Monday Zone Break Out EA

[Aussiedoc]

Looking good,Aussiedoc Is this OOTB settings?

Hi!
Yes! OOTB!
Cheers
Christine

[dudest]

Hi peeps!

Sorry for the dumb question but: we can put the EA on any TF, right?

Cheers

[milanese]

Hi peeps!

Sorry for the dumb question but: we can put the EA on any TF, right?

Cheers

Yes , we can

Cheers

Tommaso

[dudest]

Hi peeps!

Sorry for the dumb question but: we can put the EA on any TF, right?

Cheers

Yes , we can

Cheers

Tommaso

Thanks Tommaso!

[mirador]

Thanks Tomasso for your open mindedness,

If you don't stop me I will keep on bringing some ideas... Hope that they will be challenged though.

I think we also need to work on the TP. As you see on the graphic, the green triangles above the blue line represent TP that have not been hit. Many of these lost pips could have been gain if we had a "Trailing Stop Trigger". The TST is like a moving SL following the Price according to Volatility and Trend. If volatility is high the SL stay far from the price to avoid being hit by a false swing. If volatility is low SL come closer. When trend retrace SL come even closer.

The third trade of Monday Zone BO has a "jumping" strategy to grab more pips. Is it based on a similar strategy to exit?

[milanese]

Thanks Tomasso for your open mindedness,

If you don't stop me I will keep on bringing some ideas... Hope that they will be challenged though.

I think we also need to work on the TP. As you see on the graphic, the green triangles above the blue line represent TP that have not been hit. Many of these lost pips could have been gain if we had a "Trailing Stop Trigger". The TST is like a moving SL following the Price according to Volatility and Trend. If volatility is high the SL stay far from the price to avoid being hit by a false swing. If volatility is low SL come closer. When trend retrace SL come even closer.

The third trade of Monday Zone BO has a "jumping" strategy to grab more pips. Is it based on a similar strategy to exit?

The main problem with Empty4 is that it's backendtester is 100% crap, please look for the whole story of this EA in the development topic http://www.stevehopwoodforex.com/phpBB3 ... =12&t=3224 ,
so you will find out why this EA is coded how it is coded..

Cheers

Tommaso

[mirador]

The main problem with Empty4 is that it's backendtester is 100% crap, please look for the whole story of this EA in the development topic http://www.stevehopwoodforex.com/phpBB3 ... =12&t=3224 ,
so you will find out why this EA is coded how it is coded..

Cheers

Tommaso

Yes I read all the thread already. I think I understand how TP and SL are coded. It's basic except for third trade wich has a jumping behavior with a trailing virtual SL that is not explain in the thread.

When analysing a new EA, I always do backtest with Empty4 and run demo with live data. Backendtest with Empty4 are bad for scalping EA that need fast execution data. Even if not perfect, Empty4 backtest with EA like MondayZone BO gives a good idea ...specially if you count on a reliable tickdata system. Tick Data Suite have giving me the best results.

With MondayZone BO, both backtest and live demo on 11 pairs (only 3 weeks though) show the same. Pips are lost if price comes close to TP but retrace, specially If the zone is large and TP is big. I believe that a following SL in a positive zone would definitly grab many pips. You can see what I mean in this extreme example attached of GBPJPY this week. The price was about 2 pips to hit TP when retrace. At least TP1 and TP2 could have close short after retracement leaving TP3 a chance to gain more.

[milanese]

The main problem with Empty4 is that it's backendtester is 100% crap, please look for the whole story of this EA in the development topic http://www.stevehopwoodforex.com/phpBB3 ... =12&t=3224 ,
so you will find out why this EA is coded how it is coded..

Cheers

Tommaso

Yes I read all the thread already. I think I understand how TP and SL are coded. It's basic except for third trade wich has a jumping behavior with a trailing virtual SL that is not explain in the thread.

When analysing a new EA, I always do backtest with Empty4 and run demo with live data. Backendtest with Empty4 are bad for scalping EA that need fast execution data. Even if not perfect, Empty4 backtest with EA like MondayZone BO gives a good idea ...specially if you count on a reliable tickdata system. Tick Data Suite have giving me the best results.

With MondayZone BO, both backtest and live demo on 11 pairs (only 3 weeks though) show the same. Pips are lost if price comes close to TP but retrace, specially If the zone is large and TP is big. I believe that a following SL in a positive zone would definitly grab many pips. You can see what I mean in this extreme example attached of GBPJPY this week. The price was about 2 pips to hit TP when retrace. At least TP1 and TP2 could have close short after retracement leaving TP3 a chance to gain more.

Thank you for your post, I will make at weekend some changes in the handling of the TP3 moving SL, so we will have a second variant for testing

Cheers

Tommaso

[milanese]

:hi:

Here is an alternative version with a new SL moving management for the TP3 trades.

in setting you will find new:
SetBEminPipTP3 sets the min distance price SL
The moving sl will start after the TP1 is reached.

MondayBreakoutEA_ModTP3.mq4

Please set the right AdvertisedSpread values working with your broker
Cheers

Tommaso

[mirador]

:hi:

Here is an alternative version with a new SL moving management for the TP3 trades.

in setting you will find new:
SetBEminPipTP3 sets the min distance price SL
The moving sl will start after the TP1 is reached.

MondayBreakoutEA_ModTP3.mq4

Cheers

Tommaso

Thanks Tommaso,

If it works well could we try this trailing SL feature at the start, before any TP is reached ?

But for now, I have a problem with Empty4 backtest. All data are processed but no trade. It's working with the older version but not the new one. Anyone else has the problem ?