SDS - Simple Daily System EA - page 6
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or just select 20 day ADR average and use that number and adjust every weekend
well it took some figuring (clumsily)
what it does is figures the adr period 20 (from the current day - backwards)
and takes 80% of it and then uses that as tp and sl
also added another filter to try to improve the drawdown
I could change it to calculate each monday but that would leave it the same for the week through all its weekly trades
anyideas for a good filter?
to improve it????????????????/
Hi Perky
Thanks for giving this a go but I dont think it is working correctly, or at least not the way I have been testing
For example, if you did a backtest with GBPUSD from 29/06 the very first trade should use at the time the past 20 days ADR range which in this case would have been 139 TP 139 SL (it would change daily but usually no more than 5-6 pips as we are talking about a 20 day average). This version set a 30 pip SL & TP so was opening and closing far too many trades.
I think it would be great if it could monitor daily the past 20 days range (although weekly can work as well) and use this as TP SL so the fast pairs get some room to stretch and the slow pairs (especially like EURGBP) we done have to wait weeks for one trade to close as it takes that long for this pair to move 100 pips
Hope I am making sense, again not sure how to program so apologies if this is alot harder than I am making out and of course it needs to adjust these values daily without affecting the MM routine
Hi LCFXTrader,
Any news about your ea development.
The idea safire 25 had might be a good one.
Good trading
Hi LCFXTrader,
Any news about your ea development.
The idea safire 25 had might be a good one.
Good tradingI haven't heard anything from Omelette lately. The EA is still experiencing a problem opening the correct lot sizes. See my post here: https://www.mql5.com/en/forum/178793/page3
I plan to stick with my orginial rules before making any changes. I would be very happy to get the EA working properly.
I haven't heard anything from Omelette lately. The EA is still experiencing a problem opening the correct lot sizes. See my post here: https://www.mql5.com/en/forum/178793/page3 I plan to stick with my orginial rules before making any changes. I would be very happy to get the EA working properly.
I can take a look, is the original EA for your rules posted in this thread?
Suggestion for improvement
I've been playing around with this a bit, I think it may have a lot of potential.
Referring to my previous post, I think an improvement could be made..
I'd like to see the option of closing the progession once there is a new net gain to the balance. In other words, whenever the balance is, say, "x" number of pips higher than the highest previous balance you revert back to one unit.
This would enable more slow and steady profit taking, and help prevent the lot progression from getting too large, thus improving drawdown.
I think this would be a simple coding change; just have a means of marking the highest previous balance high and setting a "close all trades" to occur once that previous balance is exceeded by the user variable.
Hi matrizebiz,
the ea modified by omelette is posted in second page on post 18 and
the original is posted in the first post.
Senior Member Join Date: Jan 2006
Posts: 1,070
I've just realised I do not even know what the strategy is - could you outline exactly what is involved, as it's easier to know what the EA should be doing, rather than trying to work it out from the code - entry conditions I understand, but are you scaling into a position, semi-martingale-style, and waiting until a certain dollar value is achieved, or are losers closed out???
Also, is the EURCHF problem in addition to the lot-sizing bug?
Omelette,
The system is very simple (hence its name). It is based on the daily candle close.
Entry for a short position:
If the candle closes below the SMA (currently set @ 20), below the PSAR (currently set a default), and the previous 10 day ADR is > 50 pips then an entry for a short is made on the open of the next daily candle.
Entry for a long position:
If the candle closes above the SMA (currently set @ 20), above the PSAR (currently set a default), and the previous 10 day ADR is > 50 pips then an entry for a long is made on the open of the next daily candle.
Stop loss & take profit:
I have both of these set to 100 pips giving a 1:1 risk/reward ratio
Money management:
The mm is designed to increase lot size by a factor of 1. It increases the lot size after a loss and decreases it after a win. Just image going up and down on a latter eventually returning to the ground when the job is finished.
Notes:
The system should have only 1 trade open per pair at any given time (contingent on all indicators agreeing of course). A new trade in that pair can't be opened until either the take profit or stop loss has been hit for the current trade. I am counting on our win rate to be 50% or better over the long haul. If this is the case, then our mm will recover the losses along the way.
I hope this summary gives you a good overview on how the SDS - simple daily system works.