New E A based on Candle reversal
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Sir,
I am interested in generating using the FXDREEMER blocks an EA based on Candle reversal.
The idea is simple.When the candle close value is HIGHER than the close value of previous candle , which is again higher than the second previous candle close value then a BUY trade should be opened. This opened BUY trade should be closed only when the reversal of the candle takes place ( that is ) when the candle low value is lower than the candle low value of the previous candle which again is lower than low value the second previous candle. There is no Take profit or Stop loss.
At the same time the BUY trade gets closed simultaneously a new SELL trade should be opened. This SELL trade should be closed only when the trade reaches stage when the candle again reverses ( that is ) when the High of the candle is higher than the hig of theprevious candle and also higher than the second previous candle.
The same pattern should again be repeated and the trades should continue in this manner.
I made a sample of such a E A based on the advise of the FXDREEMER expert but I am not sure whether the E A is really doing the JOB properly.
I tried it on the Strategy tester ( M5 Frame ) and got the following results Total Trades 233 / Gross profit -258 / Total Profit trades 90 / Total loss trades 144. and end trades are 2. I noticed that the value of each trade is very low ranging from 0.5 to 2 mostly and rarely 5 or 6 . The trades appear to be almost closing very soon after opening even when the trend is up. I did not notice that the closing is at the reversal pont of the candle.
I used total of 10 blocks ( 5 on each side ) Condition / Condition / Once a Bar / Close each trade / and Sell ( Buy )
But I do not think that I have made the correct E A.I do not know how to Up load the chart but I made a file on my Desktop which I am giving with this .
I would be grateful if someone can help me in developing this E A. I am not a programer and can use only the blocks provided by FX Dreemer. Can any other combination of block be used.
I do not know any programing and so please help me in getting this E A working as per my original idea.
thank you
kamath
29 October 2013. -
Kamath, remember this email sent from me 5 days ago:
__Now you have:
Conditions -> Once per bar -> Close (Sell) -> Sell now
Conditions -> Once per bar -> Close (Buy) -> Buy now
so... what you have is that on every new candle you close old trade and open new one with the same direction.This (http://fxdreema.com/shared/HhJKocjGd) creates trades like Buy-Sell-Buy-Sell on every opposite signal, but there are losses because... who says that when a candle starts to fall down (rise up) it will continue doing that at least until it closes. There are losses because sometimes after you receive signal that the candle goes up, it then starts to go down (and vice versa)[/quote:1lq41d2t]
Ah, and FXDREEMER also sounds good
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Yes Sir,
As I mentioned earlier the E A I made was based on your advise. But this is the same E A that is giving a large number of trades and of very low value. Even when the candle is shooting up it gives a sell trade. I have observed in the strategy test that the E A is really not getting the trade closed at the right point when the candle is reversing. It is closing erratic and so generating a large number of trades.
I feel that the problem lies in the Closing block ( or any part of the program ) that it is acting earlier than it should. I may be wrong but this is my observation.
I am sure some body will be able to find a solution to my problem and help me in getting the proper E A that I have in my proposal.
Thanks for your help.
Kamath
29 Oct 2013. -
Here on this forum they rely on me to get an answet
No, it's not "Close each trade", it's all about the conditions. And now they are exactly as you say, but note that Candle Close [0] is basically the current price and in the moment of opening the new bar is the same as Candle Close [1], so your conditions react at the very first moment when Candle Close [0] goes above/below Candle Close [1].
Try to compare 1 with 2 and 2 with 3. Also, where "Once per bar" is located (before or after conditions) also makes difference.
Don't focus on "Close each trade", it works as it should - when executed it closes trades you want... but the point is when it is executed?
