Forex EA group

Hello fellow traders!

I have been trading Forex for about 4 years now and have a pretty good understanding of the market. I feel it is time to form an alliance with a master mind group of people.
I am forming an alliance with a group of people of whom I can speak to on a regular basis in our aim to develop and back test trading systems.

What I can bring to the table: The knowledge I have thus-far accumulated, I have been trading AUD/USD for 4 years now so I have a pretty good understanding of the behavior of this currency (I also live in Sydney). I am passionate about this market and I am active in the market but I also have a 9-5 job and I am looking at gaining and sharing our common passion to succeed in this game.

The sort of people I am looking for: Persistent traders who have a real drive to succeed in this market, preferable if you live in Sydney so that we can meet to discuss our common goal but not a big deal if you don’t as we can talk online, someone who can use MetaTrader 4 and who can develop EA’s.

I am looking for a group of people so if you have one or more of the above-mentioned attributes I would be interested to discuss this with you.

Our common goal: Develop, back test and forward test robots until we find one or more robots that we have developed that actually work in achieving great profits. Then we can give back to the forex community by sharing this information as well as reaping the rewards ourselves.

If you are interested please hit me up to discuss

Thank you for reading,

Ronny.

Hi Ronny,

I’m keen to participate in your forum. I’ve been trading (using computers) for more than 50 years and can bring a lot of experience to share with the group. I have developed thousands of EA’s over the years and some of my EA’s are used to manage more than $100 million for US-based hedge funds. I actively use a dozen or so of the EA’s for my own trading with brokers such as Tickmil (previuosly Armada), FXCM, Pepperstone and others. I mostly use STP-type brokers, but have recently switched a lot of my trading to an ECN account (with Tickmill).

If your group gets rolling, count me in,

Hi Ronny,

I’m keen to participate in your forum. I’ve been trading (using computers) for more than 50 years and can bring a lot of experience to share with the group. I have developed thousands of EA’s over the years and some of my EA’s are used to manage more than $100 million for US-based hedge funds. I actively use a dozen or so of the EA’s for my own trading with brokers such as Tickmil (previuosly Armada), FXCM, Pepperstone and others. I mostly use STP-type brokers, but have recently switched a lot of my trading to an ECN account (with Tickmill).

If your group gets rolling, count me in,

G’day Ronny. I believe this isn’t the first time you have tried to get this up n running. Haven’t found the right blend bro. I’m over in WA but keen to hear your ideas. All the best in 2015.

Hi Chuck,

Definately keen on getting some direction and advice from a more experienced trader like yourself. I would like to discuss the project more with you if possible. I am not sure how and where we can discuss the topic further as babypips has previously removed my comments when I try provide details of an external ‘chat’ service. Any suggestions?

Hi Bobbi,

Yes I have previously posted this thread but have had my comments removed when I have tried to get the group to chat about the topic elsewhere. Not sure how I can get around this as this forum isnt the best place for discussion.

I don’t see any problem with discussing it here. I thought that’s the purpose of these forums? Let’s get started.

Yes, if that’s OK with everyone else then why not.

So I have a few systems in mind and I have been writing them up but need to get some input on how they can be improved and turned into EAs for MT4. What I am ultimately aiming at doing is collaborating with people to create a number of different EAs for all sorts of market conditions. The one I am currently working on is based on chart patterns and I am trying to figure out a method by which chart patterns can automatically be identified through an EA.

What are your thoughts?

I am also speaking to a MQL developer who has advised me not to use indicators which ‘repaint’ such as the zigzag indicators. At this stage I am unsure of how I can get around this.

I agree that it is a good idea to take a different approach to trading depending on market conditions. There are two ways of going about it.

  1. We can develop an different EA for each type of market (trending, ranging, etc.). These EA’s would be able to recognise that it is their turn to trade and would turn off when things aren’t right for them.

  2. We can develop one EA that “senses” the type of market and adjusts its trading style accordingly. I prefer this way, as it’s much easier (IMO) to have all of the logic in one place. Also, having multiple EA’s running (waiting for their turn to come) eats up a lot of value processing time.

I have never gone down the path described in #1 above, but have hundreds of EA’s that sense market conditions and change their logic to suit. Switching from a breakout system to a OB/OS system on the fly, for instance, is the kind of thing I do with most EA’s.

I am currently doing a lot of research with a free open source EA called XMT. It has a parameter you set to “1” or “2” depending on whether you want to trade with breakouts or fade the market. I’m changing the source to dynamically set that parameter depending on market conditions. Otherwise, I need to be watching the markets and stop the EA to change the parameter. I start EA’s once and let them go for months at a time. I don’t have time to play with them.

Specific to the zigzag indicator, there is a non-repainting version that was given away by rita lasker. It can be downloaded from the forex-tsd web site. Just search for zigzagger_2_0.ex4 on their web site.

Hi Chuck,

Hope you had a good weekend. I was not aware that it was possible to create an EA which can sense market conditions like that. I must say that would make it much easier to monitor rather than having 4-5 different EA’s for different market conditions. How exactly does the EA detect these changes in market conditions? I have some ideas here I’d like to share and get some feedback on.

The EA should be able to accurately detect the following market conditions:

  • Trading ranging market
  • Trading trending market
  • Trading breakouts and fakeouts
  • Trading low volatility
  • Detecting and trading chart patterns such as;-
    • Double Top and Double Bottom
    • Head and Shoulders and Inverse Head and Shoulders
    • Rising and Falling Wedges
    • Bullish and Bearish Rectangles
    • Bearish and Bullish Pennants
    • Triangles (Symmetrical, Ascending, and Descending)

Is it possible to create one sophisticated EA which can detect all of these conditions or would it have to be split up and created seperately? If so, how do we go about doing this?

Thanks mate,
Ronny.

Hi Barnard,
Thanks, I will have my programmer look into it and give me his findings on this indicator.

hi tdbarnard,

i have had this tested and apparently it does repaint.

just curious because of the non repaint one. have you follow the indicator signal too, just got red arrow moment ago and got Sell!! signal :).



use H1 TF, but I believe it should given different signal at different time frame.
@rnaseri any finding from the programer side? these zigzag remind me of elliotwave prophet, you may want to take a look with these semi auto indicator.

Some of those signals that repaint will require you to wait until the close of the second candle.

my belief is tha no EA works cos’ market is dynamic, benefit of the doubt, 60% hit rate.

just try out these indicator, put exact name as tdbarnard mention. the only non repaint is the sell signal, I mean the “sell!” text notification. I’ve got several alert while shift the timeframe, didnt know which time frame are the best.

those indies are messed up with my platform, often crashed and hanged. no need to discuss any further this indicator are not good one, I already wipe out these file from my tickmill chart since the alert are always shown “Sell” no matter what the arrow direction shown, all entry notification are just to short. and there’s no best time frame for unproper indicator code :).