Pipsmasher Light

[MarcK]

Dear all,

since I am a silent reader of this forum I'd like to give something back and hope not being kicked for that.
I wanted to make use of Pipsmasher on my own and created a MQL5 Code...

Feel free to test it...

Overview
The Pipmasher RegimeFilter EA is a multi-timeframe swing trading system designed for automated forex trading. It employs a counter-trend strategy using regime analysis across three timeframes to identify high-probability entry points. The system features a dual exit mechanism combining scheduled weekly closes with emergency safety exits.
Core Trading Strategy
Multi-Timeframe Regime Analysis

Longer Timeframe: Monthly (MN1) - Primary trend identification
Medium Timeframe: Weekly (W1) - Intermediate trend confirmation
Trading Timeframe: Daily (D1) - Entry signal generation

The system analyzes candle direction (bullish/bearish/flat) on each timeframe to determine market regime and generate counter-trend signals.
Entry Conditions
Setup Requirements
Long Positions:

Longer TF: Bearish (counter-trend)
Medium TF: Bullish (with trend)
Trading TF: Bearish (counter-trend trigger)

Short Positions:

Longer TF: Bullish (counter-trend)
Medium TF: Bearish (with trend)
Trading TF: Bullish (counter-trend trigger)

Additional Filters

Weekday Filter: Configurable trading days (Monday-Friday)
Time Filter: Orders executed only at specified hour
Candle Strength Filter: Minimum body-to-range ratio requirement
Volume Validation: Ensures lot sizes meet broker requirements

Trade Execution

Order Type: Market orders (immediate execution)
Position Sizing: Fixed lots, percentage-based, or ATR-calculated
No Stop Loss/Take Profit: Relies on time-based exits

Exit Strategies
Primary Exit System (Weekly Close)

Schedule: Configurable weekday and time (default: Friday 16:00)
Function: Systematic position closure for swing trading cycle
Priority: Primary exit mechanism

Safety Backup System

Maximum Hold Time: Emergency exit after configurable days (default: 10 days)
Maximum Loss Protection: Account-based loss limit (default: 20%)
Activation: Only when primary system fails

Risk Management
Position Sizing Options

Fixed Lot Size: Constant position size
Percentage Risk: Position size based on equity percentage
ATR-Based Sizing: Volatility-adjusted position sizing

Safety Features

Margin Management: Automatic margin requirement calculation
Safety Margin: Configurable equity buffer (default: 5%)
Loss Monitoring: Real-time drawdown tracking
Emergency Stops: Automatic position closure on safety triggers

Configuration Settings
Time Management

Time Mode: Broker time or local computer time
Time Offset: Adjustable timezone compensation
Trading Hours: Configurable order execution time

Trade Control

Direction Control: Enable/disable long/short trades
Magic Number: Position identification
Multiple Timeframe Settings: Customizable TF combinations

Performance Optimization

Display Control: Optional backtesting display
Update Frequency: Configurable refresh intervals
Caching System: Optimized data retrieval

Technical Features
Market Analysis

Candle Direction Detection: Automated OHLC analysis
Timeframe Synchronization: Multi-TF data coordination
Performance Caching: Optimized for speed

Trading Infrastructure

MQL5 Trade Library: Professional order execution
Error Handling: Comprehensive trade validation
Logging System: Detailed operation tracking

Monitoring and Display

Real-time Status: Live trading condition display
Position Tracking: Current holdings and age monitoring
Performance Metrics: Drawdown and risk tracking

Risk Warnings
This EA trades without traditional stop losses, relying instead on time-based exits. Users should:

Understand the counter-trend strategy risks
Monitor account equity regularly
Test thoroughly in demo environment
Ensure adequate account funding
Consider market volatility conditions

[trader689]

thanks MarcK, looks interesting.

Have you done any forward tests with the EA

trader

[SteveHopwood]

Thanks MarcK. You have clearly put a lot of work into this. Many of our members are fans of MT5 so I am sure there will be plenty of interest.

[thomasmore]

looks very interesting !

[MarcK]

thanks MarcK, looks interesting.

Have you done any forward tests with the EA

trader

Sry for late reply...not yet, but I set strategy to live already...once there is a trade I will leave you an information in this chat...

[trader689]

thanks MarcK

[jptwardy]

Looking forward to results - thanks

[MarcK]

found an error in calculation of last day...I excluded all sundays

[WillemJvR]

Good morning i also put the EA on my demo account What time frames wil be the best

[jako]

According to .set file is for DAX.