Easy 5 minute Trading

Hi SandyBeach,

sounds good, to have a clean test of the EA. My latest version I’m working on v11 had issues with 4hr candles. Part was due to a change I made in v11. So will be interesting if v10 runs ok on less than Daily candles. When I’m done with v11, it will run on any timeframe for sure.

On the clean charts i could always run multiple versions of your EA ? For example this is what i plan to be doing:

Running v10a on each chart of: EURUSD, GBPUSD, AUDUSD, AUDCAD, USDCAD (unless there are any others you guys want me to add) ? What i can do is then when you release v11, v12 etc i could add all these charts again with each new version of the EA so you can compare them to previous versions if your worried about inconsistencies ?

I plan to only do this on the daily chart, the 4 hour chart i am curious at if it would work at all, im happy with the results we are getting for the daily chart and am worried the 4 hour chart simply may not allow enough trading time for this strategy, but were see.

Once the market starts again tomorrow evening i can get everything setup properly. Im going to run your EA using default settings, the only change will be the lots i will change to 0.01 and the magic number, each version will have a different magic number as well as the 4 hour chart demo. Im not too interested in profit, just seeing how many pips we can get. Once were happy with the EA we can worry about trading live :slight_smile:

Once my demo account is live i’ll try get an fxbook link setup so you guys can see how things are running but also so you and Mitchell can compare my results with yours to ensure were getting similar results. That will put your mind at rest with regards to the EA.

Don’t forget im off on the 15th so i may not be able to update your EA or respond to emails asap, i’ll try as were at an important step and i don’t want to lose the momentum we have going.

Just so you know the PC i will running the demo account on is a Win7 SP1 dual core PC, nice and fast with good broadband, it is dedicated so nothing else will be running on it except for logmein so i can check it remotely.

Any setup requests let me know.

You can run the EA on as many different pairs as you want on one platform with the same MagicNumber. In fact, if you are going to ever utilize the reduced risk feature, you have to have the same MagicNumber. However, if you decide to run two charts of the same pair, example two charts with EURUSD, on the same platfrom, then you will need a different MagicNumber for the second chart. I can modify the Comment to include the period of the chart, ex H4, D1, in which case, you can even run two charts EURUSD, one H4 and one D1 with same MagicNumber, and still no problem if I change the comment.
If you run them on separate platforms, of different account numbers, they should not interact.

NewNine,
I’m adding in MA filter(s). re: reference to Milchee , he mentioned EMA 60 and 120.

How are you using the MA filter? Simply fast EMA crossing slow EMA?
or do you also need one or both EMAs to be on incline/decline angle?
and do you need price to be above/below the EMA(s)?

thanks, looking for your response.

I use two 5 SMA (smoothed moving average) lines applied to the high and low to create a price channel. I don’t trade crossovers like people traditionally do. I look for a break of the price channel to confirm buy or sell. Actually, this is an idea that I got from a method by Dean Malone that uses Traders Dynamic Index (TDI) along with price channels.

Here’s a screenshot of what it looks like (the two parallel yellow lines). If the prices are within a sideways-moving channel, it shows consolidation and I avoid trading during that time. It’s a simple trend indicator.


Okay, one more thing, J Bentz, about your EA, I hope you can clarify.

I noticed a while ago that the fib lines in the EA are drawn from the candle high/low to the previous candle “close”. However, in the original method, the fibs are drawn to the previous candle “body” which, in some cases, seems to be either the close or the open.

Here’s an example that Windsor himself had posted back in 2011. Of course, the trade wouldn’t have triggered but I’m focusing on how the fib lines are drawn.


In my manual trading so far, I’ve been drawing from the wick top/bottom to the body. Does that make a difference when auto-trading? Thanks for your efforts with the EA.

Hi NewNine,

Thanks for your response.
re: the ma channel, I will add that in.
re: the fib hitting previous body, not necessarily the close, you are correct. However, I also noticed that if the body was too close, he drew it to the other end of the body.

It seems that drawing it to the close is most telling, since you are getting the move from one candle close to the next candle movement. Not sure, but I think the close is the important component of the previous-previous candle[2].

However, I can make it draw to the nearest body component (open/close), but in the cases when that is too close, not sure if I’m supposed to jump to the other side or not.

Good question, one in fact that I asked earlier on of one of the members, but it got overlooked in all the other items we were addressing.

bottom line is profit, which ever works better.

Tell me please where i can download this ea. Thanks

in a few minutes, here.

Ok, here it is, with a bunch of bells and whistles.
1 - for the original Windsor crew, the Fib values can be set in settings, so you can choose your points of sl/tp/trailing stop/BE… and you can turn off TrailingStops, to just your TP/SL, and you can turn off BE, if you want to try different opitons.

