Congrats on 40 pips plus 20, plus another 20 or so from trailing stop being hit…I was right about the inside bar stuff. Reality is dawning on traders with big accounts that the Euro was at the top floor and the elevator is now going back down. Since I put a time limit on my trades, no more pending orders will be entered.
hi guys,
the EA is working fine for me now.today made a nice profit. thanks crisscross. hope you can implement this option, that after BE, I can move SL to ± pips instead of the entry level.Would help on ECN broker. Also it is possible to delete only the running and pending orders which are made by this EA at London opening hour:58 not all of them.
I am trying the EA with few different setting at the moment and I come back with the results on the weekend.
Hi criscross , i was testing the EA on AudJPY and everything was fine until i noticed that ea placed only 1 buy stop order at 82.945 that when price is trading at 80.00 level.
Sp to summarise it placed all 3 buy/sell orders correctly at the correct time 
but it keeps on placing this order roughly 300 pips above today’s trading price and when ever i delete the order the EA places it again. I even switched to ask before placing order and its first asks me to place order if i decline and close the window after 30 sec its asks me again. If you need and logs or what ever i can do to help you to resolve this problem, please let me know.
One more question to ANYONE who can help. When we place BE value in the EA say at 200. Does that mean price has to move 200 points in the desired direction before the EA will modify the order and move stop loss to entry price ? For example, Lets take EUR/USD, say we have a buy stop at 1.3000 level and our BE value is set at 20 pips, price reaches 1.3000 and then goes all the way to 1.3020 level, my question is will the EA now modify the order and move stop loss to 1.3000 level? WHAT if price goes past 1.3020 all the way to 1.3060 level will the EA move the Stop Loss to 1.3040 level? How does value setting for trailing stop loss come in to play? I mean do they interfere with one another?
Many thanks in advance
hi all,
How to set the london time when server time is 1100 = london time 9am.
please help.
thanks
If server time is 11 when its 9 gmt then all you need to do is leave it as 11. HTH
Today had a loss, followed by 20 pip TP, and trailing SL hit on other two trades at about 6 pips positive…netting a slight loss.
I had a same today. I am thinking to change the stoploss to 15 pips.
Hi there,
Am I reading thi right??
It’s 4 pips profit at the top and 7 pips profit at the bottom??
Is that correct??
that is correct for that part. Top is carved out for the spread on a bid chart.
I am no longer trading with that first part.
i think i will continue to trade the first contract as well as the second contract that way i will still be in a profit for days like today i netted a small lost almost BE you could say well tomorrow is another day
Hello KillerNo,
Yes, I understood. I will call the variable as lockinpip as it is locking in predefined pips of profit when price reaches BE level. I have added that into the EA and attached is the new version. If you set the LockinPip=2 pips then when price reaches BE level it will move SL to OrderOpenPrice+2pips for buy orders and OrderOpenprice-2pips for Sell orders. This can be programmed and best value can be found by backtesting & forwardtesting.
Let us know after backtest how the EA is performing. I have been running it on demo for the last 2 days and it has been placing orders properly. Pipcompounder-> what is your experience?
Maybe we can add a limit function such that if the reference bar is more than 50 pips then the EA will not place any orders as risk can be very high. or as i previously suggested maybe have a maxSL of say 30 pips.
Let me know what you think.
I take this msg to explain a few variables in the EA:
- The text variables dont have to be modified. They are just used as a heading so you understand what is coming below.
- LockinPip < BE < TSL. The EA is programmed to accept values like this. It will not check if you enter invalid numbers. Pls take care.
- RefPipHigh & RefPipLow will add values to the ref bar as KillerNo had asked. I am yet to backtest with these two variables. So by default I have set it to zero.
If there are any other doubts let me know I will be happy to revise the EA. I havent had time to backtest it thoroughly. Am planning to do it this weekend.
Safe Trading
Hello All: I found an error with the EA. So i have attached at page 20, post 52. Please use from there. Thanks
hi crisscross1983,
thanks mate, that will be excellent now. I am going to test it forward and coming back with the results within few days, but I need few more days to see it clearly what are the best setting. Looking good so far. The limit function is a good idea I think also a new switch (true/false) that if is true we can add manually SLs for the pending orders (SL1,SL2,SL3), if is false EA will use the ref candle high/low for SL would be nice as well.
One more question at londontime:58 minutes EA closes all running and pending orders. At this time EA closes all running and pending orders or only thoose which are opened by the EA earlier?
thanks again mate
Below detailed explanation:
1 I have removed the MagicNumber field as it does not require user intervention. This will avoid confusion.
2 Text 1 = Heading describing the variable below it. No need to change this text.
3 DistBuy = Distance in pips which the EA will use to set Buystop order. Default value is 30 (which is 3 pips for a 3/5 digit MT4 broker). Thus EA will place Buystop order 3 pips above ref bar High value.
Text 2 = Heading describing the variable below it. No need to change this text.
4 DistSell = Exact opposite of DistBuy. It will place SellStop order 3 pips below ref bar low if the default value is 30.
