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Hi All,
I thought it was about time I added to a FOREX forum! I am new to Forex - a friend gave me the bug around middle of August. After losing a bit of real money using an online platform I discovered MT4 and EA's, so decided this is the way to go!
Since I am not a programmer, I created this EA with EA Builder but later worked out how to add some adjustable external variables to the code.
3CCI as the name implies works on 3 different CCI periods.
It works best on EURUSD Daily chart. You may find settings for other pairs and shorter time frames. I have only started forward testing beginning of this week and account is up nearly $1000 trading 1 lot size.
CCI 125 is the slow trend filter. This is designed to keep you trading with the trend. The best way in my short experience!
CC25 is the medium trend and is also used to auto exit trades when it crosses 0
CCI5 is designed to help you enter at the best time and stay out of retracements. All three variables are adjustable.
I have attached the performance over the last 12 months. This is set using auto exit, No TP and no SL. Just a trailing stop of 100.
I would like further ideas for the EA and if someone like Mas who did My_OzFx could work some money management magic. I'm thinking like a TP1, TP2 and TP3. You could set the first two say 25, 150 and let the last one run.
Cheers,
Matt
This EA was never intended for scalping.
I am yet to see a good long term scalping EA or strategy.
You can make it profitable down to about 1H time frame
but you are in for a bumpier ride!
Run it on the daily settings on back test and then change
your chart to H1 time frame. Look at the CCI crosses and
then adjust the input values accordingly. I did this quickly
and it gave $1000 profit over last 4 months.
I'm interested if you can find some settings that work consistently
on the lower time frames.
This EA was never intended for scalping.
I am yet to see a good long term scalping EA or strategy.
You can make it profitable down to about 1H time frame
but you are in for a bumpier ride!
Run it on the daily settings on back test and then change
your chart to H1 time frame. Look at the CCI crosses and
then adjust the input values accordingly. I did this quickly
and it gave $1000 profit over last 4 months.
I'm interested if you can find some settings that work consistently
on the lower time frames.
Paysman,
It's a good system, what is your capital to make $1000.
CCI 125 is the slow trend filter. This is designed to keep you trading with the trend. The best way in my short experience!
CC25 is the medium trend and is also used to auto exit trades when it crosses 0
CCI5 is designed to help you enter at the best time and stay out of retracements. All three variables are adjustable.
This is a little bit off thread but if you want to have a more visual view of the EA, use bollinger bands. CCI is just an oscillator of current price inside BB. (ie. CCI(20) value 200 means the price just went over typical 20/2 BB upper line)
I have tried similar system myself (without trend filter) and one thing you might want to consider is BB stops (or in your case you might want to use CCI's), don't trail the sl with exact 100 pips but with lower BB line. Worked quiet well in my tests.
Mikko,
Thanks for your input. What I would really like to try first is a multiple
TP setup. Say something like three positions open with target of TP1=25
TP2=100 and TP3=1000 or just run to auto close.
Once the first two targets are hit TP3 would have stop loss set to entry,
i.e. break even.
Cheers,
Matt
Mikko,
Thanks for your input. What I would really like to try first is a multiple
TP setup. Say something like three positions open with target of TP1=25
TP2=100 and TP3=1000 or just run to auto close.
Once the first two targets are hit TP3 would have stop loss set to entry,
i.e. break even.
Cheers,
Matt
can you code the programme with this requirement
your system has potential
Last edited by simonsmart; 10-16-2008 at 03:20 PM.
Mikko,
Thanks for your input. What I would really like to try first is a multiple
TP setup. Say something like three positions open with target of TP1=25
TP2=100 and TP3=1000 or just run to auto close.
Once the first two targets are hit TP3 would have stop loss set to entry,
i.e. break even.
Cheers,
Matt
From what I have tested, using multiple tp's is not worth the effort. It's always best to take all the profit on most optimal level.
Maybe you can have the program calculate the Fibonacci TP Levels, but you must be sure the program trade in the direction of the trend for intraday [I have found it to be reliable for TP].
Linear Mode
