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EA based on support/resistance
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3506		 Page 11 of 15
Author:  milanese [ Tue Apr 22, 2014 3:31 pm ]
Post subject:  EA based on support/resistance
jhs » Tue Apr 22, 2014 3:18 pm wrote:Hello,
I'm quite new to EA in general, great indicator and fantastic work done by Tommaso, Congratulations!
I've already loaded it on different pairs (h4) but for interpreting and discussing the results I have to study it more in depth and understand better how it works. I've already read the thread but something is still not clear to me. Probably the answers are in the charts that gradually arise with the varius trades the EA will execute. Excuse me in advance if I'll post silly questions but, as I said above, I'm a newbie and my desire is to learn more, I believe this is a great tool and it needs to be seriously taken into consideration.
Could somebody help me to understand better please?
Just for start I would ask:
- the trade is open when the price "hits" the S or R zone or when it cross from above or below?
Thanks
Cheers.
Hi and welcome :)

The EA opens with a hit of the S/R zone the trade (if the spread is in the allowed range), it is not a very active trader, so you need some patience esp. on H4 time frame.

Cheers :)

Tommaso
Author:  putusernamehere [ Tue Apr 22, 2014 6:18 pm ]
Post subject:  EA based on support/resistance
Hi; :hi:
I test for some time ; TheSRzoneEA E ( OOTB M30)only demo
it has made only 2 trades last week :good:


Cherrs Gunter :hi:
Author:  jhs [ Tue Apr 22, 2014 7:54 pm ]
Post subject:  EA based on support/resistance
Hi,
Thanks Tommaso for your welcome and for your answer. Ok I must be patient with 4h.
I have a doubt about "hit" order: if the market is in a strong trend there is also the possibility that a retest of S/R levels is a consequence of a refresh buy/sell pressure. Ok you can try to filter it using MinHints var. In manual trading I would use other criteria for filtering out fake signals but talking about EA what's your opinion about using a buy/sell stop order just few pips above S or below R? This could be a little strong sign that the market has tried to reverse. No guarantees that will happen, naturally...
Thanks
Cheers
Author:  jhs [ Fri May 02, 2014 10:20 am ]
Post subject:  EA based on support/resistance
Hello,
could someone help me to understand what has happened in this trade please? I'm working with MinHits=1.In agreement with the description of the program it should open the position when the price hints the upper border of the support zone (with SL below the lower border).
In addition to that it seems quite strange to me that in the past hours (from April 28) it has never placed a short trade.
Thanks a lot.
Cheers
Author:  milanese [ Fri May 02, 2014 10:24 am ]
Post subject:  EA based on support/resistance
jhs » Fri May 02, 2014 10:20 am wrote:Hello,
could someone help me to understand what has happened in this trade please? I'm working with MinHits=1.In agreement with the description of the program it should open the position when the price hints the upper border of the support zone (with SL below the lower border).
In addition to that it seems quite strange to me that in the past hours (from April 28) it has never placed a short trade.
Thanks a lot.
Cheers
the trade is taken correct, it opens in the actual version at the lower border of the support-zone..

Cheers :)

Tommaso
Author:  jhs [ Fri May 02, 2014 10:31 am ]
Post subject:  EA based on support/resistance
OK, Sorry! I need to study more... Thanks
Author:  mftrader [ Sat May 10, 2014 6:01 am ]
Post subject:  EA based on support/resistance
Regarding this EA. The SupRes is Price Action. Anyway if there are strong trends, price doesnt care for previous SR levels. Does the EA has trend strength detection? Is it possible to build in News Filter in this concept?
;)
Author:  milanese [ Sat May 10, 2014 11:14 am ]
Post subject:  EA based on support/resistance
mftrader » Sat May 10, 2014 6:01 am wrote:Regarding this EA. The SupRes is Price Action. Anyway if there are strong trends, price doesnt care for previous SR levels. Does the EA has trend strength detection? Is it possible to build in News Filter in this concept?
;)
The EA uses so far only the strength from the SR zones for the trend strenght detection. The spread filter is used to avoid to take trades in spread spiking moments like news at exp..there would be sure the possibility to embed a news filter but I do not know how much sense it would make..

Cheers :)

Tommaso
Author:  putusernamehere [ Fri May 30, 2014 6:57 pm ]
Post subject:  EA based on support/resistance
Hi; :hi:
here are the results TheSRZoneEADudestE_6xx.mq4 last month 05 OOTB M30
whithout intervention it is only demo

Cheers Gunter :hi:
Author:  AGT [ Fri May 30, 2014 7:55 pm ]
Post subject:  EA based on support/resistance
Thanks for your patience ! So - we have to accept perhaps, that this bot isn't a really good choice - here are a lot of more hopefully better candidates ? ;)
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