Need an EA that appears at the prior days Low Cost and High sets a buy order in the top and a sell order cost. With a flexible TP set for 10 pips. Also an option for monitoring prevent and stop loss. I would like for it to set the buys and sells shortly after 5pm EST.. Once either the buy or sell is shut for profit, it is going to cancel the other pending order. If the buy or sell level is struck that trading day, it will just reset for the that days Low and High.
Thanks!
Hi fireslayer. Im new to mql4 but ill give it a go. Bear with me I'm bogged down with work atm and new to mql4.
Hey Fry. Just post up if you believe you got it.
I'll break my system down to be sure we're both thinking in precisely the exact same way. Here it's when I do it
1. At 5pm EST when the market begins a new trading day. I look at the Preceding times HIGH and LOW. (from now at 5pm to 5pm the day before)
2. I place a Buy Stop at the High with a T/P of 10 pips, typically. Same for Economy Stop.
3. I place a Sell Stop at the Low with a T/P of 10 pips.
4. A Stop Loss is not set by me. Though the option should be available, in addition to a Trailing stop.
5. The price will reach the prior High or Low, the trade is going to be put and profit taken when it increases 10 pips.
Here is and example:
When the preceding high was 207.55 and also the previous low was 205.52, I would place the Buy Stop at 207.55 together with the T/P @ 207.65. I would put the Economy Stop at 205.52 with the T/P @ 205.42. If the price reaches 205.52 first, then it should make that commerce and cancel the 207.55 pending order. It should close out the 205.52 short @ 205.42 for 10 pips profit each day during that 24 hour trading day. It shouldn't create any other transactions daily and the system should reset at 5pm EST again for that trading times High and Low.... And so on and so forth.
Hope this makes things clear as mud!
Hi fireslayer. The ea is comming along nicley. So will iron out these im am just stuck on a couple of issues though. I dont believe you will be waiting much longer, just to give u an update.
That is great for me also as I am learning new things
Your EA is similar for my EA. I don't need to hijack your tread but if you're interested in looking at my EA, don't wait. The more help I get the better that the EA will be. I encourage you all- https://www.nigeriaforextrading.com/...art-trade.html
Hi derailed. Is your EA stil providing you profit? Also I believe that your ea imo is different for this. It appears a lot more complied so im not at the stage that I would have any input on your ea.
Also you say that you have a problem with it calculating 26%. It does 26? Is this? I believe that the answer to this problem would be rather easy.
Hi Fry:
The initial plan for the EA was for the monitoring stop, it would take 23% of yesterday's range. Right away a bug showed up. Where the daily range was maybe 30 pips, it would take 23% of 30 and make the trailing stop. So essentially the EA would place in around 20 orders with a stop of 7 pips. On a single pair, I counted over 100 orders set in the period of a few hours.
So to combat that, I had my programmer put in a clause that said, possibly 23 pips or 23% of yesterday's range for the monitoring stop, which was greater. Somewhere between all of the emails, we got mixed up and it does a horizontal 23 pips.
On large movement days, the 23% rule comes into play. I expect swings after large movements so if yesterday range was 200 pips, a 46 pip trailing stop is more appropriate.
This is where it becomes tricky. The EA turns the trailing stop on after a certain amount of pips is reached. But say if the EA puts in an order and heads the flip side, you have to shield you. You need to plan the EA to devote a stop as well as a normal stop.
Now here is the tricky part. Should the stop be a direct 23 pip and the stop be 23% of yesterday's range?
All these are items I've yet to find out and invite you to come join my tread. I'm not a programmer. I wish I heard C . Instead I went the biology route. Anyhow, to make things short, I tend to look outside of the box and want to apply that skill to Currency Market trading. However, in order to accomplish that, I want help. I believe that you could be a good asset.
Sorry from deviating, but it looks like your own EA is comparable to my EA at heart. It's main goal is to make the most of this plogical breakout frequently observed from when price action strategies yesterday's low and high.
Remember, things such as spread, widening distribute due to news, price jumping instead of going linear will really screw with the rest out. My purpose is to work anything out that make an EA that removes emotion and may screw together. I want a hard dependable robot EA to handle my money and conserve my capital. In the end, its an electronic number's game.
I invite all you guys to join the tread, examine the EA, play or whatever. It is all open source
I like your thinking . Im no programmer by any means. Im not suprised you paid good money for this ea since there are a lot of conditions.
I think I get what you mean when you state your not shielded by a stop loss. Im sure your programmer was capable of placing in a regualr prevent loss when price moves in your favor it should modify the order with your stop loss.
Thus lets state:
1) order is made. It works out the range is than your range limit of previous day. HARD STOP is used with this order.
2) This means you would like to use a trailing stop loss. When price moves that many pips, the order should be MODIFIED with your stop.
So your should be guarded. Im not understanding what you mean, because it has to be programmed to set a stop loss in the first order?
And sure ill join ur thread, but I have limited time atm.
Thanks Fry, I'm excited to see it when its finished!Originally Posted by ;
Fry-
My EA does put at a both a hard stop and trailing stop.
By definition, trailing stop is just turned on if price moves x pips. But before price hits x pips, you've got nothing. Therefore a stop needs to be put in at y pips.
So lets say that price hits x pips- tracking stop is turned on. When price moves in your favor, EA simplifies the brand new stop to protect profit. The initial stop does not matter since if price action fails, the new trailing stop will protect your gain.
Trailing stops protect your profit while ceases protect your funding. Anyhow, I'm glad you like my EA. Please feel free if you want, to copy any part of my EA for your EA. That would be awesome if you could stop by my tread and add your input.
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