EA for big market moves >looking for coder<
This is pretty interesting. So it works by moving the pending orders by lets say 5 pips up and down from the lowest and highest recent points. This way you skip out on low volatility markets and catch the large swings. I think it is worth exploring. Hopefully we can bring some more attention to this strategy.
:)
Yep i`ve noticed that when important economic news are released the market moves a lot. And uselly its to late to catch it cuz its moves so fast. Propably the big institutions like a banks have a news few minutes before they are released.
So by setting a correct time frame ( i think best will be less then one minute) and a distance between price and pending orders the orders will not be opened as long as huge moves will not appear.
I hope any programmer will interest about my idea.
I wonder if there is a downside to this technique.
:)
I pretty sure if u set a wrong distance from current price it can be triggered to often. So in my opinion that should be minimum about 10-15 pips
And ... in my opinion its needed second EA (applied to a different Time Frame but same Currency Pair) to menage opened orders like that:
1) closing a part of triggered order after some pips so if price will go against you u will be at zero pips lost
2) trailing stop
In a simple words: good automatic MM 
I pretty sure if u set a wrong distance from current price it can be triggered to often. So in my opinion that should be minimum about 10-15 pips
And ... in my opinion its needed second EA (applied to a different Time Frame but same Currency Pair) to menage opened orders like that:
1) closing a part of triggered order after some pips so if price will go against you u will be at zero pips lost
2) trailing stop
In a simple words: good automatic MM Hi marioo3d,
I can suggest to you to use NewsTrader EA. Because it is free as mql4 code, I am trading it on demo and live real for few years every day, it is profitable, and it is exactly what you requested: placing 2 or any pending orders immediate before news event happened. You can trade your own calendar you will create (it is easy to make), or my calendar (everybody is trading mine ).
https://www.mql5.com/en/forum/177102
As to the pending orders to be moved by every bar so ... there are a lot of false movement when we have big candle with nothing ...
Once upon a time, when the brokers did not filter the datafeed, we can open 2 pending orders as buy stop and sell stop, and those 2 pending orders were executed almost immediately and closed both in good profit.
(sing it as the song ... "once upon the time, when the price was smoothie
and life was easy ...").
I do not think that this system (moving pending orders by signle candle move) will work ... try attached indicator and see (red/blue dotted line is the place where to place pending orders and it is calculated based on the number of the bars configure in the settings of this indicator).
The system to use this strategy is this one:
https://www.mql5.com/en/forum/173317
It is MaksiGen trading system. Old name of this system is Paramon system. Paramon is the name of the trader who created this system (he called it scalping trading system). He was legendary person and very famous trader many years ago by his trading, posts on the forums and so on. (and he was real trader trading this system live).
So, use MaksiGen (it may be improved and so on up to some requests), or Newstrader. Or, if you really like your idea (moving the pending orders by every candle) - trade your idea at least on demo for few days or weeks to prove at least for yourself that it works.
Many coders will want to program indicator/EA or system which works, and you will have as a coders' competition inside your thread But if does not work, or "we are not surte ..." so it is very difficult to make attention to the coders.
Because coders are coding for free if
- it is interesting for them personally
and/or
- it is interesting for many members of the forum.
So, it is what I wanted to tell ...
Hi, marioo3d.
I tried to write expert for you idea, but want to clarify one thing.
As I understood, you set BuyStop at High of previous bar + Distance. And same for SellStop. But there are situations, when price for Buy/SellStops will be too close to the current price and server will not allow to place such pending order. For example see screenshot
Expert for this strategy
I wrote draft EA for this strategy. It works in most cases, but I didn't test it deeply. And it stops if situation, as I described in previous post, occurs. Write me, if you know how to fix this case.
I checked it on 5-digit brokers. Should work on 4-digit also (you need to reduce external variables by 10).
:)
Thats a price Gap. Its happen but not so often i thinks. Its a same situation like in multiplayer games and we call it LAG. In a simple words its a shord period of time when a server dont sent a information for a clients.
In this situation EA should
a) ignore it and recalculate the levels from the next candle
or
b) if a problem like that happens set a pending orders in a 20 pips from current price.
We just have to make a some test to check which option will be best for it.
And of course most important think will be set a correct Time Frame.
Becouse on a lower time frames the GAPs can be smaler ...
Thank for interesting Danill, waiting for any respond
:)
I have just tested EA and have ideas we have to change:
1) EA have to react faster for a new candles.
I have seen a few situations when a candle closed and a new candle triggered the order becouse EA was waiting about 15 second to recalculate a new candle and move levels.
2) After close triggered order EA have to open new pending orders faster.
Same like before i`ve seen a situation that EA wait about 2-5 minutes before opened freesh new two pending orders...
Still got a problem with finding a EA which will generate a lower then 1 minute charts and will be working with this EA. Ive tried FlexiCharts 2.0 and dont know why but this EA dont work on offline 30seconds chart..
1) EA have to react faster for a new candles.
I have seen a few situations when a candle closed and a new candle triggered the order becouse EA was waiting about 15 second to recalculate a new candle and move levels.
If this occurs only several times, I think that it was due to: latency between client and server or broker's server slows (strong news release etc). My EA doesn't have any complex calculations
2) After close triggered order EA have to open new pending orders faster.
Same like before i`ve seen a situation that EA wait about 2-5 minutes before opened freesh new two pending orders...
It is strange. I'll test it. You use 1-minute TF, right?
BTW, it also may occur on very slow market (if there were no ticks, then EA doesn't run his start() function and can't place/modify orders).
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Hi im looking for programer to code this EA.
EA will open two pending orders:
1) Buy Stop higher then last candle maximum
2) Sell Stop lower then last candle minimum
Distance beetwen last candle and pending orders will be set by user.
When new candle appear EA recalculate distance and move pending order.
So there will be two pending orders moving with the market price in a distance definied by user (the levels of pending orders have to be updated every new candle)
Not need any SL or TP, im gona use a diffrent EA to menage orders when they triggered.
Whats the purpose of EA like that ????
EA will be catching big market moves. Its happen usely when economy news are annonced, so the price moves about 50-100 pips in a few minutes.
If we set a distance between the curent price and pending orders the smal moves will not have a time to trigger order becouse the new candle will appear and EA will move the pending orders. But in a situasion when market will move a lot the EA will not have a time to move a pending order becouse will be triggered before new candle appear.
One triggered order cancel other one.
When opened order will be closed by Trailing Stop, EA will generate new 2 pending orders and situation will coma back to begining of the story
I think best Time Frame for that will be betwen 30sec -1min
Sending attachments...
Waiting 4 any respond or opinionns about it.