EA with BBands
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@giovanni For 1: Set the candle ID to 1 in block 13(more options) as for buys, I guess it was omitted.
For 2: check those tick boxes at the right in blocks 12, 13, so you can change parameters.
If you need different parameters for different timeframes, then those should be on different branches, and maybe make a condition which to trigger when. You can set different timeframe in more options.
For 3: If you need different settings in the trailing, change custom level to pips, and then the trailing start as well.
To work on trader.philips project, you need to download the mq4. Then, load the project, this imports variables and everything. Otherwise, you can't work on a shared project, the changes you make are reversed to original after a while. -
@cpxiom Yes, you're right. Here is the advanced version. 0_1575333611385_BBandsStop.mq4
And the Project Link.
I was not sure about the trailing so I did both classic trading and BBands trailing to choose from.
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Good morning guys. And sorry for the delay in answer only because I've made some test.
Great job Trader.Philipps. Congratulations. And thanks to CPxiom for suggestions.
The new EA sent by trade.philipps, I am already using it on 9 crosses with a 60 minute time frame, with length 35, and once they have opened the trade, I will use the default trailing stop on Mt4 with 15 pips of trailing and a target price of 50 pips which I position manually . I believe that 90% of the trades can close in profit of a few pips, but if we consider 9 crosses, three or four trades per day on nine, the profit should be guaranteed.
The new EA posted is what I had imagined, but it should have a profit target and a stop loss in pips and not in percentage, and a trailing like by default Mt4 and make the reversal in loss to the second point is appear. In this case we have the reversal protection. That is: If I set 10 pips trailing start and 5 pips of trailing stop, if it reaches 20 pips and then retraces, our profit would still be 5 pips. In the test, many trades reached a profit of 20/30 pips and then closed at a loss
I noticed another strange thing: The risk percent rate (2) is not regular. executes 0.01 lots and then after a loss runs 0.06 lots. Perhaps it is better to have fixed lots and change them once a day if necessary.
Once modified, we will be able to start the optimization for the length and the trailing for each cross with at least one year of backtest and then we will compare our results.
Good evening everyone and Thanks again. -
@giovanni Be careful with the BBands as they produce false signals in range markets a lot!
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Yes. I am aware that there may be false signals.
For this reason I am satisfied with a few pips profit per trade helped by a correct trailing stop. -
It's 11,30 am here. Brilliant sunshine on Garda Lake in Italy.
Today I used the trader.philipps system on nine crosses with a 5 minute time frame and 50 length. Not knowing yet how its logic works, I followed it closely. During the first three hours, he made more than 38 pips. Maybe today it was an exceptional day, but still made them.
As said yesterday, once it opened the trade, I use the Mt4 trailing stop with 50 points and I place the profit at 20 pips (I shouldn't do it, using the Mt4 trailing stop)
To make this system completely automatic, and I think it's profitable, the following changes should still be made:
1- Fixed lots to change daily based on the equity because I don't understand why it runs 0.01 lots and then 0.03 lots on another cross. ( or modify it properly )
2- Trailing stop as Mt4 with 50/100 points modifiable depending on the cross used and after optimization, without trailing start and trailing stop (I don't know how it works but it is valid)
3- Stop loss only when performing the reversal at the second point and not at the touch of the indicator.
4- No profit target (but only to be followed by trailing Mt4)
Excellent start and end day. For the 5 minutes I start at 07.00 in the morning and finish at 18.00 in the afternoon to avoid false signals, while for 60 minutes and more 00.00 to 24.00
I believe that once the changes have been made, the system can work well and make profits. -
If this is of your interest , these are the results from this morning at 8.00 to 17.00 PM my local time:
I used the trader.philipps system ( M5 with length 50 for all ) but with the trailing stop of defaul Mt4 with 50/70 points based on the following cross. EurUsd-GbpUsd-UsdJpy-EurJpy-UsdChf-UsdCad-AudUsd-EurGbp-NzdUsd.
20 Trades - 15 winnings - 3 Losses - 2 in draw
Max win on NZDUsd 19.6 Pips
Max loss on USDJPY 15.2 Pips
Total Pips in Profit = 73.4
Total Pips in Loss = 30.9
Total Pips in Profit end of day = 42.5
Once we get the changes on the system described above, we can start optimizing it.
We'll see tomorrow. -
@giovanni Hi trader. phillips
I had to interrupt the execution automatically because the system does not reflect the lots set with 2% risk. In fact, while in purchase it carries 0.01 lots, for sale it carries out 0.03 / 0.05 lots always on the same cross.
I would like to try to develop it myself, but I don't know how I should buy and sell at the second point as explained. It would also suffice to have a trailing stop as the default in Mt4 to have the correct system. For each open trade, immediately set the trailing stop of 5/7 pips.
I think it's a pretty simple thing for a professional like you.
Can you help me with a project? Thanks -
@giovanni The lot size with risk % from equity depends on SL and of course the account equity. If there is not enough equity for the SL, it will take the lowest possible wich is 0.01. You might change Buy and Sell blocks for risk % from balance maybe or any other money management from the list.
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@trader-philipps
Perhaps there is an error in your last project. See Attachment.
In the Risk Percent BUY NOW presents "cRiskPercent" while in the Risk Percent SELL NOW "2.5" is present. This is probably the error.
The system works properly, but you would be able to change the Trailing Stop as required ? Would be great
Alternatively, can you suggest me how to design the buy and sell every time when the second point is present? Tanks
fxdreema.com/shared/FrkxagS4e
