Monday Zone Break Out EA

[mirador]

I would like to start a reflexion about adding a smart trailing stop to MZBO strategy. It could definitely gain more pips if the EA can exit a trade when the trend change way as shown in this recent GBPJPY trade.

You will find attached a suggestion to add a smart trailing stop.

The numbers in the document are only for example. No calculation or algorythm test have been made yet.

I would appreciate your comments and please feel free to improve the concept.

Mirador

Thank you for posting this, I will take a look at your concept and I hope to hear other suggestions too.

Cheers

Tommaso

Hello,

I have looked at your concept, and it is for sure interesting, but it would make a completly new EA imo, something like a MondayBreakout merged with Marylin.

Cheers

Tommaso

Hi Tomasso,

The first idea was to work on a good exit system that could be implement on other EA if desired. As many work on indicators or EA to find the right time to enter a trade, I thought that the exit concept is as important if not more. TP and SL shoul listen to indicators to jump or retreat according to market conditions. I found MZBO a good test ground.

BTW, this week MZBO starts strong on many pairs, hope it will cash in the pips.

Cheers!

[milanese]

Hi Tomasso,

The first idea was to work on a good exit system that could be implement on other EA if desired. As many work on indicators or EA to find the right time to enter a trade, I thought that the exit concept is as important if not more. TP and SL shoul listen to indicators to jump or retreat according to market conditions. I found MZBO a good test ground.

BTW, this week MZBO starts strong on many pairs, hope it will cash in the pips.

Cheers!

Hi,

your are for sure right that moving the SL with technical motivations is a very good basis, you see it working in MM and too in the MondayBreakout, as the vola of asia session from monday is used for the different tp calculations and for moving the sl to be.

Cheers

Tommaso

[mirador]

Hi Tomasso,

The first idea was to work on a good exit system that could be implement on other EA if desired. As many work on indicators or EA to find the right time to enter a trade, I thought that the exit concept is as important if not more. TP and SL shoul listen to indicators to jump or retreat according to market conditions. I found MZBO a good test ground.

BTW, this week MZBO starts strong on many pairs, hope it will cash in the pips.

Cheers!

Hi,

your are for sure right that moving the SL with technical motivations is a very good basis, you see it working in MM and too in the MondayBreakout, as the vola of asia session from monday is used for the different tp calculations and for moving the sl to be.

Cheers

Tommaso

Yes, an evoluate TP/SL system seems to work well with MM, but I did not see SL as effective with MZBO. TP3 system looks good though.

[milanese]

Yes, an evoluate TP/SL system seems to work well with MM, but I did not see SL as effective with MZBO. TP3 system looks good though.

Maybe a change in the the initial sl concept could be interesting, yes .. using here like with the tp concept three different initial sl..
Maybe a too a function closing the trades, if the first two H4 bars are loosing bars.

Cheers
Tommaso

[milanese]

Ok here we go with a new experimental version of the MondayZoneBreakout EA..
New the EA will close the trade if the first two H4 bars are closing against the trade direction.
New too, the trade with the TP2 has a SL moving function like the TP3 trade..
The EA you will too find attached at the first post..

MondayBreakoutEA_ModTP3X1.mq4

Cheers

Tommaso

[mirador]

Maybe a change in the the initial sl concept could be interesting, yes .. using here like with the tp concept three different initial sl..
Maybe a too a function closing the trades, if the first two H4 bars are loosing bars.

Cheers
Tommaso

Yes, three different SL working in relation with their TP. A straight SL1/TP1 as it is right now. A conservative moving SL2/TP2 that could grab more pips but that could avoid loosing as many pips as TP1. A SL3/TP3 there for the big pips.

Any other brain wants to jump in the discussion ?

[putusernamehere]

thanks for your work Tommaso and the new program. The old version was already very beautiful. I will apply this live and wish us good gains.
Cheers Gunter :hi:

[putusernamehere]

here the results from the EA .I like it the new version I`m testing next week live

[milanese]

here the results from the EA .I like it the new version I`m testing next week live

Thank you Gunter for posting your results.

Cheers

Tommaso

[Nicastro]

Great EA. My compliments to you Tommaso.
Will there need to be a new build 600 version?