PLEASE NOTE
I have locked this topic for the time being. This EA is an offshoot from http://www.stevehopwoodforex.com/phpBB3 ... 8998#p8998 We have done some serious development of the original EA and it looks far more promising than does this version. I have suspended development here and encourage you all to visit the first thread.
If there is sufficient interest here, then pm me and I will unlock this thread, but visit the original thread and trying that EA before contacting me about this one.
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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 tells you there is, is either a liar or an idiot. This EA will need manual intervention when NoOfTrades buys and sells are open, and the only recourse from there is to manage the basket manually.
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.
Ehup all
This EA has its genesis at http://www.stevehopwoodforex.com/phpBB3 ... 8998#p8998 Read about it first before continuing.
Gertje is a faithful coding of its inceptor's requirements. Gertje Plus tries to take the whole thing to a new level.
G+:
- - uses my favourite 20 period D1 Rsi trend detection routine, recommended to us by Scoobs a couple of years ago.
- does not trade a ranging market.
- awaits a retrace before entering the initial trade/trades by:- - drawing a 'trade line' on the chart, x pips away from the market. When this line is crossed, the trade/trades trigger. The line values:
- - can be created manually with the PipsDistanceToLine input, so long as AdrPeriod is set to zero.
- created using Scoobs' Adr method. This takes an average of the hilo of the last 200 days trading. This becomes the Average Daily Range (Adr) the pair travels, and is used to calculate the distance between the trade line and the market.
- AdrMultiplier allows you to manipulate the result of the Adr calculation. Suppose you want to use half of the daily range as the distance between the trade line and the market? Set AdrMultiplier to 0.5
- - can be created manually with the PipsDistanceToLine input, so long as AdrPeriod is set to zero.
- Once the market retraces to the trade line, here are your choices:- - take the hedged pair immediately (ImmediateHedge = true) or just the trade in the direction of the trend (ImmediateHedge = false the first hedge trade will only be taken if the market continues in the direction of the retrace and hits the first opposite direction pending trade line).
- from here:- - manually enforce the distance between trades by setting PipsBetweenTrades > 0 and AutoPipDivisor to zero.
- automatically calculate this distance by setting AutoPipDivisor > 0. G+ will then divide the Adr by this figure to dynamically calculate the distance between trades
- - manually enforce the distance between trades by setting PipsBetweenTrades > 0 and AutoPipDivisor to zero.
- - drawing a 'trade line' on the chart, x pips away from the market. When this line is crossed, the trade/trades trigger. The line values:
Ludo found the bot slowed his computer and ate processing power, so I added code to make the bot read Rsi at the start of each new M1 candle, rather than every tick; bear this in mind if you use a mtf Rsi on your charts.
Where do we go from here
To a large extent, that is down to you guys. Additions that come immediately to mind are:
- - basket trailing cash stop.
- basket stop loss.
- adding to the grid when a trade fills, so that there are always NoOfTrades 'pending' trades waiting to fill.
- dynamic take profit based on the number of trades open.
- individual trade management features when the market had cooperated and hedging did not immediately kick in (and ImmediateHedge = false).
Let the ideas flow.
Matters of general interest
Read this post:
http://www.forexfactory.com/showthread. ... ost4923611 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration. There is a thread devoted to Sam's trading method at http://www.forexfactory.com/showthre...25#post5118825
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.forexfactory.com/showthread. ... ost4431794, at the bottom of the post.
Useful utilities/EA's/scripts
Matt's chart-population script at http://www.stevehopwoodforex.com/phpBB3 ... 5733#p5733. Use this every time you start a fresh platform.
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.forexfactory.com/showthread.php?t=89371
Account equity analyser: http://www.forexfactory.com/showthread. ... ost4693716 Also at 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 ... p?f=5&t=15
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