using a similar system involving fibonacci - look forward to an indicator and or EA to test as i live in Canada and tend to fast a sleep at 5am GMT!!!
keep it up
Attached is the first version of the EA I developed for this strategy. The features of this first version are:
It will draw the breakout box using the (start/end) hours specified in the input parameters, as soon as the end hour is reached
It will open a trade if there is a breakout (the breakout candle must be closed before the trade will be opened) and draw the fibonacci retracement as specified by ErollZach as soon as the position is opened
The SL and TP are configurable, the values specified must be percent of fibo retracement (ie you can set any integer > 100 for TP, any integer < 100 for SL)
You can set the EA to close the opened orders for the day at a specific time if SL or TP are not reached (see CloseDayOrderAtHour ad CloseDayOrderAtMin parameters)
You can use the AsianSessionPipsMax parameter to disable trading if the asian session pips is too high because often you will not get a valid breakout or ADR will be reached already
You can set VisualMode= false to disable the visual + logging stuff (box, fibo..) and use it to trade only. It can be useful to speedup backtests.
Also be advised that this first version must be attached to each pair you want to trade. It does not choose the pairs nor trade multipairs by itself. You can disable auto trading with parameter TradingEnabled=false if you want to allow a pair to trade one day, and disable it another day.
I may add a news filter to automate this in v2.
I will take any suggestions into account and will do my best to improve the EA, but please be patient because I don't have much time. Don't use it on live account, it's still experimental !
throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