2 - it as additional filters for MACD, OsMA, Moving Average cross and angle, and 5MA Channel filter

3 - Close Winning trades or all trades on close Friday. by the way, until I get GMT automated (if I do), you must put in your local time hour that trading ends for this one - for me, its 14, because i’m in PST. you will have to change that for closing trades on Friday.

4 - the “NonHedging” boolean, if set to false, will allow trades and fibs set up in both directions as the candles dictate

5 - As notec by NewNine, I have all along been drawing fibs to the Close[2] of previous-previous candle. I now included an option to draw the fib to the nearest of the Open[2]/Close[2]. this may cause squished fib problems again, but I think its still filtered by the minimum fib pips setting.

6 - If you’re testing it on lower time frams and you don’t want it taking trades every candle, change the CandlesBetweenTrades = 0 to a bigger number.

Will be interesting to see if I screwed up anything else in the changes, as compared to version 10 or earlier. Y’all are the “Beta testers”.

Wicks_ea_v11a.zip (8.23 KB)

About trading to the close of the candle,

It was changed to that because of the way the system worked when drawing fibs between opposite direction candles, It yielded better results and was therefore kept :), remember windsor and others changed this method A LOT from when it was first conceived, it was just a change that occurred through testing.

Hi Mitchell,
thanks for the illumination on this matter. In that case, the default is to use the “Nearest Body Close/Open = true” and should be set to “False”, but the setting is there for either way now.

Dang, already found a problem with the fib drawing on backtest, opened a sell and is stuck with no tp/sl.

Forgot to mention, I threw in a blue vertical rectangle on Friday to show/remind me/us its Friday, and either CloseAllTradesOnFriday or CloseWinnersOnFriday is set to true

Just wanted to say thank you to The guys working on this. It’s really inspiring to watch your progress and even more to see you share it with everyone.

Please keep The spirit!

Peace.

Nidolap, thanks for that. I agree with you. I’m just glad Windsor shared his system so I could make it into an EA and thanks to Mitchell and SandyBeach for helping figure this EA out. I really suck at manual trading, so every time some starts telling me, hey look when this or that is here or there, you do this… and I go, ok, write it down and I’ll make an EA.

Usually, that will prove that all that hocus pocus won’t make any money. I really get annoyed (nice word) at those scammers trying to sell some manual system, that you won’t know if it works or not for weeks or months, when they know it would be easy to make it an EA and see it doesn’t work. Besides, coding is sort of fun, like getting something for nothing.

3 cheers for jbentz :P, without his wizardry we wouldn’t have this wonderfully working EA :slight_smile: currently backtesting from 2005 both 110% entry and then after my 131.8% entry theory :slight_smile:

Definitely !!! Seriously thanks JBentz, i do agree with you on all the scammers trying to sell you something c**p that belonged to someone else and half the time it never worked.

What i really do love and i do say that !! is that we know this works manually and your EA does work, plus were all here for the same thing :slight_smile:

This would be awesome, the only reason i mentioned about setting different magic numbers was so in the fxbook account you can filter trades by magic number so you can view only trades made by each EA, but that would be a useful addition for testing though.

Hey JBentz don’t forget to set this back to false in the next release :slight_smile:

Thanks

Should i stick with testing on v10a and then update to v12a due to the bug you found ? I would you suggest i go straight for v11a ?

Also the auto GMT time does sound like a very good edition if you could get it working.

thanks Mitchell. Hopefully, it will prove profitable.

Sorry for the frequent changes.

After I posted v11, had a fib/pending order issue. Tweaked some things, also changed most of the code only to update each new bar, instead of every tick, so it will backtest a little bit faster.
Also, took out the blue Friday rectangle. Figured it would annoy more people than would like it (it started annoying me ;))
Found I had forgotten to update fib labels when changing the values in settings, fixed that too.

Wicks_ea_v12a.zip (8.5 KB)

Lol now that is what i call a fast reply hahahha

Don’t worry about the frequent changes, this is normal in software development, plus your working like a Beaver, we all really do appreciate the time you have put into this project !!

Yeah, changing MagicNumbers won’t hurt anything except getting accumuled reduction in lot size with increasing number of trades.

So, here is v12, so you don’t have to wait :wink: Near_body fib was set to false.

Only funky thing about using “Auto_GMT” is it doesn’t work on backtesting, or anytime the broker server is off because, as you notice, the platform time stops ticking as soon as trading is over on Friday, so you always have to manually code in the GMT_Offset for backtesting if the timing issue is critical.

Even the way I have it, manually putting in your local time ending hour for trading, doesn’t work in backtesting.
If it is a big issue, I will add some code to “fake it” for backtesting.