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Lepericus is a very helpful person here and when I saw his thread, I subscribed. Your working with a good person here and his posts have helped me from time to time.
Whatever you name it...you guys are a good team...and I am hoping to be able to test it when your finished.
The system uses 2 indicators. The QQE and a 5 period simple moving average
The QQE is used in the 30min and 60 min Time frame. The smoothing factor is 5. The 5 period SMA is used in 30 min TF purely for entrys and exits
When the 30m and 60m QQE crossovers agree I enter the position when price pulls back to the 5 sma. Waiting for the pullback will get you in the position at a better price usually than just jumping in.
For exits, there are 3 ways to exit. Stopped at -100 pips, TP at 150 pips or exit on a 30min QQE crossover the opposite direction and then waiting for a pull back to the 5sma to exit at a better price.
When trading this manually I will enter and exits on 5 sma pullbacks if I have time to sit in front of the PC, but without fail I get signals when I am sleeping and have them texted to my cell phone. I'll often just enter the market without waiting for a pullback in those cases, but If I wait for 5sma pullbacks to enter and exit I can get better prices probably 80% of the time.
The screen shot I am posting is from Fibonacci Trader software. I could show you in MT4, but the color bars in FT make it easier to see I think. The green and red dotted indicator shown is the QQE indicator I requested be programmed for FT.
This system is by far not optimized. Its optimized in the fact that it makes pips for me every month but it can always be tweaked. I know that stops of 100 pips and TP of 150 will get me positive pips so thats what I use I am just limited in what I can do in FT software.
I also know that using a 100 pip trailing stop results in a greater profit factor instead of a 100 pip flat stop. But I guess these are things that can be programmed in an EA.
I'll post the mql version of QQE indicator also but it is not MTF, and I'll answer any questions best I can.
So can I have QQE monitor the H1 TF while attached to the 30M chart?
EDIT: Nevermind, doesn't matter.
Last edited by matrixebiz; 11-01-2007 at 10:35 PM.
So can I have QQE monitor the H1 TF while attached to the 30M chart?
Well, the EA will monitor both the 30 and 60 minute time frames of whatever chart you attach it to. For example, if you attach it the the GBPJPY 5 minute chart, it will monitor the GBPJPY, but still trade based on the 30 and 60 minute values.
As an update, I decided to work on this thing during my lunch break today and hack up what I could. I finished it with trailing stop and all, and it compiled without errors or warnings. Upon testing, though, it returns an error (130) everytime it tries to send an order. Error 130 is for "invalid stoploss," which usually means the stop is too close to the order (not the case here since the stop is 100 pips away). I checked and the stops are on the right side of the entry. I think I might just need to normalize the stoploss value before sending it, but if that's not it, it may take a while to track down the bug. If I can't figure it out in the little free time I'll have later, I'll post the EA with the note that it won't actually trade for me in case anyone wants to look at the code, figure out what's wrong, and get a good chuckle at what stupid little typo I've made or something.
Well, the EA will monitor both the 30 and 60 minute time frames of whatever chart you attach it to. For example, if you attach it the the GBPJPY 5 minute chart, it will monitor the GBPJPY, but still trade based on the 30 and 60 minute values.
As an update, I decided to work on this thing during my lunch break today and hack up what I could. I finished it with trailing stop and all, and it compiled without errors or warnings. Upon testing, though, it returns an error (130) everytime it tries to send an order. Error 130 is for "invalid stoploss," which usually means the stop is too close to the order (not the case here since the stop is 100 pips away). I checked and the stops are on the right side of the entry. I think I might just need to normalize the stoploss value before sending it, but if that's not it, it may take a while to track down the bug. If I can't figure it out in the little free time I'll have later, I'll post the EA with the note that it won't actually trade for me in case anyone wants to look at the code, figure out what's wrong, and get a good chuckle at what stupid little typo I've made or something.
-MRE-
Ok, please post EA when ready. Can I use it with other currencies? So it doesn't matter then what TF chart I attach your EA to, it's designed to monitor/trade 30M and 1H anyway, correct?
Thanks
Ok, please post EA when ready. Can I use it with other currencies? So it doesn't matter then what TF chart I attach your EA to, it's designed to monitor/trade 30M and 1H anyway, correct?
Thanks
You can use it on any currency pair, but I found its only profitable in gbp/jpy with the current settings. I am not saying it won't work for other currencies, just that you have to find the right TPs and such. Its more or less a bastardized simpler system that Auslanco from Forexfactory trades for the geppy.
He uses QQE in 15m time frame with confirmations of 100sma and also another QQE with a smoothing factor of 60 as confirmation. That is also where I got the idea of 5sma pullbacks. Its amazing how price pulls back to the 5sma before continuing a trend regardless of time frame. Its an excellent way to get in on a trend if you missed the initial entry.
His system does indeed work if you follow all the rules, but I like things simpler and longer TFs.
I found this 30/60 min TF works well. 60/240 work well too, but you have to have a wider stop loss and takes alot more patience.
Again, thanks for all the efforts guys and with luck we can have a profitable EA.
__________________
All your pips are belong to us!
Well, I'm releasing this EA (Qbot) as version 0.1-beta. This opens orders correctly (at least shorting...hasn't hit a buy signal yet). Test it out. Post any errors or abnormal behavior or feedback. If you set the input "TrailingStop" to True, there should be a trailing stop of the value in the SL input. If you set TrailingStop to False, there will be a single stoploss of the entry price - SL.
I forgot to tell you, you need the QQE indicator in your "experts\indicators" folder, and it needs to be named QQE.mq4 or the EA won't work. Also, you'll want to make sure you edit the QQE.mq4 file and change the line "extern int SF=1;" to "extern int SF=5;" so that the smoothing factor will be 5 when the EA runs.
Possible enhancements to the EA:
* Position sizing algorithm instead of a fixed lot size
* A REAL MagicNumber system to run multiple instances of the EA at the same time without changing the source code for each instance
* Possibly integrating the QQE code into the EA so it doesn't need the QQE indicator to be present
I guess it's not working, QQE is saying Buy but EA did a Sell also, can you set the EA to wait until next QQE siganl instead it opened the trade when I loaded it on the chart way later.
Last edited by matrixebiz; 11-02-2007 at 03:06 AM.
also, can you set the EA to wait until next QQE siganl instead it opened the trade when I loaded it on the chart way later.
Linear Mode
