Hello,
I need help creating an EA. Is there anyone here that can help?
I’ve been using PSAR (default) and ADX (default) settings (even though it is a bit redundant). I’ve had two systems with ADX crossing either 20 or 25 level. 25 provides less trades, but it is safer. I use Fibo and S/R as well, but it is hard to discuss over typing.
TF should be either H1 or H4. I prefer H1 since I like trading short-term. I like my trades lasting less than 3 hours. 3 minutes is the best. 
Long Signal:
- ADX crosses or is above 20/25 level.
- +DI crosses over -DI
- +DI crosses over 20/25
- PSAR is below the price (preferably crosses when +DI crosses)
Short Signal:
- ADX crosses or is above 20/25 level.
- -DI crosses over +DI
- -DI crosses over 20/25
- PSAR is above the price (preferably crosses when +DI crosses)
If you have other suggestions to get better results, please state them.
TP depends on each currency, but I’m usually able to get 10-40 pips.
I would like the EA to either alert me each time so I can review it, or auto-trade. I think I’d prefer an alert so that I can review it and make my own decisions.
TIA.
Just a little option. I use PSAR with 0.1 and 0.4 settings. It sensitises the balls to show possible change of trend direction earlier - I use MACD histogram at 3 -10 -16 to view how strong the trend as confirmation, but I understand PSAR may need to be tweaked further, to work on some pairs.
So, ideally, a change in PSAR ball candle should also show a histogram bar decline in the MACD trend.
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Wow. That’s really interesting. I’m excited to try this method.
Does your PSAR work on most pairs?
Do you use ADX as well, or PSAR is enough? I find it too simple, which is why I use ADX + DMI as well.
The real star is the MACD settings and relative height of histogram bars. (Many high bars and the trend is strong - many tiny bars or change of direction, the trend is weak.) As far as I’m aware using the PSAR in conjunction, correlation of a weakness in trend signals a retracement. Absolutely two insightful signals to exit the trade (if you’re winning).
The 3-10-16 MACD settings also signal entry points earlier than standard settings. Use in conjunction with your favourite price action indicator.
Wow! This is really cool! I’ve never used the MACD since I never really understood it, and also it lags so much. However, your settings are really neat! I just learned MACD to the point of understanding it much better now.
Which timeframes do you use? Do you employ the HFT strategy with your MACD settings?
Thank you for pointing out your PSAR and MACD settings!
Do you know or have an EA that incorporates this stuff?
I don’t do HFT nor have an EA. My Ichimoku 8-22-44 set up with the MACD, PSAR and 60EMA is enough to make my strategy bulletproof especially when lined up with the Daily, 4h and 1 hour charts being in synch.
Oh, and other multiple minor checks and balances - and it’s the best I could hope for when entering a trade, monitoring a trade and exiting a trade. I suppose you could call me a human robot…
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Fascinating.
Sorry for all of the questions. You strategy is intriguing, as all you’ll need to do is have each indicator saying the trend is going either up or down, and the MACD along with PSAR and, for me, ADX help with entry points.
For the MACD, is your entry a combination of divergence, crossing, and histogram change from tiny bars?
Why do you have a 60 EMA? Is it additional confirmation of trend to the Ichimoku 22?
Do you use MT4’s MACD? Which Ichimoku do you use on MT4? They seem to have 2 options.
No problem, carry on asking. I could learn from your questions. I use all my indicators rules providing the top-down 3 chart set-up is in synch. For me that’s critical to whether I place a trade or not. In fact, it prevents me from speculating.
I use the 60 EMA as another trend confirmation on the Daily chart. Always buy above the line and sell below. Maybe overkill, but it’s been a valuable friend when markets are ranging rather than trending.
I only use the MACD histogram and PSAR to suss out strength/weakness of trend. Ichimoku 2009/17 version gives me the rest.
I’m trading 13 profitable pairs on a live account on IC Markets Global MT5 platform with a leverage of 1:100. that’s profitable.
I use a demo account to experiment with the non-profitable pairs, and that’s breakeven right now…
Thank you for responding so much. Your responses are helping me learn a lot and become a better trader.
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When entering, do you have different timeframes you use depending on the timeframe? For example, do you use H4 for GBPNZD, H1 for EURUSD, and D1 for GBPUSD? You might not be using these currency pairs, but I’m just using random ones to show my point.
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Do you set any initial TP or SL, or just watch the markets to decide if you want to pull out or not?
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From what I’m gathering, it seems that your method is great for swing trading. Do you use it for intraday trading as well?
My current trading system involves S/R, Fibo, ADX, and PSAR (default setting, but yours has been found to be much better, so thank you) on H1 or below since I’ve found more success with this strategy on trades that last at most 3 hours before retracing.
I have tried your system along with using S/R to determine whether I should bother with the trend or not. It’s currently working wonderfully.
Hi.
- I use a top down approach. The daily to identify the trend and Ichimoku set up being tradable, the 4 hr to confirm same, and the 1 hr to place the trade, providing it is in synch with the other time frames. It’s a three ducks in a row lineup - and profitable. A few times I would enter on the 4hr chart if I liked the set up there.
I will only trade my 13 profitable pairs, plus any that have passed through my demo account and regained profitability. Two of which are my nemesis - GBP/USD & GBP/JPY. My rationale is that they’re not suited to the Asian market sentiment as they seem to retract a lot.
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I set a 200 point S/L and manually move it to a c.0.8% risk. I’ll pull trades out early if they’re losing, My initial aim is to move S/L to a break-even position and from there on I can’t lose, and will use a trailing T/P for winning trades.
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I intraday trade - no positions are left open. Usually my winning trades fizzle out (or get cut) within three hours, sometimes they last more if I’ve really hit a great trend.
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Yes! This is exactly how I trade already! Well, minus a few things… and consistent winners. However, I definitely want to incorporate the Ichimoku and MACD more when I’m trading. I like how they work. I think my biggest issue is finding actual trades. I think I need to play around more with this.
Have you found hours that were better than others for finding trades?
For your MACD settings, is the 3-10-16 = 3EMA, 10EMA, 16Signal?
I trade the Asian markets as I live in Thailand. It’s a bit hit and miss, with low volatility and slow price movement, although at times, I get in early in a trend that lasts through to the London opening and beyond. I close every open trade at 10 am GMT, in the main. I like to sleep easy.
MACD - yes, I think that is correct. Well done, spotting that.
But the secret of continuous and profitable trades is discipline and being patient. Hell, you could always max your risk to 1.5%, increase your lot size, and have a leaner S/L if you consider your trade is going to be a winner.
But never, ever, chase losses. I cut lean and mean if a trade goes against me before the S/L, and use the savings to fund a better trade. There’s always another awaiting. I hate losing, but I hate losing big, more. This is CRITICAL money management.
I’ve examined every trade I cut and while some do retract to become profitable, it’s not material. If you want to make money, don’t give it back to the market. Ever.
Hope that helps.
Yes, that’s true. MACD is a nice forex trading strategy that can help you buy or close a short position when the MACD crosses above the zero line and sell or close a long position, when the MACD crosses below the zero line.
You are doing a good job. Looks like you might have spent a lot of time on creating this EA. I also use PSAR and ADX indicators to find out when there is a trend and when there is no trend. This lets me know when I need to use trend following strategy and when to use range trading strategy.
Hey! Believe me MACD can be a true game changer. Been using it for years to identify the bullish and bearish momentum so that I can identify the entry and exit points for trading. Hopefully it helps you too!