TMA_CG: EA to buy at support & sell at resistance

[dudest]

¬
¬
Disclaimer: all Steve's warnings pertaining to EAs apply.

Intro:

Hi folks,

This is in realization to a request I made last year in March in the Ideas for Possible Automation thread.

I manually trade a naked-chart Price Action method whose heart is key horizontal zones ( support and resistance ) with a price action signal to confirm entry.

The method has served me well ( in many ways ). One of the pleasant side-effects is that you notice - with reasonable accuracy - areas/zones where a trade can be placed directly without a price action signal ( i.e, touch trading ). Hence my request for an EA which could automate this and maximize on the returns.

In the time since the request, I taught myself to code MQL4, and have gone through NUMEROUS iterations and ideas and ... I feel it's finally time to bring it out.

Initially, I used Slipshod's excellent indi/library to identify the horizontal support/resistance zones. However I noticed with time that a diagonal component of support/resistance was needed. So I finally settled on the TMA+CG indi.


The Method:

# Buy when price hits the lower boundary ( dynamic support ) [ i.e, buy low ]
# Sell when price hits the upper boundary ( dynamic resistance) [ i.e, sell high ]
# Fixed SL [ default: 30 pips ]
# TP = opposite boundary, less a buffer amount of pips [ default: 20 pips ] --> sounds alot but Gold is a beast

# Initially, tried a WIDE variety of trailing methods ( JumpingStop has always worked best for me ), but finally decided only on moving the stop to BreakEven [ default: 32 pips, 2 pips BEP ] and letting the trade run to the opposite boundary.

NOTE: I know this sounds crazy, but after an intensive 10months of trail-and-error [ get it!? ], I realized an element of faith is required ( yes, that's what I said, faith! ). Hence simply protecting the capital at BreakEven and letting trade run.

NOTE also that unless one has a working WALK FORWARD ANALYSIS app, a setting for JumpingStop will only work so well for so long... Decided simpler is better.


The Components:

1) EA: pair = Gold ( for high pip range + volatility reasons ). Timeframe = M15
2) TMA+CG (aka TMA_CG) indi
3) LibCSS.mqh library file

# The EA supplies the logic

# TMA+CG (aka TMA_CG) supplies the dynamic support and resistance bands

# LibCSS provides Slope values to avoid taking counter trades when price is VERY quickly moving in one direction without the usual undulations [ which is exactly what this EA wants: undulations / waves, whether the pair is ranging or trending ]


Chart Examples:

<Attached in Post #2>


Credits & Thanks:

1) Steve Hopwood: for this forum and for the excellent MPTM
2) w633: for his excellent Scite MQL4 IDE
3) Andrew Sumner, aka Slipshod: for the excellent SSSR indi and library
4) Paul, aka Baluda: for the excellent LibCSS library
5) The creator of the TMA+CG indi, and bourgenot for posting it up
6) vm999: for his inspired genius in creating EAs, that inspired me to create one of my own
7) Johnathon Fox and Bryce: for mentoring me in Price Action trading.
8) To all SHF members: you are a great community to belong to!, cheers

------------

1a) TMACG_Gold_M15_STACKING: goes to experts folder

TMACG_Gold_M15_STACKING_G.mq4

1b) TMACG Currency MultiTrader (credit: Andy West)
--> Latest versions available here: http://www.fxtradingforum.co.uk/viewtop ... f=29&t=219
--> mt4gui.dll and mt4gui.mqh are required, available here: http://www.mt4gui.com/download/

TMA_CG_MultiTrader v1.01.mq4

2) TMA_CG: goes to experts/indicators folder

TMA_CG.mq4

3) LibCSS: goes to experts/include folder

LibCSS.mqh

------------

Wish you happy & profitable trading!

Cheers

[dudest]

Have been debugging the release code this week with two versions:

a) a 'normal' version

b) a 'stacking' version

In this context, I use 'stacking' to mean adding one (1) position after the first is moved to BreakEven. No other positions are opened after that.

