- 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.
- MTF HGI Bars TD from http://www.stevehopwoodforex.com/phpBB3 ... 42#p163642
- Tdesk. Read http://www.stevehopwoodforex.com/phpBB3 ... 90#p163890 to get started with TDesk
This is the same as Slopey Candle Bob at http://www.stevehopwoodforex.com/phpBB3 ... 46#p163346, apart from the three SuperSlope time frames used by SCB being replaced by their equivalent HGI's. You will need these from the bottom of post 1 in Bob's thread http://www.stevehopwoodforex.com/phpBB3 ... 44#p105044:
- HGI V 16.09.exe if you want to see on your charts the information Holy Graily Candle Bob is working with; HGCB does not need it. It goes in your Platform/MQL/Indicators folder.
- hgi.lib.ex4. HGCB does need this. It goes in your Platform/MQL/Libraries folder.
HGCB looks back over recent candles and finds the latest relevant signal i.e. large trend arrows, blue wavy lines and optionally yellow wavies:
- Buy trades: all three must have either a green trend arrow or a blue wavy long trade line.
- Sell trades: all three must have either a red trend arrow or a blue wavy short trade line.
- Common to all time frames:
- TradeTrendArrows: these are the large green and red trend arrows.
- TradeBlueWavyLines: underneath the candles means trade long; above means trade short.
- YellowRangeLinePreventsTrading: if 'true', the default, this tells HGCB to stop looking for a trend signal when it comes across a yellow range signal.
- HgiCloseOnOppositeSignal: this tells HGCB to close buy trades when all time frames line up short and vice versa.
- Time frame inputs: these turn the time frame HGI on/off, and allow you to select your time frames.
Everything else is a la Slopey Candle Bob, so for descriptions of candle, basket and other inputs go to http://www.stevehopwoodforex.com/phpBB3 ... 46#p163346 and download the user guide.
----------------------------------------------------------------------------------------------------------------------
Update 9th September 2018
Mat (SHF user name Ehrenmat) sent me a version of HGCB that implements slipshod's support and resistance indicator. The ideas he implemented are:
- HGI time frames: W1, D1, H4.
- Trading time frame: H1.
- Buy trades:
- Take profit at the lowest or highest of the next resistance zone.
- Stop loss at the highest or lowest of the next support zone.
- Sell trades:
- Take profit at the highest or lowest of the next support zone.
- Stop loss at the lowest or highest of the next resistance zone.
- No trading within a zone - you can see them clearly marked with rectangles when you load the indi.
slipshod is Andrew Sumner. You can find his indicator at http://www.stevehopwoodforex.com/phpBB3 ... f=27&t=514. You will need the extra Library and Include files for the indi to work. HGCB also needs them, so I have attached them here. I ask you to to to Andrew's thread for the indi itself, and please leave an appreciation of his work.
You will find HGCB's SR inputs underneath the HGI inputs. Their meaning will be obvious to most of us but newcomers might not understand. This next bit is for you:
- Resistance is a level above the current market price, at which the market has turned down and retreated in the past. Buyers took the market so far then ran out of steam. The big, market-moving institutions closed their trades and took their profits.
- Support is a level below the current market price, at which the market has turned up and started to rise in the past. Sellers took the market so far then ran out of steam. The big, market-moving institutions closed their trades and took their profits.
- Andrew's indi marks these levels with rectangles, creating S/R "zones". An example of a buy trade take profit input:
- UseResHighforBuyTP tells HGCB to close the trade when the market hits the high of the next resistance zone.
I am sure you can work out the remaining inputs yourselves.
Mat sent me his setfile to get us all going - attached. Watch his lot size; 0.01 lots per $500 dollop might be a bit rich, but try it on demo and see. These trades are, "I an right or I am out" trades, so there is no building up massive baskets of trades all in huge DD.
This is a fabulous contribution Mat. Thanks.
Try it out and see if it works for you.
----------------------------------------------------------------------------------------------------------------------
HGCB is fully TDesk compatible. Read about TDesk at http://www.stevehopwoodforex.com/phpBB3 ... 90#p163890 and follow the links to download the software and library. HGCB needs TDesk.mqh in your platform's /MQL4/Include folder to run.
----------------------------------------------------------------------------------------------------------------------
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
-