thanks for your effort crisscross1983. I have choosed today the 7 am. candle as a reference ( one hour before London opening). I had no loss + 60 pips with this SL moving strategy. I was doing it manually. Obviously we have to adjust the SL. The maximum SL is for me 15 pips but with maxSL function we can do it easily in the EA. Can’t wait to test the new EA.
I am using 20 pip TSL1 and 25 pip TSL2…price shows if I had used trailing stop of 16 pips or less, the trailing SL would have been hit.
anyone who is trying to use a different candle for reference candle only has to change the server time on the EA to that candle.
Hi, I’m hoping someone with MQL4 knowledge may be able to help me resolve a compiling problem I am having
with installing the London Breakout EA.
I’ve been following the London Breakout thread for a while and two weeks ago I downloaded and installed the London Breakout MQL4 file in the Experts directory of MT4.
When I compile,the Compiler runs and generates messages… ‘‘Compiling’’, and ‘‘no errors’’, but there is no .EX4 file
either in the Indicators or Experts folders.
I’ve been through the process several times in the past week and after many hours, still with no luck.
I would really appreciate any help anyone can offer me.
Thanks in advance.
Hello Sawtell,
Find attached v1-3-1 of the EA in both mq4 and ex4 format. The problem you have mentioned is very strange. But a few things come to my mind. maybe it will help you find the problem.
- Restart mt4 and then try.
- If you have more than one mt4’s running (for eg 2 or 3 brokers) then chk carefully which broker’s metaeditor you have opened.
- You can copy paste the attached ex4 file in your experts folder and then restart mt4 to see it in your experts box on the left side.
- Try to compile the attached mq4 file and then restart mt4.
If none of this works then uninstall mt4 and reinstall again. But i think it must be some loose issue that you are overlooking.
All the best.
London Breakout v1-3-1 MQ4 and EX4.zip (25.8 KB)
Todays sell hit 20 TP, and Trailing SLs for about 80 pips total profit. My EA is set to stop placing pending orders at 5 hours past london open, so no sells will be opened, although price has come back down out of reference candle…buy stop trades still pending…FOMC news today from FED…could move markets as this is the last FOMC before election.
Hello KillerNo,
The EA revision with your idea is still in progress. It is giving errors during backtest. I am still working on it. Will try to finish it by the weekend.
Pipcompounder,
How was trading today? Lot of losses for me.
Me too. That 1hr wick that rejected 1.3020 level and preceding candle which also ended up rejecting that level all lead to lots of losses as price would barely move out of ref candle and then snap back, then move out and snap back before reversing and continuing:60: lower…
My buy trades were losses, but the sell trades just hit first 20 pip TP, hope it keeps going down. I noticed yesterday’s buy trades triggered later in the day and closed a little profit as the EA was setting today’s trades, so that helped offset some of the loss.
UPDATE: 40 TP also hit this morning, making week positive, finally
hi,
thanks crisscross for your hard work, hope you gonna find out the right way to implement it.
today I had 3losses with 5pip SL each and now TP20 hit and still going. I am using manually this “SL move” idea. Today it worked nice.
Hello,
what a settings You are using in the EA to be profitable?
- Entry at same as before, 3 pips above, 1 pip below.
- Refcandlepips true, and 5 pips above, and 3 pips below.
- Lockinpips at +8 pips
- MaxSL as false (yes losses may be worse, but they are fewer, and the profit at the end of the month is much better)
- BE at 19 pips
- TSL1 at 20 pips, TSL2 at 25 pips.
- My london open server time is set at 10 for me, so I have my end time for pending orders to be opened at 15
- of course, my TP stay at 20, 40, and 60 pips.
- slippage is 10 pips
Hi everyone,
First time posting here on babypips and before I ask my questions I just wanted to thank everyone, especially pipcompounder and crisscross1983, for sharing all of their hard work and ideas. This site is an excellent resource for a newbie like me and I’ve really grown an interest in this thread/system. So moving on to my questions…
I downloaded the most recent version of the EA (v1-3-1) and tested it for the first time today on my Oanda MT4 demo account. I’m using settings pretty much identical to what pipcompounder most recently posted. It seems to have worked fine except for two issues.
First, the trailing stops were never placed. Once price hit the BE (set at 19 pips), it locked in 8 pips profit for all three trades and stayed there. My 20TP & 40TP were both hit and as of right now it is about halfway to my 60TP and the SL is still back holding 8 pips profit.
