• 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.
    - Moving averages.
    - Martingale, and you really do have to understand the implications of this particular piece of spectacular lunacy.

• - define the trend using Slowkey's 2 moving averages. If the fast ma is > the slow ma, trend is up. If below, trend is down. I use 100/200.
  - reinforce this with an optional D1 Rsi. When I use this, I use the D1 20 period: Rsi > 55, trend is up; Rsi < 45, trend is down; in between, market is ranging.
  - in an uptrend, the first trade in the grid triggers at the start of a new candle, when the previous candle's low was below the fast ma and closed above.
  - in a downtrend, the first trade in the grid triggers at the start of a new candle, when the previous candle's high was above the fast ma and closed below.

• - trade is triggered. The trigger candle's low becomes the point at which an opposite direction sell trade will be sent; call this NextTradePrice.
  - the market heads south. When a bear candle closes below NextTradePrice.
  • - the bot sends a sell trade.
    - lot size is the initial trade's lot size x LotMultiplier. Buy trade lot = 0.01, so this trade's lot is 0.02, using the default LotMultiplier.
    - the high of the trigger candle becomes NextTradePrice
  - from here, if the market continues to head south, the profit target is reached quickly.
  - if, instead, the market heads north again, and a bull candle closes above NextTradePrice:
  • - send a second buy trade. Lot size is the previous sell trade's lot x LotMultiplier, i.e. 0.04
    - NextTradePrice becomes the low of the trigger candle

• - Eventually can be a long way off.
  - do a bit of mental arithmetic. Start with 0.01 lots and work out how many levels you have to go through to get to the kind of scary lot size you would not trade even in your wildest dreams. Then contemplate this: the next trade is at double the scary level.

• - slowkey 2MA template to save the bone-idle having to set up their own ma's. Make sure your EA inputs match those of the template - by default they do.
  - mtf Rsi so you can have it on your chart should you decide to. Goes in your indicator folder but is not needed by the EA.
  - the EA.

• - maximum lot size feature to stop the account being blown. I leave you to work out for yourselves the implications this has for a system that only aims for a tiny profit in the first place.
  - a 'trade only one pair at a time' feature, so we can run the bot on lots of charts without ending up with lots of pairs.

Alpenkorps wrote:Thanks a lot Steve for coding this, I am amazed to see your level of patience.

I am sorry for being late to join, I got caught with some family thingy. I am still backtesting and comparing the results, once I am done, I'll post them one by one.

The original idea is to scalp, but what do I know!! The bot works fine at 4H and daily too !!

SteveHopwood wrote:Update in post 1 (V 1f). As soon as I turned on Rsi some holes in my logic emerged that I had not noticed in code-testing backtesting.

Coders, replace hte void FirstTradeOpportunity() function with this:

Code: Select all

void FirstTradeOpportunity()
{

   //Looks for an initial trading opp. The trend has already been determined.
   
   if (SendLong)
   {
      //Previous candle must have crossed and closed above the fast moving average
      if (Low[1] >= FastTrendMaVal)  {SendLong = false; return;}
      if (Close[1] <= FastTrendMaVal)  {SendLong = false; return;}
      if (UseRsiTrendDetection && RsiTrend != up)  {SendLong = false; return;}
      if (SlowkeyTrend != up)  {SendLong = false; return;}
      
      //Buy trades must follow a rising candle
      if (!IsBull()) {SendLong = false; return;}
   }//if (SendLong)
      
   if (SendShort)
   {
      //Previous candle must have crossed and closed below the fast moving average
      if (High[1] <= FastTrendMaVal)  {SendShort = false; return;}
      if (Close[1] >= FastTrendMaVal)  {SendShort = false; return;}
      if (UseRsiTrendDetection && RsiTrend != down)  {SendShort = false; return;}
      if (SlowkeyTrend != down)  {SendShort = false; return;}

      //Sell trades must follow a falling candle
      if (!IsBear()) {SendShort = false; return;}
   }//if (SendShort)
   
}//void FirstTradeOpportunity()

These 4 lines of code are the additions:
if (UseRsiTrendDetection && RsiTrend != down) {SendShort = false; return;}
if (SlowkeyTrend != down) {SendShort = false; return;}
if (UseRsiTrendDetection && RsiTrend != down) {SendShort = false; return;}
if (SlowkeyTrend != down) {SendShort = false; return;}