(REQ Plz) Simple Take Profit EA based on Bollinger Bands

[benny3]

So for example Kenny

 

I open a trade, we'll use the picture above as an eample, it go's all the way to the center BB, takes half then moves my stop to break even, that's fine. The way i've got it setup is that it starts trailing towards 80% profit, my trail percent is set at 80 and trail max is set at 50. I've had great results with those settings, so no need to change.

 

As you can see in the picture above it starts trailing my stoploss and as you know! and as I love your Decay setting it looks like that the stop gets moved closer as you get closer to your TP, don't forget i've got the remainder 50% still left in the trade, as I was saying, is it ok to only close maybe 40% of that 50 so we can leave the remainder of the 10% in the trade, then the EA .....after doing all its trailing, moves the stoploss back to break even and we can let that remainder 10% go forGold

 

How does that sound guys?

 

If it is at all possible to do Kenny, that will sort of be like the icing on a cake :)

 

http://img5.foodservicewarehouse.com/IC/375/59/Icing_Cake-3259.jpg

Edited October 13, 2010 by benny3

[kennyhubbard]

Hi Benny,

 

I'll have a look at it, but its gonna have to wait till further down the line, when I have more time available. Its going to be fairly complicated to program since the trailing stop is a stoploss.....easy to set and forget. Using your idea involves another partial close and that means the trailing stop needs to be converted to a market order.

[benny3]

Hi Benny,

 

I'll have a look at it, but its gonna have to wait till further down the line, when I have more time available. Its going to be fairly complicated to program since the trailing stop is a stoploss.....easy to set and forget. Using your idea involves another partial close and that means the trailing stop needs to be converted to a market order.

 

Thank you very much Kenny,take all the time you need.

[bluemele]

Kenny, I use MACD BB indicators on MTF for my futures trading. I have been much more successful as a trader on futures (much lower spreads/commissions than forex) and forex is new to me (1+ years full time) so I don't know what is best with FOREX, however, considering futures it should be just as fruitful! :)

[kennyhubbard]

Hi Gil,

 

Thank for the input.....I am still not quite sure how to implement the MACD into this dashboard. Any ideas?

 

This type of dashboard, I believe, is the way of the future. I believe that I can set up virtually any trading system for monitoring via a dashboard and that means a trader can monitor as many currencies as he likes. Its powerful stuff.

[wonder833]

I have posted this earlier, but see that benny is asking about the MA and PA. I post again, hope it helps.

 

1) up Green Arrow, -10 (red) => up green arrow as the PA is above both MA, which the MA are in correct order (fast MA above slow MA), -10 red as it touches lower band which indicates a possible buy.

2) down green arrow, 10 (red) => down green arrow as the PA is below both MA, which the two MA is in correct down trend, 10 red as it touches upper band which indicates a possible sell

3) up Red Arrow, 10 (red) => up red arrow as the PA is above both MA, MA is in counter trend (fast MA below slow MA), 10 (red) as it touches upper band which indicates a possible sell.

4) down Red Arrow, -10 (red) => down red arrow as the PA is below both MA, MA is in counter trend (fast MA above slow MA), -10 as it touches lower band indicates a possible buy.

[wonder833]

I think some may be interested to watch the chart when the numbers are -9 or 9, but i think alert function should be based on -10 or 10 as the very first rule of this system is for the high/low of the bar to pierce or touch the high/low BB. I can see that things are now getting easier.. when we receive alert based on the four combinations i have posted, we have already known the first rule and second rule have achieved. (second rule is the stochastic 20 80) The only thing we have to do now is only to wait for the bar to close and analyse if the bar patterns fit in the rule.

[benny3]

I have posted this earlier, but see that benny is asking about the MA and PA. I post again, hope it helps.

 

1) up Green Arrow, -10 (red) => up green arrow as the PA is above both MA, which the MA are in correct order (fast MA above slow MA), -10 red as it touches lower band which indicates a possible buy.

2) down green arrow, 10 (red) => down green arrow as the PA is below both MA, which the two MA is in correct down trend, 10 red as it touches upper band which indicates a possible sell

3) up Red Arrow, 10 (red) => up red arrow as the PA is above both MA, MA is in counter trend (fast MA below slow MA), 10 (red) as it touches upper band which indicates a possible sell.

4) down Red Arrow, -10 (red) => down red arrow as the PA is below both MA, MA is in counter trend (fast MA above slow MA), -10 as it touches lower band indicates a possible buy.

 

Well said wonder......someones paying attention in class HEHEHEHE:)

 

I think some may be interested to watch the chart when the numbers are -9 or 9, but i think alert function should be based on -10 or 10 as the very first rule of this system is for the high/low of the bar to pierce or touch the high/low BB. I can see that things are now getting easier.. when we receive alert based on the four combinations i have posted, we have already known the first rule and second rule have achieved. (second rule is the stochastic 20 80) The only thing we have to do now is only to wait for the bar to close and analyse if the bar patterns fit in the rule.

 

Yes I would say it's compulsory to watch the charts, well for me anyway :)

It would be nice to have the stochastics oversold/overbought color separate from the other arrow.

Edited October 14, 2010 by benny3

[bluemele]

Hi Gil,

 

Thank for the input.....I am still not quite sure how to implement the MACD into this dashboard. Any ideas?

