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.
- How to tell the time.
- ATR indi
Introduction
Bob gave me this idea earlier today, after I read in one of his 10.6 posts that he often closes JPY trades 2-3 hours into the JPY session; he stated that the Yen often turns around during this period.
I have coded Snapback to take advantage of this. At the time you chose in the relevant inputs, S:
- looks back to the relevant open price.
- compares this to the current market price.
- sends a buy if the market has fallen a sufficient number of pips. Vice-versa for a sell.
- TradingWindowHour: here in the UK, this represents 2 hours into the JPY session. You have to work out what this input needs to be in your own time zone. Do not ask questions about this; I will delete your post.
- TradingWindowMinutes: stop looking for trading opportunities this number of minutes into TradingWindowHour.
- OpenPriceShift: S looks at the open price of the OpenPriceShift candles ago for comparing with the current price.
SnapBackPips is the number of pips the market must have moved to allow a trade. You can also use ATR:
- the period and timeframe inputs default to 14 on the H4.
- AtrSnapMultiplier: ATR is multiplied by this input to calculate SnapBackPips. A zero value turns this off and S will use your SnapBackPips input.
There are the usual inputs. You can also use ATR to calculate sl and tp. There are the usual multipliers available; set them to zero to cancel use of ATR in either sl or tp calculations, and S will use the values in the StopLossPips and TakeProfitPips inputs.
Note: the ATR defaults are guess work.
Other inputs
All the usual stuff is included - described in the Shell User Guide.
Conclusion
No idea whether this bot can be a success. All we can do is try it and see.
Shell user guide
This describes the usual inputs in my EA's. Consult it for details not listed above.
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