Kill Zone Breakout EA

[Dewey McG]

This EA is based on methods described by GG53 here: http://www.forexfactory.com/showthread.php?t=381696. I have been using one of the methods live already: http://www.stevehopwoodforex.com/phpBB3 ... =16&t=3213

At the risk of being overly simplistic, we are using volume to first avoid trading in a “kill zone” and then to determine when a breakout is occurring. Please read the other threads for more details.


This is NOT ready for live trading.


Special thanks go to GG53 for sharing his ideas and CHJungen for coding the EA without going crazy with the numerous requests I asked for.

This is NOT suitable for live trading yet and there may well still be bugs. However you can see from the last week (even with a few bugs which have since been fixed) it shows a lot of promise.

There are 2 ways to use this EA:

1. Fully automatic for the Asian Breakout. If there was a big move during the Asian session then disable the EA. The breakout has already occurred. Later we hope to get this programmed into the EA as well. Otherwise this will open a trade when the Gadi_OBV breaks out of the channel. In order to avoid false spikes you can set the number of ticks the Gadi_OBV must be outside the channel before it enters the trade. Confirmation is the slope of the TVI_2. This would be used on a 15 min chart. Most of the testing has been on the EURUSD, but this should work on any pair. I suspect pairs which have at least once currency's bank open during the London session will work better, but that is just a gut feeling.

2. Semi-automatic on any pair on any time frame. Whenever you see a period of consolidation on your chart of at least 6 bars then you can draw 2 vertical lines on your chart. Name the first one OVBSTART which you place at the beginning of the consolidation period and the second one OVBEND which goes on the last bar. You might need to click refresh to see the channel drawn.

You have several choices with the settings. One of which is a news filter. If left on it will not take a trade 30 minutes prior to the news and will close trades 30 minutes prior as well. You can also have this close trades if still open after a certain period of time if not yet in profit. There are also several choices for how to set your TP and SL. So far I have found trailing = true, trigger pips = 20, step pips = 10 to be the best settings.

Back testing this EA is painfully slow and as such incomplete. The set file I have included is one setting that appears to be profitable for the EURUSD but may or may not be the best for other pairs or even the best for this pair. With all the great minds on this thread I am hoping more will test different options to help find the best settings.

The attached indicators must be in your indicators folder for this to work.

Edit Dec 4. New EA with added feature of ability to set a minimum Stop Loss

[SWG123]

Hi Dewey,

I've got this running on a Vantage FX demo using EJ, EU and GU on M15. I'm setting the lines manually. The EA correctly took the EJ short on the breakout, but not the other two. Is this a glitch my end, or did yours do the same?

Cheers,
Steve

[bazze]

Why is it so that my TVI_v2_Line indi don't look like yours?
Can you please share the brokertime indi?

[SWG123]

Why is it so that my TVI_v2_Line indi don't look like yours?
Can you please share the brokertime indi?

That's because it's a different indi. TVI_v2 shows the histogram and is not the same as TVI_v2_Line.

[SWG123]

Hi Dewey,

I've got this running on a Vantage FX demo using EJ, EU and GU on M15. I'm setting the lines manually. The EA correctly took the EJ short on the breakout, but not the other two. Is this a glitch my end, or did yours do the same?

Cheers,
Steve

OK, seems to be working fine.

KZ 131125.JPG

[Dewey McG]

A lot more testing to do, but here is an update on how it is doing so far since we started testing. I sorted by currency, which after a while should help give a good indication which ones perform the best.

This is just for the automatic version at 2% risk.

[Dewey McG]

From Chris, who did the coding:

Due to a bug in an older version, some trades have been opened before London Open by the EA.

All of those trades were losses or break-even. Without those, the result would be about 400$ higher.

[xirtamx]

Hi Dewey,

Are you using the set file included in the first post or default values for all the currencies in the results you posted?

[AGT]

Hi Dewey - a bugfixed version will be posted soon ?

[Dewey McG]

Hi Dewey,

Are you using the set file included in the first post or default values for all the currencies in the results you posted?

I am using the set file on all of them for now