 

This type of dashboard, I believe, is the way of the future. I believe that I can set up virtually any trading system for monitoring via a dashboard and that means a trader can monitor as many currencies as he likes. Its powerful stuff.

 

I just use the MACD BB indicator on Tradestation. It has its own nuances, but the main strategy is to hit counter-trend pivots when the dot has a certain amount of separation from the bollinger band. I am not familiar with the websites you are using for the image storing, or I would post a pic. :) You would think with all the advertisements on this site that they could afford some storage for pics... :)

 

The dot is the 12 setting and the horizontal line is the 26 (which I don't really care about), but the key is when the 12 (the dot) moves significantly outside the normal range for the bb band. Typically if there is a lot of separation and you are below the Bollinger Band, it will sling shot you up, or at least push the dot to the other band to go up, or bounce off for a flag etc..

 

Hope this helps and isn't more confusing.. :)

[bluemele]

Benny,

 

Is the Dashboard indi the latest on the front post? Reason I ask is that I thought the latest accepted more than 14 pairs?

 

When I load the indi's, it just shows the currencies with arrows going from bottom left to top right, they are orange and a -- market to the left of them.

 

NO .csv file is being generated or in my experts/files folder or anywhere else... So, I don't know what I am doing wrong. Any advice?

 

:)

 

EDIT:

 

OK, I ran it as Administrator and it now generated the file. I then deleted the records that I didn't want. Then I reopened it as both standard and administrator and the same thing... :) I will search through and try to figure out what I am doing wrong here.

 

EDIT2: Ok, I closed it out a few times, removed the indi & put it back on, opened it back up and now my list is updated, but still just arrows (diagonal and orange), nothing more. :)

Edited October 15, 2010 by bluemele

[kennyhubbard]

Gil,

 

The "--" means that there are not enough bars for that TF/pair. You need to update your history.

 

If you see "XX" it means no data at all, so in your case, it has data, just not enough. This should only really be a problem on the monthly charts.

[benny3]

Benny,

 

Is the Dashboard indi the latest on the front post?

 

yes it is, everything about the dashboard is explained in detail on page 15 sorry for the inconvenience.

[bluemele]

Gil,

 

The "--" means that there are not enough bars for that TF/pair. You need to update your history.

 

If you see "XX" it means no data at all, so in your case, it has data, just not enough. This should only really be a problem on the monthly charts.

 

Interesting. I have quite a bit of history for most charts. Will see what I can do to get some more. :)

[bluemele]

Yah, that is how I got to a couple of fixes. Thanks.

 

Now I just have to get the dashboard going. :)

[⭐ E2U]

Stealing candy

 

Hi

Semiautomated trading from 15.49 to 21.42 GMT today.

Tools: Bol_TP_Dashboard, BollStarc-TC_Sig, TMA CENTERED

Bol_TP_v4_Enhanced and Multi purpose trade manager for take the profit.

http://www.euro2you.com/StBl2.jpg

[kennyhubbard]

Hi Guys,

 

Just to let you know that I have not forgotten about this. Just in the thick of it at work............

 

Appreciate the patience and good to see the continued interest in the thread.

[wonder833]

Good to hear that Kenny! :) we are beta-testing the latest version at the moment.. Cheers

[benny3]

Hi Kenny is it ok when you get the chance,to update the EA to have the selection of how much percentage we want closed at center BB thanks.

[kennyhubbard]

Hi Benny,

 

Yup, that is a relatively minor mod. Of course the main constraint with that is going to be the brokers minimum lotsize.

[benny3]

Hi Benny,

 

Yup, that is a relatively minor mod. Of course the main constraint with that is going to be the brokers minimum lotsize.

 

cheers mate,long time no hear :) How's things?

[chrisbenjy]

Hey kenny,

 

thanks for the really useful Bol_TP_V4_Enhanced. I had a slight problem with that it was deleting my support/resistance lines, etc when I changed time frames.

 

Anyway, I hope you don't mind that I slightly modified the EA to add prefix to all objects and delete objects by prefix. If anyone is bothered about the modification then I will upload it if you want.

Edited November 6, 2010 by chrisbenjy

[hitescape]

Hey kenny,

 

thanks for the really useful Bol_TP_V4_Enhanced. I had a slight problem with that it was deleting my support/resistance lines, etc when I changed time frames.

 

Anyway, I hope you don't mind that I slightly modified the EA to add prefix to all objects and delete objects by prefix. If anyone is bothered about the modification then I will upload it if you want.

 

I would like a copy of the code that you used for the object creation and deletion.

 

Thanks!

[kennyhubbard]

Hi Chris,

 

No problem mate, I welcome all input and help. Good idea actually.

[smurf43]

Hey kenny,

 

thanks for the really useful Bol_TP_V4_Enhanced. I had a slight problem with that it was deleting my support/resistance lines, etc when I changed time frames.

 

Anyway, I hope you don't mind that I slightly modified the EA to add prefix to all objects and delete objects by prefix. If anyone is bothered about the modification then I will upload it if you want.

 

Thank you Chrisbenjy.

 

Could you please upload your modified version. Many Thanks!

[Guest sparky08]

Kenny, great work mate on this EA, now its time to take this even further....