Quote:
Originally Posted by scorpion
This expert advisor buys when price is above yesterday high and sell when below yesterday low. It closes the order when price reaches target net profit (5 pips ) or net loss (-5 pips) or when it's opened for 5 minutes.
Parameters and Features: - Redefinable breakout pips. (Breakout_Pips = x pips away from yesterday High or Low)
- Order lifetime = 5 minutes. (Order_Life_Mins = x mins)
- Time session filter. (From_Hour, From_Min, To_Hour, To_Min, 00:00 to 24:00 chart time by default)
- Initial stop loss = 3 pips + 2 pips spread = 5 pips net loss.
- Initial take profit = 7 pips – 2 pips spread = 5 pips net profit.
- Mini account support. (Pip_Value = 1 for Mini)
- Multiple pairs support.
Enjoys! |
hello scorpion, i request ea for backtesting data , see the link below for logical language to expert;
Advanced system #1 (Midnight setup) | Forex strategies revealed
i really need your help, thanks.
First setup a Daily chart GBP/USD....determine the highest high and the other at the lowest low for the period midnight to midnight
Entry:
If the price bar (including shadows) is less than 90 pips long we will not open new trades on the next day. (This is our requirement for GBP/USD pair, it can be changed/adjusted for other currency pairs).
If trading can be done, set Buy stop order at the top of the highest price +5 pips and Sell stop order at the bottom -5 pips.
Exit
+100 pip
Stop loss
Put your stop loss order for a Long entry at the lowest price for the day -3 pips.
Put your stop for Short order at the top of the highest price for the day +3 pips.
These additional pips for entries and stops can also be adjusted once a behavior of chosen currency pair is learned over the time.
Now, when one of the orders is filled – stay in the trade for the whole day. At midnight with the new daily bar open, adjust your orders and stops according with the previous daily bar following the same routine; keep trading position open until get +100 pips, then you may close current position to reward yourself. Rewarding is a very powerful tool, use it.
For example: on May 1st at 00:05 am, we opened a daily chart and it was a downtrend. We set our orders: both Buy and Sell according to the previous candle (April 30th). The same day our Sell order gets filled. The day has passed and the price made some further progress down. At 00:05 am May 2nd with a new daily candle appearing we change our stop loss for our current Short position according to the high of the previous bar (from May 1st) and we either continue to stay in the trade or lock in profits. Also we reset our Buy order which is now going to be just above the highest high of the May 2nd price bar.
This system also gives an opportunity to be constantly in trade and at the same time it requires very little observation and takes only 5 minutes to set all positions and forget about Forex till the next midnight. You will see losing trades with this system from time to time – it is a part of any trading, but the overall result will be very positive.
-soni-
