Simple Breakout/Straddle EA required
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Thread: Simple Breakout/Straddle EA required

  1. #1
    Hi

    I am looking for a very easy Breakout or Straddle EA so that I could do some backtesting. I've looked through countless threads and attempted countless EAs but I can not find anything that meets or could be modified to satisfy my requirements:

    1. Breakout based on a single hour. Stoploss for extended or short is the other side of the breakout box.
    2. No take profits, trailing stops or anything. Simply close out the place before the breakout mention hour the next day.

    I have a sense that this kind of egy could be very profitable depending on the fact that it's plogically hard to implement. It will have lots of losers but the winners will be quite big.

    Thanks

    Pete

  2. #2
    I noticed nobody replied to this post if the petition is open, and I was wondering. I may be able to reuse some and have finished composing EAs. Allow me to know.

  3. #3
    Quote Originally Posted by ;
    I discovered nobody replied to the posting and I was wondering if the petition is still open. I might have the ability to reuse some and have finished composing EAs. Allow me to know.
    I was also considering a breakout method myself. My head was bashed so many times with different systems. I am quitting the pain and moving with systems that are simple.

    I have an EA I have hacked and slashed to attempt to make it do exactly what I need. It's nowhere complete, but it does take transactions (sort of). I'm not a developer so please forgive me.

    It's a modified variant of the speed trap system with this forum.

    If anyone has any interest that I can explain what I am doing and what's wrong with it.

  4. #4
    Quote Originally Posted by ;
    I discovered nobody responded to the post and I was wondering if the request is still open. I have completed writing EAs and may be able to reuse some. Allow me to know.
    Yes - please post.

    I'm currently live trading this egy and I'm getting some spectacular yields. I'm straddling the USD/JPY candle which begins at 21:00 GMT and finishes at 22:00 GMT (22:00 to 23:00 London time) and am receiving some spectacular results. Stops are extremely tight and it may move 8 or 7 times in you prefer during the day.

    I'm playing around with entries as I'm asleep when the trades are triggered so that an EA will be very beneficial. Thanks guys.

  5. #5
    I was offering to code your egy not post my code. So that I would not need to start from scratch, there are some common characteristics between the two. This makes it easier to do of course and that I must have something ready for testing from Monday or Tuesday.

    My egy (15m JPYUSD channel breakout) is still a work in progress and isn't prepared to post. As far as I can ascertain, the code is bug free. It's done over the past month, but my backtesting showed only tiny gains. It's fairly sensitive to market conditions and picking the right settings is crucial for it. I need to put some more effort into researching the reasons for this.

  6. #6
    CodeMeister,

    I had been wondering if you're able to help me with is piece of code. I am not a programmer, but I am trying to learn.

    I am trying to set a start hour and end hour for your breakout range. When the EA has found the range I'd love to take the highest and cheapest of the range and also store them in variables. When the transaction executes I'd love to reset range and await the next day range period.

    The code below just allows me to place the end hour after which I must look back to get range. Additionally, the global variables is not working properly when the range is loed it must remain until reset for following day.


    Extern int Range_Hours = 7; // End hour to start return for range
    extern int Look_back = 3; // Number of hours to return to determine range


    if(Hour()== Range_Hours Minute()lt;5)

    double H =High[iHighest(NULL,0,MODE_HIGH,Look_back,1)];
    double L =Low[iLowest(NULL,0,MODE_LOW,Look_back,1)];
    GlobalVariableSet(BoxL,L);
    GlobalVariableSet(BoxH,H);


    dual BL=GlobalVariableGet(BoxL);
    dual BH=GlobalVariableGet(BoxH);

    Thanks in the Event That You can help.

  7. #7
    Oh OK - I thought you might have come across a few.

    OK I'll tell you my ideas and you can make a decision whether you would like to code the egy and share it with me.

    Idea 1 (as I said in a prior article)
    Take the USD/JPY candle which starts at 21:00 GMT and ends at 22:00 GMT (22:00 to 23:00 London time). Buy order is the high of the candle and stoploss is the low of the candle. Sell order is the low of stoploss and the candle is the high of the candle.

