Request for Simple Indicator/EA

[neo2525]

I have an idea for an indicator/EA and was wondering if I could get some help coding it.

It would work on any time frame, probably hour

The basic guidelines are these:
1. If the order is long then it will stay long until the price drops below 50% of the previous bar. Ex. from hour 0-1 the price goes up 20 pips, hour 1-2 it goes down 7 (still no change), hour 2-3 up 14 pips, but then from hours 3-4 the moment the price drops 8 pips from the end of hour 3...then order is switched to short

2. The same is true for a short order, it will change to long once the price goes up 50% from the previous bar.


This way, the only time you are losing money it will be only 50% of what you made on the last time interval. This strategy does not work when one hour the price goes up, the the next it goes down, and repeats this for the whole day (which i have never seen)

Like I said, pretty simple but should bring in profit

If you see anything that would improve or help, please share your ideas

thanks

[ptran3014]

Hello everyone,

My name is Peter. I am looking for a profitable MT4 base trading system. Manual and automatic EA. Do you recommend anything?

[neo2525]

Does anyone still code EAs for free anymore?

[bossxero]

Originally Posted by neo2525

Does anyone still code EAs for free anymore?

The idea seems new... but have you tried it manually, i mean in manual trading.

People still code for free but very few... because in the beginning, they were coding each and every idea... but soon they realised its a waste of time because people were just throwing ideas like this without taking care of researching whether this idea is profitable or not... most coders will ask you for a proof that your system works.

[oilfxpro]

Originally Posted by bossxero

The idea seems new... but have you tried it manually, i mean in manual trading.

People still code for free but very few... because in the beginning, they were coding each and every idea... but soon they realised its a waste of time because people were just throwing ideas like this without taking care of researching whether this idea is profitable or not... most coders will ask you for a proof that your system works.

Thare are probably only 5 to 10 good systems out there , the rest of the systems are rehashed versions of the good systems imitated by every new Guru.

Better to find an existing profitable system and use the E A for it UNLESS U REALLY WANT to make better trading system with huge improvements

OILFXPRO

[neo2525]

I wrote a simple version of this program and trading from 10/07 to 4/08, investing $10,000, only risking 1 lot, I made about $23,000 profit. If any coder wants to read my program and make improvements that would be great. It is actually only working to about 50% of its potential right now because it is only taking long positions and will not "ride" the market like I want it to by takings short positions once the long close and taking long positions when the short close.

thanks

[bossxero]

Need some clarification....

About the 50% that the new bar has to cover, is it 50% of the previous whole bar? Or is it just the number of pips....

Example... Old bar is 20 pips, so if new bar is 10 pips... does it fit the 50% rule? Even if that new bar is below the old bar... or should this 50% mean the exact half of the old bar.

[neo2525]

if a position is long you will be losing money if the prices drops, so the program will switch the position from long to short once the price drops below 50% of what you have made in the last bar. So , yes the situation you described would cause a switch

[kingsley]

pls i will like to get a script or program when an open price comes out it will buy at 55pip