. No way I can do it.
I can cut and paste but t his one is beyond me.

It'll still work out for the demo. Since I can set the start hour. then when the end hour rolls by I can manually turn off any open to buy or open to sell and just let the already open positions play out. This is working out very nicely in the tester even though it isn't quite right. I can see what is happening and it is acceptable.

jiva i have been playing with this EA for a little while now.Although i don't use it as a 'grid' EA. i use it more to get multiple entries with the current trend (generally after news)

I'm doing much the same with it. Find a trend and let it trade the trend. I'm using the T3 ma on the day chart to identify the trend and setting the ea up on the 1m during the last half of London. It enters on pull backs which is great.

Looks good. Have you tried on real account yet?

For some unknown reason I stopped the fishing ea and started the litewave on this account.
I want to continue with the fishing ea. But now there are two trades open with litewave over the weekend.
I have both eas running on the account. Fishing and litewave. When I can take litewave down I will. It is set to run for 4 hours only.
Fishing is good to go for 14 hours.
I want to practice trading with these with a fixed position size.

Making more sense now, the algorithm for the fishing ea.
It is totally unnecessary to consider indicators, moving averages, bands or trends...
This is an algorithm based entirely on probability of price action.
It's a hedged strategy.
Set long and short to close for a significant amount. Say $50 or $100
And set the combined total of net gain to $1.
What this does is set up hedged positions.
If the prices are moving short then the short position will close for $50 or $100 several times while the long positions will be negative.
As the market turns the ea opens more shorts but now now they are the ones negative and the longs close several times for $50 or $100.
If there isn't much trending going on then the positions will close $1 several times.
If things get really unbalanced with too many positions open, everything will close for $1 at some point and the ea can start over again to build the hedging.
It really is a kind of Martingale.
It doesn't open different sized positions but it can open several positions of the same size at more or less the same price as the price action bounces up and down.
It can get messy like all Martingale's do. Checking back for around 5/5/16 on the calendar I don't see anything outstanding. Data was mixed. No Fed speak. Maybe there was some other news... something out of Europe... Brexit or Grexit rumors or something.

Enters on pull backs.
If prices go up it enters short at set amount.
If prices go down it enters long at set amount.

It's been a while. I'm back.
Looking at trading the start of the new trading day for just 1 hour.
It may not be necessary to identify a trend. I'll test like that at first.
Unfortunately the expert cannot be set to run without visual setting.
Even adjusting settings in the tester it does not keep the settings. Must be something in the code itself.
I looked into it but can't find the problem.
So has to be done in visual mode but it is semi automatic and can be set and reset while the tester is running.
Just slow that way. And not possible to run the optimizer.
Something to consider.. When it opens a trade... for .01 with profit 5 pips.
Set it to open the next trade should it need a recovery trade for .02 profit 10 pips.

Here's how it played out. The sell closed without the need for a recovery trade.
I was a little slow in closing the ea down after the alotted hour but it was a good chance to see how recovery could work with this.
It opened a buy for .01. I set the buy at .02 if it opened a recovery trade. and changed the tp from .5 to 1.
Worked like a charm.

This could actually be a workable strategy.
The step is set for 5 pips tp $.5
It is the very slowest time of day... hopefully to avoid getting caught in a Martingale trap...

It's not exactly proportionately right. But I upped the position size by .01 each time it took a recovery and upped the tp by .5
Closed for $3.50 after all was said and done. 4 positions total 3 buy and 1 sell.

Similar.. The sell closed for $1
Three buys, .01, .02, .03 total $1.50

First time setting up and I had the fishing ea set wrong.
For some dumb reason I had the the step set to .5... yikes it opened a zilliion sells in about a half a second.
Should have been set for 5 ...
Should come out alright. famous last words.

The way this thing works is if there is a move for set amount of steps it will open the trade. that means if there are already several positions open but not reaching the profit target it can open more positions in side the range. That is not wanted. That's what happened tonight. The buy or sell or whatever has to be turned off unless trading is outside the range and starting to trend.
first I had it set wrong and it opened a zillion trades in less than minute.
And then it opened trades inside the range because I didn't know to turn the buy and sell functions off.
Still think it'll come out alright in the end.
That means it is not necessary to let a martingale blow an account up.
Just turn it off if there are too many positions opening. And wait until it turns around with what you already have.
Not the best. But could salvage the account.