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Forex Breakout System EA


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Re: Forex Breakout System EA

 

Here are my results after 6 trading days with the EA: 558 pips. Had a trade reverse that resulted in -56 pips this morning X-(

 

Total trades: 62

Profit trades: 49 (79.03%)

Loss trades: 13 (20.97%)

Max drawdown: 5.41%

 

Observations:

  • Asia session the most profitable overall, London very close though[/*:m:10ty8epq]
  • NY session not good for big breakouts.[/*:m:10ty8epq]
  • AUDUSD did well during the Asia session[/*:m:10ty8epq]
  • GBPUSD staying off until it shows more action[/*:m:10ty8epq]
  • USDJPY and EURJPY best performing pairs, EURUSD very close behind[/*:m:10ty8epq]

 

The only changes I have made so far were to adjust the times for my broker - All other settings were defaults. Several trades in profit closed manually, not sure of the exact count.

 

The link below is to a spreadsheet breaking down all of the trades

 

http://slil.ru/28088172

 

Plans:

  • NY Session - change TP to 5 pips[/*:m:10ty8epq]
  • AUDUSD - run only during Asia session[/*:m:10ty8epq]
  • Modify the EA to lock in a few pips at breakeven instead of zero[/*:m:10ty8epq]

 

what is your broker,.. in GMT and share your *.set file plz :shand:

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Re: Forex Breakout System EA

 

No changes needed because of 5 digit broker.

 

Pairs I am testing are EURUSD, USDCHF, USDJPY, EURJPY. I had stopped with AUDUSD, but am starting it again monday and limiting it to only be active for the Asian session. I have also disabled the NY session for all pairs.

 

I have modified the EA to allow for setting the breakeven to something other than zero. If it forward tests ok for the week, I'll share it here.

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Re: Forex Breakout System EA

 

Losing day today .... -29 pips net. They can't all be winners!

 

@ShaKerZ - FXDD is a 4 digit broker. While I was adding the LockPips, I don't think this EA was made with 5 digit brokers in mind. I have programming experience, but I am new to MQL4 - I will try fixing it ;) Can you do me a favor and look at the price for EURJPY, is it 3 digits?

 

The timeframe I use is M30.

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Re: Forex Breakout System EA

 

I added LockPips myself after decompiling the EA. I am testing my modified version this week; if there are no bugs I will release it friday. The next version I attempt will add support for 5 digit brokers.

 

How "LockPips" works: the original EA sets the breakeven to no profit or loss when price moves 30 pips. My LockPips modification allows us to specify how many pips extra so that instead of a breakeven of zero pips, we can select how many pips profit to lock-in. This all started because as I watched the trades last week, many of them moved enough to hit the breakeven, but gained no profit. I wanted to take at least 1 or 2 pips.

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Re: Forex Breakout System EA

 

@hitescape - here is the decompiled version, which also includes my modification (which was actually very simple)

 

http://slil.ru/28100282

 

I just looked at it again and it looks like it can handle 5 digit brokers. I am wondering if people having problems are using a broker whose platform does not like the first order to contain SL, TP, etc.

 

If anyone decides to use it, let me know if the LockPips feature does not work as expected

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Re: Forex Breakout System EA

 

@hitescape - here is the decompiled version, which also includes my modification (which was actually very simple)

 

http://slil.ru/28100282

 

I just looked at it again and it looks like it can handle 5 digit brokers. I am wondering if people having problems are using a broker whose platform does not like the first order to contain SL, TP, etc.

 

If anyone decides to use it, let me know if the LockPips feature does not work as expected

Thank you very much for your sharing your modified EA!

 

Is your modification a standalone EA? Otherwise, do we need to attch the indicators in the package to the charts?

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Re: Forex Breakout System EA

 

@ryujeans - no indicators are needed. The nice thing about this method is that everything is based on times.

 

Regarding closing of trades manually .... I just did one this morning and will tell you why after the picture. The red arrow is where I closed at 135.53. Can you guess why?

