Mitchell also suggested a “Minimum Fib Size” setting, something like 30 pips to prevent the squished fibs. With that, I can dump the other settings of ATR and FibSize filters.
Awesome thanks, just a pity today was a loss for this strategy, but hey many more days in the month 
EA looks great though, the idea of using the 30 pips would help to simply the EA operation, plus it makes sense, if the fib lines are too close we would in theory get a loss.
Is the 30 pips minimum counting from the 23.6 to 400 mark ?
Also an alteration on Mitchells idea if we define a minimum number of pips based on distance from 110 mark to 161.8 mark instead of just 30 pips so we can get more trades even if it a lower level of profit, a profit is a profit 
.
For example if we define there must be a minimum of X pips, then if the trade hits the 161.8 fibs mark and comes back and hits our stoploss at 131.8 we should be left with a profit of say 1 pip (taking into account a spread of 4), this way we are guaranteed that if a trade is entered at the very least if the levels are hit we will be left with a profit even if it is small.
Also just added your new version of your EA v5a and it has already put in the pending orders even though it is 18.45 UK time and 20.45 on my hotforex demo server, is this normal, i thought the pending orders would only be entered just after a new candle was created so the Fibs could be auto-redrawn or will the EA draw them normally when the next daily bar appears ?
The pending orders are in the correct place, perhaps we should only allow the EA to place new orders between midnight and 00.30 so orders are not placed in the middle of the day if we start the EA.
Also might be an idea if the EA has placed a pending order for the day not to allow it to place another one if we close and re-open MT4, just in the event of laptop crashes.
Another minor thing is if someone has your EA on multiple charts like i have (GBPUSD, EURUSD, USDJPY, USDCHF, AUDUSD) the pending orders are all entered at the same time, it might be an idea to allow people to set a delay between placing pending orders incase their broker does not allow multiple orders to be entered all at the same time?
Not sure if this is an issue for anyone (not for me)
New daily candle for me is at 1700est. Depends on the broker when the new day starts.
Heya babypipsjbentz just noticed one thing in the screenshot below, we have a new candle now as it is 2200 GMT but the broker is shown midnight so new candle, but the old pending orders for the previous day is still present and has not been deleted and re-created?
I don’t mind closing the open trades manually by themselves if a SL or TP level was not reached.
One way to do it would be to have all pending orders expire after 22 hours of creation so two hours before the new candle we are ready to go or when the EA re-draws the fibs at the start of a new candle it closes all pending orders with the “wicks_ea” in its comment for the chart the EA is placed on before placing new pending orders for the next day ?
Thanks
so you guys are using 30 pips as minimum between sl and entry?
I only found one pair that follows that rule this time around, aud/usd. my aud/cad is still open
Granted this is out of the pairs I look at.
Hi SandyBeach,
The 30 pip limit is the pips between candle[1] high/low to candle[2] close, since this distance is what directly draws the fibo and its resultant size, including all the extentions. The main problem is if they are too close, you cannot open a trade with stoploss/profits too close to opening price, the broker won’t allow it. So, a stoploss might not get entered, and you have an open trade with no stoploss.
I would like to have Windsor’s input on his original intent of when the fibo trades are opened. I guess since the system depends on daily candle[1] and candle[2], it could be drawn only at change of day, on new candle, and set all the pending trades then. Should work OK. Whether to place another trade or not if you close out of one trade, is a different issue. LIke I said, would Windsor’s input. Since using this system is completely new for me, I don’t know what that “usual method” has been. For me, if I throw the EA on late, and the candle conditions are correct for opening pending trade, I don’t see a problem.
The EA will cancel open pending trades if the candle[1] switches direction and there is enough “minimum pips size”, and it will instantly open pending orders in the new direction.
As far as entering too many orders at once, its not that many, and until the appropriate orders are open, it will retry each tick, anyway. Only problem would be if the price is moving so fast, it passes the entry level before it opens. But putting a delay would only make that a bigger problem.
In any case, will post the latest version which has several simplifications/corrections. We can continue to work out the kinks as they are discovered.
As mentioned, once you load this one, and close all trades with the old trade comment system, you won’t have to change all the trades anymore. It will use same comment, magicnumber and relative chart symbol to manage the trades. As mentioned, just copy/paste the code into your running EA and compile. Should pick up where it left off (fingers crossed). As usual, take safety while testing this, demo platform, etc. for your own protection.
