Jump to content

The Channel Scalper EA


Recommended Posts

  • Replies 61
  • Created
  • Last Reply

Top Posters In This Topic

Re: The Channel Scalper EA

 

Thanks for the ECN fix Huntrader. I am surprised that after the pile of EAs that funyoo has written that he could simply forget about this, as well as including some code to get the GMT offset correct. I mean to say, the bulk of his EAs are profitable... so why can't he get these other bits correct?

 

The only settings to be aware of is the gmtshift input (match to the GMT offset of your broker)

Also, the max spread setting should be as low as possible (max of 3), so finding a suitable broker is key here. I am using an ECN broker.

 

Anyway, I am running it live on an ECN broker. Some good scalps so far on the EURUSD and EURGBP on the M5. I'm inclined to believe that this one would probably scalp on any pair you throw at it.

My only reservations with this EA are the huge stoplosses. Reminds me of EuroBlaster :( I wonder if the stoploss really has to be that big, and where in backtesting has that SL been tested?

If anything, that's the only thing stopping me from running this thing like a madman on all the majors and some of the exotics.

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

This EA is certainly amazing, and the profit potential is incredible. :-bd

 

I let it run overnight on my live account, and the EURUSD M5 has happily produced a lot of pips.

I'm also a little less worried about the huge stoploss. I think it is mainly there to ensure that there is a stoploss incase the terminal loses its connection. The EA knows when to pull out of a trade when the trade stops playing along with the trade rationale. I have a 6 pip losing trade amongst a bunch of winners =D>

 

If THAT'S the case, then I see no reason not to run this EA on a bunch of pairs after a bit more testing.

I'm only had some trouble with optimized lots. My ECN broker doesn't allow microlots, so I set the min lot to 0.1 and set the lot optimization to true and that fixed the problem. :)>-

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

I run some backtest for EG from september till now, the results was not impressive, maybe with 2 or 3 pip spread it has more potential.

 

That's what I'm saying. It works best with a max spread of 3, and a broker who can give you that... namely an ECN broker.

 

Currently I have an EURUSD trade that's gone crazy and is using up the huge SL space, the take profit has been shifted back in order to try and close it out.

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

This EA is certainly amazing, and the profit potential is incredible. :-bd

 

I let it run overnight on my live account, and the EURUSD M5 has happily produced a lot of pips.

I'm also a little less worried about the huge stoploss. I think it is mainly there to ensure that there is a stoploss incase the terminal loses its connection. The EA knows when to pull out of a trade when the trade stops playing along with the trade rationale. I have a 6 pip losing trade amongst a bunch of winners =D>

 

If THAT'S the case, then I see no reason not to run this EA on a bunch of pairs after a bit more testing.

I'm only had some trouble with optimized lots. My ECN broker doesn't allow microlots, so I set the min lot to 0.1 and set the lot optimization to true and that fixed the problem. :)>-

 

Hi Rio,

 

How many trades per bar do you use ? This parameter is quite dangerous. I ran today a demo on EURGBP M5 with 10 trades per bar, and within 30 minutes I had around 50 open trades. :-ss

Maybe you can share the settings you have found to match best ? :-bd

 

Thanks

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

I have the max trades set to 1, and I am only playing with a small amount of money.

I'm not sure what tradesperbar does, because so far only one trade runs at a time. I would not want more than one trade at a time with this EA.

 

I think that running on other pairs will require optimization. I had a $45 blowout when that pair nearly came close to hitting the large stoploss. Fortunately it had pipped like mad before that hiccup and the loss only stripped me of half the profits I made until then by running both EURGBP and EURUSD. To be fair I was a bit hasty about running this on the EURUSD before properly backtesting it, so it's my own fault. I'm still up only after a few days of running this beast. If we can all pool together to get optimized settings across the 5 majors we could all be in for a wild ride.

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

I'm going to optimize some of the parameters I think. It should be possible to run 5 pairs at a time -- but as was noted before, the EURGBP pair goes well until mid 2009 where it gets a bit stuck. Also, some of the other pairs simply lose money in the latter half of this year. I'm have a look into the martingale settings a bit and tweak around. This thing can turn $1000 into a mill within a year on EURGBP alone with money management. Just ensuring that there are fewer wipeouts along the way with multiple pairs is the key and holy grail.

 

We may all have to optimize the EA over this year's data

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

I have the max trades set to 1, and I am only playing with a small amount of money.

I'm not sure what tradesperbar does, because so far only one trade runs at a time. I would not want more than one trade at a time with this EA.

 

I think that running on other pairs will require optimization. I had a $45 blowout when that pair nearly came close to hitting the large stoploss. Fortunately it had pipped like mad before that hiccup and the loss only stripped me of half the profits I made until then by running both EURGBP and EURUSD. To be fair I was a bit hasty about running this on the EURUSD before properly backtesting it, so it's my own fault. I'm still up only after a few days of running this beast. If we can all pool together to get optimized settings across the 5 majors we could all be in for a wild ride.

Rio tradesperbar is how many trades the EA is allowed to open per TF5 or 15 hope U can do some nice fine tuning with settings enjoy \m/

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

I think of it this way...

 

With at least 4 pairs running, with a lucky run of four months, you could turn $1000 into a million.

This is as opposed to having one pair run (the EURGBP) and wait 12 months.

 

Now, consider that, even if things go a little worse than usual, you will easily clear your inital startup funds of $1000 within the first month alone, or the first few weeks. To me, this is a real no-brainer. Even if your account crashes horribly before you hit your first million, you would have cleared your startup cost likely long before that occurred, and you have still madly profitted anyway in the meantime.

 

The only downside to this? The backtests over the past two years with this EA. The only reason I'm a bit cautious is because of the current market situation. Had we started this EA in 2000 (a nice thought) that year would have seen us through nicely to $1 million. Still, the market may correct itself eventually, and all we need is a 4 month streak! Again... even if it fails, you will most likely get your startup money back and be able to try again for the next 4 months until the market corrects itself and we see another year like 1999!

 

To me that sounds better than euroblaster, and safer as well.

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

For sure...."IF" is the operative word!

 

In any case, I will run EURGBP M5 only on live and try running the scalper on the EURUSD, USDCHF, GBPUSD, EURCHF and EURGBP at the same time on demo. I will also set the trading hours for the USD pairs to trade from 17 till 0... that way we avoid any early asian session spikes affecting the USD from JPY flows out of Japan.

EURGBP and EURCHF can continue on as normal untilt he European session.

 

Starting with $800, let's see how long it takes to get my demo money back :geek:

Link to comment
Share on other sites

Re: The Channel Scalper EA

 

I have corrected the ECN support for this EA. In this version you can change the ECN function true or false, so you can use it with non ECN broker and ECN broker as well.

 

Enjoy!

 

http://[email protected]/file/163650029/614a1102/channel-scalper-101_ecnsupport.html

 

when I set to ecn false and I put on 4 digit brokerage, it won't trade, any wrong with ?

 

thanks in advance

 

regards

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




×
×
  • Create New...