EA request for profitable gbp/jpy system

lepiricus · #1 (**permalink**) 10-20-2007, 02:24 AM

Hey guys,

I've been using this system live since the 1st of August. Its a system using a different charting platform called Fibonacci Trader. I have it set up to send a text to my phone when trade conditions are met but I miss many trades because I travel or sleep through the message beep on my phone etc.

Fibonacci Trader is nice because it automatically backtest any systems you create. This system has netted 4100 pips since july 25th with a win rate of 59% and profit factor of 2.55 over the last 119 trades and you can see the relatively smooth P&L curve.

Obviously I haven't personally realized those pips because the results don't include spread and assume you enter the market exactly at bar close. Nevertheless, it has been very profitable for me. If I had a bot this puppy would have have average over 1000 pips per month including my spread.

I believe this system lends itself nicely to automation because I basically trade it like a robot. I blindly follow the system because I know it makes pips. And if I use an EA I wont have to pay the $50 monthly license fee for Fibonacci Trader software

The system uses a single indicator in multiple time frames and I have other ideas to make it more profitable but I can't do it with fibonacci trader software.

I'll post a screen shot of basic trades and performance, red bars are sells and green are buys. This week was basically break even for this system but you get the idea.

If anyone is willing to lend a hand I'll post more info, indicators and specific settings etc.

mrebersv · #2 (**permalink**) 10-30-2007, 03:49 AM

Post as much info as you can about the system. Specifics about how the indicator works (i.e. what calculations are made, what the decision is at different calculation values, etc.). I'm a bit busy this week, but I still might be able to crank out an EA for the system. I would work under the assumption that I can keep a copy of the EA source code for personal trading if I wanted. Just let me know.

-mrebersv-

ElectricSavant · #3 (**permalink**) 10-30-2007, 03:56 AM

I'm subscribed...

wolfe · #4 (**permalink**) 10-30-2007, 03:59 AM

Looks interesting. More info please.

primajaya · #5 (**permalink**) 10-30-2007, 04:14 AM

Always interesting with something new.. count me in..

Pj

lepiricus · #6 (**permalink**) 10-31-2007, 09:55 PM

Err, sorry guys. I didn't mean to ignore you, just didnt see some had responded to this thread.

Total pips for last week were -64

Pips for this week so far +200, I'll try to update this weekly and describe the system in my next post.

lepiricus · #7 (**permalink**) 10-31-2007, 10:21 PM

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.

et_phonehome_2 · #8 (**permalink**) 10-31-2007, 10:37 PM

How does Fibonacci Trader software help you, I am curious as to what it offers fi you are using QQE and SMA as signals already?

lepiricus · #9 (**permalink**) 10-31-2007, 11:10 PM

Quote:

Originally Posted by et_phonehome_2

How does Fibonacci Trader software help you, I am curious as to what it offers fi you are using QQE and SMA as signals already?

FT is multi time frame, you can use any time frame you want, it will make the bars accordingly. Also, it lets you build systems and when it signals you can have it email you. I have it email my cell phone as a text message whenever I get a signal. Many of them come in the wee hours of the night during London session.

I actually have 4 different systems on FT that email. The one I describe above is the most "busy" and produces the most pips and I thought others might be interested. I just hope in translates to MT4 well.

This one below is another one I trade. Its based on 4 hr charts and only trades long positions to take advantage of swap. It averages 300 pips a month and nearly 3.0 profit factor. It trades seldom and I hold positions for days sometimes so I don't really mind it since it requires so little maintenance.

mrebersv · #10 (**permalink**) 11-01-2007, 02:31 AM

Quote:

Originally Posted by lepiricus

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.

Nice, clear definition of rules. I can definitely program your EA with these rules. First version will probably be without pullback. If the EA proves potentially profitable, I will add a selectable option to wait for pullbacks.

Quote:

Originally Posted by lepiricus

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.

This can be expected in at least the 2nd version of the EA. Possibly the first if I have enough time.

I'll probably start programming tonight, but I don't have a lot of free time for the next few days, so it may take a little while for me to get around to this.

-MRE-