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. Download an read about it at http://www.stevehopwoodforex.com/phpBB3 ... =88&t=3964
- Dottybot. Download the user guide from http://www.stevehopwoodforex.com/phpBB3 ... =93&t=4797
This EA is experimental and MUST NOT be used on a live trading account yet.
HGBnDnB is an extension of the idea of replacing DottyBot's nonlagdot with alternative trade triggers. Details are in the user guide attached. You need to download two libraries because HGBnD will not run without them:
- hgi_lib.ex4 from Bob's post 1 at http://www.stevehopwoodforex.com/phpBB3 ... =88&t=3964. You can put it in either your Experts or Libraries folder.
- HGBnD core library.mqh from http://www.stevehopwoodforex.com/phpBB3 ... =87&t=5077. This must go in your Include folder.
- Determines the potential trade direction ('trend' if you prefer) from the time frame chosen in the TrendTimeFrame input - default 4 hours.
- looks back over the previous TrendTimeFrameCandlesLookBack. No signal in this period means no trading.
- look for a long trade trigger when he finds a large green trend arrow or a buy trend blue squiggly line.
- look for a short trade trigger when he finds a large red trend arrow or a sell trend blue squiggly line.
- The trade trigger will be the market approaching the outer Bollinger Bands.
- BbPeriod, BbDeviation, BbShift and BbAppliedPrice are the EA equivalents to those of the BB indi.
- The BB time frame is TradingTimeFrame.
- DistanceFromBandPips (in the Trading style inputs) is how close to the outer bands you want the market to be before trading. I am doing everything on the H4, hence the default of 20. This needs to be lower on lower time frames.
- The only difference so far is the trade trigger. Nearly everything else is pure Dottybot - I created this EA from the Dottybot shell.
First week of trading: H4 for HGI and BB; $10,000 open balance; Skip to http://www.stevehopwoodforex.com/phpBB3 ... 40#p145240 now and return when you have read it. That post explains the idea I had to combine full hedging with HGI.
I have implemented a version of full hedging and offsetting following the full hedge trade closure:
- Imagine that there are 5 buys and 16 sells open. These are unbalanced by 11, which is greater than the default BuysAndSellsUnbalancedAt value of 10.
- HGI takes over and awaits a buy signal at the close of the previous candle:
- HGBnDnB will close the hedge when HGI generates a sell signal, so long as that hedge trade is in profit and OnlyCloseFullHedgeWhenInProfit is 'true'. He will close the hedge at a loss if there is an opposite direction signal and OnlyCloseFullHedgeWhenInProfit is 'false'; sounds bonkers to me but someone will want this facility.
- OffsetOppositeLosersAgainstProfit tells HGBnD to use the profit from the closed full hedge trade to close opposite direction trades:
- Imagine the buy hedge in this example made $2,000 profit and 10 losing sells can be closed at -$2,000. He closes the 10 trades.
- OffsetOppositeLosersAgainstProfit tells HGBnD to use the profit from the closed full hedge trade to close opposite direction trades:
- He will then carry on offsetting and gridding as before.
- HGBnDnB will close the hedge when HGI generates a sell signal, so long as that hedge trade is in profit and OnlyCloseFullHedgeWhenInProfit is 'true'. He will close the hedge at a loss if there is an opposite direction signal and OnlyCloseFullHedgeWhenInProfit is 'false'; sounds bonkers to me but someone will want this facility.
- GJ.
- M5 time frame.
- Open prices.
- Not visual mode.
- EA defaults.
- Watch the graph. It will stop moving when there is a full hedge in place. There will be a sharp spike upwards on the blue line when the hedge is removed, followed by a gently falling curve as the offset losers are closed. The the graph will start to move again.
I have made the default HGI_Name input that of the version currently in Bob's thread. Watch this in future releases. I am privy to the code and so usually use that non-expiring version. I cannot promise to remember to change the name in future releases.
Have fun.
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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