Stop and reverse strategy(No martingale)

[Arrow82]

Hi friends,
Need help, my strategy as follows:

1. Buy or Sell depends on the input we can choose.
2. If buy, then SL 50 and TP 20. if buy order stopped out, need to open sell order with SL 50 and TP 20.
3. the loop continues as mentioned above.
4. please help me in creating this into EA.
5. If you guys have better or improvised this idea, please suggest we can discus about it. kindly help, thanks.

[roar]

Hi!

I'd do something like this:

The important part is to find a method that "switches" between the normal trade entry and reversing entry. I used the "Use_loop" variable for that.
https://fxdreema.com/shared/7FGqF57Gd

[Arrow82]

@roar , Thanks a lot for helping me, appreciate your help. I will try based on your advice. Many thanks. God bless.

[roar]

@arrow82 Glad to help. I just realized I made a mistake with the earlier picture, it would run into problems with the very first trade. I corrected it.
Should test my projects before posting them, lol

[Arrow82]

@roar thanks Roar for check and correction, appreciate your extended help. currently i am trying it on Demo. Will update the progress. thanks

[Arrow82]

@roar i tested it on DEMO, the first trade was a buy and then once hit TP, there is no next trade triggered. My requirements is start with buy or sell order given to choose.
Scenario 1 : if taken buy then TP reached continue next order buy and so on, once hit SL change the order type to Sell.
Scenario 2: If taken sell order TP reached,continue next order sell and so on, once hit SL change order type to Buy.

SL 50 and TP 20 for both buy and sell order.

thats my requirement, Hope you can help me to build the EA. not sure whats wrong.kindly check , thanks.

[roar]

@arrow82
Oh, I thought you only wanted the loop when SL gets hit, not TP. Just a sec!

I'm also going to assume you will open the first trade manually. We can simplify the project:

https://fxdreema.com/shared/MmqzG7lL

[Arrow82]

@roar thanks for your inputs in making this project going, appreciate. when i loaded the EA into the chart, it doesn't give me any option for me to choose buy or sell..it triggers automatically. i am testing it on demo now, it triggers sell..will monitor and update you the progress, thanks a lot for the help.

[roar]

@arrow82 I think it opens a sell because it looks to your trade history.
We can solve this by checking only the trade history of last 1 minute; if no trade was closed, EA will not do anything.

https://fxdreema.com/shared/48tE3bdgb

[Arrow82]

@roar Hi Roar, i tested it, it doesn't trigger any trade..My request is the first time when i attach the EA to the chart, is it possible for me to choose where should i head on buy or sell options to choose, and then after the first trade hit SL, reverse the order and if it hit TP continue same type order and the loop continues. i can't thank enough to you for your help. My sincere thanks to you. please help,

[roar]

@arrow82 The reason was probably filtering by group number, I changed it so it doesn't make any difference between manual and automatic trades.
Installed mt4 and finally tested myself, seems working now

https://fxdreema.com/shared/PtJk3tFEd

[Arrow82]

@roar Million thanks for your reply and help, It works great. currently i am testing this strategy, not sure will it make money or not. BTW do you have an EA that you are using in FX and making money in the long term? please help, thanks.

[roar]

@arrow82 I'm sorry, but I am 100% certain this particular strategy will only lose money.
To profit, you need to be smarter than everyone else. Switching from buy to sell is not smarter than everyone else, you see
It is a good starting point, however. This business takes a lot of work. Don't think it as a get-rich-quick, or gambling, or a hobby - think it as a career.
Every EA will always have a risk-return relationship, you can't make riskless unlimited money, but yes I do have a handful of EAs that are able to make me money, and one is running live right now.

[seemab]

Hi roar
How are you ?
Nice helping work seen from your side.
Can you please tell me how to get correlation in two pairs by fxdreema ?
And will appreciate alot if you advice how to use your strategy to make some money ?

[roar]

@seemab Hi
I've never done any correlation.. If wanted the correlation, I would probably just put some H1 close prices of EURUSD to array 1, H1 close prices of GBPUSD to array 2, aaaand then just calculate the statistical correlation coefficient, as per the standard formula:

It would be a big project, I'm not interested enough to try

I'm only willing to help in technical problems with fxdreema, don't wan't to get involved in anyone's personal finance here (that is my daytime job), I'm sure you understand!

[seemab]

Thank's roar :
I will work on it, thank's for formula again.
And any help about your strategy which is making money ?

[roar]

If you have just joined fxdreema, I'd suggest you start with something else, arrays are quite advanced thingys.
I'm not going to just share my strategy, that would cause more problems than answers, lol
My style is to utilize the natural volatility, sell highs, buy lows, forget about the trend, be flexible. And use mt5 for better testing tools. That is just my personal opinion, lots of different views in this forum.

[Arrow82]

@roar Thanks Roar for your advice, Yes agree, it takes a lot of effort to make money consistently. I am trying different strategies. Currently i am working on one, refer below details, it's based on reversal.
**Buy order trigger when 2 continuous bearish candle followed by 2 bullish candle, formations not important.
sell order trigger when 2 continuous bullish candle followed by 2 bearish candle, formations not important.
SL will be at the base of the formations or one of the lowest or highest bearish or bullish candle.
TP will be using trailing TP or manually can key in.

This is what i am currently working on it, results not bad. hope with your help can make it automated. please advice if you have concerns or wants to tweak or optimize it..attached picture for clear understanding.**

[roar]

@arrow82 Here you go. There is no TP system at the moment, you can add that yourself.
The candle ID's are very important in this project. ID 0 = current candle, ID 1 = last completed candle, ID 2 = 2nd completed candle, etc..

https://fxdreema.com/shared/R6tKGk0db

[Arrow82]

@roar thanks roar for helping me in this Forex journey, Appreciate your help.You are really genius in building EA and willing to help people like me, can't thank enough. God bless you. i don't want to miss people like you, wanted to be your friend, can i have your contact email? honestly no other intentions. please email to me if you are willing, my email: jp.yoganand@gmail.com , by this way your email will be not known to others.

Moving forward, regarding 4 candle strategy, is it possible to set TP twice the ratio of stop loss? means 1:2 risk reward ratio? Based on screen shot, it looks like you back-tested this strategy, any opinion about this strategy? please advice, thanks.