- Most Forex traders lose all their money.
- Using the robot posted here in trading Forex does not guarantee success.
- Trading this robot could lead to serious financial loss.
- Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
- This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
- At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
- To trade this robot, you have to understand:
- How to use EA's.
The Moving Average Dashboard-EA trades strong currencies against weak currencies. How it works out when a currency is strong or weak is explained in the attached MadUserGuide.pdf. Before installing the EA, do read the user guide. It is highly recommended to use the MAD-EA initially as a dashboard and enter and exit trades manually (You can configure the EA to not trade). Or you can allow the EA to enter trades, but close them manually. The EA is a tool, that requires a competent driver. Steve's fifth commandment (under SERIOUS WARNING) is particularly applicable to this EA.
It is hoped that this thread will spin-off a lively discussion on how to use this tool, what settings work and don't work and how to improve the entry/exit rules. I will leave it to George to lead that discussion, as he has been trading and improving the strategy for the last 5 years.
Update 2016-03-10: Removed the zero-divide bug, if someone selects 'current' as one of the timeframes.
Update 2016-03-11:
Two little problems were fixed:
(1) Someone reported to have a br0ker that has symbols with no extension, and symbols with the 'c' extension, and he wishes to use the symbols with the 'c' extension. Go figure! In addition, this br0ker was listing both NZDAUDc and AUDNZDc and GBPEURc and EURGBPc and several others. Why, I don't have a clue. This was throwing a spanner in the wheels of both MADDY and MAD-EA, but that has now been fixed. If you are one of the unlucky persons, who can not use Global Prime as your br0ker and have to use a dubious br0ker that has dubious symbols, you now have a way to use MAD-EA by properly configuring the ExcludeExtensions and/or IncludeExtensions parameters. You are already disadvantaged enough by not having Global Prime, so I thought to not add to your misery and make the changes in MAD-EA so that you can still run it.
(2) There was a bug if you both had the M1 and M15 timeframes selected, and clicked on an arrow under the M15 column, it would open the chart on M1, not M15. This bug has now also been fixed.
Update: 2016-04-25:
As mentioned in earlier posts, I have decoupled the dashboard (MADDY), from MAD-EA, and renamed the EA to MADTrader. You need MADDY to send signals (strength/weakness and exhaustion signals), to MADTrader and MADTrader will act on these signals by opening and closing trades. MADTrader has become a very simple EA and I have included the code for those who want to have a look under the hood and would be inclined to add their own logic to it. If you only want to run MADTrader, you only need to download the .ex4 file, and not the .mq4 and mqh files. I have had my reservations regarding sharing the source code, as often I've observed that the 'improvements' made to the code were dirty hacks full of bugs, that I had to correct. However, in this special case, I believe that the SHF trading community can benefit from another set of eyes going over the code and adding their own twists. If such 'improvements' are really improvements, it is expected that the changed code is also shared on the forum.
How to use MADDY/MADTrader:
1. Add the MADDY (latest version) indicator to one chart. MADDY is the work horse and requires the most CPU, especially if you have set the LookBackMinutes to a large number. MADDY can only be added to one chart, as it sends custom events to the other charts and with more than one MADDY running this will become a nightmare.
2. Add the MADTrader EA to a chart. Any chart. Can be the same chart as where MADDY is attached to. MADTrader is listening for MADDY custom events. If MADDY is not running anywhere, no custom events will be received and nothing will happen. You can have more than one MADTrader, each on a separate chart, and each with a different magic number. This can be useful if you wish to test different entry and/or exit rules.
Have fun and please report good and bad results.
