Hi Jonathan,
I will leave these pipcompounder’s questions for you.
Also… regarding the Break Even. BE;BE_TRIG;BE_DEV . Can you explain this a bit more. By default, the EA has 0;0;0
I am watching the NY short for today climb back up away from a 29 pip gain and is approaching the entry. Will the BE trigger with these settings?
UPDATE: Break Even not triggered with the current settings. In the negative now.
@pipcompunder
If you want no reentries just set the setting to “0”, the time does not matter in that case! Your version would work as well though.
It might be an issue, yes, I’ll get that Finfx account and try it out as well.
@riley
No, it won’t trigger. The BE setting works like this:
1st val: BE on/off
2nd val: Pips difference entry/price for going BE
3rd val: Difference BE has from entry
So if you want a BE at lets say 20 pips it would be:
1;200;0
Hope this clears things up 
Yes, I understand it now. Easy to understand once you know
@Pipscompounder, on the manual (non EA) version, are you still incorporating a BE? If so, at what pip gain level do you move your SL to BE?
That’s just visual backtesting, and no BE used, just original SL and TP, and maxSL of 30 pips.
Based on the last week and couple of days, a 30 pip TP for NY would have a couple more TP hits, and that much less SL hits, notably today and last Friday. The NY idea is fairly new, and checking with 40 pip TP seemed to be the best previously, so I’ll have to think about this…we do want a good win\loss ratio.
Ok, my settings going into tomorrow. This is for NY but the same for London except for the reference candle which will be 09:00 with 1 lookback. Money management is set to every 1000 and the MT4 settings are for sizes of .10 so, in effect if a balance of $6000, then my trade size is .60
No BE, SL of Max 30 and TP of 30
I’m going to use the same settings as you, but have the RE_minutes as 30.
I think the EA will work well, just seems to be something weird with the auto-GMT.
~Jonathan, on the re-entries, if TP is hit really fast, the EA won’t re-entry pending orders within the Re_minutes, will it?
Agreed, I think this EA is going to be fantastic. Your system already is Just a few tweaks to getting going the way we want and you can change my name to “AcountBalanceCompounder” 
this calls for a smile choir…
Hello Pipcompounder,
First, I must confess that I’m not very good with EA’s or writing code. In spite of that, I still wanted to contribute the following idea in this thread. I’ve been experimenting with a combination of the Cowabunga method and the London/NY breakout that you came up with.
Indicators I’m using are EMA-5 & EMA-10.
Theory: only place entry order in same direction as last EMA crossover on 4Hour chart.
I’m still playing with placement of stops as well as how to best manage my trade. Visual backtesting on EUR/USD, USD/JPY, GBP/USD is encouraging. If this variation works, it could be just the thing for those of us that struggle with automated trading.
Thanks for your time and patience,
Brassman
Hi Guys,
Hope you don’t mind but I downloaded the alpha 4 version yesterday and after studying the sttings in the forum, I placed this mornings London Open trade with these settings and TP Hit!
I am GMT timeframe on Alpari UK (GMT+2).
Great work pipcompounder, johnathan and crisscross for their endeavours. Will be following in future.
John
Thanks for this, pipcompounder. I like the simplicity. And very quick TP today was nice after the slightly disappointing NY trade going so close to TP yesterday.
Just a quick question, I’m terrible with coding, so was wondering if anyone has backtested 15mins for London breakout yet? Would that give a better yield, with a much better risk reward ratio, or would it get stopped out way too often? Seeing as NY works quite well with 15mins, maybe you’ve tested it, pipcompounder?
so what exactly are you trying to say
Ok…seems changing the GMT to manual has fixed the timing issue, the London traded at correct times and levels and the NY just placed it’s trades correctly. The London sell is still open, however, after the TP was hit, here is the order placement:
23/01/2013 11:00 Sell stop eurusdm 0.02 1.32836 1.33080 1.32536 1.33391 0.00 0.00 0.00 PCB_SHORT_0
This pending order should have closed when the buy hit TP, so there’s some bug somewhere there.
~Brassman, the best way to see if your idea works is to visually backtest it at least a month back, I prefer 3 months.
If the 4 hour crossovers seem to confirm direction, it would be an advantage.
~Thesupertramps…yes, I have looked at 15 minutes for london open, which is how I stumbled across the NY idea. It seems to be ok for some days, but others it gets “ranged out”, meaning it hits both SLs quickly.
Once we have the MT4 version settled and debugged, then we can try backtesting on MT5 different ref candles and pairs and see what the equity curve looks like. I agree that 15 minute candles usually are smaller, so the risk\reward is better-we have to make sure we are entering on a point of trend that will continue in our favor the majority of the time-enough to be profitable.
Hi PC
My London did not open. It was one of 2 things. When yesterday’s London short came back and hit the SL, the Long was triggered and I dont think it ever closed. It went negative but not sure if the SL was ever reached and never closed causing the new days orders to not get placed. OR… it had to do with a zero (0) for the retry’s.
For the NY open today, I did place the retry back to 1 the orders were placed on time. So not sure what was with London but since nothing is open there, I may put the retry back to 0 to rule out any other reason.
We’re getting there!
great trading system
yay…NY hit TP…30 pips, looks like 40 would have been ok.
Now the london sell that wasn’t supposed to be still pending may be opened…hmmm…
And the NY buy pending order is still open, too…I will see if these cancel at the 20 hour mark, later today.
my pending buy order is open too but it should have been cancelled by the EA after the TP was hit if I understand it correctly.
Jonathan? Did you pending NY order get cancelled properly?
pipcomponder,
I’m still backtesting, however, it appears that my theory may be incorrect. I’m seeing several days where having both a long and short entry order would’ve been better than a single order in same direction as H4 ema crossover.
This is helping me see that I have a tendency to “freak out” when price action starts ranging on the m15 timeframe. In these conditions I believe I start second guessing myself and as a result I start trying to “fix” things that aren’t broken.
I’ll continue backtesting, but it looks like your settings for manual entry orders (London: 1hr TF , 30 pip TP and SL of 30 pips, only if the candle is longer than 30 pips, 3 pips above, 1 pip below to place stop entry orders and SLs…NY: 15 min TF, 40 pip TP and SL of 25, only if candle is longer than 30 pips. 3 pips above, 1 pip below to place stop entry orders and SLs.)will end up working better than my theory.
Thanks for your time,
Brassman
Hi Guys,
Don’t know if this has anything to do with it but there is an entry on the screen “time until close pending” with a value on mine of 10:00 pm. Perhaps it is coded to close pending orders at this time? Is there a user setting for this?
John
Where can I download the latest version of the EA?
