Help With An Unfinished EA - page 2
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I think you would get more interest if you describe what the system is about, you don't have to go into details, but at least what is based on, how long have you traded it, have you traded it manually, and is it profitable. That would be a good start for you.
Also, now you need to write the whole thing from scratch, which is a lot of work than what you originally requested.
Also, you are a new member, no one even knows who you are, and if you are serious trader or just someone who is starting.
Eurgbp ea needs improvement
I have been experimenting in building an EA.
I have built an EA for EURGBP, 1HR TIME FRAME, STOP LOSS 100 PIPS, TAKE PROFIT 55 PIPS AND TRAILING STOP LOSS 20 PIPS.
I have backtested the EA, and although it does not execute many trades, it has shown not to wipe out the account. And Usually breaks even.
We need to improve on this EA.
The settings of the EA are as follow:
BUY WHEN:
Stochastic Oscillator is below 15
& ADX is below 20 - (to trade only in a ranging market)
SELL WHEN:
Stochastic Oscillator is above 85
& ADX is below 20 - (to trade only in a ranging market)
Usually when the Stochastic Oscillator is below 20, the price of currency goes up 2-3 bars later, and vice versa on sell (80).
We are trading in a ranging market (ADX) below 20, so an uptrend or down trend doesnt cause the trade to hit stop loss.
The Buy or Sell order is automatically closed as soon as ADX goes above 20, because the market starts trending, and the trend may go against the current order, causing it to hit stop loss. It may go along with our order, but is not worth the risk.
Please download the MQ4 and see if you can make any improvements on it.
The improvements required are:
-Execute more trades on a daily basis.
-Perhaps add more indicators such as Bollinger Bands and Envelopes which are good indicators for scalping.
I am quite inexperienced so dont know much about how to implement these indicators in an EA.
I have build the EA on Expert Advisor Builder for MetaTrader 4
Please find the attached MQ4.