The FLOW Plus ALR EA

[Dewey McG]

Most traders lose all their money…you know the drill. If you try this EA without understanding it first you will probably lose all your money and all your relative’s money as well.

Milanese was kind enough to spend a lot of time on this. The trade manager portion is rather complicated so we are much in his debt in outing this all together.

The EA is based on this method which has been doing very well in manual the last 2 months: http://www.stevehopwoodforex.com/phpBB3 ... 10#p119242

The Trade Manager portion of the EA is based on ALR 2 about which you can find more information here: http://www.stevehopwoodforex.com/phpBB3 ... 792#p97774

New to the ALR concept? Please read here: http://www.stevehopwoodforex.com/phpBB3 ... 682#p94504

EDIT: here is the myfxbook widget:


We are in TESTING mode. I am using higher risk presets so we can get a better idea of how each pair performs. To do this I am allowing as many as 20 turns and a risk of up to 40% of account. (see the set files-one is for 40/120 and the other is 50/150) I would never do this on a live account. The most I would consider would be 15 turns and probably not even that. If you are brand new to ALR you will probably misunderstand what I just said. That is not 40% per trade. The more turns you allow the less likely you are to ever have a loss, but the bigger the loss will be when you do hit one. What we want to discover is if there is a sweet spot where we can allow X number of turns so that losses are still extremely rare but still small enough that we can absorb the loss easily because of all the profits we are making in the meantime. If this still is confusing, go to the links above and start reading.

Edit: May 18 new version below with a bug fix and also will work with brokers that have min. lot sizes
Edit: June 10 new version 109 below with some fixes in the ALR calculation part, should work more stable..
Edit: Aug. 13 new version 110 fixes some glitches and has more code to handle gap events ecc...

[milanese]

subscribed

[Yuggr]

Now I'm not sure if this is a newbe mistake but my understanding of the Flow with ALR is that we buy above and sell below the monthly open. Gave this a go using indicators and TheFlowPlus107 EA.
This seemed to give conflicting directions Manual mode seems to suggest a sell but TheFlowPlus107 EA is indicting buy orders.

[Dewey McG]

Thanks for looking. I checked my chart and the EA is right based on where I show the monthly open. See the PIC.

That doesn't mean you are wrong. Depending on the time of day your broker opened the new daily candle it could have been much higher

[Yuggr]

Thanks for the quick reply. I'll continue to demo this.

Just for info I'm trying this on a GlobalPrime Demo.

[milanese]

Now I'm not sure if this is a newbe mistake but my understanding of the Flow with ALR is that we buy above and sell below the monthly open. Gave this a go using indicators and TheFlowPlus107 EA.
This seemed to give conflicting directions Manual mode seems to suggest a sell but TheFlowPlus107 EA is indicting buy orders.

The EA uses the open of the actual monthly candle your indicator for manual trading the close of the last closed candle that is why you have in the EURAUD this divergences...

Cheers

Tommaso

[Yuggr]

Thanks for the input Tommaso I based my observations on the MTF_MovingAverage indicator supplied in post 1 of the original The Flow plus ALR post. Will re-read all relevant posts to see where the changes from the original method where made.

Great work by all by the way.

My bad had the ma_period set to high

[Dewey McG]

I added the myfxbook widget in post 1 as well:

[xfactornos]

Hope you don't mind me posting my test as well here:
Using your settings, broker Tallinex.

[Dewey McG]

Hope you don't mind me posting my test as well here:
Using your settings, broker Tallinex.

Go for it.

I a little confused though you show a closed order for the EURUSD for 12.6 pips. What are your settings? First candle has not closed yet and you have a small tp