Thread: Simple Breakout/Straddle EA required

Originally Posted by ;

Clocksey, sorry but I do not recall reading your remarks earlier. Thanks for the encouragement and interest. Eyeballing this egy can give you some idea regarding its potential but you need to conduct it in backtesting to comprehend the challenge. I will PM you the executable and check results.

We are at breakeven and I would like to think that there is one thing missing that will tip this to profitable results. In fact, it will probably be a bunch of things. I like your thought. Could you expound...

I use the three degree ZZ Semafor indiors to reveal tendencies, not positive if it's likely to take some of the code from the indior and give you the trend management. I am aware there are a couple indiors doing the rounds that give you a daily tendency. It might give a margin of security if the general direction or a change was taking place.
I think a built in moving SL might be a fantastic idea too, to grab any accessible profit, then if the price falls back to mid-candle another pending order can be started. Just a thought.

Thanks for pointing them out Ronald. I'll check them out.

Originally Posted by ;

What's wrong with some of the Generic Breakout EAs?

https://www.forexforum.co.za/general...-question.html

Kore also coded a generic breakout EA

https://www.forexforum.co.za/trading...e-journal.html

These are my current thoughts - I am just throwing them out - they all may be crap.

Think about just placing the trades based on the 22hr london time candle just before the London open? Say at London period? At times the market breaks out throughout the Asian session, however, a fast eyeball tells me that the most of the major breakouts happen through the London session. Doing so will cut out breakouts and would assist in sideways consolidation.

My second idea is to just exchange Thursdays and Fridays. This is when most of the moves appear to happen.

If you are taking a look at the market position to attempt to take trades in sync with what is happening, maybe you might look at correlated pairs? GBP/CHF or even the GBP/JPY are not along with in case the JPY/USD is breaking that could provide you a sign of a breakout.

Originally Posted by ;

Peter, I have been working on some thing else. I did have time to look at the box idea that is adjustable. To a nice win, it might have turned into one little loser out of those 40 or so trades and with 2 others it might have been successful, but they had been too close to call. Transactions would not have been affected. I have not looked close in the idea of using the final price, but I think that it would profit pips in some of the trades and save some pips on some losers rather than turning losers into winners.

One idea I had in working on the other...

Originally Posted by ;

Ok these are my current ideas - I'm just throwing them out - that they might all be crap.

Think about just placing the transactions depending on the 22hr london time candle just ahead of the London open? Say at London time? Sometimes the market breaks out during the session, however, a quick eyeball tells me that the most of the major breakouts occur through the London session. Doing this will cut out breakouts and would assist in consolidation.

My second idea is to just exchange Thursdays and Fridays. This is when...

Peter, there might be merit in your thoughts, but they all take time to appraise and there's not any promise of success. The situations you and the London session are talking about will be handled by my EA - . I used to exchange the London session starting and the 1 thing that I remember about it was that there was often. Because of this, I never considered it appropriate for automation. But if you would like to give it a try, go ahead.

I don't want to give significance a peek at the present as I still learning about it and don't have sufficient confidence in it however. Thats something that I might consider in a few months.

This may sound strange, but I've been testing a totally egy. One that takes the previous candle however scalps inwards towards the middle instead of searching for breaks away... I find this happens more often than the contrary, but maybe you are able to combine both into a single EA...

I've discovered that a lot of this 15 minute candles (especially on the EUR/USD) have a lot of overlap, in other words, the duration of the previous candle covers a lot of the movement in the subsequent one. This is not always true, but most of the time overlap.
I have been using a manually operated EA which places in an buy or sell after I hit on the very top or bottom of the candle with a very speedy take profit margin. In case the movement goes away from the desired direction I then simply add another order - therefore if in the peak of the candle it goes higher I trigger another sell (or buy if it falls under the bottom of the candle.
90% of this time the movement comes back throughout the trades and finishes the take profit.
I have been doing so with 0.05 lots on the M15 interval and through times of moderate to long candles I have been taking #60 per hour!

The purpose for posting this is to loe code for the prior candles highs and lows and automate the whole thing. The stop losses are put rather tight, so that it never runs out of control, however by incorporating more and more trades every time the amount reaches bottom or the top it's likely to earn some scalped pips.

. . .It might be however that your broker will not allow it, but mine in the UK does in the moment...

I have not had any success going the box breakout EA forward. I left the programming changes and they produced no noticeable improvements (or worsening). After looking at my test results more closely, I am convinced that this egy does good in trending markets and horrible in ranging markets. But a caveat may be that using a different mix of settings, it may do the job for ranging markets, however now I am out of ideas.

Your idea sounds promising. I presume it works good in ranging markets like the EURUSD was in recently and not so well in trending markets. As I am finding that is better than the other way round.

It appears to me that somebody has coded something like this but I can not be sure. Finding something with this forum can be more work than its value. I could be persuaded to code this. I like the idea of this being based on price action and being such a idea. Maybe you could post the EA you're referring to or send me personally an email. I can not do possibly next week is better and this will provide you time test and to assess your thought and search.

Originally Posted by ;

.. .It might be however that your broker won't let it, but mine at the UK does at that moment...

Who's your broker Clocksley? Alpari?

The two theories should do the job well.

In analyzing (which I am having to perform manually) I passion in the buys and sells with an assigned key using one of 2 profits - either a tight one of just a few pips or a trailing stop set to about 20 and transferring one pip in a time to follow. This works better as motions that are larger are profitable.

I'd love to construct an EA that chooses the top and underside of the last candle, then puts a sell on very top or a buy in the base, with the capability to replace orders when the pips are taken and the price goes back to the top. It would also set a buy or sell discontinue whether the tendency breaks out (because this thread started out). That way both foundations are covered. As Forex ever moves smoothly in 1 direction, but zig zags up and down, I believe grabbing the movement would bag a few profit, whereas the buy or sell limit on a breakout would grab the other way. If there's a false start on a breakout and it goes back towards the candle then more automated orders would kick and grab some brief stopped pips there, reducing the loss on the breakout order.
One hotkey I programmed placed five very tiny orders, each with exactly the take profit one pip aside, so it would at least take some profit if it overlooked the largest profit amount.

In the minute I am noticing the ideal time for brief inward pips is in the very top or bottom of this candle and NOT the wick, and also the place to place breakout orders is in the wick ends - not certain how to code the candle rather than wicks though?!


I hope that makes some sense! It will in my head if I have not explained!

I will code something as post it as soon as I have chance - ideally in a few days...

Originally Posted by ;

Who's your broker Clocksley? Alpari?

Alpari UK, yes.

They are occasionally slow on order placing however, which can be annoying, as is the 16 pip spread...

Originally Posted by ;

Alpari UK, yes.

They are sometimes slow on order placing however, which can be annoying, as is the 16 pip spread...

Cool thanks. I'm just using metatrader for testing/reviewing charts and utilizing IG Index to exchange.