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Developing a system #16 (40 pips per trend)

Submitted by Yantz

Hi Edward!

I have written a small ea that needs some tweaking. perhaps adding some indicators would be good. basically it just wait for the price to move 60 pips then enter for another 40 pips.

My idea is that, once it has moved 60 pips, it is trending already and should move at least another 40 pips. then it will wait for a reversal. it will not enter another trade in the same direction. it will always wait for a reversal.

Update: I have a very good update regarding my earlier system under testing that i submitted. i added adx 14 to filter out some bad trades and i managed to increase my strike rate from 61% to 72% from period jan 09 to may 09! my addition is: adx must be above 25, and +di must be above -di for buy orders and +di must be below -di for sell orders. the roi is amazing! i'm sure the system can be improved further and i'm also sure it can be used for other pairs by tweaking the sl, tp and minimummoves settings. i attached herewith the updated ea.

yantz_swing_v1.3.mq4

Yantz



http://forex-strategies-revealed.com/


Sounds nice!
Yantz, could you just upload the EA one more time, make sure you add a link to your comment, so that we can find the file.

Thomas

HI Yantz, I am trying your EA and its very good. I am testing it on the GBP/JPY and it has so far given me about 78% strike rate. IT moves much more than EUR/USD. Also I think EUR/USD works better with 20-30 pip T/P. I will backtest it soon.Have you tried this at all and do you have more feedback on it yet.Also have you tried it on 4 hour or Daily charts. Thanks for the EA Darrell. Also thanks to Edward for this site

thx darrell for trying it out. i'm forward testing it on 8 pairs currently. i'm testing them on my live fxcm micro account. today, at this time, it has opened 5 positions and closed 3. all the 3 closed trades are winning trades. the balance 2 open trades are currently -10 and -8 pips. backtesting in mt4 is very unreliable. the ticks created most times are far from accurate. what i would want from this project ultimately are the best tp/sl/minimum moves for each pair. and is there any good or bad trading times? and any additional indicator that can improve it.

regarding other tf, i strongly believe it will work too, provided the 3 parameters are correctly set. you can test it for yourself by changing all the H1 in the script to H4 or D1.

thx once again darrell for testing it. gbp/jpy is not in my list of 8. did you use 60/40/60 for it?

yantz

Looks pretty good.

If you just use 0 instead of PERIOD_H1 when you call the indicator (iADX(NULL,0,14,PRICE_CLOSE,0,0) instead of iADX(NULL,PERIOD_H1,14,PRICE_CLOSE,0,0)), your EA will always use the timeframe to which it is applied with the correct settings, without a need to change your code every time.
Also did you try to add a trailing-stop, or at least move you SL to break-even after price moved in your favour for some pips?

As soon as I have some time I will check your EA thoroughly and maybe I can improve it a little.

If you would like others to check the code of your EA it would be very useful if you add comments to your code so it is easier to read. Also think about what will happen if you want to have a look at your code in one year (maybe you need a part you already used there). Without comments you will have to check every line and every funktion to find out what this line does. So you will need a lot of time. With comments you just need to scan through them. That would save you a awful lot of time.

If you have any questions about it feel free to contact me via email at info[at]forex.space-mailer.de

Happy trading,

Philipp

hey philipp! thx a lot for your suggestions! i've edited the ea to include comments and remove all hardcoded H1 tf parameters. it will now use whatever tf the ea is running on the chart.

i'm very grateful that you would take a look at it and try to improve it. thx once again!

yantz

hi thomas! heres the ea.
yantz_swing_v1.3.mq4

*edit: updated the ea*

Thank you :)
I'll put this updated one up in the initial post.

these are trades that i managed to get into. my pc is not on 24/7. all are on 60/40/60 settings.

GBP/USD 3/3 +120
EUR/GBP 1/2 -20
USD/CAD 1/1 +40
EUR/JPY 1/1 +40
USD/JPY 2/2 +80
EUR/USD 1/1 +40
EUR/CHF 0/1 -60
GBP/JPY 1/1 +40 <- darrell, this pair sure has a lot of potential, too bad i set it up late
---------------
Total: +280 10/12 83.33%
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these were traded on my live micro account. 1 more open position was not closed. gbp/usd was at -10 pips at market close.