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.
- Super Slope from http://www.stevehopwoodforex.com/phpBB3 ... 101&t=4888
/viewtopic.php?p=142851#p142851 - Peaky.
- My peak hilo indi. Download the indi and a pdf explaining what it does from viewtopic.php?p=159559#p159559.
- The concept of 'buy the dips and sell the rallies'.
This EA uses a retrace of x candles in the 'wrong' direction to generate a trade in the direction indicated by your choice of Super Slope and Peaky inputs. It uses the Slopey Peaky Bob engine found at viewtopic.php?p=159559#p159559. Read SPB's User guide for information about everything apart from this trade trigger.
You need the "SPB core library.mqh" file in your platform's Include folder. Download it from viewtopic.php?p=159559#p159559
The perceived wisdom is: buy the dips; sell the rallies so:
- When SS/Peaky indicate buy only, wait for the no of candles in your NoOfCandles input to fall before sending a buy trade. He ignores 'flat' candles.
- When SS/Peaky indicate sell only, wait for the no of candles in your NoOfCandles input to rise before sending a sell trade. He ignores 'flat' candles.
I like this EA a lot and now have it on three $1,000 live cash accounts. I have attached the set file I am using in case you want to try it yourself. To summarise:
- H1 time frame.
- 6 candles retrace to trigger a trade.
- SL 50, TP 100.
- 0.05 lots order size. The I-am-right-or-I-am-out nature of the EA justifies the high lot size.
SPB CP is a bit of a roller coaster ride, so you need to remember the big picture. The testing demo I started on the 26th June is still running the same set file apart from 1 lot order sizes. It is currently worth $26,458 i.e. in increase of over 30%.
Coders
Use Candle Power as a shell template to which you can add your own trade triggers. The attached, "Adding your own trade trigger.pdf" explains how.
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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