Guppy breakout EA

[SteveHopwood]

SERIOUS WARNING

• 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. Remember to set IsGlobalPrimeOrECNCriminal to 'true' if your crim insists on two-stage order sending.
  • Breakout strategies.

I am not yet trading this EA on my live account

Yesterday I received the pm from Anil that I quote here. Please remember that English is not Anil's first language.

Hello Good Morning Mr. Steve,

this is Anil Kumar Vadlapati , member of your form and great fan of u, as u made many Forex novice easy to trade and manage with different EA's , my favorite EA is MPTM.

coming to subject , i would like to request an automated EA for the manual system which I'm running it successful on GJ pair from last 2 months .

this is not my own strategy i had read it from internet and working on , i thought i would share this strategy here in forum as i took lot from the forum and also experts traders can fine tune it more

after completing second 4hr candle (gmt+0) we will note down CandleHigh , CandleLow , then we will place two limit orders one for buy one for sell

here there is one condition CandleHigh-CandleLow >= 200 pips then no trade for that day.

Buy Limit Order : -

BuyPrice = CandleHigh+10 pips
StopLoss = CandleLow-10 pips
TakeProfit = BuyPrice + (CandleHigh-CandleLow)

Sell Limit Order:-

SellPrcie = CandleLow-10 pips
StopLoss = CandleHigh+10 pips
TakeProfit = SellPrice - (CandleHigh-CandleLow)

if either order executed , we will cancel other order that's it

i have attached the chart for reference i circled with white color , the break out

any things else info plz let me know

thank you very Much


Regards
Anil Kumar

I am not a huge fan of breakout strategies, but for the time being xxxJPY is only going one way, so why not see if we can squeeze a few pips out of this?

To summarise: this is a GJ H4 breakout from the open of London strategy, based on the previous H4 candle.

Trading times
Anil's strategy kicks in at London open time and is based on the hilo of the previous H4 candle. The default trading time allows 5 minutes for the new candle to form, then a further 5 minutes during which the ea will place a pending buy line at BufferPips above the previous candle high, and pending sell at BufferPips below the low.

As usual, trading times are expressed in the time on your clock at home when London opens. Work this out for yourself and do not post questions about it here. I shall delete them as I do not allow my threads to become cluttered by posts by people unable to tell the time.

Pending trade lines
Instead of sending actual pending trades, the EA places dashed green and red lines on the chart, and then trades when the market crosses the lines. You can choose your own colours for these. Also, the bot will react should you decide to manually move the lines, and change the order fill prices.

Other stuff
All the usual thingies are here. Use them or not as suits your trading style.

I asked Anil how long he leaves a pending trade in place when it has not filled. His reply was that this has not happened yet, so this is something we may need to sort out.

There are a few bits and bats that could do with cleaning up if this doggy turns out to have a woof. We shall see. At least testing it out does not use much in the way of computer resource.




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

• MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
• 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

[atharmian]

This looks like the FF 4H Box Breakout, which supposedly went out of fashion in 2011-12, but recently has attracted new interest. So our man Steve has his own version now

http://www.forexfactory.com/showthread.php?t=168161

[ninety47]

Nicely timed. I've been looking at that exact thread on FF just recently. I've been undertaking a study of breakout trading sytesm after trading inside bars on the D1 with some success. I have an EA and an indicator will push them to my GitHub repository over the weekend (or over the next week or so - when I get some time to clean them up, pretty busy at moment).

GitHub repo is here: http://github.com/ninety47

The hypothesis I'm working towards testing is a "basket breakout strategy" (similar to Jemook's strategy but on break outs and mine will be on 3x 24" monitors instead of 1x27" ). The correlation amongst all the majors (and minors etc etc) is pretty much that you should be able to trade the breakout across multiple pairs with a specific pip target to be achieved from the basket. The plan is to kick it off at some point based on a bias or setup e.g. the start of the week as in Ace284's 4h Breakout thread as Anil has found.

Exit from the strategy is automated or discretionary - the later my preferred option because the majority of my trading is support and resistance based and automagic targets tend to sit above or below trouble areas (previous support/resistance) leading to easily missed pips (not so bad) or worse full retrace and pooping your R right out the window.

Thank Anil and St33v (time to 1337 you up - you've written enough code )

[Pooler]

Hi,

Just need some clarity. Do you place Buy/Sell Limit orders either side of prev candle or Buy/Sell Stop orders.

I.E If price hits pending above prev candle are you buying or selling?

Cheers

[ninety47]

Hi,

Just need some clarity. Do you place Buy/Sell Limit orders either side of prev candle or Buy/Sell Stop orders.

I.E If price hits pending above prev candle are you buying or selling?

Cheers

My interpretation of the thread on FF is to place buy and sell stops above and below the box, with covering stop placed for each at the other side of the box. You let the two traders play out for the week. Stop management is up to you but the thread suggests a move to BE once you've clear +1R.

Most of the info you need is in the first 100 posts the rest is people asking the same questions over and over again (like most FF threads!).

Thread is hear

[SteveHopwood]

Hi,

Just need some clarity. Do you place Buy/Sell Limit orders either side of prev candle or Buy/Sell Stop orders.

I.E If price hits pending above prev candle are you buying or selling?

Cheers

Buying.

[forextrader-radioman]

Thank you @ Steve and Anil ...

, Dietmar

[Sojourner]

A backtest....for what it's worth.

[Amit]

Hi Guys,

I have just used this EA on demo. It opened a trade with a 50pip SL and a tp of 25 pips , and no , I did not change any settings except making the tradable time to +08:05, -1205.

So just wondering what is wrong

[Wiggy1965]

Hi Guys,

I have just used this EA on demo. It opened a trade with a 50pip SL and a tp of 25 pips , and no , I did not change any settings except making the tradable time to +08:05, -1205.

So just wondering what is wrong

Amit,

I think the trading time is only meant to cover a ten minute period after London Open, so if London Opens for you at 08:00, then your Trading Hours of "+08:05" is correct....However you end trading should be 5 Minutes later at "-08:10"

Anyway, that is my understanding....I hope i have it right....

Regards
Wiggy