EA based on support/resistance

EA based on support/resistance

Postby milanese » Mon Mar 17, 2014 2:17 pm

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.

dudest asked here dudest @ EA based on support/resistance
for an EA based on support/resistance.
dudest wrote:Hello fellow forum members!

Time for a new EA based on slipshod's SS_SupportResistance_v04b indi: Support/Resistance Indicator

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!

Here comes the updated beta of this EA, please test it only on demo as there will be for sure some bugs,
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 M30
With 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
TheSRZoneEADudestE_6xx.mq4

Edit modfied strategy see here milanese @ EA based on support/resistance
june 02,2014
TheSRZoneEA_F_6xx.mq4

Cheers :)

Tommaso
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EA based on support/resistance

Postby bazze » Mon Mar 17, 2014 6:39 pm

:good:
bazze
 

EA based on support/resistance

Postby SpiderX » Tue Mar 18, 2014 12:18 am

Nice. Is this backtestable ?

Cheers
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EA based on support/resistance

Postby milanese » Tue Mar 18, 2014 12:36 am

SpiderX » Tue Mar 18, 2014 12:18 am wrote:Nice. Is this backtestable ?

Cheers

in theory yes, but needs some time.., and how much value backtests will give is sure a diffrent discussion..


Cheers :)

Tommaso
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EA based on support/resistance

Postby zentauro67 » Tue Mar 18, 2014 12:37 am

Very nice. Proven supports are rarest than verified ones, but give safer signals. The most clear signal I have noticed using slipshod´s indi is when price approaches a proven support and tick volume increases. The odds of reversal are then very high. (Not sure if tick volume can be added as I have not seen it before in any EA, and can bring some confusion regarding different brokers). I´ll follow with great interest this EA. :hi:
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EA based on support/resistance

Postby milanese » Tue Mar 18, 2014 12:58 am

zentauro67 » Tue Mar 18, 2014 12:37 am wrote:Very nice. Proven supports are rarest than verified ones, but give safer signals. The most clear signal I have noticed using slipshod´s indi is when price approaches a proven support and tick volume increases. The odds of reversal are then very high. (Not sure if tick volume can be added as I have not seen it before in any EA, and can bring some confusion regarding different brokers). I´ll follow with great interest this EA. :hi:

at the moment the EA uses verified zones (count >=2), maybe it would be interesting to set this higher.. , if there is request I can make it a user configurable setting..

Cheers :)

Tommaso
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[bugfix!!]EA based on support/resistance

Postby milanese » Tue Mar 18, 2014 2:05 pm

Hi,

there was an ugly bug in the first versions (to fast coded as known by me :smile: ), that caused , that the EA does not worked as intented..
So please download all the new version in the first post :)
We have too a new setting MinSRHitForUsingZone=4 this is used to set the min hits a zone must behave, to be used I set this OOTB to 4 so only proven zones will be used.

Cheers and let me know if you find again bugs and some results would be too great, for seeing if this EA has legs... :)

Tommaso
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EA based on support/resistance

Postby bazze » Tue Mar 18, 2014 5:10 pm

I'm saticfied,so far :good: (OOTB)
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EA based on support/resistance

Postby milanese » Tue Mar 18, 2014 5:12 pm

bazze » Tue Mar 18, 2014 5:10 pm wrote:I'm saticfied,so far :good:

Thanks for your results, looking good :)
Maybe with the bugfixed version you will get again better results :)

Cheers :)

Tommaso
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EA based on support/resistance

Postby bazze » Tue Mar 18, 2014 5:15 pm

If so,your a magican :clap: :smile:
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