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Price Action Scalper EA
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3671		 Page 1 of 2
Author:  SteveHopwood [ Tue Jun 10, 2014 12:53 pm ]
Post subject:  Price Action Scalper EA
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.
THIS IS AN EXPERIMENTAL EA NOT YET BEING USED ON OUR LIVE ACCOUNTS

georgeforex contacted me on Sunday, asking me to code an ea that trades the strategy described in the .odt document. Everything happens at the close of the H1 candle.Taking a buy as an example:
  • the x.00 H1 candle has to close as an up candle.
  • the x.55 M5 candle has to close as an up candle.
  • the x.45 M15 candle has to close as an up candle.
  • the x.30 M30 candle has to close as an up candle.
  • take a buy trade at the close price of the H1 + 3 pips.
  • stop loss is the low of the H1 candle - 2 pips.
  • take profit is a multiple of the stop loss.
  • move the sl to breakeven at +15
The .odt doc has some nice pictures to illustrate all this.

I have not included the ADX because Pas has the usual panoply of stuff. Read the attached user guide for details - I will run mine on demo using Bob's M240 Period 240 moving average as a trend filter.

The chart candle colour display shows the relevant candle colours at the close of the previous H1 candle. There are some inputs that allow you to play with the way Pas works:
  • TF1/2/3/4 are the four time frames whose candles are consulted for direction, and default to the documented values.
  • Pas places dashed 'pending trade' lines on the chart when it spots a trading opportuninty - green for a buy and red for a sell. It sends a market order when the line is crossed by the market. Bear in mind that Empty4 charts are built up from the Bid. Pas triggers a buy when the Ask hits the buy line, and so it looks as though the trade has been taken prematurely.
    • LineDeletionMinutestells Pas to delete the line after this period of time has passed.
    • PendingPriceBufferPips is the number of pips above the H1 close to place the pending buy, or below for a pending sell.
    • StopLossBufferPips: the number of pips below the low (buy) or above the high (sell) of the H1 candle to set the stop loss.
    • TakeProfitMultiplier: creates the take profit by multiplying the stop loss by this value.
StopLossBufferPips and TakeProfitMultiplier are ignored if StopLosPips or TakeProfitPips are > 0, so you can have set stops if you prefer.

No idea if this can possibly succeed or not, so pop it on a few demo charts and see.

:xm:

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
Author:  pete14 [ Tue Jun 10, 2014 2:33 pm ]
Post subject:  Price Action Scalper EA
This one looks very promising. The system seams logical to me. I put it on a GP demo.
Let's see what happens.
Thank you Steve for the implementation into an Ea.

Peter
Author:  pete14 [ Tue Jun 10, 2014 3:05 pm ]
Post subject:  Price Action Scalper EA
Hi Steve,
I'm getting error 4107 all the time. Invalid price parameter for trade function.
Do you know how to solve the problem?
BTW I use the EA OOTB.
Thanks
Peter
Author:  Mescalitofx [ Tue Jun 10, 2014 8:54 pm ]
Post subject:  Price Action Scalper EA
check that the price is normalized correctly when you do order Send.

EG. replacing Ask with NormalizeDouble(Ask,Digits) if it would be the ask price causing the issue.

either the price, takeprofit or stop needs to be normalized to the number of digits.


could be line 1118, 1137, 1694, 1700

try to change those lines

Code: Select all

         StopLoss -= StopLossBuffer;
with

Code: Select all

         StopLoss  = NormalizeDouble(StopLoss - (StopLossBufferPips/ factor), Digits);

either - or +

try if that helps

and line 1309, 1335

Code: Select all

price = NormalizeDouble(iClose(Symbol(), TF1, 1) + (PendingPriceBuffer / factor), Digits);
with

Code: Select all

price = NormalizeDouble(iClose(Symbol(), TF1, 1) + (PendingPriceBufferPips / factor), Digits);
Author:  SteveHopwood [ Tue Jun 10, 2014 9:34 pm ]
Post subject:  Price Action Scalper EA
pete14 » Tue Jun 10, 2014 3:05 pm wrote:Hi Steve,
I'm getting error 4107 all the time. Invalid price parameter for trade function.
Do you know how to solve the problem?
BTW I use the EA OOTB.
Thanks
Peter
No idea why Peter, and you supply insufficient information for me to begin to look for one.

The problem has not arisen at my end, but I have only been running the ea on EU. Possibly the fact that a pending trade is set at the close of the H1 +- a small buffer is the problem - the market is too close to the pending price to allow the trade to be sent.

I will let it run for a while and see if the problem occurs here. Also, I will wait to see if others report the same thingy and provide a tad of information for me to work with - pair traded, some input values, that sort of thing.

:xm:
Author:  SteveHopwood [ Thu Jun 12, 2014 9:42 am ]
Post subject:  Price Action Scalper EA
I have done a revamp of the code in light of the order sending difficulties. Please re-read post 1 and download V 1a.

:xm:
Author:  alyale [ Fri Jun 20, 2014 2:06 am ]
Post subject:  Price Action Scalper EA
Dear Steve,

The EA can only buy.
Please check if you have time.
Author:  SteveHopwood [ Fri Jun 20, 2014 7:16 am ]
Post subject:  Price Action Scalper EA
alyale » Fri Jun 20, 2014 2:06 am wrote:Dear Steve,

The EA can only buy.
Please check if you have time.
The bot is coded to sell as well as buy. I wouldn't worry too much about it. The idiot georgeforex cannot even be bothered to show up here, so I assume he is a time waster and am going to delete his account when I have a few spare seconds. This thread will disappear also.

:xm:
Author:  DocT [ Fri Jun 20, 2014 1:55 pm ]
Post subject:  Price Action Scalper EA
As a scalper this could be quite effective, esp if traded near session opens where momentum will help. Steve can we play with it a few weeks more before you delete thread please?
Doc
Author:  SteveHopwood [ Fri Jun 20, 2014 8:58 pm ]
Post subject:  Price Action Scalper EA
taggie11 » Fri Jun 20, 2014 1:55 pm wrote:As a scalper this could be quite effective, esp if traded near session opens where momentum will help. Steve can we play with it a few weeks more before you delete thread please?
Doc
Ok. Will leave the thread in place - will just delete the dimwit when I next need cheering up. Someone will need to confirm that the ea is taking sell trades as well as buys, as I have no interest in this and so am not running it on demo.

:xm:
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