Monday Zone Break Out EA

[nonlinear]

nonlinear asked me for a special version that can be used for simultan forward testing in crappy backtester, this version uses only open bars, it sets all for the zonebuild needed stuff automatic to the right EndOfZoneDetermingHour you have set, you can use it on a M1,M5 or M15 tf best would be M1 tf...
You can use it with only open data if you want fast ideas..

Cheers

Tommaso

Caution: This is just for testing. Past results will NOT match tick data results exactly. And past results will NOT match forward results. That said, it should help give ideas. Cheers to Tomasso!

[milanese]

Hi all,

I fixed some bugs in the latest version and did some better adapting of the SR and MA trendcheck in the new version. You should only use this version or the original one...This EA will not work with pre 6xx builds...
New we have:
extern bool UseCloseFriday=true;extern int FridayCloseHour=18; this will close at the choosen hour any open winning TP1 or TP2 position (partclose if the lot is >0.1). The Ea uses here the brokertime.
If the positions after five H1 candles are in loss, the EA will close all trades.
extern double SetBEminPipTP3=120;
extern double SetBEminPipTP2=60;
extern double SetBEminPipTP1=30;
Are used for the moving sl, here you set the min distance from actual price to the new sl.
As you can see there is new too a moving sl management for the TP1 position.
MaxDiffPrice is used for avoiding the EA to enter trades with big difference to the breakout prices, this value is to set in pips..
extern double AdvertisedSpread=0.8; set this to the average spread your broker has for the pair..
extern int EndOfZoneDetermingHour=8; must be adjusted for your brokertime, this value is for GMT+2/3 brokers like GlobalPrime, note that backtest values normally differ, if you want do backtesting..
extern double TailleZoneMini = 33;
extern double TailleZoneMaxi = 200; are set for EJ other pairs should differ...

MondayBreakoutSR_B_6xx.mq4

Cheers

Tommaso

[mirador]

Congratulations Tommaso, you did a great job with this EA,

I like the behavior of the 3 SL.There are less big losses or long lost sequence. DD is reduced and could be less then 10% for many pairs. Profitability is also less then other versions but its the price to pay to reduce risk. We now have to find some ideas to grab more profit.

I've noticed that "TailleZonePercentToMoveSL" has almost no impact. Is it still a setting needed, or could you explain its utility.

Thanks

[milanese]

Congratulations Tommaso, you did a great job with this EA,

I like the behavior of the 3 SL.There are less big losses or long lost sequence. DD is reduced and could be less then 10% for many pairs. Profitability is also less then other versions but its the price to pay to reduce risk. We now have to find some ideas to grab more profit.

I've noticed that "TailleZonePercentToMoveSL" has almost no impact. Is it still a setting needed, or could you explain its utility.

Thanks

it is not anymore used in the latest versions.., I will remove it in further version from the code, I simply forgot this..

Cheers

Tommaso

[mirador]

I am starting to understand more the SR_Indicator. I think we should use all its strenght.

What do you think if we try placing SL1 always X pips below the first verified Support for a Buy or over the first verified Resistance for a Sale. And if we place SL2 always X pips below the second verified Support for a Buy or over the second verified Resistance for a Sale. And so on with SL3. X pips is the distance from the box border to be choosen.

This way, when market is in the right direction the 3 SL will jump to the next box in front of them each time a new Support or Resistance box is formed. If SL1 is hit, SL2 doesn't move and stay behind the box until he's hit too. If market goes back in right direction and a new Support or Resistance box is formed, SL2 and SL3 advance one box. On friday, if a box is free (No SL1) in front of SL2, then SL2 jump to that box.

May not be easy to realize but it could give interesting results !

Cheers

[milanese]

I am starting to understand more the SR_Indicator. I think we should use all its strenght.

What do you think if we try placing SL1 always X pips below the first verified Support for a Buy or over the first verified Resistance for a Sale. And if we place SL2 always X pips below the second verified Support for a Buy or over the second verified Resistance for a Sale. And so on with SL3. X pips is the distance from the box border to be choosen.

This way, when market is in the right direction the 3 SL will jump to the next box in front of them each time a new Support or Resistance box is formed. If SL1 is hit, SL2 doesn't move and stay behind the box until he's hit too. If market goes back in right direction and a new Support or Resistance box is formed, SL2 and SL3 advance one box. On friday, if a box is free (No SL1) in front of SL2, then SL2 jump to that box.

May not be easy to realize but it could give interesting results !

Cheers

Is not that difficult to realize.., as I had coded sometime ago for zypip a secial Marylin that at exp. closes half of the position if next S/R zone is touched..
Let us first test somewhat this version out to see how it trades in real market conditions and where we see potential to do it better ..

Cheers

Tommaso

[mirador]

I am starting to understand more the SR_Indicator. I think we should use all its strenght.

What do you think if we try placing SL1 always X pips below the first verified Support for a Buy or over the first verified Resistance for a Sale. And if we place SL2 always X pips below the second verified Support for a Buy or over the second verified Resistance for a Sale. And so on with SL3. X pips is the distance from the box border to be choosen.

This way, when market is in the right direction the 3 SL will jump to the next box in front of them each time a new Support or Resistance box is formed. If SL1 is hit, SL2 doesn't move and stay behind the box until he's hit too. If market goes back in right direction and a new Support or Resistance box is formed, SL2 and SL3 advance one box. On friday, if a box is free (No SL1) in front of SL2, then SL2 jump to that box.

May not be easy to realize but it could give interesting results !

Cheers

Is not that difficult to realize.., as I had coded sometime ago for zypip a secial Marylin that at exp. closes half of the position if next S/R zone is touched..
Let us first test somewhat this version out to see how it trades in real market conditions and where we see potential to do it better ..

Cheers

Tommaso

No problem, I'll work on this excellent version.

[milanese]

Hi all,

please note this weekend will be the need to adjust the MondayBreakout from GMT + 2 to GMT +3 in order to accommodate daylight savings in NY, if your broker like GP uses GMT (+2/+3).
Next week the session will open at 21:00 GMT +0.

Cheers

Tommaso

[mirador]

Hi all,

please note this weekend will be the need to adjust the MondayBreakout from GMT + 2 to GMT +3 in order to accommodate daylight savings in NY, if your broker like GP uses GMT (+2/+3).
Next week the session will open at 21:00 GMT +0.

Cheers

Tommaso

Hi,

I need to clarify some things. If the session opens Sunday 21:00 GMT and the London session opens at Monday 8:00 GMT, does it mean the EA will take an 11 hours candle to form the zone.

And then, how much time should be allowed to break the upper or the lower part of the candle after London session opens?

Thanks

[milanese]

Hi,

I need to clarify some things. If the session opens Sunday 21:00 GMT and the London session opens at Monday 8:00 GMT, does it mean the EA will take an 11 hours candle to form the zone.

And then, how much time should be allowed to break the upper or the lower part of the candle after London session opens?

Thanks

The EA should be set, if it was set to finish at 8 am at exp, now to finish at 9 am.. if your broker uses gmt(+2/+3) like GP
Cheers

Tommaso