MT4 Simple System and Backtesting

Trading Systems Expert Advisors and Automated Trading
1

Hi everyone and Merry Christmas;

I hope this is in the right section.

I have MT4 through Axitrader. I want to write a simple trading system then backtest it (probably using the strategy tester on MT4)

My strategy would

  1. open buy / sell orders at specific times e.g. the daily close or 12:00 midday etc most likely on the H1 chart.
  2. add positions if the price moves a certain distance form the order.
  3. set a take profit
  4. set a stop loss

There will be no indicators used. This is not a profitable strategy but something i need to use to compare the price behaviour of different pairs.

If anyone can help i would really appreciate it, at the moment I’m doing this with spreadsheets which is laborious!

Cheers!

2

Ea like that is fast done with graphical builder, for example fxdreema. It allows free users to make up to 10 code blocks (actually, 10 connections between them), which should be enough. Ask me if you need any help with fxdreema, I have been using it for over a year now…

Merry christmas to you.

3

5astelija;
Thanks, I’ve tried using Expert Advisor Builder from sufx.core but the fie it creates doesn’t seem to be recognised by metatrader. I’ve created an account with fxdreema and it looks good. I’m using a MAC so I have to write the EA in windows and I’m going to save on a flash drive then go across to OSX and save in the Metatrader Experts folder. Do you think this sounds ok?

4

Yeah, that should work.

5

Hi 5aselija,

Hope you had a good christmas.

I’m having some luck but struggling with something, when i have an open sell order; if the price moves UP another 5 pips i want to add another sell order as I’m confident it will move back down, if it moves UP another 5 i want to add another order etc all with the same TP. I suppose this could be done with sell limits placed at the time of the first order or by monitoring the current price and placing orders when price moves 5 pips.

Any ideas? Seems simple but i can’t get it working!

Cheers

Dave

6

Hmm, I haven’t done that myself but there are surely many ways for it. There is a “price offset” box in the buy/sell pending order block, it could work.

7

I’ll try this cheers

8

You can use a free copy of Forex Strategy Builder to do that in less than a minute. If you need an EA - it can export it directly to mt, no hassle. The program itself also has superb backtesting so you might not even need to open MT to see how your thing is doing.