Wicks_ea_v6a.zip (3.8 KB)
Opps, forgot to reset the default Allow_EA_Trades to false, so it is now default to take trades… warning.
Thanks i keep having to compile your EA twice as i always forget to make this live lol. Thanks for the warning
Will let you know what i spot with the EA, the 30 pips fibs makes sense, sorry if i confused things, was just trying to be helpful
Ok good, will leave it this way. Just was worried someone would get into a trade they didn’t want to and blame me. Sort of like “Opt in” instead of “opt out”… but now its “opt out”
Does backtesting this 30 pips rule really work out?
I’ve been watching some of these, and you really could have made some money off pairs like usd/chf, and eur/usd
Until we figure out a way to quell the really short fibs not having a stop loss, its the best measure so far.
I get entered into a USDCHF trade on backtesting in february without a stop loss because of a squished feb, EA doesnt take me out of it until this week 
That’s weird. I know you would have made some really nice gains within the last 3 hours without that 30 pips deal
my aud/usd closed out at BE. I’ve been getting a lot of break evens with this, then it moves in your favor. Kind of annoying
To anyone that has been manual trading this system successfully: would be interesting if you trade it side-by-side, EA and manual, and chart the differences. That way the EA can be tweeked to better replicate manual trading. Keep me posted. Thanks. Thanks again to Windsor for the system rules.
As far as I know mitchell is manually trading. I just started easing into it a bit last month. I don’t believe we play the same pairs. I’ve gotten more break even trades than wins, or losses for that matter. I’ve lost so far using this method though.
Manually trading it, isn’t very convenient. When I go to bed I have to put price alerts on, then crank the computer speakers up hoping that I hear it. Also have to do mobile alerts with a note that says where to move sl, if I think I’ll be out.
It is a great idea. I would want to implement it in the future.But I am trading with forex-metal.com.It has many great features.
Wigglez, as I said to you on chat, late august/early september has been a bad period for this method (about the time you started), so thats probably why you are losing overall. Yes, a lot of break evens do happen, but that usually just to protect losses.
Before this period the break evens do stop more losing trades then inhibiting good trades, lets hope this period turns around soon
re: Wicks_ea, MitchellForex discovered “zero divide” error on backtesting. I had added a new lot calculation method that accounts for different base currencies, and in backtest, this fails. I added some code to bypass it during backtest, but use it for forward demo and live trading for accurage lot calcs, if you’re not USD based currency.
Wicks_ea_v7a.zip (3.88 KB)
I believe there was a moving stop EA a few pages back which will move your SL when the price hits the defined levels. Just have the EA on a couple of charts to take care of the different stop levels and you wont have to wake up
Hi Babypipsjbentz probably a bit late for feedback, but so far i was using v5a of your EA and of yesterdays trades i have:
This is with trading the six major pairs (GBPUSD, USDCAD, AUDUSD, USDJPY, EURUSD, USDCHF)
[B]Yesterdays Trades:[/B]
AUDUSD + 5.1 Pips
[B]Todays Trades:[/B]
GBPUSD + 0 (BREAKEVEN)
ERUUSD + 6.0 Pips
USDJPY - 12.3 (CURRENT OPEN TRADE AS OF NOW)
Looks interesting i have to say, considering i get about 60% of the spread back from hotforex i would of gained 4 extra pips on top of the above trades, so about breakeven at the moment, but i think this is just the markets being a bit slow at the moment rather than a problem with the EA or strategy.
Got to say your EA really does help trade this system nicely, i do like these simple price action strategies.
Also i noticed your EA comments which have appeared in orange and blue, i think the orange is more readable at least for me.
[B]About the v7a EA a few comments:[/B]
Also one thing that might be useful to add to the EA is a max spread setting, might help to keep us out of rare circumstances of the spread jumping high. Even if we have the default spread set at say 4 or 5 pips, just as a counter measure against weird circumstances.
Also what might be useful is to have a message on screen on the left saying something like “No Trading Today Fib lines too Close”, it would help to stop people posting saying the EA was not working properly when it is and this was the issue.
Thanks for your hard work on the EA, looks great Will let you know how i get on with it.
[B]Other Comments:[/B]
What i would like to know from Mitchell and those others who are trading this strategy is what pairs are you trading this strategy with ?