Second issue, the initial 3 buy stop and sell stops were placed just fine right at 3:59am. However, when my buy stop was hit at 4:17am, the EA produced 3 more buy stop orders within the same minute which were also triggered. The buy stop entry on the second set of orders was 2 pips higher than the first (I know this was due to the RefPip settings) but why did it place two sets of nearly identical buy orders? I should also mention that I have no SL set on the EA other than the opposite sell/buy order and it was nowhere even remotely near that. I would have ended up with a small profit on the demo today but since two sets of buy orders were opened, I ended up with a loss.
Just curious if anyone else has had these problems and/or if you could recommend a solution. I plan on running the EA again tomorrow. I really like this system a lot but before I try it on my live account I want to make sure everything is up and running properly. If you need me to provide any more information about the orders & settings, I’d be happy to. Thank you!
It seems like others have had issues like yours, I’m not sure if it means it’s the broker or EA bugs, but I have not had any problems myself like this at all, so let’s see if crisscross has any suggestions.
Hello,
I am also using Oanda and I am having similar problems as yours. But I have not heard this problem from anyone else.
My problem sometimes is that SL and TP are not set. But Trailing Stop and Breakeven are being set properly.
The EA also places orders at the correct time and never places more than 3 Buy and 3 Sell stops.
So I am a little concerned about the problems you have mentioned but i am currently working on the EA to set SL & T properly.
Safe trading.
Today’s trades had buys hit SL (AGAIN!) and sells hit 20 TP, and then trailing SLs, after price went 36 pips.
This Sunday will be changes for daylight savings time for Europe, since my server is located there, I won’t need to make any changes, but for brokers whose servers are in the US, the time change doesn’t happen for another week, so for next week, you may need to compensate, if you want to trade by the reference candle that is the first full hour of the London open.
UPDATE: buys have triggered open, again…we’ll see what happens with this reversal.
hi,
today with the EA I had buy loss and the sell hit the BE-> SL (was +1pip) and did not open new pending orders, because price did not go back enough.
Manually I had 35pips loss for buy direction, SL was 5pips and the other direction BE->SL hit once 31pip, after put back the pendings -3pips from this SL and had 30pips profit.
This SL moving strategy is working fine for me so far.Hope crisscross can finish it and we can test it.
I had no problem with BE and TSL in the EA, 2-3 times I had the same issue that SL and TP are not set, but otherwise is working fine.
Experiencing some strange issues with the EA again today. Using the Oanda MT4 demo account again, I ran the EA using the GBP/USD and EUR/USD pairs. The initial entries (both buy and sell), take profits, and stop losses all were placed perfectly for both pairs. I took a beating on the GBP/USD but the EA had no technical issues. The EUR/USD was a different story.
For some reason when my initial buy stops were triggered, there was again an additional buy stop placed and triggered all within the same minute (for a total of four active buy orders). This time there was just one buy stop order placed (with a 40 pip TP) as opposed to the three placed when it happened yesterday.
Also, when my four buy orders hit their SL and the sell orders were triggered, only two of the original sell stops were fulfilled. However, a third sell stop was created and triggered all again within the same minute. In this case, no harm no foul as I ended up with three sell orders (and the TP was correct) but I’m confused as to why it would have to “create” a new sell stop at 6:08 when it should have just been fulfilling the three already created at 3:59 and it only did two.
On the positive side, the trailing stops DID work today!
All in all i am today in loss with this EA. Hope the next version will be better
I closed my buys at the end of the day at BE.
could you explain exactly your idea for the SL moving strategy?
Is it like having the reference candle grow so many pips each time the BE SL is hit?
Hi,
basically I am using the 7 or 8 am candle for reference, place the pending orders to high and low. If e.g. high triggers, after +4-5 pips, SL move to +1pip. If this SL or initial SL(depends on the candle size can be 5-15pips) hits, place the next pending orders +3-4 pips from the previous pending orders or BE moved SL price. This week after 2-3 tries I catched the bigger price movement. This method has been worked well on Thursday, when the market was ranging.
I am still playing with the initial SL and TPs.
If crisscross could implement it in the EA we can backtest it and find out which one is the best setting.
One more thing, when you backtesting don’t use the default history datas because it gives false results, try to download thick datas and import to the MT4.