The above two variables will have to be set by user based on their preference. Pls check your MT4 broker digits. If it is only 2/4 digit then you will have to set this value to 3 instead of 30.
Text 3 = Heading describing the variable below it. No need to change this text.
5 RefPipHigh = This variable added on KillerNo’s request. If you enter 1 pip as the value then it will add one pip to the London open hour reference bar high.
Text 4 = Heading describing the variable below it. No need to change this text.
6 RefPipLow = This variable added on KillerNo’s request. If you enter 1 pip as the value then it will substract one pip to the London open hour reference bar low.
Text 5 = Heading describing the variable below it. No need to change this text.
7 LockinPip = This will lockin pips when price reaches Breakeven level. For eg. Buy order triggered at 1.3000. You have set BE as 10 pips. Once price reaches 10 pips profit, your stop loss will be moved to 1.3001 if you have set LockinPip = 1pip.
Text 6 = Heading describing the variable below it. No need to change this text.
8. TP1/TP2/TP3 = take profit levels
9. TSL = Trailing stop level
10 BE = Breakeven level
11 Lots = Lot size
12 Slip = Slippage
Text 7 = Heading describing the variable below it. No need to change this text.
13 LondonOPenHour = Enter server time of London open hour based on your MT4 platform time
Text 8 = Heading describing the variable below it. No need to change this text.
14 StopPlacingOrder = Enter server time of in hours when you want EA to stop placing orders.
For eg: My London Open hour time is 03hrs according to Oanda MT4. So LondonOpenHour = 3. I want EA to check price and keep setting pending orders until end of London trading which is 11am(Oanda server time). hence StopPlacingOrder = 11.
Hopefully the above was useful.
Safe Trading.
Please use the below EA. This is the correct one.
Hi KillerNo,
I found an error in the EA that i attached previously.
The correct version of EA is attached in post 52 as LONDON Breakout v1-2.
Please download it again.
Thanks
Safe Trading
Hi everyone,
If I plan to open a live account solely for Statistical London Breakout Strategy, how much do you think is the minimum amount to efficiently take advantage of the strategy? Leverage? Size of lots for each of the 6 trades?
Thanks in advance and apologies for the noob questions. I am currently going over the school now but just couldn’t make up my mind.
hi crisscross,
it looks like still something wrong with the EA, it is placed only one buy order with wrong price, and keep getting error messages like that:
12:11:57 London Breakout v1-2 EURUSD,H1: invalid price for OrderSend function
12:11:57 London Breakout v1-2 EURUSD,H1: Alert: Sell order #3 can be set
12:11:57 London Breakout v1-2 EURUSD,H1: invalid price for OrderSend function
12:11:58 London Breakout v1-2 EURUSD,H1: Alert: Buy order #2 can be set
12:11:58 London Breakout v1-2 EURUSD,H1: Alert: Buy order #3 can be set
12:11:59 London Breakout v1-2 EURUSD,H1: Alert: OrderstopLoss = 0.00000000
EDIT: I think I found the problem after RefPipHigh and RefPipLow *Point is missing
This morning looks really good, but I had weird problems with EA…I had tried the v1-1 version, but the buy stop order put a price of 41.28~ instead of 1.28~…the 4 is keeping the order open…will this be fixed if I download the latest version? Or is this something on my broker’s side? The backtests had better results with this version…780 pips for Sept. vs. 480 pips for previous version.
EDIT: My broker received orders with 41.28~ price, so somehow the EA put that 4 in there.
Hi ChrissCross,
I just wanted to really thank you for taking the time to explain in detail modifiable fields in the EA as well as the EA it self.
Depending on how much you want to risk. Risk only what you can afford to lose. Also Ea is still in progress and if you start trading LIVe with EA now you could potentially end up losing money. Demo the EA first. Depending on your account size you can calculate the lot size based on your risk tolareance, generally no more then 2% split in to 6 trades. So demo it if you a profitable for some time then perhaps invest in a live account to be traded by ea. OR you can do it manually for time being as well as using the EA in demo first .
HTH
60 pips TP, + in bag, is what it should be for everyone…
Crisscross…thank you very much for updating the EA to everyone’s requests…
the only thing I’m looking at is someway that when the BE SL is hit, that the price at that moment is within the reference candle, so that a pending order is immedietly placed, so that should price breakout again, it carries the trades with it. It seems price likes to retrace to barely touch the BE, which then doesn’t allow another pending order to be placed, so the price goes away with no trades attached-like this morning for me (although that was because of the “4” in front of the price). I would be willing to accept a small loss to make this work-for instance if the SL was moved to 1 pip + spread on the negative side of the entry price, then if it was hit, I would lose about 3 pips, but a pending order would be immedietly placed again, and if price went back to breaking out, it would reopen the trades, and the resulting profit would far outweigh the loss. This would also allow a very close “pips for SL to be moved to BE-3pips” setting, which would make the initial SL far less likely to be hit. I think backtesting this for a small time period for maximum modelling quality would make it possible to tune this distance, and overall it would greatly increase profitablility. Does it make sense? Ask me anything.
EDIT: my idea would be like having the lockin BE SL at a negative pip value, is something I can modify myself? thanks.