    When you have code on a 15 second candle it must take you just a couple of minutes to modify your code and backtest this egy.

    Idea two
    Take the USD/JPY candle which starts at 21:00 GMT and ends at 22:00 GMT (22:00 to 23:00 London time). Buy order is your 10 pips above the high of the candle and stoploss is the high of the candle. Sell order is 10 pips below the low of stoploss and the candle is the low of the candle.

    General ideas
    After investing this egy for a few weeks I will say that I have been manually moving my stop. It seems like if there is a move in 1 direction there is usually a retrace. For example the trade triggered and there was a range of bars of consolidation. I moved my stop so that if there was a retrace I'd continue to a profit, but I gave it plenty of room if it was likely to go higher. Perhaps a manual quit moving is vital to the profitability of this egy so an EA will not do the job?

    My second thought is perhaps there should be an automatic shoot profits depending on the average true range of the pair or some similar calculation based on the motion of the pair. I don't think there ought to be a take profit based on a multiple of the size of the transaction but I'm unsure the best way to figure a suitable take profit figure.

    My third thought is that the 2nd untriggered trade ought to be canceled at some point in the day but I'm not certain what should decide this. I don't think that it should just be based on the time of the day - maybe it needs to be canceled on the basis of the distance between it and the current price compared to average true range (or something similar).

    What do you think?


    Quote Originally Posted by ;
    Maxx, I was offering to code your egy not post my code. So I wouldn't have to start from scratch there are a few common characteristics between the two. This makes it more easy to do of course and I must have something ready for testing by Monday or Tuesday.

    My egy (15m JPYUSD channel breakout) remains a work in progress and isn't ready to post. As far as I can ascertain, the code is free. It's done over the last month, but my backtesting showed tiny gains. It is quite sensitive to market terms and picking the right...

  8. #8
    I can Modify my box breakout should you need it...

    PM me if you need it.

  9. #9
    Your comments are very valuable and I have few things of my own to add. I looked at a few daily charts and drew lines on them at the low and high of the pub. Was that the majority of the day's activity happened away in the box following the first couple of bars obtained moving. This makes me think that trades have to run with a wide stop and profit goal rather than grabbing the 20 to 30 pips. I think we are both in agreement. I am considering a lively trailing stop and profit goal that starts wide at 40 to 50 pips and are tightened with each new bar maintaining a risk/reward ratio of 1:1.5. I've that may be a fantastic alternate and experience with an ATR like stop loss.

    Both the thoughts 1 and 2 can be incorporated with an input parameter for Gap = 0, 10 (or anything else). I certainly understand the advantage of this gap as the bars are very near to the high/low range. I can see both sides' chance of the straddle and with both transactions. Supplying a gap prior to the cause price should reduce that risk at the expense of a profit. I was wondering how many times this situation has been seen by you.

    The conservative approach is to do as you suggested and cancel the opposing trade at a determined point. A more aggressive approach probably won't be worth the risk.

    Another thing I thought of wasn't holding any orders open on weekend rather than trading on the first Friday of the month (NFP). There should likewise be minimum and maximum range (state 8 to 20 pips) to prevent the unusual narrow and broad range situations.

    I will see enough potential within this egy to move ahead with a version that can be backtested to determine how it performs on a long term basis. The results you are viewing could of course be due to the market position at this time and might not continue.

  10. #10
    I've coded the EA and partly tested it. The results are not so encouraging. Over the past month or so, they had been strong with a win ratio and also a payoff that is 10%. I also backtested it throughout the summer and it had a 78% reduction rate and also a -14% payoff. So there is definitely dependence on markets states and input settings which shouldn't be surprising.

    My main findings about this egy were:
    Stops and profit targets need to be left open open differently the trades get stopped too soon.
    Close the contrary order once the first is triggered appears to function in addition to leaving it open as long as possible.

    Allow me to know if you would like to check the code.

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