- 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.
- Bob's HGI.
- Pivots
You need to download two libraries because the bot will not run without them:
- hgi_lib.ex4 from Bob's post 1 at http://www.stevehopwoodforex.com/phpBB3 ... =88&t=3964. You can put it in either your Experts or Libraries folder.
- HGBnD core library.mqh from http://www.stevehopwoodforex.com/phpBB3 ... =87&t=5077. This must go in your Include folder.
- combines trend trading as defined by the relationship of three pivots and HGI:
- Monthly pivot > Weekly pivot > Daily pivot: we are in a down trend so sell when HGI agrees.
- Monthly pivot < Weekly pivot < Daily pivot: we are in an up trend so buy when HGI agrees.
- we do not range trade i.e. when the pivots are mixed or HGI is showing an opposite signal.
- send buy stops at the DP and support/resistance levels that are above the market and are below S3 - so a total 6 pending orders.
- send buy limits at those levels below the market.
- each pending trade has an expiry time set by the PostTradeAttemptWaitSeconds inputs (last input in "General inputs"). This input is in minutes so the default is 16 hours. You will need to adjust this if playing with lower time frames.
- you have a choice of the usual TakeProfitPips and StopLossPips for your TP/SL. These are automated if left set to zero:
- TP is S3 for all buys and R3 for all sells.
- SL is PivotStopLossPips ("General inputs", straight after StopLossPips) below S3 for a buy and above R3 for a sell.
- Automatic position closure:
- TradeClosureHour: this is the hour at which to start looking to close positions for the day. Use broker time. Set to 24+ or 0- to stop this feature.
- MinCashProfitToAllowClosure: this tells the bot only to close the position if it is in profit and for you to specify the minimum acceptable profit. < 0 turns this off
- Next day trades (or next candle if you are playing with other time frames)
- AllowNewTradingWhenPreviousStillOpen: thhere may still be trades open from a previous candle fresh trades may not be helpful. This input allows us to disable adding fresh trades at the open of a new candle.
It makes a huge difference to our CPU usage if we only have charts open that are tradable - this is where the "HGBnDnPivot dashboard EA" comes in. You will be familiar with how it works if you have been using my DFC version - this one here is what inspired me to create the DFC version. The dashboard EA will:
- scan the charts for those where the market is trending.
- display a list of potential pairs to trade.
- open charts and add your chosen template to each new chart when the market is in a trading or close proximity zone.
- delete the chart if there are no open trades and the market has moved into a range.
- the inputs are:
- AutomateChartOpeningAndClosing: tells the ea to open and close charts automatically. Turn this to 'false' if you want complete control of your charts.
- ReservedPair: this is the chart that will host the EA. It will leave this chart alone. It should be a pair that you would not usually trade.
- TemplateName: the name of the template to apply to each chart.
- NewChartTimeFrame: the time frame for each chart that the EA opens. Pick the one that you find the easiest to view - it has no impact on the trading EA.
- MagicNumber: this tells the EA whether it should recognise open trades. Manually-sent trades have a magic number of 0.
- 3 time frames that must match those of your trading EA.
- BrokerHasSundayCandle is for those of us whose broker has one of these. If 'true' then the bot will ignore the D1 Sunday candle and work instead with the Friday candle.
- EventTimerIntervalSeconds: this EA does not work with quotes from the broker. It works on a timer and this input controls how often the timer fires. This is in seconds, so the default is every 10 minutes.
- To use the Dashboard EA:
- Set up a trading chart chart as you wish it to look and with HGBnDnP loaded up with the inputs of your choice. Save the template.
- Load your 'reserved chart';
- Drag the dashboard EA onto the chart, inserting your template name into the TemplateName input.
Have fun girls and girlesses.
Matters of general interest
Go here to download and run the script that will fill your platform's missing chart history: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=254
Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p?f=6&t=78 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179
EA coding
I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79, at the bottom of the post.
Useful utilities/EA's/scripts
- Multi purpose trade manager: http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64
- Account equity analyser: http://www.forexfactory.com/showthread. ... ost4709098, which includes a template for both USD and the Euro.
- Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthread. ... ost3830610
- My shell EA – the code I use to produce EA's so quickly. http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79
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