I do have a great idea. I have made an EA and is trading real money. No luck yet but there must be a great possibility. I cannot share my EA, because it is not in a shape to do it, but I can program a new one within an hour and I will do so - if there will be enough interest for this thread.
First a word of the rules in this thread.
- It is not for beginners. If you are a beginner, then you are very welcome to follow the thread, but don't ask questions. There are many other threads for people like you - in the matter fact beginners are very welcome in most threads.
- I want this thread to be a place were people with skills from years of developing strategies and possible indicators and Expert Advisors to work together in making a shot on the grail.
- Everybody shall share their work. Like every new version shall be uploaded as MQ4 file - NOT EX4. That will support that we can all benefit of each others work. AND - this thread will not end like I have seen many times, with the developer just stopping the thread and the contributors get nothing but a long nose.
- Bad language and attitudes will lead to exclusion. So will it be if I spot anyone not publishing his/her work but only grabbing other peoples work.
- This very first contribution will be updated with the results. I expect that there will be more than one solution developed and a number of strategies. Everything will be summarized here.
- Please do not use Magic Number in your coding. It is only necessary if you will have more than one trade running at the same time and at the same instrument (like Gold).
- The strategy can be used on other instruments than Gold. I have found until now, that it is important that USD is part on the instrument. But in the end it is possible to use it on stocks, options and you name it. But lets us work on Gold Spot in this threat please.
Now to the strategy. The metals does have quit long runs with loads of pips. Manual traders must be able to earn a lot of money here. I am not a manual trader, I can only trade using EA's. The problem with the long runs is, that occationly there will be very short runs. The direction might shift quickly 5 times in a row, which will lead to losses. And then.... suddently 300 pips in a run. So the problem to solve is - as allways - finding Entry and Exit criterias.
I use the Hull indicator. It is a very fast type of Moving Average. It is not part of the Meta Trader package, but it is available. I will find it for you. Now how do we program with an indicator which is not part of Metatrader. Well that is easy. I will show you.
- Use Gold Spot (Gold/USD).
- Timeframe M5.
- Hull indicater with the settings:
- Period 200. This gives the nice long runs
- Divisor 2.0
- Price - the close price.
- Entry is on colour change on the indicator => change in direction.
- Exit is when a certain amount of pips has been reached.
- I run the EA from 1:00 AM GMT and I do only take One trade.
- If the trade is positive then I call it a day.
- If the trade is negative, then it often is a sign of the market being flat and undecided at the moment. That often will lead to more false signals. So if it is a loosing trade then I definately call it a day.
These settings are all up to discussion and tests. But it is mandatory that the Hull indicator is the main indicator. You may test some adding indicators. It is also mandatory that we work on Gold/USD in the threat even if it is well possible to use other instruments.
Below is a capture of my screen. Note that the background colour is grey. My background automativally shift in these cases:
- Black in case of not owning the instrument.
- Blue if I own it Long.
- Green if I own it Short.
- Red if I own both directions (hedged).
- Grey if I have stopped the trading and I do not own the instrument.
This way I can have many instruments on one screen and within a glance tell which of them I own and in which direction.
I have asked mladen if we may use his Hull indicator. Avaiting an answer right now.
#property copyright "Đ mladen, 2019"
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