New Idea on EA [Keltner Breakout]

[cheezehead]

This might work. I learned this from a Forex class, and the teacher showed us this technique. Its relatively simple.
Attached is the Keltner Channels indicator. Basically, when the currency crosses the top channel, you buy, and sell when it crosses the top channel on the downside. You sell when it crosses the lower channel to the downside, and buy back when it crosses the bottom channel to the upside.

If someone can program this, I would be happy to back test and forward test.

thanks,
Cheezehead

[scorpion]

Ok, i'll put this in my to-do programming list.

[scorpion]

Ok, here you go the Keltner Breakout 1.0.

Below backtest graph is from March 2005 to Aug 2006 attached on M30 timeframe using 1M-tick model. I set Extra_Pips = 16 to filter out noises. That means the price must breakout 16 pips from channel to enter order. Different setup may make this one holygrail!

Try it out!

[cheezehead]

UR Awesome. I will put it on test tonight and let it go through the weekend and then post results.

thanks,
Cheezehead

[scorpion]

Yup i'd like to see some results.

[cheezehead]

Scorpion,
Something is weird on the SL. On the strategy tester, I set the SL to 15 and I still found trades that were closed that were over 100 pips, instead of 15. Any ideas on this?
Look at Trade 7. It sold at 1.8355, but then closed at 1.8429. That is 74 pips before it closed.
I think if this can be fixed, then it would look much more promising.
The next big loss was #15, sold at 1.8334, then closed at 1.8435, 101 pips.
I will keep looking at other settings. Let me know if you find anything.

[scorpion]

SL is not guaranteed. When market is moving extrememly fast (70 pips in 20 seconds), SL never hits.

[scorpion]

Oh, set SL_Mode = 1 for fixed-pip model. Same applied to trailing stop, to enable it, set TS_MODE = 1.

[cheezehead]

That worked! Thanks! I will back test and optimize it and see what I can come up with.

[cheezehead]

Im seeing that the EA is buying too late. Is there any way there can be a check on where the currency is at and compare it to the top or bottom of the channel and then buy or sell, depending on if the currency is at the top or bottom of the channel? It doesnt look like its checking, unless that is why you put the Extra Pips function in...