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Can I program my strategy with this software?

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jaukb

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6 years ago #113971

Hello, I am wondering if I could program my strategy with this software or is it too complex?

The only indicator used in my strategy is a 50 period HOURLY simple moving average. I look at the 4 hours before the London open. If price closes under the 50 SMA the last bar before London opens I only take shorts, and if price closes above the 50 SMA the last bar before London opens I only take longs. Once London opens I will go long or short when price breaks the top or bottom of the pre-opening 4 hour range by 1 pip. For my stop I take the total of the 4 hour pre-opening range and divide that by 2. I take I dynamic trailing stop of whatever that number is. I let these trades ride until they are stopped out, unless it’s a Friday then I will close the trade 15 minutes before the market closes if I’m still in the trade. No more than 1 trade per day for each pair. If the pre opening range is 100 pips or larger I do not make a trade that day.

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Batch

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6 years ago #131426

I think the answer will be that v3 does not have means to target a specific time of day in such manner, but correct me if I’m to be corrected Mark, v4 will be programmable in modular manner so it might be possible.
Otherwise, if it works for you, search for mql programmers to get the job done!

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Threshold

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6 years ago #131427

This can be made very easily in EA Wizard.

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tomas262

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6 years ago #131515

Hello Christian,

 

do you want me to build it for you in EA Wizard or will you try yourself with my help?

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jaukb

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6 years ago #131526

How much would you charge?

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tomas262

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6 years ago #131557

I will try to accomplish this in EA Wizard and attach it here. No costs are required.

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jaukb

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6 years ago #131567

Ok thank you!

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tomas262

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6 years ago #131611

Hi Christian,

 

I have prepared the strategy for you. It’s currently long only until we tune it. Then I can add short side too.

Strategy check at 7.00 am if price of the bar before closes above the 50 SMA.

If so then it defines “range high breakout level” calculated from range 3.00 AM to 6:59 AM. This range is also used for stop-loss and trailing-stop loss distance.

If price later breaks this level and opening range is < than 100 pips, strategy enters long and trails SL.

 

All the action happens on 1 hour chart.

 

I attach EA Wizard file as well as MQ4 file for MetaTrader.

Please check it and let me know if this is ok.

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jaukb

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5 years ago #131744

Hey Tomas, I greatly appreciate you doing this. I just got back and saw this. I will test it and let you know how it works. Bear with me as this is my first time to use an EA.

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tomas262

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5 years ago #131758

No problem, let me know if any troubles

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jaukb

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5 years ago #131864

Hi Thomas,

My name is Dan. I’m trying to figure out if a portion of my strategy can be programmed using EA Wizard. My strategy is rule based with the final rule to except a trade once all other rules are true is that a new position can’t be open unless it’s >x pips away from the R1 level(if going long) or the S1 level(if going short) can this rule be programmed? The follow up question if so, once the trade is placed can the TP be set X amount of pips away from the R1/S1level?(I found a daily pivot point EA for the pivot points & r/s levels)

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jaukb

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5 years ago #131907

Hey Tomas, all seems to be working well except London opens at 1000 on my platform so the pre opening range needs to be calculated from 0600-0959. How do I fix this? Thanks again!

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tomas262

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5 years ago #131908

Hello,

 

all you have to do is add 3 hours to time ranges used in calculations.

1) Click on “Long Condition” tab and edit Line 2 in IF section to time range 6 – 9

2) change values on next two lines to 10 and 11

3) in the THEN section, edit Assign Variable (StopLossPips) by doubleclick and then using “…” button to get deeper into parameter setting until you get to from-to time settings and set to 6 – 9 as well

4) do the same with Assign Variable (RangeHigh)

5) on “Friday Close” tab and “Var Reset” tab add 3 hours to those numbers

 

That should be all. Let me know in case you did not have success

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tomas262

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5 years ago #131909

Guest_Guest_*,

 

you cannot edit existing EA with Wizard if this EA has not been created using Wizard. But you can definitely edit output strategy code in MetaEditor and add your stuff in there.

I think theoretically your complete strategy could be done in EA Wizard. You can do some basic calculations in EA Wizard so you can basically calculate pivot lines and use those values in conditions.

Maybe Wizard does not seem to be too much flexible but in fact you can do quite a lot with it

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jaukb

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5 years ago #131911

Ok I will try that and let you know. Also how do we make it take shorts too?

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