Hi…is there anyone still trading using this EA? I have been following this thread. I need some assistance. I have attached the EA to the H1 chart but when i press F3 the global variables inputs are blank. Am i doing something wrong or am I supposed to manually enter all the parameters? Regards.
Hi!
The EA is quite old, but can still be used for testing purposes. I don’t know how effective it will be at the moment as the version I currently use has long surpassed the version available here.
As for the Global Variables (F3), there is no need to manually create them. They should be created automatically the first time you run it (attach to a chart). However, if that does not happen, then most probably something is wrong.
Since, it is old code and MetaTrader has since evolved (newer versions), before attaching it to a chart, first make sure that it is compiling correctly without any errors.
If it does compile correctly, then next familiarise yourself with it first by running it in the Strategy Tester.
If after that, if you still have trouble with it when attaching to a chart, verify that the “AutoTrading” is enabled (green) and that Live trading is enabled in the properties.
Thank you for the quick reply. I have enabled automatic trading and the EA has a smiley:-). I am able to run the tester though global variables is still blank. Could you be kind enough to share your updated version? Could be the previous one is not compatible with the updated MT4.
Much regards,
Mary.
Also,how do i check whether the EA has compiling errors? Do i check for that in the journal of the tester?
Regards,
Mary.
Right-Click on the EA name and then choose “Modify”. When the MetaEditor opens, then click on the “Compile” button at the top. Then look at the output at the bottom in the “Errors” tab.
If there are any errors, post them here.
Sorry, but the newer version is private! A lot of work went into it and also, it no longer resembles the simplified strategy described on this forum.
Description: DayBreakTrail.v1.013.mq4
’stdlib.mqh’
'stderror.mqh’
0 error(s), 0 warning (s)
Kindly assist me on how i can still use this old version on a live account. Am very desperate. If only it can be compatible i can still use this old version.
Regards!
I just did a quick test on my own system and attached that very same version and there was no problem. The Global variables were immediately generated as soon as it started.
A few questions:
- Who is your Broker?
- What currency pair are you attaching to?
- What is your MetaTrader Version/Build?
- When you attach the EA, does is display its status (name, spread, S/L, etc.) in the top/left corner?
- Are you making any changes to the parameters or are you just accepting the default values?
Also, can you please post a screen shot of the chart, after attaching the EA as well as a screen shot of the F3 Global Variables dialog box?
[B]One more thing! Do NOT use this on a REAL account, until you are fully aware of its workings and have done enough testing to know that it is working correctly as well as being profitable on a DEMO account.[/B]
I am using templerFx
I have attached it to Eur/usd,gbp/usd,usd/jpy and usd/cad.
My my4 version is ver: 4.00 build 840
The only display on the chart after attaching the EA is the name of the EA. There are no other displays.
I have not made any changes to the parameters.
Still checking how to upload the screenshot…
I had lost internet connectivity that’s why the global variables were not loading. It’s loading properly now after restarting the connection. Thanks a lot. Do you think it can still be as good as it used to be back then? Looks like it’s still compatible and can work just fine. Your thoughts?
Your guidance and patience is incredible.
Regards,
Mary.
Yes, it does but you will have to adjust the parameters for your Broker (especially the TimeZone) and trading conditions such as Spread and Slippage.
I’ve attach a Strategy Report for 2015 using Dukascopy Tick data and the EET Time Zone (RoboForex) on EUR/USD with default parameters.
DBT2015.zip (26.6 KB)
Thanks so much for this. I did some testing but got terrible results. I had set the parameter for time zone as -1. I will try to change the parameters as advised above.
Regards.
My broker’s timeframe is GMT+2. What value should i put on the timezone settings? Seems the -1 isn’t working.
Are you back testing with real tick data or just using your broker’s data feed?
If you are using your broker’s data feed (or even data from MetaQuotes), then you will not get good results.
[ol]
[li]That data only has M1 granularity which is too coarse for reliable back-tests of this strategy (especially at a 5pip trailing stop).
[/li][li]The broker’s history data downloads may be very unreliable and have many gaps in it.
[/li][/ol]
So, in essence learn to collect real tick data and generate good quality HST & FXT files for the back-tests. Use for example the “TickStory” application.
[ul]
[li]Tickstory – HIstorical Data & Resources for Traders
[/li][/ul]
When generating the FXT files with “TickStory”, make sure you use the correct parameters and time zone settings and that you set both your FXT and HST files to “read-only” to prevent them from been overwritten by broker data.
Setup, a separate MetaTrader installation, specifically for back testing, so that it does not interfere with your real DEMO or LIVE trading installations.
As for the “Open Hour”, according to your broker’s details, its time zone is EET/EEST (UTC+2/3 because of daylight savings), However, the best value for this parameter is not just dependant on time-zone but also on the sessions times that most affect the currency pair in question.
[ul]
[li]For EUR/USD and EET/EEST, the best open hour is either “23” or “0” for best results, but “8” can also work well.
[/li][li]For GBP/USD and EET/EEST, an open hour of “12” is best but “22” also does well.
[/li][/ul]
Ideally, once you are back-testing with real tick data, you should run an optimisation run on the “Open Hour” and see which ones work best for the Currency Pair in question.
I am backtesting using metaquotes historical data. I will try to get the real tick data and test again. Also,my broker has a stops level of 5 for eur/usd,gbp/usd and usf/jpy. Does that mean a take profit of 5, stop loss of 5 and trail stop of 5(default) will not work properly with my broker? The spread varies from 0.5-1.4 so I am testing using a spread of 1.4. It’s a 5 digits broker.
When running the Strategy Tester, make sure you set the testing Model to “Every Tick”. Don’t use the “Control points” or “Open prices only” models.
With a stop-level of 5pips, theoretically you could continue to use a stop-loss and trailing stop of 5 pips. However, the spread and slippage will have a real-life affect on the strategy so you will have to compensate by increasing the stop size to probably 7 pips or so. Run it live on a DEMO account for a week or so and see how it is affected!
I am using ‘every tick’ model when backtesting. Will forward test on demo and see how it goes. Last question please…(will sound dumb but it’s confusing me!). The stop loss,take profit and trail can remain as 5 pips but it’s recommended that i set the stop minimum pips to 7? Is that what you mean? Or should i set all the parameters in the stops management setting to 7? There is a stop minimum pips and soft stop loss pips. Should the two have the same setting,7pips in this case for example or should stop minimum be set to 7 then stop loss remain as 5?