SERIOUS WARNING
Most Forex traders lose all their money. ***DO NOT USE THIS EA ON LIVE ACCOUNTS AS IT IS EXPERIMENTAL***
-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.
-Market trend and retracement patterns.[/mod]
dudest asked here http://www.stevehopwoodforex.com/phpBB3 ... 856#p47856
for an EA based on support/resistance.
Here comes the updated beta of this EA, please test it only on demo as there will be for sure some bugs,dudest wrote:Hello fellow forum members!
Time for a new EA based on slipshod's SS_SupportResistance_v04b indi: http://www.stevehopwoodforex.com/phpBB3 ... d&start=30
Would be grateful if you coding gurus can turn this idea into working code
The Concept
1. Buy from support
-> Where support (according to the indi) is
a) Verified support where test count is >= 2
b) Turncoat support
2. Sell from resistance
-> Where resistance (according to the indi) is
a) Verified resistance where test count is >= 2
b) Turncoat resistance
The Rules
SELL: when price gets to the lower border of the resistance zone.
SL: at the upper border of the resistance zone
TP: at the upper border of the support zone below
BUY: when price gets to the upper border of the support zone.
SL: at the lower border of the support zone
TP: at the lower border of the resistance zone above
Trade management:
-> Via MPTM: trail by 2 candlesticks
-> Trade exit: either by SL or by TP or by candlestick trail
Money management:
-> Option on EA to manually set lotsize or automatic lot calculation
-> NB: only 1 trade per opportunity
Additional Notes
-> MPTM candlestick trail settings:
TSL=Trailing stop loss settings
TrailingStop=1
UseStandardTrail=0
TrailingStopPips=10
UseCandlestickTrail=1
CandlestickTrailTimeFrame=30
CandleShift=2
-> The candlestick trail is not set in stone, 'tis one of the params to be fine-tuned during testing
Chart example
Indi modified settings: (everything else OOTB)
-> Timeframe: 60
-> zone.show.weak: false
-> zone.fuzzfactor: 0.5
Operating timeframe: M30
Cheers!
the EA uses a special moving Sl feature
BeVarPercent=55 is used for this, means if the EA is 50% of the distance from openprice to initial SL in win it will set the BE, after the BE all jumping steps are made too with this system, only that the adr is new calculated using the last 5 candels high/low.Too the SR indicator is used for partcloses if we touch the next unverified SR zone the EA will in win close 50% part of the the trade.
BufferPips=35; is used to set a minimal distance for the tp, this is for cases in that the calculated tp would be to near, as wished the tp is calculated with SR indi.TMA-slope is used for close the trade after 5 candles if we are definetly going wrong with the trade, and if the the first two H4 candles should be losing ones the EA will too close the trade.
All indicators used are embedded, with
PERIOD_SR=PERIOD_M30 you select the timeframe you want for the SR calculation, feel free to test the EA to with higher tf as M30With
MinHitsForUsingZone=2; you set the min hits for a zone to be used.Please use the load history script, located in the Knowledge Base, before using this EA.
Edit :new version 25/03/2014 Edit modfied strategy see here http://www.stevehopwoodforex.com/phpBB3 ... 948#p93948
june 02,2014 Cheers
Tommaso
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