 

http://img132.imageshack.us/img132/8819/eurjpyfib.gif

 

Notice the two candles before the candle the red arrow is touching (where I closed the trade). Both of them made higher highs, but then pulled back a LOT creating very long wicks. This points to a weakening of the trend with a reversal likely. And sure enough on the next candle price dropped like a stone!

 

If you are not familiar with Japanese Candlestick patterns, visit the ebook section and read up on them. Acting on the pattern above resulted in a 31 pip win instead of a 1 pip win (LockPips would have moved the SL on this one to breakeven +1 for me)

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Re: Forex Breakout System EA

 

Poor performance this week with a net loss of 10 pips. I just created an account at Myfxbook.com so everyone who is interested can look at the results of my forward testing - I really like this site!

 

http://www.myfxbook.com/members/jaymandemo/fbs-demo/3838

 

The above demo account is limited to running the EA. No other trades automatic or manual are on this account.

 

The LockPips setting I added seems to be working except on USDJPY sometimes, not sure why.

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Re: Forex Breakout System EA

 

Poor performance this week with a net loss of 10 pips. I just created an account at Myfxbook.com so everyone who is interested can look at the results of my forward testing - I really like this site!

 

http://www.myfxbook.com/members/jaymandemo/fbs-demo/3838

 

The above demo account is limited to running the EA. No other trades automatic or manual are on this account.

 

The LockPips setting I added seems to be working except on USDJPY sometimes, not sure why.

Very promising results, indeed! I have the following questions:

 

Are you using the fbs_+3_hours_dst.set file you posted earlier for all six pairs?

 

You wrote that “I had stopped with AUDUSD, but am starting it again Monday and limiting it to only be active for the Asian session. I have also disabled the NY session for all pairs.” Can you update on this, please?

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Re: Forex Breakout System EA

 

Are you using the fbs_+3_hours_dst.set file you posted earlier for all six pairs?

 

You wrote that “I had stopped with AUDUSD, but am starting it again Monday and limiting it to only be active for the Asian session. I have also disabled the NY session for all pairs.” Can you update on this, please?

 

Hi ryujeans,

 

Yes, I am still using that set file and just changed the lot size to 0 for the NY session.

 

Have a good weekend everyone!

 

frcrp

 

you are from czech r.??

 

Born and raised in the U.S. Don't hold that against me =))

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Re: Forex Breakout System EA

 

Iceman777,

 

I have the following pairs running: EURUSD, USDCHF, USDJPY, EURJPY.

 

All settings are currently default except the hours.

 

My decisions to close a trade don't have any specific rules. Over the last few months I have spent a LOT of time just watching charts and I sort of get a "gut feeling". I look at price action, candle patterns and support & resistance areas to see what is likely to happen. I am not always right to close early, but some profit is better than no profit or a loss.

 

I will be sharing statistics of my experience so far after the the NY breakout session friday.

 

 

Hi I'm getting Errors, did you get any?

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Re: Forex Breakout System EA

 

11 pips net profit for the week, however I was messing around with settings during some of the sessions and performance would have been slightly higher.

 

I started testing on JadeFX which is an STP 5-digit broker and identified some problems:

LockPips does not work on a 3-digit pair

Trades are mysteriously closing right after opening

Pending orders are also mysteriously being deleted

 

If you didn't notice, brokers have discontinued daylight saving time, at least FXDD and JadeFX have.

 

Hi I'm getting Errors, did you get any?

 

FOREXONE - what errors are you seeing?

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Re: Forex Breakout System EA

 

Still getting some trades with context trade busy, yesterday some trades opened others got this error? has anyone else experienced this?

 

Hi I'm getting the same problems and errors as you, have you found a solution yet Iceman, I need help? anybody.... please :)

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Re: Forex Breakout System EA

 

No progress - spending time with the family this weekend.

 

Things to do:

 

Add magic number

Add order retry when context busy message

Fix for 3-digit pairs

 

Please keep in mind I am a beginner at MQL4 programming (experienced with other programming languages) , so I have to figure these things out. I have been collecting sample code from various places to give me examples and I am up to the challenge!

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