SERIOUS WARNING
- Most Forex traders lose all their money.
- Using the robot posted here in trading Forex does not guarantee success.
- Trading these EA's could lead to serious financial loss.
- Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
- These are not set-and-forget eas; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
- To use these 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.
- Bob's 10.7.
Introduction
Tommaso's fantastic indi gives us all the signals we need when sat at, or at least in the same room as, our computer. Brilliant.
Life is trickier when we have to leave our computer unattended. That is where these four helper ea's come into play. Use them when:
- you have decided to trade, and in which direction.
- you are waiting for the Stoch7 to pass the relevant level to trigger a trade........or......
- you have an open trade and want it managing.
- Steve's 10.7 Waiting to Buy into the trend.mq4:
- both the red and yellow lines are at the top.
- you are waiting for the blue line to go below/be below either of the 30/10 lines, then cross back above.
- Steve's 10.7 Waiting to Sell into the trend.mq4:
- both the red and yellow lines are at the bottom.
- you are waiting for the blue line to go above/be above either of the 90/70 lines, then cross back below
- Steve's 10.7 Waiting to Buy into the retrace (CT).mq4:
- the "CT" stands for "Counter Trend".
- red line is at the bottom but yellow line is at the top.
- you are waiting for the blue line to go below/be below either of the 30/10 lines, then cross back above.
- Steve's 10.7 Waiting to Sell into the retrace (CT).mq4:
- the "CT" stands for "Counter Trend".
- red line is at the top but yellow line is at the bottom.
- you are waiting for the blue line to go above/be above the either of 30/10 lines, then cross back above.
Trade exits and management
There are the usual take profit and stop loss inputs.
The input UseDailyStochForExit tells the helper to close the trade if the yellow line flips and then remains flipped for MinutesToConfirmYellowFlip minutes. Tommaso and I added the code for this feature because we noticed that the yellow line can flip at one tick and so cause trade closure, only for it to flip back again on the next tick and for the market to continue on its merry way and leave us grinding our teeth in frustration. I am not sure we have this quite right just yet, so keep an eye on what is going on.
Once a helper detects that the trade it was managing has closed, it will unload itself from the chart.
Blue line chart display
The usual way of detecting a cross of something by something else is: compare the value now with the close of the previous candle. The blue Stoch7 line can move pretty fast and a cross could be missed using the usual method. For example, both yellow and red lines are at the top but the blue is at 70. It is possible for the blue to fall below 30, then rise back above it within the space of the same candle, and so the cross is missed.
The ea's store the blue line value every 5 minutes to overcome this. So, at the start and then once every 5 minutes or so, both blue line chart values will be the same. At each subsequent tick, the left display will remain constant and the one on the right will be updated with the latest value.
The usual stuff
All the usual stuff is included, so study the attached Shell User Guide for any inputs that you do not understand and which I have not described previously.
The Buy/Sell Twice helpers
These work in the same way as the four original EA's I describe above, except that they allow two trades - one at the cross of each relevant Stoch7 level.
There are two vital inputs - Trade1Comment & Trade2Comment.
- These must be different.
- They cannot be left blank.
10.7 EA shell code
Tommaso and I have created a 10.7 autotrading shell that will allow any competent coder to combine their favourite trading tools into a quick-and-easy-to-create ea. I have included instructions on how to add your favourite indicators etc. Find it at http://www.stevehopwoodforex.com/phpBB3 ... =37&t=3565
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.stevehopwoodforex.com/phpBB3 ... f=5&t=3427
- 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
