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.
- Bob's HGI indicator.
MAKE SURE YOU READ THIS POST http://www.stevehopwoodforex.com/phpBB3 ... 41#p111241 There was a Forex bloodbath on Jan 15th 2015 that you need to know about.
Holy Graily Bob is an attempted automation of trading with Bob's Holy Grail Indicator. Download Bob's zipfile from http://www.stevehopwoodforex.com/phpBB3 ... 45#p105045. You need a version of HGI in your Indicators Folder - extract it from the zipfile. Remember to change HGB's HGI_Name input to the name of the version you are using, or he will be excessively rude to you.
Are you a confused newbie? Don't clutter this thread with requests for basic information - I will delete them. Ask instead at http://www.stevehopwoodforex.com/phpBB3 ... 91#p105691 where friendly souls will help you out.
Wide Range Body
Fawaz suggested this to me as a possible filter to avoid bad HGB trades. A WRB is a candle whose body is larger than that of the preceding two candles. The yellow boxes in the picture highlight some WRB groups and the blue arrows show the actual WRB (load it into a new tab to view it more clearly): The point is that a WRB candle breaks through localised support/resistance, so the bot only trades when the market has started to move.
How the EA trades
I am going to call the bot wrb for ease of typing. wrb trades at the open of each new candle. It looks back at the previous candles until it spots an HGI signal. It then waits for a Wide Range Body candle that closes in the correct direction, then sends the trade. It closes the trade following an opposite-direction HGI signal.
Following a lay off, or on first loading up, we do not want to take trades based on HGI signals too far back in time. wrb checks for a Wide Range Body candle as it looks for an HGI signal, and makes no further calculations if it finds one. The chart feedback shows information detailing what it found. The rationale behind this is that the Wide Range Body candle would have been a trade had the ea been running at the time, so to take the trade now would be basing it on out-of-date information,
Inputs
Go to http://www.stevehopwoodforex.com/phpBB3 ... =87&t=4154 for the Holy Graily Bob user guide for any wrb inputs whose functions are unclear to you. Inputs unique to wrb are:
- MaxTradesAllowed: there are no multi-trades in wrb. wrb will take trades based on each new combination of HGI signal and Wide Range Body candles, up to the maximum allowed by this input.
- Trading styles inputs: there are true/false choices for all HGI signals except the big trend arrows. wrb trades those automatically - it would be silly not to.
- The comment fields allow you to see which combinations of signals generated the trades.
- CloseOnOppositeSignal tells wrb to close a trade when an opposite direction HGI signal shows. You can have hedged trades by turning this off, if your broker allows it.
- WrbCandlesLookBack: this allows you choice over the number of preceding candles that have to be smaller than the Wide Range Body candle. The default of 2 means that WRB ea will get the height of the body of the previous candle (shift[1]), then examine the two candles before that (shift[2] and shift[3]) to cancel the wide range body candle if either of them have a bigger body.
Basket trading
I have seen positions go several hundred pips to the good, that have left pips on the table when the market retraces and takes out my jumping stop. I have mptm running now, set to close the entire position at +400.
End of week/month trade closure and deletion
There are inputs that tell WRB when to stop trading and close trades, in the "End of week stop trading and trade closure" section. All hour inputs are 24 hour computer time - forget broker time:
- FridayStopTradingHour: Send no more trades on Friday once this hour is reached. >23 disables this feature.
- TradeClosureDay: Sunday is 0 in crapql4 terms, so the default of 5 tells PPoS to take closure actions on Friday. I have included this input for our friends in Upside Down Land. >6 disables this feature.
- WinningTradeClosureHour: close all trades that are in profit once this hour is reached on Friday. 23 disables this feature.
- LosingTradeClosureHour: close the outstanding losers at this hour on Friday. >23 disables this feature.
I have seen the combination of Wide Range Body candle and HGI signal generate substantial profits. I do not know if this is merely because the markets are volatile at the moment.
Nor do I know how many bad trades the Wide Range Body avoided. Perhaps someone with an eye for detail and epic patience could go back through a few charts and see? It would be a helpful piece of research.
This EA has made a promising start.
Have fun.
Manual intervention
To those of you with the occasional firing brain cell who are not too stupid and lazy to take any notice of anything I write: congratulations on reading this bit. You are in a minority. Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... 77#p119077 You will not be sorry that you did so.
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
- 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
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