is this possible with fxDreema
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Hi,
I'm a newbie to fxDreama. I didn't think I will be able to build my EA but the positive feedbacks on fxDreema convinced me to give a try.
But before investing the time required for learning to produce my EA I'd like to know if it's at all possible:
I will use my own indicator, which already gives signals (arrows). Every signal comprises of two arrows, so Up signal is 2 arrows and down signal is 2 arrows.
What I want to do is as follows:- For Up signal for example. Say the indicator prints the first arrow (under BAR A lets call it) and then prints the second arow (under BAR B). Then I want the EA to enter a trade not immediately but when price retraces back to to X pips from the close or open price of BAR A (where X is user configurable in pips).
- There will be condition that if price exceeds the high of BAR B by Y pips before retracing then operation is cancelled and trade will not be enetered.
- There will be additional filters taken from other indicators such that if indicator A returns True then take the trade and if returns false dont take the trade.
There will be number of such filters and each one can be activated separtely by the user. - Stop Loss- Z pips behind low of BAR A where Z is user configurable.
- While in an open trade and we get opposite signal close the trade.
- Take profit as a multiply of BAR A (full range of BAR A or body range- user configurable).
Next phase of take profit will be to use some values from SUP/RES indicators.
I will greatly apprecaite any comments and a quick bullets assistance of how to get started.
Ben -
Because you want to work with indicators, you must know about their buffers, how to deal with indicators in EAs. This is important because every custom indicator is different, but they all follow same basic rules, and when you know those rules you know every custom indicator. After you understand what indicator buffer is, you can use one block with name "Levels tester..." to spy some buffer (to see what value is in the buffer in realtime), and when you know that you can manipulate it's values the way it's needed. But there is also a category "Indicators" with some blocks that should help this process. For example, to detect when arrow appears, use "Indicator appear" block (you have to know which buffer corresponds to the arrow). Also notice that some custom indicators have nothing on their buffers or have a mess there. The other things... later.
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Ok I will have a look.
And if I understand correctly the other functionalities and features that I mentioned are possible to achieve with fxdreema? At the moment yes or no answer will be sufficient. Thanks again. -
Yes, but not exactly in the way you describe - if X happens, and then Y happens, do Z... It's better to think from Now to the Past while creating conditions for EA, because MetaTrader knows old values of candles and indicators and in order to decide to do Z or not, you only have to ask Now if X and Y happened in the Past.
But of course there are situations when this is not the best way to do it, then Now you have to save value in a variable (or more variables), let's say that this variable describes some event, then in the Future check that variable in order to decide to do Z or not.
In other words, when Now you have all the data needed (in the Past) - use it. There is data available about candles (O, H, L, C) for all timeframes and symbols (well, MT4 can backtest only one symbol), indicators data is also available. And when you don't have something that will be needed in the Future, save it to the memory Now, but note that when you restart the EA this memory will be cleared. -
ok doctor got it.
Defintely being able to make my own EAs quickly is a great thing however I can see that it will require me considerable amount of time to learn how to do it, which makes it a chalenge in these bussy days.
Are there any guides or manuals or recommendations where should I start? -
If you know how EA works, then it's not that hard to understand what to do with fxDreema. Here are some examples: http://fxdreema.com/examples and here I tried to explain things... well, not very successfully, but it's something: http://fxdreema.com/documentation/
Actually my point of view about fxDreema is that this is a tool to learn and feel different trading strategies, you know that learning happens quickly when you do something with your hands.
Otherwise you can always find some ready EA from internet. Most of them are paid, but there are forums over there where you can find cracked versions of them :))) http://www.fxmania.ru/experts/, somewhere in here http://forexsystems.ru/ and here http://forum.mt5.com/ and who knows how many other places. I can also recommend this website http://eareview.net/best-forex-robot. And here is where I should say that even if you backtest EA and it is profitable, in reality it may be not profitable at all, because MetaTrader has it's (known) problems that some people are trying to exploit only to sell you EA that looks profitable
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Yes I saw one of your posts in which you warn about the fact the Strategy tester is not always reliabale, and if I rememeber correctly the main isue was with 1 minute time frames and that 5 minutes and up should be ok...?
Anyway, I'm past the days of buying "black box" EAs. Today I have the knowledge to design my own EAs and the methods for that are either using FXdreema or hiring a codder. I prefer the first method for many obvious reasons but again time is an important factor for me at the moment.
I will start having a look on your documentation.
Thanks again
