Greetings, I can safely say Macfibo have been more-or-less popular system and as any system threads it will eventually demanded for an EA. Apparently, some trader thoughtfully spend their time designing some indicators that will help traders to be more objective and so.
Any discussions of purely Macfibo EA should be discussed here. Thanks.
[B][B]I as MACFIBO SYSTEM creator will not hold responsible any profit or losses incurred from using any versions of Macfibo EA that are posted here or any other websites, whether it is in my knowledge or not[/B][/B]
This is an indicator, add it as an indicator and the lines will appear as promised, very interesting indeed. Can’t wait to try the strategy on tuesday.
Looking at your indicator which looks amazing, i have never seen a system which looks great made into something so elegent and simple to the eye, i think your EA could be quite profitable, lots of trades even just scaling 1 pip a time, that would be enough for me
Great work, got to read all 117 pages of the main thread and catch up lol. My sunday job lol
As promised, I upload some videos where you can see the operation of the EA that I’m developing based on Macfibo.
You have to understand that this EA is not related to the author of the strategy, if the EA does not comply with Macfibo rules is my fault. However if the EA finally works as expected, I have to thank the author of the strategy.
In this first version (0.3) I disabled the detection of support / resistance, because EA does not know yet how to evaluate them. At the moment there is no filter (market hours, news), but it is well to begin to see how open and close trades.
I have still not clear whether I will share the EA or not. There are hundreds of heartless EA vendors have stolen and sold as their own work (even steal free EAs and sell by 30USD), and that’s something that was not going to happen to me. If you do not believe me about evil vendors investigate forex combo system and TFOT, or search for EAs on ebay. Furthermore, this EA will not work for anyone else, because I’m thinking of connecting to a mysql database of supports and resistances to try to improve the decisions of the EA.
Examples of trades (all in open-bars visual backtest, the EA works only at open bars so it is a valid test by now):
This is not reliable yet, I have only 30% of the implementation. If I publish it now you lose money. The strategy is not implemented, and I guess I will take at least another week to finish at 80%.
And I don’t know yet what I’ll do when I finish the programming if I get positive results.
I will be posting comments about the evolution of the EA, and what I guarantee is a comprehensive analysis so you can work with the confidence that comes from knowing that the strategy is long term profitable.
Anyway, you can take away from your head the idea that an EA, no matter how good it is, you have insured earnings. We must be psychologically prepared to withstand times of drawdown, you’ll need a lot of confidence and knowledge about the strategy that the EA runs.
Are you creating this EA using sufian’s version 1.2 or just the basic version 1? As sandybeach suggested keep posting your progress and members of the macfibo thread and this thread may be able to helpout one way or another… I believe this will be a great EA.
This is the bad side of MA-based systems. It produces a lot false signals that dissappears in the next bar.
See the following images to better explanation:
If you look carefully you will see that there has been a cross (covered by the yellow MA).
At this time the MA Cross dissapeared, an additional bullish cross opens another extra trade.
When I can I’ll try to add a volume filter (only trade when tick vol of previous bar is greater than the 50SMA(Vol)) to attempt to avoid this. But it also happens when there are high volume.
