Advanced system #14 (Simple trading with Daily range)

A few suggestions...

If you open the EA in the the Metaquotes Language Editor (under Tools, or F4) there are comments about the meaning of each variable. Its not too scary once you know what each one means.

Most of the settings are self-explanatory, however I've attached a preset file for USDCHF as an example. Just copy it into your metatrader/experts/presets folder then drag the EA onto the chart and click the "load" button and select this preset. I save a preset file for each pair to save time re-entering the same data.

usdchf.set

Once you've set the EA up for each pair all you have to do each day is change the date and check the ADR hasn't changed too much. Best of all you can do that any time that suits you.

The EA uses the day/hour/minute combination to set the magic number (unique identified for the trade) when trading so to be safe its best to get set each trade to trigger at different times. For example, I've been experimenting with the US open time and so set 6 pairs to open at 5 minute intervals before the open.

Its a powerful EA that is very adaptable and can be used for news and breakout trading. It appears to have been originally developed for the "amazing trading system" however the settings for this system don't appear to be profitable a lot of the time, particularly in these volatile markets.

I think the SOS (Strategy of Stuart) has great potential with this EA because it makes it so easy to trade it and can be fine tuned. Some sort of filtering like "only trade when ADX is above 30" may be handy to filter out the non-trending periods. Either way the ability to move the SL to breakeven can save a lot of losses.

Lets work together on trying different setting to see what works best? Maybe I should start a new thread as this one is 40 pages already.

Again, thanks to Stuart for his bright idea and patience with us all.

Drew

HI DREW. WHAT DO YOU MEAN BY MOVING SL TO BREAK EVEN? YOU MEAN SET IT AT 0 (ZERO) INSTEAD OF 20? AND ALSO WHAT DOES NDAY - 15 MEAN?
ALSO NHOUR - 8 MEAN AND LAST WHAT DOES NMIN - 30 MEAN.
THANX

I think stupid people like me would need a manual :) What are those CTCBN and STWAN etc etc?
Indrek

There are very many choices in settings... Drew, could you teach us a bit - what all those settings mean??

Thanks! What about running it on multiple pairs?
Indrek

I had attached the EA, I'll try again...
Straddle_EA_3.mq4
ADR_2.ex4

Drew,

Please share this EA with us! I think everybody here is ready to help in fine tuning.
I do not know much about EAs but is it possible to run an EA at multiple pairs at the same time in MT4?

Indrek

Hey Drew, great stuff! Could you please give us a link to that EA that you've uploaded. I can't see it :(

Hi all,
I really appreciate the simplicity of Stuart's system and appreciate his patience and dedication to this forum.

Like Indrek I've found this system potentially time consuming, but have found a metatrader EA (attached) which does all the work for me. You need to have your PC on all the time to run it, or have a VPS setup ($25/month).

This EA allows you to set the basic things like the setup date and time, distance to enter buy and sell trades from the current price, TP and SL levels. The other features I've been testing include a "move SL to breakeven after a certain number of pips", and then add a trailing stop.

This week I've had the EA running on 3 MT4 sessions using Stuart's original strategy, but with different settings and found using the move SL to breakeven and a 15 point trail is most successful. It reduces the range in which the trade can crash on you down to only 15 points. It also reduces the profit in choppy markets, but extends it during stable trends (if you set a larger TP).

I have found the "move SL to breakeven" has turned a lot of losing trades into breakeven ones this week.

When you combine this EA with the ADR indicator the only minimal calculation to do is dividing the ADR by 4 and entering that into the EA as pips not prices. Its easy to do this in your head so there is no other recording required. I also export the results into excel for easy analysis and ongoing tracking.

If others have time to do some testing we can fine tune the settings to make this much easier and hopefully more profitable.

Drew

This system works very well when there is a strong trend at the market. I tried this system and made some profit with it but finally found out that it took too much of my time and attention. Right now, I am working out a system for trading daily charts that could better match with my other activities.
Indrek

thanx Indrek. do you have a favorite system that you are profitable in fx? if you don't mind asking. i have been struggling big time for few years now in fx and would like to finally make the money i lost in fx back. or do you think this system we are reading right now works well?
only if you don't mind i would appreciate your response.
thanx. [email protected]

To my mind, 200EMA is too much for trend management. I have used 50EMA at H1 chart and lower, 80EMA at H4 chart and 150EMA at daily chart. But I know people who use 20EMA at all timeframes. Matter of taste, in fact.
But if you are trading this system here, then I suggest setting pending positions to both directions until one of them triggers. Then close another one ASAP.
COG is of no use.
Indrek

hi Stuart.
i was wondering about the COG.
i cannot get it going on my charts for some reason, so my question is can one use the 200EMA
as a support to find out if a currency pair is trending up or down.
and if the answer is yes, for example if the currency pair is above the 200EMA, should i only buy long and not short or should i still buy both direction.
thank you very much for your time on this.

thanx guys for your help on this

Try this http://www.worldtimezone.com/
Indrek