If your system NEVER FAILS how can it be high risk? Logically it should then be completely without risk…
Hi sjbentz, when I backtested the ea v2 I got this message “Volume_avgs GBPUSD,M5: unknown subwindow number -1 for ObjectCreate function”. Can you please advise what is this mean and how to correct it? FYI I have very limited knowledge in MT4 programming. BTW thank you very much for sharing the ea for this trading strategy.
it’s looking for the Volumes indicator to put the avg volume lines on. It won’t affect the function, but if you want to see the avg volumes, and realtive volume of the current candle, just put the standard Volumes indicator on the chart.
Thanks jbentz. When I am backtesting the EA using the every tick model, it is taking forever to complete…every slow. Is this normal? Is there any way to speed it up?
jbentz.
Thanks for coding this EA to test…
Just wanted to make sure if there was anything i’ve done wrong, as I’ve set the EA up on a FXCM demo account, but still no trades that match Sandybeach’s MyFXBook account.
EA is on a 1 chart with WPR, & both volume average indis in the indicator folder (Volume_avgs & Volume_avgs_v3)
Thanks, JP
what is the fib used for? Is it for entry? if not what is the criteria for entering a trade exactly? Thanks, msn
All i did was use the EA with its default settings, ensured im trading 0.01 lots per trade (no risk).
Have you noticed any error messages in the “Experts” tab or “Journal” tab?
The fib is just to calculate TakeProfit at 250% line. See the first post by Windsor for entry criteria. It’s all there.
I’m pretty new to testing EAs with MT4 but I get an error in the journal as "2013.01.24 14:07:01 2013.01.22 15:54 Volume_avgs EURUSD,M5: unknown subwindow number -1 for ObjectCreate function"
Something I’m doing wrong? Only thing I changed was volume to 200 to test on the 5min charts.
Thanks!
just put the Volumes indicator on the chart
I have the Volumes indicator on the chart and added the Volume_avgs custom indicator to the chart as well and I am still getting the same error message in the journal. Is it possible I’m missing something else. The chart is EUR/USD 5 min.
can you send me a screen shot of your chart. You can skype me at james.bentz or send email to <[email protected]>
Thanks. Can you also clarify for me , what is the exact entry criteria? Appreciate your input.
I don’t mean to be rude, but why would I re-write the criteria already written in the first post. The first post IS the EXACT entry criteria.
Only difference is I do not use SAR in the EA because it will flip-flop at the wrong time and kill the trade. Simply using the Swing High/Swing Lo as stated in the first post.
I guess what I do not understand is this, is the trade taken after the cross of ma’s at end of candle when this cross occurs and is this the swing high/low? and you are not being rude. Thanks. I dont think the first post is as clear as you do.
quoted from the first post, which is very clear, IMHO.
“Wait until the Williams Range % goes into the OS zone of -80. Once it does, wait until it exits the zone and starts moving up. Next, we wait until the 5EMA crosses and goes above the 13EMA. Wait until the current candle closes. Once all those conditions are met, draw fibs from the HIGH of the candle that just closed to the recent swing low, which should be the same as the lowest PSAR dot. Set the stop loss at 350 pips, and target 250.0 fib mark for the take profit.”
You wait for the Williams Range % cross from < -80 to > -80, then you wait for the moving average to cross the 5ema>13ema from Not(5ema>13ema), then you wait for that candle after the cross to close. Then you draw the fib from that candle High to the swing low before it of the previous 20 candles or so. And you set stoploss at 350 pips, and takeprofit at 250% of the fib from the swing low and enter the trade.
same same.
[QUOTE=babypipsjbentz;444176]Windsor, I think you’ve just been lucky so far using this method. But check the EA and see if it’s matching your manual execution.
QUOTE]
James, and everyone else reading this thread, you coulnd’t be more right. I started trading my live account at -55% loss and started winning my account back to profit, had gotten it to -40% loss when wham bam as James said, hit the stop loss while I was on vacation, so I couldn’t even manage the trade as desired. My live account is now sitting at -61% loss. That’s a 20% loss with one failed trade. There goes two years of demo testing down the drain, along with 4 months of live trading 
I figured it out, this system uses a 24:1 risk/reward ratio which is totally out of whack and I should never have even considered it in my wildest dreams.
Live and learn I suppose eh.
Back to the drawing board, boys n’ girls!
James, did you get a working, profitable long term EA using the entry criteria? I’m sure we could probably tweak this thing up and use a lot lower risk and drop the martingale to get it profitable. I’m going to start working on a solution.
Another thing that was annoying, on the 5M time frame there is often multiple entries in the opposite direction, I simply picked the first trade that met the criteria and stopped trading that pair for the day. Looks like the volume indicator will help isolate and filter out the false moves from the good ones.
Keep up the good work James, Sandy and Altos and everyone else for your hard work in coding, and testing everything.
Cheers.
Hello,
Yes the same thing I have also suggested to James. We should not use martinagle system but we should use the same entry and exit rules.