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.
- Evaluator's Symphonie trading system described at http://www.stevehopwoodforex.com/phpBB3 ... 2402#p2402
- Renko candles.
- - How to use EA's.
Ehup all
Intro
This EA has its genesis at http://www.stevehopwoodforex.com/phpBB3 ... 2402#p2402 Read about it first before continuing.
Then, you might care to pay a visit to http://www.stevehopwoodforex.com/phpBB3 ... 9216#p9216 to read about the EA I have coded that attempts to trade Symphonie as Evaluator posits his system.
Moving on
Wapen sent me a pm last week stating that he was enjoying success trading 15 pip Renko bars in conjunction with Symphonie-Sentiment:
- - Sentiment is aqua and previously was red: close any open sell trade and open a buy.
- Sentiment is red and previously was aqua: close any open buy trade and open a sell.
Required indicators
The attached Symphonie_Sentiment_Indikator. You do not need any of the other Symphonie indicators. You must have this version of Sentiment.
ARS
ARS is fully described in post 1 of Evaluator's thread. UseARS is the input that turns this off. It is on by default. The total of lot sizes is calculated from all the open trades on the account, not just those owned by Symphonie. Evaluator rates this money-management as central to his trading success, so turn it off at your peril and do not blame me if you subsequently blow your account.
Other stuff
The usual stuff is included - Hanover, CBI, trend determination, ATR for stops/tp's etc. No Recovery or Caterpillar as I see no use for them here. Find a copy of my Shell user guide which has explanations for a lot of the inputs. Ignore inputs described in the guide that you cannot find in the EA inputs.
More warnings
Renko is seductive when you look at it on a chart - those rising/falling bricks seem soooooo clear. Be warned that I have yet to code an EA that has traded them profitably.
EA's cannot read the chart. They work by sending calls to the indicators that reside within your indi folder. These indi's require a time frame, so most EA's send a call that includes the chart time frame. Renko charts are independent of time frames, so this may make an EA completely ineffective.
b]In conclusion[/b]
Have fun, if you can.
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.stevehopwoodforex.com/phpBB3 ... p=803#p803, 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