I’ve traded USD/CHF and/or EUR/USD , GBP/USD, AUD/CAD, AUDUSD and USDCAD with very good results and are my favourites.
While both EUR/GBP and USD/JPY have had its ups and downs, and sometimes I get frustrated with their pip values, etc etc.
Yeah I know, its my fault. I haven’t made the switch to mt4. Using tradestation at the moment
The day previous I lost 51 pips with aud/usd
today I broke even. It hit 1.618 fib so quick I couldn’t have caught it unless I was sitting right at computer.(really should get mt4, hehe). So I broke even with aud/usd today.
So today, aud/cad, usd/cad, and aud/usd broke even.
Take a look at MT4 with the EA, i know its a work in progress but i think its pretty spot on and we have a great developer who is building it 
Thanks !!
My USDJPY trade failed at a loss of 26 pips, but to be fair i would not normally trade this pair, i only stuck it on my charts just to test the EA, so i have swapped it for your AUCAD. Im happy with the EA and this strategy, the EA just helps me to trade it as im working during the day and it really does simplify doing the setups. But that does not excuse us for not paying attention to what happens in the market !
Mitchell have you tried running the EA against your manual trading of this strategy and how does it perform. Out of interest also how long have you been trading this strategy? Apart from the last few weeks are you finding this quite a nice strategy to do ?
Also do you think this strategy could work on the 4 Hour charts or the weekly charts?
He wants somebody to do the manual trading to compare. With my schedule I don’t have a problem with manually entering. It’s the managing the trades once they’re entered is the problem. That EA that moves sl for you, i should look into
The move stop SL does work well, i have been using it, i can’t see any difference from the EA and trading manual at the moment, but im only manually trading on GBPUSD. Take a look at it, i did have the move stop EA on 3 charts to manage the different levels, and i could walk away and leave the trades to do their thing.
wigglez, TradeStation is programmable. You can build yourself a trade manager with a little practice.
sandybeach,
thanks for the feedback. Sounds like it’s got promise. Good to hear.
Re:your suggestion about comments when the fib it not trading, v7 already has that. It should be visible whenever there is no fib on the chart. There will be a note in upper left corner. Also, you may see, for example, a long fib on the chart, AND a note that says no shortFib, its less than min pip settings. That happens when the candle[1] has switched direction to short from long, but not enough to draw new fib and make new pending orders.
MaxSpread setting is a good idea, and easy to do. Will add it.
Wicks_ea_v8a.zip (3.92 KB)
Im using v7a of your EA at present.
Im not sure if this is a bug or not or normal, but i got these entries so far:
2012.09.05 22:00:25 Wicks_ea_v7a AUDUSD,Daily: zero divide
2012.09.05 22:00:25 Wicks_ea_v7a GBPUSD,Daily: zero divide
2012.09.05 22:00:25 Wicks_ea_v7a USDCAD,Daily: zero divide
2012.09.05 21:44:19 Wicks_ea_v7a EURUSD,Daily: zero divide
Also so far it is 0200 on the 6th and there are pending orders appearing so far, not sure if i have misunderstood the EA as i thought this is how you had it setup unless you are having the EA enter trades when the 110 Fib line hit instead of placing pending orders ?
Either way is good for me.
I do think your EA is at the point where it shows real promise as unless there is something i can’t spot it does look like its doing what we would be doing if we traded manually. Great work by the way.
Im going to stick v8a on my charts now.
Will let you know how i get on, also what were the differences between v7a or v8a apart from adding the max spread?
Ok stuck v8a on my charts and instantly the pending orders got placed straight away for those meeting the set criteria. How odd, will let you know what happens tomorrow evenning for the next set of trades.
Also what about adding a max slippage setting? Same reason as for the max spread.
Great work !
Yeah, I haven’t looked into it though. I know a bit of programming, but not much.
I put entry orders in for aud/usd, aud/cad, and usd/cad.
usd/chf fib was only 10 pips, so I’m sitting that one out, and I save eur/usd, and gbp/usd for a method i’m using during new york session.
is the GBPUSD and EURUSD not working too good for you with this strategy ?
Don’t know, haven’t tried it. Just saving those two pairs for something else i’m working on.
Actually, i’ll do mock trades on them with this method.
Just to add for now, It seems like all the pairs that dont have the usual 1.234324 or 0.982342, ie any of the Yen pairs or commodities do much better with a Minimum fib size of around 80-100.
The usually pairs like majors or some aud crosses etc etc, do pretty well on around 30-40
my aud/cad was stopped out at 1.618 fib for 9 pips and .53% gain.
It was tempting to take it out at 200 fib
Hi SandyBeach
hmm… thought I fixed the zero divide issue with v7. Was that on backtest, forward demo, or forward live?
Re: slippage, I can put an external setting for slippage, if you want, but I don’t think its worth the time. Slippage is default 3 in most EA’s. That is also what I have set it for. If the slippage you’re getting is more than that, you have to take it up with your broker. Slippage isn’t usually an issue, unless your trading the news, in which case some people get screwed with slippage of 10, even if they have specified only 3.
Let me know about the divide error, it started after I changed the lot risk calculation code in v6, but was supposed to be fixed in v7. If it is continuing, then I need to look at that code again. Let me know if you really want a slippage setting in the inputs.
Mitchell, is that a typo or does your broker have 6 digits?
Also so far it is 0200 on the 6th and there are pending orders appearing so far, not sure if i have misunderstood the EA as i thought this is how you had it setup unless you are having the EA enter trades when the 110 Fib line hit instead of placing pending orders ?
SandyBeach… I don’t understand what you are saying in this part… The EA was changed from originally using market orders when price hit 110%, but I changed it to using only Pending orders, since that is what you are all familiar with in your manual trading.
If the pending order was on the chart before the price is at 110%, and then the price hits 110%, the order should fire; however, if you just put the EA on the chart, and the actual price has already moved beyond 110%, no order will open, because MT4 is trying to set a buystop order for a price that is already passed. It will just throw an error, and do nothing.
Once the pending orders are in place, its up to MT4 to carry out the action. The EA is not involved with the transition from pending order to actual order. And, once the pending order becomes an actual order, then the EA is just moving the stoploss up as the targets are hit.
Hope that clarifies somewhat.
Just making an example 
notice how theres so many 234’s in the numbers 
No kidding? Maybe that’s another system 
See a .234, take a trade!
This “update” is not to fix anything, just to add clarity to the comment to the effect of “… the price is past the entry…”. I added in the numbers so you can see. On Pepperstone, there is a 2 pips stoplevel, so if the price is within 2 pips of the “entry”, MT4 will not allow a pending trade. So I included that info into the comment when a pending trade won’t setup so you can see the actual numbers.
Wicks_ea_v9a.zip (4.08 KB)