High/Low Breakout Scalper

[Correy]

Thread quiet for a long time....scorpion are you still here? Any further progress on this EA?

[topcat275]

any one have a favorite scalping system they could post. thanks

[abgcompu]

I did a backtest on the original EA all were lost trade. NO positive.
So if we were to do everything backward, can this be a winner??):

[emmaowu]

Hello Scorpion,

Please, will it be possible to make an EA that will look at the previous Bar high and low, and place a pending order on that bar on any time frame it is put.Eg if it is put on the M15 or M30 chart, it will look at the previous M15 or M30 bar formed and place a pending order at the high,low .Thank for the great work.

[piprunner2000]

My friend, that is exactly what the current EA does. You only need to run it on whatever chart timeframe you are looking to trade and it will always look at the previous candle, it doesn't matter if it's 5 min, 15 min, 1 hr, etc. The same rules apply. When you run your backtest, just look at the backtest chart and it will show you where the backtester made the trades.

[piprunner2000]

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!

I don't know if I quite understand the Time session filter feature. Let's say I want the system to operate between the open of the European markets at 3am EST and the close of US markets at 5pm EST. How would I reflect that in the time session filter? Also, is there a possibility of you adding a feature that will make the system only trade X number of times per session. So that if I didn't want the system to take more than 1 trade per day, I could set the # of trades to take at 1. I think I can make a tremendous amount of pips using this system by setting it to take a trade at the opening of the European session, but only taking one trade so that either the take profit is hit, stop loss is hit, or the trade is closed at the end of the session manually. I would then Martingale my losses.

thanks for the help.

[murillo2004]

Thamk you for the system indicator

[sonyirwana]

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-

[mrttas]

I've been forward testing a similiar system for about a year, but I couldn't get this EA work for a backtest. For some reason, it is not opening any trade in the backtests.

[anointed]

Hello All

Anybody familiar wit an indicator that plots a line at the daily highs and lows on metatrader

Thanks