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The PZ Support and Resistance indicator
Here’s my indicator that trades EUR/USD off of the 1 hr chart. It works but not the way I want it. Not sure if there’s any programmers in here that can help me tweak it.
Here’s the indicators it uses
PZ Support and Resistance Indicator
pz_sr.zip
Also uses Zig Zag and the MACD
The MACD settings is 36 32 19
So far I get over 80% wins on both the long and short positions. But this is the bugs I need worked on
1. My EA enters the trades too early, often over 1 day too early and gets decent size drawdown before it makes a small profit. Price goes against the EA 100% of the time on the first day.
2. Doesn’t make that much profit per trade often under $100 on a 100k lot size. It doesn’t take full advantage of the move
3 It sometimes opens trades and doesn’t put in a SL or TP, it does close trades based on support and resistance so not sure if that’s why it doesn’t enter values sometimes for TP and SL. 50% of the time it automatically enters the SL and TP but not all the time.
If someone can help me fix this EA I’d greatly appreciate it. I think this EA has allot of potential since it rarely losses trades.
What’s weird when I backtest this EA it losses allot but in forward testing it wins most of the time, is that unusual? When my programmer backtest the EA it wins most of the time, but on my MT4 platform it doesn’t perform the same as my programers in backtest only.
You can download the EA files here https://www.dropbox.com/s/urn2s3ubvr1s2ir/EURUSD%20EA%20.zip?dl=0