--------------

Normal version: http://www.myfxbook.com/members/dudest/ ... m15/795505

5 DAYS ( Mon 6th to Fri 10th - Jan 2014 )

28___TMACG_Gold_M15.png

--------------

Stacking version: http://www.myfxbook.com/members/dudest/ ... ing/795506

5 DAYS ( Mon 6th to Fri 10th - Jan 2014 )

29__TMACG_Gold_M15.png

--------------

EDIT: 20140113: The demos above ("normal" & "stacking") have been updated with latest logic found in "TMACG_Gold_M15_STACKING_B.mq4"

--------------

NOTES:

The version I've attached in Post #1 (TMACG_Gold_M15_STACKING_A.mq4) is the STACKING version with 1 feature removed and 1 feature added.

# Removed: continuation trades functionality. If you look at the MyFXB trades, you'll notice trades with Magic Number 2000 that almost always lost. These were continuation trades ( aimed at taking advantage of a further move after TP was hit. It was also supposed to help mitigate against sudden strong moves in one direction, but this has been overtaken by Slope Values feature below ). Without this, the demo would have been past 100% by now.

# Added: Slope Values feature: this prevents the taking of trades when price is suddenly moving strongly in one direction [ as opposed to the usual undulations that this EA thrives on ].

So the results for the STACKING version above do NOT have Slope Value feature (tested working OK on another demo) and HAVE the continuation feature enabled.

The EA I've attached in Post #1 has continuation removed and Slope Values inserted.

--------------

Sample charts:

tmacg_xauusdm15_2.png

tmacg_xauusdm15.png

NOTE: you do NOT need to put the TMA_CG indi on the chart. The charts above are purely for illustration. My charts actually look like this:

tmacg_xauusdm15_3.png

--------------

The EA's parameters

1. LotSize = 0.0
-> Set a fixed lot size or set to 0 (default) in order to have lot size auto-calculated using Risk value

2. Risk = 3
-> Percentage of *account balance* to risk *per trade*. Default = 3%

3. StopLossPips = 30.0
-> Stop loss pips. Default = 30pips

4. MaxSpread = 100
-> The maximum allowed spread *in points*. Default = 100points = 10pips

5. JumpingStopPips = 32.0
-> Jumping stop pips. Default = 32pips

6. JumpToBreakEvenOnly = true
-> The faith parameter. When "true" (default), will only jump the SL to BreakEven, and move it no further until trade is exited. When "false", SL will be jumped every JumpingStopPips that price moves in your favour.

7. BreakEvenProfit = 2.0
-> Number of pips to add to BreakEven. Default = 2pips

Added parameters:

8. AvoidStackingNearTP = false;
9. MinimumStackTPPips = 30.0;

-> Set AvoidStackingNearTP to true if you don't want stack trades opened near the TP. If you do this, also set the MinimumStackTPPips (default: 30 pips) to ensure stack trades are opened when price is this number of pips away from TP

.

[dudest]

Some points to ponder please:

# There are no guarantees in trading with this EA. There are some days it will do great, there are days it will not. Temper your expectations ( I have done so with mine ).

# This is a probability (+chance) game. We will all NOT get the same results. Different brokers + different feeds + different starting times (hence different scenarios encountered) = VERY DIFFERENT RESULTS. That is just the fact of trading with EAs.

Lastly:

# There are many BRILLIANT coders in here, who I know can do a way BETTER job at this than me. This is a second call [ first one went un-answered ] for one ( or several ) of you to create an EA based on the same concept ( using same or different tools ). We'll trade whichever shows the best promise

On my part, I am starting to trade mine live this month ( just sorting out bank transfer details, etc...) because I am comfortable with the concept and trade management ( having traded same way manually for some time ).

Once again, I wish us all happy and profitable trading!

Cheers

[milanese]

:hi:
Looks good


Subscribed

Cheers

Tommaso

[trader689]

looks very interesting, please keep us posted. can you share any preliminary results using the ea?

[harry45]

Sounds interesting,looking forward to try.
Good luck.

[fxozgirl]

Hey Dudest...good luck with your EA, I too would be interested in your results to date and keen to give it a try when you've posted it.

[AGT]

Wow - operating in the shadows dudest (sitting quiet a long time) has prepared a new serious, powerful weapon !
And obviously he had/has strong colleagues in a strong team !

Will try this baby in any case !

[dudest]

:hi:
Looks good


Subscribed

Cheers

Tommaso

I'm a big fan of your work Tommaso!

Great having you on here

Cheers!

[dudest]

looks very interesting, please keep us posted. can you share any preliminary results using the ea?

Thanks trader689!

Preliminary results in Post #2

Cheers